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Caribbean Premier League Provides $102M Boost To Host Countries

Published in SportsBusiness Daily Global on 12 / 07 / 16

The Caribbean Premier League continued its upward trajectory in '16 with the world's fastest growing T20 tournament contributing an economic boost of over $102M across the seven host territories. The economic impact to the region has risen in recent years from $44M in '14 to $76M in '15. The CPL com...

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LeSports Secures $1.2B In Series B

LeSports announced it secured $1.2B in Series B financing, bringing the company’s total investment to $1.35B. The cash infusion now values the LeEco unit at $3.3B, underscoring the company’s record growth and significantly increased value in a two-year span. LeSports, established on Marc ...

Tags: Asia, Finance

Rangers Owner Reports £9M Loss

The Rangers Football Club Ltd. reported an 11% increase in operating losses to £9.04M for the '15 year ending June 30, according to Scott McCulloch of the Scotland DAILY RECORD. The company, which notes its principal activities are "operating a professional football club in Scotland ...

Tags: Finance, United Kingdom

Nike's Q3 Profits Grow By 20%

Nike earned $950M in Q3, 20% "more than last year" and nearly $100M "more than analysts' consensus expectation," according to Jeff Manning of the Portland OREGONIAN. The company's $8B in sales for the quarter, while up 8% over last year's Q3, "fell short of the" $8.2B consensus analyst expectation. ...

Tags: Finance, North America

SoftBank Invests $250M In WME-IMG

Japanese tech group SoftBank has invested $250M in WME-IMG in a deal that "values the entertainment, sports and fashion company" at $5.5B, according to Garrahan & Massoudi of the FINANCIAL TIMES. The deal was announced Wednesday, and represents a "steep increase in the value of WME-IMG over the ...

Tags: Finance

Financial Notes

England ’s players are already the highest paid in Test rugby but are negotiating to have their £15,000 ($21,170) fee per match "hiked up to" £25,000 ($35,284). The Rugby Football Union must sign a new Elite Player Squad agreement with Premiership Rugby before the start of next ...

Tags: Finance

Highest Earning Winter Sports Athletes

Austrian Alpine skier Marcel Hirscher "was the highest paid winter sports athlete during the the '15-16 season," according to the BASLER ZEITUNG . The overall world cup winner earned 588,778 Swiss francs ($605,000) during this past season. The top earning female winter sports athlete was Lindsey ...

Tags: Finance, Europe

FC Twente Facing 'Critical' Next Few Days

Dutch Eredivisie "crisis club" FC Twente has been forced to withdraw its submission for the '14-15 financial year after "new details of the deal to sell Dusan Tadic to Southampton came to light," meaning the club "could be a step closer to losing" its professional license, according to the PA. Twent ...

Tags: Europe, Finance

Golf Drove Over £4B Into U.K. In '14

An independent report published by Sheffield Hallam University’s Sport Industry Research Centre revealed that golfers in the U.K. spent £4.3B on their sport in '14, "accounting for 14% of all consumer spending on sport," and golf paid £990M in taxes to the government, according to ...

Tags: Finance, United Kingdom

KBO, MLB In Posting Fee Cap Talks

Baseball officials said that Major League Baseball has "proposed a cap on the amount a big league club can bid" on South Korean players in posting, according to the KOREA HERALD. The Korea Baseball Organization and MLB have been having discussions on the $8M limit "on players who are eligible for po ...

Tags: Finance, Asia

Bolton Wanderers Tax Litigation Ends

Tax litigation involving "struggling" League Championship side Bolton Wanderers "has come to an end at the High Court," according to the BOLTON NEWS. The club announced last week it had paid the £2.2M ($3.2M) bill -- and Registrar Clive Jones "dismissed the winding-up petition" from U.K. tax a ...

Tags: Finance, United Kingdom

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