McMahon group plans Newcastle bid June 9, 2009 SINGAPORE-based investment company the Profitable Group has emerged as a leading contender to buy Newcastle United from beleaguered owner Mike Ashley. The company, whose board includes former Liverpool and England midfielder Steve McMahon, is said to want to retain Alan Shearer as manager. The Profitable Group has previously been linked with buying the Magpies, who [...]
Setanta close to administration June 8, 2009 The board of Irish sports broadcaster Setanta met yesterday, a person familiar with the situation said, following media reports the group was close to going into administration. Sources close to the Premier League said that the people running English football’s top flight would be willing to see the broadcaster go under. The company, which could [...]
West Ham taken over by Icelandic banks as Gudmundsson era ends June 8, 2009 WEST HAM’S new owners CB Holding have reassured fans that manager Gianfranco Zola and assistant Steve Clarke are going nowhere. And the asset management company – made up of several Icelandic banks – insist Zola will be given money to spend this summer. CB Holding acquired the Premier League club yesterday in a takeover estimated [...]
Premiership and NBA hold talks June 7, 2009 Representatives from the Premier League and US basketball organiser the NBA have held talks in London to discuss a potential marketing and commercial link-up. The world’s two most popular sports leagues are understood to be identifying ways in which they can work together as they expand internationally. The NBA is keen to discuss the matter [...]
Deloitte on the touchline as Setanta heads for full-time June 7, 2009 STRUGGLING sports broadcaster Setanta could be forced to go into administration this week, as discussions with investors and rights holders have failed to secure a rescue deal. Accountancy firm Deloitte is on standby to flip the switch on the Irish broadcaster, which has been struggling for months to raise new capital to enable it to [...]
United bid 16m for Valencia but old foes Real are lurking June 7, 2009 MANCHESTER United and Real Madrid look set to resume hostilities in the transfer market this week as the race to sign Luis Antonio Valencia heats up. Wigan wide man Valencia’s displays last season earned him plenty of admirers and it is understood that both United and Real have lodged bids in excess of £16m. The [...]
Newcastle takeover bid attracts local attention June 7, 2009 Mike Ashley could be close to escape from his controversial spell as owner of Newcastle United after it was revealed there was “real and decent interest” in the football club from more than one Tyneside party. Sports Direct owner Ashley is desperate to sell the club, which was relegated from the Premier League last month, [...]
Liverpool in turmoil after owners lose 46m in year June 4, 2009 THE FUTURE of Liverpool owners Tom Hicks and George Gillett is in “significant doubt” unless £350m of debt is refinanced before next month’s deadline, the club’s accountants KPMG warned last night. Kop Football (Holdings) Ltd, the parent company of Americans Hicks and Gillett, made a £42.6m loss for the year ending July 2008, according to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 3, 2009 FINANCIAL TIMES BANKRUPTCIES SET TO RISEThe number of corporate bankruptcies is set to surge by 35 per cent this year, turning the world economy into a “burial ground” for businesses, according to a study by Euler Hermes, the credit insurer. In a study published today the Paris-based unit of Allianz, says the rate of corporate [...]
Premiership regains place as world’s most profitable league June 3, 2009 CHAMPIONS Manchester United yesterday set the trend for Premier League football clubs after announcing a lucrative shirt deal on the day when record-high revenue figures were announced. The Old Trafford club agreed to a four-year sponsorship deal with insurance giant Aon Corporation, replacing that of troubled AIG, which was bailed out by the US government. [...]