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Volume 10 No. 22


EPL side Swansea has announced it made a net profit of £15.3M ($24.6M) for the year, according to WALES ONLINE. The figure was up £700,000 ($1.1M) on the same time in '12. Turnover at the club, "excluding player dealings," increased by £1.9M ($3M) to £67.1M ($108M), up from £65.2M ($1056M) "the previous year." Profit "before interest charges and taxation amounted" to £20.6M ($33M), which was made up of £8.4M ($13.5M) from "normal operations" and £12.2M ($19.6M) from "player dealings which arose in the main from the sale of players Joe Allen and Scott Sinclair" (WALES ONLINE, 10/31). The BBC reported Swansea "said it has used the money to build a youth academy training facility near the Liberty Stadium and a training complex at Fairwood." Swansea finished ninth in the Premier League last season and "won their first major trophy, the Capital One Cup, which gave them entry into this season's Europa League." The club "have made a profit ever since joining the Premier League." Swansea has submitted plans to "increase the capacity of the council-owned Liberty Stadium home from 20,500 to 32,000, and work is underway on the new training facility on land acquired on lease from Swansea University" (BBC, 10/31).

Scottish League 1 Rangers "have stepped up their hunt for a new chief executive following the departure of Craig Mather earlier this month," according to the Scotland DAILY RECORD. The Ibrox club, bogged down by a fierce boardroom power battle, "took out an advert in the Financial Times newspaper" Thursday. The ad, placed by Rangers Int'l Football Club plc, said that "the position would involve leading and developing strategy and commercial activity and liaising with the club's supporters, football authorities and shareholders." It added that the role requires a "candidate of exceptional quality and experience" and someone with a "proven track record of success within sport" (DAILY RECORD, 10/31).

Spain's Ner business consortium, which consists of 21 Spanish companies, informed that it has canceled a project to fund a new developmental cycling team to compete at the continental level, according to the EFE. The Ner group said this is because the "agreement it had reached with the Euskadi Cycling Foundation has broken down." Euskadi's continental team is "different from the already disappeared Euskaltel-Euskadi professional team." The Euskadi Foundation, however, "has denied that were was ever an agreement with the Ner group," which said that its objective was to "coordinate the future of the Euskadi Foundation and expand youth, amateur and continental cycling" (EFE, 10/31).