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European Football Clubs Spent €3.3bn on New Transfer Deals, 40% less than in 2019

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Real Madrid's Portuguese forward Cristia

Football Clubs in Europe Spent €3.3bn on New Transfer Deals

The year 2019 has witnessed a record value of football transfer deals, with clubs in Europe’s “Big five” leagues spending €5.5bn, €900m more than the 2018 summer transfer window.

However, with far less money available to football clubs and a steep drop in footballers’ value, the coronavirus outbreak triggered a sharp fall both in the volume of transactions and transfer fees.

According to data presented by SafeBetting Sites, the combined value of 1,381 transfer deals completed in the 2020 summer transfer window hit €3.3bn value, a 40% plunge year-over-year.

Premier League Clubs Completed €1.6bn Worth of Deals, 48% of Total Deal Value this Season

As the leading European football league in terms of revenue and brand value, the Premier League also tops the list of completed transfers deals in season 2020/2021. During the 2020 summer transfer window, Premier League’s clubs spent a total of €1.6bn on acquiring players, almost 50% of total transfer deal value this season, revealed the TransferMarkt and The Guardian data. Statistics show that Kai Havertz’s €80 million worth transfer from Bayer Leverkusen to Chelsea represents the most valuable deal in Premier League and Europe in the 2020/2021 season.

With €882.3 million spent on 353 transfer deals, Italy’s Serie A ranked as the second-leading football league in Europe. On September 1st, a former Lille player Victor Osimhen signed a five-year contract for SSC Napoli with a transfer fee of €70 million, the most valuable deal in Serie A this season, and the third-largest in Europe. Statistics also show the market value of the 21-year old center-forward player jumped by €10 million in 2020, growing from €30 million in December 2019 to €40 million in August.

Spanish La Liga ranked third among the European football leagues, with its clubs spending €807.1 million on 256 transfers. The TransferMarkt data revealed that Arthur Melo’s €72 million worth transfer from Barcelona to Juventus represents the most valuable deal in Spain this season and the second-most valuable in Europe.

Top Three Football Transfers hit €222 Million Value

The Guardian and TransferMarkt data revealed that football clubs competing in the French Ligue 1 spent a total of €736.9 million on 323 transfer deals at the start of the new season, ranking in the fourth place among the “Big five” European leagues. Bundesliga clubs follow, with €600.7 million worth of transfer deals, respectively.

In 2019, the combined value of the three most valuable football transfers amounted to €323 million. Joao Felix’s €126 million worth transfer from Benfica to Atletico Madrid represented the biggest deal last year. Antoine Griezmann’s transfer from Atletico Madrid to Barcelona and Eden Hazard’s transfer from Chelsea to Real Madrid followed, with €120m a €100m value, respectively.

Statistics indicate the combined value of the top three football transfers in the season 2020/2021 hit €222 million, 31% less compared to last year’s three most valuable deals.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Education

FG Abolishes 18-Year Age Benchmark For Admission Into Tertiary Institutions

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The new Minister of Education, Tunji Alausa, has abolished the controversial 18-year admission benchmark for tertiary institutions in the country.

This is coming as the minister indicated interest in reviewing the nation’s education policy.

However, Alausa stated that there would be no reversal of the Federal Government’s decision to void over 22,700-degree certificates obtained by Nigerians from some “fake” universities in neighbouring Togo and the Benin Republic.

Alausa spoke on Tuesday at his inaugural ministerial press conference in Abuja.

He stated that practical education will help to address the unemployment situation in Nigeria, as tertiary institutions will not continue to churn out graduates every year without providing jobs for them.

He disclosed that the Federal Government will collaborate with private sector operators to train students in order to discover and unleash their potential.

Alausa added that universities of agriculture will be empowered to adopt commercial farming practices to combat food insecurity.

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Outrage in Equatorial Guinea: Government Restricts WhatsApp Multimedia Sharing Amid Scandal

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There is outrage in Equatorial Guinea as the government restricted its citizens from downloading and sharing multimedia files using mobile data on WhatsApp.

This decision followed the guidelines that the country’s government gave to telecommunications operators when it urged them to implement measures to restrict access to inappropriate content.

The country’s Director General, National Financial Investigation Agency, Baltasar Engonga, has been involved in a sex scandal involving the wives of notable people in the nation.

The scandal emerged in the course of a fraud investigation against the 54-year-old economist which resulted in the search of his house and office on impromptu notice by ANIF officials who came across several CDs that later revealed his sexcapades with different married women.

It was reported that the over 400 videos include encounters with high-profile individuals, such as his brother’s wife, his cousin, the sister of the President of Equatorial Guinea, the Director General of Police’s wife, and about 20 of the country’s ministers’ wives, among others.

The footage, discovered in his office, was said to have been recorded with consent and has since been leaked online, causing a media uproar.

But, in a new development on Tuesday, it was reported that the citizens have been lamenting their inability to share photos, videos, and audio when using a mobile data connection, leading users to rely exclusively on WiFi networks to share such content.

Sources revealed that the restrictions have been affecting business and academic activities in the country.

Citizens wonder why the actions of a few individuals would result into holding thousands of other innocent ones hostage.

Earlier, the Vice President of Equatorial Guinea, Teddy Nguema, announced plans to install surveillance cameras in all state body offices.

This sweeping measure is part of an ongoing effort to ensure strict adherence to public service laws and combat misconduct among officials.

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NCC Confiscates ₦23 Million Worth of Pirated Books During Bookstores Raid In Uyo

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The Nigerian Copyright Commission (NCC) on Saturday, November 2, confiscated ₦23.1 million in pirated books from local shops, including Academic Needs and Zion Bookshop during a raid in Uyo, Akwa Ibom State.

The raid was by the Deputy Director of Operations, Mr Macfoy Akachukwu, representing the NCC Director General, Dr. John Asein.

Akachukwu, who stated that the raid was a significant operation to combat the rampant sale of pirated books, listed the books seized during the raid to include: Basic Civic Education by Dr Merry Ukaegbu, Spectrum New Further Mathematics by T.R. Moses and Essential Christian Religious Study for Senior Secondary Schools by Orovwuje B.O and Okolie E.U.

Other books included Macmillan Brilliant English for Junior Secondary Schools by Wale Ossianwo, New General Basic Science for Junior Secondary Schools by S. Ajayi, New Oxford Secondary English Course for Secondary Schools by Ayo Banjo and New Concept Mathematics for Senior Secondary Schools by H.N. Odogwu among others.

Major publishers affected by the raid included Evans, UPL, Lantern, Longman, TONAD, and Pearson among others.

According to Asein, the operation is important as it was part of a nationwide initiative to protect authors’ rights.

“What we have done is part of the commissions mandate to protect and promote the rights of authors and other genuine investors in the copyright book industry,” he stated.

He reaffirmed that the NCC is committed to “eliminating the sale of pirated works and to establish a robust copyright framework in Nigeria”.

Asein emphasized that authors deserve to benefit from their creative work and not run into financial losses because of piracy.

“It is our duty to ensure that authors get rewards for their creative work. I have under my watch, zero tolerance for piracy and infringement of Copyright Laws,” Asein said.

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