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SBD Global/June 20, 2013/FinancePrint All
F1 is the world's fourth-largest economy, according to Ted Macauley of GULF NEWS. If F1 were a nation, "rather than a 200-meter long avenue of trucks, motorhomes, stacks of tires and hospitality units, it would be a global superpower." A study by the Int'l Monetary Fund made "this amazing revelation." If F1 CEO Bernie Ecclestone's pride and joy was a static country instead of a moveable feast, it would have a GDP figure "to boost it into the top four nations in the world." If added together, the turnover from the 200-plus who are financially committed to F1 would have a combined wealth amounting to $3.79T. That's a GDP just behind China ($4.91T) but ahead of Germany ($3.35T), France ($2.68T) and the U.K. ($2.18T) (GULF NEWS, 6/19).
National Rugby League Newcastle Knights' immediate future "appears safe," with Australian billionaire Nathan Tinkler's A$10.3M ($9.6M) club bank guarantee remaining despite the sale of his interest in Whitehaven Coal, according to Robert Dillon of the SYDNEY MORNING HERALD. Wednesday's revelations "that the embattled Hunter Sports Group had exited his coal company sparked speculation about the future of his two football flagships, the Knights NRL club and the A-League's Jets." An NRL spokesperson said that rugby league's "governing body was 'monitoring' the situation." Knights CEO Matt Gidley said that "the sale of Tinkler's shares would not affect the Knights." Gidley: "The sale of shares in Whitehaven at a 40 percent premium is a positive for everyone and will have no impact on the Knights nor Nathan's commitment to the team and Newcastle." Football Federation Australia has been assured by the Hunter Sports Group that it is business as usual for the Newcastle Jets (SMH, 6/20).
Welsh Rugby Union CEO Roger Lewis said that the home nations "need to look at how the money made from the British and Irish Lions tours is divided up," according to the BBC. The Lions are "currently on a tour of Australia, culminating in a three-Test series against the Wallabies." Lewis claims that hosts Australia "will bank most of the income generated by the nine games they host." Lewis: "This is the subject of much debate at the moment, in terms of the monies generated by the Lions. The majority, by a country mile, of the revenue generated goes to the host country, so in this case it's Australia. For the home unions, the shareholders of Ireland, England, Scotland and Wales, the numbers are relatively modest." The Lions tour of Australia is "reportedly expected to generate" £40M ($62M) for the Australian Rugby Union, while the Lions are expected to share a pot of £6M ($9M), generated largely by sponsorship. All the profits made by the Lions "are shared by Ireland, England, Scotland and Wales" (BBC, 6/19).