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WA Premier Threatens To Sue Australian Rugby Union For More Than A$100M

Published in SportsBusiness Daily Global on 08 / 22 / 17

The Western Australia government "threatened to bankrupt the Australian Rugby Union if the Western Force are not reinstated," according to the AAP. WA Premier Mark McGowan said that the state government is "getting legal advice" and the options include suing for restitution of more than A$100M ($79....

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Tags: Australia, Finance

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Aberdeen Stresses Need For New Stadium

Scottish Premiership side Aberdeen Vice-Chair George Yule "warned the club could go to the wall" if the proposed move to a new £50M ($62.9M) stadium plan fails, according to Andrew Southwick of the Scotland DAILY RECORD. The Pittodrie board last week "lodged plans to relocate to Kingsford," mo ...

Tags: United Kingdom, Finance

EPL Clubs Spent £80M On Injured Players

Premier League clubs paid almost £80M ($100M) in "wages to injured stars during the first half of this season" -- with Man City taking a £9.2M ($11.5M) "hit on out-of-action players," according to Adam Shergold of the London DAILY MAIL. Pep Guardiola's team "suffered 17 injuries between ...

Tags: Finance, United Kingdom

Int'l Football Clubs Spend Record $4.8B

Chinese football clubs "splashed out" more than $450M in transfer fees last year, a spree that "helped global spending on the acquisition of players reach a record high," according to Murad Ahmed of the FINANCIAL TIMES. According to FIFA’s Transfer Matching System, the total spent on tran ...

Tags: Asia, Finance

Manor Formula 1 Team Folds

The Manor Formula 1 team "has folded after going into administration and failing to find a buyer," leaving the sport with 10 teams two months before the start of the season in Australia, according to Alan Baldwin of REUTERS. Administrators FRP Advisory said that while a separate entity that hol ...

Tags: Europe, Finance

Finance Notes

The 145th Open championship at Royal Troon delivered more than £110M " worth of benefit to Scotland , an independent study has found." The tournament attracted 173,000 spectators to the Ayrshire coastline in '16. It delivered an economic impact of more than £64M, according to the stu ...

Tags: Finance

Bundesliga Posts Turnover Of €3.24B

The Bundesliga on Thursday announced a record turnover of €3.24B for the '15-16 season, up by almost 24% compared to a year earlier "thanks to a rise in media and advertising revenues as well as transfer cash," according to Karolos Grohmann of REUTERS. The German Football League (DFL), whi ...

Tags: Europe, Finance

Ecclestone To Hold On To .5% Of F1

Bernie Ecclestone and WPP CEO Martin Sorrell, two of Europe’s "most well-known" businessmen, are among a "handful" of execs to have reaped a $40M payoff from the sale of Formula 1 to Liberty Media, according to Christian Sylt for the London GUARDIAN. Most of the shareholders "are not ...

Tags: Finance, Europe

Sky's Operating Profits Drop 9%

Sky has "paid the price for the steep inflation in live football rights" as it suffered a 9% drop in operating profits in the past six months, according to David Bond of the FINANCIAL TIMES. The European pay-TV broadcaster paid £4.2B ($5.3B) for the latest three-year deal to show live Pre ...

Tags: Finance, United Kingdom

CSL Side Guoan Worth More Than $800M

Chinese Super League side Beijing Guoan has been sold to a local property developer at an equity valuation of more than $800M, "suggesting it is worth more than European giants such as AC Milan and Atlético Madrid," according to Bland & Ahmed of the FINANCIAL TIMES. The high price put on ...

Tags: Finance, Europe, China

Everton, Fulham Sign With SportsRISQ

SportsRISQ, the London-based company that provides structured finance products to the sports sector, has signed English Premier League club Everton and League Championship side Fulham to its new platform, the RISQ performance dashboard, a new business intelligence tool designed for football club exe ...

Tags: Finance, United Kingdom

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