Ian Wright sends message to Arsenal board over Mikel Arteta following Raul Sanllehi’s departure Advertisement Comment Advertisement Mikel Arteta has made a positive start to his Arsenal tenure (Picture: Getty)The former Arsenal captain has made an encouraging start to his tenure and Wright hopes the decision to axe Sanllehi won’t have any negative repercussions for the former Gunners skipper, tweeting: ‘Protect Mikel at all costs!’Sanllehi’s duties meanwhile, are set to be assumed by managing director Vinai Venkatesham, while the majority of football decisions will be handled by Edu who has only just overseen a major overhaul of the club’s scouting department.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal‘I am thankful to Stan, Josh and the rest of the Arsenal Board for their trust in me. I will miss working closely with my colleague and friend Raul, but I am looking forward to this new challenge,’ said Venkatesham.‘There is much work to do to return Arsenal to the top of the game where we belong, which is what our fans rightly demand. While this will not happen overnight, I believe we have many of the critical ingredients to do so. There are many positives to build on across the club.‘While football faces uncertainties ahead as a result of the Covid-19 pandemic, I am confident Arsenal will emerge strongly and look forward with confidence.’MORE: Lille president Gerard Lopez confirms Arsenal and Manchester United target Gabriel Magalhaes’ imminent departureMORE: Arsenal confirm head of football Raul Sanllehi has left the clubFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. Metro Sport ReporterSaturday 15 Aug 2020 1:30 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link434Shares Raul Sanllehi oversaw Mikel Arteta’s appointment as Unai Emery’s replacement as Arsenal head coach (Picture: Getty)Ian Wright has urged Arsenal’s new-look leadership team to ‘protect’ Mikel Arteta at all costs following the sudden departure of Raul Sanllehi. Arsenal confirmed the club’s head of football was set to vacate his position on Saturday, just 24 hours after reports emerged that an internal review was set to take place into recent transfer activity. Sanllehi played a fundamental role in the deal which brought Nicolas Pepe to the Emirates last summer in a £72million deal but, according to ESPN, several high ranking figures fear Arsenal wildly overpaid. The former Barcelona chief’s record at Arsenal was a mixed bag overall. He was the driving force in the decision to replace Arsene Wenger with Unai Emery and even considered handing his compatriot a new deal before a calamitous Europa League final defeat against Chelsea. AdvertisementAdvertisementADVERTISEMENTSanllehi corrected his error by helping convince Mikel Arteta to leave Manchester City and begin to repair the damage.
The funding levels of the two largest pension schemes in the Netherlands fell below 90% in August, further increasing the likelihood of early cuts to pension payments and accrued benefits.The €431bn civil service scheme ABP saw its coverage ratio fall to 88.6% by the end of last month, while the funding level of the €217bn healthcare pension fund PFZW dipped to 89.8%.The decline meant that funding of both schemes dropped further below the “critical coverage ratio” – set at 95% for ABP and 94% for PFZW – below which they cannot recover to full funding within a 10-year period.As a consequence, they must reduce pensions to improve their coverage ratios to the critical level through a single cut implemented next year. ABP’s head office in Heerlen, NetherlandsContribution increase wiped out by interest rate fallMeanwhile, Jos Brocken, employee chairman of PMT, said a recent decision by the social partners to raise the contribution level by 5.8% to almost 28% had almost been undone by collapsing interest rates.Last week, employers and unions decided to make the 5.8% part of the premium for early retirement (VPL) available to improve PMT’s funding level. The contribution will not be required to fund early retirements as of 2021.However, the additional contribution would become available no sooner than 2021.As the social partners also insisted on keeping the annual accrual at the maximum tax-facilitated level of 1.875%, this would mean that PMT’s funding was likely to deteriorate further.Brocken said that the pension fund wanted to agree on a new contribution rate for a three-year period, and that the question was whether the increased premium would be sufficient for 2021 and 2022.The chairman added that a cost-covering contribution would have to be approximately 35%. “In my opinion, this is impossible,” he said. Based on the situation at August-end, this means that ABP and PFZW will have to apply unconditional discounts of 6.7% and 4.5%, respectively, in 2020.PMT (€77bn) and PME (€50bn) were already facing pension cuts next year, as at the end of 2019 their coverage ratios had been short of the required minimum of 104.3% for five consecutive years.At August-end, PMT’s coverage ratio was 92.6% and PME’s was 91.5%. This was still short of the new minimum required level of 100%, set by the cabinet in June as part of the pensions agreement.The metal sector schemes, however, are allowed to spread their cuts – 7.4% for PMT and 8.5% for PME, based on the current figures – over a 10-year period.Dutch pension funds’ coverage ratios over 12 months (%)Chart MakerABP and PFZW, which both fell into underfunded positions one year later than the metal schemes, must restore any remaining funding gap between the “critical coverage ratio” and the minimum required level of 100% in 2021.However, while the schemes must take action immediately to address the gap to the critical level, further reductions in pension payments to reach 100% funding can be spread over 10 years.ABP said that pension cuts in 2020 were becoming “increasingly probable” due to worsening market conditions. It singled out falling interest rates as the main cause for cuts, as interest rates had a much bigger impact on its coverage ratio than achieved returns. read more
Despite leading the Wisconsin men’s basketball team to a 13-6 record, a top four finish in the Big Ten for the 15th consecutive season and a likely trip to the NCAA tournament for the 18th consecutive season under an interim basis, newly announced head coach Greg Gard still had to apply for the job.While Athletic Director Barry Alvarez likely had already made up his mind upon posting the job listing a couple weeks ago, he was still required by state law to open the job to the public.Stand Gard: Badgers have found their leaderGreg Gard has been named head coach of University of Wisconsin men’s basketball team. No more interim label, no more audition Read…Needless to say, Gard’s resume had a step up above the competition. Here is a copy of the application the Badgers’ newest head coach submitted, obtained by The Badger Herald through an open records request: Men’s basketball: Emotions run high as Gard is introduced as Wisconsin head coachAt the press conference Tuesday to officially announce his new position as Wisconsin men’s basketball head coach, Greg Gard took the Read…Who else applied?The two most notable applicants beside Gard were former University of Southern California coach Henry Bibby and 17-year NBA veteran Lindsey Hunter.Bibby, who is also the father of 14-year NBA veteran Mike Bibby, coached USC from 1996-2005. Before that, he spent nine years in the NBA on four different teams and finished his coaching career as an NBA assistant from 2006-14.And while Bibby might have been the most qualified applicant aside from Gard, he didn’t exactly submit a traditional cover letter. Rather, he just made a bulleted list of his credentials.Hunter, despite a similar background, submitted a more traditional application. The former NBA player was the 10th overall pick in the 1993 NBA draft before playing 17 years in the league. He then went on to be an assistant coach for the Phoenix Suns in 2012-13 — he even served as their interim head coach at the end of that season — and Golden State Warriors in 2013-14.There was, however, one thing that stood out from Hunter’s resume:He notes in his time as interim head coach he led the Suns to a “5th place finish in Pacific Division.” In other words, with just five teams in each NBA division, he “led” them to a last place finish.With the head coach position on lock, Gard will lead the Badgers against Nebraska or Rutgers in their first game of the Big Ten tournament Thursday. read more