Finance

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Sky Bet invests £1m in EFL responsible gambling campaign

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.”

Agag makes €600m bid for Formula E ownership

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."

Dugout announces £8.275m investment

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. 

Jockey Club reports record revenue

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.

ROSBERG CONFIRMS FORMULA E INVESTMENT

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.

Saracens announces new commercial joint venture

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. 

Aston Villa unveils integrated season ticket payment cards

Aston Villa Football Club has integrated pre-paid contactless and chip and pin payment technology into its season and member cards.

The new technology will enable fans to use their Aston Villa season/member cards in the same way as any pre-paid payment card, including contactless payments up to £30, with fans earning ‘Pride Rewards’ points at a ratio of one point for every pound spent.

Chelsea announces record revenues

Reigning Premier League champions Chelsea FC has announced record turnover of £361.3m for the year ending 30th June 2017, which resulted in a profit for the year of £15.3m.

The turnover figure grew from £329.1m the previous year, a 9.8% increase. As part of the announcement, the Premier League side noted that broadcasting revenues increased as a result of winning the Premier League title, as well as commencement of the latest Premier League’s contracts with broadcasters.

Barnsley FC takeover confirmed

Barnsley FC has been taken over by a consortium headed by Chinese businessman Chien Lee and is led by investors Paul Conway and Grace Hung.

Other investors include former Major Leage Baseball player, Billy Beane, who also owns a minority stake in the Oakland Athletics and inspired the Hollywood film, Moneyball, as well as tech entrepreneur Neerav Parekh.

The takeover ends Patrick Cryne’s 13-year spell as owner of the club. Cryne has terminal cancer and wrote a letter in September telling fans he was “living on borrowed time”.

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