SBD Global/June 12, 2013/Finance

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  • BRICS Nations Use Mega-Events To Boost Development Often At Cost To Public Purse

    The growing influence of the BRICS nations (Brazil, Russia, India, China and South Africa) in world affairs was symbolized by the staging of the 2008 Beijing Olympics  and the 2010 World Cup in South Africa, "and will be further underlined by Brazil's forthcoming hosting of both events," according to Jonathan Watts of the London GUARDIAN. Host countries "have tried to use these mega-events to boost development by accelerating investments in infrastructure and lifting services, governance and local business" to int'l standards. However, the cost to the public purse and the communities affected can be enormous, "prompting criticism that the money would be better spent at grassroots level, on improving health and education, rather than on awarding prestige projects to construction companies." The IOC now "includes legacy issues in its regulations for the assessment of hosting bids," but FIFA makes no such formal consideration in deciding which nations should stage the World Cup. São Paulo Deputy Mayor Nádia Campeão said that FIFA "should do more to take the legacy issue into account." Campeão said, "But even if it is not worried, the host city should be. There has to be more assessment of their demands. Do we really need to do everything?" Campeão said that "the mega-events were worth the expense." Campeão: "The benefits are not just in tourism and business, but reach all the way through society" (GUARDIAN, 6/11).

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  • Survey: Man City The Highest-Paid Team In Global Sports With Average Salary Of $8.1M

    Manchester City is the highest-paid team in global sport according to Sportingintelligence’s Global Sports Salaries Survey for '13, compiled in association with ESPN The Magazine and published this week to coincide with The Magazine’s "Money Issue." The average first-team pay at Man City, which has been transformed as a footballing force under the ownership of Sheikh Mansour, has been calculated at £5.2M ($8.1M) per year, or £100,764 ($157,000) per week in the period under review. Man City has climbed from last year’s third place to take the top spot and has surprising newcomers into the top 10 breathing down its necks. The MLB L.A. Dodgers are the second best-paid team in global sports in this review with their stars earning £4.86M ($7.6M) per year (£93,380/$145,600 a week) on average. The Dodgers’ payroll more than doubled year-on-year, seeing them climb 67 places from No. 69 last time to No. 2 this year. Spanish clubs FC Barcelona and Real Madrid have both fallen slightly, although that is also partly down to the weakening of the euro against the dollar and the pound. Barca has dropped three places from No. 1 to No. 4, while Real has dropped a place, from No. 2 to No. 3. The NBA remains the highest-paid league per man, with average annual salaries of £2.72M ($4.2M) a year, or £52,274 ($81,500) per player per week on average (Sportingintelligence).

    Global Sports Salaries Survey 2013: The Richest Teams By Average First-Team Pay
    RANK
    TEAM
    LEAGUE
    AVERAGE PLAYER PAY PER YEAR
    AVERAGE PLAYER PAY PER WEEK
    1 (3)
    Manchester City
    Premier League
    $8,059,477
    $154,990
    2 (69)
    L.A. Dodgers
    MLB
    $7,468,882
    $143,632
    3 (2)
    Real Madrid
    La Liga
    $7,257,216
    $139,562
    4 (1)
    FC Barcelona
    La Liga
    $7,214,545
    $138,741
    5 (6)
    N.Y. Yankees
    MLB
    $7,151,109
    $137,521
    6 (7)
    AC Milan
    Serie A
    $6,538,811
    $125,746
    7 (5)
    L.A. Lakers
    NBA
    $6,292,403
    $121,008
    8 (4)
    Chelsea
    Premier League
    $6,242,919
    $120,056
    9 (8)
    Bayern Munich
    Bundesliga
    $6,152,622
    $118,320
    10 (10)
    Inter Milan
    Serie A
    $6,152,566
    $118,319

    Print | Tags: Finance, United Kingdom, North America
  • Finance Notes: Real Valladolid Demands $531K From Former Coach

    La Liga side Real Valladolid is demanding €400,000 ($531,120) from former coach Miroslav Djukic, who recently signed with Valencia. The club and Djukic had agreed to a €375,000 ($497,925) compensation fee if either party terminated their contract after May 30 (EL CONFIDENCIAL, 6/11). ... Spanish bank BBVA President Francisco González said during the bank's renewal of its sponsorship with La Liga that "football is a great asset that moves €10B ($13.3B), generates 85,000 jobs and means 2% of the Spanish GDP" (EL CONFIDENCIAL, 6/11).

    Print | Tags: Finance
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