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National Rugby League Side Gold Coast Titans Fined $263,000 For Salary Cap Breach

Published in SportsBusiness Daily Global on 10 / 24 / 14

National Rugby League side Gold Coast has been fined A$300,000 ($263,000) "and hit with a suspended penalty of four competition points over a salary cap breach in regard to former playmaker Scott Prince," according to the AAP. Prince left the Titans at the end of '12 and the penalty "was issued aft...

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Tags: Leagues and Governing Bodies, Australia

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08/01/14
VCF Foundation Approves Of Valencia Sale

La Liga side Valencia majority shareholder VCF Foundation President Aurelio Martínez said on Thursday, "Peter Lim is the owner of Valencia," according to Conrado Valle of AS. This "is not yet true officially, though." Of the VCF Foundation's 19 members, 17 voted on Thursday "in favor of the s ...

Tags: Franchises, Europe

08/01/14
Franchise Notes

Spanish second division side Real Zaragoza's new majority shareholder, the Fundación Zaragoza 2032 group, "has made the payments that were owed to the club's approximately 200 employees for the last two or three months." Payments are now up to date as of June 30 and the Fundación said ...

Tags: Franchises

07/31/14
Racing Majority Shareholder Sells Stake

Spanish second division side Racing Santander majority shareholder Jacobo Montalvo "has decided to sell all his shares in the club for the symbolic price of €1 with the goal of avoiding relegation" to the Spanish third tier, according to the EP. The club "explained that late Tuesday, Montalvo's ...

Tags: Franchises, Europe

07/31/14
Caterham F1 Team To Take Legal Action

The Caterham F1 team said on Tuesday that it was "taking legal action against former employees who have threatened to sue for alleged unfair dismissal," according to Alan Baldwin of REUTERS. The counter claims come after the team was sold by Malaysian aviation entrepreneur Tony Fernandes "to a myste ...

Tags: Franchises, United Kingdom

07/31/14
Scottish Rangers Chair Denies Sale Plans

Scottish Championship side Rangers Chair David Somers on Tuesday "hit back at his club's own fans by insisting categorically he has no plans to sanction the sale of Murray Park," according to Keith Jackson of the Scotland DAILY RECORD. Following a statement from supporters' coalition group the Union ...

Tags: Franchises, United Kingdom

07/30/14
Bayern's Season-Ticket Holders Complain

Bayern Munich's ticket department "is being bombarded with complaints," according to the HANDELSBLATT. In May, the club "revoked the season tickets of 211 season-ticket holders because they did not attend enough home games." The affected people "feel betrayed and hurt in their pride as a fan." The t ...

Tags: Franchises, Europe

07/29/14
Mercedes To Rethink Team Orders

F1 team Mercedes "will rethink" its approach to races "after a controversy over team orders at the Hungarian Grand Prix," according to Andrew Benson of the BBC. Lewis Hamilton "refused a demand to move over for team-mate Nico Rosberg because he felt it would mean the German would end up beating him ...

Tags: Franchises, Europe

07/29/14
Blackpool FC Has Only Eight Players

With two weeks to go until the new League Championship season kicks off, Blackpool "only have eight contracted players," according to Luke Edwards of the London TELEGRAPH. At Blackpool, there is "only growing fear that the club is facing humiliation on the field and disaster off it, with fans, board ...

Tags: Franchises, United Kingdom

07/29/14
Politician Vows To Help Racing Santander

Cantabria, Spain President Ignacio Diego criticized those responsible for the situation of second division side Racing Santander, which is "playing for its life" after Spain's IRS announced on Friday that the club "does not meet the legal requirements" to receive extra time to make the payments it o ...

Tags: Franchises, Europe

07/29/14
Franchise Notes

La Liga side Valencia majority shareholder VCF Foundation will vote on Thursday on "whether to sell a 70% stake in the club to Peter Lim." During the vote, "VCF Foundation will decide whether to sell the shares to Peter Lim and make him the club's majority shareholder." Two points "will be finalized ...

Tags: Europe, Franchises

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