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SBD Global/June 13, 2014/FinancePrint All
Based on insurable value, Germany has the most expensive team competing in the 2014 FIFA World Cup. Lloyd’s released research with the Centre for Economics and Business Research that ranks each team in the FIFA World Cup based on the collective insurable value of each country’s players. The total collective value is estimated at £6.2B ($10.5B). A snapshot of the research shows that Germany, Spain, England and Brazil "have the four most expensive teams in terms of insurable value and that the average insurable value of one England player is more than the entire Costa Rican team." It also indicates that Group G "is the toughest" -- with a combined insurable value of £1.2B ($2B) and Group C "is the easiest" -- with a combined insurable value of £340M ($572M) (Lloyd's).
Barcelona President Josep Maria Bartomeu announced that the club will "close this financial year" with profits of approximately €30M ($41M), which he said indicates that the club is "economically strong," according to J.M.D. of SPORT. Bartomeu said that "Barcelona has again become a winning, honest and transparent club." He called the '13-14 season "the most difficult in recent history." Bartomeu: "We have not even closed the 2013-14 season, but I can say that we will again have more than €500 million ($678M) in revenue. We expect to be in line with the budget and to close with benefits of around €30 million after taxes" (SPORT, 6/11).
Spain's tax authorities have issued a "preventive embargo" on Spanish second division side Real Zaragoza's right to participate in the Spanish Football League (LFP) due to the club's €1.92M ($2.6M) debt, according to the EFE. This embargo "creates another setback for the club's new shareholders." Former Zaragoza Owner Agapito Iglesias said when he sold his majority share in the club that "the new shareholders had agreed to contribute" the €8M ($10.9M) necessary for Zaragoza to "fulfill its agreements and assure its continuation." The group that now owns Real Zaragoza "has said on multiple occasions that it considers finding an investor indispensable to give the organization viability" (EFE, 6/11).
La Liga side Valencia lender Bankia President José Ignacio Goirigolzarri said on Thursday that "its recent agreement with new Valencia Owner Peter Lim is 'good' for Bankia, 'good' for Lim and 'phenomenal' for Valencia," according to the EFE. Goirigolzarri "called the deal 'great news' and indicated that it must be translated into contracts." He added that "Bankia's business plan will include a renegotiation of Valencia's debt." Goirigolzarri: "Obviously, no one is expecting someone to show up with a check and pay all of Valencia's debt" (EFE, 6/12).