Finance

Show within Informer: 

UFC sold for $4bn to WME-IMG Group

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.

Swansea City confirms US takeover

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.

Barcelona seals record Nike deal

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.

Title win prompts global Leicester demand

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 ends adidas deal six years early

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.

West Brom signs record shirt sponsorship

Premier League side West Bromwich Albion has announced a record shirt sponsorship deal with K8 Group.

The two-year deal with the online casino company will run from 2016/17 to 2017/8 and reports suggest it is worth in excess of £5m over the course of the contract.

China-based K8 Group will use the sponsorship to help launch its European brand, UK-K8.com and will work with the club to create and distribute video content.

adidas seeks golf buyer

adidas has revealed it aims to sell the bulk of its golf business in order to focus on shoes and clothing, stating it would focus on retailing golf shoes and clothing under the adidas label. The move will see the brand seek to sell its TaylorMade, Adams and Ashworth brands. 

The announcement comes after its core adidas brand reported strong quarterly sales, particularly in the United States.

The Jockey Club posts record annual turnover

The Jockey Club has announced record turnover and an increase in profits on the back of record attendances last year, which comes in spite of making record reinvestments back into racing.

The owner of many of British horseracing’s assets, including the Grand National, the Cheltenham Festival, The Investec Derby and The National Stud, has put more than £415m back into horseracing over the last 10 years through contributions to prize money and upgrading facilities for customers and participants, according to its annual results.

Pages

Subscribe to RSS - Finance