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Super League: The World of Football in Disarray As 12 Major Clubs Break Away from UEFA Champions League

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Toward the end of last year, a movement toward creating a European Super League, where top teams from the major leagues clubs across Europe will play against each other weekly, garnered momentum, with several of the big clubs signing up.

On Sunday, 12 clubs jointly announced an agreement to commence the Super League competition. From England; Chelsea, Liverpool, Manchester City, Manchester United, and Tottenham: From Italy, Inter Milan and Juventus: And from Spain; Atletico Madrid, Real Madrid and Barcelona are all backing the plan.

“Twelve of Europe’s leading football clubs have today come together to announce they have agreed to establish a new mid-week competition, the Super League, governed by its Founding Clubs,” a statement issued by the clubs said on Sunday.

“Three more clubs are expected to join as Founding Clubs before the inaugural season, which is expected to start as soon as possible. In the future, the Founding Clubs look forward to consulting with UEFA and FIFA to work together,” the statement added.

Each of the Founding Clubs has issued a statement confirming their commitment to the Super League. All 12 clubs have quit the European Club Association.

According to their plan, the Super League will have 20 participating teams, and the games will be played during mid-week. It will start from August and end in May, having two groups of 10 teams; the first three of each group will qualify for the next round. Real Madrid’s president, Florentino Perez, will be the president of the new league. The clubs will receive €3.5 billion for their infrastructure investment plans.

American investment bank, JP Morgan, has confirmed it will provide the funding.

Stars like Messi are the attraction

The move has thrown the world of football into disarray, as both football governing bodies, fans and other clubs kick against it, calling it “embarrassing,” saying the move was borne out of greed. Former Manchester United defender, Rio Ferdinand describes it as “a war on football”, “a disgrace” and “embarrassing” as it stands against everything that football is about.

UEFA said every player and club who participate in the Super League will be banned from UEFA and FIFA football tournaments.

“The clubs concerned will be banned from playing in any other competition at domestic, European or world level, and their players could be denied the opportunity to represent their national teams,” UEFA said.

“We thank those clubs in other countries, especially the French and German clubs, who have refused to sign up to this. We call on all lovers of football, supporters and politicians, to join us in fighting against such a project if it were to be announced. This persistent self-interest of a few has been going on for too long. Enough is enough,” it added.

French President Emmanuel Macron and UK Prime Minister Boris Johnson both issued statements condemning the new league and supporting UEFA’s position. Macron applauded the decision of French clubs to stay away from the breakaway.

“The president of the republic welcomes the position of French clubs to refuse to participate to a European football Super League project that threatens the principle of solidarity and sporting merit,” Macron said.

League bodies in Spain, France, England, Italy and Germany have all condemned the move, a stand Macron applauded.

UEFA has been working on a new plan that will see the Champions League restructured from 32 to 36-team, and plans to sign off on it on Monday. The plan will include proposal to collapse the group stage into a single table instead of the current groups of four teams.

Under the proposal, teams would play 10 matches each in the group stage rather the six currently being played, and there would be a playoff round before the last 16.

the clubs

The breakaway has however, altered UEFA’s plan and would likely disrupt football as we know it if it succeeds. The Founding Clubs said there is plan to launch a corresponding women’s league as soon as possible.

Although the Super League has been in the pipeline for long, the Founding Clubs cited financial strains induced by the pandemic as part of the reasons for accelerating the plan, and also the objective of improving the quality and intensity of existing European competitions throughout each season.

“The new annual tournament will provide significantly greater economic growth and support for European football via a long-term commitment to uncapped solidarity payments which will grow in line with league revenues,” the Founding Clubs statement said.

The fear is that the Super League will greatly undermine the current structure of inclusivity and equitable financial distribution in football, thus creating an elite league that will make smaller leagues and clubs irrelevant.

Surprisingly, FIFA did not condemn the breakaway but urged all parties involved in the “heated discussions” to “engage in calm, constructive and balanced dialogue” for the good of the game and in the “spirit of solidarity and fair play.”

Facebook Clones Clubhouse, Launches A Range of Audio Services

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In yet another attempt to ward off a potential threat, Facebook announced on Monday it is delving into audio services.

Rattled by the popularity of Clubhouse, Facebook is taking, what is now a custom, step to clone the audio chat platform. It is similar to its moves into the services of other social media platforms such as YouTube, Snapchat and short-video app TikTok.

Social media audio has seen a growing acceptance as podcasts become a way of putting out contents. Live social audio on Clubhouse and Twitter Spaces have been taken to another level, attracting a growing number of fascinated people.

“At Facebook, we’ve seen the continuing rise of audio on our platforms, from audio on our platforms, from audio calls to audio messages on WhatsApp and Messenger. We’re working to make audio messages easier to record, and more fun – including the ability for people to send familiar sound clips to their friends that range from sound effects like crickets chirping to quotes from popular songs,” Facebook said in a statement.

The social media company said the live audio product, called Live Audio Rooms, will be tested in Facebook Groups. It plans to make the feature available to everyone on Facebook this summer and incorporate it in its messaging app, Messenger. Reddit also announced its own Clubhouse-like product on Monday.

Facebook wants to “treat audio as a first-class medium in the way that we treat photos and videos,” CEO Mark Zuckerberg said Monday in an interview with journalist Casey Newton on another group-chatting platform, Discord.

The Live Audio will be tested in Groups, to make it available to the 1.8 billion people using Groups every month, the company said. Another feature of the Live Audio are Rooms that will make live audio both accessible and discoverable so that public figures can share ideas with new audiences and create a forum for discussion without using camera.

Podcasts are also coming to Facebook. People will soon be able to listen to and discover new podcasts directly on the Facebook app, as they already can on alternative platforms like Spotify and Apple’s podcast app.

Facebook said more than 170 million people are already connected to hundreds of thousands of podcast pages on Facebook, and more than 35 million people are members of fan groups around podcasts, but until now, they all have to leave Facebook to listen to episodes.

“Within the next few months, you’ll be able to listen to podcasts directly on the Facebook app – both while using the app or when the app is backgrounded,” the social media platform said.

Another new product is called “Soundbites. They are audio clips that are short-form like TikTok videos but are instead audio-focused with captions. The feature will first be available to a select number of creators, including comedian Drew Lynch and motivational speaker Molly Burke.

“We’ll start testing Soundbites over the next few months with a small number of creators and refine the product with their input before making it available to everyone,” Facebook explained.

Facebook also announced plans for creators to be able to make money with these new audio tools. This would include charging for access to Live Audio Rooms and using Facebook Stars, its tipping feature. The company is also launching an Audio Creator Fund to support those using its Soundbites feature.

“Soon after launch, we’ll also offer other monetization models, like the ability to charge for access to a Live Audio Room through a single purchase or a subscription,” Facebook said.

Zuckerberg said Monday that he likes audio since theoretically people can more easily consume it while multitasking and also because the production is “more accessible.”

“A big part of the creator economy is that it’s empowering individuals,” Zuckerberg said. “I think that’s a positive trend in the world.”

Facebook said everything is being built together to help creators to turn live conversation into a podcast for everyone to listen to later.

Britcoin: UK Joins the List of Countries Exploring Digital Currency

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Britain has become the latest country to join the digital currency trend. British authorities announced Monday they are exploring the possibility of creating a new digital currency that Treasury chief Rishi Sunak touted as “Britcoin.”

“We’re launching a new taskforce between the Treasury and the Bank of England to coordinate exploratory work on a potential central bank digital currency,” Sunak said at a fintech industry conference on Monday.

The Bank of England and the Treasury said Monday that they will work together to assess the benefits of a central bank digital currency, that will be used by households and businesses, and exists alongside cash and bank deposits, rather than replacing them. It is all coming at a time when cash payments are generally on the decline, partly as a result of the coronavirus pandemic.

The authorities are yet to decide whether to introduce a digital version of the British pound. London said it would explore the objectives, use cases, opportunities and risks, involved before making the move. The Bank of England will also set up a unit within the institution dedicated to exploring a central bank digital currency.

The rise of cryptocurrency has inspired the move by many countries to create digital currencies, offering digital alternative to their fiat.

Digital currencies are being explored or even implemented in several countries now. China leads the way with digital yuan, while Japan has moved way into its own experiment. The European Union, Sweden and the United States have all expressed interest in creating digital currencies.

“The world is going the way of digital currencies and we have to find a place for them in the mainstream,” said Anne Boden, founder and chief executive of app-based Starling Bank.

Another factor driving Central Banks’ Digital Currencies (CBDCs) push is private stablecoin projects like Diem Association backed by Facebook and the token known as tether. To avoid the common cryptocurrency volatility, these coins have been pegged to some external reference such as the US dollar.

One of the benefits of a digital currency would be as a backup to card payments as cash payments continue to decline. It is expected that by the end of this decade, only one in 10 payments in the U.K. are to be made with traditional paper money. Proponents of digital currencies also think they can provide another way for people to make purchases online.

Currently, only the Bahamas has such a currency, but China is likely going to launch the digital yuan soon as its trials continue in several cities. Sweden has indicated it could have its own digital currency by 2026, while the European Central Bank has indicated an electronic euro might be created within four years.

The new British task force is part of a series of measures that Treasury chief Sunak hopes will help the U.K.’s financial technology sector.

“Our vision is for a more open, greener, and more technologically advanced financial services sector,” he told a fintech conference. “And if we can capture the extraordinary potential of technology, we’ll cement the U .K.’s position as the world’s preeminent financial center.”

The Bank of England said the Taskforce will be co-chaired by Deputy Governor for Financial Stability, Jon Cunliffe, and HM Treasury’s Director General of Financial Services, Katherine Braddick. The aim is to work with newly created forums and units to develop synergy with other UK and international authorities, and also engage stakeholders and gather input on all technology aspects of CBDC from a diverse cross-section of expertise and perspective.

Register And Let Us Master the MECHANICS of Market Systems

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In junior secondary, the Integrated Science teacher introduced us to mechanical advantage. Mechanical advantage (MA) is your load  (your resistance force) divided by effort (your effort force) This equation is the heart of all simple machines. That mechanical advantage is linked to another  property called Velocity Ratio (VR) which is determined by dividing the distance moved by effort by the distance moved by load. In an ideal world, MA and VR should be equal for a 100% efficient system. That is how you get Efficiency = MA/VR *100%. Unfortunately, you have wear, tear and frictions.

Yes, FRICTIONS which are also in market systems. Frictions make it impossible for demand and supply to attain a perfect equilibrium point in markets, due to many factors including information asymmetry in markets. To overcome Frictions, we create companies, which go to fix them. Companies use inputs ( factors of production) to produce a force called Products  & Services. Great companies use less inputs to bring out great outputs (products & services). 

You can see, markets can be modelled under physics and that means what happens in markets can be largely predictable. Innovatively disruptive companies reshape the ordinance in markets, bringing orders of magnitude in the efficiency level of the translation of input to output. They create orthogonal paths, different from others and set a new basis of competition.

Join me and 140 global faculty as we explain the Mechanics of market systems at Tekedia Mini-MBA. The next edition begins June 7. It is 100%, self-paced and costs N50,000 or $140. Register today.

Mechanics is the machinery or working parts of something. Yes, motion and forces producing motion. In mechanics of markets, you understand how markets work. You master the forces and motions in markets, looking at demand and supply. You see the momentum in markets through the translation of mass and velocity into scale and execution vision. We make business physics – and that is a good thing. JOIN US.

How To Launch A New Company – Tekedia Live

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Exfida helps you manage sales, grow revenue, track activities that are critical to the delivery of your services to customers. It is a very new company which has been adding new customers. It has operations in Lagos (Nigeria) and Melbourne (Australia). So, we selected it to help our members to lead a session on “How To Launch A New Company” for Tekedia Mini-MBA Live. This is part of our Execution Phase where we are bringing companies to share experiences to our Learners.

Besides being new, Exfida also has another attribute – it is a great new business out of an existing one. So, Exfida provides a thesis for starting new, and even when inside a bigger firm. Zoom link in the Board.

Tue, April 20 | 11am – 12 noon WAT | How To Launch A New Company – Exfida Team