SBD Global/October 29, 2013/Finance

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  • League One Side Carlisle United Posts $1.1M In Losses After 'Difficult Year'

    League One side Carlisle United has posted losses of more than £660,000 ($1.1M) in its "latest set of accounts," according to FC BUSINESS. It has been a "difficult year for the club both on and off the field." The struggles on the field "have brought an equal and direct effect on the club’s business," with turnover decreasing from £4.33M ($7M) to £3.54M ($5.7M) -- a reduction of £780,000 ($1.26M). The operating loss seen in '11-12 of £124,329 has increased to a trading loss of £492,464 for '12-13. The company is posting a total loss of £666,257 after "amortisation and depreciation" for the year '12-13. This has led to a "decrease in net assets" from £3.12M ($5M) to £2.45M ($4M) on June 30, prompting the "need to introduce funds from some of the directors during the year to maintain the cash flow and continue operations" (FC BUSINESS, 10/28).

    Print | Tags: Finance, United Kingdom
  • Malaysian Billionaire, EPL Cardiff City Owner Vincent Tan Considering Initial Public Offering

    Malaysian billionaire Vincent Tan is in talks with investment bankers in a lead-up to an initial public offering of his English Premier League club Cardiff City.

    The listing of the football club is likely in the second half of next year, say industry sources.

    The Straits Times understands that Mr Tan, 61, who bought the club three years ago when it was on the brink of insolvency, is mulling over a possible listing venue.

    He is looking at two options: to list on home turf on Bursa Malaysia which is largely dominated by big state-owned funds and domestic investors, or pitch the offering to a wider investor base on the Singapore Exchange.

    - See more at: http://business.asiaone.com/news/malaysian-tycoon-may-list-epl-club-here#sthash.zZPjhkbQ.dpuf

    Malaysian billionaire Vincent Tan is in talks with investment bankers in a lead-up to an initial public offering of his English Premier League club Cardiff City.

    The listing of the football club is likely in the second half of next year, say industry sources.

    The Straits Times understands that Mr Tan, 61, who bought the club three years ago when it was on the brink of insolvency, is mulling over a possible listing venue.

    He is looking at two options: to list on home turf on Bursa Malaysia which is largely dominated by big state-owned funds and domestic investors, or pitch the offering to a wider investor base on the Singapore Exchange.

    - See more at: http://business.asiaone.com/news/malaysian-tycoon-may-list-epl-club-here#sthash.zZPjhkbQ.dpuf
    Malaysian billionaire Vincent Tan is "in talks with investment bankers in a lead-up to an initial public offering of his English Premier League club Cardiff City," according to Anita Gabriel of the STRAITS TIMES. Industry sources said that the listing of the football club is "likely in the second half of next year." Tan, 61, bought the club three years ago when it was on the brink of insolvency, and is mulling over a "possible listing venue." He is looking at "two options: to list on home turf on Bursa Malaysia which is largely dominated by big state-owned funds and domestic investors, or pitch the offering to a wider investor base on the Singapore Exchange." If it "pans out as scheduled, Cardiff City's stock offering will take place two years after that of a much bigger football club." An analyst said, "Obviously, one can't compare to ManU which is a global brand, whereas Cardiff is truly just a football club and not a giant enterprise" (STRAITS TIMES, 10/27).

    Print | Tags: Finance, Asia
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