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BMW Rules Out Formula E Entry Due To Mid-Race Car Changes

Published in SportsBusiness Daily Global on 07 / 30 / 15

BMW "has ruled out an entry into the Formula E Championship in the short term," according to Gary Watkins of AUTOSPORT. BMW Motorsport boss Jens Marquardt explained that the German manufacturer "has no interest in joining the series while the practice of drivers swapping cars mid-race remains." Marq...

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10/29/14
SFA Looks To Clarify Ashley's Intentions

The Scottish FA has written to Scottish Championship side Rangers and shareholder Mike Ashley "seeking clarification about his intentions" for the club, according to Chris McLaughlin of the BBC. Ashley, who owns EPL side Newcastle United, has provided Rangers with a £2M ($3.2M) loan in "return ...

Tags: Franchises, United Kingdom

10/29/14
Parish: No Imminent Takeover

EPL side Crystal Palace co-Chair Steve Parish denied that a takeover of the club by NBA Philadelphia 76ers Owner Josh Harris "is imminent," according to ESPN. American billionaire Harris "has been linked with the London club" amid reports in the London Guardian that a £70M deal is "90 percen ...

Tags: Franchises, United Kingdom

10/29/14
Franchise Notes

The presence of Hong Kong-based businessman Richard Li with Silvio and Barbara Berlusconi at AC Milan's 1-1 draw with Fiorentina on Sunday "has sparked media speculation of a China link for the Rossoneri." AC Milan "is reportedly looking for an investment partner who would be willing to take a minor ...

Tags: Franchises

10/28/14
Stuttgart Plans To Raise Up To $102M

Bundesliga club VfB Stuttgart is hoping to generate up to €80M ($102M) "from the sale of club shares after a proposed separation of the pro football department from the main club," according to the SID. Club President Bernd Wahler and Supervisory Board Chair Joachim Schmidt "announced the plans ...

Tags: Franchises, Europe

10/28/14
Barcelona To Present Appeal To TAS

Barcelona will this week present to the Spanish Court of Arbitration for Sport (TAS) an appeal to "reduce FIFA sanctions prohibiting the club from acquiring players for two signing periods," according to Fernando Polo of MUNDO DEPORTIVO. FIFA sanctioned the club "for signing minors in the transfer ...

Tags: Europe, Franchises

10/28/14
Rangers CEO Graham Wallace Fired

Scottish Championship side Rangers CEO Graham Wallace "has been fired" as part of shareholder Mike Ashley's "Ibrox power grab," according to Keith Jackson of the Scotland DAILY RECORD. Wallace -- who is "expected to be replaced by Ashley's right-hand man Derek Llambias -- was axed on Saturday mornin ...

Tags: Franchises, United Kingdom

10/28/14
Franchise Notes

Indian cricket team Captain Mahendra Singh Dhoni has "now become the owner of the Ranchi team" for the Hockey India League along with Sahara India Pariwar. The new franchise has been named the Ranchi Rays ( INDIAN TELEVISION, 10/27 ). ... A deal between EPL side Crystal Palace and American bu ...

Tags: Franchises

10/27/14
Peter Lim Completes Valencia Takeover

The sale of La Liga side Valencia "has been finalized," according to Conrado Valle of AS. The "necessary paperwork was signed simultaneously in Madrid and Valencia" on Friday, sealing a "new era for the club, which has never since its foundation in 1919 been controlled by foreign ownership." Singapo ...

Tags: Europe, Franchises

10/27/14
Report: Harris Close To Buying Palace

Two people with "direct knowledge of the talks" said that Apollo Global Management co-Founder Josh Harris "is close to an agreement" to buy EPL side Crystal Palace, a deal that would make him the fifth owner of both a major U.S. sports franchise and a team in the EPL, according to Soshnick & P ...

Tags: Franchises, United Kingdom

10/27/14
Caterham, Marussia To Miss Next Races

F1 CEO Bernie Ecclestone said that the struggling Caterham and Marussia F1 teams "will both miss next week's U.S. Grand Prix in Austin, Texas," according to Alan Baldwin of REUTERS. Ecclestone said, "Neither of those two teams are going to go to America." Their absence "will increase concern in the ...

Tags: Franchises

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