Bolton Looks to Investors as Over £50 Million Loss Revealed

Following Bolton’s relegation from the Premier League the Championship club have revealed a financial loss of £50.7million for the year ending June 2013 with net debts rising to £163.8million. 

The club were relegated in May 2012 having spent the previous 11 years in the Premier League and annual turnover has fallen from £58.5million to £28.5million.

Chairman Phil Gartside blamed the huge losses on relegation and although the club saved £17.9million on wages, said additional revenue streams would have to be found.

Gartside said in a club statement: “This year’s results show the difficulties faced in the football business when a club has enjoyed a sustained and successful period in the Premier League, in our case 11 years, then suffers relegation back to the Football League Championship.

“The ever widening gap between the two leagues makes the transition extremely difficult, even with the benefits of parachute payments from the Premier League.”

Reebok Stadium attendances are down by 24 per cent, while sponsorship and advertising revenue had fallen from £4.3million to £1.4million.

Gartside thanked the club’s owner Eddie Davies for keeping them in business but said they would now be forced to look for other investors because of English football’s new Financial Fair Play rules.

Gartside added: “It should go without saying that Eddie Davies continues to provide a humbling level of support to the club.

“However, the financial support given by owners is no longer possible in this league without severe penalty.

“We are responding to a changing environment by improvement and development of the wider Burnden Leisure business interests.

“This year we secured sole ownership of the hotel, expanded our education business and applied for planning permission to increase our non-football operations to improve revenues over the medium to long term.

“We will continue to invest, both in the long and short term, where the returns can be justified.

“However, Financial Fair Play rules require an alternative funding structure and Bolton Wanderers is very much moving towards a self-sustainable future.

“Looking forward we have to recognise we are no longer a Premier League club in the Championship, but a Championship club with ambitions to play in the Premier League – a stark reality of the financial rules now imposed.”

Turkmenistan Hosts First International Sports Media Forum

Turkmenistan’s international sports development took a significant step forward today with the start of the inaugural Turkmenistan International Sports Media Forum 2013 in the country’s capital, ed Ashgabat.

Forty of the world’s sports media from 23 different countries are attending the Forum to hear a range of high profile speakers and view the city’s impressive new iconic sports facilities. Speakers include Gianni Merlo, President of AIPS, and Michael Cole, Former London 2012 Marketing and Communications Director for BT Global Services. International media are also joined by 80 foreign correspondents and local media for the Forum’s discussions, which will focus on best practice in media operations ahead of Turkmenistan hosting their first ever major international sporting event, the Asian Indoor and Martial Arts Games 2017.

Day 1 of the Forum began with a welcome address by the Chairman of the State Committee of Turkmenistan for Sport, Batyr Orazov. Welcoming everyone to the Forum, Mr Orazov said:

“It is a great honour for Turkmenistan to be hosting so many media from the sports world. We look forward to sharing best practice with them and receiving the benefit of their experience ahead of hosting our first major international sporting event, the Asian Indoor and Martial Arts Games, in 2017.”

Day 2 of the Forum will see the delegates touring Turkmenistan’s rapidly developing state-of-the-art Olympic Complex, which includes two brand new stadiums, a velodrome, countless training centres, and a luxury media hotel. Highlights of Day 2 will also include a speech from Osman Karakus of Polimeks, the Turkish construction company developing the Complex.

Gianni Merlo, the President of AIPS – which is partnering the Forum – also delivered a keynote address to the delegation:

“AIPS is delighted to be involved in the inaugural Turkmenistan International Sports Media Forum 2013. AIPS is well placed to help emerging nations use sport as a way of communicating internationally. We are looking forward to our members sharing their views and best practice with the Turkmen authorities. These are exciting times for sport in Turkmenistan.”

Urvasi Naidoo Quits as CEO of International Netball Federation

Urvasi Naidoo, abortion the CEO of the International Netball Federation (INF), erectile has revealed she will leave the organisation at the end of the month in order to pursue a local career, pharmacy cheap allowing her to spend more quality time with her family.

Naidoo has held the position since July 2008. Before assuming this role, Naidoo was senior counsel and company secretary of the ICC.

The INF will be advertising for a new CEO in the forthcoming months but in the meantime Clare Briegal will return to take up the reins on an interim basis. Clare was in post as interim CEO whilst Urvasi was on maternity leave in 2012 and is well known to INF Members and Stakeholders. 

INF President Molly Rhone said: “I’d like to take this opportunity on behalf of the INF to thank Urvasi for all her hard work and commitment to our sport over the past five years and to wish her all the very best in her new career.”

USOC Unveil Board to Look into Olympic Bid

The U.S. Olympic Committee (USOC) have chosen International Olympic Committee member Anita DeFrantz and USA Hockey executive Dave Ogrean to join a five-person panel to decide whether it should bid for a future Olympics.

The group is expected to report to the full USOC board at its quarterly meeting in December. It will consider bidding for the Summer Olympics in 2024 or the Winter Games in 2026.

Angela Ruggiero, Mike Plant and Susanne Lyons are the other board members on the exploratory panel.

The United States hasn’t hosted an Olympics since the 2002 Salt Lake Winter Games. The last U.S. Summer Olympics were in 1996 in Atlanta. The last two candidates, New York for 2012 and Chicago for 2016, both finished fourth in the voting.

 

London 2012 to be Most Expensive Olympics Since Atlanta 1996

The London Olympics are on track to become the most expensive Games in Olympic history since 1996’s summer Olympics in Atlanta, according to Bloomberg Businessweek.

According to a new study by researchers at the University of Oxford’s Saïd Business School, the budget for London’s upcoming Olympics has ballooned to $13 billion from its’ originally proposed target of $6.5 billion, putting it 107 percent over-budget, Business Insider reported.

The increased cost is significantly more than the average spill-over for Games during the past 10 years, the study found.

The record for budget-blowing goes to Atlanta, which overran its costs by 147 percent when it hosted the athletic competiton.

“The Olympics overrun with a 100 percent consistency,” Bent Flyvbjerg, who co-authored the research, said in an interview with Bloomberg. “You reach a point of no return seven years before the games where you commit to delivering and writing this blank check. You can’t trade off time with money in the Olympics.”

The researchers looked at data from both summer and winter Olympic games over the past 50 years, and calculated the costs of security, transportation, technology, ceremonies, and construction costs for sports venues, athlete’s villages, press and media centers, Forbes reported.

The Olympics’ actual budgets have been an average of 179 percent greater than the original bid budgets, according to Forbes.

“Any country that bids for the games probably goes into it, though they wouldn’t admit it, knowing that there’s very little likelihood of it ultimately proving to be cost effective or value for money,” Alan Seymour, a professor of sports marketing at the University of Northampton, told Bloomberg.

However, some expect London’s budget to soar even higher than these figures. According to the Daily Mail, a new report has estimated that the 2012 Summer Games will end up costing as much as $37 million.

IOC Called to Mediate BOA and London ’12 Money Row

The International Olympic Committee (IOC) has been asked to mediate ongoing disagreements over money between the British Olympic Association (BOA) and organisers of the London 2012 Games (LOCOG).

The BOA has claimed it did not get a fair deal when an agreement over sponsorship income was struck with the London Organising Committee for the Olympic Games (LOCOG) in 2005, symptoms and is subsequently facing a US$16m funding gap ahead of the Olympics, .

The two parties have been unable to agree on whether net costs involved in the staging of the Paralympic Games should be separated from any operating profit generated by the Olympics.

The BOA is due to receive 20 per cent of any surplus, but its belief that the costs should be separate is not supported by LOCOG.

The BOA has been criticised by some who say that they have embarked on an unnecessary spending spree, with accounts showing that the body’s overall salary bill has more than doubled from $3.2m to $8m million in the last six years.

A statement from the BOA read: “As the National Olympic Committee, our principal responsibility is to safeguard future opportunities for Olympic athletes and sport throughout the United Kingdom.

“We are engaged in a formal process to ensure that any surplus resulting from the London 2012 Olympic Games is used for precisely those purposes. Quite simply, our objective is this: to guarantee that the London 2012 Olympic Games deliver a meaningful post-Games legacy that is beneficial to Olympic sport and athletes, present and future, throughout the UK.”

LOCOG responded with a statement that read: “The vision for London 2012, created by the BOA, Government and the Mayor of London and set out in the bid book is for one festival of sport, with an integrated Olympic and Paralympic Games, underpinned by a single budget. It is sad that this vision is now disputed by the new leadership of the BOA. We are grateful that the IOC is helping to resolve the issue.”

Baltimore Aim to Convince DC United into Relocation

Major League Soccer (MLS) side DC United are trying to be convinced by the local Development Corp. in the city of Baltimore, viagra sale Maryland, cialis to relocate by highlighting the economic benefits gained from a new Westport based, soccer-specific stadium.

The possibility of a move has been in talks by representatives of the club and the city respectively but formal discussions are on hold until a commitment is made with regards to a facility. The possibilities of both a 25,000-seater stadium in Westport or the far smaller option of a 10,000,seat venue.

According to a feasibility study produced on the proposals, 940 new jobs could be generated through a new soccer-specific stadium with US$2.8m in city tax revenue. It was also stated that the stadium could host 49 to 54 events every year, including 17 DC United games. Spectator spending has been estimated at between $65.7 and $78 million each year.

Nike launches rival to Adidas runners app

Sportswear manufacturer Nike has launched an application called Nike+ GPS to rival the launch of the Adidas Mi-Coach app, which was released last month.

Nike’s new product is labelled as the first “Runners App” and is engineered to operate between GPS and an accelerometoer for an accurate, motivating and entertaining runner’s tool.

The new app allow runners to visually map every run while tracking pace, distance, time and calories burned. It also includes instant feedback during and after each run, from athletes including Paula Radcliffe and Lance Armstrong

Nike+ GPS is available now in the Aple iTunes App store for US$2 and requires an iPhone or iPod touch.

 

FIFA’s Jerome Valcke Rules Out Summer 2022 World Cup, Boyce ‘shocked’ by Claims

The 2022 World Cup in Qatar will not be held in the summer months of June-July, clearing the way for the prestigious tournament to be played during the winter, according to FIFA general secretary Jerome Valcke.

The placement of the tournament has garnered a lot of attention and debate ever since it was controversially awarded to Qatar in December 2010, especially over fears that the summer heat in the Gulf emirate would be dangerous for players and fans alike.

“The dates for the World Cup (in Qatar) will not be June-July,” Valcke, the second most powerful man in international football’s governing body, told Radio France.

“To be honest, I think it will be held between November 15 and January 15 at the latest.

“If you play between November 15 and the end of December that’s the time when the weather conditions are best, when you can play in temperatures equivalent to a warm spring season in Europe, averaging 25 degrees.

“That would be perfect for playing football.”

FIFA suggested in October thay would delay making an official decision on whether to play the tournament in the winter saying it was setting up a consultation process to decide when the finals should be held.

At the time, soccer’s world governing body announced it would reach a conclusion sometime after this year’s World Cup in Brazil.

Boyce ‘shocked’ by Valcke’s Comments

Valcke’s sudden reveal has surprised FIFA vice-president Jim Boyce who told Sky Sports News: “I’m totally, completely shocked to be honest. The situation as I am aware was that the FIFA executive committee would be awaiting a report set up by all the stakeholders involved in the World Cup.

“They would be meeting between now and the World Cup being held in Brazil next summer and reporting back to the executive meeting and there would no further discussions on Qatar 2022 until another executive meeting in December 2014.

“Whether Jerome was making a personal opinion or not I just don’t know but I can honestly confirm that this has not been discussed at the executive committee of FIFA.

“I feel that it is most important that all the stakeholders meet first before reporting back to the executive committee. So I’m very surprised about what has happened this morning.”

Qatar 2022 organisers said they would be ready to host the World Cup whatever decision was taken.

A statement read: “During the Fifa executive committee meeting in October it was agreed that Fifa would enter a period of consultation on the ideal time of year to host the World Cup in Qatar – with a recommendation expected after the World Cup in Brazil.

“We await the outcome of this consultation period. We will be ready to host the World Cup regardless of the outcome.”

The average temperature in the summer months in Qatar can be around 35C (95 Fahrenheit) and 45C (113F).

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50 Sponsorship Deals of the Week: 22/11/13

In Date Order (recent first):

1

Elverys Sports Named Official Retail Partner of Connacht Rugby

Friday, 22 November 2013

2

British Olympic Association Seals Thomas Lyte Partnership

Friday, 22 November 2013

3

Pinnacle Foods to Sponsor JR Motorsports Kevin Harvick

Friday, 22 November 2013

4

Olympic Medalist Dara Torres Endorses Tommie Copper

Friday, 22 November 2013

5

NHL Star John Tavares Becomes Face of Gillette in Canada

Thursday, 21 November 2013

6

Ice=Watch to Sponsor Queensland Reds

Thursday, 21 November 2013

7

Novo Nordisk Named Title Sponsors of New Jersey Marathon

Thursday, 21 November 2013

8

Arsenal Reveal Lanvin as Official Tailor

Thursday, 21 November 2013

9

FIAT Extend British Cycling Sponsorship Until 2016

Thursday, 21 November 2013

10

Sony Extends Title Sponsorship of PGA Tour Event in Hawaii

Thursday, 21 November 2013

11

Crescent Racing Reveals Voltcom as Title Sponsor for 2014 World Superbike Season

Thursday, 21 November 2013

12

Boston Networks Named Official Cabling Services Provider for Glasgow 2014

Thursday, 21 November 2013

13

WIX Filters to Sponsor NASCAR’s Richard Childress Racing

Thursday, 21 November 2013

14 

FIFA Ink Adidas Sponsorship Extension Until 2030

Thursday, 21 November 2013

15

Tour of Wessex Seals Three New Sponsors

Thursday, 21 November 2013

16

Firestone to Title Sponsor Opening Race of 2014 IndyCar Season

Thursday, 21 November 2013

17

Charter Media to Sponsor Panther Racing for 2014 IndyCar Season

Thursday, 21 November 2013

18

NFL Signs International Marketing Partnership with Brand USA

Wednesday, 20 November 2013

19

Diageo Named Exclusive Spirits Partner of the NBA

Wednesday, 20 November 2013

20

Gwangju 2015 Adds ‘national sweetheart’ Suzy as Ambassador

Wednesday, 20 November 2013

21

Western Bulldogs Seal White King Partnership

Wednesday, 20 November 2013

22

Sydney Sixers Announces iNet as First Ever Principal Sponsor

Wednesday, 20 November 2013

23

Blacks Solicitors to Shirt Sponsor Wakefield Trinity Wildcats

Wednesday, 20 November 2013

24

Oracle to Support 2013 Winter Universiade in Trentino

Wednesday, 20 November 2013

25

British Ski and Snowboard Reveal SPORTTAPE Partnership

Wednesday, 20 November 2013

26

Football League Reveals Trade Point as First Ever Official Trade Supplier

Wednesday, 20 November 2013

27

Russian Oil Company to Sponsor Spengler Cup

Wednesday, 20 November 2013

28

Gymnova Named Official Gymnastics Equipment Provider for Glasgow 2014

Wednesday, 20 November 2013

29

New York Road Runners to Title Sponsor 2014 Millrose Games

Wednesday, 20 November 2013

30

Mistic to Sponsor KVSH Racing’s Sebastien Bourdais

Wednesday, 20 November 2013

31

Capital Network Solutions Announced as Official IT Partner of London Welsh

Wednesday, 20 November 2013

32

Yamaha to Sponsor AMA Supercross

Tuesday, 19 November 2013

33

Octopus Investments to Sponsor Surrey Cricket’s T20 Matches

Tuesday, 19 November 2013

34

LA Clippers Signs Yokohama Tire Sponsorship

Tuesday, 19 November 2013

35

Paris Saint-Germain Announce Microsoft Partnership

Tuesday, 19 November 2013

36

IG Named as Principal Sponsor for Harlequins Big Game 6 Match

Tuesday, 19 November 2013

37

AT&T Renews Title Sponsorship of Pebble Beach National Pro-Am

Tuesday, 19 November 2013

38

Intersport to Sponsor Four Hills Ski Tournament

Tuesday, 19 November 2013

39

Texas Trust Named Official Credit Union Sponsor of University of Texas at Arlington

Tuesday, 19 November 2013

40

Twenty20 International to Sponsor Germany’s Cricket Bundesliga

Tuesday, 19 November 2013

41

Orlando City Reveal Orlando Health Sponsorship Extension

Tuesday, 19 November 2013

42

Canadian Olympic Committee Seals Mondelēz Partnership

Monday, 18 November 2013

43

Kei Nishikori to Fly with Delta Air Lines

Monday, 18 November 2013

44

Metropolitan State University Sells its Naming Rights to New Athletic Complex

Monday, 18 November 2013

45

CFL’s Calgary Stampeders Extends Western Direct Sponsorship

Monday, 18 November 2013

46

Ferrari Sign Oakley Partnership

Monday, 18 November 2013

47

Michelob ULTRA Inks New Deal as Official Beer of PGA Tour

Monday, 18 November 2013

48

DB Schenker Renews Logistics Partnership with IPC

Monday, 18 November 2013

49

Qatar FA Inks Shell Sponsorship Deal

Monday, 18 November 2013

50

Gray Nicolls Named Official Kit Supplier of Durham Cricket

Monday, 18 November 2013