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Staveley Says Reuben Brothers Were Among Co-Investors In Failed Newcastle Bid

Published in SportsBusiness Daily Global on 01 / 19 / 18

A "major British family investor," the first to be named by businesswoman Amanda Staveley as a financial backer of her £250M ($347.3M) bid to buy Premier League side Newcastle United, said that it is no longer "planning to invest in the club,...

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12/15/17
Finance Notes

First-half pre-tax profits "have plunged again" at Sports Direct but Founder Mike Ashley claimed that the retailer’s strategy was on track with "spectacular trading." Britain’s largest sportswear retailer said that its statutory pre-tax profits had fallen nearly 68% to £ ...

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12/14/17
Brisbane Lions Post A$2.2M Loss For '17

Australian Football League side Brisbane Lions "rubber-stamped the ascendancy" of new Chair Andrew Wellington at Wednesday’s annual general meeting when the club announced a loss of A$2.26M ($1.7M) for '17, according to Greg Davis of the Brisbane COURIER-MAIL. Brisbane lost A$1.78M in '16 and ...

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12/14/17
Finance Notes

Sports Direct's shareholders voted to block an £11M  ($14.7M) payout to Founder Mike Ashley's brother. Ashley asked the rest of its backers to approve the sum after a review found John Ashley was "owed millions in unpaid incentives" dating from '07. However, around 71% voted against ...

Tags: Finance

12/13/17
Zhongxian Building $211M Gaming Complex

The first plan was for an "eco-city" that would "help pull Zhongxian, a remote city on the hilly banks of the Yangtze River in southwest China, out of poverty," according to Chen & Shepherd of REUTERS. But developers "pulled out." Zhongxian's government has since "seized upon another plan to rei ...

Tags: Finance, Asia

12/13/17
Hong Kong Could Get Esports Venue

Hong Kong might get its own dedicated esports venue, "sponsored by none other than the regional government," according to Angelos Anastasopoulos of THE ESPORTS OBSERVER. The Cyberport technology park, owned by the Government of the Hong Kong Special Administrative Region, is reportedly "explori ...

Tags: Asia, Finance

12/12/17
NRL Side Manly Faces Fine Of Up To A$1M

Two "high-profile" former National Rugby League side Manly Sea Eagles players "have turned whistleblowers to expose the club’s alleged salary cap breaches," according to Dean Ritchie of the Sydney DAILY TELEGRAPH. Manly faces having A$400,000 ($301,400) "ripped" from its salary cap for ne ...

Tags: Australia, Finance

12/12/17
Inter Milan To Offer Bonds Worth €300M

Inter Milan "officially announced the issuing of secured bonds" worth €300M ($354M), maturing in '22, according to the AFP. The club released a statement confirming the bond offer. The proceeds "will be used to repay the club’s existing debts." The 18-time Serie A champion took ...

Tags: Finance, Europe

12/12/17
Finance Notes

Hollywood Bowl  is handing its shareholders dividends worth around 10% off its annual revenues after profits "soared" last year. Pre-tax profits at Britian's largest bowling alley chain grew from £2.6M to £21M in the year to October, after an 8.8% "hike" in sales to&nbs ...

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12/11/17
Shankai Sports Receives $45M Investment

Beijing-based sports marketing company Shankai Sports received a $45M Series B investment from private equity firm Yao Capital, founded by Yao Ming and investor David Han, the former managing director of The Carlyle Group, according to Juliet Shwe Gaung of DEAL STREET ASIA. Shankai Sports ...

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12/11/17
CSL Clubs In Debt Of More Than $600M

Chinese Super League clubs "are in a combined debt" of more than £450M ($602M), an audit by accounting firm PwC revealed, according to Seth Vertelney of GOAL. The report "is likely to raise more questions about the sustainability of a league that has made headlines with its massive s ...

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