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Super Rugby Side Western Force Ask Fans For A$10M To Save Franchise

Published in SportsBusiness Daily Global on 03 / 24 / 17

The "embattled" Super Rugby side Western Force launched a A$10M ($7.6M) fundraising drive to "save it from possibly being cut from the competition as early as next year," according to Greg Stutchbury of REUTERS. SANZAAR met in London two weeks ago to address "widespread criticism of the unwieldy 1...

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Tags: Australia, Finance

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Financial Notes

Olympique Lyonnais President Jean-Michel Aulas traveled to China and finalized an agreement with Chinese firm IDG Capital for 20% of OL's shares for €100M ($106M). Of the €100M, IDG Capital will pay €30M ($32M) in the first 15 days followed by the remaining €70M ...

Tags: Finance

Politicians Say Murdoch's Bid Should Be Probed

Rupert Murdoch's new takeover approach for British pay-TV firm Sky "should be investigated" by the U.K.'s competition authorities, according to opposition politicians, though analysts said that a deal "should be easier to get through this time round," according to Davey & Holton of REUTERS. Libe ...

Tags: Finance, Europe

British Cycling's Budget Cut By $5M

British Cycling has had its budget cut by more than £4M ($5M) for the 2020 Olympic Games, despite being dubbed the "medal factory" for its performance in Rio this summer, "and five other sports have lost all UK Sport funding," according to Paul McClean of the FINANCIAL TIMES. Badminton, a ...

Tags: Finance, United Kingdom

21st Century Fox Agrees To Buy Sky

Twenty-First Century Fox "reached a preliminary deal to acquire full control of Sky" for £11.2B ($14.1B), as billionaire Rupert Murdoch "seeks to consolidate" his TV empire, according to Penty & Hellier of BLOOMBERG. Fox, which already holds a 39% stake in Sky, proposed acquiring ...

Tags: Finance, United Kingdom

Finance Notes

The agency representing Cristiano Ronaldo published details of his " assets held overseas as evidence that he has paid all his taxes," with the player declaring £191M in '15. Last week Gestifute, the company founded by Ronaldo’s agent, Jorge Mendes, "denied that its clients are i ...

Tags: Finance

Return To La Liga A Boost For Alavés

The return of Spanish football club Alavés to La Liga this season "has meant a jump in the team's expected revenue for '16-17" to €49.3M ($52.3M), with an expected profit of €8.3M ($8.8M), according to Luis Fuentes of MUNDO DEPORTIVO. The club's TV revenue this season "has mult ...

Tags: Europe, Finance

MLS Outspending Serie A, Study Finds

Many Serie A players "are earning less than their Major League Soccer counterparts, a study has revealed," according to Ben Gladwell of ESPN.com. An "in-depth study" by the Norwegian Axo Finans group found that there are more players in MLS earning over €100,000 ($106,200) per week than in ...

Tags: Finance, Europe

Sports Direct Facing Rough Waters

Sports Direct ended a "tough" '16 with a warning that trading "was not going to get any easier next year after a slump in first-half profit, sparking another fall in its shares," according to Paul Sandle of REUTERS. The sportswear chain founded by League Championship side Newcastle United Owner ...

Tags: Finance, United Kingdom

CONCACAF To Approve '15 Financials

CONCACAF is holding another extraordinary congress on Saturday, this time to approve the confederation’s '15 audited financial statements, "remarkably almost a full year after the financial year ended," according to Paul Nicholson of INSIDE WORLD FOOTBALL. The positive from this is "presumably ...

Tags: Finance, South America

Smaller Chinese Clubs Focus On Own Talent

Newly rich Chinese football is not "all about millionaire players and famous coaches," according to the AFP. Just ask "the smaller teams, who are living firmly in the shadow of their well-heeled neighbours." Chinese Super League clubs "took the transfer market by storm this year when they collective ...

Tags: Asia, Finance

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