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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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03/05/14
Ecclestone: CVC Must Sell F1 Stake

F1 CEO Bernie Ecclestone has revealed that CVC, the "private equity firm which is Formula One's largest shareholder, will have to sell its stake in the world's most popular motorsports series by 2018 at the latest," according to Christian Sylt for AUTOWEEK. CVC paid $2B for F1 in '06 using two loans ...

Tags: Finance, Europe

03/05/14
Clubs Not Keeping FIFA Compensation Rule

A report commissioned by the European Club Association revealed that European football clubs "are failing to pay as much as they should to compensate other teams for training players," according to Alex Duff of BLOOMBERG. The report said that as little as 1.5% of $5.1B in transfer fees "the last two ...

Tags: Finance, Europe

03/05/14
Finance Notes

Punter-friendly sports results stopped bookmaker Paddy Power from "repeating the double-digit profit growth of last year but an increase in mobile use offered hope for the Irish betting group's long-term fortunes." Paddy Power said on Tuesday that it had suffered an "exceptional run" in which it "fo ...

Tags: Finance

03/04/14
Liverpool's Henry Admits Suarez Buyout

EPL side Liverpool Owner John Henry has confirmed Luis Suarez did have a £40M buyout clause in his last contract, but the club "decided they would hold on to the striker at all costs," according to SKY SPORTS. Arsenal "triggered the clause" during the summer transfer window but, having lost Fe ...

Tags: Finance, United Kingdom

03/04/14
Aston Villa Posts £51.8M Loss

EPL side Aston Villa posted a £51.8M loss in its latest accounts for '12-13 -- but insists it can now “close a chapter” on its period of financial pain, according to Mat Kendrick of the BIRMINGHAM MAIL. The accounts for the year ending May 31 show that Aston Villa "reduced their op ...

Tags: Finance, United Kingdom

03/03/14
Enterprise Withdraws Winding-Up Petition

Enterprise Insurance, the shirt sponsor of League Championship side Leeds United, "has withdrawn the winding-up petition it issued against the club last month," according to Phil Hay of the YORKSHIRE EVENING POST. The petition -- served on Leeds on Jan. 29 -- "was withdrawn after a hearing at the H ...

Tags: United Kingdom, Finance

02/28/14
ManU's Struggles Pose Financial Risk

ManU "may face a double challenge to its financial outlook: poor results on the field and rising wage pressure off it," according to Ben Priechenfried of BLOOMBERG. The team must overturn a 2-0 deficit against Olympiacos to stay in this year’s Champions League, and it is 11 points "adrift of a ...

Tags: Finance, United Kingdom

02/27/14
Ukrainian Club Faces Bankruptcy

One of Ukraine’s top football clubs, Metallist Kharkov, is on the verge of bankruptcy and, reportedly, the squad's owner disappeared along with several other entrepreneurs and state officials following the recent change of political regime in the country. Earlier this week, coach Miron Markevi ...

Tags: Finance, Russia

02/26/14
IPL Still Most Favored India Event

A report published on Tuesday by KPMG and CII "has pegged" the Indian Premier League as the most lucrative sporting event in India, according to Manu Balachandran of the Indian BUSINESS STANDARD. This is "despite mounting criticism" against the IPL and allegations of rampant match-fixing. According ...

Tags: Finance

02/26/14
Newcastle Cuts Losses, Boosts Revenue

EPL side Newcastle United cut operational losses to £660,000 in the '12-13 financial year "in an effort to comply with UEFA's financial fair play (FFP) regime," and boosted commercial revenue by almost 25%, according to Robert Woodward of REUTERS. This revenue increase to £17.1M "helped ...

Tags: Finance, United Kingdom

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