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U.K.'s Jockey Club Announces Record-Setting Profit Increase Of 11% In 2013

04 / 18 / 14

The Jockey Club, which stages "some of British horseracing's most famous events including the Cheltenham festival and the Grand National, announced record financial results," according to Stephen Wood of REUTERS. The group, the "largest commercial operation in the sport in Britain," increased its tu...

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Tags: Finance, United Kingdom

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03/31/14
Queens Park Rangers Take Out $45M Loan

League Championship side Queens Park Rangers has agreed to a £27M ($44.9M) loan with Barclays, "secured against the club's assets and Premier League parachute payments including potential TV revenue over the next two seasons if they return to the top flight," according to James Riach of the Lo ...

Tags: Finance, United Kingdom

03/28/14
Constantin Releases Financial Numbers

German media corporation Constantin Medien "has released its financial numbers for '13 and talked about a 'difficult year,' especially in the area of sports," according to Timo Niemeier of DWDL. The company generated €458.3M in revenue in '13. In November, Constantin expected revenue of&nb ...

Tags: Finance, Europe

03/28/14
Rangers Accounts Show £3.5M Loss

Scottish League 1 Rangers "has reported losses" of £3.5M in the final six months of '13, according to the BBC. This is down from £7.2M for the seven-month period to the end of the previous year. Interim accounts published on Thursday show cash reserves of £3.5M, down from £21 ...

Tags: Finance, United Kingdom

03/28/14
FA Stripped Of $2.7M In Public Funding

The FA has been stripped of £1.6M ($2.7M) of taxpayers' money after "failing to reverse an alarming decline in the number of people regularly playing the game," according to Ben Rumsby of the London TELEGRAPH. The FA was punished by Sport England, "the quango charged with investing public mone ...

Tags: Finance, United Kingdom

03/28/14
River Plate To Create Trust To Address Debt

Argentine first division side River Plate Treasurer Andrés Ballotta said of River's economic situation when he joined the club, "They papered the country with checks," according to OLE. River's execs "had to look for various ways to address its debts because of this." As well as "generating n ...

Tags: Finance, South America

03/28/14
NZ's America's Cup Funding Proves Fruitful

The New Zealand Government said that the NZ$36M of "taxpayer money used to send Team New Zealand to the America's Cup has been recovered more than twice over," according to Richard Meadows of FAIRFAX NZ NEWS. NZ Economic Development Minister Steven Joyce released an "independent report into the 'dir ...

Tags: Finance, Australia

03/27/14
Deadline Looming For NRL Knights Owner

National Rugby League side Newcastle Knights Owner Nathan Tinkler "has not given up hope of retaining control of the club," according to Robert Dillon of the SYDNEY MORNING HERALD. Tinkler "has until close of business on Monday" to secure a A$10.5M ($9.7M) replacement bank guarantee. But it "now app ...

Tags: Finance, Australia

03/27/14
Garmenters Hit By Decline In IPL Orders

The Indian Premier League "has moved out of country resulting in decline in orders" for Indian apparel manufacturers, according to Vinay Umarji of the Indian BUSINESS STANDARD. According to apparel manufacturers based out of Mumbai, Tirupur and Ludhiana, "orders for cricketing apparel merchandise th ...

Tags: Finance, India

03/26/14
Li Ning Switches Market Focus

Li Ning "plans to focus on the mid-tier market and exit non-sportswear categories" after reporting a loss of 391.54M yuan last year, 80% less than the 1.98B yuan it lost in '12, according to Tiffany Ap of the SOUTH CHINA MORNING POST. Revenue fell 12.8% to 5.82B yuan, "partly due to a shrinking outl ...

Tags: Finance, China

03/26/14
Only Five AFL Clubs Profit Without Pokies

Figures presented to the clubs by the Australian Football League showed that only five "made a profit in 2013 without the assistance of poker machines," according to Jake Niall of THE AGE. Remarkably, "one of the clubs that made a pokies-free profit was North Melbourne, which made a decision to avoi ...

Tags: Finance, Australia

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