Finance

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Draftkings & Fanduel agree merger

Daily fantasy sports companies, Draftkings and FanDuel, have agreed a merger followingĀ the companiesā€™ $12m settlement over false advertising claims with the New York attorney general last month.

The merger, although agreed, must be approved by regulators and both companies have stated they expect the deal to close in the second half of 2017, operatingĀ under individual brands until then.

ASICS Europe announces sales increase

ASICS has announced growth across the EMEA region between January and September 2016, with the sport performance brand delivering an overall 4% increase in net sales to ā‚¬695m.

ASICS stated that the sales increase was largely driven by strong growth in running, ASICSā€™ key category, with running footwear increasing by 6% and apparel by 3%.

Another key contributor is the brandā€™s lifestyle category, ASICS Tiger, which grew 54%, compared with the first three quarters of 2015. Sales in ASICSā€™ own retail outlets grew by 16%.

Alisports invests with World Rugby in China

Alibaba is set to invest Ā£82m ($100m) into Chinese rugby over the next ten years in a joint initiative with World Rugby to grow the game in the country.

Alisports -Ā the sport arm of e-commerce company, Alibaba -Ā will look to recruit 1 million new players into the sport within five years.

The investment will aid efforts to set up programmes in 10,000 schools and universities and train 30,000 coaches as well as launch the first professional leagues for men and women in China. In addition, a national sevens programme will also be set up.

Manchester City posts record profits

Premier League side Manchester City has announced it has almost doubled its profits to Ā£20.5m in 2015/16.

It marks the second year of profitability for the club, which had earnings of Ā£10.7m last year. In a statement, the club said it had generated record revenues of Ā£391.8m in the year up until 31st May, an increase on the previous yearā€™s figure of Ā£351.8m.

Tour de France organisers acquire Human Race

Amaury Sport Organisation (A.S.O), owner of Le Tour de France, and organiser of runs and sportives in Europe, such as the ParisĀ MarathonĀ andĀ Lā€™Etape du Tour, has completed the purchase ofĀ Human Race Events.

For the last 26 years, South West London based Human Race has been organising mass participation events, such as theĀ London Winter Run,Ā Windsor TriathlonĀ andĀ Dragon Ride Lā€™Etape Wales.

Team England secures 2018 funding

Sport England hasĀ awarded Commonwealth Games England (CGE) Ā£4m of National Lottery funding to support Team England for Australiaā€™s Gold Coast in 18 monthsā€™ time.

The funding, alongside the cash CGE raises from sponsors, will enable Team England to create the best possible performance environment for the athletes, coaches and support staff. This will include a preparation camp prior to the Games, and all the support services that athletes require.

UFC gets star investment

The Ultimate Fighting Championship (UFC) has announced that a number of high profile names from sport and entertainment have invested in the mixed martial arts series.

Investors from the world of sport include National Football League (NFL) players Cam Newton and Tom Brady and owner of New England Patriots Robert Kraft as well as tennis stars, Li Na, Maria Sharapova and Venus Williams.

76ers acquire two eSports teams

National Basketball Association (NBA) team,Ā Philadelphia 76ersā€™ ownership group has announcedĀ it has acquired two eSports teams, Team Apex and Team Dignitas.

The teams will be merged under the TeamĀ Dignitas banner and compete in League of Legends, Counter Strike: Global Offensive, Overwatch and Heroes of the Storm, with the 76ers handling the day-to-day operations including player recruitment, marketing and sales.

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