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Wolfsburg Shareholder Winterkorn Says EPL's Deep Pockets Leave Bundesliga 'Powerless'

Published in SportsBusiness Daily Global on 09 / 01 / 15

Volkswagen CEO Martin Winterkorn, who "has interests in VW-owned Wolfsburg," said that Bundesliga clubs, including reigning champion Bayern Munich, "have been powerless to compete with the Premier League," according to Stephan Uersfeld of ESPN. Winterkorn has been CEO at the German car man...

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Tags: Europe, United Kingdom, Finance

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CSD Head Supports EU-Regulated FFP

Spanish Superior Sports Council (CSD) President Miguel Cardenal has "defended public regulation of professional sports that would guarantee financial fair play" and allow clubs to compete in int'l competitions under "equal conditions," according to AS. Cardenal: "In Spain what we have considered is ...

Tags: Europe, Finance

Finance Notes

World Cup betting "drove up revenues at William Hill," helping the bookmaker to an 89% increase in third-quarter operating profits. But the sports-led betting boom for William Hill and other U.K. operators "is about to face regulation pressures as new measures to constrain gambling begin to come int ...

Tags: Finance

Real Zaragoza Granted Meeting

Related story: Real Zaragoza Recognizes Risk Of Liquidation The Aragon, Spain government "has not hesitated to try to help" Spanish second division side Real Zaragoza after a "call for help" made on Thursday by the club's majority shareholder, the Fundación Zaragoza 2032 g ...

Tags: Europe, Finance

Adidas Shares Up 6% In Early Trading

Shares in adidas rose 6% in "early trading after a report said a group of investors was considering a bid for the company's Reebok brand," according to the BBC. Hong Kong's Jynwel Capital and investment funds in Abu Dhabi were "considering an offer" worth $2.2B. The news "provided a welcome boost fo ...

Tags: Finance, Europe

China Wants $817B Sports Sector By '25

China plans to "grow its sports sector" into an $817B industry by '25 to "boost employment and domestic consumption in its 'new' economy, the government said on Monday," according to Koh Gui Qing of REUTERS. Under a "sweeping reform plan, China aims to boost domestic consumption to replace export ...

Tags: Finance, Asia

Lokomotiv To Appeal RFS Decision

In a rare case when a dispute between a football club and a sacked coach over a payoff is taken to outside arbitration, Lokomotiv Moscow said it will appeal a decision by the Russian Football Union (RFS) that it has to pay €1.8M ($2.3M) to recently fired coach Leonid Kuchuk. "We disagree with [ ...

Tags: Russia, Finance

Messi's Father Insists On Son's Innocence

Barcelona's Lionel Messi's father, Jorge, said that his son had "nothing to do with his own tax affairs and should not be included in an investigation into an alleged fraud," according to Iain Rogers of REUTERS. Messi and his father, who have "denied wrongdoing, have been accused of defrauding the ...

Tags: Europe, Finance

Real Zaragoza Admits It Is In Jeopardy

Spanish second division side Real Zaragoza directors "recognized on Thursday the risk of liquidation and disappearing is 'true and real' after the Spain's Internal Revenue authorities demanded the club" pay the "historic" €25M ($32M) sum it owes, according to EL CONFIDENCIAL. Real Zaragoza Pres ...

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Sky Profits Beat Market Forecasts

Sky reported "stronger than expected growth in both profit and customer demand in the three months to the end of September" while securing "regulator and shareholder approval for its takeovers of Sky Italia and Sky Deutschland," according to John Aglionby of the FINANCIAL TIMES. Sky, Britain's "bigg ...

Tags: Finance, United Kingdom

NZ's TAB Posts Record $1.7B Turnover

More than NZ$2B ($1.6B) was gambled at betting agency TAB last year, "the most in history, as punters splurged" on a record World Cup for TAB, according to Hamish McNicol of STUFF. The New Zealand Racing Board said on Thursday that its net profit for the year ended July 31 was NZ$137M, "up slightly" ...

Tags: Finance, Australia

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