Middlesex County Cricket Club is "set to hold talks" with the England & Wales Cricket Board to discuss its "serious concerns" that the new domestic T20 competition could deprive the club of "hundreds of thousands of pounds" because it does not own its ground. As part of the tournament plans, which is set to start in '20, "new teams will be owned and controlled by the first-class counties." Further details have emerged that grounds which host one of the 36 matches will be paid a staging fee of about £75,000 ($93,700), "with the ground also able to keep the profits from food and drink sold at the match." Ticket and merchandise revenue would go to the franchise rather than the ground. Because Middlesex rents Lord's from Marylebone Cricket Club it "would not receive any staging fees or concessions profits" and the club believes that "immediately" puts it "at a disadvantage" (LONDON TIMES, 2/9).
Saudi Arabia's Jadwa Investment, one of the country's largest privately-owned investment banks, has been appointed to "advise on the privatisation of as many as five soccer clubs in the Saudi Professional League." Banks had been "asked to apply for the role last month," a source said, declining to be named because the matter is not yet public. Spokespeople for Jadwa and the Saudi government's General Authority of Sports were not immediately available to comment. Last November, the government approved "plans to turn state-owned sports clubs into private companies" (REUTERS, 2/8).
Finnish sporting goods company Amer Sports, the maker of Wilson tennis rackets and Salomon skis, "reported fourth quarter sales and operating profit below market expectations as it felt the effects of retail bankruptcies" in the U.S. Amer said that it would start a new "cost-cutting" program in response to "difficult market conditions." Fourth-quarter sales were down 2% in local currencies year-on-year (REUTERS, 2/9).
Sports Direct is at the center of "yet another controversy" after reports that it failed to tell its 30,000 employees that "their personal data had been accessed" during a cyber attack in September. A hacker stole names, email and postal addresses and phone numbers, according to technology publication The Register (LONDON TIMES, 2/9).
