Hangin' With ... John Postlethwaite FIGC Reveals 'Plan' To Save Parma More Than 4.5M Watch German Cup Executive Transactions Inter Plans $77M Renovation Of San Siro Almaty To Save $500M In '22 Games Bid Marussia Aims To Be Ready For Aussie GP Adidas Expects 'Robust' Sales Growth Scotland Bids To Host 2019 Solheim Cup German GP Fate Decided This Weekend
SBD Global/July 16, 2014/FinancePrint All
Bundesliga side Hertha Berlin will reportedly get a €5M ($6.8M) windfall, according to Katharina Metag of BILD. A wealthy businessman from Hong Kong "is reportedly interested in investing in the club." Talks between the businessman and the club "are reportedly well advanced." The club generated about €80M ($109M) over the past several months "through the investment of a new strategic partner, global investment firm KKR, and the sale of strikers Adrian Ramos and Pierre Lasogga." KKR "was also the one that established the initial contact between the club and the businessman." Hertha GM Michael Preetz explained the club's "current positive financial situation" by saying, "Important was the strategic partnership with KKR which completely changed our liabilities. We are now economically sound" (BILD, 7/15).
Thanks to "strong growth in all its territories and a fillip from the World Cup," sports betting and gaming group GVC Holdings reported "record trading for a second successive quarter," according to Nick Wilson of the FINANCIAL TIMES. The "Aim-listed company reported on Tuesday that its total net gaming revenue" of €54.8M ($74.4M) was 11% higher than the second quarter last year and 8.9% more than the "preceding quarter." GVC CEO Kenneth Alexander said that the group had "seen strong growth over all our territories." He added that the World Cup had "obviously been a big help for us." Alexander: "It's a big opportunity to recruit new customers. It also fell in a period which would normally be quite quiet." The company said that the World Cup was "expected to leave a legacy of greater market penetration, significantly more customers and a stronger and more diversified revenue base" (FT, 7/15).