Nicklaus Companies launched Nicklaus-China through a partnership with Beijing-based private equity firm Finergy Capital following a deal that became official at Pasadera Country Club in Monterey, unhealthy California.

Finergy Capital will help the growth of golf in China by aiding developers with golf course and residential development. The venture will also explore other business opportunities.

Nicklaus Design has nineteen exisiting courses operating in China, twelve that are under development and ten projects that are signed and in the planning process.

The Nicklaus-China venture will be based in Beijing, the office will include both Chinese and American executives.{jcomments on}

 

 

 

Private equity firm Archer Capital has agreed to buy a controlling stake in the Australian V8 Supercars auto-racing championship in a transaction that values the series at about US$316m.

A 60 per cent stake in the championship will now be owned by Australian Motor Racing Partners Pty Ltd., health funded by Sydney-based Archer, with the racing teams and management holding the remaining 40 per cent, V8 Supercars said in a statement.

Australian Motor Racing Partners Director Andrew Gray claimed that Archer Capital will take on “a moderate amount of debt” to become the majority owner of Australian motor sports’ premier series. Sports and Entertainment Ltd. had held a 25 per cent share in the sport and the teams the other 75 per cent.

Gray said at a news conference in Sydney, broadcast on the V8 Supercars website: “We are long-term investors and we’re patient investors. The business has grown exponentially over the last decade. There’s a lot of growth to come.”

V8 Supercars Chairman Tony Cochrane will continue in the role and oversee the day-to-day management of the sport, which takes in races in Australia, Abu Dhabi and New Zealand and attracted an average of 126,000 trackside spectators per race last season.

Cochrane said the new ownership structure will enable V8 Supercars to proceed with plans to add two to three new events at international venues from 2013, adding: “This gives us a strong foundation to move on. There will be more racing out of this decision today.”

Formula One team Williams has seen profits for 2010 rise by 28 per cent after what it says was a “solid” financial year accumulating pre-tax profits of £5.8m (US$9.5m) after the cost of investing £1.9m ($3.1m) in energy firm Williams Hybrid Power and the Williams Technology Centre in Qatar.

Team Principal Sir Frank Williams said 2010 had been one of the toughest years for attracting sponsorship and as part of the firm’s plan “to take the business forward”, it listed on the Frankfurt stock exchange in March.

Chairman Adam Parr said its initial public offering and listing had “secured the team’s long-term future by providing a sustainable ownership structure”.

Part of the new Williams’ strategy this spring was to secure a partnership with a leading car manufacturer and last week, plans to build a hybrid supercar in conjunction with Jaguar were announced.

Sir Frank Williams, who remained majority shareholder and team principal despite the stock market launch, stated: “Commercially, 2010 has given Williams a solid foundation from which to grow.”

Williams are one of the most successful teams in F1 history but they have not won a championship since 1997 and last won a grand prix in 2004. In recent years, they have struggled to raise the budget required to compete at the front.

Williams decided to take on the Venezuelan rookie Pastor Maldonado whose presence is linked to a multi-year, multi-million pound sponsorship deal with his country’s state oil company, Petroleos de Venezuela SA (PDVSA).

Williams said: “Amidst one of the harshest sponsorship environments for a long time, we signed PDVSA and upgraded and extended existing partners, Randstad and Oris.”

English Championship club Middlesbrough are offering shirt sponsorship deals on a monthly basis after it failed to attract a season-long offer which met its expectations.

The sponsorship offer, named ‘Tailored for You…’, expects to attract local, national and international attention.

The club’s chief operating officer, Neil Bausor, said: “For some months now we have also been proactively engaged with numerous organisations for the club’s front of shirt sponsorship rights from the start of the new season.

“Those conversations have ultimately not progressed to a satisfactory conclusion for us, and whilst it is important to recognise we are in a turbulent economic climate, I must also protect the best interests of the club commercially.”

Middlesbrough’s head of commercial partnerships, Matt Smith, added; “We are all genuinely excited in taking this new approach to the market. Sponsorship in football is long established now but this will definitely offer something different.”

The club will offer packages for each of the ten months for the upcoming 2010/11 season.

The England and Wales Cricket Board (ECB) has appointed Sanjay Patel as its new Chief Sales and Marketing Officer replacing John Perera who steps down as Commercial Director.

Currently Heineken’s Marketing Strategy and Planning Director, sick he will succeed the ECB’s Commercial Director John Perera who is retiring from this role at the end of the year after nearly a decade in the post.

Mr Patel, symptoms who has marketed a variety of well-known drinks brands including Gordon’s gin, sale Smirnoff and Bulmers cider, recently oversaw a major organisational and cultural change programme at Heineken and delivered a new five year business strategy for the company.

In a further move, ECB also announced that its deputy Chairman, Colin Graves, will become Chairman of the Board’s commercial committee. Mr Graves, who is also Chairman of Yorkshire, founded the supermarket chain Costcutter and oversaw its growth into a franchise network of more than 1,700 stores.

ECB Chief Operating Officer Gordon Hollins, who oversaw the recruitment of Mr Patel, said: “This is a new position which will oversee all the Board’s sales and marketing activity, manage relationships with commercial partners and implement our new digital media strategy.

“Sanjay has a wealth of experience of working with major brands and a proven track record of delivering commercial success. We are delighted to have secured his services and he will take a lead role in shaping our commercial strategy as we go forward.”

Since joining ECB in May 2005, John Perera has successfully concluded two broadcast rights agreements for ECB’s domestic and international programme.  He has also secured two Asian broadcast deals as well as securing further broadcast contracts in South Africa, Australia, New Zealand, North America, the Caribbean and Europe.

Under his leadership, the ECB commercial team has also secured lucrative partnerships with blue-chip business brands such as Investec (Test matches) Waitrose (England teams), Royal London (One-Day International and domestic cricket) and a range of official suppliers including adidas, Jaguar and the Times.

Paying tribute to Mr Perera, ECB Chief Executive David Collier said: “In an extremely tough and competitive marketplace, John has done a magnificent job in securing record-breaking revenues for cricket; developing mutually beneficial partnerships across the sport and building an ever-expanding  commercial ‘family’ of sponsors and suppliers.

“His legacy is a hugely impressive one and on behalf of the ECB, I would like to place on record my sincere thanks for all his efforts. Without his professionalism and expertise, ECB would not have been able to make such substantial investments into England teams, First Class cricket and our recreational game as it has over the past decade. Cricket is now extremely well placed to develop further as a sport and we wish John well in the future.”

The World Taekwondo Federation has announced that five Member National Associations (MNAs) have applied to host the World Taekwondo GP between 2014 and 2016.

China, adiposity Mexico, bronchi Qatar, Russia and the United Kingdom have all formally declared their desire to host one or more of the six World Taekwondo GP Series and the three World Taekwondo GP Finals that will be held over the next three years. The seven cities that have been nominated by their respective MNAs are:

• ·         Suzhou, China
• ·         Mexico City, Mexico
• ·         Doha, Qatar
• ·         Kazan, Russia
• ·         Moscow, Russia
• ·         St. Petersburg, Russia
• ·         Manchester, United Kingdom

President of the World Taekwondo Federation, Chungwon Choue, said: “We are delighted with the level of interest in hosting the World Taekwondo GP over the next three years. Our five applicant MNAs are from all over the world and demonstrate taekwondo’s ever-increasing popularity and global appeal. 

“This is an incredibly exciting time for taekwondo. The World Taekwondo GP will bring together the very best athletes to compete in state-of-the-art arenas in truly global cities. I have no doubt that whichever cities are selected will host world-class events over the next three years and help to realise the huge commercial potential of our sport.”

The organising committee for the Qatar 2022 World Cup has appointed International law firm Clifford Chance to advise on its technical programme, including the development of the centrepiece Foster & Partners-designed Lusail Iconic Stadium.

Clifford Chance Doha managing partner Richard Parris said in a statement: “It’s a privilege to be working on a high-profile project such as the Lusail Iconic Stadium, which will set the benchmark for stadium development.”

Other partners involved in the mandate alongside Paris are Sandy Hall, David Metzger and Tim Steadman.

The firm launched in the Qatar Financial Centre in June 2011, with Parris then highlighting the World Cup bid win as a significant opportunity for the firm’s nascent local office.

Andrew Longmate, a former London partner at Latham & Watkins and now general counsel of the Qatar 20222 Supreme Committee, said: “The 2022 Fifa World Cup is a prestigious and high-profile event. It is essential that we work with suppliers who are best-in-class and can deliver a quality service.”