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Australian Football League Clubs Rebel Against Unclear Formula Behind Equalization

Published in SportsBusiness Daily Global on 07 / 31 / 15

Clubs are becoming "increasingly frustrated by a lack of transparency" from the Australian Football League over the millions of dollars "they have been forced to contribute via the controversial revenue tax," according to Greg Denham of THE AUSTRALIAN. The clubs are continuing their "strong oppositi...

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Tags: Australia, Finance

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Adidas Aims To Grow Profits By 15%

Adidas on Thursday announced an "ambitious five-year financial plan," called "Creating the New," which would see the company increase profits by 15% annually and "grow sales at a high single-digit rate," according to Allan Brettman of the Portland OREGONIAN. The company said that it "will pay" 30-50 ...

Tags: Finance, Europe

Lewis Hamilton Set To Sign $134M Deal

Lewis Hamilton "hinted he is just days away from completing the richest British driver deal in Formula One history -- and one of the biggest in the history of the sport," according to Byron Young of the London DAILY MIRROR. Speaking in Kuala Lumpur the world champion said that "he was hopeful of sig ...

Tags: Finance, Europe, United Kingdom

Lionel Messi Earns $1.5M Per Week

Lionel Messi "is the highest paid player in the world" after banking nearly £1M a week last year, according to Neil McLeman of the London DAILY MIRROR. France Football’s annual survey of wages reckons the Barcelona player earns more than £26M ($39M) in his basic salary before bonus ...

Tags: Finance, Europe

ChemChina To Buy Into Pirelli For $7.7B

China National Chemical Corp. is to buy into Pirelli, the world's fifth-largest tire maker, in a €7.1B ($7.7B) deal that "will put the 143-year-old Italian company in Chinese hands," according to Arosio & Masoni of REUTERS. The deal "is the latest in a series of takeovers in Italy by cash-r ...

Tags: Finance, Europe, China

Rangers Shareholders Plan Rights Issue

Scottish Championship side Rangers shareholders are "working on plans" for a new £10M ($14.9M) rights issue before the start of next season, according to Stephen McGowan of the London DAILY MAIL. Leading investors, including the Three Bears consortium of Douglas Park, George Letham and Ge ...

Tags: United Kingdom, Finance

Constantin Medien Improves Earnings

German media company Constantin Medien AG had a pleasing performance in the '14 financial year and clearly exceeded its original earnings target. Especially in the third and fourth quarter, the business performance developed dynamically. Group sales rose by 6.4% to €487.8M ('13: €458. ...

Tags: Finance, Europe

Botev Owner Donates While 'On The Run'

Bulgarian side Botev Plovdiv Owner Tsvetan Vasilev has "withdrawn" from the club, according to Alexander Krassimirov of INSIDE WORLD FOOTBALL. The majority shareholder at the "troubled" Corp. Commercial Bank is "transferring his assets in Botev Plovdiv to fans group Association Botev." Vasilev ...

Tags: Finance, Europe

UEFA Hikes Champions League Prize Money

UEFA said that Champions League and Europa League clubs will share more than €1.6B ($1.7B) in prize money from next season "in a huge new boost to their coffers," according to the AFP. The Champions League treasure chest will rise from €1B ($1.09B) now to €1.2B ($1.3B) "for the next t ...

Tags: Finance, Europe

China Looks For Share In Winter Sports

China's real estate companies are looking forward to having a slice of a "booming winter sports market that followed Beijing's joint bid with neighboring Zhangjiakou for the 2022 Winter Olympic Games," according to XINHUA. The past decade saw China's winter sports market "attract enormous investment ...

Tags: Finance, China, Asia

Results Boost Nike's Share Prices

Nike "rose the most in almost six months after reporting earnings that topped analysts’ estimates, helped by demand in North America," according to Matt Townsend of BLOOMBERG. The shares increased 3.7% to $101.98 at the close in N.Y., the biggest gain since Sept. 26. Nike jumped 29% in the pas ...

Tags: Finance, North America

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