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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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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

12/17/12
Man City Reports $158.3M Loss Last Year

Winning the EPL title "incurred a loss" of £97.9M ($158.3M) for Man City, although that represented "half the deficit the club suffered the previous season when it finished third," according to Blitz & Bounds of the FINANCIAL TIMES. Man City "managed to cut its annual losses to £97.9 ...

Tags: Finance, United Kingdom

12/17/12
Newcastle Asks Tinkler To Walk Away

National Rugby League club Newcastle Owner Nathan Tinkler will "be asked to hand over control" of the Knights by giving the club's NRL license back to the Members Club board, according to James Hooper of the SUNDAY TELEGRAPH. With his "billion-dollar asset-rich empire crumbling by the day," Tinkler ...

Tags: Finance, Australia

12/17/12
HSV Loses $8.7M In '11-12 Fiscal Year

Bundesliga club Hamburg SV "has released its financial numbers for the '11-12 fiscal year in which it lost €6.6M ($8.7M)," according to the NDR. During the '10-11 fiscal year, the club lost almost €5M. Club Chair Carl-Edgar Jarchow said, "This is obviously not the result we were wishing fo ...

Tags: Finance, Europe

12/17/12
Salford City Reds Close To Takeover

Financially troubled English Super League rugby club Salford City Reds "could have new owners by next week," according to Neil Barker of the MANCHESTER EVENING NEWS. Club Chair John Wilkinson, who is battling to avoid administration, has told players and staff that he is "in talks with two intereste ...

Tags: Finance, United Kingdom

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