Latest news with #KnightheadCapital
BBC News
4 days ago
- Business
- BBC News
Birmingham Sports Quarter - what you need to know
Plans for a new Sports Quarter in Birmingham are moving forward, with billions of pounds earmarked for the project and excitement growing in the city. The project is being led by the US owners of Birmingham City Football Club (BCFC) and at the heart of the plans is its new 62,000-seat Tom Wagner, co-founder of Knighthead Capital Management, says the benefits will be felt far beyond Blues fans, with transport links transformed, thousands of jobs created and a super stadium to hold world-class City Council has stated the quarter would be a "sporting centre of excellence". Here we explore where the Sports Quarter will be, what will be in it and when it might become a reality. What will be in the Sports Quarter? Wagner told BBC Sport in June his vision was to create "an entertainment venue unlike many others in the world". The plans include a 62,000-seat stadium, more than double the capacity of the current Blues ground. Wagner said it would also include a 15,000 to 20,000-seat arena and a show pitch."The goal will be to host a whole range of international events not solely in football but [including] American football and rugby," he said. Birmingham City FC has said the multi-use stadium will include a retractable pitch to allow for concerts and other non-sporting events to take will build a training complex for their professional senior teams and academies, and the site is set to also include community pitches, retail and education. "There will be provision for housing and hotels, recreational facilities and plenty of green space," the club said. Wagner told the BBC it was a "unique opportunity"."If you were to look across western Europe, you would be hard-pressed to find another city with that much land available within walking distance of the city centre, where a project of this magnitude can be created and done so in an economically viable way," he said. Alongside these plans, Wagner and his team have strong ambitions for the Blues, who were promoted from League One last season with a record 108-point haul. Where will the Sports Quarter be? When Knighthead bought Blues in July 2023, they told fans they believed the club's potential was "unlimited".Less than a year later, in April 2024, they completed the purchase of the 48-acre former Birmingham Wheels motorsport site in Bordesley, less than a mile away from St Andrews, the club's home since Wheels closed in 2021, after 40 years of hosting go-karting, stock car racing and skating events, and was once the home of the Birmingham Brummies speedway team. The city council-owned site had long been touted as a potential development site for Birmingham City, and its future had been hanging in the balance for some than £17m of the government's Levelling Up Fund was allocated to it for remediation site off Adderley Road is in a key - but deprived - location, ripe for redevelopment. It is less than a mile from the city centre, just off the ring road and close to Adderley Park railway has said the site was "not serving the local community" despite being surrounded by hundreds of homes. How will transport links be transformed? The project really gained momentum last month, when Chancellor Rachel Reeves visited St Andrews and announced a £2.4bn investment in West Midlands transport links, with the Sports Quarter at the heart of the masterplan. A planned extension of the Midland Metro would mean a direct tram route to the Sports the East Birmingham Metro to North Solihull Metro Extension, it will take people from the Eastside area of the city and serve the likes of Millennium Point, Birmingham City University, the Curzon Street HS2 station and Digbeth. Digbeth is home to the Digbeth Loc. Studios, set up by Peaky Blinders creator Steven Knight, and construction is under way for the BBC's new Tea Factory base. Longer term, this tram line is planned to take passengers to North Solihull - including to Birmingham Airport, the NEC and the HS2 Interchange. How will the community benefit from a Sports Quarter? The government has estimated the project would transform the Bordesley area of Birmingham, creating 8,400 new jobs and driving further investment from private firms. Wagner is expected to invest up to £ Richard Parker told BBC WM presenter Ed James many of the jobs were expected to be the first jobs of young people from the surrounding communities. starting out in employment. He explained this was "really important because this part of the city is one of the most deprived", and he and Wagner hoped to open up job opportunities for young Blues chairman has said the club had a proud history of giving back to the local community and the project would deliver opportunities "and prosperity lasting generations in one of the poorest parts of the whole of the country". "And that's something in which we should all be very proud," he added. Who is behind the project? In June 2023, the English Football League approved US-based Shelby Companies Ltd's takeover of Birmingham Companies is a subsidiary of Knighthead, which was co-founded by Tom Wagner and Ara Cohen in 2008. Wagner told Blues supporters in an open letter that Knighthead's expertise was in "turning around and transforming organisations that are experiencing difficulties". He wants fans to be involved in the journey. Parker said Wagner had been looking to get a foothold in the sports industry in the UK and "had made his money by investing in what have been unloved and neglected" assets, adding, "Let's be frank, the football club had been for a number of decades." Excitement grew when Tom Brady, the NFL quarterback and seven-time Super Bowl winner, became a minority owner of the Championship club months after retiring in 2023. Wagner said Brady was investing and "committing his time and extensive expertise". When will the Sports Quarter become a reality? Wagner told BBC Sport they expected the club to be using its new stadium in the 2030/31 season, which was the timeline that looked "most achievable at present". Certainly, the government investment was a turning point when many started to believe the Sports Quarter would become a O'Neill and his son Matt, who co-host the BCFC Royal Blue podcast, told followers it was a "huge" day for the club which would sway "even the most sceptical fan" who had not dared to believe it would said the proposal was initially "laughed at" by some people on social media and attracted lots of comments from other fan bases but now felt real."This just feels like something special," he said. The Midland Metro Alliance said initial development for the East Birmingham to Solihull link was under way by Transport for West Midlands. "As with other new light rail schemes, the extension will require a Transport and Works Act Order application to be submitted, providing the powers to construct, maintain and operate the tramway" on that route. Richard Parker said the owners were aiming to secure outline planning permission soon and after that were looking to make "real progress" with the stadium by 2028/ also told the BBC a task force was put together to drive the Sports Quarter project and help the key stakeholders work together with clarity about their objectives. "The pace of this is phenomenal," he said, adding the sense of ambition shown by Wagner, Steven Knight and others committed to the city had "captured the imagination, not just of people in this region, but of government too". Follow BBC Birmingham on BBC Sounds, Facebook, X and Instagram.
Daily Mail
10-07-2025
- Entertainment
- Daily Mail
Awkward moment Birmingham soccer fans have no clue who Tom Brady is in new series on NFL legend's takeover
Tom Brady 's takeover of Birmingham City FC is chronicled in a new fly-on-the-wall Amazon Prime docuseries - which captures some of the English soccer club's fans initially not having a clue who he is. The legendary NFL quarterback acquired a minority 3.3 percent stake of Birmingham, who were in the second-tier Championship at the time, back in 2023 after entering into a partnership with owners Knighthead Capital Management LLC. In his first season with the team, he tasted the rare feeling of failure when they were relegated to the third division, before they immediately returned to the Championship after earning promotion last season. And Brady's early days in Birmingham are captured in the soon-to-be-released Amazon Prime docuseries 'Built In Birmingham: Brady & The Blues', which premieres on August 1. In a teaser clip promoting the series, four fans of the club are asked for their thoughts on Brady - which sparked a hilarious reaction from all of them. 'Who?' one woman initially asks. One supporter even says: 'What he knows about football you could put on a postage stamp' Another then says unconfidently: 'He was a sportsman, wasn't he?' Before a male fan goes as far to say: 'Tom Brady, who's he? Probably what he knows about football you could put on a postage stamp.' Brady has attended two Birmingham matches in the flesh since acquiring his minority stake almost two years ago. The seven-time Super Bowl winner began his $375million contract as an NFL commentator for Fox Sports last year, meaning he had commitments for the network from September up until the Super Bowl in February. That will be the same when the 2025 NFL season gets underway in September of this year, which will make it tough for him to attend Birmingham games past the first month of the 2025-26 Championship campaign in August.\ After they secured promotion back to the second flight in April, a proud Brady congratulated his club on social media.
Top Gear
04-07-2025
- Automotive
- Top Gear
Revology 1967 Shelby GT500 review: the bar for resto Mustangs just got much, much higher Reviews 2025
Bite your cynical alter ego's tongue, please. This is a 1967 Shelby GT500, built by the fine folks of Revology Cars, which means it's not just another restomod slapped together to make a quick buck off of people who refer to all classic Mustangs as 'an Eleanor'. Does it now? Indeed. If you recall our last run-around with a Revology Mustang, there was much bristling around the label 'restomod' from company founder and CEO Tom Scarpello due to the association the term has with the roughshod junk flooding the Mustang market. After an exhaustive deep dive into how Revology makes its products – including a walkthrough of its Florida facility – we're here to tell you that is very much not the case here. Where's Revology at these days? Physically, in Orlando, Florida. But business-wise, they're in a good place. Revology now lives under the umbrella of Knighthead Capital Management, which doesn't mean much to the average Joe on its own, but is relevant here because Knighthead also has a controlling stake in Singer, the famous Porsche restoration company. Though the two companies operate independently, to be able to call Revology 'the Singer of Mustangs' is worth the association alone. It's a great shorthand for the level of quality Scarpello and crew are committed to with their offerings. Enough business talk. Power! Speed! Yes! This Shelby GT500 is fitted with a Ford/Roush 5.0-liter supercharged V8 that screws up 710hp and lays it all down to the rears by way of a six-speed manual. You can hear it screaming out the back of the Borla exhaust Revology had tuned specifically for this car and it sounds as powerful as it feels. It doesn't feel right to simply say 'pretty good' without talking about build quality first, and my summary is barely going to do the process justice. Stick with us, this is cool. Let's start by saying Revology builds its cars like an OEM, which was evident throughout a tour of what is basically its mini assembly plant. There is no 'let's take an old Mustang and shove aftermarket bits' here, there is an agonizing design and build process that has a legacy automaker's level of scrutiny throughout each stage, most of it unsexy but no less fascinating. I sat through a 30-minute presentation about making a better powered window, and was transfixed by the level of importance this and other oft-overlooked components receive. Returning to the Shelby, this GT500 benefits from a number of updates made to the recent batch of Mustangs, including a revised assembly process that now includes the use of structural adhesives to improve rigidity. As I climb in, Scarpello is eager to point out a number of upgrades. The seats? New and sourced from the Mazda MX-5, because the answer is always Miata. Even in other cars, apparently. They're just a better fit, physically and thematically, than what the aftermarket offers. Pedal geometry adjustments and tweaks to the gearbox have been made, which Scarpello points out as a fix to one of the observations I made in the 'Bullitt' Mustang I drove before.
New York Times
25-06-2025
- Business
- New York Times
Birmingham in advanced negotiations over Demarai Gray return
Birmingham City are in advanced negotiations to sign Demarai Gray from Al Ettifaq. Birmingham and Al Ettifaq remain in discussions over the structure of a potential deal, with Gray interested in a return to the club where he progressed through the academy and made his professional debut. Gray, 28, joined Al Ettifaq from Everton in the summer of 2023 and has a contract with the Saudi Pro League side that runs through to 2027. Advertisement The Jamaica international has made 50 appearances for Al Ettifaq during his two seasons at the club, providing four goals and five assists. A potential move to Birmingham would see Gray return to the club nine and a half years after he departed for Leicester City in January 2016. He joined Birmingham's academy at under-11 level and broke into the first team at the age of 17. Gray made 78 appearances for Birmingham between 2013 and 2016 before signing for Leicester, who went on to win the Premier League title during his debut season at the club. He subsequently had spells at Bayer Leverkusen and Everton before moving to the Saudi Pro League in the summer of 2023. Birmingham are preparing for their return to the Championship after winning League One with a record points tally last season. The 2025-26 campaign will be the club's third under the ownership of American investment firm Knighthead Capital, with NFL great Tom Brady on board as a minority shareholder.
Daily Mail
22-06-2025
- Business
- Daily Mail
Why do so many sports stars go into football ownership? Gareth Bale could be latest high-profile icon to move upstairs as ex-Real Madrid man is lined up for Cardiff investment
One of the most curious questions in sport comes when a player calls it a day. What do they do with their free time? Punditry? Coaching? Sail off into the sunset to sit on their millions? It appears there is a new craze: ownership. More and more we are seeing former stars venture into the world of football business, and the latest name may be about to be added to what is becoming a lengthy list. That name belongs to a Welshman who became one of the best players of his generation. It belongs to Gareth Bale. According to The Athletic, Bale has been lined up by a US-based private equity group to front a takeover bid of Cardiff City. The group are said to be in talks over taking ownership of the League One outfit and are looking to partner with Bale as they look to strike a deal. Bale, who has ventured into punditry since retiring last year, could be set to become the new face of the Bluebirds. But which other sport stars have ventured into the world of football ownership? And why? Mail Sport takes a closer look... Gareth Bale is reportedly being lined up to front a takeover of League One side Cardiff City Tom Brady - Birmingham City NFL legend Tom Brady is a minority stakeholder in Birmingham City, regularly seen at games last season, in particular the EFL Trophy final defeat by Peterborough at Wembley. Tom Wagner of Knighthead Capital was behind the £35m deal to take over the club in 2023, before Brady hopped on board. When Brady jumped on board in 2023, Birmingham were fighting for their Championship status but it was too much of an ask under, for some of the run, the leadership of Wayne Rooney. Brady and Co got rid of John Eustace when he had the club challenging for the play-offs, hired Rooney, and spiralled towards relegation. Tony Mowbray and Gary Rowett tried to save them, but it was too little, too late. In the summer, they appointed Chris Davies to steer the ship and they have stormed the third tier. That's not been without spending over 30 times more than any other team in the league - including Wrexham - with Jay Stansfield the biggest purchase at £15million. Wagner, who is a financer by trade, spoke of his ambition to make his side a globally-recognised brand, spouting: 'You go to New York City, you go to LA (Los Angeles), you will see people wearing Birmingham City kit on the street. 'I don't really think they know what they're wearing but they will. We don't want to draw too much attention to it yet but they'll figure it out.' Luka Modric - Swansea City A Ballon d'Or winner and Real Madrid 's most decorated star with 28 major trophies and a veteran of 186 Croatia caps, Luka Modric has joined Swansea as an investor and co-owner. 'This is an exciting opportunity, Swansea has a strong identity, an incredible fanbase and the ambition to compete at the highest level,' he said upon the announcement, while holding a Swansea-branded football. Swansea's new owners have spoken about the need for the Welsh outfit to increase revenue and cut costs after the club made a pre-tax loss of £15.2million in the last financial year, and £17.9m the year before. They were looking for a world-class player to join as an investor to raise the club's global profile, with chairman Coleman saying Swansea must become 'a Championship club not doing Championship things'. Feelers were put out and Modric's long-term agent, Borja Couce, revealed his client was keen to seize the opportunity. Conversations ramped up at the end of last year, but the move was kept under wraps - Mail Sport understands large numbers of club staff weren't even aware something was brewing until a deal was near completion. Multiple meetings were held between Modric, Couce and Swansea's ownership over video call, and members of the club's hierarchy visited the Croat in Spain. Ronaldo - Real Valladolid Widely regarded as one of the greatest strikers in the history of football, Ronaldo - the Brazilian one - had delved into ownership in his post-playing days. O Femomeno was the majority shareholder in Spanish second division club Real Valladolid, who finished bottom of LaLiga last season to suffer relegation to the second tier again. The forward maestro took over the club in 2018, promising to take it forward - and fast. He took on 51 per cent of shares for a reported fee of around £22.3million, ans took on the role of board president. His four years in charge were certainly not boring. His side achieved two promotions but also suffered two relegations - finishing on `6 points last year, which was half the amount of the next-worst team and 25 short of safety. On the back of the disastrous campaign, the Brazil icon sold his stake in the club. His relationship with the fanbase had been damaged, and he had made just one visit to a game in the season. Fans donned banners reading 'Ronaldo Go Home', and they now have their wish. There are now new investors in charge and hopes of a brighter future. The Class of 92 - Salford City Salford City are bidding to 'do a Wrexham' under Manchester United icons David Beckham and Gary Neville after the duo were announced as the spearheads of a new ownership group. It meant that the rest of their former Class of 92 stars would be stepping away. The former Manchester United stars had held a 60 per cent share in the League Two club along with Paul Scholes, Phil Neville, Nicky Butt and Ryan Giggs. However, that quartet has now handed over their shares while Beckham and Neville have brought in new partners and investment of between £11-15million as they target Championship football within five years. Butt is no longer at the club, although Scholes will continue to advise on player trading and Giggs will do likewise on football matters. Peter Lim, the Singaporean businessman whose financial muscle saw the Ammies power through non-league with four promotions in five years, left last year. Beckham - who also fronts Inter Miami in the MLS - and Neville will be joined by Declan Kelly, founder of U.S.-based advisory firm Consello, and Lord Mervyn Davies, chairman of the Lawn Tennis Association. The group first became involved in 2014, and oversaw promotion to League Two. Since then, though, they have struggled, reaching the play-offs just once. Zlatan Ibrahimovic Zlatan Ibrahimovic, known for his character off the field as much as his abilities on it, finally called time on his career in the summer of 2023. It was a career that saw him turn out for the likes of Barcelona, Manchester United, Paris Saint-Germain and Juventus, and came to and end at AC Milan. The 43-year-old couldn't stay away, though. He was preparing for life after football before his retirement, and purchased a 23.5 per cent stake in Hammarby IF - a Swedish top flight club based in Stockholm. The current season is ongoing, with Ibra's side - who he once joined in a training session - second in the table with eight wins from their 13 matches so far. They also finished second last season, after coming seventh the year before and third the year before that. Good progress from Ibrahimovic, and a relatively low-key venture. That is apart from when Malmo fans vadalised his statue, given they were unhappy with his move. Paolo Maldini One of the greatest players of all time also makes the list, with Italy icon Paolo Maldini moving into the ownership world when he hung up his boots. Maldini forged an unforgettable playing career with AC Milan and Italy, winning three Champions League titles, seven Italian titles and one Italian Cup. But it was America where he ventured too post-retirement. He was offered the chance to join Carlo Ancelotti's coaching staff at Chelsea in his post-playing career, but he rejected the chance and said he didn't want to go down that route. And, in 2015, he became the co-owner of North American Soccer League club Miami FC. The hope was that the club would be able to join the MLS in the future. That is still yet to happen, with Maldini no longer invovled. Alessandro Nesta was the club's first manager, but there are plenty of ambitions still to realise. Maldini left in 2018 when he accepted the role of sporting director at Milan - which he has now left. Time will tell if he returns to ownership. He became the co-owner of North American Soccer League club Miami FC before leaving shortly after to rejoin AC Milan Jamie Vardy, meanwhile, invested in Rochester New York FC - a side which sadly folded More... Jamie Vardy - Rochester New York FC: The most famous face in the best of the rest is former England forward Jamie Vardy. Vardy, who recently left Leicester City, was co-owner of American soccer club Rochester New York FC. He invested into a minority stake in 2021, and sees his side competed in the third tier of American soccer - the MLS Next Pro. In March 2023, though, the side decided to curtail operations after an agreement with new investors fell through. Didier Drogba - Phoenix Rising: Didier Drogba co-owns Phoeix Rising in the second tier of the United States. He played for the club when the investment went through, before retiring in 2018. Cesc Fabregas and Thierry Henry - Como: Former Arsenal duo Cesc Fabregas and Thierry Henry are minority shareholders in Como in Italy. Fabregas also played for the club before retiring, and is now manager of the Serie A side.
