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Executive Transactions

Published in SportsBusiness Daily Global on 11 / 26 / 14

The Greek Super League elected Asteras Tripolis President GIORGOS BOROVILOS as president on Monday "after he secured 13 votes out of the 16 teams in the league," with Panthrakikos President DIMITRIS TZELEPIS elected as his deputy ( REUTERS, 11/25 ). ... The NBA announced that JAN MENNEKEN h...

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Report: Harris Close To Buying Palace

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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 ...

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10/27/14
Rangers Accept Ashley's $3.2M Bailout

Scottish Championship side Rangers accepted shareholder Mike Ashley's £2M ($3.2M) bailout on Saturday and "there are now no rules" to stop the EPL side Newcastle United owner from "seizing total control of the club," according to Scott McDermott of the Scotland DAILY RECORD. Ashley "could make ...

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10/24/14
Packer Buys 37.5% Share In NRL Souths

National Rugby League side South Sydney is "set to become one of the most powerful sporting clubs in the country," after billionaire James Packer joined Russell Crowe as a co-owner of the club on Thursday, according to the AAP. Packer has bought out Peter Holmes a Court’s 37.5% share in the Ra ...

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10/24/14
Penn Family Takes Over NRL Side Manly

The "days of infighting" at National Rugby League side Manly "appear over," according to Brent Read of THE AUSTRALIAN. After "years of bickering, the Penn family has completed" a A$6M ($5.25M) buy-out of Quantum's share in the club, "bringing peace to the boardroom." It means the Penn family now own ...

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10/24/14
Caterham Formula One Factory Closed

Caterham F1 employees "found their factory closed on Thursday but a legal administrator overseeing the property held out hope that the struggling team might still survive," according to Alan Baldwin of REUTERS. Finbarr O'Connell, joint administrator for Caterham Sports Ltd., a company that makes and ...

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10/23/14
Bayer To Pay Back Sponsorship Money

Bundesliga side Bayer Leverkusen "will suffer a huge financial blow," according to the SID. In the lawsuit against Bayer's former shirt sponsor Teldafax, the Cologne District Court "decided that the club will have to pay back" around €16M ($20M) of sponsorship payments from '09-11 plus interest ...

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Mohd Sporting Facing Existential Crisis

At a time when the Indian Super League "has added a touch of glamour to football in the country," Mohammedan Sporting, one of the nation’s oldest clubs, "is facing an existential crisis," according to Drimi Chaudhuri of the DECCAN HERALD. Due to a "severe financial crisis," the 123-year-old cl ...

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Businessman Buys Polish Football Club

Polish businessman Jerzy Wozniak "has taken just over 96% stake in Polish second tier side Flota Swinoujscie, which turned itself into a private limited company," according to Jaroslaw Adamowski of INSIDE WORLD FOOTBALL. The "club's association holds 3% of the shares, and the Polish city, which prev ...

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Sarajevo's KK Bosna 'Freezes' Activity

Sarajevo-based basketball club KK Bosna announced that it "has ceased its activity due to grave financial and personnel problems," according to the EFE. The club made the decision to "freeze" activity on Tuesday night. The team won a European championship in '79. KK Bosna "has been on the border of ...

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