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Promotion To La Liga Quickly Impacts Bottom Line For Alavés

Published in SportsBusiness Daily Global on 12 / 09 / 16

The return of Spanish football club Alavés to La Liga this season "has meant a jump in the team's expected revenue for '16-17" to €49.3M ($52.3M), with an expected profit of €8.3M ($8.8M), according to Luis Fuentes of MUNDO DEPORTIVO. The club's TV revenue this season "has mult...

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Tags: Europe, Finance

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ASF Introduces Tax Deductible Donations

The "Bank of Mum and Dad," a major sponsor of Australian Olympic athletes, "may be soon ­superseded," according to Nicole Jeffery of THE AUSTRALIAN. The general public "can now make tax deductible donations to the Olympic and Paralympic campaigns of individual athletes through a scheme created by th ...

Tags: Finance, Australia

Vittoria Invests In Italian Start-Up Zehus

Tire manufacturer Vittoria has "further broadened its investment pool with a stake in Milan’s Zehus," a maker of a power-assist bicycle hub, according to Mark Sutton of CYCLING INDUSTRY. The Italian start-up has "enjoyed strong early industry interest, already found specced as an OEM piece on ...

Tags: Finance, Europe

Ledman Group Acquires Newcastle Jets

Football Federation Australia said on Tuesday that China’s Ledman Group purchased A-League club Newcastle Jets, according to REUTERS. The Shenzhen-based optoelectronics company, which is already a sponsor of the Chinese Super League and owns the naming rights to the Portuguese second divi ...

Tags: Asia, Australia, Finance

Finance Notes

Thai duty-free operator King Power Int'l Group "has bought a controlling stake in the Thai unit of budget carrier AirAsia " for 7.9B baht ( $224.5M ), "amid speculation of uncertainty surrounding the future renewal of the company’s retail business concessions." The acquisition "represents a ...

Tags: Finance

KPMG Severs Ties With FIFA

Accountancy firm KPMG "became the latest company to sever ties" with football's governing body when it informed FIFA that it was "dropping its account," according to Robinson & Letzing of the WALL STREET JOURNAL. The auditor’s Swiss affiliate "had signed off on scandal-hit FIFA’ ...

Tags: Finance

Murray Announces New Investments

World No. 2 Andy Murray announced he has made three further investments in British start-ups on U.K. equity crowdfunding platform Seedrs. Murray identified the three different businesses he wanted to back, investing undisclosed amounts into each. The investments include Beeline, a smart navigation d ...

Tags: Finance, United Kingdom

Azerbaijan Ticket Sales Not Up To Snuff

The sale of tickets for F1 has brought to Azerbaijan only 2% of spending on the “royal racing" in the center of Baku, according to AZERBAIJAN BUSINESS CENTER. Azerbaijan Youth & Sports Minister Azad Rahimov announced that the country spent approximately 100M Azerbaijani manats ($66.3M) "on ...

Tags: Finance, Asia

Chinese, U.S. Investors Takeover Nice

A group of Chinese and American investors bought an 80% stake in Ligue 1 club Nice, according to Matthias Galante of REUTERS. The club confirmed the news on Friday "without disclosing the fee." The club said the two principal investors are Plateno Group President Alex Zheng and NewCity Capital Found ...

Tags: Finance, Europe

Chinese Acquire Newcastle Jets

A A$5M ($3.7M) "hole in the balance sheet of Football Federation Australia" will be filled on Monday when the sale of A-League side Newcastle Jets "is confirmed to a consortium of Chinese owners," according to Tom Smithies of the Sydney DAILY TELEGRAPH. The "long-awaited sale," which for the fi ...

Tags: Australia, Finance

NRL Asking Clubs To Pay Into Sinking Fund

The National Rugby League has "taken its most ­aggressive step ever towards ensuring the viability of its clubs" by asking them to fund a A$10M ($7.4M) sinking fund, to "provide solvency statements at the end of each year and to open their books for spot audits as part of new licence agreements with ...

Tags: Finance, Australia

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