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Wolfsburg Shareholder Winterkorn Says EPL's Deep Pockets Leave Bundesliga 'Powerless'

Published in SportsBusiness Daily Global on 09 / 01 / 15

Volkswagen CEO Martin Winterkorn, who "has interests in VW-owned Wolfsburg," said that Bundesliga clubs, including reigning champion Bayern Munich, "have been powerless to compete with the Premier League," according to Stephan Uersfeld of ESPN. Winterkorn has been CEO at the German car man...

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Tags: Europe, United Kingdom, Finance

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FIFA: Bank In Scandal With Dodgy History

A small private bank controlled by a "reclusive" Brazilian billionaire "shows up more than two dozen times in U.S. prosecutors’ corruption charges" against FIFA, according to Hamilton, Katz & Brush of BLOOMBERG. It is "hardly the bank’s first brush with scandal." Delta National Bank ...

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Russian F1 GP Downplays Bankruptcy

The Russian F1 Grand Prix "has hit back at reports that its promoter is bankrupt," according to GMM. Early this week, a Russian court declared that the government-owned Formula Sochi company "is bankrupt, even though a contract to host the race through 2020 is still in place." But race organizers "h ...

Tags: Finance, Europe

No Parachute Payments For Relegated Clubs

Promoted clubs that are relegated after a single year in the Premier League "will no longer benefit from full parachute payments" from the '16-17 season, according to the PA. The change in the rules means that "the promoted clubs, Bournemouth, Watford and Norwich, will miss out on a year of parac ...

Tags: Finance, United Kingdom

Chelsea Earned $151M In Prize Money

Chelsea’s EPL title success earned it £99M ($151M) in total prize money per official figures -- "the most ever earned by a single club in one season from central funds," according to Nick Harris of the London DAILY MAIL. The precise sum was £98,999,554, made up of £24.9M ($3 ...

Tags: Finance, United Kingdom

Four Bulgarian Clubs Lose Licenses

Bulgarian sides CSKA Sofia and Lokomotiv Sofia have "finally lost their professional status after the Appeals Committee of the Bulgarian Football Union confirmed the decision of its Licensing committee to refuse playing licenses" to both clubs, according to Alexander Krassimirov of INSIDE WORLD FOOT ...

Tags: Europe, Finance

Formula Sochi Goes Bankrupt

Media reports said that the arbitration court in the Russian region of Krasnodar has ruled that public company Formula Sochi, an organizer of Russia's F1 Grand Prix in Sochi, has "gone bankrupt," according to IANS. The company was indebted 5.8M rubles ($109,500), while its available assets tota ...

Tags: Finance, Russia

F1's Revenue From '99-13 Totaled $16.2B

New research indicates that revenue at F1 has "raced to a total" of $16.2B over the past 15 years, "outstripping its closest rival the FIFA World Cup," according to Christian Sylt for FORBES. The window of comparison between the two "is significant" as it it covers the period from the appointment of ...

Tags: Finance, Europe

Brazil Charges 96 Involved In $1B Fraud

Brazil's federal internal revenue service, the Receita Federal (RS), said that it has been "running an investigation of fraud in football" within the country since '02, according to Jay Forte of the RIO TIMES. RS' announcement was made two days after the U.S. FBI "arrested seven leaders" from FIFA f ...

Tags: Brazil, Finance

FIA Inspects Ferrari Wind Tunnel

Ferrari "has been given the all-clear by the FIA following a detailed inspection of its wind tunnel facilities after the Spanish Grand Prix to ensure it was complying with Formula 1's rules," according to Jonathan Noble of MOTORSPORT. The scale of the car upgrade that the Maranello team was able to ...

Tags: Finance, Europe

Arrests Unlikely To Rattle FIFA's Finances

Whatever the outcome of the investigations into corruption for staff at FIFA, its "status as a moneymaking machine seems assured," according to Moore & Scannell of the FINANCIAL TIMES. Sports marketing exec Patrick Nally: “Broadcasters and sponsors are not going to be dissuaded from suppor ...

Tags: Finance, Europe

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