Finance & Money

English Premier League football club Everton has announced a net profit of £1.6m (€1.9m/$2.6m) for the 2012-13 season, with the financial results signifying a £10.7m upswing in comparison with the previous year’s figures.

The Yota Devices has acquired a minority stake in Lotus as part of an agreement that will guarantee the smartphone manufacturer branding exposure on the Formula One team’s cars.

Barcelona has confirmed that the deal to sign Brazilian superstar Neymar cost the Spanish Liga club €86.2m ($117.2m) – nearly €30m more than originally disclosed.

English Premier League club Manchester City has expanded its global empire by striking a deal to acquire a controlling stake in the Melbourne Heart franchise in Australia.

The controversy surrounding the transfer of Brazilian superstar Neymar to Spanish Liga football club Barcelona is to be investigated by a Spanish court, it was announced today (Wednesday).

Rio de Janeiro’s budget for hosting the 2016 summer Olympic Games will finally be announced at the end of January, according to the Bloomberg news agency.

Snowboarding ace Shaun White has acquired a controlling stake in the sport’s Austrian Air & Style series.

The Fiji Rugby Union, the country’s governing body of rugby union, has pledged to resolve administration issues that have led to a suspension in central financial support from the International Rugby Board (IRB), the sport’s global governing body.

Laurel Richie, president of the Women’s National Basketball Association (WNBA), has confirmed that the Los Angeles Sparks' ownership group has given up control of the franchise.

French Football League (LFP) president Frédéric Thiriez has called the decision by the country’s top constitutional body to ratify the government’s ‘super tax’ on high earners “deeply regrettable”.

English Premier League football club Chelsea remains confident of meeting Uefa’s Financial Fair Play (FFP) regulations despite posting annual losses of £49.4m (€59.6m/$81.7m) in the year to June 30.

The European Commission’s investigation into state support for Spanish football clubs is not part of a jealous witch hunt against the country, according to one of the complainants.

The European Commission has opened a three-pronged investigation into allegations that several Spanish Liga football clubs, including Real Madrid and Barcelona, benefited unfairly from state support.

The European Commission is to launch disciplinary proceedings against seven Spanish football clubs, including Barcelona and Real Madrid, over allegations of benefiting from favourable financial treatment from the state.

The French government has suppressed an amendment that would have forced top-tier Ligue 1 club Monaco to fall in line with the country’s so-called new ‘super tax’ on salaries exceeding €1m ($1.4m).

Formula One supremo Bernie Ecclestone has received backing from the board to remain the head of the motor sport unless he is convicted for bribery allegations by German authorities.

AS Monaco has filed two legal suits against the French Football League (LFP) in a tax dispute that has sparked calls from Ligue 1 clubs to stop Monaco from entering the top flight.