Finance News Articles

Jockey Club reveals strong finances - 09 May 2012

The Jockey Club, the largest commercial group in British horseracing, has reported double-digit growth in underlying turnover and operating profits for 2011, allowing the Group to increase its investment into horse racing - including a record contribution to prize money of £16.4m. read more

McIlroy & Hodgson joins rich list - 04 May 2012

Rory McIlroy, the 23-year-old Northern Ireland golfer who won the 2011 US Open, has already amassed a fortune worth £11m, according to the third annual Sunday Times Sport Rich List. read more

Liverpool reveals £50m loss - 04 May 2012

Liverpool FC has reported a loss of nearly £50m for the last financial year, with the financial implications of a failed stadium plan and former manager Roy Hodgson’s compensation package revealed.  read more

League leaders move to third in pay league - 02 May 2012

Barcelona and Real Madrid remain the best paid teams in global sport but new Premier League leaders Manchester City have jumped into the top three and are closing the gap, with the top four clubs are all from football, according to the Global Sports Salaries Survey 2012.  read more

Olympic football tickets go on sale - 30 Apr 2012

1.4 million tickets for the Olympic football competition go back on sale on Monday morning at 11am on a first come, first served basis, with seats still available for all but five games. read more

Football League to implement own FFP - 26 Apr 2012

The Football League is set to introduce its own Financial Fair Play regulations across all three divisions, after Championship clubs voted in favour of a breakeven approach based on UEFA's Financial Fair Play regulations. read more

Chelsea guaranteed record Euro TV money - 26 Apr 2012

Chelsea Football Club has guaranteed themselves the largest-ever TV money windfall from the Champions League after beating Barcelona on Tuesday night to make the final in Munich. The club will earn at least £45m - with a further £2.8m to come if they win the trophy - from UEFA's payments of Television money alone. read more

Wimbledon boosts prize fund for 2012 - 25 Apr 2012

Prize money for this year’s Wimbledon tournament is set to swell by 10% this year, the largest increase since 1993, with the majority directed to help lower-ranked players. read more

Brian Kennedy ups offer for Rangers - 19 Apr 2012

Sale Sharks owner Brian Kennedy has made an improved offer for Scottish Premier League giants Rangers and says he is waiting to hear from the Ibrox club's administrators. read more

UK Sport announces Team 2012 funding - 18 Apr 2012

UK Sport, the nation’s high performance sports agency, has announced a £750,000 cash injection, funded by the Team 2012 presented by Visa programme, to be invested in the final 100 days of Olympic preparation and 133 of Paralympic preparation, and boost Britain’s medal hopes for London 2012. read more

Premiership tops Euro kit league - 17 Apr 2012

The combined value of English Premier League kit deals has hit €109.7m (£90.4m) this season, making it the most lucrative market in European football in that area. read more

Pompey report reveals £58m debt - 12 Apr 2012

A report published by administrators PKF has revealed that struggling Championship football side Portsmouth owe £58m in outstanding debts - £20m more than when the club came out of administration in October 2010. read more

Four bids submitted for Rangers FC - 05 Apr 2012

Duff & Phelps, the administrators of Rangers Football Club, have revealed that four best and final bids for the club were made by its 5pm Wednesday deadline. read more

Sport England reduces LTA funding - 04 Apr 2012

Sport England has announced six-figure cuts to the Lawn Tennis Association budget, following disappointing participation figures, while the British Judo Association has also been hit. read more

SportsAid announces young athlete support - 04 Apr 2012

UK charity SportsAid has confirmed funding for 1,432 of Britain’s best young athletes in 2012, with around 500 more expected to receive SportsAid Awards as the year progresses and additional sponsors are secured. read more

Survey finds clubs in 'poor financial health' - 03 Apr 2012

A survey by administrators Begbies Traynor has reported that one in five Football League clubs are in 'poor financial health', with 13 of 68 teams surveyed across the Championship, League One and League Two reporting problems including winding-up petitions and late filings of accounts. read more

Rangers fans cough up as Hearts pay players - 30 Mar 2012

The ongoing financial struggles in the Scottish Premier League (SPL) have seen Rangers fans step in to pay £22,000 owed to Dunfermline by the Ibrox club for ticket sales, while Hearts this week paid players their latest round of delayed wages. read more

Struggling Bulls inundated with support - 28 Mar 2012

The Bradford Bulls have been 'inundated' with pledges of cash support after revealing they need £1 million to stay in business. read more

Everton look to cut costs with Optimum - 27 Mar 2012

Everton have signed a new partnership designed to reduce costs and improve efficiency, agreeing a deal with Optimum Procurement that will run to the end of 2015. read more

Touring cricket fans hit by price rise - 26 Mar 2012

England fans following the Test team in Sri Lanka have been forced to buy tickets for the opening game in Galle at ten times the price of the recent Australia series. read more

Rugby World Cup reaps its reward - 22 Mar 2012

The International Rugby Board has revealed that last year's Rugby World Cup in New Zealand is set to be the second most commercially successful edition of all time. In a statement issued from its Dublin headquarters, the IRB said the tournament was on course to achieve a net surplus of more than £90m. read more

Epsom reveals prize money increase - 21 Mar 2012

Epsom Downs Racecourse has announced an increase in prize money for the Investec Oaks, Diamond Jubilee Coronation Cup (sponsored by Investec) and Investec Derby Trial, with the classic trial being further bolstered by a wild-card into the Investec Derby.   read more

Adidas strengthens golf portfolio - 19 Mar 2012

Adidas and Adams Golf have announced that TaylorMade-adidas Golf has entered into a definitive agreement to acquire all the outstanding shares of Adams Golf for $10.80 per share in cash - more than R500 million overall.  read more

JMI creates new consulting division - 14 Mar 2012

Just Marketing International (JMI) has formed a new strategy and consulting division as it aims to cater to growing demand for such services from its motorsport client-base. read more

England win ICC pay-out after Proteas draw - 12 Mar 2012

England will claim the ICC bonus of £111,666 as the world number one Test team, after weather intervened in South Africa’s bid, with rain halting the charge in the first test in New Zealand. read more

Magpies close in on break even point - 09 Mar 2012

Newcastle United FC has revealed the club came close to breaking even for the financial year ending 30th June 2011, after announcing an operational loss of £3.9m. read more

Interpublic acquires Frukt Communications - 09 Mar 2012

Interpublic Group of Companies, Inc. has acquired London-based strategic and creative music and entertainment agencies Frukt Communications to work with its sports and entertainment agency, Octagon. read more

Administrators hope for quick Rangers sale - 08 Mar 2012

Administrators at Rangers Football Club have delayed a decision on player redundancies until Friday while it attempts to speed up the sale of the Scottish champions, following another day of failed negotiations with playing staff to agree cuts. read more

McKenzie Clark joins Chime Communications - 08 Mar 2012

McKenzie Clark has been acquired by Chime Communications PLC, and will become part of their sports marketing division working in conjunction with event branding and production specialist Icon. read more

Adidas reveals 2011 financial results - 07 Mar 2012

Adidas has released its full year financial results for 2011, revealing a Group revenue increase of 13% on a currency-neutral basis, as a result of double-digit sales increases in Wholesale, Retail and Other Businesses at the sports brand.  read more

UK Sport invests in Ski & Snowboard team - 05 Mar 2012

UK Sport has announced an award of up to £348,450 to British Ski and Snowboard to be invested in their athletes’ preparations for the Sochi 2014 Olympic Games.  read more

Ex owner gets Pompey parachute payments - 02 Mar 2012

The next four Premier League parachute payments for Portsmouth FC will go straight to former owner Sacha Gaydamak, according to Portsmouth administrator Trevor Birch. read more

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