Featured Story

Struggling F1 Team Lotus May Not Be Able To Race In Monza Despite Recent Lifeline

Published in SportsBusiness Daily Global on 09 / 02 / 15

F1 CEO Bernie Ecclestone saved the "struggling" Lotus F1 team last month by handing over £1.5M ($2.3M) to pay the wages of 400 staff, according to Kevin Eason of the LONDON TIMES. But "fears are growing that the cash-strapped Lotus squad may not be able to race at the Italian Grand Prix t...

Read More

Tags: Finance

More Stories

07/23/15
Meltdown Threatens Transfer Spending

Just when the "spending power of the Chinese Super League looked set to make it a major player" in football's transfer market, the country's recent economic stumbles "have emerged as a brake on its ambitions," according to John Duerden of the AP. China was emerging as a "genuine alternative option t ...

Tags: Asia, Finance

07/23/15
Van Persie Heightens Stakes In Turkey

Fenerbahce "just bet the house on Robin van Persie," according to Ant & Finkel of BLOOMBERG. The Istanbul club "agreed last week" to pay the former ManU striker as much as $6.2M a year. While entry to the UEFA Champions League "would pay at least twice van Persie’s keep, failure risks infl ...

Tags: Finance, Europe, Asia

07/23/15
AUSTRAC Accuses Tabcorp Of Noncompliance

Betting giant Tabcorp "has been hit with legal action by the financial intelligence agency for ­alleged noncompliance with rules designed to stop money laundering and terrorism financing," according to Tasker & Butler of THE AUSTRALIAN. Australian Transaction ­Reports and Analysis Centre CEO Pau ...

Tags: Finance, Australia

07/23/15
Finance Notes

The Bulgarian tax collector, the National Revenue Agency (NAP), has "failed to find a buyer" for "the CSKA Sofia brand (it's logos and trademarks) and has dropped the asking price by 20%," to BGN 2,944,288 ($1.6M). This is the "second time it has lowered the price." In a bid to "chase down" some of ...

Tags: Finance

07/22/15
Lotus Continues To Pay Off Creditors

The Lotus F1 team "is continuing to make strides to settle its debts with a number of creditors after being faced with a winding-up petition in the High Court," according to Ian Parkes of AUTOSPORT. Following a two-week adjournment, the name of Lotus F1 Team Ltd. "was again on the Companies Court Wi ...

Tags: Finance, United Kingdom

07/21/15
Nicolas Anelka Buys Belgium Club Ath

In a "surprise move" former France int'l Nicolas Anelka "has bought Ath, a Belgian fourth division club on the brink of extinction," according to Samindra Kunti of INSIDE WORLD FOOTBALL. Anelka had spells at Paris St. Germain, Chelsea, Man City, Juventus, Real Madrid and Arsenal during his club care ...

Tags: Europe, Finance

07/20/15
Bulgaria To Put Cash Into Academies

The Ministry of Youth & Sports in Bulgaria "has committed to allocating substantially increased funds to club youth academies in 2016," according to Alexander Krassimirov of INSIDE WORLD FOOTBALL. The announcement was made by Bulgarian Sports Minister Krassen Kralev. He reported that the Bulgari ...

Tags: Finance, Europe

07/17/15
Dynamo Dresden Reports $3.3M Profit

German 3rd League football club Dynamo Dresden reported a profit of €3M ($3.3M) during the previous season, according to Arndt & Schlegel of BILD. Dynamo Finance Dir Robert Schäfer said, "The financial crisis at SG Dynamo Dresden is over. We are robust and healthy. We've made a profit ...

Tags: Finance, Europe

07/17/15
Queensland Faces Prize Money Cuts

While "most racing jurisdictions around Australia are planning on prize money rises, the perilous position of Queensland Racing may find that state poised to slash stake money," according to Patrick Bartley of THE AGE. Queensland racing "has been rocked by revelations" that its galloping industry is ...

Tags: Finance, Australia

07/17/15
Shanghai Groups Buy Stake In Infront

Shanghai Oriental Pearl and China Media Capital are to "jointly buy a 5% stake in Infront Sports & Media," the sports marketing firm recently acquired by China's Dalian Wanda group, according to Patrick Frater of VARIETY. Oriental Pearl is a listed subsidiary of Shanghai Media Group, while CMC i ...

Tags: Asia, Finance

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug