Madrid set to make formal offer for Palacios – agent

first_imgReal Madrid are set to make a formal offer for River Plate star Exequiel Palacios “in the coming days”, according to agent Renato Corsi.Palacios helped River to Copa Libertadores glory in December and the talented 20-year-old midfielder has been linked with Madrid and La Liga rivals Barcelona.River president Rodolfo D’Onofrio last month said Madrid were planning further negotiations to sign Palacios, who made his Argentina debut in September. Article continues below Editors’ Picks ‘There is no creativity’ – Can Solskjaer get Man Utd scoring freely again? ‘Everyone legged it on to the pitch!’ – How Foden went from Man City superfan to future superstar Emery out of jail – for now – as brilliant Pepe papers over Arsenal’s cracks What is Manchester United’s ownership situation and how would Kevin Glazer’s sale of shares affect the club? And Corsi revealed a transfer to send Palacios to the Santiago Bernabeu is at an advanced stage.”The leaders of River got together with Real Madrid in Abu Dhabi,” Corsi told La Oral Deportiva de Radio Rivadavia.”In the coming days there will be a formal offer and the operation is quite advanced.”The family, Exequiel and I want him to go in June and Real Madrid don’t have a problem with him staying at River until then.”Corsi added: “Real Madrid want him and supposedly River will sell. They agree, so between Monday and Tuesday the formal proposal will be presented.”last_img read more

Crescent Point adjusts executive pay cuts spending as proxy battle nears end

CALGARY — Crescent Point Energy is adjusting its executive pay criteria, cutting $25 million from 2018 capital spending and announcing an asset sale to pay down debt as it faces a showdown with a dissident shareholder at its annual meeting on Friday.It reported a surprise net loss of $91 million or 17 cents per share for the three months ended March 31, compared with a net profit of $119 million in the year-earlier period. Analysts had expected a profit of seven cents according to Thomson Reuters.The company has been roundly criticized by Cation Capital Inc., which attributes its poor share performance to unwise spending decisions and overly-generous executive compensation.The dissident shareholder has nominated four directors to be elected to Crescent Point’s 10-director board on Friday, a move opposed by the Calgary-based company.On a conference call to discuss first-quarter results on Thursday, Crescent Point executives said they would not comment on which side is leading so far in shareholder voting.Cation spokesman Dan Gagnier says the vote is “too close to call” and added a media report from an unnamed source suggesting the dissident slate has already been defeated shouldn’t be believed.Crescent Point says its board of directors has added a drilling rate-of-return metric to its pay-for-performance plan to “incorporate feedback and further align compensation with returns and capital allocation.”It added it has a deal to sell $225 million in non-core assets to an unnamed buyer that is expected to close before June 30, and that its spending this year will fall to $1.775 billion.Crescent Point’s operating earnings were $63 million versus $62 million in the first quarter of 2017.It reported production of 178,400 barrels of oil equivalent per day, up from 173,300 boe/d in the same period of last year. read more