Currency Crisis Sinks RPL Transfer Market RTL To Tighten F1 Broadcasts In '15 NRL Forced To Backflip On Power Grab DEL Sets New Attendance Record CFG Launches City Football Japan Executive Transactions Chinese Opinion Split On World Cup Bid Names In The News Possible Solution Emerges In Spain Wigan Athletic Chair Dave Whelan Resigns
SBD Global/September 20, 2012/FinancePrint All
Scottish Premier League club Celtic announced a £2M ($3.2M) increase in the club’s debt, "despite recording pre-tax profits of nearly £200,000 for the second half of '11," according to the SCOTSMAN. The club recorded a total loss of £7M ($11.4M), spending £5.24M ($8.5M) on players in '12, nearly "half of the previous year’s £10.29M outlay on signings." The figures do not include the money from the sale of Ki Sung-Yueng to EPL club Swansea City or the "financial windfall" from reaching the UEFA Champions League group stages (SCOTSMAN, 9/18). In Edinburgh, Michael Grant reported that Celtic CEO Peter Lawwell insisted Celtic's prudence has allowed them to "cope with Scottish football's economic downturn." Lawwell said that the club's finances were "robust despite the impact of Rangers being in the third division." Lawwell: "We said months ago that we had our own strategy for particular outcomes. We are keeping to that and coping well. Our fans have re-engaged with the club. Our season-ticket sales have been fantastic. The Champions League games are sold out. So we are doing OK" (HERALD SCOTLAND, 9/19).
Bundesliga club Hamburg SV "presented its fan bonds" in celebration of the club's 125th anniversary at a press conference on Tuesday, according to the DPA. The HSV "expects income of up to €12.5M ($16.3M) from the sale of its fan bonds." The club wants go ahead with the construction of a youth academy "HSV-Campus" even if the bonds generate only low interest. HSV CEO Carl Jarchow said, "We would only go ahead with the first few steps of the project. However, we don't think that this will be necessary." The HSV-Campus is supposed to be completely financed by the bonds and constructed in close proximity to the club's stadium. Jarchow said, "We want to optimize the club's youth development." Fan bonds, which have a seven-year duration and an interest of 7%, can be subscribed online at www.hsv-anleihe.de until the end of the year. The regular fan bond costs €500 ($651) (DPA, 9/18).