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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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Tags: Finance, United Kingdom

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04/19/13
EPL Spend Most Of Income On Players

Recently published accounts of all 20 clubs revealed that "more than two thirds" of the EPL's record £2.4B income in '11-12 "was paid out in wages," according to David Conn of the London GUARDIAN. The Guardian's annual special report of Premier League clubs' finances shows that they spent &pou ...

Tags: Finance, United Kingdom

04/19/13
BBL Forecasts Record Revenue Of $104M

The Basketball Bundesliga (BBL) forecasts a record revenue of more than €80M ($104M) generated by the 18 clubs during the '12-13 season. BBL CEO Jan Pommer said, "Although we won't know the exact number before June 30, we already know that it will be an excellent result." Pommer added: "The num ...

Tags: Finance, Europe

04/18/13
Finance Notes

Polish First Division side LKS Lodz "has declared itself bankrupt and unable to pay money owed to former players and coaches." The club has been "stripped of its license" to play in the First Division and will now "be forced to play two divisions lower in the fourth division" ( INSIDE WORLD FOOTBAL ...

Tags: Finance

04/17/13
QPR Secures $23M Barclays Bank Loan

EPL side Queens Park Rangers secured a £15M ($23M) loan from Barclays Bank in Hong Kong last month, "charged against all the club's assets including Loftus Road, significantly borrowing for the first time" during Tony Fernandes' regime as majority owner, according to James Riach of the London ...

Tags: Finance, United Kingdom

04/17/13
CVC Considers Taking Over Betfair

CVC Capital Partners, private-equity owner of the car-racing marketing company Formula One, "is considering a takeover approach for Betfair ," according to Anne-Sylvaine Chassany of the FINANCIAL TIMES. A person with knowledge of the matter said that "the buyout investor has not yet been in contact ...

Tags: Finance, United Kingdom

04/17/13
Finance Notes

Monaco head of state Prince Albert II "has expressed his confidence that the principality’s football club will prove successful as the French Football Federation prepares to hear its appeal against the French Football League’s decision to force the team to set up financial residence in F ...

Tags: Finance

04/16/13
Constantin Ends Subscription Period

German media group Constantin Medien, owner of German free-to-air TV channel Sport1, "had to end the subscription period for its company bonds ahead of time due to oversubscription on the first day of the subscription period," according to FINANZEN. The company had to end the subscription period on ...

Tags: Finance, Europe

04/16/13
Fast Retailing Benefits From Weak Yen

Fast Retailing Co. "has raised its forecast for annual profit as the seller of Uniqlo-branded apparel benefits from a weakening yen," according to BLOOMBERG. The Yamaguchi-based company, Asia's largest clothing retailer, said Thursday net income will probably be ¥91.5B ($94M) for the year endin ...

Tags: Finance, Japan

04/16/13
Bookmaker Ladbrokes' Revenue Falls

A string of poor results at Cheltenham and punters wagering less overall "triggered a profit warning at Ladbrokes as the bookmaker's online travails look set to continue" throughout '13, according to Robinson & Wembridge of the FINANCIAL TIMES. The FTSE 250 company on Monday blamed a £5M ( ...

Tags: Finance, United Kingdom

04/16/13
Lancashire Cricket Reveals $2.3M Loss

County Championship side Lancashire County Cricket Club has predicted a return to profitability in the next financial year after significantly reducing its net debt and despite making an operating loss of just over £1.5M ($2.3M) for the year ended Dec. 31. With major redevelopment works due to ...

Tags: Finance, United Kingdom

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