5 things you need to know in SA business and the 13 most valuable soccer clubs in the world
1. South Africa will probably get a new cabinet later today. David Mabuza may again end up as deputy president, after being sworn in as a Member of Parliament yesterday. Mabuza is linked to a number of scandals while he served as premier of Mpumalanga.
2. Meanwhile, the rand tanked yesterday – due in part to Mabuza’s return.
"Investors worry that Ramaphosa will not be able to root out corruption from the top echelons of the government as promised, endangering his reform agenda," Per Hammarlund, the Stockholm-based chief emerging-market strategist at SEB AB, told Bloomberg.
The currency was last at R14.69/$ - around its weakest levels in seven months.
3. Shareholders in Sibanye-Stillwater approved its takeover of Lonmin, in a deal that will create the world’s second-largest platinum producer. Both shares rallied hard yesterday. Lonmin shareholders will receive one new Sibanye-Stillwater share for each Lonmin share they hold.
4. Transport workers union Satawu are threatening a “total shutdown” of South Africa’s ports tomorrow. They are unhappy with alleged salary discrepancies between black and white workers.
5. Public Enterprises Minister Pravin Gordhan has filed a scathing affidavit in the North Gauteng High Court, saying Busisiwe Mkhwebane, the public protector, has revealed 'stunning incompetence, irrationality and negligence' in the performance of her duties. He wants the court to set aside a report by Mkhwebane which found he acted improperly in granting early pension with full benefits to Ivan Pillay, a former deputy SARS commissioner in 2010. In the affidavit, he also accuses her of being part of a political campaign against him.
The 13 most valuable soccer clubs in the world
Reported by Alan Dawson
There are 13 soccer clubs on the planet worth more than $1 billion each, according to KPMG.
The financial service firm published its report on "The European Elite 2019: Football Clubs' Valuation" on Monday, and it shows six English clubs are in its top 10 list, while four have pushed past the $3 billion threshold.
The report highlights how the "big five" domestic soccer leagues in Europe - England's Premier League, Spain's La Liga, Germany's Bundesliga, Italy's Serie A, and France's Ligue 1 - have retained their power in the sport.
The only thing that really changes year on year is the placement of the wealthiest - and therefore the best - clubs.
KPMG identifies a club's worth by its "enterprise value," calculated using an algorithm that looks at five factors:
- Profitability, which considers the ratio of staff and player costs to revenue;
- Popularity, looking at the number of followers each club has on social media platforms like Facebook, Instagram, Twitter, and YouTube;
- Sporting potential, or a club's overall roster value, which is calculated using a "Player Valuation" tool;
- Broadcasting rights, which KPMG says "play a fundamental role in the revenue generation potential" of soccer clubs;
- Stadium ownership, which, after squad value, can be one of the greatest assets a soccer club has.
Here are the 13 most valuable soccer clubs in the world, ranked in ascending order:
13: Atletico Madrid in Spain's La Liga — $1.15 billion.
12: Borussia Dortmund in German's Bundesliga — $1.25 billion.
11: Paris Saint-Germain in France's Ligue 1 — $1.5 billion.
10: Juventus FC in Italy's Serie A — $1.75 billion.
9: Tottenham Hotspur in England's Premier League — $1.9 billion.
8: Arsenal FC in England's Premier League — $2.3 billion.
7: Liverpool FC in England's Premier League — $2.4 billion.
6: Chelsea FC in England's Premier League — $2.5 billion.
5: Manchester City in England's Premier League — $2.8 billion.
4: FC Barcelona in Spain's La Liga — $3 billion.
3: Bayern Munich in Germany's Bundesliga — $3.1 billion.
2: Manchester United in England's Premier League — $3.65 billion.
1: Real Madrid in Spain's La Liga — $3.68 billion.
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