Under the previous accounting period for the year to June 30 the company's sole source of income was represented by interest receivable on its cash balances.
But the company, which includes News Corporation and Nomura as shareholders, expects a number of deals to be concluded before the year-end.
“Since the end of the financial year [June 30], the company has undergone a fundamental transformation with the acquisition of the World Sport Group Limited and Parallel Media Group International Limited,” said chairman J D N Ciclitira, adding that the new December 31 accounting period could include “the successful conclusion of certain major sponsorship contracts that management had originally hoped to finalise in the autumn.”
World Sport controls the commercial and media rights to a number of major sporting properties, with 80 percent of it revenues generated from the Asian market.
World Sport Group owns the media and marketing rights to the Asian Professional Golfers' Association (Asian PGA) for 90 years and rights to Asian Professional Football until 2009 (with matching rights to 2013).
The company says it is experiencing a heightened interest by multi-nationals in sports events ahead of the World Cup in Japan and South Korea in 2002 and the Asian Cup in China in 2004.
In partnership with News Corporation, it also has the rights to ICC International Cricket, including the World Cups in 2003 (South Africa) and 2007 (West Indies).
World Sport, which is currently capitalised at £53milion ($72.25m/B85.2m), said it is continuing to look at a number of add-on acquisitions to accelerate its growth.
