If the betting markets are a "reflection of interest in a sports event," the Nations League "is a success, with a significant increase in the total amount wagered on matches compared to comparable volumes on friendlies that would have been played previously." The "competitive nature of the competition" has led to punters increasing average volumes per game by £2M ($2.57M) in the U.K. Punters spent an extra £4M ($5.1M) on the Spain-England Nations League fixture in October compared with the same friendly fixture in '16, an increase of about 25% (INSIDE WORLD FOOTBALL, 11/16).
The Indian finance ministry proposed to "slash the ministry of youth affairs and sports' budget allocation for the current financial year by almost one-fourth due to low spending during the first half of the fiscal" year. Sources said that the sports department could have its allocation reduced by more than Rs 350 crore ($52.6M), while the reduction for youth affairs "could be around" Rs 139 crore ($20.9M). While discussions for the revised estimates for the year are underway, the overall reduction "could be of the order" of Rs 490 crore ($73.7M) against an allocation of Rs 2,196 crore ($330.1M) (TNN, 11/15).
Billionaire Mike Ashley cut hundreds of Evans Cycles jobs despite advice from the chain's administrator that "almost all" of its stores are profitable. Sports Direct, which "snapped up the remnants of the bicycle retailer last month," warned that "only half its stores can be kept open." Evans Cycles has 62 shops and employs 1,300 people. An administrators' proposals document revealed that PwC concluded the company was "burdened" by fixed costs at its head office (London TELEGRAPH, 11/17).
RFRSH Entertainment sold one of its Counter-Strike: Global Offensive teams, Heroic, to Seranades Global Inc. The move leaves Astralis as "the only remaining esports team owned by RFRSH." As a part of the sale, Heroic's player contracts, licenses, trademarks and brand rights will be transferred to Seranades. Financial terms of the deal were not disclosed (THE ESPORTS OBSERVER, 11/16).
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