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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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Tags: Asia, Europe, Finance

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Milan Announces €89.3M In '15 Losses

Serie A side AC Milan recorded a loss of €89.3M over the financial year '15, "with holding company Fininvest vowing to cover the deficit in its entirety," according to SOCCER WAY. The club announced its financial results "during Thursday's shareholders' meeting." In a statement, the c ...

Tags: Europe, Finance

FremantleMedia Takes Squawka Stake

Global production company FremantleMedia has taken an "almost 35% share in Squawka," the London-based football media company, according to Leo Barraclough of VARIETY. The deal makes it the "largest single shareholder in the digital business, and it has the option to increase the stake in the fu ...

Tags: Finance, United Kingdom

Adidas Gaining Ground On Nike

Germany's adidas "gained ground on larger U.S. rival Nike" at the start of '16, reporting a "jump in quarterly sales and profits and raising its outlook for the year, sending its shares to an all-time high," according to Emma Thomasson of REUTERS. Adidas is "benefiting from collaborations with celeb ...

Tags: Finance

Financial Notes

Pharmaceutical company Pharmstandard co-Founder Viktor Kharitonin  has "upped his stake" in Formula One racing circuit the Nurburgring from 80% to 99%. Kharitonin said, "Today we have closed the deal." Forbes claimed the "value of the new transaction is some" $43M. It is believed Kharit ...

Tags: Finance

Grand Final To Record Historic Profit

The 2016 A-League grand final "looms as the most profitable in history" for Football Federation Australia but the governing body has "ruled out awarding any prize money to the champion this season," according to Dominic Bossi of the SYDNEY MORNING HERALD. FFA will reportedly receive a gross pro ...

Tags: Australia, Finance

Wimbledon To Increase Prize Money

The world’s most successful tennis players "will become richer than ever this summer" after Wimbledon announced a 5% increase in prize money, according to Paul Newman of the London INDEPENDENT. Although the pay increases "have slowed in the last three years," at £28.1M ($41M) the to ...

Tags: Finance, United Kingdom

Chinese Court Hears 'Jumpman' Lawsuit

China's highest court on Tuesday "tried the trademark case lodged by U.S. basketball legend Michael Jordan against a Chinese sportswear firm," according to XINHUA. Tuesday's trial "featured the court investigation, debates and final statements." A verdict "has not yet been made." Jordan, who retired ...

Tags: Finance, China

Finance Notes

Bookmaker William Hill on Tuesday said that the bookmaking industry "faces its biggest loss in Premier League history with Leicester City just one win away from clinching a shock first title." William Hill, in a statement, said that "so unexpected" was the title chase that it had "quoted Leice ...

Tags: Finance

CVC Acquires Majority Stake In Tipico

Private-equity firm CVC Capital Partners said that "it acquired a majority stake in privately held German sports-betting company Tipico Co.," the first deal for the financial investor in Europe’s largest economy since it hired Goldman Sachs Group Inc.’s former Germany Head Alexander Dibe ...

Tags: Finance, Europe

UA's Int'l Business On The Rise

Under Armour boosted its int'l business during the first quarter, "and it now represents 14% of total revenue," according to Shona Ghosh of MARKETING MAGAZINE. Revenues from outside North America came to $147M, up 56% year on year. Total net revenue was up 30% year on year to $1.05B. CEO K ...

Tags: Finance, United Kingdom

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