SBD Global/June 24, 2014/Franchises

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  • Spanish Basketball League Side Manresa Has One Week To Raise Remaining $126,000

    Spanish Basketball League (ACB) side Manresa is "entering the final stretch" to raise the total of €300,000 ($408,000) that will be required for the club "stay in the top category," according to the EFE. The club, which has already raised €207,000 ($281,000), still needs to raise nearly €100,000 ($136,000) more by June 30 to "stay in the ACB for another season." The club's sale of its shares -- for €60 ($82) per unit -- and the advanced pay it has received from one of its sponsors has allowed Manresa to "cover payments owed to Spain's tax authorities, social security and its players." Manresa President Josep Vives said, "It is like playing a finals, in which you cannot consider losing. We are not wasting a single second thinking we will not reach this. If by [next] Monday our continuity in the ACB is confirmed, we will be able to safely plan for next season" (EFE, 6/23).

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  • Red Bull F1 Team Principal Christian Horner Calls For Change At Engine Partner Renault

    Red Bull F1 "called for change at engine partners Renault" after an "unacceptable" performance in Sunday's Austrian Grand Prix, according to Alan Baldwin of REUTERS. Four-time world champion Sebastian Vettel "retired from the race at Spielberg with an electronics problem, his third failure to finish this season due to an issue with the new V6 turbo hybrid power unit." Red Bull Team Principal Christian Horner said, "The reliability is unacceptable. The performance is unacceptable. There needs to be change at Renault. It can't continue like this. It's not good for Renault and it's not good for Red Bull." Renault Sport F1 Deputy Managing Dir Rob White said that the French manufacturer, which "started the year well behind Mercedes on performance," knew what "had to be done and progress was being made." White: "The anxiety that Christian feels, and the frustration he feels after a result that is not at the full potential of the performance of car and power unit, is completely understandable and shared by us" (REUTERS, 6/23).

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  • NZ Economic Development Minister Speaks Out In Support Of Team NZ's Grant Dalton's Salary

    New Zealand Economic Development Minister Steven Joyce said that if Team New Zealand Managing Dir Grant Dalton "wasn't getting paid" his A$2M ($1.9M) salary, the country "would face another Russell Coutts scenario," according to Brendan Manning of the APNZ. Joyce said that while "the Government was keen for Team New Zealand to source its own sponsorship in the interim, he was open to future America's Cup campaign backing." Joyce: "My understanding is that they are close to having done that. We're also still prepared to look at the sponsorship overall and determine how much that would be. In terms of the costs of things, including key personnel, including Dalton -- the reality is that we all know that these guys are competed for on the world stage and they get paid salaries which are out of the reach or understanding of most New Zealanders." Joyce added that the NZ government would assess "any future sponsorship deals based on what was proposed by the team and whether there were any real benefits for New Zealand" (APNZ, 6/23).

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  • Super Rugby Side NSW Waratahs' League License To Be Awarded On Friday, ARU Says

    The Australian Rugby Union is "expected to decide which consortium will be awarded" Super Rugby side New South Wales Waratahs' league license on Friday, with a "mystery bidder joining the race," according to Bret Harris of THE AUSTRALIAN. A consortium led by former Wallabies and Waratahs coach Bob Dwyer has "publicly stated its intention to bid for the licence, while another bid is believed to be led" by Waratahs sponsor Pet Resorts founder David Levy. A third consortium reportedly "expressed interest in the licence before pulling out only to be replaced by another bidder." The ARU and the NSW Rugby Union met on Monday with the third group, "believed to be a community-based organisation, with a view to making a decision by the end of the week." At this stage the Levy-led group "is believed to be favourite" (THE AUSTRALIAN, 6/24).

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