Wimbledon announced an increase in prize money in an "attempt to offset the losses the world’s best tennis players face as a result of the fall in sterling following last year’s Brexit vote." The overall prize fund for this summer's tournament will increase by 12.5%, to £31.6M ($41M), compared with last year. The winners of the men’s and women’s singles title will each receive £2.2M ($2.8M), a 10% increase on last year. The players who exit in the first round of the singles competition will be paid £35,000 ($45,200) this summer -- a 16.7% increase from last year (FINANCIAL TIMES, 5/3).
Serie A side Juventus shares "jumped at the Milan opening" after the club beat Monaco in the first leg of the Champions League semifinal, "highlighting" a more-than-200% rally for the stock this year. Juventus rose as much as 8.7% to €1.03 ($1.13), "bringing the company near its highest level" since '02 and giving it a market value of €970M ($1.1B). The shares of the club later erased its gains to trade down 1.2% at 94 cents at 11:12am (BLOOMBERG, 5/4).
Adidas "reported a big leap in sales" in the U.S., outpacing gains by rival Nike. Stripping out currency changes, adidas sales rose by 31% in the first quarter, "compared with Nike's rise of 3% for the three months to the end of February." The boost was "spurred by a marketing push in North America." Sales in Greater China jumped by 31% compared with Nike's 15% rise. Overall, adidas saw sales rise by 16% (BBC, 5/4).
Revenues at Ladbrokes Coral were "held back by a fall in wagers at its high-street betting shops as gamblers shift to online platforms." The gambling company said that net revenues rose 2% "on a constant currency basis in the year to April 23." Revenues from online gambling grew 18% (FT, 5/4).
Sports Direct's corporate governance record was "dealt another blow after its sole female board member resigned with immediate effect." The "shock departure" of Claire Jenkins comes despite the non-exec defending the company's "open" board meetings last year and saying that the negative publicity around its treatment of workers was a "kick in the stomach." However, it is understood that Jenkins "handed in her notice after believing that her independent voice was no longer being listened to by the board" (London TELEGRAPH, 5/4).
