Premier League side Cardiff City Owner Vincent Tan converted a further £66.4M ($88.2M) the club owes him into equity. The Malaysian businessman has been "reducing the loans" owed by the club and previously said that he "aims to have it debt-free" by '21. Tan subscribed for more than 664 million shares at 10p (BBC, 7/6).
Sports Direct was granted an interim injunction that could delay Scottish Premiership side Rangers selling the club's new strips. The retail group, owned by EPL side Newcastle United Owner Mike Ashley, alleged that "a deal between the two parties has been breached." Ashley and Rangers Chair Dave King negotiated new terms last June at a cost of £3M ($4M) to the club. That agreement is "due to expire" and Rangers wants to conclude a deal with another retailer (BBC, 7/7).
Goldman Sachs' report on the esports industry projects annual revenue to grow from $655M in '17 to $2.96B by '22. That projection "comes largely on the back of the massive growth potential the company sees in the esports population." According to the report, the total global gamer population in '18 is 2.2 billion, out of a total online population of 3.65 billion. Esports viewership only accounts for 5% of the total online population now. Even among active gamers, the esports industry appears to be "far from saturated." Media rights currently account for 14% of esports revenue, while sponsorships make up 38% (THE ESPORTS OBSERVER, 7/6).
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