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Constitutional Judge Backs Bremen State Senate's Proposal Regarding Security Costs

Published in SportsBusiness Daily Global on 07 / 30 / 14

German constitutional judge Peter Müller "has backed the Bremen State Senate in its dispute with the German Football Federation (DFB) and the German Football League (DFL) regarding the financing of police operations ," according to the DPA. Müller said, "Sanction does not replace discussi...

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Tags: Leagues and Governing Bodies, Europe

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07/25/13
Finance Notes

Puma reported "lower-than-expected second quarter results, hurt by falling sales in China and southern Europe as well as the effects of the weak yen in Japan, its second-biggest market." Puma said on Tuesday that sales in the Asia/Pacific region fell by 7.2% ( REUTERS, 7/24 ). ... Dutch tax auth ...

Tags: Finance

07/24/13
Stuttgart Sees $10M Revenue Decrease

Bundesliga club VfB Stuttgart "announced the biggest loss in team history" at a press conference on Monday, according to Julia Klassen of the STUTTGARTER ZEITUNG. Club CFO Ulrich Ruf said, "This is the biggest loss we ever had." The club's revenue decreased by around €7.74M ($10.2M) to €10 ...

Tags: Finance, Europe

07/24/13
Barcelona In Black For '12-13

Barcelona Economic VP Javier Faus on Tuesday announced that the club obtained net profits last season of €32M ($42M) after taxes, according to the EFE. During the '12-13 season, Barcelona's revenue reached €491M ($647M), which was €21M ($28M) more than expected. Before taxes, which to ...

Tags: Europe, Finance

07/23/13
Deportivo Moves Team Publication Online

Spanish second division side Deportivo La Coruña's official daily publication is leaving kiosks after more than eight years to move online, according to the EFE. The paper will be available to readers for free on the club's website immediately. The format change coincides with a delicate peri ...

Tags: Finance, Europe

07/23/13
Premier League Execs Fear Spending

Execs of Premier League clubs Chelsea and Liverpool said that they "are not confident" that UEFA "can administer new cost-control regulations amid lavish spending by clubs backed by wealthy owners," according to Tariq Panja of BLOOMBERG. Starting next season, clubs that breach UEFA Financial Fair Pl ...

Tags: Europe, Finance

07/23/13
Racing Santander Council Under Fire

Spanish province Cantabria President Ignacio Diego has joined former Spanish third division side Racing Santander players in asking the club's Administrative Council to step down because "it will be the only solution for saving the club," according to the EFE. Diego, who was joined at a press confer ...

Tags: Finance, Europe

07/22/13
Bilbao's Financial Assistance Canceled

Biscay, Spain General Councilor José Luis Bilbao has announced "the end of the Biscay government giving subsidies to professional sports clubs in the territory," including La Liga Athletic Bilbao, according to the EFE. Bilbao argued that "there are other priorities" in the current economic si ...

Tags: Finance, Europe

07/19/13
Billabong Rejects Refinancing Offer

Australian surfwear retailer Billabong Int'l said that "it has rejected a rival refinancing proposal" from lenders Centerbridge Partners and Oaktree Capital Management because "they submitted their bid too late," according to Gillian Tan of the WALL STREET JOURNAL. The company "has already agreed to ...

Tags: Finance, Australia

07/19/13
Sports Direct Staff To Share Bonus

Thousands of employees at Sports Direct are set to share a £140M ($213M) bonus pool after the sporting goods retailer reported a 40% rise in full-year pre-tax profit, boosted by last summer's London Games and Euro 2012, according to Saigol & Foy of the FINANCIAL TIMES. Around 2,000 employe ...

Tags: Finance, United Kingdom

07/19/13
CSKA Sofia To Be Publicly Quoted Club

Bulgaria's "most successful football club CSKA Sofia looks set to open a new chapter in its illustrious history and become a public company," according to Alexander Krassimirov of INSIDE WORLD FOOTBALL. The decision to make a public offering of the club's share was announced by Red Champions group r ...

Tags: Finance, Europe

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