Finance & Law
AC Milan blames Covid-19 and Europa League ban for €195m loss
AC Milan will record a net loss of €195m ($230.3m) for the year ended 30 June 2020, blaming the Covid-19 pandemic and a ban from participating in the Uefa Europa League for the disappointing results.
LFP seeks bank loan to cover TV rights shortfall, puts onus on Mediapro ownership
France’s Professional Football League (LFP) has reacted to delays in its next media-rights payment from Mediapro, the agency and production group, by looking to put in place a bank loan so that clubs c…
‘Project Big Picture’ seeks to overhaul English football
The Premier League has hit out at the emergence of a major reform plan for the English football system, driven by Liverpool and Manchester United, and backed by the English Football League (EFL), stating…
Henry eyes taking Fenway Sports Group public with RedBall
Potential blockbuster deal would value Red Sox, Liverpool parent company at $8bn
Hedge fund billionaire buys into second sports SPAC
Englander takes 8.6 per cent stake in SPAC led by Grubman, Collins
Sports-related SPACs rise in prominence
Recent months have seen an historic surge in sports-related public stock offerings using special purpose acquisition companies
ICM becomes one of world’s largest sports agencies with Stellar Group acquisition
The ICM Partners agency has acquired Stellar Group, the London-based sports agency that represents over 800 athletes around the world
Round-Up: Talent agent ICM buys Stellar, fuboTV IPO, Snapchat partners with IPL teams, and more
US talent agency ICM Group has acquired UK sports agent Jonathan Barrett's Stellar Group - Reuters/CNA
Disney handed two-month extension to divest Fox Sports in Mexico
Media group Disney has been handed another two-month extension to sell the Mexican arm of Fox Sports by Mexico’s Federal Telecommunications Institute (IFT).
IMG-Reliance claims ‘record revenue’ after 36 IPL deals closed
IMG-Reliance, the joint venture between the IMG agency and Indian conglomerate Reliance Industries, says it has raised record revenue on the back of sponsorship and licensing deals for the Indian Premier…
Mediapro wants to renegotiate Ligue 1 rights contract as LFP payment deadline missed
Concerns have been raised among French football clubs after it emerged that Spanish agency and production group Mediapro has asked for more time to make its second broadcast rights fee instalment payment…
Premier League sues over terminated PPLive rights deal in China
The English Premier League is suing its former Chinese broadcast rights-holder for $215.3m (€183m) over its battle for unpaid rights fees, it has been reported.
Round-Up: Barca to cut wages, Nike airs first esports commercial, ICC image rights dispute, and more
Spanish football team Barcelona is cutting wages for players and staff due to losses caused by the pandemic - Reuters/CNA
DraftKings prices planned stock offering
Pricing represents a marked discount from recent share highs
Bain and CVC’s Serie A bids ‘revised’ as deadline extended
The private equity companies interested in acquiring a stake in Lega Serie A’s new media-rights business are thought to have revised their bids, with the offers to now be reviewed on October 13 after P…
Swedish esports start-up G-Loot secures $56m investment
G-Loot, the Swedish esports start-up, has announced that it has closed its latest funding round after attracting investment of SEK500m ($56m/€47.45m).
Round-Up: IOC reviews Tokyo cuts, Wuhan Sports Centre stages basketball, Serie A bids revised, and more
The International Olympic Committee is today reviewing proposed cuts and simplification measures for the Tokyo Olympics
Wanda Sports Group forms independent board to consider share acquisition bid
Wanda Sports Group has formed an independent committee to consider a proposal from a Dalian Wanda subsidiary to buy the outstanding Class A ordinary shares in the sports marketing firm and potentially…