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Accumulative Deficit of USD158m for Ligue 1 Soccer Clubs
The president of the French Football League (FLP) Frederic Thiriez has revealed the need for calm after a report by the league’s financing authority, the national directorate of management control (DNCG), unveiled worrying financial results for the country’s top soccer clubs.
In its annual report for the year through to June 30, 2010, the DNCG announced a cumulative deficit of nearly US$180m for clubs, with Ligue 1 outfits accounting for $157.8m of the total.
The losses for the 20 clubs in the top flight were reduced to $157.8m after write-downs by some shareholders, but Thiriez is concerned that the deficit has increased from $78.9m in the previous financial year.
In an interview with Reuters, Thiriez stated: “The accounts are not good. However, it is necessary to keep our heads. This report will be submitted to the union so that it can make its observations.”
Top 10 Richest Owners in Sport
Forbes have released a list detailing the top 10 richest owners in sport, led by Indian Premier League (IPL) Mumbai Indians owner Mukesh Ambani, owner of the behemoth conglomerate Reliance Industries, his share of the business empire built by his father that he split with his brother Anil.
Ambani is the ninth richest person in the world, with a net worth of US$27bn way ahead of second placed Russian billionaire Mikhail Prokhorov. As owner of the National Basketball Association’s (NBA) New Jersey Nets, Prokhorov is 32nd on Forbes’ list of the world’s wealthiest people with a net worth of $18bn
Third on the list is the only owner of an English sports club and another Russian in Chelsea owner Roman Abramovich. 53rd on the world’s rich list, Abramovich has a net worth of $13.4bn.
The first of five Americans in the top 10 is Paul Allen, Microsoft billionaire and owner of NBA’s Portland Trail Blazers. Allen is followed by the controversial prime minister of Italy and AC Milan owner Silvio Berlusconi who is the 118th-richest person on the globe with net worth of $7.8bn.
6th to 10th list as follows; Philip Anschutz (LA Kings/$7.5bn), Micky Arison (Miami Heat/$5.9bn), Richard DeVos (Orlando Magic/$4.2bn), Charles Dolan (New York Knicks, Rangers/$3.3bn), Joe Lewis (Tottenham Hotspur/$3.2bn)
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Qatar Launch Sports Security Group to Advise Major Events
The Middle Eastern gulf nation of Qatar launched a new non-profit organisation yesterday, tadalafil March 9, aimed at sharing information about security at major sports events around the world and helping them prepare to host the 2022 FIFA World Cup.
Helmut Spahn, a former German policeman who was in charge of security at the 2006 FIFA World Cup, will head up the International Centre for Sport Security (ICSS) operating under an Advisory Board that includes Lord John Stevens, Peter Ryan and Rick Parry, former chief executive of the Premier League and Liverpool
The ICSS idea came Mohammed Hanzab, president of the organisation and Royal Air Force-trained former Colonel in the Qatari Air Force.
Hanzab stated: “No-body has really looked into this really seriously.
“We are concerned not to lose the people who were on board for previous events.
“In this centre our primary objective is to take the knowledge and share it with the world of sport, including federations, Governments, organising committees and event organisers.”
Hanzab went on to promise that it will be independent and not affiliated to any organisation, stating: “We want to encourage them to interact and to seek innovative and research.
“The message from Qatar is that we want to contribute.
“We are used to organising big international events here in Doha.
“We will try to get the best talent to work for the ICSS to show that we are serious.”
Bahrain GP Organisers Given May 1 Deadline Decision
Bahrain Formula One grand prix organisers have been given until May 1 to decide whether or not they will be able to stage the race later in the 2011 calendar after postponing the scheduled season opener over safety fears.
The race was originally set for coming Sunday, viagra 100mg but the Kingdom of Bahrain last month withdrew from hosting the opening round due to the instability caused by a political uprising in the country. The opening race of the campaign will now take place on March 27 in Melbourne, doctor Australia.
Following a meeting of the World Motor Sport Council (WMSC) in Paris on Tuesday, viagra March 8, the FIA, motorsport’s governing body, released a statement to confirm that the Bahrain Motor Federation has been instructed “to communicate by May 1 at the latest if the Bahrain Grand Prix can be organised in 2011”.
Formula One Management (FOM) chief executive officer Bernie Ecclestone has previously indicated his willingness to seek a new date for the Bahrain race, and last week he said: “If they want the race then we want to be able to supply it for them. If there is peace in Bahrain, we will be there.”
A release on the FOM website stated: “On May 1 Bahrain’s Crown Prince – HRH Prince Salman bin Hamad Al-Khalifa – is expected to inform the FIA about the possibility of hosting a race in the country, and then together with Formula One Management, the FIA will make a final decision about a new slot for the race during the 2011 season.”
The statement added: “Formula One group CEO Bernie Ecclestone had hoped a new date could be settled on before the season got underway, but given the circumstances, it was mutually agreed that a final decision would be made in May.”
Three County Cricket Clubs Reveal Annual Losses
Three English County Cricket Club’s announced annual losses yesterday, March 8, for 2010 with Kent posting the highest operating loss, despite making an overall profit due to the sale of land at their St Lawrence Ground home in Canterbury.
The club’s overall profits of £3,535,426 (US$5,727,895), overshadowed concerning operating losses of £595,000 ($964,000). This was majorly affected by a decrease of £243,000 ($393.715) on gate receipts in 2010, a drop of 36 per cent.
Club treasurer Simon Philip stated: “There is no doubt that the World Cup and the lack of a cricket narrative last summer, with the major Test series not starting until late July, had a huge impact.
“With cricket off the back pages throughout, the low profile of the game in the nation’s sporting consciousness in 2010 had a direct effect on the more casual cricket fan.”
The other two sides to have announced losses yesterday were Gloucestershire and Derbyshire who posted post-tax losses of £216,000 ($350,000) and £187,037 ($303,000) respectively.
Gloucestershire treasurer Tony Elgood said: “We clearly cannot continue to run the club at this level of loss.”
He added: “This is the second year running that the club has had a significant deficit.
“We have set a positive budget for the current year and we will be making every effort to ensure we deliver against this budget.”
While Derbyshire chairman Don Amott said: “With the World Cup swamping our FP t20 campaign and new fee payment regulations, 2010 has been a difficult year.”
Arena Racecourse Operator Fears Tough Year Despite ’10 Profits
order Helmet, Freesans, sans-serif; line-height: 18px; margin-top: 0px; margin-right: 0px; margin-bottom: 18px; margin-left: 0px; font-size: 1.077em; text-rendering: auto; clear: left; padding: 0px;”>Arena Leisure, the UK Horseracing course operator, has posted a rise in underlying profits, but says it expects challenges ahead as funding from bookies is cut.
Amongst other leisure interests, Arena operates seven courses in the UK – Windsor, Doncaster, Southwell, Wolverhampton, Folkestone, Worcester and Lingfield Park.
Last year, the firm saw a 10.4 per cent rise in adjusted pre-tax profits to US$8.74m.
However, chairman David Thorpe said the yield from the levy on bookmakers was estimated to fall this year, stating: “The yield from the levy is estimated to fall to £64.8m ($104.9m) in 2010-11 as a result of the movement of internet and telephone betting offshore, the impact of overseas betting operators and betting exchanges.
“The levy is fundamental to the support of horseracing in the UK and it is our belief that all parties should seek to maintain it in a modernised and restructured form.”
During 2010, Arena staged 352 horse racing fixtures and said its average attendance had increased by 4.2 per cent to 1,800 over the period.
Ilitch Back in for USD360m Takeover of NBA’s Pistons
Forbes sources state that US billionaire Mike Ilitch, who walked away from buying the National Basketball Association’s (NBA) Detroit Pistons a few months, is back in contention for a buyout after the exclusive negotiating period for Tom Gores to takeover the side ended last week with no deal.
It had been previously reported that the speculated US$420m deal with Gores was being held up by how much of the purchase price would be paid upfront though sources now believe that the billionaire became increasingly concerned with the team’s evaporating revenue.
The Detroit News reported that owner Karen Davidson said the other day that there is another prospective bidder, thought to be Ilitch, for the team should she and Gores fail to come to terms.
Ilitch is now looking to buy the team and the Palace of Auburn Hills for right around $360m, a full $60m less than the deal with Gores was being pegged at.
Annecy ’18 Bid Gets USD2m Support from Public Sector
The bid of French city Annecy to host the 2018 Winter Olympics has received a public sector funding boost from the Caisse des Depots after the financial institution, discount which acts on behalf of central and local governments in France, pledged US$2.09m in support, and also the French National Olympic and Sport Committee.
The Caisse des Depots will support Annecy 2018 financially and operationally through the final phase of the bid’s campaign, with the International Olympic Committee scheduled to decide on July 6 whether Annecy, PyeongChang in South Korea or Munich in Germany should stage the Games.
The deal represents a further funding boost for the bids CEO Charles Beigbeder, who was installed in January as a replacement to Edgar Grospiron who resigned following a dispute over a perceived lack of financial support for the event.
The financial institution’s CEO, Augustin de Romanet stated: “This partnership is an illustration of the Caisse des Depots’ drive to provide effective and sustainable support for ambitious projects. In addition to providing funding and additional staff, our support takes the shape of engineering know-how, especially in the area of protecting the local environment and its heritage through sustainable development, one of our group’s core strategies.”
French Sports Minister Chantal Jouanno added: “Annecy 2018 is a project for the future. The Caisse des Depots, tasked with serving the public interest and supporting sustainable development in our regions, is a natural partner for this bid. Its commitment has made a major contribution to the new dynamic driving the bid since January. Each time a major group joins forces with us, we send a strong signal to the International Olympic Committee.”
Underground Consider 24-Hour London ’12 Operation
Consideration is being taken by London Underground bosses to run the Tube around the clock during the 2012 Olympics, it has been revealed.
Transport for London (TfL) has established a working party to plan staffing for the proposed scheme with the Games expected to place extra strain on the Tube, which already handles three million passengers every day.
The main stumbling block appears to be that unions say they expect a battle on overtime pay for night staff, with the National Union of Rail, Maritime and Transport Workers (RMT) general secretary Bob Crow stating: “The hard fact is that there is no agreement with the unions in place for operating hours, volume of service, staffing levels or payments for next year’s Olympics.
“Not only that, but the continued job cuts and attacks on maintenance schedules mean that the Tube is short of capacity and prone to regular breakdowns at the best of times, let alone when we’ve got another million people to shift around the city.
“The mayor can’t keep London moving now, let alone for the Olympics in 2012.”
However, a TfL spokesman added: “We are on track to deliver all transport improvements well ahead of the Games and are confident of supporting a fantastic London 2012 Games and keeping London moving.
“We are now drawing up our detailed transport plans for the Games. However, no decisions have yet been taken about the Tube’s hours of operation during 2012.”