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Ferrari Given All-Clear After FIA Inspects Team's Wind Tunnel

Published in SportsBusiness Daily Global on 05 / 29 / 15

Ferrari "has been given the all-clear by the FIA following a detailed inspection of its wind tunnel facilities after the Spanish Grand Prix to ensure it was complying with Formula 1's rules," according to Jonathan Noble of MOTORSPORT. The scale of the car upgrade that the Maranello team was able to ...

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Slim's Stakes In Pachuca, León Down 90%

The value of Mexican tycoon Carlos Slim's shares in Liga MX sides Pachuca and León "have decreased by around 90%," according to Isaid Mera of CNN EXPANSIÓN. His 30% stake in Pachuca is now worth 33.9M pesos ($2.27M), 89% less than its value of 308.3M pesos in Aug. '12, according to a f ...

Tags: Finance, North America

EPL Rights Auction Clouds Sky Shares

Shares in Sky made the "biggest loss on the FTSE 100 on Wednesday as investors and analysts weighed the implications for the pay-TV company of the sharp increase in costs" to televise the Premier League, according to Michael Hunter of the FINANCIAL TIMES. Shares in its new rival in the televised spo ...

Tags: Finance, United Kingdom

Clubs Set Winter Transfer Fee Record

FIFA's Transfer Matching System's Big 5 Transfer Window Analysis shows a new record high in transfer fees of $466M. The 2015 winter edition examines official int'l transfer figures for the Big 5 countries (England, France, Germany, Italy and Spain). The Big 5 countries recorded a total of 452 incomi ...

Tags: Finance, Europe

Serie A Parma Once Again Sold For €1

Serie A side Parma has been sold for €1 ($1.13) for the "second time in as many months, although the challenges in clearing the club's debt and paying wages remain," according to Ben Gladwell of ESPN. The "crisis-hit" club announced in a statement on its official website that Italian businessma ...

Tags: Europe, Finance

Koukash To Consider Relocated NRL Team

British billionaire Marwan Koukash will "consider investing" in a relocated Gold Coast National Rugby League team after "aborting plans to buy a stake in the Brisbane Broncos," according to Peter Badel of the Brisbane COURIER-MAIL. Koukash "detailed his investment plan" and urged the NRL to move the ...

Tags: Australia, Finance

AFL Players To Pocket Tax Breaks

Australian Football League players will "pocket tax breaks on their football income under an image rights deal ticked off by the Australian Taxation Office," according to Michael Warner of the HERALD SUN. Changes to the league's player contract rules will "allow players to divert" up to 30% of their ...

Tags: Australia, Finance

Petrolul Ploiesti Files For Insolvency

Romanian football club Petrolul Ploiesti has "filed for insolvency" as its financial base has become "unstable following the arrest of its owners and management," according to Jaroslaw Adamowski of INSIDE WORLD FOOTBALL. The side is "representative of a wider trend plaguing Romania's football, with ...

Tags: Finance, Europe

Russia Coach Capello Paid Owed Wages

Arsenal shareholder Alisher Usmanov has stepped in with an "emergency loan" so that Russia can pay national team coach Fabio Capello 400M rubles ($6M) in "back wages," according to Alec Luhn of the London GUARDIAN. The country's "richest man," a mining magnate worth an estimated $14B according to Fo ...

Tags: Finance, Russia

Caterham F1 Team Assets Up For Auction

As F1 decides whether to save one bankrupt team, "another appears to have given up the fight finally," according to Kevin Eason of the LONDON TIMES. Administrators running Caterham "have put the team’s assets up for auction, including the remaining race equipment and factory machinery." The &l ...

Tags: Finance, United Kingdom

Newcastle Jets Face Insolvency Action

The NSW Office of State Revenue "has taken insolvency action to wind up" A-League side Newcastle Jets over unpaid debts, according to Page & Keeble of the SYDNEY MORNING HERALD. The news comes just days after Owner Nathan Tinkler publicly declared that creditors were "getting paid as we speak" a ...

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