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U.K.'s Jockey Club Announces Record-Setting Profit Increase Of 11% In 2013

04 / 18 / 14

The Jockey Club, which stages "some of British horseracing's most famous events including the Cheltenham festival and the Grand National, announced record financial results," according to Stephen Wood of REUTERS. The group, the "largest commercial operation in the sport in Britain," increased its tu...

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03/11/14
Only Six Serie A Clubs In Profit

La Gazzetta dello Sport found only six Serie A clubs "ran at a profit last year," while Inter lost €82.7M, according to FOOTBALL ITALIA. Only six sides "avoided a deficit, while there are still huge debts" all around the league. Udinese is "the best run club in Italy," making a profit of € ...

Tags: Finance, Europe

03/11/14
Hoeneß Admits To Evading Taxes

Bayern Munich President Uli Hoeneß "stunned a German court on Monday by admitting he had evaded taxes" of €18.5M ($26M) using a secret Swiss bank account -- "more than five times the amount on a prosecutors' charge sheet," according to Jens Hack of REUTERS. Once one of Germany's "most adm ...

Tags: Finance, Europe

03/11/14
Cristiano Ronaldo Leads Goal's '14 Rich List

Real Madrid's Cristiano Ronaldo has been named the "world's richest footballer after topping the annual list of players' net worth," according to a list compiled by GOAL. Ronaldo held off Barcelona's Lionel Messi in the Goal Rich List 2014 with an "estimated wealth" of €148M ($205.4M). Messi ca ...

Tags: Finance

03/11/14
LFP President Touts Recent Debt Reduction

Spanish Football League (LFP) President Javier Tebas said on Monday that "La Liga and Spanish second division clubs will meet the requirements of the economic control measures established for the '13-14 season," according to the EFE. Tebas "shared this belief" with Spanish Socialist Workers' Party ( ...

Tags: Finance, Europe

03/10/14
Norway Questions Wealth Fund's F1 Deal

Norwegian parliamentarians said on Friday that Norway's $850B sovereign wealth fund, the world's largest, "must answer questions on its acquisition of a stake in Formula One," according to Dagenborg & Knudsen of REUTERS. The fund, which invests Norway's oil and gas revenues, bought a $1.6B stake ...

Tags: Finance, Europe

03/07/14
Cronulla Reveals Cost Of ASADA Scandal

National Rugby League side Cronulla Sharks released its '13 annual report that "exposes the price" of dealing with its doping scandal so far, according to Josh Massoud of the Sydney DAILY TELEGRAPH. The report reveals that A$1.5M ($1.3M) "was exacted" from responding to both the Australian Sports An ...

Tags: Finance

03/07/14
QPR Reveals Net Debt Of $296 Million

League Championship side Queens Park Rangers has revealed net debts of £177M ($296M) "as a result of trying to stay" in the Premier League last season, according to Jacob & Burrows of the LONDON TIMES. The club on Thursday announced a loss of £65.7M for the financial year '12-13, "ma ...

Tags: Finance, United Kingdom

03/07/14
Athletic Bilbao Taking Legal Action

La Liga side Athletic Bilbao on Thursday decided to "take marketing firm Santa Mónica Sports to court over failed payments," according to Juanma Velasco of MARCA. Santa Mónica Sports owes Athletic around €2M ($2.8M) in "payments for static advertising" at Athletic's San Mam&e ...

Tags: Europe, Finance

03/06/14
Report: AC Milan Weighing Sale

Serie A side AC Milan, owned by former Italian PM Silvio Berlusconi, "is weighing a sale," according to Alesci & Soshnick of BLOOMBERG. Citing "three people with knowledge of the matter," Alesci & Soshnick noted Lazard Ltd. "has sent marketing documents to potential buyers." A spokesperson f ...

Tags: Finance, Europe

03/06/14
Adidas Sees Hit From Currency Swings

Adidas on Wednesday warned that weakening emerging market currencies, notably the Russian ruble, "would hurt 2014 results and pose a risk to its 2015 targets even as sales are helped" by the World Cup, according to Emma Thomasson of REUTERS. Adidas, "which has been losing ground to market leader Nik ...

Tags: Finance, Europe

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