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Tour De France A Bargain For Sponsors As Team Sponsorships Drop 50%

Published in SportsBusiness Daily Global on 07 / 29 / 14

The Tour de France "is a bargain for sponsors, courtesy of Lance Armstrong," according to Danielle Rossingh of BLOOMBERG. The event "could once demand large investments from potential backers." Hilversum, Netherlands-based sports marketing consultant Frank van den Wall Bake said that tainted by dopi...

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Tags: Marketing and Sponsorship, Europe

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Spanish Clubs Reduce Debts By $213M

Spanish football clubs in La Liga and the second division reduced by €156.8M their debts with Spain's tax authorities from Jan. 1, 2012 through May 31, 2013, according to the EFE. This figure represents a 20.8% reduction, from €752.2M in Jan. '12 to €595.4M as of May '13.The decrease ...

Tags: Europe, Finance

Santos Takes Action Over Neymar Deal

Neymar's former club Santos has "sought a Brazilian court injunction to get access to all the documents relating to the player's controversial transfer to Barcelona last summer," according to Dermot Corrigan of ESPN. The Brazilian club has contacted both Barça and Neymar's father to "try to ...

Tags: Finance, Brazil

ManU Posts £123M 2nd Quarter Revenue

ManU Exec Vice-Chair Ed Woodward announced that the club has "posted a record second-quarter revenue" of £122.9M ($204M), but admitted that "everyone from the team manager down" has acknowledged that the start to Manager David Moyes' "career at Old Trafford has been disappointing," according t ...

Tags: Finance, United Kingdom

Allianz Aquires 8% Stake In Bayern Munich

Insurance company Allianz is paying €110M ($150M) for an 8.33% stake in Bundesliga side Bayern Munich, according to the SID. Both sides "confirmed the deal on Tuesday evening." Bayern Munich President Uli Hoeneß said, "Today is a great day for FC Bayern. We have unanimously made this deci ...

Tags: Finance, Europe

CSKA Sofia To Offer Public Shares

CSKA Sofia President Alexander Tomov "has announced the club will launch the sale of 3 million shares in the Bulgarian club," according to Alexander Krassimirov of INSIDE WORLD FOOTBALL. He "is targeting both fans and institutional investors with the share offering, though has not revealed a price a ...

Tags: Finance, Europe

Camera Maker GoPro Zooms In On IPO

Camera manufacturer GoPro, the "maker of small action cameras beloved of surfers and snowboarders, on Friday broadcast its plans for a multibillion-dollar initial public offering," according to Bradshaw & Massoudi of the FINANCIAL TIMES. One "person close to the process" said that the company i ...

Tags: Finance

AFL Seeking Level Financial Playing Field

The Australian Football League is providing A$34M ($30.5M) of bank guarantees on "behalf of its clubs, in some cases to enable cash-stricken operations to pay their bills and convince auditors they remain commercially viable," according to Le Grand & Danckert of THE AUSTRALIAN. As Australia's "r ...

Tags: Finance, Australia

Inter Milan Owner Denies D.C. United Sale

Serie A Inter Milan President Erick Thohir on Friday denied rumors he is "considering the sale of his share" in Major League Soccer club D.C. United to raise funds for his current club, according to Gladwell & Carlisle of ESPN. Thohir said in a statement, "I would like to reaffirm the position o ...

Tags: Finance, Europe

21st Centry Fox Earnings Down

Gains at 21st Century Fox's cable networks were "offset by declines" in its movie, broadcast and direct-broadcast satellite businesses during its second fiscal quarter, according to Jon Lafayette of BROADCASTING CABLE. Net income fell 50% to $1.2B, or 53 cents a share, from $2.4B, or $1.01 a share a ...

Tags: Finance, North America

THW Kiel Loses Close To Half A Million

Handball Bundesliga (HBL) club THW Kiel "has lost close to half a million euros during the '12-13 fiscal year," according to NDR. The club reportedly lost €443,000 during the previous season. The number means that Kiel "has lost more than €1M over the past three years." The club "refused t ...

Tags: Finance, Europe

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