Featured Story

Ferrari Given All-Clear After FIA Inspects Team's Wind Tunnel

Published in SportsBusiness Daily Global on 05 / 29 / 15

Ferrari "has been given the all-clear by the FIA following a detailed inspection of its wind tunnel facilities after the Spanish Grand Prix to ensure it was complying with Formula 1's rules," according to Jonathan Noble of MOTORSPORT. The scale of the car upgrade that the Maranello team was able to ...

Read More

Tags: Finance, Europe

More Stories

09/17/14
Tax Authorities Deny Claims From LFP

Spain's tax authorities said that the debt they are owed by football clubs is "more than that claimed" by the Spanish Football League (LFP), according to FOOTBALL ESPANA. The LFP said last week that the tax due decreased by almost €165M ($214M) last year to reach €482M ($625M), an amount S ...

Tags: Europe, Finance

09/17/14
Finance Notes

Ferrari "may become the first ever team to own a stake in Formula One after receiving options in the racing series" worth an estimated $25M that were previously held by former Ferrari Chair Luca di Montezemolo. A source close to the Italian marque said, "Ferrari, not Mr. Montezemolo, is entitled to ...

Tags: Finance

09/16/14
Finance Notes

Scottish Premiership side Celtic has revealed the club's earnings fell by 4.6% from £75.82M in '13 to £64.74M ($105M), but "transfer trading contributed to a rise in profit." A drop in turnover was "partly caused" by the decision to give season-ticket holders a £100 ($162) d ...

Tags: Finance

09/16/14
Premiership Cap Expected To Increase

Senior figures at Premiership Rugby are confident that "plans to change the salary cap will be agreed this week," according to Chris Jones of the BBC. The new initiatives include the "allowance of a second marquee player from overseas -- whose wages will fall outside the salary cap." The cap is "als ...

Tags: Finance, United Kingdom

09/16/14
CL Clubs To Earn Minimum Of $11M

UEFA said on Monday that the 32 clubs that contest the group stages of the Champions League starting this week will "again take home a minimum" of €8.6M ($11.1M) "irrespective of results," according to Steve Tongue of REUTERS. Like last season, "every win during the group stage will earn the c ...

Tags: Finance, Europe

09/15/14
Formula E Looking To Woo Carmakers

Formula E, bankrolled with $100M by Boston Celtics managing partner Wyc Grousbeck and others, "wants to seduce sports fans and carmakers with a view to a possible initial public offering," according to Alex Duff of BLOOMBERG. At the series offices in London, Formula E CEO Alejandro Agag said that "R ...

Tags: Finance

09/15/14
U.S. Investors Line Up Tottenham Bid

A U.S. investment group backed by Guggenheim Capital is "weighing up a bid" for Tottenham Hotspur -- "in the latest American foray into the English Premier League," according to Massoudi & Blitz of the FINANCIAL TIMES. A statement from Cain Hoy Enterprises said that it was "at the preliminary st ...

Tags: Finance, United Kingdom

09/15/14
ManU Estimates $78 Million Loss

ManU estimates that it will take "a financial hit" of £48M ($78M) after its failure to qualify for Europe's elite competition -- the Champions League -- this season, according to Mehreen Khan of the London TELEGRAPH. But the fall in earnings and prestige that comes with the club's absence in E ...

Tags: Finance, United Kingdom

09/12/14
Atlético Reports Capital Increase Results

Atlético Madrid has sold 98.7% of the new shares in its capital increase -- 477,965 of the total of 484,059 -- in the first and second phases, "with the third scheduled to open Thursday," according to the EFE. The club announced that it has raised a total of €10.3M ($13.3M) after the fir ...

Tags: Europe, Finance

09/12/14
Finance Notes

McLaren CEO Ron Dennis said that his Formula 1 team "may not be having much success on the track but its finances have rarely been stronger." McLaren reported an "impressive swing back into profit last year thanks to the rising revenues from the sport and sponsorship." From a loss of about £3M ...

Tags: Finance

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug