Finance

Show within Informer: 

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.

SILVERSTONE OWNERS TRIGGER F1 BREAK CLAUSE

British Racing Drviers’ Club (BRDC), the owner of Silverstone, has triggered a break clause in the British Grand Prix contract, giving notice to leave its current deal in the next two years and leaving the future of the British Grand Prix uncertain. 

Silverstone signed a 17-year contract with former Formula 1 boss Bernie Ecclestone in 2009, paying £12m for the race in 2010 with a 5% annual escalator, and a break clause after 2019.

IRONMAN Acquires Competitor Group

IRONMAN has announced the acquisition of the Competitor Group Holdings (CGI), owner of Rock ‘n’ Roll Marathon, extending IRONMAN’s portfolio.

Since the first Rock ‘n’ Roll Marathon in 1998, CGI has expanded to host events across 22 major markets in the US and eight international races from the UK to China with more than 30 world-class events including the Rock 'n' Roll Marathon Series

Radrizzani completes Leeds takeover

Andrea Radrizzani has completed his takeover of Leeds United, following his purchase of 50% of the club in January.

The Italian businessman has now purchased the final 50% stake in the Championship club and ends Massimo Cellino’s three-year spell as the club’s owner.

Radrizzani will take Cellino’s role as chairman and, according to reports, he is looking to extend Garry Monk’s managerial contract with the club.

ICC increases Champions Trophy prize money

The International Cricket Council (ICC) has announced an increase in prize money for the 2017 Champions Trophy one-day international, which is to be hosted in England and Wales in June.

The prize money has increased by $500,000 and will now carry a total prize purse of $4.5m with the winner of the eight-team tournament taking home $2.2m. The runner-up of the tournament will receive $1.1m, with the other two semi-finalists receiving $90,000 each – all teams finishing last in each group will get $60,000.

The Jockey Club announces record annual results

The Jockey Club, which stages several events in British sport, such as the Randox Health Grand National, The Cheltenham Festival and The Investec Derby, has announced a record set of annual results, including the amount it put back into British Racing through prize money.

The Jockey Club delivered its eighth successive year of turnover growth to a record £191.5m in 2016, up by 4.5% year-on-year [2015: £183.3m].

Bath Rugby announces improved financial results

Bath Rugby has reported increased turnover and a 33% reduction in net loss for the 2015/16 financial year, as the club moves closer to its goal of becoming self-sustainable. 

The results for the year ending 30th June 2016 show a 15% growth in turnover to £16.9m (2015: £14.6m), and a 33% reduction in net loss for the financial year to £1.2m (2015: £1.8m), despite significant investment primarily in the playing squad.

Financial performance will improve again in the year to 30th June 2017, supporting continued investment particularly in the rugby department.

Pages

Subscribe to RSS - Finance