La Liga club Valencia have a new owner after Singapore businessman Peter Lim bought a 70.4% of the shares owned by the club’s foundation.
The Valencia Foundation’s patrons voted for Lim’s proposal ahead of other offers from international consortiums offering large cash injections. “Peter Lim has completed the takeover,” a club spokesman told Reuters.
The spokesman added that the next task for the new owner will be to agree a deal with creditors Bankia, who are owed €220m. The club’s total debt is around €360m.
Lim was the choice of the club president, Amadeo Salvador, who felt that his offer was best suited to turning around the fortunes of the club which failed to qualify for next season’s Champions League and were knocked out of the Europa League earlier this month by eventual winners Sevilla in the semi-finals. Valencia are 10th in La Liga.
SportAccord Convention today announced the addition of a flock of exciting new conference speakers for the 12th annual event, price buy which is now less than three weeks away in Belek/Antalya, no rx Turkey. SportAccord Convention 2014 will be held from April 6-11 at the Susesi Convention Centre.
Olympic swimming legend Donna de Varona, President of DAMAR Inc., who has pioneered efforts to empower girls and women through sport, will take part in the session “A Women’s World: The Journey Towards Sporting Equality.”
Brett Gosper, Secretary General of the International Rugby Board, has joined the line-up for the session on “The New Face Of Leadership.”
Gideon Sam, President of the South African Sports Confederation and Olympic Committee
will participate in the debate on “Establishing New Markets” in the City Forum.
Joining him on that panel will be Yusuf Hacisüleyman, Chairman of the Mediterranean Association of Touristic Hoteliers;Gernot Leitner, Chairman of Masterconcept, and
Professor Nikolay Peshin, Pro Rector of the Russian International Olympic University in Sochi.
New speakers joining the City Forum session on “Sharing the Bidding Process and Responsibilities” will be Susan Sawbridge, Manager of Event Prospecting and Bidding of Auckland Tourism, Events and Economic Development, and H.U. (Henk) Stokhof, Head of the City of Amsterdam’s Sports Department.
The 12th edition of SportAccord Convention this year will be the first edition of the world sport summit held in Turkey. Belek/Antalya is a developing sports hub which recently hosted the 2013 World Archery Championships. In May, the area will welcome the 2014 Turkish Airlines Ladies Golf Open, which is part of the Ladies European Tour.
Held in a different city every year, SportAccord Convention is a unique opportunity for international sporting leaders to engage with business, and features a dynamic exhibition as well as the annual general meetings of governing bodies of world sport.
Ross Brawn will leave his position as team principal at Mercedes F1 at the end of 2013, it was announced today.
Brawn, 59, whose future at the Brackley-based squad had been the subject of considerable speculation in recent months, has chosen to hand over the team leadership to executive director (business) Toto Wolff and executive director (technical) Paddy Lowe.
“The most important consideration in my decision to step down from the role as team principal was to ensure that the timing was right for the team in order to ensure its future success,” said Brawn.
“The succession planning process that we have implemented during this year means we are now ready to conduct the transition from my current responsibilities to a new leadership team composed of Toto and Paddy.
“Mercedes-Benz has invested significantly in both the personnel and infrastructure at Brackley and Brixworth. Thanks to the one-team approach we have implemented between the two facilities, the team is uniquely positioned to succeed in 2014 and I am proud to have helped lay the foundations for that success.
“However, 2014 will mark the beginning of a new era in the sport. We therefore felt this was the right time to simultaneously begin a new era of team management to ensure that the organisation is in the strongest possible competitive position for the years to come.
“We can take pride not just in our on-track achievements but also in the organisation we have built at Brackley,” he added. “In its different guises over the past six seasons, this team has delivered some of the most memorable moments of my career. Our second place in this season’s constructors’ championship is an important milestone on the road to championship success.
“I am confident that the future will hold just as much success for the team and will take real pride in having played my own part in those achievements.”
Niki Lauda, Mercedes’ non-executive chairman, hailed Brawn’s contribution to the team: “First of all and most importantly, we must say thank you to Ross. When you consider the step that has been made from finishing fifth in 2012 to the second place that we have secured this season, he has been the architect of this success. He put the plans in place to recruit key people since early 2011, and the performance this season shows that the team is on the right track.
“We have had long discussions with Ross about how he could continue with the team but it is a basic fact that you cannot hold somebody back when they have chosen to move on. Ross has decided that this is the right time to hand over the reins to Toto and Paddy and we respect his decision.”
Brawn won multiple world titles with Benetton and Ferrari before becoming team principal at the then Honda team in late 2007. When the Japanese manufacturer pulled out of Formula One racing at the end of 2008, Brawn acquired a large share of the team, which was renamed Brawn GP. The squad scored a famous double in 2009, winning the drivers’ championship with Jenson Button and seeing off Red Bull in the race for the constructors’ title.
A surge in demand for London 2012 merchandise has been fuelled by huge public interest in the Games.
Sales at London 2012 shops have increased by 115% since the start of the Games and 750,000 visitors are expected to visit the London 2012 Megastore in the Olympic Park during the Games.
A great selection of Games mementos are still on sale to suit all budgets and tastes, from 50p coins to sports specific merchandise such as pictogram t-shirts, caps and keyrings. Items that are no longer available, include the Opening Ceremony pin badges, which sold out almost immediately, and tennis ducks from Wimbledon, which sold out in three days.
London 2012 is also offering merchandise that can only be bought within Olympic venues. The ‘Olympic Venue Collection’ includes the gold Wenlock soft toys that have been seen with athletes after their events, as well as sport-specific clothing and other items marked with dates and event names to commemorate visitors attendance at the events. Other mascot toys, including Union Flag Wenlock and Mandeville and Team GB mascot Pride the Lion are available to buy online
Barcelona has extended its contract to host MotoGP until 2016, buy promoters Dorna has revealed.
The Circuit de Catalunya track has been on the MotoGP calendar since 1992, with nearly 150,000 spectators attending the three days of the racing weekend earlier this month, which was won by Australian Casey Stoner on June 5.
CEO of rights holders Dorna, Carmelo Ezpeleta, said: “I am pleased the Circuit de Catalunya remains part of the history and the future of MotoGP. It provides a modern facility that has for 20 years had a presence in the highest discipline of motorcycle racing.
“This circuit has hosted a non-stop schedule of racing since Dorna has been organising the World Championship, providing a very professional team that has won several awards for its work.”
Circuit general director Salvador Servia added: “It is a pleasure to approve an agreement that allows an annual race that generates an economic impact of 30 million euros for the entire area surrounding the circuit.”
The previous agreement was due to come to an end this year.
Despite admitting that it was struggling to find enough money to fund Team GB at the London 2012 Olympics earleir in the year, The British Olympic Association (BOA) managed to stay in the black last year, in spite of significant increases in both its cost of sales and administrative expenses.
The body managed to make a pre-tax profit for the year ended December 31, 2010 of exactly US$379,664, less than half the 2009 figure of just over $885,287.
The significant fact, however, was that the most recent profit was achieved without important exceptional items and it can therefore be said that the BOA succeeded in living within its means in 2010, in spite of the cost of sending a team to the 2010 Vancouver Winter Olympics.
In 2009, the accounts were dominated by more than $2.6m of exceptional income after the BOA booked a $3.4m profit on the disposal of property in Wandsworth, South-West London, as a result of moving its head office to Charlotte Street in October 2009.
Revenue in 2010 rose substantially from $13.37m to $18.62, while cost of sales climbed from $6.5m in 2009 to $7.36m and administrative expenses from $8.69m to $10.95m.
Meanwhile, media reports have suggested that the average salary of BOA staff has risen by more than 20% in the last year, despite claiming in March that the total cost of its responsibilities is thought to be more than £5m (US$8.1m), a figure that the BOA were, at the time, well short of.
However, the latest figures suggest that the average pay of a member of staff at the BOA has risen by more than £13,000 ($21,000) in the last 12 months and the average salary at the organisation is now more than £75,000 ($121,270). The number of staff employed fell during 2010, from 57 to 52, yet the wage bill rose by around £400,000 ($646.758).
A statement from the BOA said: “Those 52 people were instrumental in helping the organisation deliver a year-end profit of £236,000 and increase its reserves to £2.2m for 2010. This is the second consecutive year in which the BOA has produced a profit and expanded its reserves.
“The unprecedented opportunities and challenges associated with preparing to support Team GB in a home games environment require the BOA to attract the best-possible talent. Clearly, having delivered a year-end profit for 2010, the organisation is living within its means.”
English luxury brand Thomas Lyte have revealed they have made only the third edition of the FA Cup trophy who the winners will lift this weekend.
The 2014 trophy will replace the 1992 edition, which in turn replaced the first iteration of the current design in 1911.
Made by world renowned silversmiths Thomas Lyte of London, the new trophy is made from 6.3kg of sterling silver and, standing at 61.5cm, is a perfect replica of the 1911 trophy. The 1992 trophy will remain in The FA’s possession at Wembley Stadium.
Alex Horne, General Secretary of The FA, said: “This is an historic moment in the proud 143-year history of The FA Cup. This is only the third version of the iconic trophy since 1911.
“The current trophy is fragile and is too delicate to continue to repair, so must be retired for these reasons. However, it will remain cherished and will forever be an integral part of The FA Cup’s rich history, having been lifted by the likes of Roy Keane, Patrick Vieira, Sol Campbell, Steven Gerrard and Tony Adams.”
Kevin Baker, Chief Executive of Thomas Lyte, said: “After many years of restoring the previous trophy, we are honoured to be making the new FA Cup. This sporting trophy is a national treasure, an icon of English football, and its heritage is embedded within the design and craft of the new trophy. Thomas Lyte prides itself on the skills of its expert silversmiths and this iconic symbol of competition and fair play couldn’t be in better hands.
“The FA Cup is a masterpiece of British silversmithing, hand crafted by Thomas Lyte’s Master Silversmith Kevin Williams, who is a Freeman of the Worshipful Company of Goldsmiths. Kevin is a world renowned craftsman, and understands the unique construction of The FA Cup, having restored the 1992 trophy for the past 18 years. Hand spun from Sterling 925 Silver, the trophy underwent the painstaking process of casting, hand chasing, hand engraving and polishing. Originally commissioned in 2013, over 250 craft hours have been used to make this stunning 2014 trophy.”
As official silversmiths, Thomas Lyte Silver, is one of the few remaining craftwork shops in the UK producing exquisite gold and silver trophies. The London workshops are responsible for designing and making trophies across the globe and are official restorers of silverware to Buckingham Palace.
Thomas Lyte has a strong affiliation with football globally. They design and make football trophies and awards across five continents. This commission marks the next step in their partnership with The FA and British football.
Arsenal will face Hull City for the right to raise the Cup on Saturday.
Pete Bevacqua will continue to be the Cheif Executive Officer of the PGA of America after the golf organisation’s Board of Directors granted him an extension until 2018.
His original contract was a three-year-deal.
Bevacqua, 42, completed his first year with The PGA of America having overseen two landmarks in Association and golf industry history – an unprecedented NBC broadcasting multi-platform agreement through 2030 for the Ryder Cup and Senior PGA Championship presented by KitchenAid; and teaming with New York Gov. Andrew Cuomo to bring the 2019 PGA Championship and 2024 Ryder Cup to one of the country’s renowned public courses, the Black Course at Bethpage State Park in Farmingdale, N.Y.
“The PGA of America is in the midst of an exciting new chapter of growing the game of golf, and Pete’s leadership this past year has elevated the process,” said PGA of America President Ted Bishop. “It’s with great pride that our Board of Directors extend our agreement with Pete as we go forward to carry a strategic plan that enhances our member Professionals and their standing within the golf industry.”
Bevacqua is a native of Bedford, N.Y., a 1993 graduate of the University of Notre Dame, with a law degree from Georgetown University. He began his professional career working for the New York firm of Davis Polk before joining the United States Golf Association, serving as in-house counsel, managing director of the U.S. Open Championship, and first-ever chief business officer. In 2011, Bevacqua left the USGA to join CAA Sports, a division of Creative Artists Agency.
“This has been the most memorable and enjoyable year of my professional career, and I am honored to have the continued endorsement and the support of PGA members to advance our Association,” said Bevacqua. “PGA Professionals represent the best of our sport, bringing unbridled passion and talent to growing the game on many levels. To have their confidence as we continue the countdown to our centennial in 2016 and beyond is truly gratifying.”
Sheikh Ahmad Al-Fahad Al-Sabah, head of the Association of the National Olympic Committees (ANOC), has shown his unwavering support of wrestling to be in the 2020 Olympics by revealing the unanimous support of his executive council.
The ANOC executive met in Sydney on Tuesday, the first gathering since the International Olympic Committee (IOC) made a surprise recommendation to dump wrestling from its program after the Rio de Janeiro Games in 2016.
ANOC agreed on Olympic Solidarity scholarship measures and also a new constitution during Sydney’s meet, which is expected to be approved when its general assembly meets in Lausanne in June.
Each ANOC assembly is followed by a joint meeting with the IOC executive board, the organ that recommended wrestling be cut.
“(There was) unanimous support for wrestling … and we will meet the IOC to discuss,” IOC member Al-Fahad Al-Sabah told AAP.
“We are very keen to maintain wrestling in the sport program.
“Like everybody we’re surprised wrestling is out of the program … I think there’s surprise not only in this house, but outside. Even in the house of the IOC when the result was announced. Surprise was everywhere.
“We will work very closely with the wrestling IF (international federation) and the NOCs and the continent organisations to give us support for wrestling to maintain its place in the sports program.”
Wrestling’s Olympic fate is set to be decided at an IOC session in September, which will be held in Buenos Aires.
“We respect the mechanism and the resolution of the IOC, but also I have confidence that the session will vote in favour of maintaining wrestling,” Kuwaiti Al-Fahad Al-Sabah added.
ANOC’s support comes after wrestling leaders from political foes Iran and the United States united as part of a coalition of nations aiming to keep the sport in the Olympics.
During a recent World Cup in Tehran, the US team shook hands and posed for photographs with Iran president Mahmoud Ahmadinejad.
The host of the 2020 Olympics – down to a race between Tokyo, Madrid and Istanbul – will also be broached at ANOC’s next general assembly.
English Basketball team, anesthetist Milton Keynes Lions are set to move into the Copperbox, anabolics currently hosting Olympic Handball for the 2013/14 season.
Through this juncture MK Lions will re-brand to be known as the London Lions and be based at Crystal Palace for the 2012/13 season with the intention of permanently moving to the Olympic handball arena (the Copper Box) for the 2013/14 season.
Lions chief executive Vince Macaulay said he was devastated by having to leave Milton Keynes after 15 years because he could not find a place for the club to play.
However, with a move to the stunning 6,000 capacity Copper Box – which has been the home of the Olympic handball competition – now confirmed, Lions can finally look forward to an optimistic future.
With the Olympics still ongoing and the new BBL season just over six weeks away, Lions will not be able to move into the Copper Box until next year.
That move will come in time for the start of the 2013/14 BBL season, so in the meantime Lions will play their home games – the first against league champions Newcastle Eagles on September 23 – at the Crystal Palace National Indoor Arena in south London.”
