Finance News Articles

Jockey Club achieves bond target - 17 May 2013

The Jockey Club has announced today that it has achieved the £15 million target for its Racecourse Bond in just over three weeks. As a result of continued demand The Jockey Club - which owns racecourses including Aintree, Cheltenham, Epsom Downs and Newmarket as the largest commercial group in British horseracing - has extended the application w… read more

ECB securing over $500m broadcast rights - 16 May 2013

As England begin their summer of cricket today at Lords, commercial director of the England & Wales Cricket Board, John Perera, gives an insight into the significant boost of broadcast revenue into the governing body’s revenue – and the ongoing impact of the growing Indian marketplace. read more

The Jockey Club Bond attracts investment - 10 May 2013

The Jockey Club, the largest commercial group in British horseracing, has announced it has already received applications for more than half the ambitious £15m target it set for its Racecourse Bond offer and urged potential investors to make their applications before the cash and racing rewards offer closes on Friday 17th May 2013. read more

Badminton England gets London GP backing - 30 Apr 2013

Badminton England has announced a new partnership with Gullivers Sports Travel for the upcoming London Grand Prix, taking place at the Copper Box on Queen Elizabeth Olympic Park from 1st to 6th October 2013, while plans for a relocation and expansion of the sport’s National Badminton Centre have also been approved.  read more

The Jockey Club posts record results - 24 Apr 2013

The Jockey Club, the largest commercial group in Britain's second biggest spectator sport, has announced its best set of financial results ever – including record turnover (£150.3m), operating profits (£19.8m) and contribution to prize money (£16.5m) – and used them as the springboard to launch the first ever retail bond in British sport, 'The J… read more

Racing shareholders benefit from 2012 success - 22 Apr 2013

Racecourse Media Group, which manages the media rights for 33 racecourses in the UK, has announced that record licence fees of £46 million for 2012 had been distributed to its racecourse shareholders. read more

Goodwood confirms prize money increase - 16 Apr 2013

With the start of the new season less than three weeks away, Goodwood Racecourse has announced a prize money boost of 12% - increasing the total purse to over £3.6 million across 19 race days – including five days of Glorious Goodwood. read more

Financial Fair Play set for Premier League - 12 Apr 2013

The Premier League has ratified the agreement over Financial Fair Play regulations, according to media reports, with new rules set to cap wages and limit losses coming into effect from next season ahead of UEFA's new regulations. read more

Betfair completes Blue Square takeover - 04 Apr 2013

Betfair has completed a £5 million takeover of online bookmaker Blue Square, effectively ending the company's six-year sponsorship of the Football Conference, leaving both the Football League and the Football Conference without a headline sponsor for the 2013/14 season. read more

Motorsport agency JMI put up for sale - 02 Apr 2013

Motorsports agency Just Marketing International (JMI) has been put up for sale after majority shareholder Spire Capital Partners announced its intention to sell its 60% stake. read more

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

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