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Staveley Says Reuben Brothers Were Among Co-Investors In Failed Newcastle Bid

Published in SportsBusiness Daily Global on 01 / 19 / 18

A "major British family investor," the first to be named by businesswoman Amanda Staveley as a financial backer of her £250M ($347.3M) bid to buy Premier League side Newcastle United, said that it is no longer "planning to invest in the club,...

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Tags: United Kingdom, Finance

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William Hill Suffers Setbacks

A "poor run of football results and an expected crackdown on credit betting in Australia" sent bookmaker William Hill "sliding on Monday," according to Bryce Elder of the FINANCIAL TIMES. Australia's government last week "set out proposals to ban bookmakers' loans and shut down existing credit accou ...

Tags: Australia, Finance, United Kingdom

ACB Club Valencia Presents Budget

Spanish Basketball League (ACB) club Valencia, "which has already renewed several players' contracts and made one signing since winning the '16-17 championship," announced its budget for '17-18 will increase by 10-15%, according to Julián Burgos of AS. The club's '16-17 budget was & ...

Tags: Europe, Finance

ASF Expects To Raise $33M

Sporting organizations "are being encouraged to go directly to the community rather than rely solely on the government to address the funding crisis" as the Australian Sports Foundation revealed it expects to raise A$44M ($33.4M) this financial year for sporting projects, according to Nicole Jeffery ...

Tags: Australia, Finance

Circuit Of Wales Proposal Rejected

The Circuit of Wales project "has taken a major hit" after the Welsh Government decided against offering the financial guarantee needed to build the prospective British MotoGP venue, according to Mitchell & Benyon of MOTORSPORT. Welsh Economy & Infrastructure Cabinet Secretary Ken Skate ...

Tags: Finance, United Kingdom

Wellington Expects NZ$30M From Tour

British & Irish Lions fans set to converge on Wellington, New Zealand, are expected to inject NZ$30M ($21.9M) into the regional economy during their week-long stay, according to Collette Devlin of STUFF. The Wellington Regional Economic Development Agency estimated that "when the sold-out test m ...

Tags: Finance, New Zealand

EuroLeague Ordered To Pay FIBA $1M

A Luxembourg court ruled in favor of FIBA Europe in the conflict between the continental organization and EuroLeague , ordering the latter to pay FIBA Europe €900,000 ($1M), according to EL PAÍS. In '04, FIBA and the Union of European Basketball Leagues (ULEB) "signed a commercial agree ...

Tags: Europe, Finance

Hazard Becomes Part Owner Of NASL Side

Eden Hazard is "following in the footsteps" of former Chelsea teammate Didier Drogba by becoming part owner of a new football club in the U.S., according to Bob Williams of the London TELEGRAPH. Hazard "teamed up" with fellow pros Demba Ba, Yohan Cabaye and Moussa Sow -- as well as local i ...

Tags: Finance, United Kingdom, North America

Leyton Orient Takeover Complete

National League side Leyton Orient has been bought by business consortium Eagle Investments 2017 Ltd., "ending Francesco Becchetti's controversial reign at the club," according to Lyall Thomas of SKY SPORTS. Nigel Travis, who heads Eagle Investments, will take over as chair and his board of director ...

Tags: Finance, United Kingdom

Rangers Fan Group Ousts Mike Ashley

Scottish Premiership side Rangers supporters "forked out" £1M ($1.3M) to rid their club of Mike Ashley and "become the second biggest shareholders at Ibrox," according to Gary Ralston of the Scotland DAILY RECORD. Fan group Club 1872 "bought half of the Sports Direct tycoon’s shareholdin ...

Tags: Finance, United Kingdom

BCCI, ICC Agree To New Finance Model

The BCCI and Int'l Cricket Council "finally reached an agreement on a new finance model," according to Nagraj Gollapudi of ESPN.com. The "bare facts" are the BCCI will receive "a little over" $100M more than what was agreed upon by a "vast majority" of the ICC board in meetings in April and "most of ...

Tags: Finance, Asia

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