Lord Stevens, the man leading the investigation into alleged illegal payments in
FA Premier League transfers, has named seventeen transfers involving five clubs
as having breached regulations.
The five clubs found to have been in breach of the league’s rules on transfer
payments are Chelsea, Newcastle, Bolton, Portsmouth and Middlesbrough.
The Football Association will now decide how to move forward in terms of
punishment for these clubs although it is thought that Newcastle and Bolton are
viewed as the most serious offenders.
Newly promoted FA Premier League club Birmingham City has announced that it has
been approached about a potential takeover bid.
The club informed the Stock Exchange that discussions had begun regarding a
buyout although the identity of the bidder remains under wraps due to the
regulations of the Stock Exchange.
A statement from the club read: ‘Such discussions are at a very preliminary
stage. The directors note that there is no certainty that a transaction will
result from the approach.’
David Whelan, chairman of FA Premier League club Wigan Athletic, has
controversially sold his remaining 29% holding stake in JJB Sports – the sports
retail chain he founded 36 years ago.
The 70-year old Whelan, who sold his stakeholding to Icelandic financial
group Exista and sports retailer Chris Ronnie for £190m, has come in for
criticism over the move given he had promised the London Stock Exchange in
January that he would not sell up for at least another 12 months.
Entrepreneur and TV celebrity Sir Alan Sugar has sold his remaining stake in FA
Premier League club Tottenham Hotspur to majority shareholder ENIC
The remaining 12% stake owned by Sir Alan Sugar, who had the majority
stakeholding in Spurs and was club chairman for a decade until 2001, has been
sold to ENIC for £25m.
ENIC, whose managing director Daniel Levy is the club chairman, has now
increased its stakeholding from 54% to 66%.
Newcastle United chairman Freddy Shepherd has agreed to sell his shareholding to Mike Ashley – a move that is set to see the sports retail billionaire take control of the club.
Ashley will pay £37.6m for Shepherd’s 28% stake which, following on from the businessman’s purchase of 41.6% of the club from Sir John Hall’s family last month, means that Ashley now owns close to 70% of Newcastle United.
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’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
The latest report, which monitors revenues across the top flight for the
2005/06 season, saw wages rise 9% to £854m.
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
According to a new report, the economic impact of hosting the America’s Cup
sailing event could reach as high as $10bn for the winners of the 32nd edition
of the competition.
With the winners of the America’s Cup also handed the right to host the next
edition of the race, the economic benefit of being a host has risen to record
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.
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