English Premier League soccer giant Arsenal has posted a loss of over US$4m for the six months through to November 30 after reporting a decline in property income and player sales.

Having failed to end a six-year streak without a trophy after losing to Birmingham City in Sunday’s League Cup final, The North London club, revealed that turnover had fallen year-on-year from $320.2m to $195.2m for the six-month period.

The half-year figures indicated that property sales had decreased by $120.5m after the sale of 50 apartments on the site of the club’s former Highbury stadium in comparison to 261 sales the previous year.

Additionally, the club reported a substantially reduced profit from player sales of $6.5m, with no big names having departed, compared to over $55m the previous year when after the big-money departures of Emmanuel Adebayor and Kolo Toure to Manchester City.

The latest figures show that the club has $178.9m in cash reserves, while net debt at November 30 was $239.75m. The loss of around $4m was a sizeable drop from a profit of $47.5m a year earlier.

Arsenal CEO Ivan Gazidis spoke of the report: “Last year we had some tremendous numbers pushed by property sales and also the sale of a couple of big players. This year we don’t have those one-offs. Rather than seeing players leave we’ve actually invested in the squad.”

Arsenal chairman Peter Hill-Wood said the club’s financial situation was “robust”.

The London 2012 Organising Committee (LOCOG) have announced that a London-based design studio has been appointed to design the Olympic and Paralympic Torches.

The torch, which will be used for the 70-day Olympic Torch Relay, when 8,000 Torchbearers will carry the Olympic Flame across the UK ahead of the Olympic Games Opening Ceremony, with designers Edward Barber and Jay Osgerby having been chosen to design the Torch.

Sebastian Coe, Chair of LOCOG said: “The Olympic Flame will literally shine a light on inspiring people, places and 2012 Games projects and programmes right across the UK as communities begin their Olympic celebrations with the Torch Relay.

“95 per cent of the UK population will be within a one hour journey time of the Olympic Torch Relay and we are now developing the Torch which will be one of the key visual icons of the London Olympic Games.”

Based in Hackney, less than four miles from the Olympic Park, the designers were selected by LOCOG and the Design Council after a competitive tender process last year.

They are also working on design aspects for the Paralympic Torch Relay that will take place between the close of the Olympic Games and the start of the Paralympic Games in August 2012.

Boss of Formula One’s Red Bull Racing team, Christian Horner has admitted it will be difficult to fit the recently postponed Bahrain Grand Prix into the season calendar after its cancellation last week. 

The country’s Crown Prince called off the race due to civil unrest and human rights protests taking place in the region, after Formula One chief Bernie Ecclestone left the decision to him. 

The Bahrain Grand Prix was scheduled to open the 2011 season on 13th March, but the Australian Grand Prix will now take centre stage two weeks later. 

No decision has been made on a new date for Bahrain, or indeed, whether there will be a Bahrain Grand Prix or not and Horner stated: “It will certainly be a challenge to accommodate, but nothing is ever impossible. It’s a very busy calendar this year. Already now, at the end of November, we’ll have finished 19 races”. 

There was however, no problem from Horner about the decision to postpone the start of the new season with the Red Bull boss adding: “Obviously the country’s got bigger issues than a Formula 1 race at the moment. It was only right and appropriate to postpone”.

Sepp Blatter, the president of world soccer’s governing body FIFA, says that the organisation has reserves of US$1.2bn after last year’s successful World Cup in South Africa.

Blatter told African football administrators that the financial results has increased from those of the previous 2006 World Cup hosted by Germany. He said more details of its success will be published next week in FIFA’s annual report.

The figure has seen a rise of $140m after FIFA began the World Cup year with reserves of $1.06bn.

Blatter was opening the Confederation of African Football assembly where he said the continent should be proud of organising the World Cup and said it had helped Africa gain pride and confidence.

The 13th edition of the Sports Merchandise Exhibition (SMEX), set to take place at Wembley Stadium on Monday 14th March, is shaping up to be biggest yet.

In keeping with tradition, SMEX 2011 will continue to provide the very best platform from which to find brandable products or services to increase the merchandising opportunities within any sporting club.

With over 120 manufacturers and distributors exhibiting at the event, combined with nearly 700 key decision makers and buyers from over 22 sports, SMEX 2011 is a unique opportunity to meet face-to-face and see the very latest innovative merchandise products and services available today.

The event has broken all previous records with 1,000 ticket requests to be at Wembley Stadium this March.

From the Premier League finest clubs down to the important grassroot teams, this year’s Sports Merchandise Exhibition is proving the place to be. If you are looking for:

• * Branded Merchandise
• * Corporate Gifts
• * Retail Products
• * Promotional Ideas
• * Give Away Gifts
• * Staff uniforms
• * Hospitality Products

Or are in charge of:

• * Increasing Revenue
• * Marketing
• * Increasing fan interaction
• * Security Systems
• * Retail Development
• * Buying the mascot costume

You should be at the show.

To request your free ticket please visit www.smexevent.com

If you have any questions regarding the show, please call SMEX on +44 (0)20 7798 8500

The Soccerex European Forum have announced that the Italian FA, medicine Federazione Italiana Giuoco Calcio, will be giving a special presentation at this year’s event, 30-31 March, Manchester.

The presentation is titled “Development or innovation- which strategy fits best for the future of a modern FA?” and will feature a presentation by Michele Uva, Chief Development Officer, Italian FA, on the strategic options open to an FA in the modern football environment.

Michele, former Lazio and Parma GM, stated: “With so many of the football world in attendance, Soccerex is the ideal place for us to discuss the future of modern FA’s. It will also provide us with the opportunity to network with the many federations, leagues and clubs in attendance.”

The announcement comes ahead of the final price deadline for the event this week, the last chance for delegates to receive a discount on what will be an exciting two days.

Recent announcements made in the last fortnight have already confirmed a hugely strong line-up including brands such as Nike, Konami, Facebook, UEFA, Adidas, Intersport, Warned Bros and many more, as well as the announcement that the legendary former Manchester United and Manchester City striker, Denis Law will be opening the event.

The exciting conference agenda covers topics such as the success of the German football model, financial equality, commercial challenges to differing sized clubs, the use of technology in football, digital media and fan interaction, sponsor and rights holder relationships, and Eastern Europe’s upcoming tournaments and market development.

Leading sports marketing agency Sportfive has appointed Shaila-Ann Rao, formerly of French broadcaster TF1, as the chief operating officer of the company’s International Business Unit, based in Geneva.

Rao will begin her role at Sportfive from the March 1 after building up an impressive track record in the media business. During her 12 years at leading French commercial broadcaster TF1 she actively participated in and led the acquisition of rights to key sports properties in football, rugby and Formula One.

Rao will now be responsible for managing legal, compliance and quality in her new role, and will be involved in the strategic planning of the International Business Unit and its future acquisitions.

Chief executive of Sportfive International, Vincent Tong Cuong stated: “We are delighted to welcome Shaila-Ann on board. I have every confidence that she will use her vast experience to add great value to our international business.”

The Board of Control for Cricket in India Wednesday released the schedule for IPL Season 4, which will see last year’s winner Chennai Super Kings taking on Kolkata Knight Riders in the first match at M.A. Chidambaram Stadium, Chennai on 8 April.

IPL season 4 will have ten teams playing a total of 74 matches at 13 venues over 51 days, which will run till 22 May, when the grand finale will be held.

As reigning champions, Chennai Super Kings have the right to host the Opening match of the season, and to provide the venue for the Final.

In other news, the newly-formed IPL franchise known as Team Kochi have unveiled their new identity as the Indi Commandos, revealing their new team logo in the process.

That was the title the franchise first uploaded on its official Facebook page. The name the franchise had initially posted had neither state nor city moorings.

A second posting was the released which read: “The full name of the Kochi IPL page is “INDI COMMANDOS KERALA!” The earlier mentioned name was just for your immediate information! “

The franchise explained the thought behind the naming, stating: “‘INDI’ stands for an independent Indian cricket team that will go ahead to win a billion hearts. ‘COMMANDOS’ stands for an elite fighting squad, renown for attacking with speed, stealth and deadly power.”

President of the Union Cycliste Internationale (UCI), cycling’s world governing body, Pat McQuaid refused to comment on the recent decision to clear Alberto Contador, Spain’s three-time Tour de France champion of doping charges.

The case could well drag on four several months if taken to the Court of Arbitration for Sport (CAS) and McQuaid stated: “I can’t – and don’t want to – give a personal opinion until the whole affair is finished, and it’s not finished yet.”

The Royal Spanish Cycling Federation (RFEC) cleared Contador of doping allegations after the Spaniard tested positive for the banned substance Clenbuterol upon winning last year’s Tour de France.

Last month, the RFEC’s Disciplinary Committee proposed a one-year suspension but Contador has consistently maintained his innocence, claiming the substance was in some contaminated meat, and appealed, successfully, and the ban was lifted.

But the UCI and the World Anti-Doping Agency (WADA) both have the right to appeal themselves against that decision, in which case the CAS will rule.

McQuaid added: “We still have to get the documents from the Spanish federation about their decision not to sanction Contador translated, and then we’ll discuss it with WADA.

“We’re yet to receive the full documentation, but once we get that we’ll have 30 days to decide whether we appeal or not.”