Finance

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Jockey Club extends mini-bond

The Jockey Club has extended its mini-bond after five years, retaining 96% of original investors.

Investors in The Jockey Club's Racecourse Bond – which was the first 'mini bond' issued in British sport – have chosen to retain more than £23.6m (96%) in the financial product after they were offered the opportunity to rollover or extend their investment in the scheme.

Tweddle becomes Hardship Grants ambassador

Beth Tweddle has been announced by the British Gymnastics Foundation as the ambassador for their Hardship Grants programme.

The programme provides financial assistance to British Gymnastics members to help them continue participating in gymnastics when they are going through financial hardship.

Since April 2016, the Foundation has awarded over £29,000 of grants, benefitting 80 British Gymnastics Members.

Beth said: "Nobody deserves to miss out on the sport that they love because of a financial hardship or time of crisis in their lives!

Mike Ashley to sell Newcastle United

Newcastle United has been put up for sale by owner Mike Ashley, who reportedly hopes to conclude a deal by Christmas.

The Premier League side won promotion last season, but has been relegated twice during Ashley’s ten-year stint.

The 53-year-old took over in 2007, buying the club for £134.4m. The latest club accounts – up to June 2016 and before the club’s relegation – showed a profit of £900,000 and a £126m turnover in 2015/16.

Tifosy reaches £1m in equity raise

Tifosy, a fully licensed sports crowdfunding business, has successfully raised £1m equity through its own platform.

Co-founded by former player and manager Gianluca Vialli and former investment banker Fausto Zanetton, Tifosy allows supporters to invest in clubs.

More than 10,000 fans have already invested through the platform and Tifosy has worked with more than 15 clubs in England and Italy.

Bike Channel to close

Cycling broadcaster, the Bike Channel has ceased trading after failing to find a buyer, the company’s administrators confirmed in a statement.

Bike Channel UK was launched in December 2015, and was owned by London-based company Bike Media Limited. The channel will be removed from distribution on Sky, Virgin Media and Freesat. Six staff will lose their jobs and buyers are being sought for the broadcaster’s assets.

Day/night test hailed commercial success

Warwickshire County Cricket Club has revealed the level of commercial success for the first ever day/night Test in the UK, despite the match ending in less than three days. 

Edgbaston accommodated 70,000 spectators across the three days of play, recording sell-outs on the second and third day and, despite the shortened match, the venue’s retail catering sales were also the highest ever for a non-Ashes Test match.

DraftKings unveils $1bn challenge

DraftKings has welcomed the start of the 2017/18 NFL season with a 'Billion Dollar Line-up' challenge giving American football fans an opportunity to win $1bn.

DraftKings will calculate the perfect lineup by determining all possible valid lineup combinations given the NFL week one results under the normal salary cap and roster restrictions. The perfect line-up will be the highest possible scoring lineup. Entries will be limited to one per person, with a maximum number of total entries capped at five million.

Southampton FC sells 80% stake

Chinese businessman Jisheng Gao and his family have completed a deal to become the majority owner of Premier League side, Southampton.

Current owner Katharina Liebherr, who inherited the club from her late father in 2010 when the club was in League One, will retain a 20% stake in the club.

Reports suggest that Gao bought the stake for £200m, ending 12 months of talks between the Gao family and the club. The investment is being made personally by Gao and his daughter as opposed to being sanctioned through Lander Sports, as originally proposed.

Catapult acquires Athlete Management System

Catapult has announced an agreement to acquire the SportsMed Elite and Baseline athlete management system (AMS) products from Brisbane-based SMG Technologies (SMG) for $1.9m.

SportsMed Elite has an existing global user base of elite sporting clubs and associations. The modularised cloud-based platform acts as a store of team data and information, including player wellness metrics, injury and medical records, wearable data, and video.

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