Aston Villa billionaire owner criticises Premier League

Aston Villa’s owner from Abu Dhabi threatened to go to legal advisors, over the spending policies of the Premier League, at the same time a dramatic move by Manchester City follows a legal action. Within two days of the start of City’s hearing against APAs, Nassef Sawiris came out with apprehensions that mistakenly reflected about broader profit and loss and sustainability restrictions.

Aston Villa billionaire owner criticises Premier League

Egypt’s richest man, Sawiris, was angered by what he referred to as “anti-competitive” rules saying: “The rules do not make sense and are not good for football. ”

Telegraph Sport disclosed indications last week that Sawiris provided some of City’s apprehensions a last December that he made a utter to the UAE capital amid astound hub.

One of the rival clubs with the response of some sources stating it is not Villa is said to be fully supporting the action brought by City during a hearing lasting two weeks before champions’ case against 115 charges.

“Some of the rules have actually made it highly rigid with regards to the status quo than to allow for a change and mobility of individuals in the sport,” said Sawiris to FT.

“Evaluating a sports team is now more similar to what a treasurer or an accountant should do rather than what is needed to advance in sport For it is more about producing figures on paper, not real figures of profit The latter is a pastime now More of a financial pastime than a sport’s pastime. ”

Owner of Villa has voted

The owner of Villa have voted along with City in at least two matters this year at Premier League Shareholder meetings and last week at the league’s AGM the club were defeated in a motion put to the league to increase allowable losses in the last three year period by only one other club.

As it has been seen in the current City case the outcome hold implications to competing clubs courtesy of the possibilities of having the size of sponsorship deals that they are capable of partaking lowered.

V Sports, a joint venture between Sawiris and American billionaire Wesley Edens, has held complete ownership of Villa since 2019. It is a somewhat obscure multi-club regime inside the league, including a network that consists of Portuguese club Vitoria SC, as well as agreements with teams in Spain, Egypt, and Japan.

Sawiris expressed to the Financial Times

Sawiris expressed to the Financial Times that the PRS guidelines are “unclear and seemingly random,” and that they prioritise generating theoretical profits rather than actual earnings. “It transforms into a game of finance, rather than a game of sport,” he appended.

Sawiris’ NNS Group declared its participation in a recent trend of international investors establishing operations in the emirate that has City. In late 2021, the joint fertiliser venture between Dutch chemical firm OCI NV, chaired by Sawiris, was listed in the emirate alongside Adnoc.

“In December,” Sawiris stated, “I am pleased to declare our enduring dedication to the UAE and ADGM [Abu Dhabi Global Market].”

“NNS believes that moving its key activities to the UAE will enhance the development and growth of its portfolio and core activities, given the UAE’s significance in the global financial ecosystem.”

Leicester City has also expressed their intention to take legal action against the Premier League due to a potential breach of the Premier League’s Profit and Sustainability Rules (PSR).

Aston Villa billionaire owner criticises Premier League

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