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U.K.'s Jockey Club Announces Record-Setting Profit Increase Of 11% In 2013

04 / 18 / 14

The Jockey Club, which stages "some of British horseracing's most famous events including the Cheltenham festival and the Grand National, announced record financial results," according to Stephen Wood of REUTERS. The group, the "largest commercial operation in the sport in Britain," increased its tu...

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05/09/13
2014 FIBA World Cup To Generate $400M

Spanish Basketball Federation (FEB) President José Luis Sáez said that the 2014 FIBA World Cup basketball tournament in Spain will generate more than $416M, according to José Félix Díaz of EL CONFIDENCIAL. At a Europe Press breakfast Wednesday, Sáez said, "T ...

Tags: Finance, Europe

05/09/13
Global Eleven Sues Marketer Kentaro

Football investment fund Global Eleven, whose backers include the son of an Italian count, sued Swiss sports marketer Kentaro, saying that "it failed to return profits from matches played by five-time world champion Brazil," according to Tariq Panja of BLOOMBERG. Global Eleven Admini ...

Tags: Finance

05/09/13
Hamburg SV Expects Record Loss

Bundesliga club Hamburg SV Exec Chair Carl-Edgar Jarchow had already announced that the club "will have a double-digit-million loss," but new reports suggest that "it could be the biggest loss in club history," according to the HAMBURGER ABENDBLATT. A Hamburg-based radio stadion reported that the cl ...

Tags: Finance, Europe

05/09/13
Women's Cycling Becomes Big Business

Sunday is Global Women's Cycle Day, "a sport where participation by women lags significantly behind that of men" in the U.K., according to Emma Sinclair of the London TELEGRAPH. The "statistics are, however, changing." British Cycling said that some 525,000 women in England currently cycle at least ...

Tags: Finance, United Kingdom

05/08/13
IMG Reportedly Rejects $2B Bid

IMG this year "drew an unsolicited bid" of more than $2B from California private equity firm Colony Capital, according to sources cited by Gelles, Edgecliffe-Johnson & Garrahan of the FINANCIAL TIMES. Colony's bid was "dismissed because Forstmann Little plans to run an auction so as to obtain th ...

Tags: Finance, United Kingdom

05/08/13
Big Spenders Watch Striani Case

Big-spending clubs opposed to UEFA's Financial Fair Play regulations "were dealt an unexpected boost" Monday when "an official challenge to the rules was lodged at the European Commission," according to Ian Herbert of the London TELEGRAPH. The complaint, lodged by Belgium-registered agent Daniel Str ...

Tags: Finance, Europe

05/08/13
Deportivo Seeks Access To TV Money

La Liga side Deportivo La Coruña and the Spanish Football Federation (RFEF) met Tuesday to try to arrive at an agreement about the conditions established by a judge regarding how Deportivo can access €9M ($11.8M) from a payment of TV rights , according to Juan Yordi of MARCA. Judge Rafa ...

Tags: Finance, Europe

05/07/13
Player Agent Threatens UEFA's FFP

UEFA's Financial Fair Play regulations face a legal challenge in the European courts after a players' agent, Daniel Striani, "argued the rules will unfairly restrict the amount of money he can earn," according to David Conn of the London GUARDIAN. Striani, an agent registered in Belgium, has "lodged ...

Tags: Finance, Europe

05/07/13
Ecclestone To Sell F1 Despite Legal Woes

Prosecutors are still pursuing the investigation into the bribery case involving F1 CEO Bernie Ecclestone as the entrepreneur "prepares the sport to be sold off yet again," according to Kevin Eason of the LONDON TIMES. Plans to find global investors to buy F1 "are going ahead under a huge cloud of l ...

Tags: Finance

05/06/13
Adidas Profit Margin Hits Record High

Germany's adidas posted its highest-ever gross profit margin "as the sale of higher-priced products through its own stores and a new running shoe helped offset weak consumer spending in Europe and problems at Reebok," according to Victoria Bryan of REUTERS. Despite a 2% fall in sales in the fir ...

Tags: Finance

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