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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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01/17/14
Lotus Reveals $186M Debt

Lotus F1 team Owner Gerard Lopez has revealed the team has £114M ($186M) of debt, but "insists their future is not in doubt," according to Andrew Benson of the BBC. Lopez, co-owner of the Genii Capital investment company that runs Lotus, said that "most of the debt is internal." He added drive ...

Tags: Finance

01/16/14
Ecclestone Bids To Buy Nürburgring

F1 CEO Bernie Ecclestone "believes he is on the short list of possible buyers for the bankrupt Nürburgring racetrack," according to the HANDELSBLATT. Ecclestone said that "an agreement could be reached within the next several weeks." He said, "We've made an offer, and we are now waiting if it w ...

Tags: Finance, Europe

01/16/14
Leeds United Takeover Moves Closer

Bahrain-based investment company Gulf Finance House "has agreed to sell part of its stake" in League Championship Leeds United, "smoothing the way for a takeover by a British consortium," according to Nair & Weir of REUTERS. Leeds Managing Dir David Haigh and club sponsor Enterprise Insurance Ma ...

Tags: Finance, United Kingdom

01/16/14
Neymar Signing Remains Subject Of Debate

The case regarding Barcelona’s signing of Neymar, which recently saw Spain’s Attorney General request contractual documents , is, according to Barcelona University Professor Jose Maria Gay, an "indication of how soccer’s top players channel earnings through a labyrinth of companie ...

Tags: Europe, Finance

01/15/14
Windfall In Line For Latin American Teams

Sponsors will invest a total of $180M in the Latin American nations that will compete in the World Cup, according to SPORT. Athletic clothing brands will be "present in each country." In terms of communications, the "stiff competition that habitually exists in the market will also apply to the sport ...

Tags: South America, Finance

01/15/14
EPL Bets Cost U.K. Bookmakers $33M

Bookmakers "are reeling from an unprecedented set of English Premier League results" that the industry estimates cost it at least £20M ($33M) in payouts, according to Roger Blitz of the FINANCIAL TIMES. Betting service Coral tweeted that the weekend proved to be “one of the worst in our ...

Tags: Finance, United Kingdom

01/14/14
Cardiff City Loses £30M In '12-13 Season

Latest accounts revealed EPL club Cardiff City lost £30M in the season it was "promoted to the Premier League," according to the BBC. The club's "overall debt has risen" to a £118M, with just over half, £66M, owed to Owner Vincent Tan. Cardiff Chair Mehmet Dalman said that "the clu ...

Tags: Finance, United Kingdom

01/14/14
ManU Loses Nearly £250M In Value

The value of ManU "has dropped by a staggering quarter of a billion pounds in the last four weeks," according to Alex Bell of the MANCHESTER EVENING NEWS. Despite registering its first win of the year on Saturday, ManU "lost three games on the bounce prior to that" -- for the first time since '92 -- ...

Tags: Finance, United Kingdom

01/14/14
Ashley Back In 'Mischievous' Form

EPL Newcastle United Owner and U.K. sporting goods retailer Sports Direct founder Mike Ashley "is back on mischievous form" after he purchased department store chain Debenhams, according to Andrea Felsted of the FINANCIAL TIMES. Ashley controls a 64.4% stake in Sports Direct. One person "who knows t ...

Tags: Finance

01/13/14
FT: ManU Owners Value Profits Over Trophies

With a warning that results "have not lived up to our standards," the Glazer family "lost patience and fired" their NFL club’s coach, Greg Schiano, according to Kuper & Blitz of the FINANCIAL TIMES. Some fans of the Glazers’ other club, ManU, "want the same fate for their manager too ...

Tags: Finance, United Kingdom

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