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German Prosecutors Reveal F1's Bernie Ecclestone Was Blackmailed On Eve Of Trial

04 / 24 / 14

German prosecutors "have made the startling revelation" that they believe F1 CEO Bernie Ecclestone "was blackmailed by former banker Gerhard Gribkowsky," according to Christian Sylt for FORBES. The revelation is surprising "because it reflects Mr Ecclestone’s defence to charges issued by the s...

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Tags: Finance, Europe

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12/20/13
Cruzeiro Ranked Brazil's Most Valuable

Brazilian sports business consulting firm Pluri Consultoria on Wednesday released a study of the market values of Brazilian football clubs based on the total market value of all the players on each team's roster, according to the EFE. The combined market value of Brazil's 25 most valuable clubs in ' ...

Tags: Finance, Brazil

12/20/13
Jockey Club Boosts U.K. Prize Money

Prize money at leading British horse racing venues including Aintree, Cheltenham and Epsom "will reach a record" of almost £43M ($69.8M) next year, according to Keith Weir of REUTERS. The Jockey Club, which runs 15 race courses in Britain, said that it would "provide almost half of the total t ...

Tags: Finance, United Kingdom

12/19/13
San Mamés Excluded From Investigation

The European Commission, which announced that it is "launching an in-depth probe into allegations that Spanish teams unfairly enjoyed government assistance," said that it has not opened an investigation into "Athletic Bilbao's construction of its San Mamés stadium," according to Javier Gall ...

Tags: Finance, Europe

12/19/13
MotoGP, F1 Proving Lucrative In Spain

Barcelona Circuit President Vicente Aguilera "shared figures regarding the impact that F1 and MotoGP have had on Spain in recent years," according to Manuel Franco of AS. Aguilera: "During these difficult economic times, during the worst crisis that there has been in Spain in the last 40 years, we h ...

Tags: Europe, Finance

12/19/13
EC Investigating Real's Land Transaction

The European Commission "is investigating whether the Madrid City Council did Real Madrid a favor" in '11 by valuing at €22M a piece of land that was valued at €595,000 13 years earlier, according to Luis Doncel of EL PAIS. After Real Madrid bought the land from Madrid in '98, the club rec ...

Tags: Finance, Europe

12/18/13
Spanish Clubs Facing Financial Probe

Real Madrid and Barcelona, the world's "richest football clubs by revenues, are among seven Spanish teams facing an EU investigation into possible state aid violations that could cost the squads several billion euros," according to Fontanella-Khan & Johnson of the FINANCIAL TIMES. European ...

Tags: Europe, Finance

12/18/13
Portuguese, Polish Investors Eye Gdansk

The majority shareholder of Polish Ekstraklasa side Lechia Gdansk "is planning to sell its stake in the Polish football club," according to Jaroslaw Adamowski of INSIDE WORLD FOOTBALL. Wroclawskie Centrum Finansowe, controlled by Andrzej Kuchar and his wife, Ewa Andreasik-Kuchar, who is the for ...

Tags: Finance, Europe

12/18/13
German Leagues Score Record Revenue

The Basketball Bundesliga (BBL), the German Hockey League (DEL), the Handball Bundesliga (HBL) and football's 3rd League generated a combined revenue of €384M ($528M) during the '12-13 fiscal year. The sixth "Finanzreport deutscher Profisportligen" (Financial Report of German Professional Sport ...

Tags: Finance, Europe

12/17/13
France Exempts Monaco From 75% Tax

The French government on Friday performed a U-turn and "exempted Monaco from paying the 75 percent tax" on earnings of more than €1M ($1.37M) that will be introduced in '14, according to the AFP. Deputies in the National Assembly had agreed that Monaco, which is subject "to vastly different tax ...

Tags: Finance, Europe

12/17/13
Aggreko Wins World Cup Power Contract

British power supplier Aggreko "has won contracts to supply power" at the 2014 World Cup in Brazil and the 2014 Commonwealth Games in Glasgow, "following a challenging period" for the company, according to Angela Monaghan of the London GUARDIAN. Shares in Aggreko rose 5.8%, "making it the biggest FT ...

Tags: Finance, United Kingdom, Brazil

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