Finance

Wembley bid to host 2011 Champions League final on - 13 May 08

The UK's Wembley stadium could be a strong contender to host the 2011 Champions League final after the UK government agreed to relax tax charges on overseas footballers' earnings.

IRB announces £48m investment scheme - 13 May 08

The International Rugby Board has announced a £48 million investment programme aimed at raising standards of the sport's developing nations.

Juventus announces third-quarter results - 13 May 08

Italian Serie A club, Juventus, announced a net loss of €800,000 in its third-quarter, significantly less than the €4.5 million loss it reported a year earlier.

IOC set to receive $2.5bn from broadcasters - 9 May 08

The International Olympic Committee will receive $2.5 billion from broadcasters between 2005 and 2008, according to an analysis by the Reuters news agency.

Super Aguri pull out of Formula One - 6 May 08

The Super Aguri team withdrew from the Formula One World Championship with immediate effect because of a lack of funding.

Manchester United tops Forbes rich list - 2 May 08

Manchester United is the most valuable football club in the world, according to Forbes magazine's latest rankings.

Premier League promotion worth £60m - 2 May 08

Promotion to England's football Premier League is worth at least £60 million and is the biggest financial boost a football club can receive, according to analysts at global accountancy firm, Deloitte.

PSG share sale approved by EC - 22 Apr 08

The European Commission has approved US-based private equity group Colony Capital’s proposed acquisition of a stake of around 30 per cent in Colfilm, the holding company of French football club Paris Saint-Germain.

UK-based Japanese F1 team in financial trouble - 18 Apr 08

The survival of the Super Aguri Formula One team is reported to be in doubt after mooted buyers the Magma Group pulled out at the last minute.

ARU looks for private investment - 17 Apr 08

The Australian Rugby Union is to consider private investment in its Super 14 franchises, the sport’s governing body has said.

Birmingham City shares suspended - 10 Apr 08

English football club, Birmingham City, has had its shares temporarily suspended after the club’s co-owners were arrested by police.

Setanta calls off sale - 7 Apr 08

Irish pay-television broadcaster, Setanta Sports, abandoned plans to sell itself after potential buyers balked at the £1 billion asking price.

News Corp set to increase stake in Premiere - 1 Apr 08

Rupert Murdoch's News Corp is expected to increase its 19.9 per cent stake in German pay-television group Premiere.

Tokyo’s bid to host 2016 Games boosted by strong S& P rating - 1 Apr 08

Japan's Bid to host the 2016 Olympic Games, received a boost as Standard & Poor's Ratings Services assigned its 'AA' long-term issuer credit rating to the Tokyo Metropolitan Government, confirming the financial and economic stability of the city of Tokyo.

AC Milan, Chelsea, Real Madrid and Lyon to discuss club revenue at Soccerex - 18 Mar 08

Four of the most successful clubs in Europe will convene at the Soccerex London Forum to outline how their revenue strategies differ and what the landscape is for the future.

F1 Grands Prix are the world’s most valuable annual sporting events - 17 Mar 08

Formula One boasts the world’s highest revenue generating annual sporting events, with the 18 Grands Prix in 2007 having an average revenue of $217 million, according to research from the Sports Business Group at Deloitte.

2010 Olympics announce Q2 budget results - 17 Mar 08

The Vancouver 2010 Olympic Organising Committee said it has agreed sponsorship agreements worth about $709 million, more than 90 per cent of its overall target of $760 million.

Hicks ends talks with DIC for Liverpool FC - 11 Mar 08

Liverpool FC co-owner, Tom Hicks, ended negotiations with Dubai International Capital over acquiring a 49 per cent stake in the club.

DIC £400m bid for Liverpool rejected - 5 Mar 08

Dubai International Capital (DIC), the investment arm of the Dubai government, has warned Liverpool FC's co-owner Tom Hicks that it will not improve on its £400 million offer for the club.  

Renault reveals pre-tax loss - 3 Mar 08

Renault's Formula One motor racing team made a pre-tax loss of £3.6 million in 2006 despite winning back-to-back world championships.

Hicks to block Liverpool takeover - 29 Feb 08

Liverpool FC co-owner Tom Hicks said he intends to retain control of the club and may block any attempt by George Gillette to sell to Dubai International Capital, the investment arm of the Dubai government.

Confusion reigns over possible Liverpool sale - 27 Feb 08

Contradictory media reports have created confusion over Liverpool FC co-owner Tom Hicks' plans for his stake in the club.

HSBC becomes official partner of the PRA - 26 Feb 08

HSBC agreed a deal become the Official Banking Partner of the Professional Rugby Players’ Association (PRA), the representative body and collective voice of professional rugby union players in England.

Silverstone out of the red - 25 Feb 08

Silverstone revealed it made a £1.3million profit during the 18-month period up until the end of 2006.

Arsenal and Chelsea announce half-year results - 22 Feb 08

English Premier League leaders, Arsenal posted a 54 per cent rise in first half profits on Friday while rival Premier League club Chelsea posted an annual loss of £74.8million.

News Corp increases stake in Premiere - 22 Feb 08

Rupert Murdoch's News Corporation has increased its stake in German pay-television operator Premiere to 19.9 per cent, adding to the 14.6 per cent it acquired last month.

Sony to be taken to court over IPL demands - 20 Feb 08

Four minority domestic investors in Sony Entertainment India, have taken the company to court over demands on them for capital to finance SET's commitments to the upcoming Indian Premier League tournament.

F1 Eastern expansion set to continue apace - 19 Feb 08

Formula One looks set to continue to target new events in new markets, particularly in the Middle and Far East, following reports that its advertising and hospitality division took a hit over the last twelve months.

BT considering bid for Setanta - 18 Feb 08

According to UK press reports, BT is considering making an offer for Setanta, the Irish pay-television company that owns rights to show some live Premier League football.

Football Money League: Manchester United rise but Real Madrid stay top - 14 Feb 08

Manchester United climbed two places to second in the latest Football Money League from business advisory firm Deloitte, which ranks the 20 biggest football clubs in the world based on revenue, but Real Madrid remains the world’s largest revenue generating club, completing a hat-trick of first place finishes.

Takeover rumours surround Setanta Sports - 11 Feb 08

Setanta Sports is bracing itself for a succession of takeover bids after an undisclosed European rival reportedly made an unsolicited bid of over €1 billion for the Irish pay-television broadcaster.

HD Partners lose NHRA bid - 1 Feb 08

HD Partners Acquisition Corporation has failed to acquire the world's largest drag racing organisation, the National Hot Rod Association (NHRA).  

Group proposes Liverpool FC fans 'buy-out’ - 31 Jan 08

Liverpool supporters are to launch an ambitious plan to buy the football club from its American owners, George Gillett and Tom Hicks. The ‘Share Liverpool FC’ Group will present a plan to organise the buy-out by 100,000 fans later today.

Hicks and Gillett close to financing deal - 25 Jan 08

The American owners of Liverpool FC are reportedly close to securing a £350m financing deal that should end takeover speculation about the club.

Record year for International Speedway Corp - 25 Jan 08

NASCAR track operators, International Speedway Corporation, have reported record financial results for the twelve months to November 30, 2007.

Transfer record smashed by Premier League clubs - 22 Jan 08

English Premier League clubs have spent a record amount of January transfer deals this year.

Hicks denies Liverpool sale to Dubai group - 21 Jan 08

Tom Hicks, the American co-investor in Liverpool FC, has denied that he is willing to sell his 50 per cent stake in the club to Dubai International Capital (DIC).

Formula One team budgets to be capped. - 18 Jan 08

Formula One teams’ individual operating budgets will be capped from the start of the 2009 season.

G14 group to disband after FIFA/UEFA agree compensation deal - 16 Jan 08

Football's World and European governing bodies signed a groundbreaking deal with Europe's top clubs, which will see national associations paying clubs a daily rate of compensation in return for their players participation in international competitions.

United success underpins record financial results - 11 Jan 08

Manchester United’s Premier League winning season has underpinned record turnover and profits for the Old Trafford club.

Murdoch's gains German TV hold with Premiere swoop - 8 Jan 08

Rupert Murdoch's News Corporation acquired a 14.58 per cent stake in German Pay-TV broadcaster Premiere AG, making it the company's biggest single shareholder.

Manchester United reassert financial dominance - 8 Jan 08

Manchester United is set to announce a record gross turnover of £245 million for the year to June 30, 2007.

English Rugby Union set for salary cap increase - 4 Jan 08

The salary cap for England's top rugby union sides will be increased to £4 million from next season.

Argentina could reinvigorate Super 14 and Tri-Nations competitions - 3 Jan 08

The Australian Rugby Union said that Southern Hemisphere rugby’s flagship competitions, the Super 14 and Tri-Nations, could be reinvigorated in quality and financially by the introduction of Argentina.

Prisa bids for control of Sogecable - 3 Jan 08

Spain’s biggest media company Prisa deposited a $3 billion guarantee with Madrid's stock market regulator underwriting a bid to increase its share in Sogecable, Spain's biggest pay-TV operator, by 50 per cent.

Manchester United profits to hit £75 million - 20 Dec 07

English Premier League club Manchester United is set to announce record profits of around £75 million.

Liverpool to downgrade stadium plans - 18 Dec 07

English Premier League club Liverpool said that plans for its new stadium in Stanley Park will be downgraded.

Mastercard appoint Collina as new brand ambassador - 18 Dec 07

Pierluigi Collina, the highly regarded Italian former referee, was appointed as MasterCard's new Football Ambassador.

Red Sox owners buy the Avalanche - 11 Dec 07

Fenway Sports Group, the marketing and entertainment arm of the company that owns the MLB’s Boston Red Sox, acquired the Salem Avalanche, a Class A team that's part of the Carolina League.

Cost of London 2012 ‘could’ rise again - 10 Dec 07

There is a 20 per cent chance that the cost of staging the 2012 Olympic Games could rise again, according to a UK government report.

Premiere takeover rumours persist - 7 Dec 07

Speculation continues that German media entrepreneur Leo Kirch or another competitor might be interested in taking over German pay-TV company Premiere.

UK government to reveal London 2012 budget plans - 5 Dec 07

The UK government will next week release new details of how the £9.3 billion London 2012 budget is being spent.

European Economy to Receive €1.4 Billion Boost from UEFA EURO 2008™ - 3 Dec 07

According to a MasterCard commissioned study UEFA’s EURO 2008™ will generate upwards of €1.4 billion for the European economy

Setanta raises financial war chest - 26 Nov 07

Setanta Sports has raised an extra €130 million according to UK media reports to finance its rights acquisitions.

UK sports retailers issue profit warnings - 23 Nov 07

England’s failure to qualify for Euro 2008 has immediately impacted on sports retailers with two major companies issuing profit warnings.

Yeung bid for Birmingham in the balance - 23 Nov 07

Asian investor Carson Yeung’s bid to take control of Premier League Birmingham city could be derailed by current chairman David Gold, according to a UK press report.

English defeat could add up to £1bn loss - 21 Nov 07

According to UK media reports, the consequences of an England failure against Croatia at Wembley tonight in the UEFA European qualifiers could be worth £1 billion.

Walt Disney reportedly in Derby County talks - 16 Nov 07

Walt Disney Group is said to be in talks to take over English Premier League club Derby County.

Ashley cashes in on Amer stocks - 12 Nov 07

Mike Ashley, the owner of Premier League Newcastle United, has sold the 12 per cent stake in Finnish sports company Amer Sports held by his Sports Direct sports retail chain.

Premiere scraps 2008 outlook over Bundesliga TV rights - 8 Nov 07

German pay TV broadcaster Premiere scrapped its 2008 outlook over uncertainty over the forthcoming TV rights sales process for German football’s Bundesliga – the German pay-TV market’s killer-application.

Shakhtar wait on FIFA for €25 million compensation claim - 2 Nov 07

Shakhtar Donetsk will today hear FIFA’s ruling on its claim for €25 million compensation from Spanish club Real Zaragoza after Shakhtar’s star player, Brazilian midfielder Francelino Matuzalem, walked out on the club to join the Spanish team.

Isle of Man TT earns £48m for local economy - 30 Oct 07

The economic impact of the year’s Centenary Isle of Man TT races to the Isle of Man economy was £48 million, according to the island’s Tourism and Leisure department.

MLB posts record revenues - 30 Oct 07

Major League Baseball will finish this year with just over $6 billion in revenue, according to Bob DuPuy, MLB's president and chief operating officer.

Nike strikes Umbro takeover deal - 24 Oct 07

Nike has reached agreement on an all-cash offer to acquire Umbro plc, the UK-based global football brand.

North One deal for World Rally - 5 Oct 07

North One Television acquired International Sportsworld Communicators (ISC) - the media and commercial rights holders of the FIA World
Rally Championship.

InterMedia Partners invests in WCSN - 2 Oct 07

World Championship Sports Network (WCSN) closed significant financing deal with private equity firm InterMedia Partners.

No Arsenal takeover from Usmanov, says Edelman - 1 Oct 07

Arsenal managing director Keith Edelman has told news sources that Alisher Usmanov, the Russian billionaire who recently increased his stake to 23 per cent, does not want to take over the club.

New funding round for ‘Superleague Formula’ - 27 Sep 07

Superleague Formula, the motor racing championship featuring football club brands, has announced a new round of financing.

Arsenal turnover hits £200 million - 25 Sep 07

Arsenal Football Club said that turnover has broken the £200 million barrier after the move to the Emirates Stadium.

America’s Cup surplus of €66.5 million distributed to teams - 19 Sep 07

AC Management (ACM), organiser of the 32nd America's Cup, distributed 90 per cent of the €66.5 million net surplus the event generated over the past four years to participating teams.

Arsenal is not up for sale - 11 Sep 07

Arsenal Chairman Peter Hill-Wood is willing to talk to new stakeholder Alisher Usmanov, but not about selling the club, according to UK media reports.

Hicks sizes up NASCAR investment - 10 Sep 07

Tom Hicks, the co-owner of Liverpool FC, has held talks with a major NASCAR racing team about a possible investment in the sport.

Broadcast revenues fuel record transfer spending - 4 Sep 07

Transfer spending by English clubs has exceeded £500 million this summer, around two thirds higher than the previous record of £300 million spent in summer 2006, according to analysis by the business advisory firm, Deloitte.

NEW WARRANTS FOR MAN CITY OWNER SHINAWATRA - 3 Sep 07

Authorities in Thailand have issued new warrants for the arrest of former Prime Minister Thaksin Shinawatra, now owner of Premier League Manchester City.

F1 DUO SPEED IN TO BUY QPR - 3 Sep 07

F1 power players Flavio Briatore and Bernie Ecclestone have finally unveiled details of a much-trailed £14 million offer for Queen's Park Rangers the English second tier football club.

Dein ready to strike after Russian share sale? - 31 Aug 07

Another Russian billionaire has moved into a powerful position at a top London Premier League soccer club – with Arsenal this time the team involved.

THAI AUTHORITIES CALL FOR ASSET FREEZE OVER MANCHESTER CITY DEAL - 2 Aug 07

Thailand’s Asset Examination Committee which ordered the former prime minister Thaksin Shinawatra’s domestic assets to be frozen has now said the money he used to acquire English Premier League club Manchester City may have been hidden from the government.

VIVENDI POSSIBLY IN FOR PREMIERE - 24 Jul 07

There is growing speculation that French media group Vivendi could be interested in a takeover of German pay-TV broadcaster Premiere according to various media reports.

ARSENAL BOARD WARNS OVER TAKEOVER BIDS - 23 Jul 07

English Premier League club Arsenal issued a warning over buyers as speculation increased that US businessman Stan Kroenke may make a bid to increase his stake in the club. Formula One supremo Bernie Ecclestone has also refused to rule out a takeover of Arsenal.

TOP MANAGERS AND OWNERS JOIN LINE-UP FOR ‘FUTURE OF FOOTBALL’ CONFERENCE - 23 Jul 07

Sir Alex Ferguson, Sam Allardyce, Alan Curbishley, Lawrie Sanchez, League Managers Association Chairman Howard Wilkinson and Aston Villa owner Randy Lerner are among the stellar group of football figures signed up for the first ‘Future of Football’ conference in London on 20 November 2007.

PROFITS FROM ICC CWC 2007 WILL ELIMINATE WICB DEFICIT - 11 Jul 07

ICC Cricket World Cup West Indies 2007 Inc. said that thanks to hosting the ninth ICC Cricket World Cup the current West Indies Cricket Board financial deficit would be eliminated.

CITY TAKEOVER ‘COMPLETE’ SAYS EX THAI PM - 9 Jul 07

The takeover of English soccer club Manchester City is completed, according to the man behind it – former Thai Prime Minister Thaksin Shinawatra.

HONG KONG MARKETER INVESTS IN SA RUGBY CLUB - 6 Jul 07

Hong Kong-based sports marketing company ActionHouse International has become a major shareholder of Valke Rugby, the professional South African Rugby Club who were Champions of the
Vodacom Cup in 2006.

BILLIONAIRE ASHLEY UPS NEWCASTLE UNITED STAKE - 29 Jun 07

Businessman Mike Ashley increased his stake in English Premier League club Newcastle United to 93.2 per cent.

UK SPORTS MINISTER TO HOLD TALKS ON PREMIER LEAGUE FOREIGN OWNERS - 27 Jun 07

UK sports minister Richard Caborn will today have talks with English football’s senior stakeholders, including the Premier League, the Football Association and the Football League over the increase of foreign owners at the country’s top clubs.

CITY SET FOR THAI TAKEOVER - 22 Jun 07

English soccer club Manchester City is on the verge of an $160m takeover by the former Prime Minister of Thailand.

NBA NETS NEW E-COMMERCE PARTNER - 22 Jun 07

The NBA has signed a long-term agreement with e-commerce specialists GSI Commerce.

INTER CHIEF DENIES ACCOUNTING CLAIMS - 21 Jun 07

The owner of Italian soccer giants Inter Milan has dismissed suggestions the club falsified accounts prior to the 2005-6 season.

GAK DENIED PLACE IN AUSTRIA'S SECOND DIVISION - 20 Jun 07

Former Austrian Bundesliga champions GAK may have to play in Austria's amateur leagues after losing a legal battle to stay in the Bundesliga’s second division.

BUY-OUT BIDS FOR BLACKBURN AND BIRMINGHAM - 18 Jun 07

Blackburn Rovers could become the fourth Premier League club to fall into American hands following interest from a consortium led by Daniel Williams, a Lancashire-born, American-based businessman.

SECOND NEW YORK MLS FRANCHISE COULD BE ON THE CARDS - 18 Jun 07

The New York Mets and several groups of investors are said to have held discussions about obtaining the rights to operate a second Major League Soccer franchise in New York according to US media reports.

BIRMINGHAM CITY ADMITS TAKEOVER APPROACH - 12 Jun 07

The owners of newly promoted Premier League club Birmingham City are in talks with a mystery billionaire about the sale of the club

RFL DECLARES 2006 PROFIT - 8 Jun 07

The Rugby Football League declared an annual profit for the fifth consecutive year.

SUGAR SELLS TOTTENHAM STAKE TO ENIC - 8 Jun 07

Sir Alan Sugar sold his remaining stake in English Premier League club to majority shareholder, sports and media group Enic, for £25 million.

ASHLEY POISED FOR NEWCASTLE TAKEOVER - 7 Jun 07

Premier League club Newcastle United should soon be in the hands of Mike Ashley after chairman Freddy Shepherd agreed to sell his shares in the club.

PREMIER LEAGUE TOWERS OVER WORLD FOOTBALL, SAYS DELOITTE - 31 May 07

Deloitte’s latest Annual Review of Football Finance reports that the Premier League, the richest football league in the world, is going to get even richer next year.

UEFA PRESIDENT PLATINI CALLS FOR G14 TO DISBAND - 29 May 07

UEFA president Michel Platini asked the G14 group of European football clubs to disband and also to drop a number of lawsuits it is supporting.

TAKEOVER BID LAUNCHED FOR NEWCASTLE UNITED - 24 May 07

UK sports retailing entrepreneur, Mike Ashley, has launched a bid to buy the entire issued capital of London Stock Exchange-listed football club Newcastle United.

CHAMPIONS LEAGUE WINNERS COULD EARN UP TO £67M - 23 May 07

Liverpool FC and AC Milan will battle it out for a windfall of up to £67 million when the 2007 UEFA Champions League Final kicks off tonight, according to research commissioned by MasterCard.

PORTLAND FRANCHISES BOUGHT BY MERRITT PAULSON - 22 May 07

Merritt Paulson, a former director of marketing and entertainment for NBA Entertainment, has become a majority owner of Portland, Oregon’s minor league baseball and soccer franchises.