Adidas announced their financial figures for the first half of 2011 with revenue increasing a massive 14%, prostate a substantial increase of 10% on a currency-neutral basis in the second quarter of the year alone.

Europe saw them have a huge leap in revenue where sales went up 21% as a result of strong increases at both Adidas and Reebok.

Herbert Hainer, capsule Adidas Group CEO, sale said: ‘After outlining our strategic vision for the company through to 2015 late last year, we have wasted no time and come out of the starting blocks in typical adidas Group fashion – fast and focused’. 

‘No matter which way we break down our results – by segment, by region or by brand – all facets of our business are excelling’.

The Adidas Groups gross margin increased 0.2 % to 49.2% (2010: 48.9%) in the second quarter as a larger share of higher-margin retail sales as well as a more favourable product and regional sales mix more than offset an increase in input costs.

This led to their Group gross profit to increase by 6% to $2.143bn while other operating expenses as a percentage of sales decreased 60 basis points to 43.3% compared to 43.9% the prior year, primarily due to lower marketing expenses.

‘No matter which retailer I speak to, or which market share statistic I read, our product sell-throughs are stronger than they have ever been. Despite severe external pressures from currency volatility and rising commodity prices, we were able to defend our profitability as a result of our unparalleled strength in innovation and design as well as supply chain excellence,’ added Hainer. 

‘After the strong first half performance, we are on our way to record sales and earnings in 2011. This is all the more notable as various currencies have been weakening versus the euro, which negatively impacts our financial results in the short term’.

(Source: BBC Sport):None of the players has received the $63,000 promised to each member of the Black Stars because of a procedural dispute with the Bank of Ghana.

The central bank is insisting on paying the players by depositing money in their individual accounts.

But the players are up in arms because they want to be paid directly in cash as has happened in the past.

“The Bank states it serves customers in accordance with the Bank’s operational guidelines and that it is against prudent operational practice to make payments to individuals in excess of $10,000 (ten thousand dollars) in over-the-counter transactions,” the Bank of Ghana said in a statement.

The statement went on: “Accordingly, the Bank has informed the Ministry of Youth and Sports that the Bank would pay the foreign exchange amounts in question either to the bank accounts of the Black Stars players, or by cheques drawn on the Bank’s external account.

“This is in line with international best practice and with various security considerations.

“The Bank has therefore requested the Ministry to furnish it with a list of the names of the players and the respective amounts to each player to enable it to make the payments.

“The Bank is still expecting a response from the Ministry.”

The central bank was forced to issue the statement after accusations last week that it was responsible for the delay in the payment of the players bonuses.

The bonus row overshadowed Ghana’s last African Cup of Nations qualifier against Sudan.

A deadline of 15 October set by deputy Sports Minister Nii Nortey Duah passed without a single penny being paid out to anyone.

Aviva Premiership team Wasps have today announced the acquisition of a 50% interest in the Ricoh Arena with immediate effect.

Wasps become the joint owners of one of Europe’s largest multi-purpose venues having acquired a 50% interest in Arena Coventry Limited from Coventry City Council.

Wasps will play their first home game at the Ricoh Arena in December 2014 – either Castres or London Irish – but will continue to play home games at Adams Park in High Wycombe until then.

Nick Eastwood, ampoule Wasps Chief Executive Officer, commented: “Today’s announcement is a watershed moment in the history of Wasps and the professional game. It will help us realise our ambition to re-establish ourselves as one of the best teams in Europe and will guarantee the long term success of the Club.

“Today we are breaking the mould of how a professional rugby club operates by acquiring a thriving, sustainable business, as well as one of the best, conference, exhibition, sporting and entertainment arenas in Europe. Ricoh Arena is a world class venue with a multitude of outstanding facilities, including a 32,000 stadium, 4 star hotel, 60,000 ft² exhibition hall, 20,000 ft² conferencing facilities and one of the UK’s largest casinos. 

“The revenue from these facilities, combined with Wasps existing revenues, will result in Wasps immediately becoming the highest turnover rugby club in the Aviva Premiership.

“Creating long term financial stability will allow us to focus on the main job of producing high quality rugby of which our supporters and players can be proud and will help to recruit some of the best players in the world.

“We fully appreciate this move will unsettle many of our supporters and I would like to stress that this decision has not been taken lightly. The reality of our situation is clear – less than two years ago Wasps was just hours away from going out of business. It is only thanks to our current owner Derek Richardson stepping in that we are here today.

“Thanks to his support we have gone from strength to strength, returning to the top competition in Europe and competing and winning against some of the best teams in world rugby.

Eastwood added that Wasps will try and work with Coventry City FC to keep the club at Ricoh Arena. 

“There has also been much speculation in media outlets and social media recently about how this move will affect the future of Coventry City Football Club and Coventry RFC so I would like to address this and set the record straight. 

“We are delighted to see Coventry City Football Club back at the Ricoh Arena and this is where we want them to remain. We understand there may be concern from Sky Blues fans about our arrival and what this might mean for their Club. We are keen to make this work for everyone. We look forward to a long and fruitful relationship with the Sky Blues.

Jacky Isaac, Arena Coventry Limited Interim Chief Executive Officer, commented: “We’re delighted with the news that the Ricoh Arena is now home to Aviva Premiership team Wasps. The welcome return of CCFC and the imminent arrival of Wasps mean the Ricoh Arena has truly realised its potential as home for top flight sport.

“There are a number of stadiums in the UK that are home to both rugby and football teams and the Ricoh Arena is an obvious choice given its history around hosting both sports, including Wasps when they played here as part of the Heineken Cup in 2007 and attracted a near capacity crowd.

“We look forward to welcoming Wasps fans to the City and to the Ricoh Arena and we really hope that they enjoy this state of the art venue with its many attributes.”

Wasps Sign Two New Sponsors

To coincide with today’s announcement Wasps can also reveal two long-term commercial partnerships with Land Rover and EMC.

Phil Popham, Group Marketing Director at Jaguar Land Rover, added: “Today’s announcement is not only an important addition to Land Rover’s growing rugby sponsorship portfolio, but it’s a significant increase in our investment within the Coventry area. 

“This new sponsorship complements our long-term support of Premiership Rugby and we remain committed to our long-standing relationship with Coventry Rugby Club.”

Leading cloud computing company EMC return as a Wasps partner having previously sponsored the Club between 2009 and 2012. As part of the deal EMC will feature on Wasps home and away kits and enjoy numerous commercial rights.

James Petter, Senior Vice President and MD UK & Ireland at EMC, commented: “This is clearly an exciting time for Wasps and EMC is privileged to be part of it. The team has a very clear strategy for success and we are elated to be working with them moving forward. Our expertise in data is going to contribute to the success of Wasps both on and off the field and we can’t wait to get started.”

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South Korean automobile manufacturer Kia have launched a dual-language World Cup marketing campaign titled “For One Month, Let’s All be Fútbol Fans,” with supermodel Adriana Lima.

The initiative, which includes TV, print, digital, social, point-of-sale and radio components as well as Kia serving as the presenting sponsor of pre-match shows on ABC and ESPN, marks the second time the brand and Lima have teamed up following her memorable role in 2012’s “Drive the Dream” Super Bowl commercial.

The three 30-second ads were created by David & Goliath and are available now for viewing at Kia.com/FIFA, and will make their broadcast debut when group play begins on June 12.  Beyond the English- and Spanish-language versions of the spots, additional footage and content is available at Kia.com, and campaign extensions include elements on Facebook, Twitter, Instagram, Vine, Google+ and Pinterest.

“Soccer’s popularity in the U.S. is growing rapidly and as Official Automotive Partner of the World Cup we have a unique platform to showcase two of Kia’s most popular vehicles to the sport’s passionate and diverse fan base across the country,” said Michael Sprague, executive vice president of sales and marketing, KMA. “The reaction to Adriana Lima’s appearance in ‘Drive the Dream’ was overwhelming, and with the World Cup being staged in her home country of Brazil and her love for the game it was a natural fit to partner again and add a bit of glamour and humor to our ‘fútbol’ campaign.”