Featured Story

Australian Rugby Union Reports A$6.3M Deficit For 2014

Published in SportsBusiness Daily Global on 04 / 21 / 15

The Australian Rugby Union has recorded a A$6.3M deficit for '14 after providing A$3.3M "in assistance to keep the Melbourne Rebels afloat," according to Wayne Smith of THE AUSTRALIAN. And although the new broadcast deal to come into effect next year "promises to dramatically ease the financial pres...

Read More

Tags: Finance, Australia

More Stories

09/18/14
Spanish Clubs Warned Over State Aid

European Union Competition Commissioner Joaquin Almunia has "warned that any Spanish clubs found guilty of receiving illegal state aid will have to pay the millions of euros involved back quickly, with interest," according to Dermot Corrigan of ESPN. Almunia was "responding to a question regarding t ...

Tags: Europe, Finance

09/18/14
Adidas Shares Up 4% Following Report

Shares in adidas "jumped on Wednesday on a report that a group of hedge funds is seeking to buy a stake to pressure management to make sweeping changes, although one of the funds dismissed this," according to Jörn Poltz of REUTERS. Germany's manager magazin said hedge funds including activist f ...

Tags: Europe, Finance

09/18/14
Premiership Confirms Relaxing Of Salary Cap

The purse strings at Premiership clubs "have been officially loosened after a meeting of club chairmen confirmed an increase in the annual salary cap," according to Josh Burrows of the LONDON TIMES. Starting next season, Premiership clubs "will be allowed to spend a maximum" of £5.5M ($9M) on ...

Tags: Finance, United Kingdom

09/17/14
Netball New Zealand Sees Revenue Rise

Netball New Zealand's revenue "is soaring as it prepares to hire eight new staff, but neither the semi-professional players nor the country's cash-strapped zones appear likely to receive any direct financial benefit," according to Liam Napier of the SUNDAY STAR TIMES. An official NNZ document "claim ...

Tags: Finance, Australia

09/17/14
Cycling Australia Receives $1.8M Lifeline

Cycling Australia has "had a board shake-out" and received a A$2M ($1.81M) lifeline to "keep its Olympic programme on track after battling back from virtual insolvency," according to Ian Ransom of REUTERS. Former Int'l Cricket Council CEO Malcolm Speed will "replace outgoing president Gerry Ryan and ...

Tags: Australia, Finance

09/17/14
Tax Authorities Deny Claims From LFP

Spain's tax authorities said that the debt they are owed by football clubs is "more than that claimed" by the Spanish Football League (LFP), according to FOOTBALL ESPANA. The LFP said last week that the tax due decreased by almost €165M ($214M) last year to reach €482M ($625M), an amount S ...

Tags: Europe, Finance

09/17/14
Finance Notes

Ferrari "may become the first ever team to own a stake in Formula One after receiving options in the racing series" worth an estimated $25M that were previously held by former Ferrari Chair Luca di Montezemolo. A source close to the Italian marque said, "Ferrari, not Mr. Montezemolo, is entitled to ...

Tags: Finance

09/16/14
Finance Notes

Scottish Premiership side Celtic has revealed the club's earnings fell by 4.6% from £75.82M in '13 to £64.74M ($105M), but "transfer trading contributed to a rise in profit." A drop in turnover was "partly caused" by the decision to give season-ticket holders a £100 ($162) d ...

Tags: Finance

09/16/14
Premiership Cap Expected To Increase

Senior figures at Premiership Rugby are confident that "plans to change the salary cap will be agreed this week," according to Chris Jones of the BBC. The new initiatives include the "allowance of a second marquee player from overseas -- whose wages will fall outside the salary cap." The cap is "als ...

Tags: Finance, United Kingdom

09/16/14
CL Clubs To Earn Minimum Of $11M

UEFA said on Monday that the 32 clubs that contest the group stages of the Champions League starting this week will "again take home a minimum" of €8.6M ($11.1M) "irrespective of results," according to Steve Tongue of REUTERS. Like last season, "every win during the group stage will earn the c ...

Tags: Finance, Europe

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug