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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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11/17/14
La Liga Side Levante Reveals Budget

La Liga side Levante will present a budget for the '14-15 season of nearly €32M ($40M), with projected profit of €8.5M ($10.6M), according to the EFE. This prediction includes as much as €700,000 ($876,600) that "could be spent strengthening the team in the winter transfer market." Le ...

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11/14/14
Chelsea Reports Profit Of $29M

Chelsea has announced a profit of £18.4M ($29M) for the year ending June 30, the "largest since Russian oligarch Roman Abramovich took over the club 11 years ago," according to Steve Tongue of REUTERS. There was also a record turnover of £319.8M ($502M). But although transfer receipts of ...

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11/14/14
DEB VP Calls Financial Situation 'Alarming'

Related story:  DEB Counts On DEL For Help German Hockey Federation (DEB) VP Daniel Hopp "wants to include the clubs of the German Hockey League (DEL) and DEL2 in the battle to reorganize the crisis-hit federation," according to the SID. The 34-year-old, who is also a shar ...

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11/14/14
PSG Backers File Antitrust Complaint

Thirty-five supporters of Ligue 1 side Paris St. Germain "filed an antitrust complaint with the European Union" against UEFA's regulation that "big-spending teams must come close to breaking even," according to Gaspard Sebag of BLOOMBERG. The fans' lawyers, Jean-Louis Dupont and Martin Hissel, said ...

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11/13/14
Scotland's Aberdeen Reduces Net Debt

Scottish Premiership side Aberdeen on Wednesday celebrated a "remarkable result" as their annual report revealed a "staggering" £14.49M ($22.9M) is to be "wiped from their net debt," according to Gregor Kyle of the Scotland DAILY RECORD. The result was announced "in the early hours" of We ...

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11/13/14
Formula One May Delay IPO Plans

Formula 1 "may be forced to delay plans" for an initial public offering a second time after two teams sought protection from creditors, according to Alex Duff of BLOOMBERG. The collapse of Marussia, which said on Nov. 7 that it fired 200 workers, and a struggle by Caterham to make the Nov. 21 season ...

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11/13/14
Finance Notes

League Championship side Leeds United has "staved off a winding-up order from former director Melvyn Levi." Leeds-based law firm Ford & Warren last week filed the petition for unpaid fees -- reported to be around £150,000 ($237,000) and dating back to when Ken Bates owned the club -- on be ...

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11/13/14
Ashley Gives Scottish Rangers $1.6M

Scottish Championship side Rangers shareholder Mike Ashley has stepped in with another £1M ($1.58M) "bail-out" for the "crisis club" and has given up the naming rights to Ibrox Stadium, according to Gregor Kyle of the Scotland DAILY RECORD. A new marketing deal, welcomed by the board as a "vis ...

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11/12/14
3rd League Generates Record Revenue

Germany's 3rd League "generated record revenue" during the '13-14 season, according to the SID. The league's clubs generated more than €165M in total revenue and "for the first time in its six-year history the league made a profit." It means that each of the 20 clubs generated an average of &eu ...

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11/12/14
Hertha Reports Profit Of €13.4M In '13-14

Bundesliga side Hertha Berlin "recorded a profit for the first time in several years," according to the SID. The club, which currently ranks 14th in the league table, generated a profit of €13.4M in the fiscal year ending June 30. The positive result "is largely due to investment of finance inv ...

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