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Florida Power & Light Signs On As Official Solar Energy Provider Of Miami ePrix

Published in SportsBusiness Daily Global on 03 / 03 / 15

Electric utility company Florida Power & Light has signed on as the official solar energy provider of the FIA Formula E race in downtown Miami. The sponsorship deal for the first electric car race held in the U.S. was announced on Monday. Andretti Sports Marketing, organizer of the Miami ePrix, ...

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Tags: Marketing and Sponsorship, Europe

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NZRU Finances Up, Provinces In The Black

New Zealand rugby's financial position improved in '13 with the national body's "war chest of cash reserves swelling" to NZ$63.7M, while all 14 top-tier provinces "returned to surplus after years of turmoil," according to Greg Stutchbury of REUTERS. The NZRU posted a NZ$2.9M ($2.48M) profit in '13, ...

Tags: Finance, Australia

Majority Of ACB Clubs Behind On Payments

The situation of Spanish Basketball League (ACB) side Bilbao Basket, which went on strike on Monday , "is serious but not isolated," according to Jesús Pérez Ramos of MUNDO DEPORTIVO. More than "half of the league's 18 clubs -- 11 -- are not up to date on payments to their players." S ...

Tags: Europe, Finance

Argentine Club Has Trophies Embargoed

An Argentine court has embargoed second division side Independiente's "trophies won throughout the club's history" over $300,000 in owed payments "being demanded by footballer Luciano Leguizamón," according to the DPA. Leguizamón, who currently plays for Chilean first division side Eve ...

Tags: Finance, South America

NBA Nets Russian Owner Repatriating

NBA Brooklyn Nets Owner Mikhail Prokhorov said on Monday that he planned to "relocate his company" that runs the Nets to Russia "in keeping with the Kremlin's call on Russian businessmen to repatriate their assets to help combat new U.S. sanctions," according to Alexei Anishchuk of REUTERS. The U.S. ...

Tags: Finance, Russia

Li Ning Brand Reveals 2013 Financials

Chinese sportswear brand Li Ning announced its financial results for the year ended Dec. 31. Revenue amounted to $941M, representing a year-on-year decrease of 12.8%, mainly due to the resizing of the retail network, inventory clearance and sell-in related to the Channel Revival Plan. Gross profit w ...

Tags: Finance, Asia

FIFA Reports $72M Profit In 2013

FIFA has "increased its cash pile" to $1.4B after making a profit again last year, "justifying the sum as a safety net should a World Cup have to be cancelled," according to Keith Weir of REUTERS. Income from TV rights and marketing deals ahead of this year's World Cup in Brazil "helped to drive up ...

Tags: Finance

Argentine Tax Agency Head Meets Blatter

Argentina tax agency head Ricardo Echegaray met with FIFA President Sepp Blatter to tell him how football teams "are evading taxes" in the $3.7B player trading market, according to Panja & Duff of BLOOMBERG. Echegaray has traveled to the football ruling body’s headquarters in Zurich to inf ...

Tags: Finance, South America

Spanish Sports To Receive Larger Grants

Spain's Superior Sports Council (CSD) on Tuesday made public the "amount of money it will provide in provisional grants to Spain's sports federations" in '14, according to EL CONFIDENCIAL. The CSD's contribution is rising to €38.1M ($52.9M) from €34.1M a year ago. The quantity allocated in ...

Tags: Finance, Europe

Schalke Releases Financial Results For '13

Bundesliga club FC Schalke "has released its financial results for the ’13 fiscal year in which it generated the second-highest revenue in club history," according to the SID. The club reported revenue of €206.8M for the year ending Dec. 31. In comparison to last year, Schalke was able to ...

Tags: Finance, Europe

Rostock Sets Foundation For Debt Relief

German 3rd League football club Hansa Rostock “has, together with its creditors, launched a financial recovery concept,” according to 3-LIGA. The club’s total debt, which currently stands at €30M ($41.7M), “will be drastically reduced.” The reduction "is based on a ...

Tags: Finance, Europe

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