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Finance Notes: Brasileiro Side Santos' Accounts Bleeding Red

Brasileiro side Santos, "one of the world's most iconic football clubs and the home team of Pele and more recently Neymar, is facing the battle of its life, perhaps even for its life." With expensive player acquisitions, "dwindling attendances and 2015 TV money already spent, the club is in a desperate financial position" despite currently sitting in seventh place in the league. Monday mornings "bring new headaches for the management of Santos as they struggle to pay their weekly bills." Reliant on match day revenue, their income is "below their expenditure and it is eating into their financial reserves" (INSIDE WORLD FOOTBALL, 10/23). ... The 2014 World Cup revitalized U.K. bookmaker Ladbrokes, helping it "deliver a near doubling in third-quarter operating profit." Under "pressure from its investors over its digital performance and its trailing of rivals including William Hill, Ladbrokes began to get its act together" with a 13% increase in "net revenues in the three months" to Sept. 30. This "piloted a rise" of 94% in operating profit, which rose from £17M in the '13 third quarter to £33M ($53M) (FINANCIAL TIMES, 10/23).

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