Featured Story

League Championship side Wolverhampton Sold For Close To $60M To Chinese Group

Published in SportsBusiness Daily Global on 07 / 22 / 16

League Championship club Wolverhampton Wanderers has been taken over for £45M ($59.4M) "by a Chinese group, Fosun International," according to the PA. The Wolves have been up for sale since '15 and Fosun is to "pump up to" £30M ($39.6M) into the club "over the next two years as part of t...

Read More

Tags: Finance, United Kingdom

More Stories

03/23/16
Golf Drove Over £4B Into U.K. In '14

An independent report published by Sheffield Hallam University’s Sport Industry Research Centre revealed that golfers in the U.K. spent £4.3B on their sport in '14, "accounting for 14% of all consumer spending on sport," and golf paid £990M in taxes to the government, according to ...

Tags: Finance, United Kingdom

03/22/16
KBO, MLB In Posting Fee Cap Talks

Baseball officials said that Major League Baseball has "proposed a cap on the amount a big league club can bid" on South Korean players in posting, according to the KOREA HERALD. The Korea Baseball Organization and MLB have been having discussions on the $8M limit "on players who are eligible for po ...

Tags: Finance, Asia

03/22/16
Bolton Wanderers Tax Litigation Ends

Tax litigation involving "struggling" League Championship side Bolton Wanderers "has come to an end at the High Court," according to the BOLTON NEWS. The club announced last week it had paid the £2.2M ($3.2M) bill -- and Registrar Clive Jones "dismissed the winding-up petition" from U.K. tax a ...

Tags: Finance, United Kingdom

03/21/16
Neymar Ordered To Pay $52M

Neymar has been "found guilty of tax evasion and ordered to pay back" £36.3M ($52.4M) by a court in Rio, Folha reported, according to Pete Jenson of the London DAILY MAIL. He will appeal the fine, which refers to around £11M in "undeclared earnings" from former club Santos, Barcelon ...

Tags: Europe, Finance

03/21/16
SA Rugby Posts Strong Financials

South Africa Rugby on Friday announced a "very satisfactory" operating result for the year ended Dec. 31, with a group pre-tax surplus of 33.3M rand, significantly higher than the 2.9M rand achieved in the previous financial year, according to SPORT24. SA Rugby CEO Jurie Roux said that the resu ...

Tags: Finance, Africa

03/21/16
Vontobel Bank Hit With Fine

Switzerland's Bank Vontobel announced it must pay €4.5M ($5M) "in connection with a tax case" against former Bayern Munich President Uli Hoeness, according to REUTERS. A spokesperson for the Zurich-based bank said that "the proceedings in Germany against Vontobel were concluded with t ...

Tags: Europe, Finance

03/18/16
Crystal Palace Legal Battle Costs Pulis

Former EPL side Crystal Palace Manager Tony Pulis is facing a bill of nearly £5M ($7.24M) after "losing a legal battle" with the club over a bonus payment it made to him shortly before he left the team, according to Gary Jacob of the LONDON TIMES. Pulis, now West Bromwich Albion's head co ...

Tags: Finance, United Kingdom

03/18/16
FIFA Reveals Blatter's Salary Was $3.8M

Former FIFA President Sepp Blatter was paid a £2.6M ($3.76M) package last year, the first for which FIFA has disclosed the salary paid to its president and secretary general, according to David Conn of the London GUARDIAN. FIFA published the figure in its accounts for '15, which showed that "a ...

Tags: Europe, Finance

03/18/16
China's Li Ning Returns To Profit

Chinese sportswear brand Li Ning made a "small profit last year, ending three years of annual losses," according to Patti Waldmeir of the FINANCIAL TIMES. The company -- a household name on the Chinese high street -- reported net profit attributable to equity holders of $2.2M for '15, reversing ...

Tags: Asia, Finance

03/18/16
Schalke Reports Record Revenue For '15

Bundesliga club FC Schalke reported a record revenue of close to €265M for the '15 fiscal year, according to Friedhelm Pothoff of DER WESTEN. Schalke Finance Dir Peter Peters said that the club generated €264.5M last season. During the '1 ...

Tags: Finance, Europe

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug