Finance & Law
Chelsea accounts reveal hotel sale to parent company
Chelsea FC has sold a hotel and land worth more than £76m on its Stamford Bridge stadium site to parent company BlueCo in an apparent attempt to reduce its losses in order to comply with the Premier League's Profitability and Sustainability Rules.
Ex-IBU president Besseberg jailed in Norway for corruption
Anders Besseberg, the disgraced former president of the International Biathlon Union (IBU), has been sentenced to three years and one month in prison for aggravated corruption.
Trimmed budget, around 10 core sports for returning Commonwealth Games in Glasgow
The proposal of a curtailed budget of between £130m and £150m for a 2026 Commonwealth Games in Glasgow, with £100m offset by the CGF, could serve as a blueprint to help attract hosts for future editions.
777 Partners seeks loan extension with Everton takeover in jeopardy
The attempted takeover of Everton by 777 Partners is approaching a critical stage with growing doubts over the US investment fund’s ability to the finance the deal, and concerns for the very existence of the Premier League club.
Wasserman strengthens women’s football business with Volante swoop
Leading talent representation and marketing company Wasserman is attempting to broaden its influence in women's football away from its United States heartland by acquiring the UK's Volante Sports agency.
Paris 2024 revenue talks continue, ASOIF ‘has to live’ with winter sports’ share
The Association of Summer Olympic International Federations (ASOIF) continues to have discussions over the final total of Paris 2024 revenues they will receive, talks that the body concedes are “not e…
Growth plans set out for Grand Slam of Curling as Sportsnet sells up
The Curling Group has agreed a deal to assume ownership and operations of Canadian-focused events organisation the Grand Slam of Curling.
Coe: Olympic prize money is ‘the right thing to do’
World Athletics has taken the unprecedented step of ringfencing a share of its Olympic revenues to reward gold medal winners at the Games
Fifa open to reverse ban on overseas league matches after historic settlement
Fifa says it will consider changes to its policy that currently blocks domestic football league matches from being played in other countries, paving the way for high-profile competitive league games to…
CFG posts another loss despite Manchester City profits
City Football Group (CFG), the parent company of Premier League club Manchester City, has announced record revenue of £877m (€1.022bn/$1.106bn) for the 2022-23 financial year but recorded a further pre-tax loss of £126m.
Greenfly nets $14m investment in burgeoning AI digital clips sector
US digital media company Greenfly has announced the closing of equity investments of $14m, highlighting the growing importance of short-form digital content tech suppliers in the sports media sector.
WTA follows ATP with closer Saudi ties as Finals head to Riyadh
The Women’s Tennis Association (WTA) has announced its season-ending WTA Finals will be staged in the Saudi capital Riyadh after it agreed a three-year deal with the Saudi Tennis Federation (STF).
Shapiro’s Endeavor salary hits $7m, Whitesell to launch media company with $250m funding
Mark Shapiro, president and chief operating officer of Endeavor, has secured a salary increase to $7m (€6.4m) on the back of the agreement struck to take the sports and entertainment giant private.
Tottenham seeking outside investment despite record revenues
Premier League club Tottenham Hotspur is in talks with "prospective investors" after reporting losses of £86.8m (€101.2m/$109.4m
Endeavor valued at $13bn in Silver Lake’s privatisation plans
Endeavor, the sports and entertainment giant that owns the IMG agency and Ultimate Fighting Championship (UFC) and World Wrestling Entertainment (WWE) properties, is going private three years after listing on the New York Stock Exchange.
Brighton posts record profits on back of on-pitch success, player trading
Brighton & Hove Albion has announced record turnover and profits for the 2022-23 financial year after its most successful season in the English Premier League.
In-game digital buys becoming key revenue stream for esports teams
A shift in the esports revenue distribution model away from prioritising sponsorship to focus more on in-game digital purchases is set to become the new norm, industry experts have predicted.
Arctos closes second sports investment fund at more than $4.1bn
Private investment firm Arctos has announced the final close of Arctos Sports Partners Fund II, the latest iteration of its sports fund, with over $4.1bn (€3.8bn) in capital commitments.