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ICC Offer 'Far Less Than What India Deserves,' BCCI Secretary Says

Published in SportsBusiness Daily Global on 05 / 01 / 17

Board of Control for Cricket in India acting Secretary Amitabh Chaudhary said that the $400M offer presented by the Int'l Cricket Council to India is "far less than what the country deserves," considering the BCCI's "contribution to global cricket revenues," according to ANI. On why he did not agree...

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Tags: Asia, Finance

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ARU Balking At SRU Bailout

The Australian Rugby Union is "baulking at paying" A$500,000 ($380,150) to bail out the Sydney Rugby Union on a deal with Channel Seven for the Shute Shield to be televised free-to-air next season, according to Wayne Smith of THE AUSTRALIAN. It is understood that the five-year deal, which is only en ...

Tags: Finance, Australia

Lippi To Net Million From CSL Club

Marcello Lippi will earn almost $5M a year as China coach but "will pocket far more through a tie-in with a football academy," according to the AFP. The 68-year-old Italian was named boss of the national team by the Chinese FA on Saturday and has the tricky goal of steering the Asian country "to qua ...

Tags: Finance, China

Hong Kong Firm Ready To Buy Hull City

A Hong Kong-based professional services company said that it has "agreed to buy" Premier League side Hull City for £130M ($159M), according to Panja & Hellier of BLOOMBERG. GreaterChina Professional Services Ltd.’s agreement is the "latest foray" into European football by China- ...

Tags: Finance, United Kingdom, Asia

Munich Has Highest Payroll In DEL

German Hockey League (DEL) club EHC Red Bull Munich "has the largest payroll in the league," according to Gabriel Wagner of SPONSORs. The difference between Munich and the club with the league's smallest payroll is €9M ($9.9M). The defending German champions have an estimated payroll of €1 ...

Tags: Finance, Europe

Nottingham Forest Owner Seeks £1M Salary

Fawaz al-Hasawi, the "increasingly beleaguered" owner of League Championship side Nottingham Forest, has been "asking potential buyers of the club for an annual salary" that could rise above £1M ($1.23M) and a series of financial demands that include an "extraordinary clause entitling him to w ...

Tags: Finance, United Kingdom

Durham Cricket To Get Rescue Package

Durham County Cricket Club agreed to a "financial rescue package with Durham County Council over the debts" that led to its relegation this season, according to the BBC. The council's loans of £3.74M ($4.6M) to the club "have been converted into shares." Durham was relegated from County C ...

Tags: Finance, United Kingdom

Surprise Football Results Lift Ladbrokes

Faltering starts to the new football season by ManU and Barcelona helped U.K. bookmaker Ladbrokes achieve a "double-digit boost to revenues -- its fourth consecutive quarter of growth," according to Paul McClean of the FINANCIAL TIMES. Surprise football scores "helped to offset customer-friendl ...

Tags: Finance, United Kingdom

Hong Kong's MEF Faces Unclear Future

The Hong Kong government’s Mega Events Fund -- "which provides major financial backing" for a number of int'l sports events including HK$15M ($1.93M) for December’s UBS Hong Kong Golf Open -- is "unlikely to exist when its five-year term expires in March," an official said, according to ...

Tags: Finance, Asia

Man City Announces £20.5M In Profit

Man City made a £20.5M profit on record income in '15-16, the "second consecutive financial year in which the club, owned by Sheikh Mansour bin Zayed al- Nahyan, has made a profit," according to David Conn of the London GUARDIAN. Man City announced it earned £391.8M "from TV-ri ...

Tags: Finance, United Kingdom

McCourt Officially Purchases OM

American investor Frank McCourt has become the new owner of Olympique de Marseille “after finalizing the purchase on Monday,” according to Baptiste Desprez of LE FIGARO. The sale, estimated to be worth €45M ($49.5M), “starts a new era for the club.” Newly appointed OM Pr ...

Tags: Finance, Europe

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