Eccelstone Case Disrupting Sale Of F1 Lim To Help Atlético Pay Mediapro Debt CL Title Won't Impact Dortmund Shares Xerex Relying On Spanish Tax Agency Deportivo Cuts Costs To Appease Judge 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
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Bernie Ecclestone's Bribery Case Seen As Disruptive To CVC's Plan To Sell F105 / 24 / 13CVC Capital Partners Ltd.’s plan to hold an initial public offering of F1 "may be hurt by a bribery investigation" involving F1 CEO Bernie Ecclestone, according to Alex Duff of BLOOMBERG. Ecclestone "is negotiating an accord" known as the “Concorde Agreement” through '20 with teams... Tags: Finance |
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JJB Sports Calls In Administrators
U.K.-based retailer JJB Sports Monday announced "it is calling in the administrators, leaving up to 4,000 workers facing possible unemployment," according to Rob Williams of the London INDEPENDENT. The retailer's shares, which had in the past been worth £10 ($16.20) a piece, were suspended, "a ...
Tags: Finance, United Kingdom
German MotoGP Race Is Not In Danger
The motorcycle world championship (MotoGP) race at the German Sachsenring racetrack "is not in danger, despite a complaint of alleged illegal financial support from the state government," according to the SID. The complaint at the European Commission, the executive body of the European Union, "conce ...
Reebok Letting Adidas Down
Adidas cut its midterm sales outlook for its Reebok brand after a license cancellation in the U.S. but said it "expects its adidas brand to compensate for the shortfall," according to Nicky Redl of the WALL STREET JOURNAL. Reebok's sales target for '15 was cut to €2B ($2.6B) from €3B ($3.9 ...
Tags: Finance, Europe, North America
Bain Capital Withdraws Billabong Bid
U.S. private equity group Bain Capital is said to have "dropped out" of the A$700M ($726M) bidding for the struggling Australian surfwear maker Billabong Int'l Ltd., leaving private-equity firm TPG as the only remaining potential bidder, according to Gavin Lower of the WALL STREET JOURNAL. Billa ...
JJB Sports Sale Hit By Tax Investigation
The sale of retailer JJB Sports "has been dealt a blow after details of a multi-million pound tax investigation by HM Revenue & Customs emerged," according to Jonathan Russell of the London TELEGRAPH. HMRC "has been looking into allegations that the company wrongly charged value" added tax ...
Tags: Finance, United Kingdom
Celtic Announce $11.4M Loss
Scottish Premier League club Celtic announced a £2M ($3.2M) increase in the club’s debt, "despite recording pre-tax profits of nearly £200,000 for the second half of '11," according to the SCOTSMAN. The club recorded a total loss of £7M ($11.4M), spending £5.24M ($8.5M) ...
Tags: Finance, United Kingdom
HSV Has Anniversary Surprise For Fans
Bundesliga club Hamburg SV "presented its fan bonds" in celebration of the club's 125th anniversary at a press conference on Tuesday, according to the DPA. The HSV "expects income of up to €12.5M ($16.3M) from the sale of its fan bonds." The club wants go ahead with the construction of a youth ...
ManU Announces $7.6M Loss
ManU has announced a "pre-tax loss of £4.7M ($7.6M) on falling revenues in the year to June," just a month after the club floated on the N.Y. Stock Exchange, according to Matthew Sparkes of the London TELEGRAPH. The loss comes after ManU reported a £12M ($19.5M) profit last year. However ...
Tags: Finance, United Kingdom
SC Freiburg Releases Financial Numbers
Bundesliga club SC Freiburg generated "a record revenue of more than" €50M ($65.3M) after revealing its financial numbers for the '11-12 fiscal year this week, according to Frank Zimmermann of the BADISCHE ZEITUNG. The club's "extraordinary high transfer revenue" of €14M ($18.3M) from the ...
Reebok Franchisees Protest In India
Days after India's government relaxed Foreign Direct Investment norms in retail, more than 150 franchisees of adidas-owned Reebok India from northern states took to the streets on Monday "demanding return of their investments," according to the PTI. The franchisees are asking the management of Reebo ...
