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Volume 6 No. 235

Finance

Transfer fees of more than £100M ($128.6M) were on Monday "forecast to soon become commonplace following an analysis of signings made by Europe's top clubs," according to Ben Rumsby of the London TELEGRAPH. Financial expert PricewaterhouseCoopers predicted such figures "would be the norm" before '25, saying that it had tracked every transfer involving the top-20 ranked UEFA teams from '01 to the current window and the 20 largest deals conducted each season, "alongside the progression of club revenues." PwC said that the figures were analyzed before Neymar’s £200M ($257.3M) move from Barcelona to Paris St. Germain and that "a deal of that size had not been expected for another five-to-seven years." It forecast the average fee for the biggest 20 transfers each season would grow at a compound annual growth rate of 9%, reaching £65M ($83.6M) by the '24-25 season (TELEGRAPH, 8/14).

Chinese sportswear brand Anta Sports reported "better-than-expected profit growth" for the first half of '17 as the company said that its multi-brand strategy "delivered market share gains in both the mass and high end sports wear markets," according to Jane Li of the SOUTH CHINA MORNING POST. Net profit rose 28.5% to 1.5B yuan ($217.8M), or 0.56 yuan per share, from last year's 1.1B yuan, the Fujian-based company said. The result beat the 1.3B yuan ($194.7M) consensus forecast of analysts polled by Bloomberg. Revenue for the period increased 19.2% to 7.3B yuan ($1.09B), from 6.1B yuan in '16, in line with analyst consensus estimates of 7.2B yuan ($1.08B). Anta Sports attributed the net profit growth to "surging demand" for sportswear products from Chinese consumers as well as its multi-brand strategy (SCMP, 8/15).

Scottish Championship side Inverness Caledonian Thistle's board said that it secured £500,000 ($643,200) of "new investment" to address "financial shortfalls," according to the BBC. The announcement followed a "financial health check" by accountants on the club's business plan. Inverness Chair Willie Finlayson "is also to be succeeded" by Graham Rae at the end of September. The club's board said in a statement, "The results [of the financial health check] identified some gaps and opportunities for improvement. Steps were taken quickly to address this situation. We are pleased to report that, by the end of September this year, the club will have secured £500,000 of new investment, which will be fully utilized towards addressing past and current financial shortfalls." Inverness was relegated from the Scottish Premiership last season following seven years in the top flight and "underwent a series of boardroom changes" as well as the appointment of a new manager in John Robertson. The club also appointed Danny McDonald as CCO. Inverness hopes to finalize a deal with construction firm Tulloch Group to take ownership of the Tulloch Caledonian Stadium. The board statement added, "The Tulloch Group very generously offered in December 2016 to gift the stadium back to the club, write off arrears of rent that had accumulated and ensure we could move forward on a rent-free basis" (BBC, 8/14).