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Labour Party Floats Levy On EPL TV Rights To Support Grassroots Football

Published in SportsBusiness Daily Global on 07 / 24 / 14

Britain's Labour Party has accused Premier League clubs of "not contributing enough to grassroots football and suggested that they may be compelled to pay a levy on revenue from television rights," according to Pickard & Blitz of the FINANCIAL TIMES. Shadow Culture Secretary Harriet Harman "is a...

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Tags: Media, United Kingdom

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Adidas Reports Q2 Drop In Sales

Adidas said that "'lacklustre' European demand and unfavourable currency developments would make the German sportswear company’s full-year targets more difficult to achieve," according to Chris Bryant of the FINANCIAL TIMES. Adidas weathered a "difficult second quarter in Europe in which it wa ...

Tags: Finance, Europe

Lotus F1 Team Reportedly In $160M Debt

Just weeks after the Sauber F1 team "has allegedly been saved, the next team, Lotus, is fighting for survival," according to Christian Nimmervoll of MOTORSPORT TOTAL. It has been known for more than a year that Lotus "is in financial trouble." New information, however, suggests that the situation "i ...

Tags: Finance, Europe

China's ANTA To Make International Push

Chinese sportswear maker ANTA Sports Products Ltd. said on Tuesday that "it will persist with its push into international markets, as domestic profits decline," according to Gao Changxin of CHINA DAILY. CEO Ding Shizhong said that "Eastern Europe and the Middle East will be the Jinjiang, Fujian-base ...

Tags: Finance, China

Jury Still Out On Platini's FFP Project

For all of UEFA President Michel Platini's "tough talk, conspicuous consumption has once again been the order of the day this summer from the gilded boulevards of Monaco to the fast-changing post-industrial landscape of east Manchester," according to Owen Gibson of the London GUARDIAN. Critics who c ...

Tags: Finance, United Kingdom, Europe

U.S. Pure Fishing Takes Over U.K. Firm

U.K. fishing tackle manufacturer Hardy Bros "has been taken over by a U.S. rival" after 140 years, according to Brian Clarke of the LONDON TIMES. Hardy Bros' buyer, Pure Fishing Inc., a subsidiary of U.S.-based Jarden, "already owns many of the world’s leading angling brands, among them Abu Ga ...

Tags: Finance, United Kingdom

Setback For Ecclestone Over F1 Sale

F1 CEO Bernie Ecclestone’s "legal problems deepened after Formula One Group and owners CVC were ordered by a London court to release hundreds of documents relating to the sale of the motor racing series seven years ago, amid claims it was undervalued," according to Roger Blitz of the FINANCIAL ...

Tags: Finance, United Kingdom

Bradford Bulls Need Cash Injection By Owner

English Super League rugby club Bradford Bulls Owner Omar Khan has released £900,000 ($1.4M) from his property portfolio "to bankroll the cash-strapped club and enable it to pay players’ and staff’s delayed wages," according to Hannah Postles of the TELEGRAPH & ARGUS. Khan, who ...

Tags: Finance, United Kingdom

Sport Contributes Hugely To U.K. Economy

Sport’s contribution to the English economy was revealed to be £20.3B ($31B) a year, with grassroots sport responsible for well over half of this total. The study, which was commissioned by Sport England, shows that the growth in sport has outstripped the English economy as a whole -- an ...

Tags: Finance, United Kingdom

Barcelona's Preseason Friendlies To Net $12M

Barcelona will pocket a total of €9M ($12M) this preseason, including €6M ($8M) from its preseason tour of Asia and another €3M ($4M) from the club's other preseason friendlies, according to Joan Doménech of EL PERIODICO. The club's trip to Israel and Palestine, however, "had n ...

Tags: Europe, Finance

Sports Drink Maker To Join AIM

Sports drink maker Science in Sports, which supplies Olympic athletes and has Gold Medalist Chris Hoy as a brand ambassador, "is poised to join AIM this week," according to Andrea Felsted of the FINANCIAL TIMES. The company will debut on the London Stock Exchange's junior market on Friday "when it d ...

Tags: Finance, United Kingdom

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