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How Much Do Premier League Fans Spend on Their BUSINESS WITH PERSONALITY THEY’RE COMING... WHY 30 YEARS LATER BERLIN’S FREEDOM WINNING LONDON IS KEY MOMENT IS STILL FOR THE ELECTIONP16-17 RELEVANT P22 FREE YOUR WEDNESDAY 6 NOVEMBER 2019 ISSUE 3,494 CITYAM.COM Satellite firm THE NIGHTMARE vows to push on with sale REGULAR ALEX DANIEL @alexmdaniel BEFORE CHRISTMAS INMARSAT has rejected a late attempt to thwart its $6bn (£4.7bn) takeover by a private equity consortium, in which it UNION PLOTS STRIKES ON SOUTH WESTERN FOR ALMOST ALL OF DECEMBERfaced claims of ignoring a potential increase in value. Oaktree Capital, a 2.85 per cent stakeholder, wrote to the British satellite giant yesterday, to call on the board to PAPER postpone a court hearing next week which would clear the → path to the takeover. Oaktree, a fund founded by billionaire Howard Marks, said the offer did not take the potential value of spectrum assets used by Inmarsat’s US partner Ligado into account. The fund pointed to a draft order by the US communications regulator to approve a modification to INSIDE Ligado’s licence. Inmarsat chief Rupert Pearce has, in the past, said the change could provide ALEX DANIEL 2 December until the New Year, only hugely let down gain,”a he said. focused on keeping control of train doors “substantial incremental stopping for a brief period aroundhe t “As long as the company continues to in a misguided attempt to hold power value” to the company. @alexmdaniel General Election on 12 December and for refuse to give assurances on the future over the industry,” SWR said. Oaktree said ithad asked e Inmarsat for a private meeting TRAIN staff on a major London rail Christmas Day and Boxing Day, when operational role of the guardwe will Lobby group London First said th sses over the issue, which it claims network are preparing to put down toolstrains do not run anyway. remain in dispute,” the union boss strike “will hit the capital’s busine SWR claimed the nionu was showing a added, who confirmed it would remain hard during their busiest time of year,” is a material change of for 27 days throughout December, amid circumstance, but directors a long-running dispute that threatens to “lack of concern” for customers, after available for further talks. and urged the reopening of talks. declined. ’ Christmas plans. RMT general secretary Mick Cash said it The dispute surrounds the role of Previous strikes have taken place over wreck commuters Two other major The Rail and Maritime Transport (RMT) had been “left with no choice” but to callguards on trains. The union wants to shorter periods, but have forced SWR to shareholders, Kite Lake Capital union accused rail operator South for the strikes. keep a guard on every passenger train — cut roughly half of its timetabled Management and Rubric Western Railway (SWR) of failing to give “At the last meeting we held with SWR a demand SWR claims to have agreed to services, including a four-day strike over Capital Management, also assurances that train guards will be kept principles in agreements were made in if the RMT will agree to “a method of the summer. A longer strike could lead to backed Oaktree’s call to delay on under a new operational model. good faith with the company’s operation for our ewn trains”. a more serious upheaval for commuters the completion of the deal. Drivers and guards will strike from negotiating team and we now feel “Instead the RMT appear purely in the busy pre-Christmas period. Sarries in the sin bin after player investment deals come under the spotlight MICHAEL SEARLES European champions were given Owen Farrell, Maro Itoje mislead anyone or breach the in around 30 companies, including the maximum punishment possible and the Vunipola brothers cap and that’s why it feels like real estate investor Secure Income @michaelsearles_ under the league’s rules after an — had entered into the rug is being completely REIT and Prestbury Invest He also SARACENS chairman and well- independent panel found the club investment and property pulled out from under our known City figure Nigel Wray has had failed to disclose some of its partnerships. feet,” he added. vowed to fight the 35-point payments to players for the last Wray, 71, called the news Th deduction and £5.4m fine handed three seasons. “absolutely devastating”. to the club by Premiership Rugby The investigation is thought to “It has been for breaching salary cap have been prompted by revelations k regulations. that Wray and senior l The reigning English and incl d BUSINESS WITH PERSONALITY HOW MUCH DO PREMIER LEAGUE FANS SPEND ON THEIR CLUB? DISCOVER EXACTLY HOW MUCH IN THIS COMPREHENSIVE REPORT. FIND THE REPORT AND HEAR WHAT GARY NEVILLE HAS TO SAY ABOUT IT AT ETOROFC.COM IS A GLOBAL MULTI-ASSET INVESTMENT PLATFORM “THE ETORO FAN FINANCIAL STATEMENT LAYS OUT THE FACTS AND I HOPE IT WILL SERVE AS A WAKE-UP CALL. FOOTBALL HAS TO STAND ABOVE OTHER LEISURE BUSINESSES. IT IS MORE THAN JUST A GAME. IT IS ABOUT COMMUNITY AND WE NEED TO ENSURE WE ARE DOING ALL WE CAN NOT TO PRICE FANS OUT OF THE GAME.” GARY NEVILLE THTHERE’SERE’S BBEENEEN A £31£318M18M INCREASEINCRREASE INN SSPEND BYY PPREMIPREMIERER LEAGLEAGUEGUE MMATCH-GOINGAATATCHTCH-GOING FFAFANSANSS SINSINCECE 202014/1514/15 BUT WHYW ARE COSTSCOSTTS RISING SOO SSIGNIFICANTLY?SIGNIFICANTLLYY? MERCHANDISE FOOD & BEVERAGEHOME TICKETS TV SUBSCRIPTIONS FIND OUT WHERE THE MONEY’S GOING AT ETOROFC.COM IS A GLOBAL MULTI-ASSET INVESTMENT PLATFORM BUSINESS WITH PERSONALITY THEY’RE COMING... WHY 30 YEARS LATER BERLIN’S FREEDOM WINNING LONDON IS KEY MOMENT IS STILL FOR THE ELECTION P16-17 RELEVANT P22 WEDNESDAY 6 NOVEMBER 2019 ISSUE 3,494 CITYAM.COM FREE Satellite firm vows to push THE NIGHTMARE on with sale ALEX DANIEL @alexmdaniel INMARSAT has rejected a late attempt to thwart its $6bn BEFORE CHRISTMAS (£4.7bn) takeover by a private UNION PLOTS STRIKES ON SOUTH WESTERN FOR ALMOST ALL OF DECEMBER equity consortium, in which it faced claims of ignoring a potential increase in value. Oaktree Capital, a 2.85 per cent stakeholder, wrote to the British satellite giant yesterday, to call on the board to postpone a court hearing next week which would clear the path to the takeover. Oaktree, a fund founded by billionaire Howard Marks, said the offer did not take the potential value of spectrum assets used by Inmarsat’s US partner Ligado into account. The fund pointed to a draft order by the US communications regulator to approve a modification to Ligado’s licence. Inmarsat chief Rupert Pearce has, in the past, said the change could provide ALEX DANIEL 2 December until the New Year, only hugely let down again,” he said. focused on keeping control of train doors “substantial incremental stopping for a brief period around the “As long as the company continues to in a misguided attempt to hold power @alexmdaniel value” to the company. General Election on 12 December and for refuse to give assurances on the future over the industry,” SWR said. Oaktree said it had asked TRAIN staff on a major London rail Christmas Day and Boxing Day, when operational role of the guard we will Lobby group London First said the Inmarsat for a private meeting network are preparing to put down tools trains do not run anyway. remain in dispute,” the union boss strike “will hit the capital’s businesses over the issue, which it claims for 27 days throughout December, amid SWR claimed the union was showing a added, who confirmed it would remain hard during their busiest time of year,” is a material change of a long-running dispute that threatens to “lack of concern” for customers, after available for further talks. and urged the reopening of talks. circumstance, but directors wreck commuters’ Christmas plans. RMT general secretary Mick Cash said it The dispute surrounds the role of Previous strikes have taken place over declined. The Rail and Maritime Transport (RMT) had been “left with no choice” but to call guards on trains. The union wants to shorter periods, but have forced SWR to Two other major union accused rail operator South for the strikes. keep a guard on every passenger train — cut roughly half of its timetabled shareholders, Kite Lake Capital Western Railway (SWR) of failing to give “At the last meeting we held with SWR a demand SWR claims to have agreed to services, including a four-day strike over Management and Rubric assurances that train guards will be kept principles in agreements were made in if the RMT will agree to “a method of the summer. A longer strike could lead to Capital Management, also on under a new operational model. good faith with the company’s operation for our new trains”. a more serious upheaval for commuters backed Oaktree’s call to delay Drivers and guards will strike from negotiating team and we now feel “Instead the RMT appear purely in the busy pre-Christmas period. the completion of the deal. Sarries in the sin bin after player investment deals come under the spotlight MICHAEL SEARLES European champions were given Owen Farrell, Maro Itoje mislead anyone or breach the in around 30 companies, including @michaelsearles_ the maximum punishment possible and the Vunipola brothers cap and that’s why it feels like real estate investor Secure Income under the league’s rules after an — had entered into the rug is being completely REIT and Prestbury Investments. SARACENS chairman and well- independent panel found the club investment and property pulled out from under our He also previously owned a stake in known City figure Nigel Wray has had failed to disclose some of its partnerships.
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