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SBD Global/August 22, 2013/FranchisesPrint All
The licensing chapter of German professional basketball club Dusseldorf Baskets "has found an inglorious ending after the second league stripped its license," according to Thomas Schulze of RP ONLINE. Previously, the club, whose team competitively qualified for the Basketball Bundesliga (BBL), "was denied a license for the top flight." The club "has the opportunity to appeal the second league's decision" -- first through an external reviewer and later in front of an arbitration court. The club's "insufficient economic performance has been an issue over the past several years" (RP ONLINE, 8/21).
Scottish League 1 Rangers said that former Dir Imran Ahmad "has sold his shareholding in Rangers, the day after the exit of business partner Charles Green," according to the BBC. The League 1 side told the London Stock Exchange that Ahmad "no longer has a notifiable interest in the company's issued share capital." Green "agreed to stand down as a consultant following opposition from fans and board members." Rangers' statement about his shares follows last week's news that "two separate blocks of one million shares were sold for £425,000 each." That "was in addition to Laxey Partners, an Isle of Man hedge fund, increasing its stake to 4.99%" (BBC, 8/21). THE SCOTSMAN reported while Green’s official connection with Rangers "has been cut, the former chief executive remains the biggest individual shareholder in the club" with a stake of more than 7%. Green, who fronted the consortium which bought Rangers’ business and assets from administrators Duff & Phelps for £5.5M when the club went into liquidation last year, "is 'locked in' to owning his shares until December under stock exchange rules." He "has already committed to transferring a small percentage of his holding to Isle of Man-based hedge fund managers Laxey Partners, and will offer the remainder to Sandy Easdale" (SCOTSMAN, 8/21).
National Rugby League side Penrith Panthers GM Phil Gould has "failed in a secret bid to buy A-League super club, the Western Sydney Wanderers," according to Phil Rothfield of the Sydney DAILY TELEGRAPH. The Panthers "recently lodged an expression of interest with UBS, the global financial services firm in charge of selling the club" for up to A$15M ($13.5M). A-League CEO David Gallop "immediately rejected the Panthers' interest, shutting down the potential for more conflict with his old rugby league arch-rival." Gallop said, "Why would we contemplate selling the Wanderers to a club from another code? And while we are posing these questions, why would a club from another code want to invest their money and build up a rival?" Penrith Panthers Group CEO Warren Wilson, who confirmed the club's interest, said, "Personally I can't believe soccer was silly enough to say no to us. They should have at least let us in the door and put a price on the table. We might have been the biggest bidder, yet they've shut it down" (DAILY TELEGRAPH, 8/21). In Sydney, Andrew Webster reported "some close to negotiations feared long-standing animosity" between Gould and Gallop "was at the heart of the matter." The "idea of relocating the Wanderers from their home base at Parramatta Stadium to Penrith was the deal breaker." There "is also an underlying fear the Wanderers could become a second cousin to the NRL side" -- which many consider to have happened with the Newcastle Knights and Jets since mining magnate Nathan Tinkler assumed ownership of both franchises. Gallop said, ''We have been clear from day one that we want to identify the right owners who will respect the culture of the Wanderers and the western Sydney football community." The Football Federation Australia rejection "is a blow for the Panthers Group in its bid to have a multi-purpose stadium built at Penrith" as part of plans for an A$850M sporting and leisure complex "in league heartland." Had the Panthers bought the Wanderers, it "would have provided sporting content during both winter and summer." The Panthers "are locked in a battle with Parramatta Stadium for stadium funding" (SYDNEY MORNING HERALD, 8/21).