SBD Global/July 9, 2013/Finance

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  • Liga MX Side Atlas President Eugenio Ruiz Orozco Admits To Club's Financial Difficulties

    Liga MX Atlas President Eugenio Ruiz Orozco "announced the urgent need to transform the club's structure," according to INFORMADOR. Ruiz Orozco: "I wish things were not like this, but the players are right, this organization has not covered payments from May, June and this part of July, in addition to individual and group loans" (INFORMADOR, 7/7). SOCCEREX reported Atlas players "refused to travel to Torreon" for Saturday's preseason friendly against Santos Laguna owing to a dispute over missing wages. Atlas "also had problems paying its players last season." Ruiz Orozco said, "We can't keep going like we are. We have to break the mold, do things differently. Atlas is an asset for the city that is at risk of being lost. Atlas has to keep going. It's about to reach 100 years (in '16). Atlas must be saved" (SOCCEREX, 7/8).

    Print | Tags: Finance, North America
  • Financial Struggles Force Indoor Football Club Caja Segovia Out Of Spanish First Division

    Spanish indoor football club Caja Segovia has announced that it "will not compete at the highest level of Spanish indoor football after it did not find the economic resources necessary to form a new project," according to the EP. The club said in a statement, "After 32 years, the most prize-winning team in Segovia and Castilla and León will no longer exist. If no one solves this, the club will not compete in the first division of Spanish indoor football." The problems did not emerge at the end of the season, as they "have instead been a constant headache." Spanish indoor football "will not be the same without the Segovian club" (EP, 7/8). EL NORTE DE CASTILLA reported the club "will continue at another level, on a lower profile, but not in the First Division" (EL NORTE DE CASTILLA, 7/8).

    Print | Tags: Europe, Finance
  • With One Meeting Left, Hong Kong Jockey Club Has More Than $12B In Season Turnover

    The Hong Kong Jockey Club has revealed a season turnover high of HK$92B ($12B) with one meeting left, according to Alan Aitken of the SOUTH CHINA MORNING POST. The "high-water mark for turnover" came in '96-97 at HK$92B before a decade of post-handover decline, but the resurgence since betting duty reforms in '06 "has seen the numbers back on an upward trajectory" and Jockey Club CEO Winfried Engelbrecht-Bresges said a new record will be set this term. Engelbrecht-Bresges said, "We will deliver the full figures after Happy Valley, but we have already topped HK$92 billion for the season -- an increase of 9% -- and I'm sure we will put a smile on every face in the government, which will receive a HK$1B ($130M) billion increase [in duty]." Gongs "were handed out for everything." Triple Group One winner Military Attack was named Horse of the Year as well as the Most Popular Horse. Sprinter Lucky Nine and miler Ambitious Dragon took divisions, while stayer California Memory claimed his first Champion Award (SOUTH CHINA MORNING POST, 7/8).

    Print | Tags: Asia, Finance
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