Finance News Articles

Newcastle Utd posts turnover increase - 01 Apr 2013

Newcastle United has revealed an operating profit of £7.5 million last season, down from £13.3 million the year before, but a fifth-place finish helped the club to a turnover increase of 5.4% to £93.3 million. read more

Yorkshire request extra Tour de France funding - 22 Mar 2013

Welcome to Yorkshire, the organising body responsible for the Tour de France Grand Depart in 2014, which will take place in the region, has warned the government that more funding is needed to ensure the event is a success.  read more

Man Utd to enter new Nike negotiations - 12 Mar 2013

Barclays Premier League leaders Manchester United will enter into new talks with Nike this week in a bid to strike a more lucrative extension to the partnership, according to media reports. read more

Chime reveals Olympic profit boost - 07 Mar 2013

Chime Communications, the marketing services group, has revealed pre-tax profits of £25.3m, up 70% thanks to a boost from the Olympics and Paralympics. read more

Liverpool reveals price of CL Failure - 05 Mar 2013

The extent of the cost of failing to re-establish a club in Europe, despite heavy investment, has been revealed after Liverpool FC on Monday announced its debts had risen by a third to £87.2 million, while losses of £40.5 million were accumulated during the 2011/12 season. read more

Arsenal rejects takeover speculation - 04 Mar 2013

Arsenal has dismissed reports of a £1.5 billion takeover bid from a Middle East consortium, adding that majority owner Stan Kroenke has no intention of selling his stake in the under-fire Barclays Premier League side. read more

RVP transfer boosts Arsenal profits - 26 Feb 2013

Arsenal FC has announced a profit of £17.8 million in the club's latest half-yearly results, achieved effectively by the sale of Robin van Persie to Manchester United, with cash reserves also up £7 million to £123.3million. read more

Murray ventures into hotel business - 25 Feb 2013

Scottish tennis ace Andy Murray could be spending a little more time at home, after revealing a new luxury hotel venture near his home town. The US Open and Olympic champion has acquired Cromlix House Hotel, close to Dunblane, and plans to transform the Victorian mansion into a 15-room five star destination in time for the 2014 Ryder Cup in Glen… read more

PL clubs miss millions in lost seat revenue - 22 Feb 2013

Premier League football clubs are missing out on millions of pounds in lost home game revenue by failing to maximize match day sales, according to the latest analysis by BDRC Continental’s Sports and Sponsorship Insight team. read more

Swindon Town completes takeover - 21 Feb 2013

The Football League has approved a takeover of Swindon Town by a local consortium. The decision follows a period of financial uncertainty for the club that recently sent a letter to every club in the Football League stating that all players were for sale.  read more

Premier League leaders reveal profit rise - 15 Feb 2013

Premier League leaders Manchester United have announced a significant rise in profits for the second half of 2012, with pre-tax profits growing to £22.3 million. read more

Capital One Covers Costs for Final fans - 12 Feb 2013

Around 2,000 Bradford and Swansea fans will travel to the League Cup final at Wembley for free thanks to an initiative by competition sponsor’s Capital One. Whilst the nation gears up to face another reported 4p rise in fuel litre prices, the Capital One Convoy will set off on the long trip to Wembley on Sunday 24th February.  read more

PL clubs agree to spending controls - 08 Feb 2013

The Premier League has announced that clubs will be dealt a points deduction if they break new spending regulations, similar to the Financial Fair Play controls proposed by UEFA.  read more

ASICS reports financial results - 06 Feb 2013

ASICS has announced a sales increase of 8% in Europe for the third quarter of 2012. The brand saw a sharp rise in sales in its performance running products and footwear which rose by 40% and 10% respectively.  read more

Man Utd value tops $3 billion - 29 Jan 2013

The value of Barclays Premier League leaders Manchester United has topped $3 billion - the first sports team in the world to do so – following a surge in the club's shares. read more

Super League clubs face rising debts - 28 Jan 2013

Super League clubs are facing combined debts of £68.5m, according to a BBC Inside Out investigation, with several teams failing to generate sufficient turnover. read more

Women’s Champs League final details revealed - 23 Jan 2013

Tickets for the 2013 UEFA Women’s Champions League final, to be played on Thursday 23rd May at Stamford Bridge, are now available to buy. The biggest event in European women’s club football returns to London for the second time in three years after Fulham FC’s Craven Cottage hosted the 2011 final. read more

Tottenham reveals cost of CL absence - 23 Jan 2013

Tottenham Hotspur FC has announced a loss of £4.3m for the 2011/12 financial year, after missing out on Champions League football. Club revenue was down 12% to £144m from £163m while profit from operations dropped to £23m from £38m. read more

Swindon Town risks administration - 17 Jan 2013

League One club Swindon Town is reported to be considering administration in order to reduce its spiralling debts, thought to be up to £13m.  read more

McIlroy officially unveiled as Nike ambassador - 15 Jan 2013

As expected, Nike Golf officially announced the signing of world number one Rory McIlroy at a press conference in Abu Dhabi on Monday evening, in a multi-year agreement that will see the Northern Irishman sport Nike clubs, balls, footwear, glove, apparel, headwear and accessories – and could see the 23-year-old become one of the highest paid spo… read more

Record prize fund for John Smith’s Grand National - 09 Jan 2013

Aintree has announced that total prize money for the John Smith’s Grand National meeting in April will hit an all-time high of over £2.7 million, an increase of £185,000 (7.3%) for the three days from 2012. read more

Everton reveals soaring wage bill - 04 Jan 2013

Everton Football Club has released its annual results, revealing a soaring wage bill which now equates to 75% of the club’s turnover, and losses of nearly £10m. read more

Jockey Club reveals enhanced prize fund - 20 Dec 2012

The Jockey Club has announced its racecourse arm will offer more than £40 million in prize money in 2013, an increase of more than £5 million on 2012, which includes a record £18.6 million contribution directly from Jockey Club Racecourses.  read more

Premier League chiefs agree spending rules - 19 Dec 2012

All 20 Premier League clubs have provisionally agreed to introduce new costs measures in the league which, if implemented, would overhaul the current system.  read more

UK Sport reveals record investment - 18 Dec 2012

UK Sport has revealed its goal for Rio 2016, to become the first host nation in recent history to win more medals at the next summer Olympic and Paralympic Games, and will invest a record £347m into elite sports in order to do so. read more

Man City reveals drop in losses - 17 Dec 2012

Manchester City has released its Annual Report for the 2011/12 season revealing that the club’s annual losses more than halved compared to the previous season and that the club’s revenues broke the £200m threshold for the first time. read more

Portsmouth FC risk liquidation - 13 Dec 2012

Trevor Birch, Portsmouth FC’s administrator, has warned that the club faces the risk of liquidation as the matter is taken to the Royal Courts of Justice.  read more

FL reiterates Pompey point deduction - 11 Dec 2012

The Football League has reaffirmed its intention to dock Portsmouth Football Club 10 points when they come out of administration, although the Pompey Supporters' Trust, who are currently in the process of a takeover bid, have revealed that the decision was always expected. read more

Sports Revolution secures new funding - 05 Dec 2012

International fund management business, Sustainable Technology Investments Ltd, has acquired a minority stake in the sports media and marketing group, Sports Revolution, to help fund sports stadia infrastructure projects. read more

UEFA in Champions League talks - 29 Nov 2012

Michael Platini, the UEFA president, has announced that Europe’s football governing body is in the process of discussing the future of the Europa League, which could be scrapped in favour of an expanded Champions League.  read more

GFH Capital Limited buy Leeds United - 22 Nov 2012

Championship team Leeds United have been taken over by a Middle East-based private equity group, GFH Capital Limited. The firm is now in a one month transitional period and will become 100% shareholder once the takeover has been approved by the Football League which is expected to be a formality.  read more

Pompey Supporters’ Trust sign deal - 16 Nov 2012

The Pompey Supporters’ trust is one step closer to taking over Portsmouth FC before Christmas, after signing a conditional agreement with PFK, the club’s administrators.  read more

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