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Gao Receives China-Backed Bank Funding For Southampton Takeover

Published in SportsBusiness Daily Global on 08 / 18 / 17

Premier League side Southampton's new owner funded his £200M ($257.5M) takeover of the club "with a loan from a Chinese government-backed bank in Hong Kong," people familiar with the matter said, according to BLOOMBERG. A Chinese investor g...

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Open Prize Fund May Be In Dollars

The 146th Open Championship "could be the first in the event’s history" to offer prize money in U.S. dollars due to a "weak pound in the wake of the Brexit vote," according to Martin Dempster of the SCOTSMAN. R&A CEO Martin Slumbers said that he is "considering the change in an effort ...

Tags: Finance, United Kingdom

MEP Wants More Details About F1 Sale

British MEP Anneliese Dodds asked the FIA to "give a more detailed account as to why it accepted payments following the completion of Formula 1's sale to Liberty Media," according to Lawrence Barretto of MOTORSPORT. F1's governing body gave its approval for the sale of F1 to Liberty Media last month ...

Tags: Finance, United Kingdom

Cavendish Invests In Science In Sport

Pro cyclist Mark Cavendish reportedly invested a six-figure sum into Science in Sport "ahead of the firm's drive further into Europe and the U.S.," according to Mark Sutton of CYCLING INDUSTRY NEWS. Confirmed by SIS CEO Stephen Moon, Cavendish’s investment "comes in tandem with news that ...

Tags: Finance

NZ Club Looking To Crowdfund CL Trip

New Zealand Football Championship side Team Wellington needs NZ$25,000 ($17,915) to "cover an Oceania Champions League budget shortfall," just six days before its first match of the competition, according to Liam Hyslop of STUFF. Club Chair Peter Chote wrote on the club's website on Monday "asking f ...

Tags: Finance, New Zealand

French Ski Companies Win Chinese Deals

Two French ski companies announced deals with Chinese firms to "help to develop ski resorts in China," where winter sports are "becoming popular" ahead of the 2022 Beijing Winter Olympics, according to Alan Charlish of REUTERS. Ski-resort equipment maker Montagne et Neige Developpement agreed to a " ...

Tags: Asia, Europe, Finance

England's Ben Stokes Sets Record

England cricketer Ben Stokes "has become the highest paid overseas cricketer" in the 10-year history of the Indian Premier League after securing a £1.7M ($2.1M) contract during Monday's auction, according to Ali Martin of the London GUARDIAN. His int'l teammate, Tymal Mills, "was another big w ...

Tags: Finance, India

Finance Notes

Jockey Club Racecourses Group Managing Dir Paul Fisher believes " all levels " of racing will benefit from a planned year-on-year increase of   £2.1M ($2.6M) in prize money in '17. A total of £22.9M ($28.5M) will be contributed by JCR this year, split between £11.6M ($14 ...

Tags: Finance

Mourinho Thinks £89M Will Soon 'Look Cheap'

ManU Manager José Mourinho "believes inflation in the transfer market in the summer will leave Paul Pogba’s world record transfer fee looking like a bargain" and the £89M midfielder "will be all the better for it," according to Paul Wilson of the London GUARDIAN. Mourinho said, "I ...

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AFL Records Net Loss In '16

The Australian Football League "suffered a net loss" in '16, while league CEO Gillon McLachlan's annual pay packet rose to A$1.74M ($1.34M), according to the AAP. In annual financial results released on Friday, the AFL recorded a net loss of A$17.8M ($13.7M) last year after grants and distributions ...

Tags: Finance, Australia

FIA Denies Conflict Of Interest In Sale

The FIA "denied suggestions that it acted incorrectly" by approving the sale of the Formula 1 business to Liberty Media "while benefiting from its own" 1% stake in the business, according to Adam Cooper of MOTORSPORT. British MEP Anneliese Dodds, who has "regularly voiced her suspicions about anti-c ...

Tags: Europe, Finance

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