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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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Tags: Finance, United Kingdom

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Nike Nears Cole Haan Sale

Nike is in “final negotiations to sell its Cole Haan handbag and shoe brand to private equity firm Apax Partners, in a deal that could fetch around $500 million,” according to sources cited by Kim & Oran of REUTERS. Sources said that London-based Apax has “teamed up with former ...

Tags: North America, Finance

Werder Bremen Reveals $17.8M In Losses

Bundesliga club SV Werder Bremen lost €13.9M ($17.8M) during the '11-12 fiscal year the club revealed Monday, according to Matiszick & Dorow of the WESER KURIER. However, the club's management is "not too worried about this number as it has enough equity to balance the losses, and it a ...

Tags: Finance, Europe

Jockeys' Claim Could Rock Aussie Racing

The racing industry "is set to be hit this week by a multimillion-dollar superannuation claim from jockeys that could stretch back as far as 20 years," according to Chris Roots of the SYDNEY MORNING HERALD. Fairfax Media understands the Australian Jockeys' Association "wants the legislated 9% supera ...

Tags: Finance, Australia

Paris To End PSG Subsidy

Paris City Hall will end its annual subsidy to Ligue 1 Paris St. Germain, according to Boris Cassel of LE PARISIEN. In a memo that will be presented in a meeting scheduled for Nov. 12 at the Council of Paris, the city will reveal the news. Le Parisien was able to obtain a copy of the memo, and the f ...

Tags: Europe, Finance

Mercedes To Increase F1 Team Budget

After three more or less successful seasons in F1, Mercedes "reportedly plans to increase the budget of its F1 team by about 30% in '13," according to AUTO BILD. Newly appointed non-exec Chair of the team’s board of directors Niki Lauda "has reportedly convinced company management that su ...

Tags: Finance, Europe

F1 IPO 'Unlikely' Before 2014

F1 CEO Bernie Ecclestone revealed that F1 is "unlikely to float on the stock market" before '14, according to Alan Baldwin of REUTERS. In the paddock at the Abu Dhabi Grand Prix, Ecclestone said, "The market's going to take a little bit of settling down, I think. I think we ought to forget about it ...

Tags: Finance, Middle East

Alemannia Aachen Avoided Bankruptcy

German 3rd League club Alemannia Aachen "has avoided bankruptcy for the time being," according to the DPA. The club revealed Wednesday that somebody "from within the club" stepped up as a financial backer. The club has a reported deficit of €3.9M ($5.1M), which means it had to find €2M ($2 ...

Tags: Finance, Europe

Marussia F1 Team In Talks With Investors

Marussia, the F1 team 29.4% owned by Lloyds Banking Group, "is in talks with potential investors to keep its wheels turning after making a £49M ($78.9M) loss last year," according to Christian Sylt of the London GUARDIAN. Team CEO Andy Webb said directors were "in active discussions with poten ...

Tags: Finance, United Kingdom

Cologne Fan Bonds Reach Issue Goal

Indebted 2nd Bundesliga club FC Cologne "has already reached its planned issue volume for its fan bonds," according to the DPA. The club's fan bonds, which have been available since the start of August, "have already sold out with an issue volume of €10M ($13M)." FC Cologne President Werner Spi ...

Tags: Finance, Europe

A Look Inside North Korean-Made Football Boots

An unusual "venture that marries South Korean money with North Korean labour in the Chinese city of Dandong aims to make its mark" on the world football scene, according to Ju-min Park of REUTERS. At a temporary factory, "in a village on the edge of a bustling city that serves as a bridge between Ch ...

Tags: Finance, Asia

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