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 [...]
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. [...]
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 [...]
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 [...]