Finance & Law
Romelu Lukaku latest athlete to invest in Therabody
Belgian footballer Romelu Lukaku has become the latest athlete to invest in and become an ambassador of wellness brand Therabody
LTA announces 2020 financial results, including £30m revenue drop
The Lawn Tennis Association has published its financial statements for 2020, showing the impact that the Covid-19 pandemic has had on the British tennis governing body
ATP Media’s 2020 revenue drop limited by broadcaster relationships, insurance claim
Revenues at ATP Media, the ATP Tour’s international media rights sales and broadcast production arm, fell by 38.3 per cent in 2020 to $86.1m (€70.6m)
Sales tear continues for Dick’s Sporting Goods
American retailer reports robust earnings for fiscal first quarter
NFL remains fully planning for full stadiums this fall
League, union also set 2022 salary cap ceiling of $208.2m
Fifa identifies broadcast as women’s football’s potential growth area
Broadcasting women’s football on traditional and digital platforms represents a significant growth opportunity, according to a new report on the state of the global women’s game issued by Fifa.
Limited partner lawsuit challenges Timberwolves sale
Minority investor claims current owner Taylor violating tag-along rights
Szymanski: Relegation causes most of football’s financial problems, but I wouldn’t get rid of it
SportBusiness has conducted a series of interviews with senior figures from European football, asking them to define a ‘sustainable’ economic model for the game on the continent. In the fourth article in the series, football economist and author Stefan Szymanski argues a degree of financial instability is an inevitable part of European football.
Aiba announces settling of $10m Benkons debt following Gazprom sponsorship
The International Boxing Association (Aiba), the sport’s world governing body seeking to implement reform and recover its role in organising boxing events at the Olympics, has announced today (Wednesday) t…
Borussia Dortmund forecasts €75m losses for 2020-21
German Bundesliga side Borussia Dortmund has projected total losses of €75m (£65m/$91m) for the current financial year, the club has said in a statement.
PSG furthers US drive with LA retail store in Fanatics tie-up
French Ligue 1 club Paris Saint-Germain has set a first for a European football team by opening a permanent retail store in the US as part of its deal with global sports merchandising company Fanatics
Fnatic raises $17m in funding round led by Marubeni
Fnatic, the London-based esports organisation, has announced a $17m (€13.9m) funding round led by Japanese conglomerate Marubeni Corporation.
Uefa opens proceedings against Super League rebels
Uefa, football’s European governing body, has opened disciplinary proceedings against Spanish LaLiga clubs Barcelona and Real Madrid and Italian Serie A outfit Juventus over their role in the breakaway E…
Turner: Keeping the collective model is football’s biggest challenge
SportBusiness has conducted a series of interviews with senior figures from European football, asking them to define a ‘sustainable’ economic model for the game on the continent. In the third article in the series, Frank Dunne speaks to Stuart Turner who served as the Football Association’s head of broadcast, from 2004 to 2011, and commercial director, from 2011 to 2016.
Research body: Cancelling Tokyo 2020 would cost Japan $16.5bn, Covid impact worse
Cancelling the 2020 Tokyo Olympics and Paralympics would cost Japan an estimated ¥1.8tn ($16.5bn/€13.5b
Rays owner Sternberg sued by minority partners
Investors allege MLB club owner conspired to improperly boost equity stake
Aser Ventures buys strategic stake in Swedish digital agency Creed Media
Sports investment company Aser Ventures has acquired a strategic stake in Stockholm-based digital marketing agency Creed Media
Atlético Madrid seeks to shore up position with €182m capital increase
Spanish LaLiga football club Atlético de Madrid has called an extraordinary general meeting of its shareholders in a bid to shore up its financial position with a capital increase of €181.8m ($222.8m).