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FIA Denies Conflict Of Interest In Approving Sale Of F1 To Liberty Media

Published in SportsBusiness Daily Global on 02 / 17 / 17

The FIA "denied suggestions that it acted incorrectly" by approving the sale of the Formula 1 business to Liberty Media "while benefiting from its own" 1% stake in the business, according to Adam Cooper of MOTORSPORT. British MEP Anneliese Dodds, who has "regularly voiced her suspicions about anti-c...

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Tags: Europe, Finance

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Azerbaijan Ticket Sales Not Up To Snuff

The sale of tickets for F1 has brought to Azerbaijan only 2% of spending on the “royal racing" in the center of Baku, according to AZERBAIJAN BUSINESS CENTER. Azerbaijan Youth & Sports Minister Azad Rahimov announced that the country spent approximately 100M Azerbaijani manats ($66.3M) "on ...

Tags: Finance, Asia

Chinese, U.S. Investors Takeover Nice

A group of Chinese and American investors bought an 80% stake in Ligue 1 club Nice, according to Matthias Galante of REUTERS. The club confirmed the news on Friday "without disclosing the fee." The club said the two principal investors are Plateno Group President Alex Zheng and NewCity Capital Found ...

Tags: Finance, Europe

Chinese Acquire Newcastle Jets

A A$5M ($3.7M) "hole in the balance sheet of Football Federation Australia" will be filled on Monday when the sale of A-League side Newcastle Jets "is confirmed to a consortium of Chinese owners," according to Tom Smithies of the Sydney DAILY TELEGRAPH. The "long-awaited sale," which for the fi ...

Tags: Australia, Finance

NRL Asking Clubs To Pay Into Sinking Fund

The National Rugby League has "taken its most ­aggressive step ever towards ensuring the viability of its clubs" by asking them to fund a A$10M ($7.4M) sinking fund, to "provide solvency statements at the end of each year and to open their books for spot audits as part of new licence agreements with ...

Tags: Finance, Australia

Paul Suen To Take Over Birmingham City

A little-known Hong Kong businessman called "the King of Penny Stocks" is set to take over "troubled" League Championship club Birmingham City, according to the SOUTH CHINA MORNING POST. An announcement to the Hong Kong Stock Exchange on Tuesday "revealed imprisoned Carson Yeung Ka-sing’s ...

Tags: Asia, Finance, United Kingdom

Sike Soccer Raises $7.6M

Sike Soccer, a football-related new media platform, raised 50M Chinese yuan ($7.6M) "from investors in the Pre-A Round," according to Pu Yang of YUTANG SPORTS. The money raised "will be used to expand the company’s content portfolios," including original content, int'l and domestic football ne ...

Tags: Finance, China

Man City To Announce Profit

Man City is "set to announce a second successive year in profit," according to James Robson of the London DAILY MIRROR. Man City moved into profit for the first time since Owner Sheikh Mansour's '08 takeover in October and Chair Khaldoon Al Mubarak "has confirmed the feat will be repeated."&nbs ...

Tags: Finance, United Kingdom

Ronaldo Tops Highest-Paid Athletes List

Forbes’ annual look at the highest-earners in sports lists Cristiano Ronaldo as the world’s highest-paid athlete, with earnings of $88M over the past 12 months "from salary, bonuses and endorsements," according to Kurt Badenhausen of FORBES. It "is a good time to be a world-class at ...

Tags: Finance

Southampton Holds Out For Compensation

Premier League side Southampton is continuing "to hold out" for close to £5M ($7.3M) in compensation from Everton for Ronald Koeman "amid an internal sense" that it was misled and that its manager is "leaving for financial reasons, according to Jeremy Wilson of the London TELEGRAPH. Negotiatio ...

Tags: Finance, United Kingdom

NeuLion Acquires Saffron Digital

NeuLion has acquired U.K.-based OTT service provider Saffron Digital in an all-cash transaction. The deal, which was formally announced on Monday, creates a one-stop shop for owners and rights holders of live or on-demand content, NeuLion Exec VP C ...

Tags: United Kingdom, North America, Finance

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