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U.K.'s Jockey Club Announces Record-Setting Profit Increase Of 11% In 2013

04 / 18 / 14

The Jockey Club, which stages "some of British horseracing's most famous events including the Cheltenham festival and the Grand National, announced record financial results," according to Stephen Wood of REUTERS. The group, the "largest commercial operation in the sport in Britain," increased its tu...

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11/21/13
Adidas India Eyes E-Commerce Growth

As part of its plans to revive its fortunes in India, Reebok is "opening new stores and launching new products," according to Antonita Madonna of the Indian BUSINESS STANDARD. But most importantly, Reebok is "considering its own e-commerce platform to cater to the large populatio ...

Tags: Finance, India

11/20/13
CVC's F1 Stock Flotation On Hold

Plans for a stock market flotation of F1 "remain stalled" as CEO Bernie Ecclestone "faces legal action that could break his long grip on the sport," according to Keith Weir of REUTERS. Private equity fund CVC said that a flotation "was still its aim, but ruled out any action in the short term to rev ...

Tags: Finance, Europe

11/20/13
Werder Bremen Loses $10.7M In '12-13

Bundesliga club Werder Bremen "continues to be in the red" and reported a loss of €7.9M ($10.7M) for the '12-13 fiscal year, according to SPIEGEL ONLINE. However, Bremen Sport Dir Thomas Eichin said that the club "is on the right path." In the previous season, the club reported a record loss of ...

Tags: Finance, Europe

11/20/13
Paddy Power Lowers Forecasts

Unfavorable sporting results "continue to weigh on Paddy Power," prompting the bookmaker to lower forecasts for operating profit on Tuesday, according to Roger Blitz of the FINANCIAL TIMES. The Dublin-based group, already feeling the effects of Andy Murray’s Wimbledon triumph and other results ...

Tags: Finance, United Kingdom

11/19/13
Hertha Reduces Liabilities During '12-13

Bundesliga club Hertha Berlin "was able to reduce its liabilities" by €5.2M to €36.8M during the '12-13 fiscal year, according to the SID. However, Hertha CFO Ingo Schiller revealed that the club lost €7.8M during the previous season, when it was promoted to the Bundesliga. Origi ...

Tags: Finance, Europe

11/19/13
RFU Reports Record Revenue

The Rugby Football Union has reported group revenue of more than £150M ($242M) for the first time in its history, according to the BELFAST TELEGRAPH. Revenue increased by £42.9M ($69M) from £110.6M to £153.5M ($247M) during the 12-month period for '12-13, "driven by the full ...

Tags: Finance, United Kingdom

11/19/13
Russian Side Near Financial Collapse

Former Russian football champions Alania Vladikavkaz "appeared on the brink of financial collapse Monday after coach Vladimir Gazzaev admitted they lack even the funds to travel to their next match," according to R-SPORT. Alania won the Russian title in '95 and "made regular appearances in the Champ ...

Tags: Finance, Russia

11/19/13
NFL Media Exec Enters IMG Auction

NFL media exec and former ESPN Chair Steve Bornstein is "playing a behind-the-scenes role in the auction of sports agency IMG by advising a bidders group headed by British money management firm CVC Capital Partners," according to Grover & Richwine of REUTERS. Two people "with knowledge of the bi ...

Tags: Europe, Finance

11/19/13
Real Valladolid Nearly Administration Free

La Liga side Real Valladolid President Carlos Suárez has submitted an "agreement plan" with more than 300 creditors to "local courts in the city, which may see the club come out of financial administration" as early as January, according to INSIDE SPANISH FOOTBALL. Local reports indicate that ...

Tags: Europe, Finance

11/18/13
Championship Burnley Announces Losses

Championship side Burnley announced annual losses of £7.6M "for the last financial year," according to SKY SPORTS. Burnley made a £3.1M profit over the previous 12 months, "which was mainly down to the club-record sale of recent England call-up Jay Rodriguez to Southampton." Since then, ...

Tags: Finance, United Kingdom

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