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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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Paddy Power Betfair's Progress Slows

Customer-friendly results at major sporting events have "conspired to knock progress" at betting firm Paddy Power Betfair, according to Bradley Gerrard of the London TELEGRAPH. The Irish-based business said that while the Cheltenham horseracing festival had been "kinder to bookmakers this year," wit ...

Tags: Finance, United Kingdom

Deportivo La Coruña Makes $6M Payment

La Liga side Deportivo La Coruña "continues to reduce its privileged debt" to Spain's tax authorities, according to Luis de la Cruz of AS. The club on Wednesday made a payment of €5.47M ($5.96M). The team's agreement with the tax authorities "requires it to pay 25% of its extraordinary r ...

Tags: Europe, Finance

Tebas Highlights Viability Of La Liga

La Liga President Javier Tebas said on Tuesday that "there are practically no La Liga teams that are losing money," according to AS. He added that this year, "Valencia will be the last to have been sanctioned by the EU." Tebas called Spain's top flight "very viable," and pointed out the example of E ...

Tags: Europe, Finance

English Players Hope To Rework IPL Deal

English players with "Indian Premier League ambitions" are "seeking a re-working of the agreement that sees them reimburse their counties for absence," according to Richard Gibson of the London DAILY MAIL. The bid to get the "long-standing wage deduction rates altered" coincides with concerns that t ...

Tags: Finance, India

ICC Offer To India Unfair, BCCI Secretary Says

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 ...

Tags: Asia, Finance

Desports Eyeing Crystal Palace

Premier League side Crystal Palace is "being considered for a potential takeover by Double-Edged Sports (Desports), a Chinese marketing company that is looking to acquire another football club" after purchasing La Liga side Granada last year, accor ...

Tags: Finance, United Kingdom

Flamengo Hosted Two Highest-Grossing

According to the latest sales figures for the 60 Brazilian football teams that compete in the country's top three tiers, Rio de Janeiro-based Brasileiro side Flamengo "has the distinction of having the two highest grossing games" of '17 so far, according to Nelson Belen of the RIO TIMES. The to ...

Tags: Finance, Brazil

NZ Rugby Posts Record Revenue

New Zealand Rugby's income has "grown to a record level," topping NZ$160M ($110M), but the organization still posted a NZ$6M ($4.1M) loss, according to RADIO NEW ZEALAND. Despite the loss, NZR CEO Steve Tew told the organization's annual general meeting in Wellington that it was in "solid financial ...

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Finance Notes

Premier League side Bournemouth filed its annual accounts for the year ended July 31. The club recorded a profit after tax for the year of £3.4M , compared to a loss of £38.6M in '15. Turnover increased from £12.9M in '15 to £87.9M in '16, almost entirely due to ...

Tags: Finance

Jockey Club Posts Record Turnover, Profit

Cheltenham punters "may have been counting their losses last month but the company that stages the jump festival has announced record annual results," according to Dominic Walsh of the LONDON TIMES. The Jockey Club reported its "eighth year in a row of turnover growth," to a "new high" of £191 ...

Tags: Finance, United Kingdom

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