Stanford Files USD7.2bn Countersuit Against US Prosecutors

Allen Stanford, the Texan billionaire accused of running a scheme that persuaded investors to buy certificates of deposit from Stanford International Bank, located in Antigua, has filed a countersuit against US prosecutors, accusing them of depriving him of his constitutional rights.

Stanford has been in custody since June 2009 and is now seeking US$7.2bn in damages from the SEC and FBI in a lawsuit which claims prosecutors “undertook illegal tactics” in their investigation of Mr Stanford’s alleged pyramid scheme that they claim defrauded investors of $7bn.

Mr Stanford was ruled unfit to stand trial last month by US federal judge David Hittner over concerns of his ‘mental capacity to assist his lawyers’. He has pleaded not guilty to fraud, conspiracy and obstruction.

Mr Stanford rose to prominence in the UK and the Caribbean for his lavish sponsorship of cricket and in 2008, he bankrolled a high-profile $20m cricket match between England and a Stanford All-Stars team in Antigua.

IBM Sponsor Cricinfo’s World Cup Statistics

The world’s leading cricket website, physician ESPNCricinfo, drug  has secured IBM as sponsor of its comprehensive statistics and data coverage of the International Cricket Council (ICC) Cricket World Cup.

In addition, anesthetist IBM has been confirmed as launch sponsor of the new ESPNCricinfo iPhone and Android mobile apps. The sponsorship with IBM, which runs from February to early April and covers India, Sri Lanka, Bangladesh and Bhutan, builds on IBM’s Smarter Planet campaign, which aims to help businesses to make better decisions through the smart and efficient use of data.

The deal gives IBM a presence on some of ESPNCricinfo’s most popular pages; such as Statsguru, the site’s searchable cricket statistics database; Ask Steven, where ESPNCricinfo contributor Steven Lynch answers questions on all things cricket;  The List, where ESPNCricinfo looks at the stories behind the statistics; and, Numbers Game, an in-depth look at the ESPNCricinfo statistics database.

ESPN International vice president-digital media Tom Gleeson said: “ESPNCricinfo is delighted to be partnering with IBM.  ESPNCricinfo’s statistics section in India is expected to generate lot of interest across the sub continent during the world cup with fans searching for interesting statistics about players, venues etc. Cricket fans will have the most reliable and in depth statistics information during the world cup.”

Roar Global Takeover SJ Dent Sports Management

Career management consultancy, Roar Global has branched out into the field of sporting clients after agreeing the acquisition of SJ Dent and Co. sports management.

Roar Global currently represents entertainment industry celebrities such as Myleene Klass, Russel Watson and Kelly Brook but with the takeover of SJ Dent will add the likes of Irish rugby star Brian O’Driscoll and former sporting icons such as Martin ‘Chariots’ Offiah, John Barnes and Neil Ruddock to their client roster.

The ex-sports management company was founded by lawyer Simon Dent and also specialise in the management of young 2012 hopefuls.

Jonathan Shalit of Roar Global stated: “Sport today is an integral part of entertainment across the world and, as such, holds huge a huge attraction for global brands to who want to be associated with sporting heroes.”

Hambantota 2018 CWG Bid Paying UK Firm USD3m

The Sri Lankan city of Hambantota, pharmacy a candidate to host the 2018 Commonwealth Games are reportedly paying British firm pmplegacy, pills part of the London-based Chime Communications, at least US$3m to aid their bid for the event, according to Sri Lankan Sports Minister Mahindananda Aluthgamage.

In an interview with the Sunday Leader, Aluthgamage stated: “In order to prepare the bid documents for the 2018 Commonwealth Games and for promotional campaigns we have offered the contract to a British PR Firm pmplegacy.

“The exact amount is known to Central Bank Governor Ajith Nivard Cabraal as he is the chairman of the organising committee that handles the finances.”

According to the Sunday Leader, the money will come out of the $4.5m Sri Lanka is paying another Chime subsidary, public relations firm Bell Pottinger to boost its post-war image.

Pmplegacy, has a distinguished 25-year track record of working  on the evaluation, bidding, planning and delivery of major sporting events including the likes of the 2008 Olympics and Paralympics in Beijing, the 2010 Summer Youth Olympic Games in Singapore and the 2014 Commonwealth Games in Glasgow.

2010 – A Year in Sporting Images

By Martin Laurence

2010 was a fantastic year in the world of sports with numerous major events catching the eye and imagination of fans from around the world. The World Cup was staged in South Africa, the first World Cup to be staged on the continent. Sebastien Vettel became the youngest winner of the Formula One Driver’s championship with Red Bull team-mate Mark Webber finishing third, ensuring victory for the young constructor’s team. The likes of England and India dominated World cricket with the former winning their first Twenty20 World Cup and retaining the Ashes in the same year. Europe’s golfers overcame the American’s to regain the Ryder Cup under Colin Montgomerie’s stewardship. The Commonwealth Games were shrouded in controversy prior and since the event in October in Delhi with organisers heavily criticised in their preparations to the event.

These are just a few highlights from a memorable sporting year and here will depict the world’s major sports in images highlighting their 2010!

American Football

Athletics

Baseball

Basketball

Boxing

Cricket

Football / Soccer

Formula One

Golf

Horse Racing

Ice Hockey

Rugby

Tennis


Putin Believes Hosting Benefits will Outweigh Costs

Vladimir Putin, arthritis the former President of Russia, anabolics has stated that he believes that the hosting of the 2018 World Cup will prove a catalyst for positive societal and economic changes in the nation. In the upgrading of infrastructure of the 13 World Cup host cities, pilule an estimated US$10bn will be spent, though Putin claimed that the benefits would be far greater than the cost.

Speaking on a live TV call-in show on 16 December, Putin said: “It will have an entirely positive influence on the future of the country. All of this (infrastructure development) will be left to the people and will serve them for decades. It will facilitate a healthy way of life. There will be less crime and less drug-taking.”

Putin also admitted that Sochi may have been doomed were it not to have won the 2014 Winter Games: “I hate to say it, but maybe we would never have done it (in Sochi), but now they are getting roads, gas pipes and new electricity stations,” he added.

“When we talk about the FIFA World Cup, we are talking about 13 cities,” Putin continued. “It won’t be as grand-scale an infrastructure project as in Sochi, but it still requires a lot of work on building roads, expanding airports and train stations. There is a proposal to set up express rail services between the host cities. I have every confidence that we’ll do a great job with the World Cup.”

 

Premier Sports to Broadcast Boxing in the UK

British sports channel, symptoms Premier Sports will broadcast live Friday Night Fights and the World Series of Boxing in the UK. The Channel, health available on the Sky network, click will now make the boxing accessible, through subscription, to almost 10 million households. As of January 2011, 31 Friday Night Fight events will be broadcast live in an initial deal running for two years with the World Series of Boxing beginning prior to Christmas 2010.

Richard Webb, spokesperson for Premier Sports, stated: “Friday Night Fights are a way of life for boxing fans in America and we are thrilled to now make them available live and exclusive in the UK. It is a terrific opportunity for boxing fans in the UK to track the American boxing scene once again”.

The World Series of Boxing is a new, global team concept which will culminate in May with the finals held in Macau. The tournament is sanctioned by AIBA with the winners in each division claiming automatic qualification to the London 2012 Olympics.

Webb commented, “We have broadcast eight live fights in the last three months including Martinez vs. Williams, but on top of seeking out more monthly world class events that will grow our subscription base we wanted to provide consistent boxing to reward our loyal subscribers. We believe this move combined with the continued relationship with HBO and the developing one with promoters in America puts us in a great position to show live boxing 12 months of the year at the great value price of £6.99 per month.

“I would like to take this opportunity to thank customers who have supported us during the last three months and given us the belief that regular boxing from around the globe still has a place on UK television.”

Never mind the Debt – Feel the Revenue – Steven Falk

Debt is the single most problematic issue facing football today. Or so you may think if you read the sports & finance pages. The media and strident fans groups work themselves into a frenzy of indignation while those clubs with aspirations of playing in European competitions rush to comply with the latest UEFA Financial Fair Play regulations. These stories make good copy but they do so on a false premise. Debt is not necessarily a bad thing. Most commercial organisations can’t operate and grow without it. The key question to be answered when assessing the long term viability of a sports club is not how much debt is carried on the balance sheet, but:-

  • – what is the reason for, or purpose of the debt; and more importantly,
  • – what cash resources are available to service it

Compare the recent positions of Portsmouth FC and Manchester United. Last season, Portsmouth borrowed over £60m just to pay the salaries of players who otherwise could not have been added to the team. In the case of Manchester United, the club can accommodate their wage bill as a reasonable percentage of their growing revenues. The key to both situations is cash-flow. That is, whether there is enough cash generated through sustainable business activity to service the debt.

Another point conveniently forgotten by fans and pundits alike is that clubs who swap their debt-free PLC status for heavily leveraged buy-outs are simply exchanging one cost for another. The cost of operating as a PLC with dividends paid to shareholders, the need to employ city bankers, lawyers and PR firms to run their AGMs together can equate to the size of interest payments on the debt.

So what should sports clubs do to make sure they don’t fall into the debt trap? They should follow the advice of their grannies and not gamble on future success or spend more than they earn. Specifically, they should set a reasonable ratio of players’ wages as a proportion of club revenue (50% seems a reasonable figure) and manage within that budget. “But if we do that, we won’t be able to compete in our league”, chant the recalcitrant chairmen. Again, the answer is simple. Increase your revenue. Not every club has a global fan base to exploit, but then again how many clubs can claim to have genuinely worked their local fan base to its full potential?

There are several key revenue generating opportunities outside of the traditional ticket and hospitality activity. These are:-

– sponsorship activation – many clubs have sponsors, but how many work with them in a true spirit of partnership to ensure that both sides get real added value from the relationship? This approach will reap rewards at renewal time.

  • – affinity marketing – most football clubs offer a branded credit card but how many really understand the key profit drivers of acquisition cost, cross-sell and retention. These can be leveraged to deliver incremental revenue.
  • – CRM – well-managed customer data has a value. This can be unlocked through attracting more lucrative sponsorship opportunities or by using it sensibly to promote products and services to fans in a timely manner.
  • – membership and loyalty programmes – most clubs pay lip-service to loyalty and their fans resent being taken for granted. A well executed membership and loyalty programme can help solve both problems.
Increasing revenue is the best way to protect sports clubs against the dangers of debt. Let Star Sports Marketing help your club to identify and deliver these new sources of cash. Visit Iwww.starsportsmarketing.com and start the journey today

 

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72 1024×768 Normal 0 false false false EN-US X-NONE X-NONE Increasing revenue is the best way to protect sports clubs against the dangers of debt. Let Star Sports Marketing help your club to identify and deliver these new sources of cash. Visit www.starsportsmarketing.com and start the journey today

Australia expect less English fans for 2010 Ashes

Tourism officials are predicting a sharp fall in the number of British cricket fans heading to Australia for this winter’s Ashes series, BBC reports

Numbers are expected to be down by almost half compared to 2006, with fewer than 20,000 supporters now likely to make the long journey from the United Kingdom to watch the battle for the legendary urn.

Cricketing authorities are blaming the runaway Australian dollar and economic uncertainty.

“Unfortunately we’re not expecting as many UK visitors this time,” says Peter Young from Cricket Australia.

“The huge tidal wave of UK visitors including the Barmy Army that we had four years ago is not going to be repeated.

“The twin impact of the financial crisis and the exchange rate has meant that the pound buys so much less than it did four years ago.”

The Ashes will be the biggest sporting event in Australia this year and strong ticket sales have been reported for the first three days at all five test venues, including the much-anticipated blockbuster in Brisbane that starts on 25 November.

So, the grounds will be far from empty but those stay-away England fans will be missed.

The 2006/07 Ashes series and the one-day internationals that followed pumped $320m into the domestic economy, more than both the Formula One Grand Prix and Australian Open Tennis in Melbourne.

On average travelling England fans spent more than $10,000 during their stay, a sizeable chunk doubtless frittered away drowning sorrows during a forgettable tour that saw the tourists thumped 5-0 in the test series.

Calgary Flames signs deal with Rona

National Hockey League (NHL) team Calgary Flames have signed signed a three-year deal with home-improvement retailer Rona, it has been announced.

The partnership will include the renovation of community youth facilities as well as including permanent, camera-visible, Rona branding at home team games.

Rona president and CEO Robert Dutton said: “We know that having opportunities for children to experience the pleasures of childhood sports and activities provide tremendous advantages in life.”

Flames president and CEO Ken King added: “Financial investment is important, but it’s secondary to having the right kind of partner, the kind of people that share the values that we have and the kind of people that want to do good in the community.”

There are also suggestions Rona could take up the naming rights of the Flame’s home stadium the Saddledome too, but King said: “That’s probably not in the cards immediately. But anything’s possible in the long-term future.”