SBD Global/April 11, 2013/Finance

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  • Men Behind Three Of Football's Top Stars Partner To Form Global Business Venture

    The strategists behind three of football’s biggest names -- David Beckham, Cristiano Ronaldo and Jose Mourinho -- "are setting up their own sports business," according to Charles Sale of the London DAILY MAIL. XIX Entertainment PR Head Simon Oliveira "is joining forces with" Creative Artists Agency Talent Head Matt Kay "to run a venture capitalist fund" specializing in sport. The initiative "has the necessary investors to become a force across the sports industry and persuade Oliveira and Kay to leave their high-profile roles." XIX has Beckham, Andy Murray and Lewis Hamilton on its books, while the CAA cast list includes Real Madrid Manager Mourinho and player Ronaldo. Oliveira "will continue his PR role with Beckham, working on a consultancy basis with XIX." Beckham "did not want to lose Oliveira from his management team after working closely with him for nine years" (DAILY MAIL, 4/9).

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  • Former Rangers Owner Craig Whyte Faces Bankruptcy After Losing Battle With Ticketus

    Former Scottish Third Division Rangers Owner Craig Whyte "is facing bankruptcy after losing a court battle with Ticketus" over a £17.7M ($27.1M) dispute, according to the SCOTSMAN. Whyte "has been ordered to pay the sum back to Ticketus" after a High Court judge in London ruled in favor of the company, which was suing Whyte "for luring them into a deal on false pretenses." The Monaco-based businessman must also pay an additional £700,000 ($1.1M) in interest and legal costs "after his bid to counter-sue the company failed" (SCOTSMAN, 4/10). The HERALD SCOTLAND reported Ticketus "handed Whyte the sum as part of a ticket-purchase agreement" struck in May '11, and it "was subsequently used in the Motherwell-born businessman's deal to buy the Ibrox outfit." Ticketus said it "would never have entered into the deal with Whyte, whose own Rangers takeover remains the subject of a police inquiry, had they known about his boardroom disqualification" (HERALD SCOTLAND, 4/10).

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  • Chinese Sportswear Company Qiaodan Sues Michael Jordan For $8M In Damages

    Chinese sportswear company Qiaodan Sports said that it sued Michael Jordan for $8M in damages "after his lawsuit claiming unauthorized use of his name," according to Vinicy Chan of BLOOMBERG. The retailer’s suit "was accepted by the Quanzhou City Intermediate People’s Court in Fujian on April 2." The Chinese company, which has about 6,000 shops in the country, claimed that Jordan "tarnished its reputation and delayed its plan for an initial public offering." Jordan sued Qiaodan in Feb. '12 "for using his Chinese name and jersey number 23 without permission." Qiaodan "denied the unauthorized use of Jordan’s Chinese name" in a statement Wednesday. Jordan’s lawsuit "is proceeding at the Shanghai People’s Intermediate Court" (BLOOMBERG, 4/10).

    Print | Tags: Finance, China, North America
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