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Puma Majority Stakeholder Kering CEO Says Sportswear Firm Is Not For Sale

Published in SportsBusiness Daily Global on 06 / 24 / 16

Kering Chair & CEO François-Henri Pinault "slapped down persistent rumours that the French luxury group is preparing to sell athletics goods maker Puma, saying the group plans to hold on to its majority stake" until at least '18, according to Adam Thomson of the FINANCIAL TIMES. ...

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Tags: Europe, Finance

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Stocks For Companies With Football Ties Surge

Chinese President Xi Jinping’s plan to make China a football superpower "is winning over fans in an unlikely place: the nation’s $7.7 trillion stock market," according to BLOOMBERG. Nine listed companies with ties to the country’s football league have surged an average 158% since t ...

Tags: Finance, China

Brasileiro Clubs See Worst Financial Year

The 20 largest Brasileiro football clubs "had the worst year in history in terms of finances" with a deficit of R$598M ($195.2M) for '14, according to Fábio Suzuki of LANCENET. The total revenue from these clubs reached R$3.1B ($1B) while expenses reached R$3.7B ($1.2B). However, the total cl ...

Tags: Finance, Brazil

Stats LLC Acquires Prozone Analytics

Stats LLC announced on Tuesday that it has acquired Prozone, a pioneer in athlete tracking and sports performance analytics. With Prozone, Stats expands its geographic reach and sports coverage while adding advanced and complementary technologies to its suite of tracking and analytics products. Pro ...

Tags: Finance

Adidas Sales, Profit Top Estimates

Adidas reported first-quarter sales and profit that exceeded estimates "on strong sales of running shoes and streetwear" as outgoing CEO Herbert Hainer "lays the groundwork for a turnaround," according to Aaron Ricadela of BLOOMBERG. Sales surged 17% to €4.08B ($4.57B), adidas said Tuesday, bea ...

Tags: Europe, Finance

Atlético Reduces Debt To Tax Authorities

Two years ago, Atlético Madrid's debt to the Spanish tax authorities stood at €215M, according to Manuel Esteban of AS. Currently, the club's debt to Spanish tax authorities is €80M ($90M). Under Manager Diego Simeone, the team's presence in the Champions League has generated € ...

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Britain's Sport Industry Hitting Its Stride

In the U.K., "across football, rugby and cycling, economic activity around sport is growing," according to Andrew Critchlow of the London TELEGRAPH. Supporting more than 450,000 jobs in the country, sport has become over the last five years a £20B ($30B) industry in the U.K., but experts belie ...

Tags: Finance, United Kingdom

Stadiums Help Brazilian Championship Profits

All 13 Brasileiro state football championships finals "saw high revenues and large audiences, especially in the newer arenas," according to Duda Lopes of MAQUINA DO ESPORTE. Considering that all 13 matches happened in stadiums that were "all built in this decade," the finals generated a total o ...

Tags: Brazil, Finance

Champions League Gives $257M Boost

Research by travel website GoEuro.co.uk and app onefootball.com revealed that the Champions League generates nearly £170M ($257M) "for the European transport and tourism industry," according to Paul Nicholson of INSIDE WORLD FOOTBALL. The research finds that potential income for a city will ri ...

Tags: Finance, Europe

Palmeiras Close March With R$6M Surplus

In March, Brasileiro side Palmeiras "ended one month with a surplus for the first time" since President Paulo Nobre took over in Jan. '13, according to Thiago Ferri of LANCENET. Palmeiras obtained a profit of R$11.7M in the past month, which "corrected the January and February deficit" and helped th ...

Tags: Finance, Brazil

RFS Proposes Salary Caps For All Tiers

The Russian Football Union (RFS) has proposed salary caps for all tiers of the football league against the backdrop of the news that UEFA accused Russian Premier League squad Dinamo Moscow of breaching the break-even requirement. RFS has come up with a document stipulating the enforcement of financi ...

Tags: Finance, Russia

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