A Spanish court has processed a legal motion filed by Miguel Zorío against La Liga side Valencia Owner Peter Lim. Zorío, the former Valencia VP who now leads the "Marea Valencianista" platform, is protesting "Valencia's capital increase in '15, which was carried out by Lim." The former club VP is alleging that "in reality it was a €100M loan operation by Lim so that Valencia would acquire players represented by agent Jorge Mendes, who is a friend of Lim's" (MARCA, 3/7).
The judge in charge of Spanish second division side Elche's bankruptcy process ordered the organization to pay a €4.1M ($4.3M) sanction imposed by the European Commission. The club was sanctioned by the EC in July "for aid it received in '10" (EFE, 3/6).
The £7B ($8.5B) "tie-up" between Paddy Power and Betfair has "reaped rewards, with cost benefits from the bookmaker’s merger helping to weather a rollercoaster year of sports results." The gambling group said that its business grew during the year, even though net revenues from its sports gambling arm were "marginally lower than normal expectations" because of "wild swings in fortunes" throughout '16. Paddy Power Betfair reported a £5.7M ($7M) loss for the financial year ending in December (FINANCIAL TIMES, 3/7).
