EC offers pension funds further two-year clearing exemption

first_imgThe European Commission has proposed a further two-year exemption, starting from August 2015, for pension funds having to clear their derivatives trades through central counterparty clearing houses (CCPs).In a report, the European executive said CCPs had failed to develop any infrastructure allowing pension funds to overcome the hurdles posed by clearing and that more time was required to devise solutions for the industry.It added that, ultimately, the objective was for pension scheme arrangements (PSAs) to use central clearing for their derivatives transactions, as was the case for other financial institutions – a matter, it argued, imperative for financial stability.However, the report accepted that the Gilt and Bund markets were unable to deal with demand, and that daily requirements would exceed the daily capacity of the UK Gilt repo market. Under current arrangements, PSAs – which encompass all categories of pension funds – would have to source cash for central clearing.Given that PSAs hold neither significant amounts of cash nor highly liquid assets, imposing such a requirement on them would require very far-reaching and costly changes to their business models, which could ultimately affect pensioners’ income, the document stated.It estimated that shifting to a system of posting cash collateral – one of the alternatives in the absence of using high-grade bonds – would reduce retirement income by 3.66% across member states, with the UK seeing a reduction of 3.1% and the Netherlands a loss of 3.2% over 40 years.Jonathan Hill, the financial services commissioner, said: “Today’s report sets out a number of potential ways to facilitate central clearing for pension funds. But none of them is straightforward, and it is sensible to take more time to develop a solution that is proportionate.”The European Market Infrastructure Regulation (EMIR), which entered into force on 16 August 2012, was designed to improve the stability of the over-the-counter (OTC) derivatives markets throughout the EU.The Regulation allowed for a three-year exemption for pension funds, until August 2015, with a further three-year exemption possible.Pension funds told IPE last year they were of the view the Commission would continue to offer an exemption for the industry.Last year, Hill also indicated that he would seek to propose a resolution mechanism for CCPs, which he saw as falling in the same ‘too big to fail’ category as banks.Read more about the delays in confirming a further pension fund exemption from clearinglast_img read more

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Whiskey business: Irish SWF backs ‘fastest growing spirits sector’

first_imgIreland’s €8bn sovereign wealth fund has invested in a specialist fund lending to domestic whiskey distilleries and related businesses.The Ireland Strategic Investment Fund (ISIF) backed the €10m launch of Ilen River Partners’ Irish Whiskey Growth Fund earlier this month, aiming to tap into the “fastest growing spirits sector in the world”.“Whiskey businesses need to lay down stock early in their development in order to scale,” the fund said. “However, given the long-term nature of the whiskey sales cycle, the businesses require financing solutions suited to a long time horizon to achieve scale.”The whiskey fund will provide loans to businesses secured against existing stock. Ilen River Partners said it would not seek to appoint its own directors to businesses or take control away from existing owners. Ilen River – founded earlier this year by Fearghal Ó Ríordáin, a former partner at private equity firm Scottish Equity Partners – has appointed three whiskey experts to provide “strategic commercial advice and access to industry knowledge and expertise”.Ó Ríordáin said: “Whiskey distilleries are playing an ever more vital role within the Irish economy. There were just two whiskey distilleries on the island in the early 1980s. There are now 18 distilleries in operation, with more distilleries in the pipeline, all contributing to Irish tourism, agriculture, trade and exports.”Irish whiskey exports were forecast to exceed €850m a year by 2020, he added, compared with €400m in 2015.One of the ISIF’s core aims is to boost domestic investment and support job creation in Ireland.In the past 12 months it has backed two US technology firms expanding into the country: Vectra and Nautilus Data Technologies.In March the ISIF partnered with the China Investment Corporation to create a $150m technology fund.last_img read more

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Man City Keep Pressure on Liverpool with Saints Visit

first_img City’s win in midweek was their fourth in a row following the international break – a run that suggests that the club are close to hitting top form as they continue glory on four fronts.The Citizens are the Premier League’s top scorers this season with 32 goals from their opening 10 games, while Saturday’s opponents Southampton have the division’s worst defence, having conceded 25 goals already.Those numbers will make pleasant reading for Guardiola’s side, who in the form of Raheem Sterling and Sergio Aguero boast two of the division’s most deadly finishers.England international Sterling has starred for City this season, consistently beating defenders with his pace, creating opportunities for his teammates and regularly getting in behind opposition defences.His speed and direct approach play down the left-hand side has been a thorn in the sides of many teams this season, and that is likely to be the case against a Saints team who have struggled to defend effectively in the wide areas this season.Kyle Walker is expected to return to the team at right-back and his lung-busting runs will be a source of nightmares for Southampton’s beleaguered defensive unit.City will also have, statistically at least, a distinct advantage in the air against Ralph Hasenhuttl’s men, with defender Nicolas Otamendi leading the way for the club in terms of aerial challenges won this season.Interestingly, the Sky Blues have not lost a home game against a side starting the day in the relegation zone since November 2008.Hasenhuttl’s men enter today’s game hoping for a response to their record-breaking 9-0 defeat against Leicester City last Friday, a game in which their attempt to mark man-to-man was torn apart by Ryan Bertrand’s early dismissal.The one-man advantage that the Foxes enjoyed was the undoing of the Saints’ back three, who have looked far from convincing throughout the season thus far.In midweek, the Saints did look much more organised, opting for a fully-fledged 5-3-2 that gave them numbers behind the ball at all times.However, they still lost, a result which extended their winless run in all competitions to five games.After winning their first ever match at the Etihad back in April 2004, the Saints have failed to register a win in the blue half of Manchester in their nine subsequent visits.Although their Austrian coach is under severe pressure at the moment with the south coast club down in the bottom three, there are some signs that they could grab something from the game at the weekend.For example, City had real difficulty breaking down Wolverhampton Wanderers a few weeks ago, eventually being beaten by the pace their opponents possessed on the counter.That offers a blueprint for the Saints to follow, as although they are without influential and explosive winger Moussa Djenepo, they do have the likes of Danny Ings, Che Adams and Nathan Redmond at their disposal.Likewise, as Norwich City showed in September, there will be chances to score against a City backline that is far from impenetrable.Meanwhile, fans will be treated to a sneak preview of one of the EFL Cup quarter-finals today when Aston Villa welcome unbeaten league leaders Liverpool to Villa Park.Two days after the clubs were drawn against each other for December’s cup contest they will do battle in the league, with both sides coming into the game off the back of Wednesday wins which sealed their places in the last eight.Liverpool will have barely had time to catch their breath ahead of this match following their crazy and chaotic cup classic against Arsenal on Wednesday night.A brilliantly bonkers contest ended 5-5 after normal time before Liverpool won a penalty shootout which was actually lower scoring than the game itself, Curtis Jones enjoying the dream moment of netting the winning penalty in front of the Kop end on what was his home debut for his boyhood club.Jurgen Klopp’s suggestion that it could have all been for nothing should Liverpool be forced to withdraw from the competition due to their Club World Cup commitments dampened the atmosphere somewhat after the game, but even with a completely changed XI the result once again showcased the never-say-die attitude that has played a major role in them setting the pace at the top of the Premier League table.Today’s match will be much more than just a dress rehearsal for the EFL Cup quarter-final, particularly with the prospect of an Anfield showdown against Manchester City on the horizon.The Reds take on their main title rivals next weekend knowing that a win would be a significant step towards a first title in 30 years – even at this stage of the season – but they also have matches against Villa and Genk prior to that which will require their full attention.While it is impossible to argue with a joint-record tally of 28 points from the first 30 available which leaves them six clear of City, it is some time since Liverpool delivered a victory as convincing as their league position suggests they should.Over the last five league games the leaders have hung on to beat Chelsea, needed a goalkeeping howler to beat Sheffield United, required late goals against Leicester City and Manchester United and had to come from behind against Tottenham Hotspur to keep their fine form intact.The ability to grind out results when not at their best is a priceless commodity and one which so often separates champions from the rest, but a comfortable and confident win by more than one goal is arguably overdue for a team who have been statistically as good as any the Premier League has ever seen over the past season-and-a-bit.One reason behind that is perhaps their defensive record; Liverpool may have conceded the joint-fewest goals in the Premier League this season, but they have kept only two clean sheets in 10 games and, across all competitions, have not kept a shutout in six.Klopp will be the first to stress that there are no easy games in the Premier League, particularly on the road, and Villa’s home record this season suggests that Liverpool may need to find answers from somewhere again today.The newly-promoted side are unbeaten in their last five outings in front of their own fans including Wednesday’s victory over Midlands rivals Wolverhampton Wanderers, which set up that quarter-final tie with Liverpool.Indeed, home or away Villa’s only loss in their last six matches came at Manchester City last weekend, and even then they gave the champions a scare during a goalless first half.The eventual 3-0 defeat at the Etihad leaves them 15th in the table, just three points clear of the relegation zone, but Dean Smith will be relatively content with how their return to the top flight has gone so far.Only Tottenham outside the top four have scored more goals than the Villans this term, although on the flip side only the bottom three have conceded more too, so there are clear areas for improvement.A double-header against Man City and then Liverpool is as tough as it gets in the Premier League at the moment and if Villa can even come away with one point from those two games they will deem that a good return, so they could be out to frustrate the Reds from the off in this match.In John McGinn, Anwar El Ghazi and Jack Grealish they have a midfield capable of breaking and getting goals, though, while Wesley could provide an important hold-up role if, as expected, Liverpool see the lion’s share of possession.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Still trailing Liverpool by six points, Manchester City would be hoping to continue to keep on the pressure on the league leaders with the visit of Southampton to the Etihad Stadium for the second time in five days after first hosting the Saints in the Carabao Cup on Tuesday  Manchester City welcome Southampton back to the Etihad Stadium today in the Premier League, just four days after they knocked the Saints out of the Carabao Cup.City have responded well since losing to Wolves at the start of the month, winning their last four games in all competitions, including back-to-back wins in the Premier League. However, due to the impressive form of rivals Liverpool, Pep Guardiola’s side still find themselves six points adrift of the Reds, who sit top of the table. Soccer Football – Premier League – Manchester City v Liverpool – Etihad Stadium, Manchester, Britain – January 3, 2019 Manchester City’s Raheem Sterling in action with Liverpool’s Virgil van Dijk REUTERS/Phil Noble EDITORIAL USE ONLY. No use with unauthorized audio, video, data, fixture lists, club/league logos or “live” services. Online in-match use limited to 75 images, no video emulation. No use in betting, games or single club/league/player publications. Please contact your account representative for further details.last_img read more

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Liverpool Unveil Anfield Redevelopment Plan

first_imgLiverpool Football Club has unveiled its stadium expansion plans with detailed proposals for the expansion of its Main Stand and outline proposals for expansion of its Anfield Road Stand. Public consultation and exhibitions on the proposals are scheduled for this week and Liverpool are asking for residents, fans and local businesses to give their views as part of its planning application, which they expect to submit in the summer.The exhibition shows the detailed design proposals for the redevelopment of the Main Stand which could add an additional 8,500 seats taking the Main Stand capacity to nearly 21,000 and overall Anfield capacity to around 54,000.The scheme will include a two-storey podium and a carefully designed cloister which will become the new home for the Hillsborough Memorial.The outline proposals for the Anfield Road Stand provide for an increase in its capacity of around 4,800 seats.Ian Ayre, Liverpool FC managing director, said, “As part of our proposed stadium redevelopment project, we have unveiled the detail of our ambitious plans for an expanded Main Stand and Anfield Road stand and are embarking on a consultation process which will shape and inform our planning application. “In order to move forward with our expansion plans we need to have certainty that we can navigate the complex planning process and secure the support of the community, local home owners, businesses and other key stakeholders. This consultation exercise is an important part of this process.”We started this journey just over 18 months ago and a lot of work has already been done, there is still an incredible amount to do, but good progress has been made so far and we are proud to be able to unveil our plans.”Liverpool, under the ill-fated stewardship of former owners Hicks and Gillett, had planned to build a new stadium at Stanley Park. Those plans were scrapped in favour of redeveloping their current home, Anfield and a wider regeneration of the Anfield area in conjunction with the local council and Your Housing Group.Following this consultation process, Liverpool FC expects to refine its plans and submit a planning application to the City Council during the summer.If consent is granted, construction work on the proposed Main Stand could begin early next year and it could be complete in time for the 2016-17 season. Mayor of Liverpool, Joe Anderson, said: “This is another important step in our ambitions to transform the Anfield area, bringing new jobs, investment and housing. “The overall regeneration of Anfield will see £260m invested in the local community and will deliver hundreds of jobs – Liverpool Football Club’s proposals for the stadium are a key part of this.”We are all committed to delivering a brighter future for Anfield and the club’s exhibition is a clear signal that real progress is being made with all our plans.last_img read more

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Colin Kaepernick kneeling timeline: How protests during the national anthem started a movement in the NFL

first_imgAlmost four years after he began protesting racial injustice and police brutality in America by sitting and then kneeling during the national anthem at NFL games, Colin Kaepernick remains out of a job.Kaepernick, now a 32-year-old free agent quarterback who hasn’t played in the NFL since the last week of the 2016 season, ended up spending six years with the 49ers before his peaceful protest led to his apparently getting blackballed by the league’s team owners. He remains a polarizing civil rights activist to this day even though he is no longer granted the platform of NFL quarterback. Colin Kaepernick https://images.daznservices.com/di/library/sporting_news/dc/f1/colin-kaepernick-111419-ftr_1l37w1bd67cpm1uujdpx115fax.png?t=1791063838&w=500&quality=80March 18, 2017 — The signings of lesser QBs in NFL free agency contribute to the suspicion that Kaepernick is being blackballed by NFL teams. Bleacher Report publishes a story on how NFL front-office types still want nothing to do with him after his protests during the national anthem.June 5, 2017 — The Seahawks, a team that was interested in signing Kaepernick, instead add Austin Davis to the roster. “Colin’s been a fantastic football player and he’s going to continue to be,” Seattle coach Pete Carroll says a couple days prior. “At this time, we didn’t do anything with it. We know where he is, who he is and we had a chance to understand him much more so. He’s a starter in this league and I can’t imagine somebody won’t give him a chance to play.”July 31, 2017 — With his team considering signing Kaepernick, Ravens owner Steve Bisciotti asks people to pray for his franchise. “I know that we’re going to upset some people, and I know that we’re going to make people happy that we stood up for somebody that has the right to do what he did,” Bisciotti says. “Non-violent protesting is something that we have all embraced. I don’t like the way he did it. Personally, I kind of liked it a lot when he went from sitting to kneeling. I don’t know, I’m Catholic — we spend a lot of time kneeling.”Baltimore coach John Harbaugh confirms the team has been in contact with Kaepernick.Aug. 25, 2017 — A year after Kaepernick’s first protest, hundreds of his supporters stage a rally outside the NFL’s headquarters in New York. “We believe that the NFL has been complicit in the ostracization of Colin Kaepernick,” says Symone Sanders, a Democratic strategist and CNN political analyst. “And today, it is time for the NFL to take a stand.”Sept. 22, 2017 — Trump tells a group of supporters in Alabama that players who protest during the national anthem should be fired: “Get that son of a bitch off the field right now.”Trump wishes NFL owners would tell anthem protesters “get that son of a bitch off the field right now” pic.twitter.com/gq4EH3lNoY— Washington Examiner (@dcexaminer) September 23, 2017Sept. 24, 2017 — A couple days after Trump says players who kneel during the national anthem should be fired, players from numerous teams protest en masse, with members of several teams remaining in the locker room while the anthem is played. That same day, Trump encourages fans to stop going to NFL games until players “stop disrespecting our Flag & Country.”Sept. 26, 2017 — As protests during the national anthem continue at NFL games, President Trump says Goodell should have suspended Kaepernick, who remains unsigned. Trump also tweets the following: “The NFL has all sorts of rules and regulations. The only way out for them is to set a rule that you can’t kneel during our National Anthem!”Sept. 26, 2017 — Cowboys owner Jerry Jones locks arms and kneels with players before the playing of the national anthem on a Monday night in Arizona. He and the players then stand for the actual anthem.#FootballIsFamily pic.twitter.com/otMlQjqnnr— Dallas Cowboys (@dallascowboys) September 26, 2017Oct. 8, 2017 — Vice president Mike Pence attends a Colts vs. 49ers game in Indianapolis but leaves after players protest during the national anthem. “(President Trump) and I will not dignify any event that disrespects our soldiers, our Flag, or our National Anthem,” Pence tweets, later adding, “At a time when so many Americans are inspiring our nation with their courage, resolve, and resilience, now, more than ever, we should rally around our Flag and everything that unites us. While everyone is entitled to their own opinions, I don’t think it’s too much to ask NFL players to respect the Flag and our National Anthem.”Oct. 8, 2017 — Kaepernick confirms to CBS he still wants to play in the NFL and is working out every day in preparation of an opportunity.Oct. 15, 2017 — Kaepernick hires attorney Mark Geragos and files a grievance under the CBA for collusion against NFL owners. The filing states that NFL team owners “have colluded to deprive Mr. Kaepernick of employment rights in retaliation for Mr. Kaepernick’s leadership and advocacy for equality and social justice and his bringing awareness to peculiar institutions still undermining racial equality in the United States.”Geragos says the grievance was filed “only after pursuing every possible avenue with all NFL teams and their executives.”Dec. 6, 2017 — Beyonce makes a surprise appearance to hand Kaepernick the Muhammad Ali Legacy Award at Sports Illustrated’s Sportsperson of the Year ceremony. “With or without the NFL’s platform, I will continue to work for the people,” Kaepernick says.March 15, 2018 — Another free agency period opens and plays out without Kaepernick receiving an offer to sign with a team.April 18, 2018 — With Kaepernick present, his attorneys depose Goodell at the NFL’s headquarters. Also sitting for depositions at various points in the grievance process are high-profile NFL names like Cowboys owner Jerry Jones, Broncos general manager John Elway and Patriots owner Robert Kraft.May 2, 2018 — After Reid goes through the first waves of free agency unsigned, the NFLPA files a grievance on the safety’s behalf. Reid is being represented by Kaepernick’s attorney.May 23, 2018 — The NFL announces a new rule against kneeling during the national anthem. It gives players the option of staying in the locker room, instead. “We want people to be respectful to the national anthem,” Goodell says. “We want people to stand. That’s all personnel, and make sure they treat this moment in a respectful fashion. That’s something we think we owe. We have been very sensitive in making sure we give players choices, but we do believe that that moment is important and one we are going to focus on.”A day later, Trump praises the league’s new anthem stance.President @realDonaldTrump: “You have to stand proudly for the national anthem or you shouldn’t be playing, you shouldn’t be there, maybe you shouldn’t be in the country.” https://t.co/syjhxsoPzO @foxandfriends pic.twitter.com/60ai9J0GqH— Fox News (@FoxNews) May 24, 2018Aug. 3, 2018 — Users realize Kaepernick’s name has been edited out of a song on the soundtrack of EA Sports’ “Madden NFL 19,” evidently for the second year in a row. His name is eventually added back to the song in the game.Aug. 9, 2018 — The NFL releases a statement that announces players will not be disciplined for protesting during the national anthem despite the league’s policy: “The NFL has been engaged in constructive discussions with the NFL Players Association regarding the anthem and issues of equality and social justice that are of concern to many Americans. While those discussions continue, the NFL has agreed to delay implementing or enforcing any club work rules that could result in players being disciplined for their conduct during the performance of the anthem. “Meanwhile, there has been no change in the NFL’s policy regarding the national anthem. The anthem will continue to be played before every game, and all player and non-player personnel on the field at that time are expected to stand during the presentation of the flag and performance of the anthem. Personnel who do not wish to do so can choose to remain in the locker room.”Aug. 30, 2018 — The NFL’s request for a summary judgment dismissing Kaepernick’s grievance is rejected by an independent arbitrator, allowing the case to move forward to trial.Sept. 3, 2018 — Nike uses Kaepernick as the face of an ad campaign. The reactions range from applause to burning shoes.Believe in something, even if it means sacrificing everything. #JustDoIt pic.twitter.com/SRWkMIDdaO— Colin Kaepernick (@Kaepernick7) September 3, 2018Sept. 27, 2018 — Kaepernick congratulates Reid on being signed by the Panthers. “Congratulations to my brother, an All-Pro safety who should have been signed the first day of free agency, who has signed a football contract,” Kaepernick writes on Instagram. “He has was the FIRST person to kneel alongside me. Eric is a social justice warrior, continues to support his wife, two beautiful daughters and communities in need.”Feb. 15, 2019 — Kaepernick and Reid reach settlements in their collusion grievances against the NFL. “For the past several months, counsel for Mr. Kaepernick and Mr. Reid have engaged in an ongoing dialogue with representatives of the NFL,” attorney Mark Geragos and the NFL say in a joint statement. “As a result of those discussions, the parties have decided to resolve the pending grievances. The resolution of this matter is subject to a confidentiality agreement so there will be no further comment by any party.”March 21, 2019 — The Wall Street Journal reports the NFL paid less than $10 million to settle the grievances of Kaepernick and Reid.Aug. 8, 2019 — Kaepernick sends message to NFL teams when he tweets an intense workout video. “Five a.m. Five days a week. For three years. Still ready,” he says in the tweet.5am. 5 days a week. For 3 years. Still Ready. pic.twitter.com/AGczejA1rM— Colin Kaepernick (@Kaepernick7) August 7, 2019Aug. 9, 2019 — Asked about Kaepernick’s message the day before, Trump claims he would “love to see” the QB back in the NFL. “Only if he’s good enough,” Trump says. “If he was good enough, they’d hire him. Why wouldn’t he play if he was good enough? I think if he’s good enough, I know the owners – I know (Patriots owner Robert) Kraft, I know so many of the owners — if he’s good enough, they’d sign him. I know these people. They would sign him in a heartbeat. They would do anything they can to win games. So I’d like to see it.”Oct. 9, 2019 — Citing Kaepernick, Rihanna confirms she turned down a chance to be the Super Bowl 54 halftime performer. “I couldn’t dare do that,” she tells Vogue. “For what? Who gains from that? Not my people. I just couldn’t be a sellout. I couldn’t be an enabler. There’s things within that organization that I do not agree with at all, and I was not about to go and be of service to them in any way.”Nov. 13, 2019 — ESPN reports the NFL has arranged a workout for Kaepernick so teams can assess his “readiness” and “level of interest” in a potential return to the league. Kaepernick receives word of the workout in Atlanta just a few days ahead of time, but he expresses his excitement “to see the head coaches and GMs” who might attend.After the league apparently reverses course on sending Kaepernick a list of team officials would attend the workout, Reid among others becomes suspicious of the NFL’s motives. “It’s disingenuous,” Reid says. “They want the appearance of giving Colin a chance, but they give him two hours’ notice and tell (him) it has to be on a Saturday when they know decision-makers are traveling. So is this real? We’ll see.”Nov. 18, 2019 — On the morning of the workout, Kaepernick and his representatives decide to move the location on short notice. Kaepernick’s camp says it changed venues because the NFL was not allowing for full transparency (specifically, media access and suitable video recording) at the Falcons’ facility. Kaepernick also objected to the non-standard injury waiver the league wanted him to sign. Only some of the team representatives who came to watch Kaepernick follow him from the Falcons’ facility in Flowery Branch, Ga., to the field at Charles R. Drew High School in Riverdale, Ga.”I’ve been ready for three years. I’ve been denied for three years,” Kaepernick says after the workout at the new location. “We all know why. I came out there and showed it today in front of everybody. Stop running from the truth. Stop running from the people.” Colin Kaepernick made a 90 second statement before leaving pic.twitter.com/QlH2RTnLp5— Dan Wolken (@DanWolken) November 16, 2019May 29, 2020 — Kaepernick defends protests after George Floyd’s death at the hands of Minneapolis police. “When civility leads to death, revolting is the only logical reaction,” Kaepernick says. “The cries for peace will rain down, and when they do, they will land on deaf ears, because your violence has brought this resistance. We have the right to fight back! Rest in power George Floyd.”May 30, 2020 — The NFL releases a statement on the death of Floyd and the ensuing global protests, and the league winds up with heavy doses of Kaepernick in its mentions, with many of the reactions in the vein of, “You could have led the fight against police brutality and racial injustice four years ago, but instead you worked against peaceful protesters like Kaepernick.” The 49ers get a similar reminder when they participate in Black Tuesday.June 5, 2020 — Goodell offers another statement, this time via video, after the NFL is called out by a group of star players requesting a more sincere response. “We, the National Football League, admit we were wrong for not listening to NFL players earlier, and encourage all to speak out and peacefully protest,” Goodell says. Many criticize Goodell for not specifically mentioning Kaepernick’s name. Which is why Kaepernick’s name was immediately referenced when the NFL recently released what was digested as an empty statement on George Floyd’s death at the hands of Minneapolis police. Similar responses came when Kaepernick’s former team made its own statements on injustice amid global protests of Floyd’s death.Four years ago, however, Kaepernick’s protests during the national anthem were much more of a societal wedge than similar demonstrations are today. In the days, weeks, months and years after Kaepernick first explained why he was protesting, trenches were occupied. Some understood and applauded Kaepernick’s efforts. Others failed to separate the cause of the protests from the method of protest and repeatedly chastised the quarterback.Below is the timeline from then until now, an outline that details a crossfire of praise and ridicule aimed at Kaepernick over the last four years. It begins with the night his previously undetected protesting was noticed by a reporter.MORE: Why did Colin Kaepernick kneel?Colin Kaepernick kneeling timelineAug. 26, 2016 — Kaepernick, who at the time is entering his sixth NFL season, all with the 49ers, sits on the bench during the national anthem before San Francisco’s preseason home game against Green Bay. It’s not the first time he has sat during the anthem, but his action is noticed by reporters.”I am not going to stand up to show pride in a flag for a country that oppresses black people and people of color,” Kaepernick tells NFL Media after the game. “To me, this is bigger than football and it would be selfish on my part to look the other way. There are bodies in the street and people getting paid leave and getting away with murder.”Aug. 27, 2016 — The 49ers and the NFL issue statements on Kaepernick’s protest the night before. From the team: “The national anthem is and always will be a special part of the pre-game ceremony. It is an opportunity to honor our country and reflect on the great liberties we are afforded as its citizens. In respecting such American principles as freedom of religion and freedom of expression, we recognize the right of an individual to choose and participate, or not, in our celebration of the national anthem.”From the league: “Players are encouraged but not required to stand during the playing of the national anthem.”Aug. 30, 2016 — Former Seahawks player and Green Beret Nate Boyer writes an open letter to Kaepernick from the perspective of a supportive military member. The two meet in person a day later, and Boyer talks Kaepernick into changing his method of protest from sitting to kneeling during the national anthem out of respect.”We sorta came to a middle ground where he would take a knee alongside his teammates,” Boyer tells HBO. “Soldiers take a knee in front of a fallen brother’s grave, you know, to show respect. When we’re on a patrol, you know, and we go into a security halt, we take a knee, and we pull security.”Thanks for the invite brother… Good talk. Let’s just keep moving forward. This is what America should be all about pic.twitter.com/LgjPpjk173— Nate Boyer (@NateBoyer37) September 2, 2016Sept. 1, 2016 — Kaepernick proceeds with his new method of protest, kneeling rather than sitting, before the 49ers’ final preseason game, a road contest against the Chargers. This time he is joined by San Francisco safety Eric Reid. This becomes the duo’s method of protest for the entire season.Sept. 1, 2016 — After the Chargers game, Kaepernick pledges to donate $1 million of his 2016 salary to organizations he believes can help his cause. “The media painted this as I’m anti-American, anti-men and women of the military, and that’s not the case at all,” he says. “I realize that men and women of the military go out and sacrifice their lives and put themselves in harm’s way for my freedom of speech and my freedoms in this country, and my freedom to take a seat or take a knee. So I have the utmost respect for them. …”The message is we have a lot of issues in this country that we need to deal with. We have a lot of people that are oppressed. We have a lot of people that aren’t treated equal, given equal opportunities. Police brutality is a huge thing that needs to be addressed. There are a lot of issues that need to be talked about, to be brought to life, and we need to fix those.”In 2016, @Kaepernick7 was asked if he or his protests could be seen as un-American.This was his answer: pic.twitter.com/0ATDqYUehC— ESPN (@espn) June 9, 2020Sept. 3, 2016 — First-year 49ers coach Chip Kelly gives Blaine Gabbert the starting QB job over Kaepernick, who is still recovering a pair of offseason surgeries (thumb, knee) on top of the shoulder surgery that ended his 2015 season. “I think (Gabbert’s) grasp and command of what we’re doing, I think he’s a good fit for what we want to get accomplished,” Kelly says. “I have a lot of confidence in what he can do with us offensively.”Sept. 5, 2016 — President Barack Obama defends Kaepernick’s protest. “He’s exercising his constitutional right to make a statement,” Obama says at a news conference during the G20 summit in China. “I think there is a long history of sports figures doing so. I think there are a lot of ways you can do it when it comes to the flag and national anthem.”Sept. 7, 2016 — NFL commissioner Roger Goodell breaks his silence and issues his first public comments on Kaepernick’s protests. “I don’t necessarily agree with what he is doing,” Goodell says, adding, “I support our players when they want to see change in society, and we don’t live in a perfect society. On the other hand, we believe very strongly in patriotism in the NFL. I personally believe very strongly in that.”Sept. 11, 2016 — On the first Sunday of the 2016 season, many NFL players follow Kaepernick’s lead and protest racial injustice during the national anthem before their games.Roundup of #NFL players participating in protests on Sunday. pic.twitter.com/ToDpZYod7z— Jordan Heck (@JordanHeckFF) September 12, 2016Sept. 12, 2016 — Republican presidential candidate Donald Trump says Kaepernick and other players protesting during the national anthem should leave the country. “You know, you are talking about a major sport, maybe the major sport, and when you see that and it leads to a lot of other things,” Trump says. “I think it’s a great lack of respect and appreciation for our country and I really said they should try another country, see if they like it better. See how well they’ll be doing. See if they are going to be making $20 million being a second-string quarterback.”Sept. 22, 2016 — Time Magazine puts Kaepernick on the cover of its Oct. 5 issue.Sept. 27, 2016 — Kaepernick responds to Trump’s claim that the protests are “a lack of respect” for the United States. “He always says make America great again,” Kaepernick says of the presidential candidate. “Well America has never been great for people of color. That’s something that needs to be addressed. Let’s make America great for the first time.”Oct. 7, 2016 — Kaepernick agrees to restructure his contract with the 49ers. The new deal eliminates his guaranteed money for 2017, voids the last three years of the contract and gives Kaepernick the right to opt out after 2016. Prior to the renegotiation, Kaepernick protects himself with a $7.5 million loss-of-value insurance policy.Oct. 11, 2016 — Kelly announces Kaepernick will make his season debut as the 1-4 49ers’ starter in Week 6 against the Bills. He completes only 13 of 29 passes in a 45-16 loss but remains San Francisco’s starter the rest of the season.Nov. 8, 2016 — Kaepernick chooses not to vote in the 2016 presidential election. “It was embarrassing to watch that these are our two candidates,” he says of Trump and Hillary Clinton. “Both are proven liars, and it almost seems like they’re trying to debate who’s less racist. And at this point … you have to pick the lesser of two evils. But in the end, it’s still evil.”Dec. 4, 2016 — Kaepernick gets benched by Kelly in the fourth quarter of a loss to the Bears that drops the 49ers to 1-11. He starts again the following week against the Jets.March 1, 2017 — Kaepernick’s agents tell NFL teams he will opt out of his contract with the 49ers. The move comes two months after Kelly and general manager Trent Baalke were fired by San Francisco and eventually replaced by new coach Kyle Shanahan and GM John Lynch. Previous reports had indicated the 49ers planned to release Kaepernick had he not opted out. (Getty Images)last_img read more

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