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Russia's Second-Tier Football League Proposes Salary Cap After Spate Of Bankruptcies

04 / 25 / 14

The Football National League (FNL), Russia's second tier football league, has proposed a salary cap of 300,000 rubles ($8,400) a month for players as of next season in a bid to improve the financial situation of the league's squads. The league has also proposed to introduce a cap on a player's total...

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Tags: Finance, Russia

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01/31/13
DEL Club Iserlohn Slashes Ticket Prices

German Hockey League (DEL) club Iserlohn Roosters have decided to invest in their fan base and drastically reduce the prices for standing-room season tickets. Club Managing Dir Wolfgang Brück said, "The most-valued capital of our Iserlohn Roosters is its fans, which are connected to our club in ...

Tags: Finance

01/30/13
EPL Fulham Nearly Debt-Free

EPL Fulham is "effectively debt-free" after Owner Mohamed Al Fayed converted his £212M ($334M) in loans to the club into equity, according to Dominic Fifield of the London GUARDIAN. Fulham reported an operating profit of £1.2M for the financial year ending June 30 with that figure inflat ...

Tags: Finance, United Kingdom

01/30/13
BBL Club Gießen Avoids Bankruptcy

Basketball Bundesliga (BBL) club Gießen 46ers is on its way to "avoiding a lingering bankruptcy," according to SPORT1. The club said that it has commitments for €360,000 ($484,000) "to close its budget gap." Interim liquidator Tim Schneider said, "The insolvency application can only be re ...

Tags: Finance, Europe

01/29/13
Study: Super League Clubs Have $94M Debt

Former England rugby coach Tony Smith "has expressed concern at a damning report that claims Super League clubs are on the edge of 'a financial abyss,'" according to the PA. The study, written by Rob Wilson, a sports finance specialist from Sheffield Hallam University, "has revealed that 11 of the 1 ...

Tags: Finance, United Kingdom

01/29/13
ManU Worth $3B According To Forbes

ManU has become "the first sports team in the world" with a $3B valuation, according to Mike Ozanian of FORBES. Shares of the English football club, which were offered to the public last August at $14, "did poorly at first but have soared the past few days," closing at less than $17. The recent incr ...

Tags: Finance, United Kingdom

01/28/13
Li Ning Shares Drop With Fundraising Plan

Chinese sportswear company Li Ning "sent its shares tumbling by revealing it needed to raise more money to complete a restructuring plan," according to Patti Waldmeir of the FINANCIAL TIMES. Its share price sank 14.7% on Friday after the company said that it plans to issue convertible securities worth up to HK$1.87B ($241M) to provide capital for restructuring and business development, "as it tries to reverse a two-year slide in its performance." The securities are convertible into one share at HK$3.50 ($0.45) each and "will be offered to shareholders for every two existing shares held."

Tags: Finance, China

01/28/13
Dusseldorf EG Threatened With Bankruptcy

German Hockey League (DEL) club Dusseldorf EG, one of Germany's most-historic hockey clubs, "is in deep financial trouble and threatened with bankruptcy," according to the DPA. The eight-time champion needs €2.4M ($3.2M) to cover its budget of about €4M ($5.4M) for the upcoming season. The ...

Tags: Finance, Europe

01/24/13
Bundesliga Breaks €2B Revenue Mark

For the first time, the Bundesliga has broken the €2B ($2.7B) revenue mark during the '11-12 season. In comparison to the previous season, the league was able to increase its revenue by 7.2% or around €140M ($186.7M) to €2.08B ($2.77B). The Bundesliga generated a profit after taxes of ...

Tags: Finance, Europe

01/24/13
Tottenham Loses $6.8M In '11-12

EPL side Tottenham Hotspur posted a loss of £4.3M ($6.8M) last season mainly because it did not play in the Champions League, according to Ken Ferris of REUTERS. Revenue was £144M ($228M), a 12% "decline from the record level" of £163M posted in the previous period "primarily due t ...

Tags: Finance, United Kingdom

01/24/13
Reebok India Faces Heat From SFIO

Serious Fraud Investigation Office officials said that Reebok India is "causing delay in a probe into its complaint against its two top former employees for alleged financial irregularities and fraud," according to Dey & Mitra of the Indian BUSINESS STANDARD. A key SFIO official said, "We need t ...

Tags: Finance, India

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