Cricket Australia is "open to part" with its multi-million-dollar TV revenue from India tours to Australia as part of a "collective effort to preserve the financial health of the global game." Cricket Australia CEO James Sutherland declared the Australian Board’s willingness to "divert a part of its overseas revenue from India tours to Australia," which is worth up to $100M extra to CA’s annual balance sheet, "to be shared among all members." He said, "You have to have a belief in the broader context and you’ve also got to see the big picture. I think together with pretty well all other countries right now we see that bilateral cricket is very much our core business and it’s really important that it continues to be popular" (PTI, 7/4).
Ferrari Team Principal Maurizio Arrivabene "is comfortable with the latest F1 money distribution shares" having already secured its own deal with F1 CEO Bernie Ecclestone until '20. Ferrari is expected to receive an estimated $192M in total this year from its involvement in F1, "the highest of any team on the grid," which is added up from the teams' championship results, constructors' championship bonus and its long-standing "heritage" payment from the F1 commercial rights holder. With smaller teams "demanding a fairer split in prize money Ferrari could see its share in money slightly reduced" but Arrivabene is satisfied the deal Ferrari has in place with F1 ensures the Italian manufacturer "remains in a strong financial position." He said, "We feel very comfortable because the commercial rights holder signed a contract with us and the contract is there" (CRASH, 7/5).
Shimano Europe agreed to acquire Belgian helmet brand Lazer Sport NV. After clearance from authorities, the acquisition "is expected to close in the second half of this year, Shimano said." Lazer was founded in 1919 and claims to be the world's oldest helmet company (BICYCLE RETAILER, 7/1).
