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Guangzhou Evergrande Applies To List Shares On Chinese Stock Market

Published in SportsBusiness Daily Global on 07 / 06 / 15

Guangzhou Evergrande's "latest high-profile transfer is of a financial variety as it looks to become the first Asian football club to list on the stock market," according to Ben Bland of the FINANCIAL TIMES. Evergrande, the Chinese property company that co-owns the team with ecommerce group Alibaba,...

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Reading Co-Owner Pleased With FFP Rules

League Championship side Reading co-Owner Khunying Sasima Srivikorn said that the new Financial Fair Play rules "are the 'most wonderful thing to happen to English football,'" according to the BBC. Sasima said, "Financial Fair Play allows you to invest responsibly. We are committed to doin ...

Tags: Finance, United Kingdom

ARU Reports A$6.3M Deficit For 2014

The Australian Rugby Union has recorded a A$6.3M deficit for '14 after providing A$3.3M "in assistance to keep the Melbourne Rebels afloat," according to Wayne Smith of THE AUSTRALIAN. And although the new broadcast deal to come into effect next year "promises to dramatically ease the financial pres ...

Tags: Finance, Australia

Jockey Club Boosts Revenues With Music

The Jockey Club, which operates 15 British racecourses including Newmarket, Epsom, Aintree and Cheltenham, said that it is now the sixth largest music promoter in the U.K. after "staging 32 live acts last year to a combined crowd of more than 300,000," according to Malcolm Moore of the FINANCIAL TIM ...

Tags: Finance, United Kingdom

CBF's Reserve Assets Total Nearly $330M

Brazilian Football Federation (CBF) President Marco Polo Del Nero revealed that during the last three years the CBF "has attained a stable financial situation" with its reserve assets totaling R$1B ($328.2M), according to Iannacca & Seda of GLOBO ESPORTE. Del Nero and his predecessor, José ...

Tags: Finance, Brazil

HK Cricket In Line For Funding Boost

Hong Kong "will be in line for more funding" from the Int'l Cricket Council after the disbanding of the Asian Cricket Council, said top official John Cribbin, according to Alvin Sallay of the SOUTH CHINA MORNING POST. Cribbin, who was VP of the ACC before the regional body was shut down by the ICC l ...

Tags: Finance, China

Team NZ To Fight To Hold Pre-Regatta

Team New Zealand "will fight for an America's Cup pre-regatta in Auckland," despite the event's organizers announcing all races will be in Bermuda in '17, according to Trevett & Tait of the NEW ZEALAND HERALD. PM John Key said it was "extremely unlikely" the team would get government funding fol ...

Tags: Finance, New Zealand

Ukrainian Club Offers Property To Players

The struggling Ukrainian football club Chernomorets from the Black Sea resort city of Odessa has offered its players to cover outstanding wage payments with real estate rather than cash. "We told our players that they should choose: either we pay off the wage arrears in cash by the end of the year, ...

Tags: Finance, Russia

CBF President Tackles Medida Provisória

Brazilian Football Federation (CBF) President Marco Polo Del Nero took charge of his new post on Thursday with "at least one consensus between the clubs and federations: the Medida Provisória, which deals with the refinancing of Brasileiro clubs' debt, needs to be altered," according to Dolza ...

Tags: Brazil, Finance

Relegation Could Result In $32M Loss

Bundesliga side Hannover 96 President Martin Kind said "potential relegation would result in a loss" of around €30M ($32M), according to Michael Richter of KICKER. While getting relegated from the top flight "would represent a substantial financial hit, it would not threaten the club's existenc ...

Tags: Finance, Europe

COB Pays R$23M For 2007 Pan Games

More than seven years after the event, the Pan and Parapan American Games of Rio 2007 "still has open accounts, recording losses that are being paid" by the Brazilian Olympic Committee (COB), according to Brito & Cruz of UOL. By contract, the COB "became responsible for the obligations of the or ...

Tags: Finance, Brazil

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