McLaren Formula One team has received a new backer after it was confirmed that
Mumtalakat Holding Company – a Middle East investment firm wholly owned by the
Kingdom of Bahrain – had agreed a deal to buy a 30% stake in the team.
Should the stakeholding by finalised, McLaren’s parent company
DaimlerChrysler will still own 40% but the holdings of team boss Ron Dennis and
TAG will be reduced to 15% each.
A statement from McLaren confirmed that the change in ownership would not
affect the existing management team.
Officials from Lord Stevens’ inquiry into football transfer corruption will today hand over to the FA the names of the eight agents who refused to take part in the investigation.
While the representatives of Stevens’ Quest organisation will reveal the agents’ names, the identity of those Premier League clubs which breached transfer rules will not be revealed.
It is the first meeting between the FA and Quest since Lord Stevens last month published the findings of his inquiry into illegal payments.
Despite having just led his team to a 5-0 whitewash defeat in the Ashes,
England’s acting cricket captain Andrew Flintoff has filed earnings of more than
£1m in Companies House through his firm Freddie Flintoff Enterprises.
Freddie Flintoff Enterprises filed accounts at Companies House showing that
it had £914,870 either at the bank or owed to it and another £110,828 invested.
Flintoff has sponsorship deals with a number of brands such as Volkswagen,
Red Bull and Barclays Capital, in addition to the £300,000 a year that he is
paid as a county and England player.
The St. James’ Park Group consortium, backed by US hedge fund Polygon, has
stated it has ended talks regarding a takeover bid for Premier League club
The group, which is one of a number of parties in takeover talks with
Newcastle, issued a statement that it has no current intentions regarding a
buyout although it reserved the right to make an offer or possible offer if
Struggling Premier League club Charlton Athletic reported an operating loss
of £4.6m in its latest annual financial report principally due to increased
The £4.6m loss for the 12 months to the end of June 2006 was a substantial
downturn from the £4.7 operating profit the club recorded in 2005.
The loss of Charlton’s shirt sponsorship deal with now defunct sports
retailer all:sports also had a significant impact on the club’s bottom line.
In a New Year’s message, London 2012 Olympic organisers have stated their
intention to resolve the fears over the escalating budget for the Games early in
London 2012 chairman Sebastian Coe and Olympic Delivery Authority chairman
Roy McNulty, issued a joint statement indicating that the issues of budgets and
funding would be resolved in the very near future.
Dubai International Capital, the investment firm bidding to takeover Liverpool
F.C., is planning to sell the FA Premier League club for an immense profit by
2014 according to a document leaked to the media.
According to the document, intended for circulation among possible investors
into the DIC consortium, the takeover is meant as a short-term acquisition and
sale process as opposed to any lengthy relationship.
A last-minute takeover deal to secure the future of Coca-Cola Championship team
Cardiff City FC has been signed although the identity of the investors remains
There were fears that the club could have been put into administration if a
deal was not done by the end of this week to sell former chairman Sam Hammam's
The £27m buyout of Hammam's majority shareholding is set to clear the
Bluebirds' debts and leave the club with a budget to strengthen the team, which
has undergone a slump in form after weeks at the top of the Championship.
Newcastle United have confirmed that a consortium backed by American group
Polygon are one of the parties that have approached the board about a possible
offer for the club.
Newcastle United chairman Freddy Shepherd revealed that the Polygon-backed St
James' Park Group Limited have made an approach and requested access to the
Shephard however insisted that the club board ‘have not accepted any
proposals for the company from any party’.
Lord Stevens’ report into illegal payments in Premiership football has been
revealed with 17 of the total 362 transfers investigated requiring further
analysis for wrongdoing.
The Premier League, through Lord Stevens, will now review the 17 outstanding
transfers, which have not been named, to find out the exact nature of the
illegalities although the league’s chief executive Richard Scudamore said that
the investigation had not been helped by a ‘small but significant number of
agents’ who would not co-operate.
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