Land Rover, Glasgow Warriors Sign Deal Jockey Club Posts Record Turnover, Profit Sky Launches 'Now TV' In Ireland ECB Approves City-Based T20 Tournament CA Questions ACA's Ability To Negotiate Deal AOC Will Submit To Independent Review HMRC Raids Newcastle, West Ham Sky Sports To Have EPL Finale To Itself Lions Tour Will Be Cut, Premiership Says Executive Transactions
SBD Global/April 23, 2014/FinancePrint All
F1 profits fell by $137M to $286M on an underlying basis last year, "driven by accelerating payments under a new deal with the sport’s 11 teams," according to Christian Sylt for the London TELEGRAPH. The teams’ prize money increased 6.1% in '13 to a record $798M, "making it the single biggest cost for F1’s Luxembourg-based parent Delta 2." Further pressure was put on F1’s bottom line by a new agreement with motorsports governing body FIA "that upped the annual fee it receives four-fold" to an estimated $40M. There "was also less money coming in to pay it as the cancellation of a Grand Prix in Spain led to the drop in Delta 2’s revenue." F1 paid $459M of non-cash inter-company loans, giving it a pre-tax loss of $282M on turnover which fell 4.3% to $1.3B (TELEGRAPH, 4/21).
Defending Champions League champion Bayern Munich "is looking forward to additional income," according to the DPA. Advancing to the Champions League final "would put additional millions in the club's coffers." Therefore Bayern Munich "could earn more than last year." The club would receive €6.5M ($9M) for getting past Real Madrid and advancing to Lisbon, which will host the final on May 24. The winner of the final will get €10.5M ($14.5M). So far, Bayern Munich has earned €25.9M ($35.8M) in bonuses from UEFA. This number "does not include double-digit millions from both the 'market pool' and ticket sales from six home games." Last season, the club earned a total of €55.05M for its Champions League victory (DPA, 4/22).
Polish first division football club Legia Warsaw "could launch an initial public offering" on the Warsaw Stock Exchange in the few next years, according to Jaroslaw Adamowski of INSIDE WORLD FOOTBALL. Legia Warsaw majority shareholder Dariusz Mioduski said that the IPO "is one of the considered options of acquiring new funds for business development." Mioduski: "We could think about this in a few years, but obviously, in business, just like in sports, you cannot plan everything in a very detailed manner. We are also thinking about other forms of financing the club" (INSIDE WORLD FOOTBALL, 4/22).