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Infront Owner Wanda Looking For More Opportunities To Build Sports Business Sector

Published in SportsBusiness Daily Global on 08 / 28 / 15

Infront owner Dalian Wanda Group is looking for further opportunities to grow its sports business sector. The China-based group has a particular interest in the Chinese and broader Asian markets, but also sees opportunities in North America. It is understood that Wednesday’s acquisition of th...

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Tags: Finance, Europe, China

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World Cup Insurers Risk Claims, Disputes

Industry experts said that World Cup insurers are "likely to refuse to pay out on many cancellation contracts if Russia and Qatar lose the rights to hold the tournaments" because of fraud, according to Carolyn Cohn of REUTERS. FIFA Audit & Compliance Committee Independent Chair Domenico Scala sa ...

Tags: Finance

AFL Clubs Debt Total Hits A$91.5M

The overall health of Australian Football League clubs "diminished last year with club debt swelling alarmingly" to A$91.5M, according to Denham & Smith of NEWS LIMITED. As well, clubs "combined to collectively lose" more than A$3M, which was a A$9M turnaround from '13. Confidential AFL figures ...

Tags: Finance, Australia

Study Shows Winning CL Costs $227M

KPMG's sports team's new Football Benchmark database shows that "you can't win the Champions League unless you lash out" at least €200M ($227M) in wages, according to Paul Nicholson of INSIDE WORLD FOOTBALL. The database figures show all Champions League winners since '11-12 had total staff cos ...

Tags: Europe, Finance

NSW Racing To Form Tax Parity Distribution

The "real benefits of the move towards tax parity for the racing industry will not flow" until at least '17, according to Chris Roots of the SYDNEY MORNING HERALD. The state government has "announced a five-year plan to get to tax parity with Victoria on TAB betting for the racing industry in N ...

Tags: Finance, Australia

Bulgaria's A League Reports $34.5M Loss

Clubs from Bulgaria's elite A group recorded cumulative financial losses amounting to BGN 60M ($34.5M) over the past two seasons, according to Alexander Krassimirov of INSIDE WORLD FOOTBALL. The figures "were calculated from documents provided by the clubs to the Bulgarian Football Union's club lice ...

Tags: Europe, Finance

ManU Make Amends For Missed Hotel Opportunity

ManU cannot be "accused of missing many money-making tricks" in a constant, "irritating reminder of an opportunity missed," according to Ian Ladyman of the London DAILY MAIL. Hotel Football, "you may recall, is the brainchild" of former ManU captain Gary Neville. Boasting a bar, ...

Tags: Finance, United Kingdom

Pelé Museum Has $93,000 Loss

São Paulo's Pelé Museum had its one-year anniversary on Monday and has thus far "accumulated a loss" of R$290,000 ($93,370), according to Luiz Alexandre Souza Ventura of ESTADÃO. Pelé said, "After the World Cup, the number of visitors dropped a little, but it will ge ...

Tags: Finance, Brazil

Dow Jones To Launch Sports Risk Business

Dow Jones announced that it will expand its risk and compliance due diligence business into the sports industry with the launch of Dow Jones Sports Intelligence. Dow Jones Risk & Compliance is a data provider on regulatory, commercial and reputational risk for financial institutio ...

Tags: Finance

Hair-Raising Ride For Tacopina

The high-stakes gamble of Joe Tacopina and fellow investors in Serie A side Bologna FC climaxed in the last few minutes of a hair-raising match Tuesday night as his Rossoblù squad survived a furious onslaught on the pitch and advanced to the top Italian league. It was the nexus of sport and b ...

Tags: Finance, Europe

FIFA: Scandal A Concern For Russia

There is "growing concern among Moscow's sports and business elites" about what the ballooning FIFA corruption scandal "may mean for Russia," according to Farchy & Weaver of the FINANCIAL TIMES. Former Russian football club Anzhi Makhachkala Manager German Chistyakov said, "Of course, the situat ...

Tags: Finance, Russia

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