Real Madrid top Deloitte Football Money League as Champions League revamp boosts Premier League’s rivals
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. [...]
What credit crunch? Football clubs set to go on defying the downturn June 3, 2009 LUCRATIVE broadcast deals have fuelled huge revenue increases in the Premier League as football continues to prove resistant to the economic downturn, according to a report published today. Total revenue for the 20 top flight clubs rose 26 per cent to £1.9bn for the 2007-08 season. That figure is expected to reach £2bn for the [...]
Tevez and Eto’o on wish-list for Hughes’ City revolution June 3, 2009 MARK HUGHES has confirmed he is targeting striker Carlos Tevez to join his Manchester City revolution. Hughes beat off competition from several high-profile rivals to land England midfielder Gareth Barry in a £12m deal on Tuesday. Now he is looking to press on with his pursuit of Tevez, who has come to the end of [...]
Wednesday looks for 20m June 2, 2009 SHEFFIELD Wednesday’s chairman Lee Strafford has just appointed US banking advisers to help him flush out a £20m investment for the Championship football club. Strafford, who co-founded PlusNet before selling it to BT in 2007 for £67m, has just returned from the US where he and Wednesday chief executive Nick Parker met a number of [...]
Barclays bet makes Abu Dhabi 1.5bn June 2, 2009 AN Abu Dhabi-based sovereign wealth fund sold more than 11 per cent of Barclays yesterday, pocketing a £1.5bn profit less than seven months after making its £3.5bn investment. In an incredibly fast turn-around, Credit Suisse placed around £3.5bn of instruments – which were due to convert to Barclays shares by the end of the month [...]