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Arsenal Manager Arsène Wenger Suggests Financial Fair Play Has Become Meaningless

Published in SportsBusiness Daily Global on 08 / 31 / 15

As the Premier League's richest clubs "contemplate their last lavish moves before the closure of the transfer window," Arsenal Manager Arsène Wenger has "lamented the failure of the FFP experiment," according to Amy Lawrence of the London GUARDIAN. Financial fair play was introduced in '...

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Tags: Finance, United Kingdom

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Matildas Could See Larger Revenues

Commerical concerns "tend to dictate the revenue returns" in terms of the men's and women's Australian national football teams, even though it might not "seem fair or equitable," according to Michael Lynch of THE AGE. It will not change unless concerted efforts are made by sports administrators ...

Tags: Finance, Australia

HKFA To Receive $13M Jockey Club Boost

The Hong Kong Jockey Club is set to inject HK$100M ($12.9M) as part of the FA's new five-year plan, but professional clubs "won't get a slice of the pie," according to Chan Kin-wa of the SOUTH CHINA MORNING POST. Local football is about to "receive a hefty cash injection to help implement" the ...

Tags: Finance, China

F1 Next On Qatar's List Of Sports

Motor racing "is the one major blank spot in Qatar’s portfolio, with the oil-rich country having made extensive investments, particularly in football," according to Daniel Johnson of the London TELEGRAPH. It has "been trying for years to host a race but it has been rejected" because Bahrain ho ...

Tags: Finance, Middle East, North America

Dinamo Prepares For Revenue Increase

Russian Premier League side FC Dinamo Moscow, banned from Europa League for breaking financial fair play rules, has said the club’s revenues are set to increase substantially as of '17, when its new arena is scheduled to open. "We expect a breakthrough in revenues in two year's time when the n ...

Tags: Finance, Russia

FirstCaribbean Begins Internal Review

A CIBC FirstCaribbean Int'l Bank spokesperson said that it has "begun an internal review to find out whether or not the bank was used for illicit purposes in the FIFA bribery scandal," according to Tilak & Rocha of REUTERS. An indictment announced by U.S. prosecutors on May 27 said that "on ...

Tags: Finance, Europe

Qatar, U.S. Consortium To Bid On F1

The owner of the NFL Miami Dolphins "is teaming up with Qatar" to take control of F1, in a $7B-$8B deal that "could see the sport finally break into the US market," according to Moore, Massoudi, Kerr & Cotterill of the FINANCIAL TIMES. RSE Ventures, a company founded by the 75-year-old property ...

Tags: Finance

Agency Says Banks Did Not Police FIFA

A global group of government anti-money-laundering agencies said that financial institutions have "not done enough to police suspicious financial activity" by officials at FIFA, and cautioned banks to "step up scrutiny," according to Hosenball & Wolf of REUTERS. The warning from the Paris-b ...

Tags: Finance

Umbro Canada In Bankruptcy Prooceedings

Umbro’s Canadian licensee and distributor owes creditors nearly $41M and has until August to "file a reorganization proposal with the Province of Ontario’s Superior Court of Justice," according to Bob Mackin of WORLD FOOTBALL INSIDER. RMP Athletic Locker and sister company Core Spor ...

Tags: Finance, North America

LFP Finds Issues In Elche's Accounts

The Spanish Football League (LFP) "detected irregularities and doubts about the veracity" of Elche's accounting after an audit by BDO in November, according to the EFE. The club has been relegated to the Spanish second division and is expected to lodge an appeal. The LFP said in a report that before ...

Tags: Finance, Europe

NSDF Gives Out More Than $960,000

In "its attempt to improve the standard of sports in the country," the Indian government gave assistance of Rs 6.1 crore ($961,000) for the training of 31 athletes and to eight organizations in the first quarter of the current year '15-16 from the National Sports Development Fund, according to INDIA ...

Tags: Finance, India

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