Gold Coast Fined For Salary Cap Breach Marketing Symposium: Global Sports Events Pacquiao Makes Pro Basketball Debut Executive Transactions West Indies Women Focused On Cricket Real Zaragoza Granted Meeting Swimming Australia Guarantees Bonuses SA Denies Interest In Hosting AFCON London Olympic Stadium Costs Soar IOC Seeking Bid Cities For 2024 Games
SBD Global/April 11, 2014/FinancePrint All
For six weeks, cricket’s leading players "get to live like the stars of other world sports," according to Paul Radley of THE NATIONAL. Top-bracket Indian players earn about $200,000 annually. For the same amount of time in the Indian Premier League, Yuvraj Singh, who "fetched the highest price of any player in the most recent auction," will earn $1.5M -- 100 times more. It "is not far behind the stars of other sports." After his lucrative summer transfer, Gareth Bale reportedly earns about $2M per month playing football for Real Madrid. The IPL market "significantly exceeds anything offered by the other T20 leagues and is a world away from what cricket could offer before the IPL’s inception in 2008." The contracts that began this season "are guaranteed for only one campaign, but the franchises have the option of retaining the players for up to three seasons." While for the game’s biggest stars the IPL "means the rich get richer, for players of middling repute success," an auction can be life changing (THE NATIONAL, 4/9).
After Barcelona's elimination from the quarterfinals of the Champions League, the club will lose at least €4.9M ($6.8M) that it would have received from UEFA for qualifying for the Champions League semifinals, according to the EFE. Additionally, had the "club competed in the Champions League finals," it would have earned €10.5M ($14.5M) with a win or €6.5M ($9M) with a loss. It "is worth remembering that the last time Barcelona won the Champions League -- the '10-11 season -- the team's players and coaches collected a total" of €27M (EFE, 4/10).
Gucci CEO Francois-Henri Pinault said that the fashion brand's owner Kering SA "will consider acquiring sports and lifestyle brands in three years as it assesses the performance of the Puma label," according to BLOOMBERG. Any deal "will hinge on Kering’s ability to reverse the fortunes of Puma," which has been undertaking a reorganization since '09. Pinault, who’s also Kering’s chairman, said that "he's 'convinced' the Paris-based company should have a sports- and lifestyle-oriented business." Pinault: "When you look at the next 20, 30 years in terms of economic development of the world, the key markets are young people very much attracted by brands, very much aware of the health issues, attracted by sports. Luxury and sports are structurally, over a long period of time, growing markets." Pinault said that the French company will spend €70M ($97M) "to strengthen Puma under a new slogan of 'Forever Faster.'" The 51-year-old also "ruled out selling" Puma. He said, "The portfolio of our sports brands is not finished. We’ve started it but, until Puma is on track, we won’t make any acquisitions." Pinault said that the first signs of the marketing campaign’s success "will come in September and October, when wholesale orders are taken" (BLOOMBERG, 4/10).
The Football League has declared "considerable progress" after meeting Championship clubs to discuss Financial Fair Play regulations, according to the BBC. A league spokesperson said there had been talks on "improvements" to the rules. Among the issues raised at the meeting "was a concern that increased Premier League parachute payments could distort competition when allied to the FFP rules." Clubs relegated from the top flight receive £60M ($101M) in payments over four years, a figure increased from £48M in '13. A number of Championship clubs "have expressed concerns about the FFP rules." Watford CEO Scott Duxbury said last Friday that, although he agreed with the ethos of FFP, the rules "needed adapting." Ipswich Manager Mick McCarthy said last month that "he expected a number of clubs to fall foul of the regulations" (BBC, 4/10).