SBD Global/June 20, 2017/Finance

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  • Men, Women Receive Equal Prize Money In 83% Of Sports, Football Retains Largest Gap

    Eighty-three percent of sports "now pay men and women the same amount in prize money, research has revealed," according to Alistair Tweedale of the London TELEGRAPH. A study conducted by the BBC into 68 different sports shows that the pay gap "has narrowed vastly in recent years, with rewards in women's sports on the rise." However, football retained a "huge disparity" between prize money for men and women, "particularly in the difference between the Premier League and the Women's Super League." Of the 68 governing bodies contacted, 55 responded to researchers and of those, 44 sports pay prize money. Two of those sports (synchronized swimming and nordic combined) "see men and women compete alongside each other," and of the remaining 42, 35 "pay prize money in equal measures" -- making up 83%. The last time this study was carried out, in '14, 70% of sports "boasted equality in terms of prize money." As recently as '73, "not one sport rewarded men and women equally." The team that finishes top of the Women's Super League is "currently given no winnings whatsoever," while Chelsea received £38M ($48.4M) for winning last season's Premier League title. Real Madrid was given £13.5M ($17.2M) for winning the Champions League, while Women's Champions League winner Olympique Lyonnais gained "just" £219,920 ($280,000). The women's World Cup winners receive £2M ($2.55M), while the men win £35M ($44.6M). Golf and cricket also had a "significant gap" between the genders, with the male winner of the U.S. Open pocketing £1.8M ($2.3M) -- or twice as much as his female counterpart (TELEGRAPH, 6/19).

    Print | Tags: Finance, United Kingdom
  • Tax Authorities Reviewing Real Madrid's Fiscal Situation, El Confidencial Digital Claims

    Spanish publication El Confidencial Digital reported Spain's tax authorities launched a "meticulous review" of Real Madrid's fiscal situation, according to MUNDO DEPORTIVO. Sources close to the tax authorities said that the club is being investigated for "income tax since Jan. '15; IVA since July '14 and corporate tax since '14-15." The club's statement last week supporting Cristiano Ronaldo, who faces tax fraud accusations, "caused indignation" among the tax authorities. A source said, "[Real] Madrid and [club President] Florentino [Pérez] have gone too far in their reaction" (MUNDO DEPORTIVO, 6/19).

    PÉREZ RE-ELECTED: ESPN.com's Samuel Marsden reported Pérez will "remain as Real Madrid president for another four years after no other candidates stepped forward to run against him." He called an election on June 8, with June 18 "the deadline for prospective opposition candidates to announce they would compete for the presidency." Not one club member "decided to launch a campaign during that 10-day period, though." Pérez was first elected in '00 (ESPN.com, 6/19). In Madrid, Elsa Martín reported Pérez has spent over €1B ($1.1B) to "help bring in 19 titles." Since he came to the presidency in the '00-01 season, only Ramón Calderón (from '06-09) has "punctured" Pérez's reign at the club. To date, he has invested a total of €1.31B ($1.46B). Seven of the 19 titles were won in his first term -- from '00-01 through '05-06 -- and 12 more have arrived since '09-10 (MARCA, 6/19).

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  • Finance Notes: Constantin Medien Considering Selling Sport1

    German media company Constantin Medien is "considering selling all shares in sports TV broadcaster Sport1 and advertising sales agency Sport1 Media held by its wholly-owned subsidiary Constantin Sport Holding." Constantin Medien is therefore "conducting a structured and competitive bidding process with several potential buyers in view of such sale." The company said that conditions for the possible sale have not yet been determined and will be "thoroughly examined by the management board before its decision." Discussions are reportedly "underway with Axel Springer and Sky Deutschland regarding the sale" (BROADBAND TV NEWS, 6/17).

    Nike announced it "will cut 2% of its global workforce as part of sweeping changes to its corporate structure." Around 1,400 staff are "expected to be affected by the cuts," which were revealed in the company’s detailing of its "consumer direct offense," a new initiative designed to "get more products into the hand of consumers faster." The new alignment is "aiming to drive growth by accelerating innovation, cutting product creation cycle times in half and increasing the focus on serving key cities" (THE DRUM, 6/15).

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