Finance & Law

A Spanish court has today (Friday) withdrawn a 21-month sentence handed to Lionel Messi for tax fraud, and instead issued the Argentine football superstar with a fine of €250,000 ($285,600).

English Premier League football clubs posted record revenues, but still a collective pre-tax loss of £110m (€131m/$141m) in the 2015-16 season, according to the latest figures from accountancy firm Deloitte.

Williams Grand Prix Holdings, the holdings company which includes the eponymous Formula One team, has returned to profit and has reported a significant increase in revenue as it stated its confidence in the future of the motor racing series under the stewardship of new owner Liberty Media.

German sportswear company Puma has posted a 33-per-cent increase in operating profit to continue its financial improvement on the back of a year of major sporting events.

Kevin Roberts considers the impact of the disruptive Chinese Super League's mega-millions on football's established superpowers.

Manchester United has dislodged Real Madrid as the top revenue-generating football club in the world for the first time in 11 seasons, according to Deloitte’s annual Money League rankings.

English Premier League football club Chelsea has reported a net loss of £70.6m (€84.2m/$88.1m) for the 2015-16 financial year despite posting record turnover.

The Wanda Sports division of Dalian Wanda is targeting a double-digit profit margin by 2020 with a view to listing on the stock exchange, according to chairman of the Chinese conglomerate, Wang Jianlin.

Bayern Munich has posted a sharp 20-per-cent rise in turnover for the 2015-16 financial year as the German Bundesliga football club confirmed the return of Uli Hoeness as president following his jail term for tax evasion.

BLK, a sportswear company that has partnerships with numerous professional sports franchises and organisations, including several clubs in the Australian Football League (AFL) Aussie rules competition, has been placed into receivership.

English Premier League football club Manchester City has continued the upward trend recorded in its financial results by nearly doubling its profits and posting record revenues for the 2015-16 period.

Formula One team Mercedes has reported significantly enhanced financial figures in its latest set of accounts, as the German marque reaps the benefits of its dominance in the motor racing series.

English Premier League football club Arsenal has recorded a significant reduction in profit, but enhanced revenue figures, in its financial results for the year ending May 31, 2016.

Formula One’s parent company has recorded a 30 per cent rise in its operating profits as takeover speculation continues to swirl around the motor racing championship.

France’s Secretary of State for Sport, Thierry Braillard, has said that the proposed new professional domestic boxing league is set to launch in the first half of 2017.

Spanish LaLiga football club Barcelona has reported record revenues of €679m ($749.6m) for its 2015-16 season as it continues to head towards its target of reaching the €1bn mark by 2021.