SAFA Owes Second Division $500K Finance Notes Business Rates Are Lord's Next Big Test Nottingham In Talks With New Backers F1 IPO On Track Despite Legal Issues 'Fergie Factor' Worth $1.5B Seven F1 Teams Can't Afford New Engines U.K. Tax Authority Targets Coaches Finance Notes Puma Cuts Full-Year Profit Forecast
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South African FA Owes Second Division Clubs More Than $500K For Last Season05 / 22 / 13The South African FA "allegedly owes second division clubs" close to R5M ($524,000) for the '12-13 season, according to Sello Rabothata of SOWETAN LIVE. Though it "has been at pains to tell all and sundry that it is in a healthy financial position," the association owes all 144 second division clubs... |
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Chinese Brands Regret Overexpansion
Six major sporting goods brands in China "have suffered dearly from over-ambitious expansion, most notably Peak Sport," which closed around 1,000 stores across the country in the first three quarters of '12, according to WANT CHINA TIMES. Peak reported that at the end of September, the company's fra ...
Salford Gets Lifeline To Settle Debt
Super League ruby side Salford City Reds unveiled that millionaire racehorse owner Marwan Koukash is the potential investor granting the club "a lifeline after a winding-up petition brought against them was adjourned in court for a second time because of talks with a potential investor in the Super ...
Tags: Finance, United Kingdom
Swinton To Offer Funds To Help Salford
Championship rubgy side Swinton planned to donate a "substantial percentage" of the gate receipts from Sunday's friendly to "troubled" Super League side Salford City, according to the BBC. Salford City is "currently the subject of a winding-up petition, with a hearing set to take place on Monday." S ...
Tags: United Kingdom, Finance
Everton Reports $14.8M Loss In '11-12
EPL Everton FC announced losses of £9.1M ($14.8M) for the '11-12 season, which were "worse than had been expected," according to Scott Rutherford of the LONDON TIMES. The club's wage bill "soared by more than £5M ($8M) to a record £63.4M ($103M)." With Manager David Moyes trying to keep Everton in Champions League qualification contention after taking 36 points from its first 21 games of the season, "the club’s latest financial figures illustrates how the manager is handicapped when it comes to strengthening his squad."
Tags: Finance, United Kingdom
Decathlon Expands In India
French sports goods giant Decathlon "is planning to enter the Indian market as a single-brand retail chain," according to Nivedita Mookerji of the Indian BUSINESS STANDARD. Decathlon "has written to the government proposing to open retail stores in India, similar to the 20 other countries" in which ...
A Sigh Of Relief Over French Tax Law
There was cause for celebration in the halls of Ligue 1 club Paris St. Germain when France’s Constitutional Council struck down President François Hollande’s proposed 75% marginal tax rate on those making more than €1M ($1.3M) a year, according to Gabriele Marcotti of the LON ...
Profits Tumble At Leeds United
League Championship side Leeds United has "underlined the importance of GFH Capital’s recent takeover" by publishing new figures that reveal a major financial downturn, according to Phil Hay of the YORKSHIRE EVENING POST. The club’s results for the 12 months leading up to June 30 show "m ...
Tags: Finance, United Kingdom
Adidas CEO Optimistic Of '12 Sales
Adidas CEO Herbert Hainer told German newspaper Sueddeutsche Zeitung he expects sales to be "higher than €14.5B ($19.2B)" this year, according to REUTERS. So far, adidas has forecast sales of about €14.5B in '12, up from €13.3B in '11 ( REUTERS, 12/27 ). DEUTSCHE WELLE reported Hain ...
Sports Brands Suffer In China
High inventories "caused by quick expansion, product homogeneity, price surges and sliding purchasing power are expected to pressure int'l and local sports goods brands this winter," according to Wang Zhuoqiong of the CHINA DAILY. Nike's second-quarter fiscal report revealed that Nike sales in China ...
Hearts Safe From Liquidation
Scottish Premier League Heart of Midlothian Dir Sergejus Fedotovas announced that the "threat of liquidation no longer hangs over" the club after more than £1M ($1.6M) was raised through the club’s share issue, according to Barry Anderson of the SCOTSMAN. Fedotovas thanked supporters for ...
Tags: Finance, United Kingdom
