Sir David Beckham and wife Lady Beckham with son Brooklyn and his wife Nicola Peltz
The anointment of Sir David Beckham is a moment of establishment recognition three decades in the making. But as the former footballer was conferred his knighthood on Friday, reports of family drama threatened to overshadow the milestone.
Known for his precision on and off the pitch, Sir David has spent decades carefully curating his family’s public image.
This year is one of celebration for the former England captain – turning 50 at the helm of an estimated £500m empire.
But for the past few weeks, much of the online interest around the Beckhams has focused on reports that eldest son Brooklyn and his wife Nicola Peltz have fallen out with the rest of the family.
An expert in reputation management says reports of the feud have begun to affect the family’s public image, noting press coverage of the Beckhams has taken on a more soap-opera-like tone.
Celebrity crisis PR Lauren Beeching says recent media conversation has “started to feel more like something you’d see around a reality TV family”.
Getty Images
German Glamour magazine called Brooklyn and Nicola the “world’s most talked about couple” earlier in June
Reports of a family fallout began three years ago as stories emerged claimingthat Nicola had refused to wear one of Victoria Beckham’s designs on her wedding day.
Nicola later said she had wanted to, telling the Times Victoria had realised her atelier could not make it in time so she had had to pick a different designer. Nicola denied there was a feud in the family.
But scrutiny continued, with shows of unity (from warm social media posts to shared events) being framed as the Beckhams putting the feud behind them, or discouraging rumours of discord.
Eventually, speculation seemed to die down. But reports of a rift returned last month after Brooklyn, 26, and Nicola, 30, were absent from David Beckham’s 50th birthday celebrations and did not post a birthday message online.
A source told the BBC Brooklyn had chosen not to go to the party as his younger brother Romeo was attending with a woman Brooklyn had previously been linked to.
The source added that this woman’s invitation had been a “big source of further tension”.
Sir David and Lady Beckham have never acknowledged the rumoured rift, and havenot responded to the BBC’s requests for comment.
On Sunday, Sir David marked Father’s Day with multiple pictures of all his children on his Instagram story, including a separate throwback image of him and Brooklyn – captioning it “love you” alongside a white heart emoji.
Victoria also posted a Father’s Day tribute on Instagram which mentioned all four siblings.
Ms Beeching believes there is now a risk the feud stories could start to shape the family’s image “instead of the achievements they actually want to be known for”. “Once you start being spoken about like a reality TV family,” she continues, “that reputation starts to slip.”
Getty Images
Brooklyn (front, centre) as a young teen, pictured with his family at a 2012 performance of Spice Girls musical Viva Forever
As Manchester United’s golden boy, David Beckham quickly transcended football to become a global celebrity.
He and Spice Girl wife Victoria created Brand Beckham – fusing fame, fashion and football to redefine modern stardom.
“Their brand has always been about control of narrative, image, and legacy,” says PR expert Mark Borkowski. “The media didn’t chase them. They gave it a trail to follow – blending scandal with strategy and high-end deals.”
Beckham “made metrosexuality mainstream”, he adds. “He showed working-class lads you could wear nail polish, model for Armani, champion grooming rituals – and still bend a free kick past the keeper at crunch time. All while embodying a very traditional ideal: devoted husband, hands-on dad, family first.”
“I lived my career through the spotlight,” Sir David told BBC Radio 4’s Front Row in 2013. “You have to be a certain person, you have to create a certain person, and you have to be yourself.”
These parallel identities – carefully constructed yet authentic – gave Beckham his unique pull.
While the Beckham family have always been relatively private, Ms Beeching sees David’s 2023 Netflix documentary as a turning point in how the public perceived them.
“The Beckham brand has always been seen as aspirational, not accessible, but since the documentary, there’s been a notable increase in how much the family share on their social media accounts, which puts them closer to being reality stars,” she says.
Ms Beeching says recent news has pulled the family “away from legacy-building and into soap opera territory, which was never their lane”.
The constant rumours about the family’s dynamic have led some fans to take on a “Sherlock Holmes role” – so now, every absence in a photo becomes a hidden theory and every Instagram caption has a sub context.
Feud is ‘built to go viral’
Matt Navarra, a social media consultant, tells the BBC fans expect to see social signals of closeness such as mutual follows, birthday posts and supportive comments.
“When these signals are missing, people don’t assume neutrality, they assume tension.”
Fans and tabloids were quick to pick up on Brooklyn and Nicola’s German Glamour magazine shoot earlier this month as a signal that the rift was far from over – the couple avoided mentioning the Beckhams, but Nicola’s love for her own family was referenced several times.
Since then, every Beckham Instagram post and like (or lack thereof) has been agonised over, and even if discussion of the feud are eventually put to bed, it is unlikely that social media sleuthing will end.
Mr Navarra explains that even if facts are revealed and the rift rumours are quashed, “the social media algorithm doesn’t care about accuracy – it cares about engagement”.
This feud is the “perfect storm as it’s built to go viral”, and social media does not just fuel speculation, it manufactures and rewards it, he says.
Of course, family drama is also more relatable than a knighthood, and there has always been an insatiable appetite for famous families feuding in the spotlight.
Ms Beeching sees parallels between the Beckham family fallout and the rift between the Sussexes and the Royal Family, which continues to make headlines.
Getty Images
Since stepping back from senior royal duties in 2020, Meghan Markle and Prince Harry have seen their fractured relationship with the British monarchy go public
“The Royal Family lost control over the narrative as Harry and Meghan became more independent, and that’s the same here with Brooklyn and Nicola, who are both adults and are forming their own public personas,” she says.
Like Meghan, Nicola Peltz was already a known figure before marrying Brooklyn. The daughter of a billionaire businessman and model, “Nicola doesn’t need to rely on the Beckhams for money or fame”, says Wayne Barton, who wrote a biography about Beckham in 2020.
In a bid to not be perceived as nepo babies – children of celebrities who get fast-tracked to success – “Brooklyn and Nicola are in search of their own identities, which “may be putting them at odds with the careful public image that the Beckhams have created for the family”, he says.
Sir David’s polished image has, on occasion, been tarnished by scandal – in 2003, he faced accusations of an extra-marital affair with his former personal assistant Rebecca Loos.
Nicole Lampert, the Daily Mail’s showbiz editor at the time, says the Beckhams perfected “smiling through” issues – letting actions speak over words.
In 2004, the couple staged a photocall skiing together to demonstrate a united front – with Victoria giving what Lampert describes as a pained “rictus grin”.
Generally, however, the Beckhams have remained tight-lipped when it comes to scandals, such as criticism over David Beckham’s involvement with Qatar, and leaked emails in 2017 that included disparaging comments about singer Katherine Jenkins being awarded an honour over him.
Brand is ‘bruised not broken’
Having been in the spotlight for decades, the Beckham brand will survive the feud and it is currently “bruised but not broken”, according to Mr Navarra.
One way the Beckhams could limit the damage to their brand would be by “showing family unity with a picture on social media or at least acknowledging that all families have their ups and downs”, he suggests.
But trying to inauthentically manage the situation and making things look overly staged could backfire and the “narrative of a feud will become permanently baked in”.
Mr Navarra does not believe there are many real implications to the Beckham brand right now and the reports are not affecting their earning potential, brand collaborations or level of interest in them.
“If anything, it humanises the family a bit,” he explains, but he cautions there could be a greater impact on their reputation if the feud escalates or more damaging rumours come to light.
At this moment, the world is witnessing the mass killing and starvation of Palestinian civilians in Gaza. Western governments, especially in Europe and North America, continue to provide military, political, and economic support to the Israeli government responsible for this devastation. While some rhetoric has recently shifted — with growing condemnation of Israel’s conduct — material support, including arms shipments and intelligence sharing, persists.
To Jews around the world, this should be profoundly alarming. The phrase “never again” emerged from the ashes of the Holocaust, a moral declaration rooted in Jewish suffering. Today, that phrase risks losing its universal meaning. When governments tolerate ethnic cleansing, rationalize the killing of children, and remain silent in the face of state-sanctioned cruelty — all while claiming to uphold Jewish safety — it not only endangers Palestinians but also erodes the moral credibility of those invoking that principle.
Western support for Israel’s current leadership may be softening in tone, but not in substance. Despite growing public criticism, there are still no arms embargoes, financial sanctions, or diplomatic consequences imposed on Prime Minister Benjamin Netanyahu’s government. This inaction stems from unresolved historical guilt, political calculations, and fear of accusations of antisemitism. But verbal disapproval without accountability amounts to complicity.
If I were Jewish, I would be deeply disturbed. If this horror is justified once, what’s to stop it from happening again? And who might be the next victims?
Many of us believed the 21st century would be defined by shared humanity and the hard lessons of history. Yet Netanyahu and his extremist allies have taken the region in the opposite direction. Over two decades, he has tried to dismantle any realistic path to a two-state solution, empowered Hamas by weakening Palestinian moderates, and misled not only his own citizens but also the international community. These were not policy missteps. They were deliberate decisions to consolidate personal power at the expense of peace.
If Israelis are serious about defeating Hamas, they must also confront those who empowered it — Netanyahu chief among them. His divide-and-rule strategy fragmented Palestinians, allowing Israel to claim there was “no partner for peace.” That cynicism only deepened the crisis.
In 2016, I wrote about how Israel could contribute to Saudi Vision 2030. I envisioned a future of integration and cooperation. But such integration must be rooted in justice. A viable Palestinian state is not an obstacle to peace — it is its foundation.
Just days ago, Saudi Foreign Minister Prince Faisal bin Farhan met in Amman with his Jordanian, Egyptian, Bahraini, and Palestinian counterparts to coordinate efforts to end the war and revive a two-state solution. Israel refused to allow that meeting to take place in Ramallah — a decision that reflects the current Israeli government’s contempt for diplomacy. Netanyahu, Defense Minister Bezalel Smotrich and National Security Minister Itamar Ben Gvir have adopted a zero-sum strategy that endangers both regional stability and Israel’s own long-term security.
Saudi Arabia and its Arab partners remain firmly committed to a just and lasting peace. Today, 147 countries recognize the State of Palestine. Last year, Norway, Spain, and Ireland joined them. France and others may soon follow. These efforts seek to end the cycle of violence and build peace on two essential pillars: Palestinian statehood and Israeli security.
Netanyahu argues that a two-state solution would threaten Israel. The opposite is true. It is the only credible path to peace — precisely why it is opposed by both Netanyahu and Iran’s Ayatollah Khamenei. These two strange bedfellows are united in their desire to kill the two-state dream. In fact, one of Netanyahu’s major goals has been to rebrand the two-state solution as the “two-state delusion” — a slogan designed to undermine both hope and diplomacy.
Crown Prince Mohammed bin Salman has expressed a bold vision: “I don’t want to leave this world before seeing the Middle East transformed into a leading global region — into the new Europe.” That cannot happen without a just resolution to the Israeli-Palestinian conflict. If Saudi Arabia normalizes ties with Israel, more than 50 Muslim-majority countries could follow. The resulting trade, diplomacy, and development could be historic. But that vision must include dignity, statehood, and justice for Palestinians.
Jewish communities in the West should be disturbed if their governments support Netanyahu’s regime. Instead, let us unite two essential principles: “Never again” and “Not in my name.” Together, they reject genocide and collective punishment while affirming justice and humanity. The world is waking up. Consciences are stirring. It’s not too late to stand on the right side of history.
Salman Al-Ansari is an writer and researcher based in Saudi Arabia.
A 36-year-old Reddit user resonated deeply with fellow millennials after posting openly about their financial situation. They say they live paycheck to paycheck, have over $100,000 in debt, no savings and, perhaps most surprisingly, don’t feel panicked about it. “I should be freaking out, but I just don’t have the energy anymore,” they wrote.
They explained that the bulk of their debt came from a private university degree in archaeology and classics that cost $200,000. Although they’ve managed to pay a significant portion down, they still owe about $40,000. Add to that a $30,000 auto loan and a personal loan taken out to help cover bills when student loan payments were $1,000 a month pre-COVID. “I couldn’t afford to pay them and my other bills. So I got a personal loan.”
Don’t Miss:
“Maybe it’s the state of the world and not knowing what’s going to happen in the next few months, let alone years,” he wrote. “Or maybe I’ve just grown numb to my situation.”
The poster, who now works as a traveling contractor in a scientific field, said their current approach is simple: “I will either figure it out and make it work or I won’t. But I can’t bring myself to fret anymore.”
“A few years ago I would have freaked out and sent myself into a panic attack,” the person wrote. “And now it’s here and I honestly don’t care.”
In the replies, many reflected those feelings of burnout, resignation and financial paralysis. One commenter put it plainly: “I’m 39, just got laid off from my job of 13 years and I’m about to lose my apartment due to rent increase. I feel ya OP.”
Multiple people shared stories of six-figure debts, stagnant wages, medical emergencies, and housing instability. A recurring theme was the feeling that no matter how hard they work, they’re falling behind.
“It seems like every time we’ve finally ‘leveled up’ in jobs, raises, etc., there’s been a huge jump in costs along with it,” wrote one person. “We can never get our heads above the water.”
Another person shared that their household income fell from six figures to just $25,000 in two years. With over $100,000 in debt, they said they were forced to put their home up for sale.
Some shared that they’ve given up on the idea of retirement altogether. “I’ve resigned myself to working until I die,” one said.
Though the post received plenty of support, a few commenters pushed back. “I understand the exhaustion, but I don’t think this is normal,” one person replied. Another warned, “You should not be perfectly okay with your situation. It’s one thing to recognize and acknowledge your reality, but you need to use that clarity to inform your actions and decisions going forward.”
Even the poster admitted that while their mindset helps them cope, it’s probably not the healthiest: “People do have this exact thinking when it comes to their health. And it’s definitely not healthy. And it’s probably not healthy for me to think this way either. But I’ve done my freaking out for years and it’s never done any good.”
Still, the overwhelming tone in the thread was solidarity, not judgment, and many said the post made them feel less alone.
Read Next:
Image: Shutterstock
Up Next: Transform your trading with Benzinga Edge’s one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today’s competitive market.
“My most important & favourite job in life is being a dad,” David—who also shares Romeo Beckham, 22, Cruz Beckham, 20, andHarper Beckham, 13, with his wife of 25 years—wrote on Instagram June 15 alongside a series of throwback photos. “I’m so proud of all of you and like daddy (sorry boys) tells you every single day I will always be here for you no matter what.”
Along with expressing his unconditional love for his kids, the 50-year-old made sure to give Victoria her flowers for ushering him into fatherhood in the first place.
“Mummy thank you for doing the most important part and making me a father,” he continued. “There is no greater gift in life than making me a dad. Happy Father’s Day. I love you kiddies more than you could imagine.”
The first Switch was such a hit that Nintendo decided not to mess with a good thing. Instead of releasing a successor that feels like a generational leap or a pivot in a new direction, it’s following up the hugely successful original with the Switch 2 — a welcome upgrade that largely sticks to the formula. It looks about the same, works about the same, and plays most of the same games. It’s the Switch, just better.
Nintendo’s bet is that it doesn’t have to wow people all over again, and so it made a sequel that’s only as good as it needs to be. After spending a week with the new console, I’ve realized that good enough is exactly what the Switch needed.
A refined (and bigger) Nintendo Switch
Fundamentally, the concept of the Switch hasn’t changed. It’s still a tablet with a split controller stuck on either side, with a dock that connects to your television.
But the idea has been refined. The Switch 2 is much bigger, for one thing. It now has a 7.9-inch LCD panel, up from the original’s 6.2 inches, making it great for playing text-heavy games. It also means the entire device has become larger as a result, now weighing in at a comparatively hefty 1.18 pounds with the controllers attached. The larger size hasn’t bothered me, though your mileage may vary. My 12-year-old keeps stealing it to play Pokémon and hasn’t complained. But she’ll do anything for more screentime.
$449
The Good
Improved hardware and display
Faster load times
New social features
It plays Mario Kart
The Bad
Disappointing battery life
Few first-party Switch 2 games at launch
No standout feature
There are some other nice upgrades. Like the most recent OLED model of the original Switch, the Switch 2 has a kickstand that can prop the system up at a wide range of angles, and the updated version feels a little sturdier to me, making it great for playing in tabletop mode. It’s a huge improvement over the original Switch’s flimsy kickstand. The Switch 2 also adds a second USB-C port to the top of the console, which enables you to plug in a webcam for online play. It’s handy for attaching a charger or battery pack whichever way is most convenient, too.
What you get with that larger and heavier device is games that look and run better. The handheld’s screen has a 1920 x 1080 resolution, which supports HDR10 and VRR up to 120Hz. It’s bright and crisp, and games look a lot smoother thanks to the higher refresh rate. But I do miss the more vibrant OLED display of the most recent iteration of the original Switch, which featured deeper blacks and more contrast-y images. The new screen is a huge leap from the original, but it isn’t an all-around improvement if you’ve been using the OLED for a while.
The story is different when connected to your TV: the Switch 2 can finally output at 4K, with support for HDR10. You’ll need to play supported games to really take advantage of this, but it’s immediately noticeable how much crisper everything from text to gameplay is. HDR promises to make games more vibrant, though there doesn’t seem to be a standout game to show this off just yet.
Games are bigger this generation, too. Nintendo has increased the internal storage size to 256GB, but you’ll need to be diligent with how you use it; Cyberpunk 2077, for example, takes up 59GB on its own. Expanding that storage means buying a new and relatively expensive microSD Express card; your old microSD cards won’t work.
More annoying is that the battery life is worse than the original Switch. Nintendo estimates between two and six and a half hours of gameplay on a single charge, and I found my device dying around the lower end of that spectrum, especially when playing more intensive games like Cyberpunk. That’s not a great sign for the future if the Switch 2 continues to get more demanding games.
Some of this owes to the fact that this is simply a much more capable console. It’s built around a new Nvidia chip, custom designed for the Switch 2, and offering modern features like DLSS and ray tracing. There’s more RAM. The internal storage is faster. This is why the Switch 2 is able to run a game as demanding as Cyberpunk; it’s also why the Switch 2’s battery might die after a short two-hour stint.
The Switch 2 also has slightly redesigned Joy-Con controllers. They’re functionally mostly the same, but bigger and with a few small upgrades, like more subtle vibrations. They connect via magnets now, which are less fiddly than the previous rail design. Nintendo says that the joysticks have been redesigned, too, but they still aren’t using anti-drift Hall effect sensors. That means there’s a chance owners will once again be dealing with the dreaded Joy-Con drift that plagued the original Switch.
As similar as they are, the Joy-Con also introduces some of the truly new elements of the Switch 2.
To start, the right Joy-Con has an all-new button dedicated entirely to Nintendo’s GameChat social features. Chatting with friends while playing games isn’t a new concept, but Nintendo has finally made it not only a core but a relatively painless part of its user experience. You simply pull up the app, and you can see what friends are online and what they’re playing.
For the most part, it works as advertised. It’s easy to connect, voices come in clear through the Switch 2’s built-in mic, and video looks fine over the USB camera from Nintendo, which is sold separately. (The Switch 2 also supports an unclear number of third-party webcams.) This is a huge upgrade over Nintendo’s old way of doing things, where you needed to download a separate Nintendo Switch Online app onto your phone and use that secondary device to chat.
The one flaw I’ve noticed with the new system is that screensharing — in which, for instance, four people can share their gameplay in Mario Kart World while they race against each other — looks choppy and ugly, to the point that I stopped using it.
The redesigned Joy-Con controllers also introduce a new control option. By turning the Joy-Con on its side and placing it down on a flat surface, you’re able to use it like a mouse. Unfortunately, the Switch 2 doesn’t come with a next-gen version of Mario Paint to show all the mouse clicking possibilities, but I spent some time with the Switch 2 update of Civilization VII to test it out. And while it took some getting used to, I found the Switch 2’s mouse controls worked surprisingly well. This may not be as true in a twitchy first-person shooter where every millimeter matters, but for turn-based strategy, the mouse was a big improvement over a standard controller layout.
In a nice touch, using the mouse is seamless; you don’t choose the option from a menu, you simply turn the Joy-Con on its side, place it down, and it begins mouse mode. This makes it easy to swap between control options on the fly. You also don’t need to use the mouse on a completely flat surface like a table or desk. I was able to play Civ just fine moving the Joy-Con around on my thigh.
However, it wasn’t particularly comfortable to play that way for extended periods. So it’s hard to see it as something I’ll use often.
So yes, the Switch 2 is exactly what it sounds like hardware-wise: it takes a winning concept and improves on it in subtle ways, and mostly doesn’t mess with what already worked. None of the changes are a huge leap, nor are any of the issues dealbreakers.
A launch lineup that mixes old and new
Of course, the most important aspect of any system is its games. And the launch lineup for the Switch 2 is a combination of new titles that take advantage of the more powerful hardware and older games that have been updated and are noticeably better compared to the original Switch versions.
The best showcase for the console at launch is Mario Kart World. It expands upon its predecessor in ways that Nintendo says weren’t possible on the original Switch. The game takes place in a large, connected open world and doubles the number of racers from 12 to 24. It’s bigger, more ambitious, and more chaotic than any Mario Kart before it, and yet it also runs incredibly well on the Switch 2. It loads fast and the frame rate holds up, even when playing four-player split-screen, which introduces a frankly absurd number of explosions and crashes on your TV at any given moment.
That doesn’t mean there isn’t anything to play right now, though. There are just a few brand-new games. Many of the highlights of the Switch 2’s launch lineup are games that already exist on other platforms, but were likely too technically demanding for the original Switch. These include the likes of Cyberpunk 2077, Street Fighter 6, and Yakuza 0, all of which look good, run smoothly, and load quickly. The new handheld is not as powerful as other current-generation consoles, let alone a high-end PC, but it’s still pretty remarkable being able to take Night City with you wherever you go, and have it feel good to play, instead of just fine.
Two of my favorite launch games take advantage of one of the Switch 2’s best features. Called GameShare, it lets you play select multiplayer games with anyone else nearby with a Switch 2 or original Switch, and it requires only one copy of the game. It’s not perfect — the second player is essentially streaming the game, and so the visual quality can dip at times — but it is a very fun way to enjoy co-op games that require a lot of coordination. I used it to play through a chunk of Split Fiction with my wife, and a few hours of Survival Kids with my, uh, kids, and it was a great alternative to couch co-op. We simply sat near each other, barking orders on what needed to be done next.
While the core launch lineup may be lacking, there are a lot of games that have been updated in a significant way to support the Switch 2. Some of these are paid upgrades; I dropped $10 to be able to use those mouse controls in Civ, and it’ll cost you the same to get a much smoother and faster-loading version of Breath of the Wild or Tears of the Kingdom. These titles don’t look radically different, but they’re obviously sharper and running smoother; the faster loading times in Zelda may be worth the price of the upgrade alone.
Many of the free upgrades are just as impressive. I’ve been especially struck by games I’ve already played for hundreds of hours — Fortnite and No Man’s Sky — both of which struggled mightily on the original Switch. But on the Switch 2 they look like and play like, well, modern games.
Actually, my favorite launch games might be the oldest of all. One of the benefits for Nintendo Switch Online subscribers on the Switch 2 is the addition of GameCube games. To start, there are only three titles, but they’re excellent ones: The Legend of Zelda: The Wind Waker, Soulcalibur II (with Link as a playable fighter!), and F-Zero GX. It’s not exactly impressive that a sci-fi racer from 2003 plays fast and smooth on a modern console, but it’s still a nice bonus. And the GameCube has plenty of heavy hitters that will surely round out the service in the coming months. (Mario Kart: Double Dash, please.)
A new generation that feels much like the last
In 2017, there was nothing like the Nintendo Switch. At a time when dedicated handheld gaming devices had seemingly given way to smartphones, and the PS4 and Xbox One era was in full swing, here came Nintendo with an underpowered tablet that doubled as a home console in a way that was simple and intuitive. It proved to be such a success that it revitalized the company into a growing entertainment powerhouse.
But eight years later, there’s a lot like the Nintendo Switch 2. The original spearheaded a resurgence in portable gaming thanks to the likes of Valve, Sony, and Xbox, and even upstarts like Panic and Analogue. The Switch 2 not only has to compete with its predecessor, but also a maturing market of modern handhelds.
The Switch 2 doesn’t feel like the kind of generational leap typically associated with a new platform. When you put all of its features together — the larger display, more powerful internals, better social and sharing features, and more flexible control options — you are left with a device that is markedly better than its predecessor, but is still a step behind the latest PC handhelds in terms of pure horsepower and available games.
But even with real competition this time around, Nintendo is still operating largely in its own sphere. And it turns out good enough is more than good enough when you also have the biggest Mario Kart to date.
Any discussion of Chelsea has to bear in mind the strategy the club began implementing in January 2023. That’s when, after some of the early excesses of the Todd Boehly/Clearlake Era (think Raheem Sterling, Pierre-Emerick Aubameyang and Kalidou Koulibaly), they began aggressively pursuing highly rated youngsters and locking them into very long contracts with relatively modest salaries.
The club’s new owners felt it was OK to pay high transfer fees because these could be amortized over long contracts; if players didn’t work out, their young age and manageable wages would ensure they’d be easier to shift elsewhere. And, of course, if they did work out and players lived up to their potential, then they were acquiring superstars on the cheap.
For the purposes of this discussion, we’ve tried to stick to this strategy on the basis that for it to work, you can’t tear up the script after just a few years — you have to commit to it.
Last season, for much of the year, Maresca often fielded entirely different starting XIs in the Conference League and in the Premier League. This meant that his core group of players could focus on domestic football and, indeed, no fewer than 11 Chelsea players featured in 31 or more league games. He won’t have that luxury next season, because the demands of the Champions League are far greater, and that means adding depth to the side.
Off the pitch, there’s a good chance Chelsea will be found to have breached UEFA’s Financial Sustainability rules, but we (and the club) expect that this will result in nothing more than a fine. However, it should be noted that Chelsea recorded a staggering £213 million operating loss last year, the third straight season they were over £200 million in operating losses, and their overall results were only bailed out by “exceptional items” — the sale of hotels and, later, the women’s team (to BlueCo, the holding company that owns the club) and player trading.
The club’s academy produces a steady pipeline of talent, and their youth-oriented approach — they were the third-youngest team in Europe’s Big Five domestic leagues last season — means there are plenty of assets that can be used to generate cash. Still, it’s a tricky game to play, and it can boomerang back to hurt you if not done right.
We should also note that BlueCo also own Strasbourg, who did very well in Ligue 1 last season, narrowly missing out on Champions League football. It’s a convenient place to loan players and, possibly, acquire them, though UEFA will be keeping a close eye on transfer valuations since they are a related party.
So what decisions do they still need to make as they head into the 2025 FIFA Club World Cup, which kicked off on Saturday night in Miami?
Editor’s note: This is the sixth installment in this year’s series, Keep or Dump, which will continue over the coming weeks, detailing which players to keep, extend and move on from for all the top clubs in the Premier League and Europe. Find the article on Arsenal right here, Manchester United can be found here, our Liverpool version is here, and Manchester City is here. The Barcelona edition is here.
Keep/dump ground rules
Remember: This is our assessment of what we think the club should do, player for player, with the squad at its disposal. It’s not what we think the club will actually do, though sometimes the two will align. That said, we take into account what we know of the club, coaching staff and player preferences, as well as its financial situation and any other factor that we think will impact personnel moves.
Where we disagree, or where we think our rationale is worth explaining, we’ve noted below.
Marcotti: There has been plenty of buzz about AC Milan‘s “Magic” Mike Maignan, whose signing would be a departure from the Chelsea model and a concession to Maresca. If he comes in, then you shift Sánchez because you’ll get something before him. If not, I’d bring back Djordje Petrovic, who did well on loan at Strasbourg, and let him compete with Sanchez for the No. 1 spot.
Ogden: Sánchez won’t accept being a backup largely due to his age, experience and an outside chance of making Spain‘s World Cup squad next year. Sign a better keeper than the ones you have, and move him on.
Verdict: Split between keep and move on
Filip Jorgensen (23, 2031)
Ogden: Keep him as a No. 2 or 3.
Marcotti: Last year he played a handful of games when Sánchez was benched, and in the entire Conference League campaign. I don’t think you’ll be rotating keepers though if you’re in the Champions League, so he’ll struggle for playing time if they get Maignan or another top keeper.
I’m fine with him as a number two if a Maignan type comes — otherwise, loan him out. The thing about keepers is that it’s a game of Tetris: Everything needs to fit together.
Marcotti: If he’d been happy to stay — his last appearance was in 2023 — he could have been on the Scott Carson plan and be the veteran third keeper. As it turns out, he has replaced Carson at City to become their new third keeper.
Djordje Petrovic (24, 2030, spent 2024-25 season on loan at Strasbourg)
Marcotti: He wasn’t great a year ago, but he had a very good season in Ligue 1. If you bring him back, you have to let him compete for the starting job, and that won’t happen if they sign a top keeper. If they don’t and he’s up against Sánchez? Sure, bring him back.
Ogden: I disagree. Bring him back regardless, as he’d be a good back-up for Maignan.
Verdict: Split between loan and keep
Mike Penders (19, 2032, spent 2024-25 season on loan at Genk)
Marcotti: They signed him in 2024 and left him at Genk, where he became the starter halfway through the year. He’s not ready, so logically you send him on loan.
Ogden: He was Chelsea’s best keeper last year… playing for Bournemouth. You can get a decent fee for him, and while Arsenal have been enquiring, the Spaniard remains at Stamford Bridge for now.
Marcotti: I guess if you use Caoimhin Kelleher (who left Liverpool for Brentford) as a baseline, you can get something in the £10 million range, which would help Chelsea’s books.
Verdict: Move him on
Gaga Slonina (20, 2028, spent 2024-25 season on loan at Barnsley)
Marcotti: He was on loan at Barnsley in League 1, then hurt his finger and returned for his rehab. Assuming he’s fit again, you loan him out somewhere he can play.
Verdict: Loan him out
Defenders
Levi Colwill (22 years old, contract expires in 2029)
Verdict: Keep
play
2:23
Marcotti & Ogden disagree over Chalobah’s Chelsea future
Gab Marcotti and Mark Ogden assess Chelsea’s center back options.
Marcotti: They sent him on loan to Crystal Palace, where he did well. They brought him back, and he continued to do well. Yes, he would get you a good transfer fee, but frankly I think you need him in the mix given the doubts over Wesley Fofana‘s fitness.
Ogden: Move him on, I think. He’s pure profit from a financial perspective as an academy graduate, and they can command a good transfer fee. It’s a financial decision rather than a football one, but as we know, Chelsea balance their books by regularly offloading homegrown players.
Verdict: Split between keep and move him on
Wesley Fofana (24, 2029)
Marcotti: He was signed before their new model kicked in and is on good wages, which means they’re stuck. He has been so unlucky with injuries — between Leicester City and Chelsea, he made just 35 league starts in the past four seasons — so all you can do is hope he gets fit and stays fit. But you need a Plan B, hence why I’d keep Chalobah.
Marcotti: I think you need four central defenders, not counting Fofana. So that’s Colwill, Tosin Adarabioyo, Chalobah and either Badiashile or Axel Disasi. Between the two, I’m keeping Badiashile. Then if Fofana is fit and I don’t need him, he can go on loan.
Marcotti: They spent £15.6 million to bring him in from Boca Juniors in January, but he didn’t play a single minute. He had a hamstring issue at first, and then I guess they thought he wasn’t ready. He’s an obvious one to loan.
Ogden: He has come back from the brink at Chelsea, so credit to him for that, but you need an upgrade or decent cover for him. He’s too prone to errors to be a Champions League first-choice.
Marcotti: He’s a good player, though I’m not sure to what degree he’s what Maresca wants. After all, we’ve seen him play Moisés Caicedo at fullback ahead of him at times and, of course, you imagine that when club captain Reece James is fit, which isn’t often admittedly, he’s behind him. For now, his best bet is improving as a left back too, and maybe he can back up both roles.
Verdict: Keep
Reece James (25, 2028)
Marcotti: Just 31 league starts in the past three years tell their own story.
Ogden: The risk is he becomes Chelsea’s Luke Shaw given his injuries, but you can’t shift him because he’s on good wages. So just hope he stays fit.
Marcotti: I think he’s very good, but you already have two right backs. Loan him out and get him minutes. Let him grow.
Verdict: Loan him out
Axel Disasi (26, 2029, spent part of 2024-25 season on loan at Aston Villa)
Marcotti: They got a big loan fee from Aston Villa, though he wasn’t great there. His unrealized amortization is around £20 million, and I think you can get that back. Or, if you get the sort of loan fee you got from Villa, loan him out again and it pays for itself.
Marcotti: He was OK at Juve, but nothing more, which is why they made no effort keep him. There is some confusion about him wanting to play center back, which prompted Maresca to say “I’d like to have long hair, you don’t always get what you want.” Veiga potentially has a role at Chelsea as a utility player right now, but if he wants to play more, loan him out again not least because, again, they got a hefty £4 million loan fee for six months at Juve.
Verdict: Loan him out
Ben Chilwell (28, 2027, spent part of 2024-25 season on loan at Crystal Palace)
Ogden: He went to Palace and started just one league game. He has no future at Chelsea, and given his wages, nobody can afford to sign him. Try to find him a home on loan.
Verdict: Loan him out
Caleb Wiley (20, 2030, spent the 2024-25 season loan at Strasbourg, then joined Watford on loan)
Marcotti: They paid Atlanta United FC $10 million to get him, so you’re not going to give up on him. It didn’t quite work out at Strasbourg on loan, but then, after recovering injury, he was a starter at Watford. Loan him out again, unless you’re desperate for a back-up left back.
Verdict: Loan him out
Alfie Gilchrist (20, 2026, spent 2024-25 season on loan at Sheffield United)
Marcotti: He’s a high-energy player, and he showed on loan at Sheffield United that he can be a reliable starter for a team fighting to get promoted to the Premier League. All that said, he’s an undersized center back who has to play right back, and Chelsea are well-stocked in that role. I assume they can get a bit of a fee back, maybe from Sheffield United themselves.
Verdict: Move him on
Bashir Humphreys (21, 2027, spent 2024-25 season on loan at Burnley)
Marcotti: After making 28 starts for Burnley on loan last season as they secured promotion, he has completed a permanent move. It’s another example of how Chelsea keep the player trading money rolling in.
Verdict: Already transferred to Burnley for an undisclosed fee
Midfielders
Moises Caicedo (23 years old, contract expires in 2031)
Ogden: Not sure what he does, to be honest, because I only ever see him pass the ball sideways. But there is constant noise of him being wanted elsewhere. I don’t think he’d be missed, but of course, given the fee they paid for him and the length of his contract, that’s not going to happen.
Marcotti: He’s Maresca’s guy, having worked together at Leicester City, and he played a lot in the Conference League last year. They need him for depth in 2025-26.
Ogden: It depends what his ambitions are. Does he want to be at a big club as a fringe player who rarely plays, or move to play every week? Without Conference League football, when will he play?
Ogden: You absolutely keep him because he’s their star player. But Chelsea have to make progress to keep him happy because every top club in Europe would love to take him. Oh, and keep an eye on his relationship with Maresca. Palmer’s postmatch comments after the Conference League final about “sideways and backwards passing” were a clear shot at Maresca’s tactics.
Verdict: Keep
play
1:09
Has Cole Palmer trapped himself with Chelsea contract until 2033?
Mark Ogden fears Cole Palmer could outgrow Chelsea in the near future.
Andrey Santos (21, 2030, spent 2024-25 season on loan at Strasbourg)
Ogden: He did well at Strasbourg, even scoring 10 league goals. You need depth in central midfield, and he’s ready to provide it.
Ogden: You have to loan him out again. You can’t transfer him for a fee because you won’t get enough back, so he’ll go out again on loan. Southampton were really poor, so it’s almost hard to judge him.
Marcotti: Dortmund reportedly have an option to buy at €35 million. That doesn’t mean too much since they can negotiate down. He only started two games, but that doesn’t mean they won’t keep him. I’m not sure there’s a pathway for him at Chelsea, so I think you move him on. Any fee over £10 million and you’re making a profit.
Verdict: Move him on
Forwards
Jadon Sancho (25 years old, was on loan from Manchester United with permanent option, contract expires in 2026 with club option for additional year)
Ogden: Chelsea wanted to keep him, but they couldn’t agree on personal terms and so they sent him back to United, paying a £5 million penalty. That was a foolish move on Sancho’s part, but not the first of his career.
Marcotti: Last played for Chelsea in November and then got hit with a ban following a positive PED test. You can’t really do anything until that gets resolved.
Verdict: Keep
Tyrique George (19, 2027 with club option for additional year)
Marcotti: He did really well when Maresca gave him a chance late in the season. I think you keep him and make him part of the winger rotation.
Marcotti: I’m not bowled over by him, but he works really hard and covers both wings.
Ogden: I like Neto. He didn’t have a great year, but his stoppage-time goal against Fulham transformed Chelsea’s season, and he delivered when it mattered. He’s a quality player.
Verdict: Keep
Noni Madueke (23, 2030 with club option for additional year)
Marcotti: I wasn’t a fan at first, but he has developed nicely. With Liam Delap coming in, they may share the center forward position or he might play wide, which he did earlier in his career. He’s not going to be overused like he was last season when there was nobody else Maresca trusted up front.
Ogden: I agree. He’s not the most technically gifted player, but he makes things happen and scores goals. A valuable member of the squad.
Ogden: His relationship with the club isn’t good, he has four years left on his contract, and he has never fit. Move him if you can, but this has “last week of August loan move” written all over it.
Marcotti: Yeah, he won’t be easy to shift on a permanent deal. His wages are significant, he’s had his injuries and you’d need to get at least £35 million for him to cover his amortization. It’s very tough to see how they could do that.
Verdict: Move him on, if you can
Marc Guiu (19, 2029 with club option for additional year)
Ogden: I like him. There’s something there, but he needs to play more. Ipswich want him on loan to replace Delap, and that strikes me as a perfect next step for him.
Marcotti: I haven’t been impressed, though, to be fair, he’s had injuries. His development is a slow burn: Maybe he can stay as a third center forward, and then see what he can contribute. You can always loan him in January.
Verdict: Split between loan and keep
David Datro Fofana (22, 2029, spent part of 2024-25 season on loan at Goztepe)
Ogden: He went to Turkey on loan, but got injured and came back to rehab at Chelsea. I think you have to send him on loan again.
Marcotti: Chelsea didn’t pay much for him, so I guess they can carry him until he gets fit and then loan him out.
Verdict: Loan him out
play
1:43
Ogden slams Chelsea’s ‘ridiculous’ João Félix contract
Mark Ogden and Gab Marcotti discuss the future of João Félix at Chelsea.
João Félix (25, 2031, spent part of 2024-25 season on loan at AC Milan)
Marcotti: He’s there because of the Conor Gallagher deal — moving the other direction in order to facilitate the England midfielder’s move to LaLiga — and, possibly, because they somehow believed Maresca could solve the João Félix conundrum. I’m not sure anyone can — Sérgio Conceição at Milan certainly could not. At this point, you make Uncle Jorge [Mendes] fix this somehow, since he’s the reason (as Félix’s agent) you’re stuck with him.
Ogden: Chelsea gave him a seven-year contract. SEVEN YEARS! This is a case of reap what you sow.
Marcotti: I really like him and he may yet develop, but he has had horrendous injuries and hasn’t actually scored a goal since January 2024. Everton have an option to sign him at £30 million: I doubt they’ll exercise it, though they may try to negotiate down, and maybe you can do a deal. If not, send him off on loan again.
Verdict: Loan him out
Raheem Sterling (29, 2027, spent 2024-25 season on loan at Arsenal)
Ogden: He is owed £30 million in wages over the next two seasons, so you can’t just pay him off and cancel his contract. However, after the season he had at Arsenal, you’re going to struggle even to loan him out, much less move him on permanently. To be honest, I think he’s done as a top-level player. He’s been around since he was 17, and it shows.
Verdict: Move him on, if you can
Deivid Washington (19, 2030, spent part of 2024-25 season on loan at Santos)
Marcotti: The loan lasts until Dec. 31, so just leave him there and hope he develops. He’s obviously a slow burn.
Verdict: Evaluate when loan ends on Dec. 31, loaning him out again if necessary
Estevao Willian (18, 2032)
Marcotti: Chelsea signed him when he was 17 for a monster fee that could rise as high as $60 million, but they could only bring him over once he turned 18 in April. He already has four caps for Brazil, he’s an exciting winger, though he won’t join Chelsea for the Club World Cup; instead, he’ll get a swansong with Palmeiras before moving.
With someone that young, you’d be tempted to loan him out once he does arrive this summer, but if João Félix and Sterling go — and you hope they do — maybe it makes sense to keep him as a fourth winger if they don’t sign one. Yet they might be smart waiting to make a decision until after they see his performances at the Club World Cup.
Marcotti: A bit like Estêvão, Chelsea signed him when he was 16 for $20 million in fees from Independiente del Valle in Ecuador, but he can join this summer only upon turning 18. Let Maresca take a long, hard look at him this summer, but I imagine the logical thing is to loan him.
I think Estêvão is ahead of him short-term in terms of sticking around, mainly because he played against better competition in Brazil and because it’s easier for a winger to get playing time than an attacking midfielder. So perhaps you loan him to Strasbourg or somewhere he can play and you can keep an eye on him.
Verdict: Loan him out
Assessment
play
1:55
Will Liam Delap be able to step up his game at Chelsea?
The “ESPN FC” crew debate whether Chelsea are taking too much of a risk by signing Liam Delap to be their long-term solution at striker.
If you’ve read this far, you know Chelsea are dealing with a lot of players, which may be why they have not one, but two sporting directors. As we mentioned, they have their own model based on youngsters, long contracts and snatching up talent, regardless of whether there’s a pathway or need at the club. It would be imprudent to move away from it at this time, but equally, if they are to compete in the Premier League and Champions League next season, there are specific needs to be addressed.
One of those is in goal. We both agree that if you have a chance at getting a clear upgrade at a reasonable price — like Maignan from Milan — you pull the trigger. Where Mark and Gab differ is how big the upgrade should be to make it worthwhile. Mark thinks anyone better than the army of keepers they currently have makes sense. Meanwhile Gab is wary about the wage structure and reckons it’s worth it if it’s a Maignan-level guy; if not, bring back Petrovic from Strasbourg and let him compete with Sánchez.
The other evident need is up front, where Jackson was the only first-team option last season. That has been addressed with the signing of Delap, one of the more exciting young center forwards around.
Getting Delap for his £30 million release clause was a coup. He can split time with Jackson, allow you to shift Jackson wide on occasion, or even just sit and take his time to adjust to a new club. Gab thinks they should hang on to Guiu, because he thinks you need three center forwards if you’re in the Champions League.
Chelsea need depth in central midfield, and we think they’ll have that if they bring back Andrey Santos. The addition of Dário Essugo — who comes in from Sporting but spent last season on loan at Las Palmas — gives them another option. Seven central midfielders for three slots might actually be too many, so maybe one of Essugo or Santos gets loaned out.
The Blues look a little short in the winger department beyond Neto and Madueke, which is why Gab wants to hang on to George. João Félix and Sterling don’t appear to have a future here, and it’s unclear when Mudryk will be available again. (It’s also a case of what condition he’ll be in, not having played since November 2024.)
Estêvão is very young and could be an option, but we think it’s more likely they may make a signing, perhaps after transferring some players out and raising some funds. Remember though that they’ve signed Geovany Quenda from Sporting CP for a deal that could be worth up to £44 million. He’ll arrive next summer.
At the back, Gab thinks Chelsea are pretty much sorted. Mark wouldn’t mind an alternative to Cucurella at left back, while Gab reckons Colwill could fill that role, with someone else coming in at center back if necessary.
Like last year, just as critical as who comes in is who Chelsea manage to shift. It’s not just high earners like Sterling, João Félix and Chilwell, it’s also youngsters whose transfers turn into huge profit. And it’s figuring out which guys to send on loan and where (no, they can’t all go to Strasbourg). We have as many as twenty players who we think should move, whether on loan or on a permanent deal. Getting it right there is just as critical as bringing in the right players.
Watch as Sweden’s Armand Duplantis sets a new world record of 6.28m in the men’s pole vault at the Diamond League in front of his home crowd in Stockholm.
Four candidates are vying for two vice chair spots on the Democratic National Committee (DNC) after a majority of members voted earlier this week to redo the election of David Hogg and Pennsylvania state Rep. Malcolm Kenyatta.
Oklahoma DNC committee member Kalyn Free, who lost a bid for vice chair, filed a challenge in February over the way the election was conducted, alleging it unfairly advantaged the male candidates running.
DNC members voted 294-99 this week to redo its elections following Free’s challenge; Hogg decided to forgo a run for his spot amid swirling controversy over his decision to get involved in Democratic primaries.
The DNC is holding two separate votes for vice chair positions: one for a male ballot spot and another ballot in which any gender candidate can run. Kenyatta won the spot on the male ballot on Saturday.
Three candidates are vying for a spot on the all-gender ballot this week.
Here’s what to know about the four candidates running for DNC vice chair:
Pennsylvania state Rep. Malcolm Kenyatta
Kenyatta was elected as one of the DNC’s vice chairs in February and is running for a second time following Free’s challenge. He successfully won reelection on the male ballot spot on Saturday.
Kenyatta was initially supposed to compete against Hogg under the male ballot slot, but Hogg withdrew.
The Pennsylvania lawmaker was first elected to the Pennsylvania state House in 2018 and represents part of Philadelphia County. He ran in the Pennsylvania Senate Democratic primary in 2022, losing to Sen. John Fetterman (D-Pa.); more recently, he ran against Pennsylvania Auditor General Tim DeFoor (R), losing to him by single digits.
Kenyatta’s website touts his barrier-breaking record, including being the first openly LGBTQ candidate of color to be voted into the Pennsylvania Legislature.
Kenyatta told The Hill he’s traveled to nine states and Germany since being elected vice chair following the initial February election. He noted the DNC has been investing in local races like the Omaha, Neb., mayoral race and building out Democratic infrastructure in states across the country, including red states.
“No candidate when they get into the general election should have to build anything from scratch as it relates to their organizing, their voter outreach, and even some of the media infrastructure,” Kenyatta said.
Washington state party Chair Shasti Conrad
Shasti Conrad is running again to be a DNC vice chair after she lost a bid for one of the spots during the February election.
Conrad was named a DNC associate chair by national committee Chair Ken Martin in March, and she also currently heads the Washington State Democratic Party. Her bio touts that she’s worked with three Nobel Peace Prize winners; she’s also a campaign alum of former President Obama and and Sen. Bernie Sanders (I-Vt.).
Of particular importance to Conrad is focusing on Democratic caucuses and councils.
“I would really love to see, you know, more engagement, more connectivity with our caucuses and our councils, both at the national level” and among the state parties, she told The Hill.
She noted that not all state parties have an Asian American and Pacific Islander caucus, adding she’d support seeing them “officially organized and regularly meeting and doing the outreach work that we really need to do, you know, with our communities that don’t always feel that they can trust the party.”
Oklahoma DNC member Kalyn Free
Free is getting another shot at a DNC vice chair slot after successfully challenging the way the national party conducted its vice chair election in February.
Free is a member of the Choctaw Nation and serves as a DNC committee member in Oklahoma. She’s previously held elected office as a district attorney for the Haskell and Pittsburg counties in the late 1990s.
She previously ran for Oklahoma’s 2nd Congressional District but was unsuccessful.
Free noted a lack of Indigenous representation within DNC leadership, telling The Hill that “Indian country is critically important, obviously, to me, but it should be important to DNC leadership,” noting lawmakers and politicians have acknowledged that they wouldn’t have won their races without the support of Indigenous voters.
She also said she’s worked on more than 300 campaigns and raised tens of millions of dollars. She said her commitment to the cause was evident in her husband’s wedding vows, which she said she wrote.
“My husband vowed to never give aid, comfort, solace, or financial support to any Republican ever running for office. That’s how serious I take my Democratic values and how serious I am about building this party.”
Kansas state party Chair Jeanna Repass
Jeanna Repass also unsuccessfully sought a vice chair spot the first time around. She currently helms the Kansas Democratic Party and is a former secretary of state candidate in 2022. Repass is both the first Black and Latina woman to lead the Kansas state party, according to the Kansas Democratic Party.
During her first run for vice chair, she noted her familiarity with engaging with voters in red states.
“My experience as the chair of the Kansas Democratic Party gives me a unique perspective for how our national party can not only make inroads with voters in red states but also win in these tough elections,” Repass said, according to The Community Voice.
Prior to leading the state party, Repass worked in sales and marketing for several radio stations and was a director of urban mission outreach at the United Methodist Church of the Resurrection, according to The Topeka Capital-Journal.
In an interview with State Affairs in March, she also noted a particular focus on rural communities in the state.
(Reuters) -Critical Metals Corp has received a letter of interest from the U.S. Export-Import Bank (EXIM) for a loan worth up to $120 million to fund the company’s Tanbreez rare earths mine in Greenland, in what would be the Trump administration’s first overseas investment in a mining project.
The loan, if approved, would boost U.S. access to minerals increasingly at the center of global economic trade and help offset the country’s reliance on market leader China. It also comes after President Donald Trump openly mused earlier this year about acquiring the Danish island territory, an overture that has been repeatedly rejected.
In a letter dated June 12 and reviewed by Reuters, New York-based Critical Metals has met initial requirements to apply for the $120 million EXIM loan and, if approved, would have a 15-year repayment term, longer than the company likely would have with private financing.
The project would have to be “well-capitalized with sufficient equity from strategic investors” to receive the loan, the letter said.
EXIM, which acts as the U.S. government’s export credit agency, said in the letter that Critical Metals qualifies for a loan program designed to support companies that compete with China.
The Tanbreez project is expected to cost $290 million and the EXIM funds would be used to fund technical work and get the mine to initial production by 2026. Once fully operational, the mine is expected to produce 85,000 metric tons per year of a rare earths concentrate and two minor metals.
“This funding package is expected to unlock significant value for our project and our stakeholders,” said Tony Sage, the company’s CEO.
Representatives for EXIM were not immediately available to comment.
The move is the latest in a series of supportive actions by Washington toward the Tanbreez deposit and Greenland’s mining sector. Reuters reported in January that former President Joe Biden’s administration had successfully lobbied privately held Tanbreez Mining not to sell to a Chinese developer and instead sell to Critical Metals.
Biden officials were visiting Nuuk as recently as last November trying to woo additional private investment in the island. Trump sent Vice President JD Vance to the island in March.
The island’s mining sector has developed slowly in recent years, hindered by limited investor interest, bureaucratic challenges and environmental concerns. Currently, only two small mines are in operation.
Rare earths have strong magnetic properties that make them critical to high-tech industries ranging from electric vehicles to missile systems. Their necessity has given rise to intense competition as Western countries try to lessen their dependence on China’s near-total control of their extraction and processing.
Beijing in April put export restrictions on rare earths as part of its trade spat with Trump. The two countries earlier this month reached a truce, although Beijing’s control of the sector has exacerbated the West’s over-reliance and sparked a global hunt for fresh supplies.
Despite the loan potential, Critical Metals would still have to either build a processing facility or find an existing site with spare capacity. The company told Reuters that its goal is to process the material inside the U.S., a goal the EXIM loan would make more achievable.
Last year, Critical Metals had applied for funding to develop a processing facility from the U.S. Department of Defense, but the review process stalled ahead of Trump’s January inauguration.
For the EXIM loan’s additional funding requirements, Critical Metals said it is considering offtake agreements, royalty streams and funding from other U.S. governmental agencies.
Critical Metals told Reuters earlier this year that it has held supply talks with defense contractor Lockheed Martin, among others.
Critical Metals’ 10th-largest investor is brokerage firm Cantor Fitzgerald, which was formerly led by Howard Lutnick before he joined Trump’s cabinet as secretary of the U.S. Commerce Department. Sage told Reuters in January he had never met or talked to Lutnick, but acknowledged Cantor’s investment was a positive for his company.
EXIM last year extended a letter of interest to Perpetua Resources for a loan worth up to $1.8 billion for its antimony and gold mine in Idaho.
(Reporting by Ernest Scheyder; editing by Veronica Brown and Chizu Nomiyama )
For some families, like Scarlett Johansson and Colin Jost, work can overshadow the holiday. However, the actress—who shares son Cosmo, 3, with the Saturday Night Live star and daughter Rose, 10, with ex Romain Dauriac—still has some ideas in mind. As she teased to E! News last month, “I have to think of some Father’s Day plans!”
“I think we’re going to be on the Jurassic World tour for Father’s Day, so I don’t know,” she admitted. “I’ll have to scare up some kind of, what do you get somebody for that? A dinosaur egg?”
Getty Images
Getty Images
Getty Images
Getty Images
