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German Prosecutors Reveal F1's Bernie Ecclestone Was Blackmailed On Eve Of Trial

04 / 24 / 14

German prosecutors "have made the startling revelation" that they believe F1 CEO Bernie Ecclestone "was blackmailed by former banker Gerhard Gribkowsky," according to Christian Sylt for FORBES. The revelation is surprising "because it reflects Mr Ecclestone’s defence to charges issued by the s...

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Tags: Finance, Europe

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03/06/13
Ligue 1 Clubs Lose $78M In '11-12

Ligue 1 has "fallen back into financial struggles," according to Guillaume Errard of LE FIGARO. After having cut in half its losses between the '09-10 and '10-11 seasons (from €114M to €46M), France's elite teams lost €60M ($78.2M) in '11-12. If Ligue 2 clubs are included, the losses ...

Tags: Europe, Ligue 1, Finance

03/06/13
Nike Discounts A Threat In China

The Shanghai-based National Business Daily reported that "burdened by its high inventories in China, Nike is going to target second- and third-tier cities in its plans to open 40-50 outlets in the country, according to WANT CHINA TIMES. As part of the sportswear giant's plan, these new outlets, each ...

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03/05/13
Liverpool's Debt Increases By $32M

Liverpool, on Monday, announced its debt has increased by £21.8M ($32.7M) as "prolonged absence from the money-spinning Champions League takes its toll," according to Toby Davis of REUTERS. Liverpool's latest accounts show the club recorded a loss of £40.5M from Aug. 1, 2011 to May 31, 2 ...

Tags: Finance, United Kingdom

03/05/13
Rangers Reveal $10M Operating Loss

Scottish Third Division club Rangers have reported an operating loss of £7M ($10.5M) although they said "extraordinary progress" has been made, according to the BBC. Figures for the last seven months of '12 reveal a pre-tax profit of £9.5M ($14.3M), "although that was down to a one-off a ...

Tags: Finance, United Kingdom

03/05/13
West Ham Invests $52M Into Club

Newly released accounts showed EPL West Ham Owners David Gold and David Sullivan have sunk a total of £35M ($52.8M) into the club since June '11, according to Owen Gibson of the London GUARDIAN. The figures, which cover the year that West Ham spent in the League Championship before winning pro ...

Tags: United Kingdom, Finance

03/05/13
Aston Villa Cuts Financial Losses

Financial figures released showed EPL Aston Villa has cut its annual financial losses to £17.7M ($26.7M), according to Brett Gibbons of the BIRMINGHAM MAIL. Accounts for the year to the end of May revealed that the club "had managed to substantially reduce losses" by more than 50% from almost ...

Tags: Finance, United Kingdom

03/05/13
ARU Expecting Financial Surplus

The Australian Rugby Union "will produce a surplus this year on the back of a financial windfall from the British and Irish Lions tour, but will go back into deficit over the next two years," according to Bret Harris of THE AUSTRALIAN. Observers expected the Lions tour to provide a financial panacea ...

Tags: Australia, Finance

03/04/13
Beckham Profits Soar In 2012

The reason David Beckham is "so comfortable at not earning a single penny from his current spell at Paris St. Germain "will be clear when the companies he owns publish their financial accounts," according to Nick Harris of the London DAILY MAIL. Beckham made more cash in '12 than in any single year ...

Tags: Finance, United Kingdom

03/01/13
Sports Direct Acquires Republic

Sports retailer Sports Direct has bought the "collapsed youth fashion chain Republic" in a deal that analysts estimate to be worth between £10M ($15.2M) and £15M ($22.8M), according to Duncan Robinson of the FINANCIAL TIMES. The company will acquire 116 of Republic’s stores, "the b ...

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03/01/13
Finance Notes

Super League rugby side Wakefield Trinity Wildcats "face a six-figure hole in their budget after their main sponsor Eric France went bust." The scrap metal business ceased trading on Wednesday with debts of £22M ($33.4M) ( BBC, 2/28 ). ... Russian tycoon Alisher Usmanov "has sold part of t ...

Tags: Finance

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