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Executive Transactions

Published in SportsBusiness Daily Global on 11 / 26 / 14

The Greek Super League elected Asteras Tripolis President GIORGOS BOROVILOS as president on Monday "after he secured 13 votes out of the 16 teams in the league," with Panthrakikos President DIMITRIS TZELEPIS elected as his deputy ( REUTERS, 11/25 ). ... The NBA announced that JAN MENNEKEN h...

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Adidas Shares Experience Record Plunge

Adidas shares "fell by a record after the world’s second-largest sporting-goods maker slashed its full-year profit forecast, bursting euphoria around the German company less than a month after its national team’s victory in the World Cup," according to Aaron Ricadela of BLOOMBERG. Adidas ...

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ITV's First-Half Pre-Tax Profit Jumps 40%

ITV has reported a 40% rise in pre-tax profits to £250M ($423M) in the first half, fuelled by the World Cup in Brazil that resulted in a "TV ad revenue surge of 13% in the second quarter," according to Mark Sweney of the London GUARDIAN. The broadcaster increased total revenues across its busi ...

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Twitter Reports Revenue Up 124% In Q2

A "surge in user activity during the World Cup and the launch of products designed to attract advertising helped Twitter to report a spectacular rise in revenues" on Tuesday night, according to Alexandra Frean of the LONDON TIMES. Shares in the "microblogging company soared" 31% to $50.70 in after-h ...

Tags: Finance

Barça Closes '13-14 With €530M Revenue

Barcelona closed the '13-14 season with club record income of €530M, the first time its end-of-year figure has exceeded €500M. Barcelona Economic VP Javier Faus announced that the team's profit for the year amounted to €41M ($55M), a figure topped only by the €49M profit that Bar ...

Tags: Finance, Europe

LFP Announces €165M Decrease In Debt

The Spanish Football League (LFP)'s debt to Spanish tax authorities stands at €482M ($646.4M) as of June 30. The amount owed was €647M at the conclusion of the '12-13 season -- meaning the debt has been reduced in the past year by €165M, a 25% decrease ( LFP ). EL PAIS reported the LF ...

Tags: Europe, Finance

World Cup Sales, Arsenal Deal Lift Puma

Puma said that sales of World Cup boots and "national team shirts as well as new Arsenal jerseys beat its expectations as it reported second-quarter earnings that fell less than feared and reiterated its outlook," according to Emma Thomasson of REUTERS. Puma is "trying to restore its reputation for ...

Tags: Finance, Europe

BVB Targets Investors To Boost Salaries

Bundesliga side Borussia Dortmund "is seeking new investors to help boost salaries and close the gap on teams including Bayern Munich," according to Tino Andresen of BLOOMBERG. Dortmund Managing Dir Hans-Joachim Watzke said that Germany’s only publicly listed football club, known as BVB, "is t ...

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Judge Orders Messi Case To Proceed

A Spanish judge has "rejected a recommendation from the state prosecutor that accusations of tax fraud against Lionel Messi be dismissed," according to the EFE. A lawsuit was filed against Messi and his father, Jorge, in June '13 for "allegedly defrauding Spain's tax authorities" of m ...

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Sky Moves Into Europe In $9B Deal

Sky has agreed to pay 21st Century Fox £5.3B ($9B) for its German and Italian satellite broadcasting interests, "in a bid to create a 'world-class multinational pay TV provider,'" according to Alex Spence of the LONDON TIMES. The deal would help "boost Fox's hopes of acquiring its rival Time W ...

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South African FA Expecting Annual Profit

The South African FA expects to make a "complete financial turnaround and even report a profit when the final numbers are tallied by auditors for the year ended June 30," according to Mninawa Ntloko of BD LIVE. SAFA reported a loss of 46M rand in the '12-13 financial year, but SAFA CEO Dennis Mumble ...

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