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Finance Notes: Belgian Entrepreneur Marc Coucke Buys Anderlecht

Belgian pharmaceutical entrepreneur Marc Coucke agreed to buy Belgian First Division A side Anderlecht from a group of investors "for an undisclosed sum." The club had been owned by a group of investors headed by the Vanden Stock family. While the club did not say how much Coucke paid for Anderlecht, local media reported an asking price of up to €100M ($77M) (REUTERS, 12/20).

Premiership Rugby side Wasps "breached its bondholder covenants" as it overstated its profit by £1.1M ($1.5M) after classing shareholder contributions as income. Wasps said that its EBITDA had been £2.4M in the year ended June 30, not the £3.5M it had previously reported, amid "accounting irregularities" relating to a £1.1M cash contribution from one of its shareholders. It had classed the £1.1M under income, which auditor PricewaterhouseCoopers found was incorrect, and should have also accounted for the cash in the financial year to end June 30, 2018, due to when it received the cash (London TELEGRAPH, 12/21).

A mistake in work done to determine the economic benefit of the America's Cup to New Zealand has been revised -- and "it shows the country might not break even." The Ministry of Business, Innovation & Employment revealed Market Economics said that "there were errors in the cost-benefit analysis it initially presented." The data "does not affect the prediction" that the cup would provide between NZ$600M ($420.7M) and NZ$1B ($701.2M) in value-add to the New Zealand economy and an employment boost of 4,700 to 8,300. But the costs involved "may be higher than originally estimated" (STUFF, 12/21).

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