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F1 Singapore IPO On Track Despite Legal Issues Of CEO Bernie Ecclestone05 / 20 / 13A source close to private equity firm CVC Capital said that the company is targeting a $12B market capitalization for F1 "in its planned flotation on the Singapore stock exchange," according to Sylt & Reid of the London GUARDIAN. The initial public offering (IPO) of F1 "is on track to take place... |
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Blackburn Pay Berg For Unfair Dismissal
League Championship club Blackburn Rovers have been ordered to pay £2.25M ($3.5M) to former Manager Henning Berg "after he won a claim against the club at court," according to James Riach of the London GUARDIAN. Berg was sacked in December after just 57 days in charge, but "will now be paid f ...
Tags: Finance, United Kingdom
Williams F1 Loses $7.7M In '12
Williams Grand Prix Holdings PLC, which includes Williams Grand Prix Engineering Ltd. and Williams Hybrid Power Ltd., which combines the traditional F1 business and activity that commercializes F1 derived intellectual property, reported a loss before taxation of £5M ($7.7M), according to the G ...
Tags: Finance, United Kingdom
Finance Notes
The revenues of VF Corp. went up by only 2% in the first quarter ended March 31, hitting $2.6M, due to delayed shipments of spring/summer merchandise and a tough comparison with the strong first quarter of '12. However, the group’s gross margin rose by 2.4 percentage points to 48.1%, setting a ...
Tags: Finance
Ecclestone Says F1 Set For IPO
F1 CEO Bernie Ecclestone said that "the board of the sport’s parent company Delta Topco has voted to proceed with the Initial Public Offering," according to Christian Sylt of the London TELEGRAPH. Sylt also reported Ecclestone revealed a shake-up of F1’s $698.5M prize fund, "which ...
Tags: Finance, United Kingdom
David Beckham Tops Rich List With £165M
Sports stars across Britain and Ireland "have never had it so good," according to Philip Beresford of the SUNDAY TIMES. The fourth Sunday Times Sport Rich List shows that "the top 100 present and former sportsmen" -- and it is all men -- have wealth totaling £3.2B ($5B), up 6.7% on last year a ...
Doyen Group Kicks Off Sports Group
The Doyen Group, a London-based hedge fund, is launching a new sports investment group led by former XIX Entertainment executive Simon Oliveira and CAA agent Matthew Kay. The group, which will be called Doyen Global, will invest and buy businesses working in areas ranging from talent management and ...
Tags: Finance, United Kingdom
Brazilian Clubs Oppose Third Party Ban
The debate over the subject of third-party ownership in football "has taken a fresh twist with a group of Brazilian clubs claiming that a move to outlaw such practices would negatively impact their financial status," according to SOCCEREX. The 21 clubs, which include reigning Brasileiro champi ...
Mario Götze Trade Under Investigation
Germany's Federal Financial Supervisory Authority (Bafin) "is looking into the trade of Bundesliga Borussia Dortmund midfielder Mario Götze to league rival Bayern Munich," according to Andrea Rexer of the SÜDDEUTSCHE ZEITUNG. The reason for Bafin's involvement is that Dortmund, as a public ...
Dusseldorf Repays Loan Of Almost $10M
Bundesliga club Fortuna Dusseldorf "has repaid a loan" of €7.5M ($9.8M) that it received in '99 from businessman Michael Kölmel, according to DER WESTEN. The club reportedly "used the profits from the current season to repay the loan." The club has started repaying the loan, which inc ...
Li Ning Holds 48-Hour Online Sale
China News Service reported Chinese sportswear company Li Ning "held a 48-hour online sale on April 22, offering discounts of up to 80%," according to the WANT CHINA TIMES. The report said most items on sale were priced between 39-79 yuan ($6-13), "and everything was sold before the sale perio ...
