SBD Global/December 31, 2013/Finance

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  • Ecuadorean Football Side El Nacional's Debt Reaches $3.2M Due To Costly Player Salaries

    Ecuadorean football side El Nacional's "financial crisis is evident" in the club's current debt, which has reached $3.2M, according to EL UNIVERSO. This "figure does not take into account the club's debt with Ecuador's Social Security Institute and the country's IRS." Players "expressed on multiple occasions in '13 their anger regarding a lack of payment." The team's captain, Marwin Pita, "said that he is owed eight months' of salary." For '13, El Nacional "had 25 players signed to contracts" (EL UNIVERSO, 12/30).

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  • Autopsy Conducted For Black Caviar Half-Brother Jimmy As Investigation Continues

    An autopsy "has been conducted on the body of Black Caviar's half-brother Jimmy to determine the cause of the illness" that led to the A$5M ($4.6M) thoroughbred being put down, according to Bartley & Butler of the SYDNEY MORNING HERALD. Meanwhile, "investigations into the colt's former owner Bill Vlahos are continuing." Vlahos' trustee in bankruptcy "is preparing to trace the proceeds of the racing identity's failed punting club The Edge as Racing Victoria investigators and company administrators trawl through the books and records" maintained by Vlahos' BC3 Thoroughbreds. Racing Victoria's investigation into BC3 "is likely to prompt a shake-up of rules governing how investors buy shares in racehorses." Autopsy results "will not be available until pathology tests have been done." This "could take weeks because of the holiday break." Melbourne University Equine Hospital associate professor Chris Whitton said, "All horses here that are insured have autopsies carried out" (SMH, 12/31). In Melbourne, Drill, Rule & Stewart wrote Racing Victoria Integrity Services GM Dayle Brown said that "the investigation into BC3 was continuing." Brown said, "The scope of our investigation into BC3 Thoroughbreds and the operation of its racehorse ownership business is broad. We are not at this time specifically investigating any treatments which may have been administered to Jimmy" (HERALD SUN, 12/29). 

    Print | Tags: Finance, Australia
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