Featured Story

Chinese Government Doubts CSL Model, Fears League Could Become Dumping Ground

Published in SportsBusiness Daily Global on 01 / 23 / 17

The Chinese government has decided to "crack down" on what it calls "irrational investment" in overseas players, according to Bland, Hancock & Wildau of the FINANCIAL TIMES. It fears Chinese Super League club owners, "many of whom are heavily indebted property developers," are paying "far too mu...

Read More

Tags: Asia, Finance

More Stories

01/16/17
China Buying Racehorses At Record Pace

Amid a "whirl of hands and shouts from the bid spotters at Australia's biggest thoroughbred racehorse auction," Teo Ah Khing spent A$1M ($748,700) in "a little over a minute," according to Jamie Smyth of the FINANCIAL TIMES. Teo, the Malaysian-born owner of China Horse Club, who is "on a mission to ...

Tags: Asia, Finance, Australia

01/16/17
New Levy To Double Racing Funds

Racing "received another financial boost" on Friday with the announcement of a "new levy on retail bookmakers" of 10% of their gross profits from the sport, according to Mark Souster of the LONDON TIMES. For "the first time that figure includes bets made online and offshore, not only in shops." ...

Tags: Finance, United Kingdom

01/13/17
JD Sports Beats Market Expectations

British sportswear retailer JD Sports Fashion said on Thursday it "expected full-year headline profit before tax to beat market expectations on continued growth in comparable store sales, sending its shares to a record high," according to Rahul B. of REUTERS. The company said that "profit before tax ...

Tags: Europe, Finance

01/13/17
EPA Accuses FCA Of Excess Emissions

The U.S. Environmental Protection Agency on Thursday "accused Fiat Chrysler Automobiles NV of illegally using hidden software to allow excess diesel emissions to go undetected, the result of a probe that stemmed from regulators' investigation of rival Volkswagen AG," according to Shepardson & Wo ...

Tags: Finance

01/12/17
Hardy Completes Notts County Takeover

Nottingham businessman Alan Hardy said that "he has completed the takeover" of League Two side Notts County, according to the BBC. The purchase from Ray Trew was "expected to go through on Monday, but a dispute over who pays a loan" of more than £1M ($1.2M) delayed the deal by 48 hours. But Ha ...

Tags: Finance, United Kingdom

01/11/17
Yao Ming's Firm Invests In Formula E

Formula E is receiving further investment after it was revealed that Yao Capital has become the latest shareholder in the electric racing circuit. Yao Capital, which was founded by former NBA player Yao Ming and a number of other Chinese investors last January, has acquired an undisclosed stake in t ...

Tags: Finance, Europe

01/11/17
Euro 2016 Brought In More Than €1B

A study commissioned by the French government revealed that Euro 2016, which officially cost less than €200M of public money, had an economic impact of €1.2B on the host country, making the tournament a “very lucrative event,” according to Edouard Pflimlin of LE MONDE. The gove ...

Tags: Europe, Finance

01/11/17
Notts County Takeover Being Delayed

Alan Hardy's proposed takeover of League Two side Notts County is "being delayed because of a dispute" over who pays a £1M ($1.2M) loan, according to the BBC. Nottingham businessman Hardy had been "expected to complete the purchase" of the club on Monday. But the deal is "being held ...

Tags: Finance, United Kingdom

01/10/17
F1 Teams Must Keep Shares For Ten Years

Formula 1 teams that "buy shares in the sport's holding company will be forced to retain them for at least a decade as part of a deal engineered by its prospective new owners," according to Mark Kleinman of SKY NEWS. A prospectus circulated last week outlined Liberty Media Group's "proposals to offe ...

Tags: Europe, Finance

01/10/17
HNA Group Seeking Expansion

Chinese conglomerate HNA Group "is seeking to expand its global leisure empire through making new investments in golf," betting on continued Asian interest in the game despite "declining participation rates across the rest of the world," according to Murad Ahmed of the FINANCIAL TIMES. The comp ...

Tags: Asia, Finance

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug