Ligue 1 side
Olympique Lyonnais announced it “
received the rest” of the
€100M ($106M) investment promised by its new Chinese minority shareholder
IDG. After the €30M ($32M) the club received in December, IDG completed its investment, according to major stakeholder OL Groupe. IDG now owns 20% of OL’s capital (
L’ÉQUIPE, 2/27).
Former EPL side Leicester City Manager Claudio Ranieri is ready to receive a £3M ($3.7M) pay-off "after being axed just six months into a new four-year contract." The sacking came nine months after the Italian defied 5,000/1 odds to guide the club to a "shock title success." Ranieri was "rewarded with a bumper new double-your-money deal in August" that earned him £3M per year, and the 65-year-old is "in line to receive 12 months' money as part of his severance package" (London DAILY MIRROR, 2/24).
League Championship side Wolverhampton Wolves "reported a pre-tax profit" of £5.8M for '15-16, the club's final season under former Owner Steve Morgan. Home attendances "fell by 10% in the club's second season back in the Championship," as it "slipped" from the previous year's seventh-place finish to 14th. But the sale of Benik Afobe to EPL side Bournemouth for a reported fee of £10M "helped Wolves achieved a profit" (BBC, 2/28).
Tyrone Gaelic Athletic Association will "have to pay an extra" £130,000 ($161,317) on its loan for its Centre of Excellence in Garvaghey because of Brexit. The additional costs come because the loans for the "superbly appointed" £7M ($8.7M) base "were taken out in euro," and with the fall in value of sterling against the euro since last June the costs are to rise by €155,000 ($192,339). The Garvaghey loan stands at £1.23M ($1.53M). Club Tyrone generated just over £286,000 ($354,897) for the county in '16, or 21% of its overall income, which was £1.38M ($1.7M) (IRISH INDEPENDENT, 2/28).
