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Chinese Property Developer Wanda Group Eyes 30% Stake Of Serie A Club AC Milan

Published in SportsBusiness Daily Global on 02 / 27 / 15

China's biggest property developer is "expanding sports empire in Europe," according to Emma Glez of CHINA DAILY. Dalian Wanda Group is interested in purchasing a 30% stake of Serie A side AC Milan, as the company "continues its shopping spree to build a sports empire in Europe." Wanda, which contro...

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Tags: Franchises, Europe, China

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Spanish Side Mirandés Avoids Relegation

Spanish second division side Mirandés has "assured it will remain in the second division" after covering the amount of capital demanded by the Spanish Superior Sports Council (CSD) and completing its conversion to an Anonymous Sports Society (SAD) minutes before the deadline, according to EL ...

Tags: Europe, Finance

F1's Formula For Financial Success

Christian Sylt is the co-author of "Formula Money," an annual report examining all aspects of F1's finances, with "detailed data on teams, drivers, sponsors and races," according to Knight & Torre of CNN. Here, he "answers key questions about F1's financial model." Q: How well is F1 ...

Tags: Finance, Europe

Battle For Control Of Hearts Continues

The "hard negotiating" has begun to determine whether Scottish Premier League Heart of Midlothian "can continue to exist in its current form," according to Barry Anderson of the SCOTSMAN. All three offers for the Edinburgh club "have been rejected," and one bidder, HMFC Ltd., "is out of the running. ...

Tags: Finance, United Kingdom

LFP: Murcia Will Replace Guadalajara

The Spanish Football League (LFP) has confirmed that Guadalajara has been relegated from the second division to the third division -- second division B -- for "irregularities in the club's process of becoming an Anonymous Sports Society (SAD)," according to Sergi Font of MARCA. At the LFP General As ...

Tags: Europe, Finance

Racing Victoria CEO Calls Viability Key

Racing Victoria CEO Bernard Saundry said that "market forces rather than a move to rationalize training licenses in Victoria will see training businesses continue to decline in the next 10 years," according to Michael Sharkie of THE AGE. Debate has "raged in recent weeks about the pressure of debt o ...

Tags: Finance, Australia

CVC Trims Borrowing Costs For F1 Loan

Private equity firm CVC has refinanced a $2.5B loan with the Royal Bank of Scotland and Goldman Sachs to reduce the borrowing costs of F1, "the motorsport series which it controls," according to Christian Sylt of the London TELEGRAPH. F1's debt was not close to its maturity date, "but CVC refinanced ...

Tags: Finance

Carlos Slim World's Richest Club Owner

Mexican business tycoon Carlos Slim is the world's richest football club owner, according to a new list that includes investors and features teams from 11 countries, suggesting the worldwide appeal of sports clubs as a trophy asset for the ultra wealthy. Slim's America Movil bought a 30% stake last ...

Tags: Finance, North America

F1 Uses Tax Loophole To Pay Only $1.5M

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Tags: Finance, United Kingdom

Juventus Tops Champions League Payouts

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Tags: Europe, Finance

Finance Notes

Puma reported "lower-than-expected second quarter results, hurt by falling sales in China and southern Europe as well as the effects of the weak yen in Japan, its second-biggest market." Puma said on Tuesday that sales in the Asia/Pacific region fell by 7.2% ( REUTERS, 7/24 ). ... Dutch tax auth ...

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