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 [...]
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 [...]
Setanta’s non-payment has its rights-holders fretting June 2, 2009 THE Scottish football authorities were yesterday fearing the worst after Setanta, the struggling pay telelvision company, missed a £3m payment and gave no indication when it might be forthcoming. The missed payment has sent shockwaves through the Scottish football establishment which recently signed a lucrative four-year deal with Setanta worth £125m. Last night the chairmen [...]
Prepare for a feast of entertainment June 2, 2009 WHILE all eyes are naturally on England’s bid to reclaim that precious little urn from the Australians this summer, there is a small matter of a worldwide tournament taking place on home soil, which has almost gone unnoticed. Following the success of the inaugural competition in South Africa two years ago, the world’s biggest hitters [...]
City steal march on bigger rivals by signing 12m Barry June 2, 2009 ENGLAND midfielder Gareth Barry last night insisted joining Manchester City had been an easy decision after sealing a surprise £12m switch from Aston Villa. The 28-year-old ended a year of uncertainty over his future by signing a five-year contract with the big-spending Eastlands outfit that will see his wages almost double to £90,000-a-week. Barry was [...]
SUMMER SALES June 2, 2009 Bruce set for Sunderland jobSUNDERLAND are today expected to confirm the appointment of Wigan boss Steve Bruce as manager. Bruce is set to sign a three-year contract thought to be worth £60,000 per week at the Stadium of Light, after the two clubs agreed compensation earlier this week. The former Birmingham manager, who steered Wigan [...]
ITV is offered Setanta stake June 1, 2009 ITV HAS been offered a 30 per cent stake in Setanta, the struggling pay-TV sports channel, CityAM has learnt. The offer came amid recent talks between the two channels, with Setanta desperate to raise cash to help it fund forthcoming rights payments to the Football Association, the Premier League and other sporting bodies. ITV is [...]
Martinez on Wigan radar as Bruce weighs up Sunderland June 1, 2009 WIGAN boss Steve Bruce is on the verge of being appointed Sunderland manager after the two clubs agreed a compensation package. A deal could be completed as early as today after Sunderland officials flew to Portugal, where Bruce is on holiday, to open talks. Wigan chairman Dave Whelan had demanded £3m to release Bruce from [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 31, 2009 THE SUNDAYSTHE SUNDAY TIMES SKY SAYS NO TO SETANTASports organisations including the Scottish Premier League may be forced to stomach deeper-than-expected cuts to their TV income after shareholders in Setanta failed to stump up enough cash to keep the broadcaster alive. Setanta’s financial position was so parlous this weekend that it asked arch-rival BSkyB for [...]