English Football League club (EFL) Aston Villa has announced that it is to receive a “significant cash injection” from NSWE, a company that is jointly owned by billionaire businessmen Nassef Sawiris and Wes Edens.
It follows club owner Dr Tony Xia’s decision to embrace a co-ownership model. Xia will become Villa co-chairman under the new deal.
In a statement, the Championship club confirmed that the capital injection and transaction had been approved by the EFL.
Sport Industry Group catches up with James Hands, head of accident & health and sport & entertainment at Miller Insurance Services LLP to discuss emerging risks for the sport industry…
Firstly, where does sport and entertainment sit within the wider Miller Insurance offering?
UEFA has announced major increases in prize money for its club competitions, with historically successful teams also set to benefit under the new system.
The latest plans will see more weight placed on prior performance rather than the strength of individual national television market pools.
The gross commercial revenues for clubs competing in the UEFA Champions League, the Europa League, and the Super Cup, is estimated at around €3.31bn.
UK-based betting technology company, Sportech, has teamed up with sports data and integrity firm Sportradar, following last month’s US Supreme Court ruling on the legalisation of sports gambling.
Sportech finalised the deal with Sportradar in the wake of last month’s US Supreme Court ruling, which overturned 1992 legislation banning sports betting in most states.
Leeds based online gambling operator Sky Bet launched a new responsible gambling campaign ahead of the weekend’s EFL play-off finals, designed to educate players and staff from the 72 EFL clubs about gambling related harm.
All players that took part across the Championship, League One and League Two play-off finals at Wembley Stadium over the May bank holiday weekend sported new sleeve badges bearing the slogan “When the fun stops. Stop.”
Founder and chief executive of Formula E, Alejandro Agag, has made a €600m offer to take full ownership of the all-electric racing series.
In a letter sent to the board of directors, seen by news outlet, Autosport, Agag said: "As an entrepreneur I would like to increase my interest in the business and influence in its future direction. I strongly believe in the future of Formula E and this offer is an expression of that confidence.
"For this reason I would like to make a proposal to buy all the shares in the company at a value of €600m equity value."
Digital football business, Dugout, has revealed details of new investment that will see the company expand its existing operations, as well as partnership plans to enhance its technology offering and support growth in the MENA region.
Dugout has announced an additional £8.275m investment led by US entrepreneurs David and Frank McCourt, alongside a number of other strategic smaller-scale investors. The £8.275m investment reflects the growth of the business and its expanding network of partners across football, business, media, technology and brand advertising.
The Jockey Club, the largest commercial group in British horseracing, has unveiled a record set of financial results, including breaking through the £200m (€228.2m/$279.2m) revenue barrier for the first time.
The Jockey Club, which is governed by Royal Charter to act for the long-term good of British racing, reported revenues of £201.1m for 2017, up 5.2% on 2016, driven by gains general admissions, media, hospitality and commercial partnerships.
Nico Rosberg will treat fans of the ABB FIA Formula E Championship at the Berlin E-Prix to the first public demonstration of the Gen2 car, getting behind the wheel of the new model for next season - as well as disclosing his long-term commitment to the series as an investor.
The German driver is set to make a one-off appearance ahead of the race at Tempelhof Airport on 19th May to drive the next generation Formula E car, which hit the headlines at the Geneva Motor Show last month and is scheduled to make its competitive debut in season five.
Aviva Premiership side, Saracens, has announced a new commercial structure to its business that will see the formation of a joint venture with Premier Team Promotions (PTP) which will take on responsibility for all commercial aspects of the club.
PTP, led by chairperson Lucy Wray, has recently taken on former European Tour and Ryder Cup head of marketing Tim Hunt as group CEO and the new joint venture with Saracens adds to a portfolio of businesses in the group that includes the likes of MBN Events and The UK Investor Show.
The Sport Industry Daily
Sign up today for the latest news in one daily email, plus occasional event updates, direct to your inbox.