Austrian Bundesliga club Rapid Vienna could "slip into a financial hole" if the team does not reach the group stage of the UEFA Europa League. Rapid President Rudlof Edlinger said "the club's reserve assets are used up" after a season in which the team failed to qualify for the Europa League. In addition, the highly indebted Scottish side Rangers still owes Rapid €890,000 ($1.1M) from a player transfer in '10. Rapid also needs money for the planned renovation of its home ground the Hanappi-Stadium. So far the team has not been able to acquire another investor besides the city. This means instead of a big stadium upgrade, the stadium might only get a little overhaul (KURIER, 7/11).
FIRST OFFICIAL ACT: The SID reported that the Kuwait-based Al-Hasawi family, who bought English Championship club Nottingham Forest on Tuesday, "fired team Manager Steve Cotterill." Former EPL Tottenham Hotspur Manager Harry Redknapp "has emerged as one of the bookies' favorites" to fill the vacant position (SID, 7/12).