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Published in SportsBusiness Daily Global on 11 / 26 / 14

The Greek Super League elected Asteras Tripolis President GIORGOS BOROVILOS as president on Monday "after he secured 13 votes out of the 16 teams in the league," with Panthrakikos President DIMITRIS TZELEPIS elected as his deputy ( REUTERS, 11/25 ). ... The NBA announced that JAN MENNEKEN h...

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Spanish Athletes To Be Indemnified

Spain's Supreme Court on Tuesday ruled that Spanish athletes are "now entitled to receive payment equal to 12 days' salary per year they were contracted when their employers do not renew expiring contracts," according to the EFE. The "ruling resolves the conflict between Spain's Association of Profe ...

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LFP Agency Owes Taxman $5.1M

Spain's Supreme Court ruled on Monday that the Spanish Society of Professional Football (SEFP) has to pay Spanish tax authorities €3.7M ($5.1M) "for tax debt and delayed payments," according to the EFE. The SEFP, an agency under the Spanish Football League (LFP), presented an appeal in court th ...

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Hearts Shareholder To Transfer Holding

Creditors of Scottish Premiership club Heart of Midlothian's major shareholder UBIG "have agreed to transfer their 50% holding to BIDCO, the Anne Budge-backed vehicle for future fan control," according to Brian McLauchlin of the BBC. The club's administrators "will now aim to persuade the creditors ...

Tags: Finance, United Kingdom

ACB Side Manresa To Sell Shares

Spanish Basketball League (ACB) side Manresa launched a campaign to raise €600,000 ($823,000) through a sale of club shares, which will cost €60 ($82), according to the EFE. Despite "budget reductions for ACB teams due to Spain's economic crisis that allowed the club to finish the season w ...

Tags: Europe, Finance

Fortsmann Little Ponders Gym Sale

The owner of health club chain 24 Hour Fitness "is close to selling the business in a deal that would mark the dissolution of Forstmann Little, the private equity empire that for two decades set the tone of the modern buyout industry," according to Ed Hammond of the FINANCIAL TIMES. Fortsmann Little ...

Tags: Finance

S. Korean Clubs Against Publicizing Pay

The Korean Professional Football Federation’s announcement earlier this week that "it will make some players’ salaries public has caused controversy among clubs and athletes," according to Kwon Sang-soo of the KOREA JOONGANG DAILY. The football federation said that "it will require teams ...

Tags: Finance, Asia

New Twist In Leeds United Saga

The "protracted takeover" of League Championship side Leeds United "took an unexpected turn on Wednesday night" when Mike Farnan's consortium, Together Leeds, confirmed that "it is in discussions with the Italian businessman Massimo Cellino" over purchasing the club together, according to the London ...

Tags: United Kingdom, Finance

Reebok, CrossFit Still Moving Forward

For Reebok, CrossFit "could provide much-needed salvation," according to Chris Bryant of the FINANCIAL TIMES. The sportswear brand, owned by adidas since '06, makes CrossFit-badged clothing "as part of a broader alliance with the fashionable fitness movement." The partnership, struck as Reebok strug ...

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Berlusconi Family Could Sell AC Milan

The family of former Italian PM Silvio Berlusconi "is considering selling a stake of between 20 and 30 percent" in Serie A side AC Milan, the club he bought in '86, according to REUTERS. AC Milan co-CEO Barbara Berlusconi, Silvio's daughter, said that the family "was seeking partners and she would t ...

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FIA's Todt Concerned About F1's Future

FIA President Jean Todt "is concerned about the future of F1," according to BILD. Todt said, "I'm afraid that we'll lose teams." In an interview, Todt "defended the cost-reduction measures." He said, "Everyone wants this budget ceiling. It has to be put down in writing. Then it's mandatory for all." ...

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