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Arsenal Share Trading Before Usmanov's Bid Raises Suspicions

Published in SportsBusiness Daily Global on 05 / 25 / 17

More than £35,000 ($45,300) was staked on Arsenal shares in "suspicious" trading activity "minutes before news broke of Alisher Usmanov’s bid to take full control " of the club, according to Jamie Nimmo of the London EVENING STANDARD. ...

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Tags: Finance, Europe

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03/10/17
Clubs, Players Could Owe £100M In Taxes

Professional football clubs and their players -- past and present -- "may face bankruptcy over the non-payment of taxes," which could total up to £100M ($121.8M), according to SKY SPORTS. A legal test case, scheduled for the U.K. Supreme Court, will see Scottish Premiership side Rangers and U. ...

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03/10/17
Glamorgan CCC Announces Operating Loss

Glamorgan County Cricket Club announced an operating loss of £307,778 for the '16 financial year, according to the BBC. The club reported an operating profit of £593,000 in '15. Glamorgan revealed the results in its annual report and also reported a turnover of £6.7M.&nb ...

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03/10/17
Finance Notes

British sports retailer JD Sports "announced plans to combine its Spanish and Portuguese business with local company Sport Zone , in a plan to create the second-largest sports retailer in Iberia." JD Group will own 50% of a new "Iberian Sports Retail Group," with a further 20% held by the family ...

Tags: Finance

03/09/17
Adidas CEO Raises Sales, Earnings Targets

New adidas CEO Kasper Rorsted "ratcheted up" the German sportswear group’s sales and earnings targets on Wednesday, and "pledged a concerted push" in the U.S. market, as he "seeks to close the gap on arch-rival Nike," according to James Shotter of the FINANCIAL TIMES. Rorsted said that he ...

Tags: Europe, Finance

03/09/17
Finance Notes

Dorna Sports , the company that owns exclusive global rights for MotoGP , is " considering paying a dividend ," according to people with knowledge of the matter. As part of the plan, Dorna would "refinance its existing debt and take out a loan to pay its shareholders a dividend" of more than &euro ...

Tags: Finance

03/08/17
Finance Notes

A Spanish court has processed a legal motion filed by Miguel Zorío against La Liga side Valencia Owner Peter Lim . Zorío, the former Valencia VP who now leads the "Marea Valencianista" platform, is protesting "Valencia's capital increase in '15, which was carried out by Lim." T ...

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03/08/17
2016 Mexican F1 GP Had $616M Impact

Mexican media and entertainment company CIE President Alejandro Soberón announced that last year's Mexican Formula 1 Grand Prix had an economic impact of 12B Mexican pesos ($616M), according to Yael Rueda of LA AFICIÓN. Soberón said that the objective for this year's race " ...

Tags: Finance, North America

03/08/17
Standoff Costing Scottish Rangers

The "long-running stand-off" between Scottish Premiership side Rangers and Sports Direct over their "controversial merchandising agreement is costing the Ibrox club more than just millions of pounds in lost revenue," according to Matthew Lindsay of the HERALD SCOTLAND. That "was the warning" from a ...

Tags: Finance, United Kingdom

03/06/17
Finance Notes

The owners of leisure business David Lloyd are readying a £1.3B ($1.6B) sale of the gym chain after "bulking up with the recent purchase of a collection of Virgin Active clubs." The "looming sale is already drawing interest from large private equity firms" ahead of an official auction. B ...

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03/05/17
Swansea City Confirms $18M Loss

EPL side Swansea City confirmed a loss of £14.6M in its "latest set of annual accounts," according to Andrew Gwilym of WALES ONLINE. The club recorded a profit of £1.1M "in the previous figures" for the 14-month period up to July '15. C ...

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