SAFA Owes Second Division $500K Finance Notes Business Rates Are Lord's Next Big Test Nottingham In Talks With New Backers F1 IPO On Track Despite Legal Issues 'Fergie Factor' Worth $1.5B Seven F1 Teams Can't Afford New Engines U.K. Tax Authority Targets Coaches Finance Notes Puma Cuts Full-Year Profit Forecast
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South African FA Owes Second Division Clubs More Than $500K For Last Season05 / 22 / 13The South African FA "allegedly owes second division clubs" close to R5M ($524,000) for the '12-13 season, according to Sello Rabothata of SOWETAN LIVE. Though it "has been at pains to tell all and sundry that it is in a healthy financial position," the association owes all 144 second division clubs... |
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Armstrong Unlikely To Lose His Fortune
Lance Armstrong "may have to pay back more than $3M in prize money, but he is still a rich man," according to Helen Pow of the London DAILY MAIL. Experts believe that "he will stay that way, despite his spectacular fall from grace." The embattled cyclist "has an estimated net worth of $125M, most of ...
Tags: Finance, United Kingdom
Hearts Face 'Drastic' Cost-Cutting Measures
Scottish Premier League club Heart of Midlothian FC Dir Sergejus Fedotovas described slow sale of shares in the team as "an alarm," according to Paul Forsyth of the SCOTSMAN. Fedotovas continued that "all previous efforts to raise revenue had been exhausted, and that the only other option in a diffi ...
Tags: Finance, United Kingdom
Ecclestone Faces Being Sued By Bank
F1 CEO Bernie Ecclestone "faces being sued for $400M" by the German bank BayernLB, which "is demanding compensation over the sale of F1 to the equity company CVC in '06," according to Paul Weaver of the London GUARDIAN. BayernLB, which has approached Ecclestone's lawyers in Germany, "claims that its ...
Arsenal Payout Not Ruled Out
Arsenal majority shareholder Stan Kroenke "declined to rule out introducing a dividend policy, as the club’s directors struggled to contain fans’ anger at the team’s trophy-less record of recent years and indifferent form this season," according to Roger Blitz of the FINANCIAL TIME ...
Tags: Finance, United Kingdom
Nike Fined $780K For China 'Fakes'
Nike has been fined 4.87M yuan ($779,000) for selling sneakers in China "at a higher price and of a lower standard," according to the CHINA DAILY. Nike set the price for one of its basketball sneakers, which it advertised with double air cushions inside, at 1,299 yuan ($208) in China, "more than 500 ...
Dundee Cuts Debt, Posts Profit
Scottish Premier League Dundee United's financial results for the year to June show the club posted a profit of £1.45M ($2.2M), with "bank debt and directors' loans having been reduced," according to the BBC. Revenue suffered a 3% fall to £5M ($8M), and the percentage of wages to turnove ...
Tags: Finance, United Kingdom
Nike To Sell Umbro For $225M
Iconix Brand Group has agreed to buy Nike’s Umbro sports apparel and footwear unit for $225M in cash, "marking the fashion brand’s second deal with the U.S. sportswear group," according to Anjli Raval of the FINANCIAL TIMES. Umbro, the U.K.-based brand that sponsors the England football ...
Tags: Finance, United Kingdom, Nike
ManU Wants To Continue With Nike
ManU will be looking to negotiate Nike's biggest sponsorship deal "when they begin renewal talks over Old Trafford kit supply in February," according to Charles Sale of the London DAILY MAIL. The 13-year Nike agreement with ManU that expires in '15 is worth £303M ($486M), "plus a profit share ...
Tags: Finance, United Kingdom, Nike
Puma Profits Plunge In 3Q
Puma "is considering more short-term cost cuts in a fresh sign of the sports goods maker’s struggle for fitness amid the economic slowdown," according to James Wilson of the FINANCIAL TIMES. In "a period when its biggest contracted star -- Jamaican sprinter Usain Bolt -- shone" at the London ...
Billabong Founder Survives Vote
Surfwear company Billabong majority shareholder & Founder Gordon Merchant and board member Colette Paul have been re-elected to the company's board "despite calls for them to be dumped," according to Bridie Jabour of the SYDNEY MORNING HERALD. The Australian Shareholders Association had "recomme ...
