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U.K.'s Jockey Club Announces Record-Setting Profit Increase Of 11% In 2013

04 / 18 / 14

The Jockey Club, which stages "some of British horseracing's most famous events including the Cheltenham festival and the Grand National, announced record financial results," according to Stephen Wood of REUTERS. The group, the "largest commercial operation in the sport in Britain," increased its tu...

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Man City's FFP Hopes Boosted

Man City on Wednesday released its latest financial results, which showed that losses have fallen by £46.3M to £51.6M for '12-13, according to James Ducker of the LONDON TIMES. The club's "turnover has increased" by almost £40M to £271M and "for the first time they are operat ...

Tags: Finance, United Kingdom

English Clubs Lead Spenders On Transfers

English clubs were by "far world football's biggest spenders on overseas players" in '13, paying £550M, a "quarter of the total spent by all clubs globally," according to David Conn of the London GUARDIAN. In its Global Transfer Market 2014 report, FIFA said that English clubs "spent substanti ...

Tags: Finance

Deutsche Bank Lowers ManU Shares

ManU's signing of Chelsea midfielder Juan Mata "may have brightened the mood at Old Trafford," but Deutsche Bank "has taken a dim view" of the Spainiard's £37M ($61M) arrival and "downgraded its target price for the football team," according to Kiran Moodley of CNBC. With the team currently in ...

Tags: Finance, Europe

Fans Of Levski Launch Supporters Trust

Dissatisfied with the management of Bulgarian top-flight club Levski Sofia, fans "decided to create a supporters' trust," according to Alexander Krassimirov of INSIDE WORLD FOOTBALL. The association will be named Blue Bulgaria, and its purpose "will be to raise funds that will be invested in the clu ...

Tags: Finance, Europe

Darlington Uses Crowfunding For Comeback

English eighth-tier side Darlington FC, one of England's oldest football clubs, "is staging a financial comeback, allbeit on a small scale," according to Paul Nicholson of INSIDE WORLD FOOTBALL. The club "has introduced a 'crowdfunding' initiative" to raise an initial £50,000 ($83,000) with fu ...

Tags: Finance, United Kingdom

Bundesliga Posts Record Turnover

The Bundesliga recorded its ninth straight year with positive turnover during the '12-13 season, continuing its lasting growth with €2.17B ($3B) and topping its previous year's amount by 4.4%. The Bundesliga recorded €383.5M in operative profits, the highest of all time. Seventeen of 18 cl ...

Tags: Europe, Finance

West Ham United Debt Rises To $128M

EPL side West Ham United's "net debt has increased" to £77M ($128M) and owners David Sullivan and David Gold "have loaned the club" another £10.5M ($17.4M) to try to secure its Premier League status, according to the PA. The club's annual accounts for the year ending May 31 reveal that W ...

Tags: United Kingdom, Finance

AFL Teams Told To Cut Spending

Australian Football League side Geelong CEO Brian Cook "has reopened the debate on football department spending, declaring a cap will be introduced and clubs must reduce costs or players will seek a major pay rise," according to Jon Pierik of THE AGE. While stressing that the Cats' management or boa ...

Tags: Finance, Australia

Revenue On The Rise For Football Clubs

Deloitte's annual Money League list reported "revenues for the top 20 global football clubs have risen" another 8%, according to the FINANCIAL TIMES. The "commercial segment -- sponsorship and the like -- is shouldering most of the burden." An average of 41% of the total of €5.4B in revenues ...

Tags: Finance, United Kingdom

Kenya's Athlete Tax Plan Opposed

Kenyan opposition leader Raila Odinga "urged the government to shelve plans to tax the prize money of professional athletes who compete abroad," according to Sarah McGregor of BLOOMBERG. The East African nation has produced 24 Olympic Gold Medalists in middle- and long-distance runners, including 80 ...

Tags: Finance, Africa

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