Finance & Law

British horseracing commercial group The Jockey Club posted a record annual turnover of £183.3m (€232.9m/$263.8m) in 2015, it has been announced.

Collective pre-tax profits generated by English Premier League football clubs dropped by 37 per cent in the 2014-15 season, according to a new report by financial services company Deloitte.

Former Fifa vice-president Alfredo Hawit pleaded guilty yesterday (Monday) in a US federal court to four conspiracy charges relating to bribery schemes associated with football commercial rights.

SA Rugby, the governing body of rugby union in South Africa, has announced a group post-tax profit of R16.7m (€997,000/$1.1m) for the year ending December 31, 2015 – a significant improvement on figures recorded for the previous 12 months.

The Spanish High Court in Barcelona has elected to suspend the trial against Liga football club Barcelona and its former and current presidents, Sandro Rosell and Josep Maria Bartomeu, in relation to alleged tax evasion linked to the signing of Brazilian forward Neymar.

Dorna Sports, commercial rights-holder of the MotoGP and Superbike World Championship (WorldSBK) motorcycling series, has said it is considering its options following a court ruling over its tax affairs.

Italian financial police have seized assets from footballers, their agents and club executives as part of a probe into alleged tax evasion in Serie A and Serie B, the top two divisions of the domestic game.

Crystal Palace has confirmed that American businessmen David Blitzer and Josh Harris have acquired a stake in the English Premier League football club.

Bayern Munich generated record profits for its 2014-15 financial year, as the German Bundesliga football club just fell short of the turnover landmark set in the 2013-14 campaign.

The Welsh Rugby Union (WRU) has reported record turnover of £64.2m (€88m/$98.6m) for the last financial year after including the figures of its new subsidiary Millennium Stadium Experience Limited in its annual report for the first time.

FanDuel has revealed that it has been able to generate $275m (€249.7m) in Series E financing, bringing the total capital raised by the one-day fantasy sports operator to $363m.

France’s highest administrative court has today (Thursday) thrown out a disputed agreement between the French Football League (LFP) and AS Monaco which allows the club to compete in Ligue 1 without losing the benefit of being fiscally based in a tax haven.

The Spanish Football League (LFP) has today (Friday) demoted Elche from La Liga due to “very serious infractions” of the top division’s Law of Sport and company statutes.

The NFL American football league has moved to give up the decades-long tax-exempt status enjoyed by its front office, with commissioner Roger Goodell stating that the decision will eliminate a “distraction” for the organisation that been “mischaracterised” for years.

Galatasaray is considering its first share sale exclusively to members of the Turkish Super Lig football club.

The new owners of the Milwaukee Bucks have committed an extra $50 million (€41m) towards building a new home arena for the National Basketball Association (NBA) franchise.

US sports business investment firm Alchemy Global has launched a London office as it seeks to extend its worldwide presence.