SBD Global/January 30, 2013/Finance

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  • EPL Fulham Nearly Debt-Free As Mohamed Al Fayed Converts Loans Into Equity

    EPL Fulham is "effectively debt-free" after Owner Mohamed Al Fayed converted his £212M ($334M) in loans to the club into equity, according to Dominic Fifield of the London GUARDIAN. Fulham reported an operating profit of £1.2M for the financial year ending June 30 with that figure inflated by the £3.4M "generated by the team's participation in last season's Europa League." Fulham posted revenue figures of £79.3M, "including the influx from the Europa League," for the last financial year and also saw the overall occupancy figure at Craven Cottage rise to 98.4%. Fayed: "Fulham continues to make great strides and, following planning permission for the redevelopment of the Riverside Stand, we will continue to prosper and grow" (GUARDIAN, 1/29).

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  • BBL Club Gießen 46ers Avoids Bankruptcy; HBL Club TBV Lemgo Also Out Of Trouble

    Basketball Bundesliga (BBL) club Gießen 46ers is on its way to "avoiding a lingering bankruptcy," according to SPORT1. The club said that it has commitments for €360,000 ($484,000) "to close its budget gap." Interim liquidator Tim Schneider said, "The insolvency application can only be retracted if the whole sum is paid. There is still a small way to go. The preliminary work, however, has been done." The sum "is needed to continue the club's operation until the end of the season." The whole amount "has to be transferred to a lawyer's bank account" by Friday from where it will then be transferred to the account of the club. However, the financial situation of the club "continues to be tight despite the expected aversion of bankruptcy." The club's goal is to start from scratch in the second tier Pro A next season. The club "does not want to repeat mistakes that it has made in the past" (SPORT1, 1/29).

    HANDBALL HELPERS: Handball Bundesliga (HBL) club TBV Lemgo has been able to financially secure the current season. The club said that "thanks to the support of shareholders and sponsors a threatening bankruptcy has been avoided." Club Chair Siegfried Haverkamp said, "It was revealed that the TBV Lemgo continues to enjoy the trust of the region." In mid-November, the club got into financial trouble for the second time in five months (TBV Lemgo).

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