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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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OFI Crete Withdraws From Super League

OFI Crete President Nikos Machlas labeled the Greek Super League as a "wretched championship" after the crisis-hit club was "forced to withdraw from Greece's top flight on Saturday because of mounting debts," according to Graham Wood of REUTERS. OFI has repeatedly "broken league rules since the star ...

Tags: Finance, Europe

J.League Revenue Climbs In '14

Revenue at the J.League organization grew 6% to 12.3B yen ($101.5M) last season, thanks to higher income from broadcasting, merchandise and expansion to a third division, with stronger growth on the cards for this year. Merchandising income jumped 14%, largely due to a number of big clubs vying for ...

Tags: Finance, Japan

FIFA Makes Record Revenue Of $2B

The World Cup’s commercial power led to record revenue of $2B for FIFA last year, with $337M in profits "coming from the four-year cycle" leading up to the 2014 tournament in Brazil, according to the AP. FIFA, which pocketed $140.7M in profit in '14 alone, added $91M to its reserves, "which no ...

Tags: Finance

TLA Acquires Elite Sports Properties

Talent agency TLA Worldwide on Thursday announced the acquisition of Elite Sports Properties in a deal worth up to $19.5M. Under terms of the deal, TLA is paying an initial $10.3M for the Australia-based agency. The amount will be split up into a cash payment of $7.7M along with the allocation of mo ...

Tags: Finance, Australia, North America, United Kingdom

BMI To Provide Additional Funds Until '19

Germany's Interior Ministry (BMI) will continue to allocate €15M ($16M) in additional support toward elite sports, according to the SID. Politician Martin Gerster, who is in charge of the corresponding budget, said, "We decided the allocate the addition €15 million until 2019." The BMI, wh ...

Tags: Finance, Europe

Li Ning Suffers Third Straight Annual Loss

Chinese sportswear brand Li Ning announced its "third consecutive annual loss as it continues to bear the costs of a restructuring," according to Patti Waldmeir of the FINANCIAL TIMES. The company, "which has struggled to shake off the image of a producer of cheap sports shoes that are little more t ...

Tags: Asia, Finance

Betis Players Could Earn $3.2M Bonus

Spanish second division side Real Betis "has agreed to bonuses for its players" if the club earns promotion to La Liga, according to José A. Espina of AS. The negotiation "has been delayed a little bit," but there are now "logical figures considering the club's economic situation." Players wi ...

Tags: Finance, Europe

FFP Rules To Soften For Clubs In Crisis

UEFA is prepared to soften its Financial Fair Play rules for Russian and Ukrainian clubs "that are being battered by their countries' economic problems," according to James Ellingworth of the AP. With the Russian and Ukrainian currencies having "dropped sharply in value over the last year and the tw ...

Tags: Finance, Russia

Hedge Fund Challenges TPO Ban

A London-based hedge fund "filed a complaint with a Paris court seeking to overturn a ban" on investors acquiring football player transfer rights, according to Alex Duff of BLOOMBERG. Doyen Sports Investments Ltd., a unit of Doyen Capital LLP, is accusing football authorities "of breaking several Eu ...

Tags: Finance, Europe

Girona President Talks Owed Payments

Spanish second division side Girona's players are "beginning to lose patience because they have not been paid for two months," according to Marc Bernad Suelves of AS. Girona President Francesc Rebled "asked for calm because the payments will be made." Rebled: "The situation that we have economically ...

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