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AC Milan Majority Shareholder Reportedly Doubles Investment To $225M

Published in SportsBusiness Daily Global on 09 / 30 / 16

AC Milan’s prospective new majority shareholder Li Yonghong has "reportedly doubled his investment" from €100M ($112M) to €200M ($225M) as talks with Paolo Maldini are lined up, according to FOOTBALL ITALIA. Corriere della Sera reported club GM Marco Fassone wants Maldini to "spearhe...

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PSG Set To Make Summer Transfer Splash

If Paris St. Germain’s accounts are balanced at the end of the season, the club will “finally be free from UEFA's financial fair-play sanctions,” according to Hermant & Moatti of L’ÉQUIPE. The Parisians are set to “strike hard during the summer transfer windo ...

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Gorka Villar Accused Of Extortion

Former CONMEBOL President Eugenio Figueredo said before a judge in Montevideo, Uruguay that CONMEBOL Dir General Gorka Villar "was a principal figure in suspected extortion of Uruguayan clubs," according to AS. Gorka Villar, the son of Spanish Football Federation (RFEF) President Ángel M ...

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Italian Police Launch Tax Fraud Probe

Prosecutors in the Italian city of Naples said that they are "carrying out a countrywide investigation" into an alleged $13M tax evasion scandal involving football players, their agents and a number of football clubs, according to Giovanni Legorano of the WALL STREET JOURNAL. Prosecutors said that p ...

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LFP President Sends Financial Situation Email

French Professional Football League (LFP) President Frédéric Thiriez sent an email to all Ligue 1 and Ligue 2 clubs “concerning the financial situation of French football at the end of the ’14-15 season,” according to Étienne Moatti of L’ÉQUIPE. Th ...

Tags: Europe, Finance

Clubs Threaten To Walk Out On Cop Libertadores

South America’s leading clubs have warned the continent’s beleaguered football body that "they will pull out of one of the sport’s top tournaments if they do not get a 150 percent increase in income from the Copa Libertadores," according to Tariq Panja of BLOOMBERG. Clubs " are bal ...

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North Queensland Cowboys In Legal Dispute

National Rugby League and premiership-winning side North Queensland Cowboys have launched a legal bid to put one of its "major sponsors into liquidation" after it defaulted on a six-figure deal, according to Vanda Carson of the Brisbane COURIER-MAIL. Murarrie-based company Brisclean had its company ...

Tags: Australia, Finance

Abramovich Gifts Putin $35M Yacht

Chelea Owner Roman Abramovich gave Vladimir Putin a $35M yacht in one of dozens of acquisitions through which the Russian president "has amassed a vast covert fortune," according to Roland Oliphant of the London TELEGRAPH. The "remarkable allegations come as a top American official openly accused Pu ...

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Saracens Retains Most Indebted Club Title

Debt levels at Premiership side Saracens "have soared again," rising from £41.6M ($59.4M) to £45.1M ($64.3M) to extend its own unwanted record of being "the most indebted club in rugby history," according to Nick Harris of the London DAILY MAIL. The club, believed but never confirme ...

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Finance Notes

Sports Direct "led the rebound" on Friday as the FTSE 100 closed out its first positive week of '16. Having "nearly halved" since early December, Sports Direct bounced 6% to 422p. Exane BNP Paribas "helped the rally with a note arguing that the pessimism had gone too far." Exane said, "The U.K. busi ...

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Leaks Site Helps FIFA Regulate Trades

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