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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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Tags: Finance, United Kingdom

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01/24/14
ZEE Takes A Hit From Sports Losses

Zee Entertainment Enterprises reported "slightly better-than-expected results for the quarter ended December," according to Malvania & Agarwal of the Indian BUSINESS STANDARD. The company’s consolidated net profit stood at Rs 213.6 crore ($34.5M), up 10.5% compared to the year-ago period, ...

Tags: Finance

01/23/14
Man City Buys A-League Melbourne Heart

EPL Man City is the new owner of "struggling" A-League side Melbourne Heart "after executing a dramatic takeover" early Thursday morning Australia time, according to Tom Smithies of the Sydney DAILY TELEGRAPH. After several days of talks in Melbourne and Sydney, senior Man City execs "completed the ...

Tags: Finance, United Kingdom, Australia

01/23/14
Alemannia Aachen Saved Financially

German fourth-tier football club Alemannia Aachen "has been saved financially after its creditors agreed to its bankruptcy plan," according to the DPA. The club and its administrator said that the court "could lift the insolvency proceedings very shortly." The creditors have agreed to forgo a majori ...

Tags: Finance, Europe

01/23/14
BCCI Doubles Profit Form IPL

The Indian cricket board "has nearly doubled its profits from the cash rich Indian Premier League's sixth edition held in 2013 compared to its profit from the fifth edition in 2012," according to the PTI. The Board of Control for Cricket in India finance committee met Wednesday in Chennai "to intima ...

Tags: Finance, India

01/23/14
HK Jockey Club To Commingling Bets With U.S.

Hong Kong Jockey Club "expects to be commingling bets" with the U.S. by April, but the same cooperation with Australia "is now looking less likely to take place this season," according to Alan Aitken of the SOUTH CHINA MORNING POST. The Jockey Club estimates commingling with all the nations operatin ...

Tags: Finance, Asia

01/21/14
GFH Confirms Leeds United Sale

Control of League Championship side Leeds United "is once again being passed to a new set of investors" after its Dubai-based owners said that "they were selling most of their holding in the Championship club," according to Roger Blitz of FINANCIAL TIMES. Private equity group GFH Capital said that i ...

Tags: Finance, United Kingdom

01/21/14
Real Madrid Considering NYSE Flotation

Sports marketing agency Euromericas reported that Real Madrid President Florentino Pérez's club "has a post-IPO value" of $3.5B, according to SPORT. Last year, "the club began taking steps toward becoming listed on the NYSE." Real Madrid "could be following the steps taken by ManU." Shares in ...

Tags: Europe, Finance

01/20/14
Premiership Salary Cap To Rise By 10%

Premiership Rugby's salary cap of around £5.2M ($8.5M) per club "is set to rise" by almost 10% this year -- the first increase in two seasons -- now that the money from the BT Sport TV contract and other sponsorship deals "is kicking in," according to Hugh Godwin of the London INDEPENDENT. It ...

Tags: United Kingdom, Europe, Finance

01/20/14
Jamaican Bobsled Facing Funding Problem

The Jamaican bobsled team "may be headed to another Olympics," according to the AP. The "catch: it needs a lot of money, and it needs it fast." Olympic organizers said on Saturday that "Jamaica has qualified for the two-man competition at the Sochi Games, though it remains unclear if the fledgling s ...

Tags: Finance, North America

01/17/14
Cycling Boom Boosts Sales At Halfords

The Olympics-inspired cycling boom "continues to power cycle sales," according to Verity Ratcliffe of the FINANCIAL TIMES. Bike brands fronted by Olympians Victoria Pendleton and Chris Boardman "have performed particularly well at Halfords." Halfords CEO Matt Davies said, "We saw 137 percent growth ...

Tags: Finance, Europe

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