Rangers Stock Exchange Listing Bares Fruit
Rangers listing on the stock exchange has bared some fruit as they have raised more than £22m from the listing.
Chief executive Charles Green previously said he had secured £17m in pledges from investors and had set aside £10m for fans to buy a stake.
But a statement on Tuesday read: “A total of £22.2 million has been raised from professional and institutional investors and supporters which will be used to take the club forward, medic strengthen the squad when appropriate and improve facilities.”
Green, purchase whose company bought the assets and business of Rangers for £5.5m when the club was liquidated in June, praised supporters for their contribution despite falling short of the revised target.
In a statement, Green said: “This is an exciting time for everyone associated with this 140-year-old institution but we are just at the start of the journey.
“We are rebuilding and Rangers will rise again and we will do so with the help of our fans and the institutional investors who are on board.
“This process has generated over £22m, which has exceeded the figure of £20m that we set out to raise when we announced our intention to float the company on 11th October 2012.
“I would like to thank our supporters who stepped up to the plate when asked to buy season tickets earlier in the season.”
Alan Whiteley Leaves CEO Post at Cardiff City
Cardiff City have lost their chief executive after Alan Whiteley stepped down from his role as CEO of the English Championship team.
His position at Cardiff City Stadium is to be filled by Simon Lim, who will take over the reins as acting CEO for the months ahead following a handover period.
A club statement said: “The decision to introduce a new CEO has been reached in light of that substantial commitment from Tan Sri Vincent Tan and Cardiff City Chairman Dato Chan Tien Ghee, both of whom having expressed a desire to have a greater degree of control and involvement over the day-to-day running of the club.
“Simon Lim’s appointment is seen to be the best means to achieve this with stability now having been achieved off the field.
“Alan Whiteley has been asked to remain on the board of directors to ensure a smooth transition at the club, while long term senior financial accountant Richard Thompson will also take on the role of financial director in an initial acting capacity.”
Major investor Tan Sri Vincent Tan said: “I would like to place on record my thanks and respect to Alan for the way in which he has held the office with dignity over the last year.
40 Sponsorship Deals of the Week: 24/06/12
Premier League Moving Closer to Financial Controls
All Premier League chairmen have agreed in principle for clubs to introduce spending controls despite some opposition at a meeting on Tuesday.
The exact details of the spending controls has yet to be agreed – specifically around how much wealthy owners can put into the club to cover losses, sources close to the process have disclosed.
The break-even model will be based on UEFA’s Financial Fair Play system and would require clubs to move towards break even, while the second would place an annual limit on the how much salaries could increase.
The club chairmen have now asked PL executives to bring back detailed plans on the spending controls for the next meeting on February 6, and on proposals to cap wage rises for players in the short term.
The Premier League is set for a big increase in television revenues from next season when BSkyB and BT will pay a billion pounds per season for domestic TV rights, in a new three-year deal worth 70 percent more than the current one.
Sales of overseas rights are expected to bring in up to two billion pounds over the next three years.
Wages account for around 70 percent of revenues at Premier League clubs, leaving very little profit for many of them.
It is understood Manchester City, Fulham and Aston Villa remained opposed to any controls but approval by only 14 of the 20 clubs is needed for the moves to go through.
West Ham co-owner David Gold told Sky Sports News: “People are realising the importance of coming to a consensus and we’re moving ever closer to it.
“It’s important we bring in governance to ensure the Premier League in future never has to experience what happened to us when Portsmouth went into administration.”
Paolo Barelli Becomes European Swimming Federation President
The European Swimming Federation (LEN) has elected Paolo Barelli of Italy as their new President for the next four years.
Barelli, generic who has acted as LEN Bureau Member since 2008, symptoms succeeds Nory Kruchten of Luxembourg after his four-year term at the helm. The election was held on Saturday at the LEN Congress in Cascais, herbal 25 kilometers away from the Portuguese capital of Lisbon.
After the Congress Barelli declared: “It is our aim to keep up the high level of European Aquatics, although it will not be easy in these economically difficult times. With an effort of the entire LEN team we might be able to get it done.” The 58-year-old Senator from Rome, President of the Italian Swimming Federationsince 2000 as well as FINA Honorary Secretary since 2009, can look back upon a successful swimming career. The Olympian (1972, 1976) as well as multiple national title and record holder won bronze at the 1975 World Championships in Cali, which was also the first ever Italian medal at World Swimming Championships.
44 of the 51 LEN Member Federations were represented in Cascais. The Congress was honored by the presence of FINA President Dr. Julio C. Maglione as well as FINA Honorary Life President Mustapha Larfaoui.
“The past four years as President went by so fast. It was a great honour for someone like me from a small country like Luxembourg to head an important Federation such as LEN. I think the time is right to pass on the responsibility to my successor. During the last years we intensified the cooperation with the World Swimming Federation FINA”, disclosed Nory Kruchten, looking back on his more than 26 years of combined experience in the LEN Technical Swimming Committee and the LEN Bureau.
German Swimming Federation President Dr. Christa Thiel, in 2008 elected first woman among the Executive Members in the history of LEN (since 1927), changed her position from Treasurer to Vice President. Her successor as Treasurer is Hungarian Tamas Gyarfas. Sven Egil Folvik of Norway, who retires from his position as LEN General Secretary will be replaced by David Sparkes (of Great Britain). Among the newly elected members of the LEN Bureau are Vladimir Salnikov (RUS), 1980 and 1988 Olympic Swimming Champion, as well as the 1988 Olympic Water Polo Champion Aleksandar Sostar from Serbia.
Just as his predecessor Bartolo Consolo in 2008, Nory Kruchten has been elected Honorary Life President while Sven Egil Folvik/NOR (until now General Secretary), Gennady Aleshin/RUS (until now Vice President), Kurt Mikkola/FIN (until now Bureau Member), Robert Ebejer/MLT (until now Bureau Member) and Stefania Tudini/ITA (until now Chairwoman of the Technical Synchronized Swimming Committee) are new LEN Honorary Members.
Soccerex Announce Summer Signings for Global Convention
Soccerex is delighted to unveil the initial line-up of International football legends that will be gracing this year’s Football Festival on the spectacular Copacabana beach as part of the Soccerex Global Convention, ambulance 24-28, symptoms November, prostate Rio de Janeiro.
Returning to the stage is Brazilian 2002 FIFA World CupTM winner and former Barcelona and Chelsea defender Juliano Belletti, as well as France’s 1998 FIFA World CupTM winner and former Chelsea legend Marcel Desailly. Desailly will be joined in the European All Star team by former Lazio and Middlesbrough midfielder Gaizka Mendieta. Representing the Latin American All Stars will be former South American Player of the Year, Carlos Valderrama and Chilean great Marcelo Salas, who will be hoping to reverse last year’s result after a comprehensive Brazilian victory. Making his first appearance at the Football Festival and tasked with keeping the legends in line is Mark Clattenburg, a man with plenty of big match experience after officiating the 2012 Football League Cup Final.
The Soccerex Football Festival is a two day event which marks the launch of the Global Convention. It‘s a celebration which combines colourful local entertainment with a host of football revelry provided by youth players, freestylers and football legends from around the world. The festival is enjoyed by both Soccerex attendees and locals alike before business begins with the 3-day conference and exhibition.
Watch this space for further player announcements as this is only the initial lineup – in recent years the football festival has attracted legendary players including Eric Cantona, Aldair, Leonardo, Bryan Robson, Ruud Gullit, George Weah, Ossie Ardiles, John Barnes and Lucas Radebe to name but a few!
Newly-formed Guangdong Futsal Association Aims to Help Develop Chinese Soccer
A non-governmental soccer association will stage more professional futsal games over the next five years in an attempt to boost Chinese soccer development.
The programme will include a futsal cup competition between Guangdong, Hong Kong and Macao next year, according to Liu Xiaowu, director of the Guangdong Futsal Association.
After being approved by the provincial civil affairs department, the Guangdong Futsal Association was inaugurated on Saturday in Guangzhou, the capital city of Guangdong province, after being approved by the provincial civil affairs department. The association is China’s first soccer organisation without governmental administration.
“We will also organize competitions between Guangdong and its neighboring provinces of Fujian, Jiangxi, Hunan and Hainan and the Guangxi Zhuang autonomous region,” said Liu.
Liu said more games will be held in neighbouring regions.
“We will develop more members in the years ahead. As a non-governmental association, we believe the organization will play a big role in boosting local soccer development,” he said.
The association developed a regional professional league, called ‘Yuechao’, or the ‘Guangdong Super League’ in 2010. A number of foreign players from Brazil and Britain joined the eight teams in the league.
“Besides the super league, we will have second and third-tier competitions from next year,” Liu said.
Futsal, has developed rapidly in Guangdong, with two independent leagues being launched in recent years.
In addition to Yuechao, the Pearl Super League, which was launched by the government-owned soccer association in Guangdong in October 2009, is the first regional professional sport league in China.{jcomments on}
Ramachandran Re-elected as World Squash Federation President
Nagasamy Ramachandran has been re-elected as the World Squash Federation (WSF) president for another four-year term at the 42nd WSF Annual General Meeting (AGM).
Ramachandran, herbal | from Chennai in India, recipe said Sunday he was honoured to have been given a further period of presidency.
“I have dedicated myself to leading the squash quest to achieve our dream of a place on the programme of the Olympic Games and will continue to do so, unhealthy ” said Ramachandran, who had succeeded squash legend Jahangir Khan in Oct 2008.
“Our sport has a great deal to offer and the chance for me to continue pressing our case is a task I will throw myself into fully.”
Belgian Hugo Hannes, the current president of the European Squash Federation, was elected the vice president for the first time, joining re-elected VPs Heather Deayton (Hong Kong) and Mohamed El Menshawy (Egypt). Jahangir Khan also accepted an invitation to continue as Emeritus President.
WSF vice-president Chris Stahl (Malta), who had not stood for re-election, was recognised by Ramachandran for his many years of dedicated service to squash generally and to the WSF specifically.
The AGM followed the two-day AGM Conference which featured a variety of presentations for representatives of 40 nations as well as a large number of observers.
The presentations included case studies of the growth in squash in Poland, marketing initiatives from other sports, a stakeholder survey from New Zealand, the Swiss National Development Plan marketing planning and an Olympic bid update given by Mike Lee of Vero Communications, the WSF bid consultants.
Liverpool & Standard Chartered to Speak at Soccerex Seminar Lagos
Soccerex have confirmed that Liverpool FC will be speaking alongside their main sponsor, find Standard Chartered at the Soccerex Seminar Lagos, pills 27-28 September, apoplectic 2012.
Bruce Bundrant, Head of Partnerships, Liverpool FC and Simon Mould, Head of Sponsorship, Group Corporate Affairs, Standard Chartered, will give their insight into how the sponsorship deal is structured and how each party works to maximise the relationship.
Standard Chartered became Liverpool FC’s main sponsor in 2010, signing a 4 year deal – the largest commercial partnership in Liverpool’s history. The international bank is listed on the London and Hong Kong stock exchanges as well as the Bombay and National Stock Exchanges in India and operates primarily in Asia, Africa and the Middle East. The sponsorship of Liverpool allows them to use the club’s international popularity to raise its brand awareness in these key markets.
Speaking on his involvement in the Soccerex Lagos Seminar, Simon Mould said: ”I am very excited to be a part of the inaugural Soccerex event in Lagos. West Africa is a key market for Standard Chartered and this event will be a great opportunity for us to further develop our business network there.”
Bruce Bundrant commented: “It’s always a pleasure to be speaking alongside Standard Chartered. We are very proud of the relationship and I look forward to sharing our story with the audience at the Soccerex Seminar Lagos.”
Simon and Bruce will be part of a Conference line up that will look at the development of football in West Africa, focusing on the key issues affect the football in the region and best practice in the different areas of football business such as sponsorship, player transfers, sports marketing and stadia design. Some of the other names confirmed to speak include David Dein, George Weah and Kwesi Nyantakyi, Head of the Ghanaian FA and Seyi Akinwunmi, Chairman of Lagos State Football Association.
For more information on the Soccerex Seminar Lagos please go to www.soccerex.com/lagos.