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Ashes give Australia major economic boost

Despite the one-sided nature of last winter’s Ashes tour, the visit of the England cricket team provided a £133m boost to the Australian economy according to a report commissioned by Cricket Australia.

According to the Economic Impact Study, more than 813,000 tickets were sold for the Tests and one-day matches, and 37,000 overseas tourists visited Australia during the series. The tourism boost also led to the creation of 793 jobs.

The study also showed that each tourist stayed for around 30 days and spent almost £4,400. 

Deloitte: FAPL wages to top £1bn next season

Deloitte’s annual review of football finances has predicted that wages in the FA Premier League will total more than £1bn for the first time next season.

The report revealed that salaries and bonuses would increase next season in line with the FA Premier League’s new £1.7bn TV rights contract which begins in August.

The latest report, which monitors revenues across the top flight for the 2005/06 season, saw wages rise 9% to £854m.

Ashley unveils Newcastle takeover bid

Mike Ashley, the billionaire owner of the Sports Direct retail group, has unveiled a £133.1m offer to takeover FA Premier League club Newcastle United.

Ashley, who floated his company earlier his year pocketing more than £900m in the process, has already bought a 41.6% stake in the club from majority stakeholder Sir John Hall for more than £55m.

Under stock exchange rules, Ashley's company now has to make a cash offer for the remaining shares – including a stake of around 29.8% belonging to chairman Freddy Shepherd.

FIFA monitoring West Ham row

FIFA are to wade in to the row between the Premier League clubs, the league and West Ham over the registration of Carlos Tevez.

The world governing body president Sepp Blatter has stated that he is ‘monitoring the situation very carefully’ and will intervene should it prove that the league has been too lenient.

West Ham were fined £5.5m for irregularities over the signing of Carlos Tevez and Javier Mascherano but they escaped a points deduction.

However FIFA has said that it is not re-examining the evidence with the aim of testing the Premier League's ruling. 

Mayweather win confirmed as richest fight ever

Floyd Mayweather’s victory over rival boxer Oscar de la Hoya at the weekend lived up to its hype grossing £60m, making it the richest fight in boxing history.

The super welterweight bout, staged in Las Vegas, beat the previous biggest bounty of £56m from the 2002 fight between Mike Tyson and Lennox Lewis.

Despite losing, it is believed that De La Hoya earned £22.5m from the fight while his conqueror Mayweather pocketed an estimated £20m.

The fight also attracted a record number of pay-per-view purchases with 2.15m people buying into the TV coverage.

Adidas buoyed despite fall in income

Adidas’ net income dropped to €128m in its latest set of financial figures but the sport goods giant is ahead of market predictions as it looks to build up its recently acquired Reebok brand.

With the company’s net income fell 11% from a year earlier - where its figures were inflated due to the impending football World Cup - sales increased by 3% to €2.54bn with Reebok making its first market gain since it was acquired by Adidas in 2005.

Wigan's Whelan threatens FAPL legal action

The FA Premier League is facing a major backlash over its decision to fine West Ham £5.5m for fielding ineligible players after Wigan chairman Dave Whelan threatened to sue over what he views to be a lightweight punishment.

Following on the legal threat implicated by former West Ham chief executive Paul Aldridge who believes his professional reputation was ‘besmirched’ by the decision, Wigan’s Whelan is adamant that the league should have docked West Ham points and issued a more sizeable fine.

Premiership promotion worth £60m

A Deloitte report has put the cash windfall from promotion to the FA Premier League at £60m each for the three successful clubs coming into football’s top flight.

The report states that the three promoted teams for the 2007/08 season, which already include Birmingham and Sunderland, are guaranteed a minimum of £35m in extra revenue from the money the Premiership derives from TV and sponsorship income.

Even if relegated after only one season, the teams will also be guaranteed an additional £20m in parachute payments.

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