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Sky Investors In Line For $222M Payout As Takeover By Fox Remains Delayed

Published in SportsBusiness Daily Global on 07 / 24 / 17

Sky shareholders are in line for a £171M ($222.3M) payout as the £11.7B ($15.2B) takeover of the pay-TV firm by 21st Century Fox "is repeatedly delayed by stumbles over regulatory hurdles," according to Christopher Williams of the London TELEGRAPH. Scrutiny of the deal "is now expec...

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Tags: Finance, United Kingdom

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Di Pietro Says A-League Is At Crossroads

A-League side Melbourne Victory Chair Anthony Di Pietro said that the coming A-League season, "the last under the expiring broadcasting deal, is a major fork in the road," according to Michael Lynch of the SYDNEY MORNING HERALD. Di Pietro, who runs the "best supported and most successful club i ...

Tags: Australia, Finance

Mosley Says He Warned FIA

Former FIA President Max Mosley said that he warned F1’s authorities "against taking a controversial stake in it which now threatens to put the brakes on the sale of the business," according to Christian Sylt for CITY A.M. American conglomerate Liberty Media last month agreed to buy F1’s ...

Tags: Europe, Finance

WRU Increasing Grassroots Investment

The Welsh Rugby Union has "put investment before profit as it looks to build up the game at grassroots level and bolster its four regions," which have all struggled in Europe and the Pro12 in recent seasons, according to Paul Rees of the London GUARDIAN. The WRU enjoyed a 13% increase in turnover la ...

Tags: Finance, United Kingdom

Team England Gets $5M Funding Boost

U.K. Culture Minister Karen Bradley said that English athletes will beat the Aussies “in their own backyard” with a £4M ($5.1M) funding boost, according to Kate Proctor of the London EVENING STANDARD. The cash injection from Sport England "is aimed at ensuring Team England come out ...

Tags: Finance, United Kingdom, Australia

Arsenal Does Not Pay Kroenke's Company

Arsenal has this year made no £3M ($3.8M) payment to the company of majority Owner Stan Kroenke "for the first time since 2013," according to Jeremy Wilson of the London TELEGRAPH. A fee was registered in the annual accounts in both '13-14 and '14-15 "in relation to services provided by Kroenk ...

Tags: Finance, North America

Mercedes F1's Revenue Grows By £66.3M

The latest accounts of F1 world champion Mercedes show the team is "reaping the financial rewards" of its track dominance, according to Alan Baldwin of REUTERS. Figures published by Mercedes-Benz Grand Prix Ltd. on Tuesday showed a loss after tax of £22.3M in '15 from a previous £76.9M w ...

Tags: Finance, Europe, United Kingdom

Cricketers Looking For Pay Increase

Australia's cricketers "will lodge their official submission for increased wages and conditions in less than three weeks, kick starting the latest round of negotiations," according to Jon Pierik of the SYDNEY MORNING HERALD. Oct. 21 "has been pencilled in as the date when discussions will officially ...

Tags: Finance, Australia

Durham Relegated From Division One

Durham County Cricket Club has been relegated from division one of the championship, docked 48 points for next season and "stripped of Test match status after the England & Wales Cricket Board attached draconian conditions" to a £3.8M ($5M) bailout for the "troubled" county, according ...

Tags: Finance, United Kingdom

Marseille To Raise OM's Rent

Marseille Mayor Jean-Claude Gaudin intends to “raise the rent Olympique de Marseille pays for the use of the Vélodrome,” according to 20 MINUTES. In an announcement to the city’s municipal council, Gaudin said, “We’re going to raise OM’s rent.” Marsei ...

Tags: Finance, Europe

Taxman Strikes Deal With EPL Clubs

The "taxman has struck a secret deal with Premier League football clubs which allows them and their superstar players to reduce their tax bills," according to Bentley & Faulkner of the London DAILY MAIL. Under the agreement, "clubs have been told they can pay up to a fifth of their football ...

Tags: Finance, United Kingdom

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