Real Madrid's Bernabéu To Be Renamed ARU Backs Brumbies To End Finance Woes ASA Clears Beckham's Whisky Ad Legia Warsaw Launches $2.3M Fund Aussie Open Match Attracts 3.5M Viewers Executive Transactions Argentine Footballerr Returns To China Cologne To Increase Stadium Capacity Force India To Skip Jerez Test Names In The News
SBD Global/June 4, 2013/FinancePrint All
The part-owner of F1 is plotting a $2B-plus "takeover bid for IMG Worldwide," according to Mark Kleinman of SKY NEWS. CVC Capital Partners, the London-based private equity group, "is working on a blockbuster bid for IMG, which has been put up for sale in recent weeks." A person familiar with the plans said, "CVC is taking this incredibly seriously. They have done a huge amount of work on this and see themselves as a natural owner of a business like IMG." CVC "would be a logical buyer of IMG." Since gaining control of F1's shares in '05, "it has grown the sport's profits significantly, to the degree that it has been planning a stock market listing" that could value F1 at $12B. It also previously owned Dorna Sports, the organization behind the MotoGP, and "bought All Sport Management, the company which has the rights to advertise at F1 circuits around the world." CVC "will face tough competition to secure control of IMG, which is arguably the most coveted sports rights asset to come up for sale for several years" (SKY NEWS, 6/1).
Spain's Federal Police Union (UFP) estimated Monday that the cost for Spain for La Liga security materials was €10M ($13.1M), according to the EFE. The UFP has requested that clubs finance these services for private activities. UFP spokesperson Serafín Giraldo said, "We request that clubs finance their security privately, as already occurs in Spanish Cycling." Giraldo said that only Spain's security forces are capable of providing the stadium security "with guarantees and professionalism." The UFP made its calculation using the hours spent on high-risk football games by the Anti-violence Commission. In 380 games, 416,100 hours of labor have been devoted to security, costing a total of €7.5M ($9.8M). The remaining security costs come from security for games played in the Spanish Second Division and "inferior categories" (EFE, 6/3).
It looks like Nathan Tinkler will not "be walking away from the racing industry after all," according to Chris Roots of the SYDNEY MORNING HERALD. He "is set to compete with buyers from around the world when his Patinack Farm racing stock goes under the hammer as part of the reduction sale at Magic Millions on Friday." Industry insiders are predicting "fireworks" as some quality stock, highlighted by Peron, which has won five of her six starts, stayer Tremec and a number of other stakes performers is sold. The reduction sale has so far netted Patinack Farm more than A$10M ($9.8M), and while Tinkler "is scaling back his racing interests, he is expected to keep up to 30 horses in work." It is believed Tinkler "will buy through his trainer John Thompson, father Les or an agent" (SMH, 6/3).