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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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12/31/12
A Sigh Of Relief Over French Tax Law

There was cause for celebration in the halls of Ligue 1 club Paris St. Germain when France’s Constitutional Council struck down President François Hollande’s proposed 75% marginal tax rate on those making more than €1M ($1.3M) a year, according to Gabriele Marcotti of the LON ...

Tags: Finance, Europe

12/31/12
Profits Tumble At Leeds United

League Championship side Leeds United has "underlined the importance of GFH Capital’s recent takeover" by publishing new figures that reveal a major financial downturn, according to Phil Hay of the YORKSHIRE EVENING POST. The club’s results for the 12 months leading up to June 30 show "m ...

Tags: Finance, United Kingdom

12/28/12
Adidas CEO Optimistic Of '12 Sales

Adidas CEO Herbert Hainer told German newspaper Sueddeutsche Zeitung he expects sales to be "higher than €14.5B ($19.2B)" this year, according to REUTERS. So far, adidas has forecast sales of about €14.5B in '12, up from €13.3B in '11 ( REUTERS, 12/27 ). DEUTSCHE WELLE reported Hain ...

Tags: Finance, Adidas

12/28/12
Sports Brands Suffer In China

High inventories "caused by quick expansion, product homogeneity, price surges and sliding purchasing power are expected to pressure int'l and local sports goods brands this winter," according to Wang Zhuoqiong of the CHINA DAILY. Nike's second-quarter fiscal report revealed that Nike sales in China ...

Tags: Finance, China

12/21/12
Hearts Safe From Liquidation

Scottish Premier League Heart of Midlothian Dir Sergejus Fedotovas announced that the "threat of liquidation no longer hangs over" the club after more than £1M ($1.6M) was raised through the club’s share issue, according to Barry Anderson of the SCOTSMAN. Fedotovas thanked supporters for ...

Tags: Finance, United Kingdom

12/20/12
Billabong Bid Alive, Stock Falls

The directors of Australian surfwear brand Billabong have "ended some of the uncertainty around the stock" with confirmation they still have a A$527M ($553M) takeover proposal to consider from Senior Exec Paul Naude, according to Colin Kruger of the SYDNEY MORNING HERALD. The news "did little for in ...

Tags: Finance, Australia

12/19/12
China Brand Considers Jordan Countersuit

Shanghai's First Financial Daily reported Chinese athletic brand Qiaodan said that "it is considering countersuing basketball legend Michael Jordan for malicious prosecution" as its trademark dispute remains in limbo more than nine months after it was first filed, according to WANT CHINA TIMES. Jord ...

Tags: Finance, China

12/19/12
Sydney Swans Report Slight Profit

Australian Football League Sydney Swans have "capped their AFL premiership success" with a '12 financial year profit of A$207,007 ($218,000), according to the AAP. Swans Chair Richard Colless said that the club's second successive profit, after losses in '09 and '10, was "in line with its three-year ...

Tags: Australia, Finance

12/18/12
Li-Ning Warns Of Substantial Losses

Chinese sportswear company Li-Ning said in a statement that it "expects substantial losses this year," according to Li Woke of the CHINA DAILY. The company said that the losses "will be mainly due to the implementation of its sales channels revival plan, on which it plans to spend 1.4 to 1.8B yuan ( ...

Tags: Finance, China

12/18/12
Billabong Has $555M Takeover Offer

Australian surfwear brand Billabong "is set to release details of a A$527M ($555.8M) takeover offer from the boss of its U.S. division after news of the bid began to leak" Monday, according to Blair Speedy of THE AUSTRALIAN. Billabong "requested a trading halt on its stock after a number of reports ...

Tags: Finance, Australia

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