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Published in SportsBusiness Daily Global on 11 / 26 / 14

The Greek Super League elected Asteras Tripolis President GIORGOS BOROVILOS as president on Monday "after he secured 13 votes out of the 16 teams in the league," with Panthrakikos President DIMITRIS TZELEPIS elected as his deputy ( REUTERS, 11/25 ). ... The NBA announced that JAN MENNEKEN h...

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11/26/14
Spanish Football Federation In Conflict

Spanish Football Federation (RFEF) President Ángel María Villar "continues to want nothing to do with" Spain's Superior Sports Council (CSD), from which the RFEF "opted not to receive money from Spain's Quiniela lottery," according to Enrique Marín of EL CONFIDENCIAL. This "unpr ...

Tags: Europe, Finance

11/26/14
Finance Notes

Australian Football League side Collingwood announced a net profit of A$2.02M ($1.72M) for the financial year ending Oct. 31. It is the club's 14th consecutive profit and was generated largely off the back of record membership of more than 80,000 -- a club and AFL record. Collingwood carries no debt ...

Tags: Finance

11/25/14
Brazilian Football Clubs In Cash Crisis

Brazilian football has "lurched into a new crisis with as many as 50% of current professional players and officials unpaid," according to Ricardo Setyon of INSIDE WORLD FOOTBALL. Estimates say that the "wage crisis has hit up to 90% of the professional clubs in the country." The cash crisis "runs de ...

Tags: Finance, Brazil

11/25/14
Lewis Hamilton In For Windfall

F1 driver Lewis Hamilton is in "pole position" to become Britain's "richest ever sports star after clinching his second Formula One world title," according to Ben Rumsby of the London TELEGRAPH. Hamilton's latest championship triumph is "poised to net" him a new £100M ($157M), five-year contra ...

Tags: Finance, Europe

11/24/14
FFA, A-League Owners Remain At Odds

A-League owners, "some more disgruntled than others, gathered on the weekend in the capital of the UAE to talk about the future of their investments," according to Michael Cockerill of the SYDNEY MORNING HERALD. As always, it is "about power, and money," which is why Football Federation Australia wa ...

Tags: Finance, Australia

11/21/14
EU Urged To Investigate F1 Finances

F1 will be put in the dock as a "demand to investigate" the sport's £1B ($1.57B) finances is handed to the European Union, according to Kevin Eason of the LONDON TIMES. South East England MEP Anneliese Dodds has written to EU Competition Commissioner Margrethe Vestager over "grave concerns" ab ...

Tags: Finance, United Kingdom

11/21/14
Rapid Vienna Reports Small Profit

Austrian top flight football club Rapid Vienna "reported a small profit for the '13-14 season," according to the KURIER. The club "released its financial results on Wedneday." According to the report, the club generated €180,000 ($225,000) and "was able to reduce its negative capital" to around ...

Tags: Finance, Europe

11/21/14
Atlético Madrid Trims Debt To Authorities

La Liga side Atlético Madrid reduced its debt to the Spanish tax authorities by €45M ($56.5M), "cutting the total owed a year ago by 20%," according to José Marcos of EL PAIS. The club's debt to the authorities is now approximately €155M ($195M), of which €118.9M ($149. ...

Tags: Europe, Finance

11/21/14
Racing NSW CEO Banks On Tax Parity

Racing NSW CEO Peter V'landys has focused his '14 strategic plan on "arresting the decline of the industry in the state and believes this can be done only if NSW's taxes on TAB betting are lowered to match those of Victoria," according to Chris Roots of the SYDNEY MORNING  HERALD. Tax ...

Tags: Australia, Finance

11/20/14
Union Berlin Reports Profits Of $766K

Second Bundesliga side Union Berlin has generated a profit of €610,000 ($766,000) for the '13-14 fiscal year, according to Matthias Koch of BILD. The club, which unveiled its financial results on Wednesday, also generated record revenue of €27.269M ($34.2M), while it reported expenditures ...

Tags: Finance, Europe

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