Loan request – Tedxyouth Caltech http://tedxyouthcaltech.com/ Fri, 26 Aug 2022 17:10:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://tedxyouthcaltech.com/wp-content/uploads/2021/10/icon-5-120x120.png Loan request – Tedxyouth Caltech http://tedxyouthcaltech.com/ 32 32 Director receives 11-year ban for fake COVID loan application https://tedxyouthcaltech.com/director-receives-11-year-ban-for-fake-covid-loan-application/ Thu, 18 Aug 2022 12:35:54 +0000 https://tedxyouthcaltech.com/director-receives-11-year-ban-for-fake-covid-loan-application/ A Yorkshire-based manager whose companies provided services to construction projects has been disqualified for 11 years, after trying to defraud the Bounce Back Loan Scheme. Stephen Burke, 63, of Rotherham, overstated his businesses’ turnover to secure £200,000 in taxpayer-funded loans he was not eligible for during the pandemic, the Insolvency Service has heard. Burke was […]]]>

A Yorkshire-based manager whose companies provided services to construction projects has been disqualified for 11 years, after trying to defraud the Bounce Back Loan Scheme.

Stephen Burke, 63, of Rotherham, overstated his businesses’ turnover to secure £200,000 in taxpayer-funded loans he was not eligible for during the pandemic, the Insolvency Service has heard.

Burke was a director of four companies which provided services to construction projects, including Yorkshire Plant Hire and Sales Ltd, Yorkshire Site Preparation Ltd, Woodhouse Civil Engineering Ltd and Richmond Brokers Ltd.

One of the four companies, Yorkshire Site Preparation Ltd, was listed as inactive on Companies House records in January 2020. Of the other three, company accounts ending January 2020 showed turnover ranging from just 635 £ to £3,400.

However, Burke, who was the sole director of each company in 2020, claimed in his application for Bounce Back Loans that each company’s turnover was between £200,000 and £320,000, enabling him to obtain four separate loans for the full £50,000 allowed under the scheme.

He spent £174,000 to repay a personal loan to his former partner which breached the terms of the loans which could only be used for legitimate business expenses.

In February 2021, Burke sought to break up the four companies, but the breakup was blocked when outstanding loans were identified. Instead, the companies were placed in liquidation. The liquidators have now started remedial action.

The Secretary of State for Business, Energy and Industrial Strategy has accepted a disqualification pledge, which will see Burke banned for 11 years from direct or indirect involvement in promoting, forming or managing a company without the permission of the court.

Building News understands that Burke may also face a separate criminal prosecution as a result of his actions.

The Insolvency Service’s chief investigator, Rob Clarke, described Burke’s abuse of the scheme as “heinous”.

‘Coronavirus support schemes have been introduced to help UK businesses through the toughest times, providing them with the financial support needed to protect jobs and return to prosperity,’ he said.

“Stephen Burke not only sought to defraud the Bounce Back Loan Scheme for personal gain, but then sought to cover his tracks by breaking up the companies he had used.

“This heinous conduct rightly resulted in a long ban, stripping him of the ability to trade, with the benefit of limited liability until 2033,” Clarke added.

In June, two Devon-based administrators were disqualified for 11 years after applying for £100,000 in loans during the pandemic despite their company, Ace Building and Maintenance Services, being insolvent and unable to pay its debts.

The rebound loan scheme was introduced by the government in 2020, after the economy was hit during the pandemic. It was intended to help small businesses borrow between £2,000 and £50,000 at a low interest rate to help them out over the period.

Lenders have identified around 18,000 loans under the scheme as “suspected fraud”, according to government figures. In total, just over 1.5m loans have been issued during the pandemic, with an aggregate value of £47bn.

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IMF says ready to support Bangladesh after loan request https://tedxyouthcaltech.com/imf-says-ready-to-support-bangladesh-after-loan-request/ Wed, 27 Jul 2022 16:23:00 +0000 https://tedxyouthcaltech.com/imf-says-ready-to-support-bangladesh-after-loan-request/ Garment workers walk out of a factory during lunch break as factories remain open despite a nationwide lockdown, in Dhaka, Bangladesh July 6, 2021. REUTERS/Mohammad Ponir Hossain Join now for FREE unlimited access to Reuters.com Register DHAKA, July 27 (Reuters) – The International Monetary Fund (IMF) said on Wednesday it would discuss with Bangladesh its […]]]>

Garment workers walk out of a factory during lunch break as factories remain open despite a nationwide lockdown, in Dhaka, Bangladesh July 6, 2021. REUTERS/Mohammad Ponir Hossain

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DHAKA, July 27 (Reuters) – The International Monetary Fund (IMF) said on Wednesday it would discuss with Bangladesh its loan request after the country became the third South Asian country to seek such support after Pakistan and Sri Lanka.

Bangladesh’s economy, worth $416 billion, has been one of the fastest growing in the world for years, but rising energy and food prices due to the Russian-Ukrainian war inflated its import bill and current account deficit.

The IMF said Bangladesh was interested in its new Resilience and Sustainability Facility aimed at helping countries cope with the challenges of climate change and had also requested negotiations for an “accompanying IMF programme”.

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“The IMF stands ready to support Bangladesh, and staff will engage with the authorities on the design of the program in accordance with established Fund policies and procedures,” an IMF spokesperson said. “The amount of support will be part of program design discussions.”

Earlier in the day, Bangladesh’s finance minister told reporters that the government would only accept an IMF loan if the terms were favorable and said the country’s macroeconomic conditions were good.

“If the IMF conditions are favorable to the country and compatible with our development policy, we will participate, if not not,” said Minister AHM Mustafa Kamal. “Asking for an IMF loan does not mean Bangladesh’s economy is in bad shape.”

The IMF’s Resilience and Sustainability Trust caps funds at 150% of a country’s quota or, in the case of Bangladesh, a maximum of $1 billion. Read more

Bangladesh’s Daily Star newspaper reported on Tuesday that overall the country wants $4.5 billion from the IMF, including for fiscal and balance-of-payments support. Read more

The country’s economic mainstay is its export-oriented garment industry, which is bracing for a downturn as key customers like Walmart grapple with a backlog as inflation forces people to prioritize clothing. essential. Read more

After clothes, remittances are the second largest source of foreign currency for Bangladesh, a country of nearly 170 million people.

Its foreign exchange reserves fell to $39.67 billion as of July 20 – enough for just over five months of imports – from $45.5 billion a year earlier.

Its July-May current account deficit was $17.2 billion, down from a deficit of $2.78 billion in the year-ago period, as its trade deficit widened and remittances have declined.

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Additional reporting and writing by Krishna N. Das; Editing by Kim Coghill and David Holmes

Our standards: The Thomson Reuters Trust Principles.

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IMF says ready to support Bangladesh after loan request https://tedxyouthcaltech.com/imf-says-ready-to-support-bangladesh-after-loan-request-2/ Wed, 27 Jul 2022 07:00:00 +0000 https://tedxyouthcaltech.com/imf-says-ready-to-support-bangladesh-after-loan-request-2/ DHAKA (Reuters) – The International Monetary Fund (IMF) said on Wednesday it would discuss with Bangladesh its loan request after the country became the third South Asian country to seek such support after Pakistan and Sri Lanka. Bangladesh’s economy, worth $416 billion, has been one of the fastest growing in the world for years, but […]]]>

DHAKA (Reuters) – The International Monetary Fund (IMF) said on Wednesday it would discuss with Bangladesh its loan request after the country became the third South Asian country to seek such support after Pakistan and Sri Lanka.

Bangladesh’s economy, worth $416 billion, has been one of the fastest growing in the world for years, but rising energy and food prices due to the Russian-Ukrainian war inflated its import bill and current account deficit.

The IMF said Bangladesh was interested in its new Resilience and Sustainability Facility aimed at helping countries cope with the challenges of climate change and had also requested negotiations for an “accompanying IMF programme”.

“The IMF stands ready to support Bangladesh, and staff will engage with the authorities on the design of the program in accordance with the Fund’s established policies and procedures,” an IMF spokesperson said. “The amount of support will be part of program design discussions.”

Earlier in the day, Bangladesh’s finance minister told reporters that the government would only accept an IMF loan if the terms were favorable and said the country’s macroeconomic conditions were good.

“If the IMF conditions are favorable to the country and compatible with our development policy, we will participate, if not not,” said Minister AHM Mustafa Kamal. “Asking for an IMF loan does not mean Bangladesh’s economy is in bad shape.”

The IMF’s Resilience and Sustainability Trust caps funds at 150% of a country’s quota or, in the case of Bangladesh, a maximum of $1 billion.

Bangladesh’s Daily Star newspaper reported on Tuesday that overall the country wants $4.5 billion from the IMF, including for fiscal and balance-of-payments support.

The country’s economic mainstay is its export-oriented garment industry, which is bracing for a downturn as key customers like Walmart grapple with a backlog as inflation forces people to prioritize clothing. essential.

After clothes, remittances are the second largest source of foreign currency for Bangladesh, a country of nearly 170 million people.

Its foreign exchange reserves fell to $39.67 billion as of July 20 – enough for just over five months of imports – from $45.5 billion a year earlier.

Its July-May current account deficit was $17.2 billion, down from a deficit of $2.78 billion in the year-ago period, as its trade deficit widened and remittances have declined.

(Additional reporting and writing by Krishna N. Das; Editing by Kim Coghill and David Holmes)

Copyright 2022 Thomson Reuters.

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Anambra Assembly Approves Soludo’s N100 Billion Loan Request https://tedxyouthcaltech.com/anambra-assembly-approves-soludos-n100-billion-loan-request/ Sun, 24 Jul 2022 15:54:08 +0000 https://tedxyouthcaltech.com/anambra-assembly-approves-soludos-n100-billion-loan-request/ Charles Chukwuma Soludo July 24 (THEWILL) – The Anambra House of Assembly has approved Governor Charles Soludo’s request to access loan facilities worth N100 billion from the Central Bank of Nigeria (CBN) for the infrastructure development. The approval follows consideration and adoption of the report of the House Committee on Public Accounts during Thursday’s plenary […]]]>
Charles Chukwuma Soludo
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July 24 (THEWILL) – The Anambra House of Assembly has approved Governor Charles Soludo’s request to access loan facilities worth N100 billion from the Central Bank of Nigeria (CBN) for the infrastructure development.

The approval follows consideration and adoption of the report of the House Committee on Public Accounts during Thursday’s plenary in Awka.

On July 5, Soludo had written to the Assembly seeking approval of a multi-term loan facility with an aggregate limit of N100 billion from the CBN for the construction and rehabilitation of key infrastructure in the state.

Presenting the report, Somto Udeze, representing Ogbaru ll constituency and chairman of the committee, said the finance and economic planning and budget commissioners were invited to interact on the terms of the loan facilities.

Mr. Udeze said the discussion was aimed at determining loan terms, monthly deductions, loan term, interest rate, project specifications and the current government debt profile.

He stated that the Committee was satisfied with the responses provided by the Commissioners.

“We observed that the N100 billion loan was strictly for the construction of roads, bridges and flyovers across the state.

“It has also been observed that the current government debt profile at around N107 billion can still accommodate more of these loans given the expected outcome and impact on the residents of the state.

“However, we recommended that the commissioners provide the list of proposed project descriptions and the expected cost of each project to facilitate the monitoring function afterwards; and it was done

“That the loan be secured at a single digit interest rate and be used only for feasible infrastructure development.

“We also recommend the need to increase internally generated revenue to minimize borrowing to fund infrastructure development in the state,” he said.

Meanwhile, some lawmakers have lamented that not all of the state’s 30 precincts were considered in the proposed infrastructure upgrade.

House Speaker Uche Okafor commended the committee for its thorough review of the loan request and took a voice vote to pass the report.

The House granted the governor’s request in a unanimous resolution.

Also in plenary, the House passed a bill to establish the criminal justice administration system in Anambra and settle related matters.

The Bill, titled the Administration of Criminal Justice Bill 2022, Repeal and Reinstatement, received third reading and then passed in plenary.

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Kogi assembly approves Yahaya Bello’s N3b loan request https://tedxyouthcaltech.com/kogi-assembly-approves-yahaya-bellos-n3b-loan-request/ Thu, 21 Jul 2022 10:55:09 +0000 https://tedxyouthcaltech.com/kogi-assembly-approves-yahaya-bellos-n3b-loan-request/ The Kogi State Assembly has approved Governor Yahaya Bello’s request to borrow the sum of N3 billion to fund the Nigeria Covid Nineteen Action Recovery And Economic Stimulus (NG-CARES) projects in the state. The approval follows consideration of the letter sent to the Assembly by Governor Bello asking the House to approve […]]]>


The Kogi State Assembly has approved Governor Yahaya Bello’s request to borrow the sum of N3 billion to fund the Nigeria Covid Nineteen Action Recovery And Economic Stimulus (NG-CARES) projects in the state.

The approval follows consideration of the letter sent to the Assembly by Governor Bello asking the House to approve said amount for funding of World Bank-assisted projects through NG-CARES.

The Speaker of the House, while reading Mr. Governor’s letter, noted that the facility would be drawn from Zenith Bank and repayment would be made on a monthly basis from the State’s allocation on Frontline fees.

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Anambra Assembly Approves Governor Soludo’s N100 Billion Loan Request https://tedxyouthcaltech.com/anambra-assembly-approves-governor-soludos-n100-billion-loan-request/ Thu, 21 Jul 2022 07:00:00 +0000 https://tedxyouthcaltech.com/anambra-assembly-approves-governor-soludos-n100-billion-loan-request/ Soludo had, on 5 July, written to the Assembly, seeking approval to obtain a multi-term loan facility with an aggregate limit of N100 billion from CBN, for the construction and rehabilitation of key infrastructure in the ‘State. Presentation of the report, Mr. Somto Udezerepresenting Ogbaru ll constituency and chairman of the committee, said the finance […]]]>

Soludo had, on 5 July, written to the Assembly, seeking approval to obtain a multi-term loan facility with an aggregate limit of N100 billion from CBN, for the construction and rehabilitation of key infrastructure in the ‘State.

Presentation of the report, Mr. Somto Udezerepresenting Ogbaru ll constituency and chairman of the committee, said the finance and economic planning and budget commissioners were invited to interact on the terms of the loan facilities.

Udeze said the discussion was to determine loan terms, monthly deductions, loan term, interest rate, project specifications and the current government debt profile.

He said that the Committee was satisfied with the responses provided by the Commissioners.

“We observed that the N100 billion loan was strictly for the construction of roads, bridges and flyovers across the state.

“It has also been observed that the current government debt profile of around N107 billion can still accommodate more of these loans given the expected outcomes and impact on the residents of the state.

“However, we recommended that the commissioners provide the list of proposed project descriptions and the expected cost of each project to facilitate the monitoring function afterwards; and it was done

“That the loan be secured at a single digit interest rate and be used only for feasible infrastructure development.

“We also recommend the need for increased internally generated revenue to minimize borrowing to fund infrastructure development in the state,” he said.

Meanwhile, some lawmakers have lamented that not all of the state’s 30 precincts were considered in the proposed infrastructure upgrade.

The President of the Chamber, Mr. Uche Okafor commended the committee for their careful review of the loan request and took a voice vote to adopt the report.

The House granted the governor’s request in a unanimous resolution.

Also in plenary, the House passed a bill to establish the criminal justice administration system in Anambra and settle related matters.

The bill, titled the Administration of Criminal Justice Bill 2022, Repeal and Reinstatement, was read for the third time and then passed in plenary.

The President, ordered the Deputy Clerk, Ms Esther Anetoh send a clean copy of the bill to the state governor for approval.

The House then adjourned until July 26.

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Igbo youths justify Soludo’s N100bn loan request https://tedxyouthcaltech.com/igbo-youths-justify-soludos-n100bn-loan-request/ Wed, 20 Jul 2022 10:47:24 +0000 https://tedxyouthcaltech.com/igbo-youths-justify-soludos-n100bn-loan-request/ Ogun State Governor Dapo Abiodun has sounded the alarm over the proliferation of fake traditional rulers in the state.Abiodun alleged that the illegal traditional rulers procured false letters of appointment and paraded themselves as monarchs without following established procedures as stipulated by the laws governing the institution Obaship in the state.The Governor made this known […]]]>

Ogun State Governor Dapo Abiodun has sounded the alarm over the proliferation of fake traditional rulers in the state.
Abiodun alleged that the illegal traditional rulers procured false letters of appointment and paraded themselves as monarchs without following established procedures as stipulated by the laws governing the institution Obaship in the state.
The Governor made this known on Wednesday during the third quarter statutory meeting of the Ogun State Council of Obas, held at the Obas compound, Oke-Mosan, Abeokuta.
Governor Abiodun said those involved in such illegal acts do not mean well for the state and traditional institutions.
The governor, who was represented by the state government secretary, Tokunbo Talabi, said, “These individuals would not just confuse the state, but would ridicule traditional institutions.”
He said the current administration would no longer tolerate such unscrupulous activities.
He noted that the traditional institution remains a real platform to root good governance, therefore, any administration that wants sustainable development, must collaborate with it.
Abiodun said his administration has continued to revere traditional rulers as strategic partners in its commitment to an inclusive, just, just, equitable, transparent, accountable society that obeys the rule of law.
“We will not sit back and allow a few unscrupulous elements under our watch to tarnish the image of our state, smear our traditional institutions and ridicule it,” he said.
In his welcoming remarks, the Permanent Secretary of the Ministry of Local Government and Chiefdom Affairs, Mr. Kolawole Fagbohun, said the ministry was working diligently to ensure the welfare of the monarchs and vacant seats were being filled.
Chairman of Obas Council in the State and Akarigbo of Remoland, Oba Babatunde Ajayi in his address thanked the governor for the 50% increase for the four traditional councils.

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Group justifies Soludo’s N100bn loan request https://tedxyouthcaltech.com/group-justifies-soludos-n100bn-loan-request/ Tue, 19 Jul 2022 06:13:42 +0000 https://tedxyouthcaltech.com/group-justifies-soludos-n100bn-loan-request/ The Igbo Youths for Positive Change said there was nothing wrong with the N100 billion loan request that Anambra State Governor, Prof. Chukwuma Soludo is applying for. The group said there was a lot of work to be done at Anambra and Soludo was determined to get it done. It’s just as the group also […]]]>

The Igbo Youths for Positive Change said there was nothing wrong with the N100 billion loan request that Anambra State Governor, Prof. Chukwuma Soludo is applying for.

The group said there was a lot of work to be done at Anambra and Soludo was determined to get it done.

It’s just as the group also praised the state House of Assembly for smoothly passing the revised 2022 budget, which it says shows lawmakers support the governor’s mission to transform the state into a livable and prosperous homeland. .

The punch reports that the Governor had written to the State House of Assembly to approve a N100 billion loan for him.

The loan facility, according to the governor’s letter, would be for the construction and renovation of key infrastructure in the state.

Speaking to reporters in Awka on Monday, the National Chairman, IYPC, Mr. Chinedu Obigwe said the loan request, if secured, would be used for the public good.

Obigwe added that the governor is not reckless in resource management.

He also congratulated the state lawmakers on passing the revised 2022 budget presented to them by Soludo, pointing out that the passage of the budget showed that light will always triumph over darkness.

He underlined that the President of the Assembly had demonstrated outstanding leadership qualities, abilities and skills in the performance of his duties.

He said: ‘Critics were shamed because they did not expect the revised budget to pass easily by members of the House of Assembly.

“As for the request of N100bn Ioan, we will say that there is nothing wrong with that. Soludo is not someone reckless in the management of resources and it is obvious that he has the desire ardent to transform Anambra into a livable and prosperous homeland.

“There is a lot of work to be done in Anambra and the Governor is determined to get it done. There’s nothing wrong with the governor’s loan request because if it’s secured, he’ll use the money for the public good.

“The N100 billion loan request is not for consumption but rather money that will be deployed in the development of our state. We have no doubt that the members of the House of Assembly will grant the Governor’s loan request because they know that the loan request is for the public good.

“Ndi Anambra, the solution to all our problems is here with us. Let’s continue to support Soludo for the actualization of its mission to transform our beloved state into a livable and prosperous homeland.

“We thank the House Appropriations Committee for their role in ensuring passage of the revised budget.”

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Everton-Tottenham link continues with new man loan request https://tedxyouthcaltech.com/everton-tottenham-link-continues-with-new-man-loan-request/ Sat, 09 Jul 2022 16:25:00 +0000 https://tedxyouthcaltech.com/everton-tottenham-link-continues-with-new-man-loan-request/ Everton had made a request to loan Tottenham defender Japhet Tanganga this summer, according to Gianluigi Longari. The 23-year-old defender is in high demand with competition from the Premier League and Serie A, and the Italian option is apparently an intriguing prospect for him. Following the sale of Richarlison to North London, there have been […]]]>

Everton had made a request to loan Tottenham defender Japhet Tanganga this summer, according to Gianluigi Longari.

The 23-year-old defender is in high demand with competition from the Premier League and Serie A, and the Italian option is apparently an intriguing prospect for him.

Following the sale of Richarlison to North London, there have been repeated links over other players, with Frank Lampard believed to be interested in Harry Winks and Steven Bergwijn ahead of the latter’s move to Ajax.

Spurs are still believed to want young star Anthony Gordon to go the other way as well, and now Tanganga’s latest name has been added.

Sport Italia journalist Longari reported on Twitter who AC Milan and Napoli are following closely while Southampton have also made an approach for a loan deal.

The Toffees are looking for another defender following the departure of Jonjoe Kenny, who turned down a new contract to move to Hertha Berlin.

Connections

The young Englishman is on the periphery of the capital side but has made 43 senior appearances since joining the first team three seasons ago.

It would be a surprise if the rest of the summer window goes by with no further business between Everton and Spurs.

This seems like a solid choice for Lampard, but with such a passionate pursuit for the player, it may not be where the club are willing to put the best deal on the table.

Nathan Patterson has been strongly tipped to be a key player in the new season by former Blue Pat Nevin, so the starting position on the right side should be locked.

And with club captain Seamus Coleman still there, it’s not like there was a glaring hole, but the manager appreciated Kenny’s versatility and Tanganga is capable of playing full-back and centre-back.

James Tarkowski is the main finish in the middle, but if Yerry Mina were to continue, there would be need for more help there.

Everton target Armando Broja not on Chelsea pre-season flight

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Juventus newcomer receives loan request https://tedxyouthcaltech.com/juventus-newcomer-receives-loan-request/ Fri, 01 Jul 2022 16:00:20 +0000 https://tedxyouthcaltech.com/juventus-newcomer-receives-loan-request/ Andrea Cambiaso hasn’t officially finalized his move to Juventus yet but he is already preparing loan proposals. The full-back will pass the medicals and put pen to paper early next week. The Bianconeri beat Inter and Atalanta in the race to acquire it from Genoa. According to Gianluca Di Marzio, the 22-year-old will join for […]]]>

Andrea Cambiaso hasn’t officially finalized his move to Juventus yet but he is already preparing loan proposals. The full-back will pass the medicals and put pen to paper early next week. The Bianconeri beat Inter and Atalanta in the race to acquire it from Genoa.

According to Gianluca Di Marzio, the 22-year-old will join for €5.5m plus Radu Dragusin. The Old Lady plans to assess him during the pre-season. They will decide to send him to another team for a season later. Salernitana asked for it.

The package for Cambiaso was agreed by Juventus and Genoa a few days ago. However, the deal slowed down because the Romanian centre-back had reservations about joining a Serie B side, The Gazzetta dello Sport informed. Giorgio Chiellini helped convince him. The icon told him on the phone that his talent would transpire anywhere.

The Bianconeri plot for the newcomer to alternate with Alex Sandro in 2022/2023. Luca Pellegrini is in the sights of two Premier League clubs. Fees must be greater than 10 million euros to register a profit.

Our view on Juventus and Cambiaso

The grifone The starlet may not have the insane advantage of Destiny Udogie, but he was a revelation in his first season in Serie A. Many of the Old Lady’s youngsters who went on loan were lost in the reshuffle, but it would make sense in this case. Alex Sandro will leave next summer at the end of the expiring contract, and Pellegrini is decent enough to make the roster. Its sale is unlikely to bring so much money. The club would have to look for another option in a year’s time if they go down this route.

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