Over 60,000 Expected For Sydney Cup Edinburgh Opens New Sports Facility Executive Transactions China's Spending May No End With LFC BCCI For Transparency In IPL Media Rights Swans 'Forced' To Play At ANZ Stadium Atlético Huila Unable To Play At Home Team GB Praises British Airways CAS Confirms Russian Paralympic Ban Celtic Fans Raise $59,400 For Charities
SBD Global/November 28, 2012/FinancePrint All
Olympic cyclist Chris Hoy Tuesday announced that "he will launch his own range of cycles" in May, but he "still hopes to extend his glittering career to the 2014 Commonwealth Games in the Glasgow stadium named after him," according to Mike Dawes of the London DAILY MAIL. Great Britain’s most decorated Olympian "is going into business with leading U.K. retailer Evans." Hoy said, "I want to help more people experience the power and enjoyment of cycling, as well as demystifying it and making it more accessible to all." The initial launch will consist of three road bikes for recreational and sports cyclists and four city bikes for commuters and leisure cyclists. The early models will be for youth as well as adults, "and there are plans to extend the range to cater for every cyclist, including a limited-edition track bike" (DAILY MAIL, 11/27).
German Hockey League (DEL) club Dusseldorf EG "revealed it is missing about €2.4M ($3.1M) to secure its existence and be able compete during the '13-14 season," according to the DPA. The historical club declared its situation is "again dramatic." The main reason for the financial troubles "are missing medium-term investment agreements." Investments of €1.2M ($1.6M) "were only guaranteed for the current season."A club spokesperson said, "So far, we have no financial foundation for the granting of a license for the upcoming season" (DPA, 11/26). In Dusseldorf, Gianni Costa reported the club "has contacted about 1,000 companies regarding potential sponsorship deals over the last several months." Administrator Arndt Rautenberg said, "There have been promising talks. However, we haven't been able to put the pen to the paper." The DEG has to come up with binding agreements by Feb. 15 otherwise it could mean the end of a German hockey institution. DEG Managing Dir Elmar Schmellenkamp said, "We have to get those on board that have hesitated with an involvement so far" (RP ONLINE, 11/27).
Bundesliga club Borussia Dortmund "will pay dividends to its shareholders for the first time since it went public 12 years ago," according to the DPA. Each shareholder "will receive €0.6 ($0.78) per share from the club." Dortmund "will pay out a total of €3.68M ($4.8M)." Club members "agreed with a huge majority to the club's proposal of paying out dividends at its annual meeting on Monday considering the club's record profit of more than €34M ($43M)" (DPA, 11/26).
LAUGHTER...: The SID reported 2nd Bundesliga club Eintracht Braunschweig "released its financial numbers of the '11-12 fiscal year in which it generated a profit of €1.7M ($2.2M)." The club "was able to increase its equity to €2.1M ($2.7M) by June 30." Braunschweig released its financial numbers at its annual meeting on Monday evening. In addition, the club's revenue increased to €17M ($22M). Club Managing Dir Soeren Oliver Voigt said, "An on-field as well as economically successful year lies behind us, and we are very happy about the result. It confirms our philosophy and paves the way for the next several years" (SID, 11/26).
...AND TEARS: The DPA reported 2nd Bundesliga club Hertha BSC Berlin "released its financial numbers of the '11-12 fiscal year in which it lost €5.9M ($7.6M) before taxes." The club had expenditures of €79.8M ($103.3M) during the last season, including personnel costs of €32.4M ($42M), but generated only $72.5M ($93.9M) in revenue. During the '11-12 season in which the club was relegated to the 2nd Bundesliga, Hertha's "liabilities increased from €34.4M ($44.9M) to €42M ($54.4M)." The €42M in liabilities is the highest figure since '06 (DPA, 11/26).