US firm Liberty Media Corporation has confirmed it will purchase Formula One for $4.4bn (£3.3bn).
The deal, which ends years of speculation about the ownership of the company, will see Bernie Ecclestone remain as chief executive but Chase Carey, vice-chairman of 21st Century Fox, will become the new chairman.
Liberty will initially purchase a minority stake in the global motor-racing championship, with a full takeover planned if regulators approve the deal.
The Sport Industry NextGen Leaders continued their Leadership Package for 2016 by visiting Barclays’ global headquarters in London’s Canary Wharf to learn more about the daily workings and challenges of a global banking and financial services company.
Topics of discussion throughout the day included citizenship; diversity and inclusion in business; retail; marketing at Barclaycard and career development.
Jockey Club Racecourses North West has announced a £20,000 development award for female jockeys.
The award will be presented to a female jockey who rides a winner at Carlisle’s #AmazingMonday fixture on Monday 1st August and then goes on to win the Betfred Haydock Park Ladies’ Trophy Handicap Stakes at Haydock Park on Saturday 6th August.
The £20,000 prize is designed to provide an opportunity for personal development to support requirements for female jockeys, which could take the form of extra tuition or course fees, and will be dictated by the winning jockey.
A group headed by WME-IMG agency has agreed a deal with the Ultimate Fighting Championship (UFC) for around $4bn, according to president of the brand Dana White.
The sale of the mixed martial arts series has been reported in news outlets for a number of months, with White - who had 9% of the company - confirming the deal to the Associated Press news agency. It’s also reported that he will stay on to run the series, but have a smaller ownership stake.
Private investment firm Bruin Sports Capital has completed the acquisition of sports media company Deltatre.
As part of the deal co-founders Luca Marini and Gaimpiero Rinaudo will retain a minority investment in the company and Rinaudo will also retain his role as chief executive.
Premier League football club Swansea City has confirmed a takeover by US businessmen Jason Levien and Steve Kaplan.
The deal is subject to Premier League approval and financial terms were not disclosed, but media reports suggest the pair have acquired a 60-70% controlling interest for £100m.
Currently, Kaplan is the vice chairman of NBA franchise Memphis Grizzlies and Levien, a former chief executive at the Grizzlies, is now managing general partner at Major League Soccer side DC United.
The 2015 Rugby World Cup, hosted by England, has been announced as the most financially successful to date, according to an economic report by EY.
FC Barcelona has extended its partnership with Nike in a deal that is reportedly worth a record total of £120m per season.
The extended agreement will run for the next ten years and is a major change to its current deal which is worth around $37m a year.
Nike’s extended deal with Barcelona surpasses Manchester United’s £75m per season contract, which was the most lucrative kit-sponsorship in the world.
However, according to Barcelona, the details of the contract would only be announced at the club’s next general assembly.
Leicester City FC’s Premier League title win has seen the club double its global exports, according to DHL.
DHL, the team’s official logistics partner, has already exported merchandise to 66 countries since the 5000/1 outsiders claimed the Barclays Premier League trophy, more than double those exported to at the start of the season.
So far Japan has seen the biggest growth, where revenue has increased by more than 30 times, with revenue from Italy - the country of manager Claudio Ranieri - 13 times greater than it was at the start of the season.
Chelsea Football Club and adidas AG has announced that they have mutually agreed to terminate their existing partnership agreement six years early, with the deal now set to expire at the end of next season, not 2023 as originally agreed.
adidas has been sponsor and sportswear supplier for Chelsea since 2006 and this early termination of the agreement will allow Chelsea to enter a new equipment agreement with a competitor of adidas AG.
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