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U.K.'s Jockey Club Announces Record-Setting Profit Increase Of 11% In 2013

04 / 18 / 14

The Jockey Club, which stages "some of British horseracing's most famous events including the Cheltenham festival and the Grand National, announced record financial results," according to Stephen Wood of REUTERS. The group, the "largest commercial operation in the sport in Britain," increased its tu...

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Tags: Finance, United Kingdom

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09/27/13
Sources: IMG Bids Due Next Week

The first round of bids to buy IMG are due next week, according to sources familiar with the sales plan for the company. Buyers interested in acquiring the sports and entertainment firm have been asked to submit interest documents between Monday and Wednesday. Initial offers will be reviewed by a to ...

Tags: Finance

09/27/13
Finance Notes

Dutch champions Ajax Amsterdam announced a profit of €18.2M ($24.58M) for the '12-13 financial year on Thursday, "attributing it to the sale of leading players." It is a considerable increase on the profit of €8.5M one year earlier, and the club said in a statement that it "expected a larg ...

Tags: Finance

09/26/13
WRU Invest To Prevent Player Exodus

The Welsh Rugby Union is hoping that "increased investment in coaching and facilities will help to keep their leading international players in Wales," according to John Westerby of the LONDON TIMES. The WRU’s annual report, which was published Wednesday, "shows an increased investment in facil ...

Tags: Finance, United Kingdom

09/26/13
Juventus Grows Revenue, Reduces Loss

Serie A side Juventus "increased revenue" by 32.8% in the last financial year, but "still recorded a loss" of €15.9M, according to FOOTBALL ITALIA. Although it closed with a loss of €15.9M, this "was significantly less" than the €48.6M of the previous financial year. Much of that was ...

Tags: Finance, Europe

09/25/13
Russian Fund Banks On Sports

Russian investment group Kapital, owned by FC Spartak's Owner Leonid Fedun, has launched a sports investment fund that allows Russian individuals to invest in stock of major sports teams, sports apparel manufacturers, etc. The new fund, Capital, the World's Sports Industry, said it intends to offer ...

Tags: Finance, Russia

09/25/13
Celtic Reports Pre-Tax Profit Of $16M

Scottish Premiership side Celtic has "recorded a pre-tax profit of almost" £10M ($16M), according to the Glasgow EVENING TIMES. The club's annual figures show a 48% jump in group revenue to £75.8M ($121M), "boosted by their European success." The Scottish champions announced a profit bef ...

Tags: Finance, United Kingdom

09/25/13
Spanish Council To Give Federations $50M

Spain's Superior Sports Council (CSD) will increase the money available to Spain's national sports federations by €5M ($6.7M) in '14, according to the EFE. The "sum designated for the federations" will be €36.8M ($50M) and this amount, which will be included in the CSD's budget, "marks a 2 ...

Tags: Europe, Finance

09/24/13
LFP President OKs Third-Party Ownership

Spanish Football League (LFP) President Javier Tebas "has moved to encourage third-party investment in the domestic game, a move at odds with UEFA’s drive to eradicate such business models," according to SOCCEREX. Tebas’ "comments came at a meeting concerning the use of investment funds ...

Tags: Finance, Europe

09/24/13
UEFA Withholds Prize Money From Six Clubs

UEFA "has suspended prize money payments to six teams in its latest move to force clubs to behave in a financially responsible manner," according to Brian Homewood of REUTERS. UEFA said that the six clubs "had outstanding payments owed to other clubs, employees, social security or tax authorities." ...

Tags: Finance, Europe

09/23/13
Adidas Cuts Profit Forecast For 2013

Adidas has cut its '13 profit forecast "for reasons that include Russian distribution difficulties and a weak golf market," according to Jarvis & Cruz of BLOOMBERG. The company's shares slid as much as 5.9% to €77.71 ($105), "the steepest intraday drop" since June '12. Adidas "reduced the l ...

Tags: Finance, Europe

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