Finance

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Spurs announces record revenue

Premier League side Tottenham Hotspur has revealed record revenues for the financial year up to 30th June 2016.

The results come off the back of the club’s best ever finish in the Premier League. The North London club saw revenues jump to £209.8m last season, up by 7% from the £196.4m in 2015.

The Club reached the round of 16 of the UEFA Europa League resulting in gate receipts and prize money of £18.7m and a jump in TV and media revenues to £94.8m helped the club secure the record revenues. The club’s pretax profit was also up to £33m from £9.4m the previous year.

Miller & Sported agree insurance partnership

Miller Insurance Services LLP has partnered with Sported, a charity and membership organisation supporting over 3,000 community sport clubs and youth groups across the UK.

Miller will provide interested Sported members with access to competitive and bespoke insurance policies, in addition to advice and recommendations from the team of sport insurance experts.

This service has been set up with the needs of Sported members in mind in order to make exploring coverage options as easy and hassle free as possible.

EVERTON & FULHAM SIGN WITH SPORTSRISQ

SportsRISQ, the London-based company that provides structured finance products to the sports sector, has signed Premier League club Everton and English Championship side Fulham to its new platform, the RISQ Performance Dashboard.

The RISQ Performance Dashboard is a new business intelligence tool designed for football club executives. It enables users to track, analyse and control the increasing financial impact of performance by combining the club’s contractual, commercial and financial data with RISQ predictive analytics.

World ParaAthletics Champs launches group offer

Sports and community groups are being invited by London 2017 organisers to experience the World Para Athletics Championships this summer after launching a new offer for group bookings.

In July, the London Stadium at the Queen Elizabeth Olympic Park will see some of the biggest names return to the track for the World Para Athletics Championships, from 14th to 23rd July.

Stars already confirmed include the likes of Jonnie Peacock, Hannah Cockroft, Kadeena Cox and Richard Whitehead - returning to the stadium where many of them won gold medals at London 2012.

Ski Club acquires Mountain Tracks

The Ski Club has announced it has acquired specialist mountain adventure company Mountain Tracks.

The two companies will continue to operate under their respective brand names. The Ski Club has run a holiday programme since the 1970s, featuring skiing weeks and weekends providing group holidays matching skiers of a similar ability.

Radrizzani scores 50% Leeds United stake

Leeds United owner Massimo Cellino has confirmed he has sold 50% of his stake in the English Football League (EFL) to Andrea Radrizzani.

Radrizzani is co-founder of global sports media agency MP & Silva and purchased the stake through Aser Group Holding, through its acquisition vehicle Greenfield Investment.

Cellino will still maintain a 50% share despite an impending 18 month ban given by The Football Association (FA) in December, relating to a payment of £185,000 made to an unlicensed agent during the sale of striker Ross McCormack in 2014.

Chelsea nets loss despite record turnover

Premier League leaders Chelsea FC has reported a net loss of £70.6m for the 2015-16 financial year, despite posting record turnover, largely due to the decision to buy out the existing kit deal with adidas and the compensation paid to José Mourinho following his sacking last December.

Total sales of £329.1m represented a 5% rise on £314.3m the previous year, but an overall profit of £4.7m was swallowed up by the "exceptional costs".

5 sports lose funding for Tokyo 2020

Badminton is one of five sports to lose all its UK Sport funding for the Tokyo 2020 Olympic and Paralympic Games, with a total of £345m to be invested in 31 Olympic and Paralympic sports.

The total - £2m less than the record £347m allocated for the Rio Games – also see archery, fencing, weightlifting and wheelchair rugby miss out completely.

UK Sport has set Team GB a target of winning 51-85 Olympic medals, and 115-162 Paralympic medals in Tokyo. Team GB claimed 67 Olympic medals and 147 Paralympics medals at Rio 2016.

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