Sources: Two Issues Remain Before Pistons Move Padres' Preller Discusses Role Going Forward Celtics President Talks '16 Challenges Magic's D-League Site Coming Soon Mara Admits Fault In Josh Brown Situation Dolan, Manfred To Discuss Chief Wahoo Logo Tigers, Phils Adding Baseball Analytics Execs Dombrowski Has No Answers About New GM Dolans Elated With Indians Reaching World Series Vegas NHL President Takes On Unique Task
SBD/February 29, 2012/Franchises
EPL Club Aston Villa Announces Record Loss For Year Ending May 31, 2011
Published February 29, 2012
RISING PROFITS: The BBC reported EPL club Arsenal has seen a "huge rise in profits" to $78.9M following the sale of several key players. The profit from May-November '11 compares with a loss of $9.7M for the same period in '10. Some $66.3M of the club's profits "came from player trading." The figures "saw Arsenal's cash reserves rise" to $183.6M, up from $176M. Turnover from soccer rose to $180.9M from $155.6M (BBC.co.uk, 2/27). In London, Rory Smith noted Arsenal CEO Ivan Gazidis was "quick to warn that, contrary to speculation, not all of that money is theoretically available to be spent on players," as much of it is "earmarked for wages, running costs and a 'rainy day' fund designed to improve a cushion should Arsenal miss out on the Champions League" (LONDON TIMES, 2/28).