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Executive Transactions

Published in SportsBusiness Daily Global on 11 / 26 / 14

The Greek Super League elected Asteras Tripolis President GIORGOS BOROVILOS as president on Monday "after he secured 13 votes out of the 16 teams in the league," with Panthrakikos President DIMITRIS TZELEPIS elected as his deputy ( REUTERS, 11/25 ). ... The NBA announced that JAN MENNEKEN h...

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09/24/14
Real Zaragoza Liquidates Its Debts

Spanish second division side Real Zaragoza has liquidated its €2.9M ($3.7M) debt to the Spanish tax authorities, "primarily derived from delayed salary payments to players and club employees," according to the EFE. The payment to the tax authorities "was one of the primary problems resolved by ...

Tags: Europe, Finance

09/24/14
Laxey Partners Ups Stake In Rangers

Finance group Laxey Partners has strengthened its grip on Scottish Championship side Rangers by increasing its stake in the club, according to Gary Ralston of the Scotland DAILY RECORD. The Isle of Man hedge fund is now the "largest shareholder at Ibrox" after increasing its stake to 16.3%. Laxey sp ...

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09/24/14
Serie A Juventus Increases Revenue, Debt

Serie A side Juventus released its financial report to June with a "marked increase in revenue, but still running at a loss" of €6.7M ($8.6M), according to FOOTBALL ITALIA. Juventus is "to consider this an improvement," as in '12-13 the club ran at a loss of €15.9M. Revenue increased by &e ...

Tags: Europe, Finance

09/23/14
Lim To Buy 50% Stake In Salford City

Singaporean billionaire Peter Lim "is set to purchase a 50% share" in semi-pro Northern Premier League side Salford City, according to Jamie Jackson of the London GUARDIAN. Lim has agreed to a deal with the former ManU players and current owners of Salford City Ryan Giggs, Gary and Phil Neville, Nic ...

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09/22/14
Atlético Madrid Cuts Debt By $115M

La Liga side Atlético Madrid has been "battling a long-standing debt issue in the midst of their success," according to INSIDE SPANISH FOOTBALL. The club has been running debts of around €200M ($257M) over the last five years, but from Oct.1, "this figure will be settled" to around &euro ...

Tags: Finance, Europe

09/22/14
Arsenal Sees Revenue Boost Of $489M

Arsenal generated revenue of more than £300M ($489M) in '13-14 when the club "ended a nine-year run without a major trophy," according to Keith Weir of REUTERS. Arsenal "returned to winning ways" when it lifted the FA Cup in May, gaining a reward after investing in players including German m ...

Tags: Finance, United Kingdom

09/19/14
French League Approves Finance Model

Three investment funds said that the French football league "has given them permission to give financing to teams in exchange for sharing a player’s transfer fee, a system that some sports bodies have frowned upon," according to Alex Duff of BLOOMBERG. The model "is a variation on so-called th ...

Tags: Finance, Europe

09/19/14
Gladbach Expects Revenue Of $129M

Bundesliga club Borussia Mönchengladbach "will finish the '14 fiscal year, for the second time in its history, with triple-digit million revenue," according to SPORT1. Club Managing Dir Stephan Schippers said, "We will generate more than €100 million ($129M) in revenue. Fifteen years ...

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09/19/14
Rangers Fans Refuse To Hand Over Cash

Scottish Championship side Rangers fans will "not hand over" £500,000 ($818,125) to their club "because they don’t trust the board with their money," according to Gary Ralston of the Scotland DAILY RECORD. The Rangers Fans Fighting Fund, established after the club went into administratio ...

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09/19/14
Finance Notes

Greece's second tier Football League announced on Wednesday "the postponement of the start of the season due to financial difficulties being faced by most clubs." The Football League was scheduled to start the weekend of Sept. 27-28. The league has requested a meeting with PM Antonis Samaras, leader ...

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