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French Ski Companies Announce Chinese Winter Sports Contracts

Published in SportsBusiness Daily Global on 02 / 21 / 17

Two French ski companies announced deals with Chinese firms to "help to develop ski resorts in China," where winter sports are "becoming popular" ahead of the 2022 Beijing Winter Olympics, according to Alan Charlish of REUTERS. Ski-resort equipment maker Montagne et Neige Developpement agreed to a "...

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Financial Notes

ITV  was "a faller on Tuesday on fears that advertising sales have turned negative."  Morgan Stanley downgraded the broadcaster to “ equal weight ” ahead of its first-quarter trading update due on Thursday. Feedback from media buyers suggests May sales were "stagnating," havi ...

Tags: Finance

Man City Could Miss Out On $144M

Missing out on the Champions League next season "could cost" Man City up to £100M ($144M), according to Stuart Brennan of the MANCHESTER EVENING NEWS. Man City is praying West Ham "can do them a favour" against rivals ManU at Upton Park, beca ...

Tags: Finance, United Kingdom

IPL Side Kolkata Knight Riders Profiting

The "star power" of Owner Shah Rukh Khan and consistent on-field performance in recent years have "catapulted Indian Premier League team Kolkata Knight Riders into the profit zone even as most other franchises of the popular Twenty20 tournament are yet to hit pay dirt," according to Mahanta & La ...

Tags: Finance, India

Aussie Athletes Turn To Crowdfunding

Australian athletes "are using crowdfunding to raise money for their trip to the 2016 Rio Olympics," according to Olivia Chang of BUSINESS INSIDER AUSTRALIA. A dozen athletes, especially those competing in sports which lack huge sponsorships, "are resorting to the crowdfunding site GoFundMe so they ...

Tags: Finance, Australia

U.K. FCA Cracking Down On Golf Outings

Golf has "become a dirty word" in the U.K. asset management market, according to Aime Williams of the FINANCIAL TIMES. Since the Financial Conduct Authority announced two weeks ago that investment managers "were spending too much time wooing clients with lavish corporate jollies, the market has gott ...

Tags: Finance, United Kingdom

China Aims To Reach $460B By 2020

China's five-year sports development plan states that the country's sports industry will amount to more than 3T yuan ($460B) by the end of '20, according XINHUA. The plan issued by China's State General Administration of Sports said, "China's overall sports industry turnout will be amounting to more ...

Tags: Finance, China

BT Group Sees Profit

BT Group "posted a rise in net profit, boosted by broadband services and sports channels," according to Simon Zekaria of MARKETWATCH. The U.K. telecom said that net profit in the quarter ended March 31 rose to £756M ($1.1B) from £690M for the same period a year earlier. Fourth-quarter ea ...

Tags: Finance, United Kingdom

Adidas Seeking Buyer For Golf Business

Adidas said that it would "aim to sell the bulk of its loss-making golf business to focus on shoes and clothing," after its core brand reported strong quarterly sales, particularly in the U.S., according to Emma Thomasson of REUTERS. The German sportswear firm, which launched a review of its golf un ...

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PSL Chair Announces $2.6M Profit

Pakistan Super League Chair Najam Sethi on Tuesday disclosed that a profit of $2.6M was made on the first edition of the league and termed it as "a great achievement for the Pakistan Cricket Board," according to DAWN. Sethi said, "When we were planning on launching the league, we didn't expect any p ...

Tags: Finance, Asia

Sunderland Reports £25.4M Pre-Tax Loss

EPL side Sunderland, which is "battling hard to escape relegation" under Sam Allardyce, has rounded off the annual financial results season in the English top tier by reporting a £25.4M pre-tax loss for the year to July 31, 2015, according t ...

Tags: Finance, United Kingdom

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