Clubs Fight To Hold Onto EPL Riches Close To 1.5M Watch Heavyweight Fight West Brom Takeover Moves Closer Executive Transactions Schalke Looking To Extend Gazprom Deal Thai Businessman Only Wants AC Milan ACT To Investigate Multi-Sport Ticket Names In The News Anurag Thakur Slams ICC Chair Srinivasan Canal+ Acquires America's Cup Rights
SBD Global/July 25, 2013/FranchisesPrint All
EPL side Cardiff City FC Owner Vincent Tan said that the team "has reached a deal over its long-standing debt with Langston," according to Nick Servini of the BBC. The debt to Langston -- whose spokesperson is former Cardiff City Owner Sam Hammam -- was taken out in '04, and is thought to be about £24M ($37M). Tan has previously said that an agreement with Langston "would pave the way to the club becoming debt-free" (BBC, 7/23). The BBC's Mai Davies reported Cardiff City fans "are calling on the club's owner to reveal more details about a deal to settle £24M in debts to creditors" Langston Corp. Trust Chair Tim Hartley said that "more transparency was needed about the arrangement to explain to fans what exactly has been agreed" (BBC, 7/23).
BRIGHT FUTURE: WALES ONLINE's Carl Curtis commented Tan and Hammam reached agreement and "suddenly the future looks bright." There are those who "will argue against Sam returning, but he is back as life president and overall the deal paves the way towards a debt-free club." A long-standing debt "has finally been resolved." That is "a reason to celebrate." Tan made promises when he rebranded the club and so far "he is delivering." Tan has helped the club to achieved EPL status, work will start on the stadium expansion in October a brand new training ground facility is on the way and now he has settled a large debt (WALES ONLINE, 7/24).
Indonesian billionaire Erick Thohir "is close to clinching a deal" to buy a majority stake in Inter Milan, according to Agnieszka Flak of REUTERS. Citing a source with knowledge of the talks, Thohir and Inter Milan Owner Massimo Moratti "have been in talks about a potential deal for months." The source said that "Thohir expected to conclude a deal before the start of the Italian Serie A club season," which kicks off on Aug. 24. The source said, "They are still negotiating, but expect to finish the deal before Serie A starts." Daily La Repubblica said on Wednesday that Thohir may have offered up to €350M ($463M) for a 75% stake in the club, while sports paper La Gazzetta dello Sport previously mentioned a figure of about €300M ($395M). The two papers said that "Thohir would be heading to Milan in the next few days," although neither Moratti nor the 43-year-old Indonesian media and entertainment magnate could be reached for comment. Thohir, asked about previous reports he had agreed to pay €300M for a 75% stake in the club, said in a text message, "Not yet, wish me luck" (REUTERS, 7/24).
Man City has "launched a probe after Internet fraudsters posed as the club in a bid to scam the public," according to Mike Keegan of the MANCHESTER EVENING NEWS. Emails "have been sent out to various addresses telling recipients that they have won" £1M ($1.5M) from "Abu Dhabi, Manchester City promotion 2013." The messages "ask the six ‘winners’ to email a club address in Abu Dhabi, home of City’s wealthy owners, and provide a serial number." When informed of the emails, Blues officials "confirmed that it is a con and that they are looking into the matter." One of the recipients, who asked not to be identified, said, "It is no secret that the owners of City are very rich, so it wouldn’t be beyond the realms of possibility for them to run a lottery like this, even if it is unlikely. I suppose the old adage applies -- if it is seems too good to be true, it probably is" (MANCHESTER EVENING NEWS, 7/24).
Starting at the conclusion of this season, BMW Motorrad will terminate its factory involvement in the FIM Superbike World Championship. BMW Motorrad's resources and commitment will switch to other motorsport activities like the int'l customer sports program starting in '14. BMW Motorrad General Dir Stephan Schaller said, "BMW Motorrad will remain involved in motorsport and in doing so we will focus on the int'l customer sport in all its facets" (BMW). ... With the National Rugby League Cronulla Sharks in the grip of a full-blown Australian Sports Anti-Doping Authority investigation, "officials can take solace in the fact that the club's long-suffering fans have rallied like never before." NRL statistics highlighted that "the Sharks have recorded an unprecedented increase in membership." For the first time in the club's history, "membership has passed the 10,000 mark" (THE AUSTRALIAN, 7/25).