Atlético Madrid Cuts Debt By $115M Russian Club Seeks Help Finding Sponsor Li Na Retires Due To Knee Injures England To Play Extra Int'l In 2016 Official Says Russian GP Will Go Ahead Pulver: Ratings Drop Won't Impact TV Deal Wembley To Host Euro 2020 Final, Semis Sports Bodies Say Business As Usual UCI To Use Cameras During Championships Stroll To Decide Between Sauber, Lotus
SBD Global/April 12, 2013/FranchisesPrint All
Irish businessman Derek Richardson "has become principal shareholder" of Premiership rugby side London Wasps, according to the BBC. The Wasps "had been owned by a consortium including ex-player Ken Moss since September." Richardson's business background is in insurance, and he made a reported €30M from the sale of his 123.ie company in '10. Richardson: "Financial stability is our immediate focus and our aim is to become a self-sustainable business within a number of years" (BBC, 4/10). In London, Mike Averis reported Richardson immediately said that continuing their ground share at Adams Park "was not an option and that work had already started on looking for possible sites." Richardson: "Increasing revenue is an important part of a five-year strategic plan, which we are currently finalizing. There is a combination of ways we can do this. Very obviously we want to increase revenue from ticket sales, increase sponsorship income and then, longer term, generate vital revenue through owning or co-owning our own stadium" (GUARDIAN, 4/10). Richardson "met the players at their current base in Acton and told them that new, improved training facilities were near the top of his agenda" (London INDEPENDENT, 4/10).
Scottish Third Division club Rangers Dir Walter Smith "has demanded showdown talks" with CEO Charles Green after revealing that "he was kept in the dark over financial links" to former Owner Craig Whyte, according to Gary Ralston of the Scotland DAILY RECORD. Smith "has refused to be drawn on his future as a non-executive Rangers director until he grills Green on the latest controversies" to engulf him. The Rangers board is "expected to meet shortly to discuss a series of concerns over Green’s recent comments, including his racist remark." However, directors "have been scattered around the globe during the Easter break and a date has yet to be set." Whyte "re-emerged last week to insist Green was his frontman all along in the takeover battle for the club." Green has "denied Whyte’s claims but admitted his relationship with him was closer than he had let on" (DAILY RECORD, 4/11). In Edinburgh, Rhiannon Williams reported police "have carried out a series of raids of properties in Scotland and England" relating to Whyte’s purchase of Rangers from David Murray. A Police Scotland spokesperson said: "Officers have carried out a number of searches at addresses in Scotland and England. These related to both domestic and business premises. This remains an ongoing investigation, and no further information can be provided" (SCOTSMAN, 4/11).