Inaugural STA Start Up Awards Winners Announced

The winners of the inaugural STA Start Up Awards have been announced on iSportconnect.

Judges on the awards panel, which included MD for Microsoft Startups, Warwick Hill, considered dozens of entries from around the world.

The event, which recognises new tech businesses, was split into 12 separate categories.

Successes included Find a Player for ‘Best Startup App Company’, SeatServe for ‘Best Sport Commerce’ and REFSIX for ‘Best Wearable’.

For more details on these and the rest of the winners from the STA Start Up Awards, click on the video below:

Comcast Launches Rival £22bn Sky Takeover Bid

US cable operator Comcast has made a formal £22bn ($30.7bn) bid for Sky that values the UK broadcaster at £12.50 ($17.43) a share.

It’s reported the move threatens 21st Century Fox’s attempts to take full control of the pay-tv group.

Rupert Murdoch has already agreed to buy the 61% of Sky it does not already own – an offer worth £19bn ($26.5bn).

Sky said it was withdrawing its recommendation for the Fox bid following Comcast’s proposal.

Sky shares closed 3.4% higher at £13.59 ($18.95) on Wednesday, suggesting a bidding war for control of Sky could begin. Disney, which struck a $66bn ($92bn) agreement with Fox four months ago, could also make a play for Sky.

Comcast say its bid came with a series of commitments on Sky ownership and UK investment which includes a 10-year commitment to Sky News.

Comcast is already America’s largest provider of cable and broadband with 29m customers.

Germany Submits Bid To Host Euro 2024

The German Football Association (DFB) has officially submitted its bid to host the 2024 European Championships.

President Reinhard Grindel handed over the bid documents to UEFA on Tuesday, alongside bid ambassador and former Germany captain Philipp Lahm.

The DFB declared its interest to host the tournament in March last year, and has submitted its dossier ahead of the 27th April deadline.

Grindel said of the proposal: “We are submitting an excellent bid concept for a perfectly organised tournament, which offers a great opportunity for UEFA to further develop European football. UEFA Euro 2024 staged in the heart of Europe will enable all of the participants to be given the best possible support by their fans.”

Germany have won the Euros three times and last hosted the competition in 1988.

STA Start Up Awards Only On iSportconnect!

The winners of this year’s STA Start Up Awards in London are set to be announced –  and you can get a ‘virtual seat’ and watch events unfold, right here at iSportconnect.

The prestigious London-based ceremony, which celebrates new tech businesses, will be broadcast via live stream, only iSportconnect from 12 noon tomorrow (26th).

The STA Start Up Awards is part of the annual Sports Technology Awards, which has been running since 2014.

Yahoo Sponsors Sports Technology Awards

Yahoo Sport is the new headline sponsor of the UK’s annual Sports Technology Awards.

Renamed as the Yahoo Sports Technology Awards, this year’s London-based event will take place on May 3rd.

The US tech giant will sponsor both this and next year’s ceremony.

Nicholas Petche, Editor in Chief, Yahoo UK, said of the partnership: “The Awards reveal worldwide sports innovations unlike any other body and this relationship ensures we are uniquely positioned to inform our millions of Yahoo Sport readers of these game-changing technologies.’

Highlights of next week’s award ceremony will be broadcast on iSportconnect.

The Stars Group To Buy Sky Betting & Gaming For £3.4BN

The Stars Group is set to acquire British-based Sky Betting & Gaming (SB&G) for a reported £3.4bn (€3.88bn).

It follows the decision by Sky Betting & Gaming’s majority owner CVC and partner Sky to sell to the Canadian online gambling giant.

According to reports, the acquisition will create the world’s largest publicly listed online gaming company.

Sky Betting & Gaming has some of the UKs best known betting brands including Sky Bet and Sky Vegas.

An announcement confirming the deal could be made as early as today (Monday).

Premier League Clubs Post Record Revenues Of £4.5BN

English Premier League football has returned to profit and reported record revenues of £4.5bn (€5.13bn) for last season.

According to Deloitte, clubs collectively reported £500m (€570m) in pre-tax profit for the 2016/17 campaign.

The analysis found that wage costs rose by 9% to £2.5bn (€2.8bn), a much lower growth rate than the 25% hike in revenues.

The main factor for the overall growth was the Premier League’s three-year TV deal, which kicked in last season. A record £5.13bn (€5.85bn) was paid to the league by Sky and BT for the 2016-19 UK broadcast rights.

However, only £4.464bn (€5.09bn) was brought in for the latest domestic rights auction for the 2019-2022 cycle.

Dan Jones, head of Deloitte’s Sports Business Group, said of the findings: “Despite the lack of growth in domestic broadcast deals announced to date, we still expect to see overall revenue growth in the coming seasons, and if this is complemented with prudent cost control, we expect that pre-tax profits will be achieved for the foreseeable future.”

Is Financial Fair Play Actually Working?

Since the introduction of Financial Fair Play (FFP) in 2010, it’s been fiercely debated in footballing circles whether the UEFA regulations have made any difference to the game. It seems almost every year at least one major club’s transfer activity comes under close scrutiny.

Only last summer, Paris Saint-Germain’s signing of Barcelona striker Neymar for a world record fee of £200M (€228M) triggered cries of foul play from rival sides. Monaco’s Kylian Mbappe also joined the Ligue 1 giants for £156M (€178M). Few onlookers believed that the Qatari-owned club met the UEFA FFP requirements, designed to restrict financial losses and stop clubs spending beyond their means.

UEFA launched an investigation into PSG a few weeks later, but little else has happened since.

So is Financial Fair Play actually making a difference to football teams across Europe?

UEFA’s MD for Financial Sustainability & Research, Andrea Traverso, spoke to iSportconnect at the recent Finance Masterclass in London. He believes Financial Fair Play is making a difference:

Despite its questionable progress, other sports are watching on with interest. Mitesh Velani, CEO of Saracens RFC, told iSportconnect that rugby’s growing wealth could mean a similar system being implemented into their game:

Ed Hepworth is former Vice President of Strategy & Operations at NBA. Speaking at iSportconnect’s Finance Masterclass, he explained that creating a level financial playing field, especially for football clubs, is easier said than done.

Financial Fair Play has certainly altered the landscape of European football in recent years. However, it remains to be seen if the UEFA regulations will make much difference to elite club spending, or result in achieving the ultimate goal of a level playing field for teams cross the Continent.

 

IFs Warned To Pick Partners Wisely – SportAccord 2018

International Federations cannot afford to link up with commercial partners that conflict with their ethical outlook, delegates heard during a lively SportAccord Summit debate in Bangkok on socially responsible marketing.

Caroline Baxter Tresise, from the Sector for Social and Human Sciences at UNESCO in Paris, warned IFs that failing to apply rigorous due diligence of potential partners and their industries can lead to dire long-term consequences.

“It is important for the smaller Federations to understand that the long-term impact can be devastating,” she said. “You need to evaluate brand sponsorship case by case so it does not conflict with your IF’s ethical statement. Public policy has a huge role to play here, as well as the IOC.”

However, Edelman’s Director of  Public Affairs, Craig Woodhouse, called on sports to take the lead in setting the right example. “People want business to lead change rather than wait for the change to be led by the government,” he said. “It can never be enough to say, ‘we obey the rules’. If you want to take the consumer with you, you have to go further; you have to lead the way.”

This year’s SportAccord conference is due to end today (20th).

Wenger To Leave Arsenal At The End Of The Season

Arsene Wenger is to leave Arsenal at the end of the season, bringing the curtain down on a 22-year reign as manager.

The 68 year-old will depart the English Premier League club with a year still left on his contract.

The Frenchman led the Gunners to three Premier League titles and seven FA Cups, including the Double on two occasions in 1998 and 2002. However, they lie sixth in the table and are due to miss out on Champions League qualification for the second successive year, unless they win the Europa League.

“I am grateful for having had the privilege to serve the club for so many memorable years,” said Wenger. “I managed the club with full commitment and integrity.

“To all the Arsenal lovers, take care of the values of the club.”

The search for a successor to Wenger is now underway, with an appointment due as soon as possible.

According to this year’s Deloitte Football Money League, Arsenal are the 6th wealthiest club in the world, with recent revenue figures of £487.6M.