Lancashire CCC Launch First Ever ‘Cricket Bond’

Lancashire County Cricket Club, owners of Test Match ground Old Trafford, today launched the second ever retail bond in British sport – the ‘Cricket Bond’. 

The aim of the ‘Cricket Bond’ is to seek to raise £3 million towards the development of a four-star hotel at the Manchester venue.

Daniel Gidney, the chief executive of Lancashire County Cricket Club, said: “Our vision is to provide one of the best sports, entertainment and business experiences in world cricket. An attractive, contemporary hotel that will appeal to corporate visitors and private customers alike is central to this aim.”

This move follows the successful issue of the first unlisted retail or ‘mini’ bond in British sport last year by The Jockey Club.

The Jockey Club ‘Racecourse Bond’ raised almost £25 million towards the development of a state-of-the-art new grandstand, public walkways and multi-tiered parade ring viewing at Cheltenham Racecourse.

The Cricket Bond coupon offers 7 percent interest per annum made up of 5 percent cash interest and a further 2 percent in Credit4Cricket Units.

Commenting on the Lancashire CCC retail bond offer, Paul Fisher, Group Managing Director of Jockey Club Racecourses, said:

“The Cricket Bond is offering a combination of cash and rewards and has launched giving a clear rationale behind what investors’ money will go towards. That’s an approach that proved a winner for us with our Racecourse Bond last year.

“We know one of the most common and important questions potential investors ask themselves is ‘will my money be safe’, so I expect to see Lancashire CCC addressing this in their communications, emphasising this is their 150th anniversary year.”

Reflecting The Jockey Club Racecourse Bond, Fisher added: “With our Racecourse Bond, primarily we were delighted to secure the financing for an important development at Cheltenham, but we were also really proud that people put their trust in us and our brand, and it was a great platform for The Jockey Club to resonate with a wider audience.

“Our offer last year was timely with the high street offering so little to savers but, provided the market conditions were right, we would consider another bond issue further down the line if we were looking to raise investment capital in the future; it’s been such a success for us.

“It’s taken our relationship with the people who became Bondholders to a whole new level. Some were existing racing customers of ours while others are completely new.

“They were interested in getting excellent returns from a financially-sound organisation they trust, who also gave them the opportunity to support Cheltenham, The Jockey Club and British racing in the process with an exciting and sustainable use for the funds.”

With regards to anything The Jockey Club would have done differently, he added: “We capped the maximum investment at £100,000 because we didn’t want people to put in sums that might make them feel they were buying part of the company rather than investing in a product.

“Looking back I think we could have safely doubled the maximum without venturing into that territory and we had private individuals contacting us to see if they could make £500,000 investments we had to turn down.”

Judge Rejects Buffalo Bills’ Request to Throw Out Cheerleader Lawsuit

A New York judge has rejected a request from the Buffalo Bills to dismiss a lawsuit brought by the team’s cheerleaders over pay and working conditions.

The NFL franchise has been accused by five former Buffalo Jills cheerleaders of paying less than the minimum wage and subjecting them to sexual harassment.

The Bills argued the cheerleaders are contracted with outside firms and that they should not be involved in the lawsuit.

Supreme Court Justice Timothy Drury’s rejected the appeal and ruled that there is a question over how much control the Bills had. 

Exclusive: New TV Technologies in Sailing Help Increase AWMRT Viewing Figures

The chief executive of the Alpari World Match Racing Tour (AWMRT) has praised new television technologies and said they have ‘revolutionised’ televised sailing events.

Sailing has often been considered a niche sport and confusing to follow on television, pills but James Pleasance, chief executive of AWMRT said this is changing and his company are now benefitting from new technology.

Speaking exclusively to iSportconnect, Pleasance said: “Sailing has never been the easiest sport to either watch or televise, added to which it is a very fragmented sport with multiple disciplines which makes it impossible for there to be a ‘world’s best sailor’ for example.

“With the new technologies available in television such as adding 3D animations and the ability to broadcast live in HD for example, sailing is now more exciting to follow on television and we are certainly seeing an increase in our viewer numbers and broadcast deals this year which would suggest that we are moving in the right direction.

“The America’s Cup in particular this year has invested millions of dollars in their television technology including on screen graphics during live coverage, and this has really revolutionised the way we watch sailing on television.”

Pleasance added: “The number of subscribers and viewers to our YouTube channel has already risen sharply this year so we know there is the interest.”

Pleasance spoke in depth to iSportconnect about many different areas of the AWRT, including their sponsorship deal with Alpari, activations that have impressed him and viewing figures for their recent Chicago Match Cup event.

You can read the full article here

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Lack of Funding Forces Cycling Team Euskaltel Euskadi to Close

A lack of funding has cased Basque cycling team Euskaltel Euskadi to close down at the end of the current season.

The economic crisis is being blamed for the funding shortage and the news is a blow to Spanish cycling, ed just days ahead of the Vuelta a Espana which starts on Saturday.

A statement from the team read: “Euskaltel Euskadi will not continue next season. The introduction of a second sponsor, capsule essential to guarantee the sustainability of the team, has not come to pass, making it unfeasible for the team to continue from the start of next year, although it will wholly complete the sporting calendar for 2013.”

Local government withdrew its €3.5m ($4.6m) public funding due to spending cuts which forced the team’s main sponsor Euskaltel to look for another sponsor to help with the running costs.

This has not been forthcoming and Euskatel has now committed to funding the money needed for the season, which takes their contribution to €7m ($9.3m) of the team’s €9m ($12m) budget.

However, the telecommunications firm has said this investment is unsustainable and released a statement that read: “Today is a sad day for Euskaltel, the team, the current sponsors, fans and all that have supported this project.

“We regret that no other company or entity have decided to bet on this team, well-established in the elite of world cycling.”

Invitation-To-Tender Issued for New European Ice Hockey Tournament Commercial Rights

The International Ice Hockey Federation (IIHF), Europe’s leading clubs and their respective leagues are aiming to launch a new European club competition to begin in the 2014/15 season. An Invitation-to-Tender (ITT) has been issued today for the competition’s commercial rights.

All European Ice Hockey stakeholders met in Barcelona last year to work on a proposal for a new commercially viable new annual competition for Europe’s leading clubs, which could fit into the international calender. The proposal currently has a working name of European Club Competition (ECC).

These stakeholders are now in the process of forming a shareholder company, of which the clubs will be the majority shareholders.

IIHF Vice President Kalervo Kummola, chairman of the “Barcelona Coordination Working Group” which oversaw the entire process, said: “When we met for the first time one year ago, nobody could really tell in which direction this would develop,” says Kummola. “But it also goes to show how much you can accomplish if you work together towards a common goal.”

“We are excited to be able to invite potential tenders to bid for the commercial rights to our European club competition.”

Timo Everi, IFK Helsinki chairman and European Trophy board member, added: “This has been a unique process of cooperation in the history of European hockey. We have a come a long way, there is still lot of work to be done, but we have reached a stage where we are confident issuing this invitation to tender.”

Here comes the sun… and Golf- Paul Kimberley

Most of us think of The FA Cup final as the moment when spring turns to summer, and the sporting events calendar swings into operation.  For all here at PPL it heralds the start of our busiest time of year when we support many events, but we are especially busy in the world of golf.
We begin up in beautiful Nairn where Great Britain and Ireland golfers will be taking on the Americans for the Curtis Cup. Described as one of the finest courses in the UK, it hosts the 37th Curtis Cup. We’ll support this event and many others providing a range of scoreboards, signage and print services.
The biggest golf event of the year is The Open, and after a winter of refurbishing signage and scoreboards, we start in March with a site visit to mark out the course. Any changes to the course need noting from previous events played there, particularly to see how sight lines have changed.
From May we have an office at Royal Lytham & St Annes and the build begins. One piece of work we are particularly proud of is the 18th leader-board, which was a bespoke design and build project. The R&A wanted something that was in keeping with the event, but also updated the look and feel for their iconic scoreboard.
Seeing it in the warehouse it is a bit like looking at a giant Meccano set. It has to withstand any weather condition the British summer can throw at it, so our calculations have to be perfect.
This and all the other scoreboards are transported to the venue and gradually it moves from being a great golf course to ‘The Open’ venue.
This year the British Open is played at Royal Lytham & St Annes golf course between Thursday 19th and Sunday 22nd July 2012.

Most of us think of The FA Cup final as the moment when spring turns to summer, and the sporting events calendar swings into operation.  For all here at PPL it heralds the start of our busiest time of year when we support many events, but we are especially busy in the world of golf.

We begin up in beautiful Nairn where Great Britain and Ireland golfers will be taking on the Americans for the Curtis Cup. Described as one of the finest courses in the UK, it hosts the 37th Curtis Cup. We’ll support this event and many others providing a range of scoreboards, signage and print services.

The biggest golf event of the year is The Open, and after a winter of refurbishing signage and scoreboards, we start in March with a site visit to mark out the course. Any changes to the course need noting from previous events played there, particularly to see how sight lines have changed. 

From May we have an office at Royal Lytham & St Annes and the build begins. One piece of work we are particularly proud of is the 18th leader-board, which was a bespoke design and build project. The R&A wanted something that was in keeping with the event, but also updated the look and feel for their iconic scoreboard. Paul Kimberley Golf Expert Column

Seeing it in the warehouse it is a bit like looking at a giant Meccano set. It has to withstand any weather condition the British summer can throw at it, so our calculations have to be perfect.

This and all the other scoreboards are transported to the venue and gradually it moves from being a great golf course to ‘The Open’ venue.  This year the British Open is played at Royal Lytham & St Annes golf course between Thursday 19th and Sunday 22nd July 2012.

 


About Paul Kimberley:

Paul Kimberley is Sales and Marketing Director at the PPL Group who provide publishing and signage solutions to major events such as the Six Nations, Wimbledon Tennis Championships and The Open. 

Before joining PPL Group, Paul served as the Commercial Director of the Rugby Football League.

With around 20 years of experience in the sports industry, Paul specialises in the fields of Marketing, Sponsorship, Commercial, Broadcasting and People Management.

Prior to his 8 year stint at the RFL, Paul served as Sponsorship Manager at Leeds United Football Club (2003-2004). Prior to that, he served as the Commercial Director of Rotherham Titans (2202-2003). Paul has also held positions as Manager at PGA European Tour Courses (1996-2001) and as Marketing Manager at the Broadgate Club (1992-1996).

He studied Business at Manchester Metropolitan University.

Visit: www.thepplgroup.com

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Kazakhstan To Host 2013 World Boxing Championships

Kazakhstan has pulled of a significant coup by being confirmed as the host of the 2013 World Boxing Championships, The International Boxing Association have announced. The event will take place in the capital city of Astana.

The International Boxing Association (AIBA) revealed the news on Thursday after the signing of a contract between AIBA president Dr Ching-Kuo Wu and Kazakhstan Boxing Federation (KBF) counterpart Timur Kulibayev. AIBA intends that the staging of the Championships will coincide with the opening of its World Boxing Academy in Almaty in October 2013.

“Kazakhstan is one of the leading nations in boxing, in terms of quality of boxers and in quality of tournaments,” said Wu. “Hosting the AIBA World Boxing Championships next year is another milestone for the country and we are also very excited about the AIBA World Boxing Academy that is currently being built near Almaty. This will be a world-class facility to welcome the world’s best boxers. This project was endorsed by the Federation and by the Ministry of Sports and once again demonstrates that Kazakhstan is building the foundations for the future of our sport.”

The World Championships are a biennial event, with Azerbaijan’s capital city Baku having staged its previous edition in 2011.

FIFA Brand Health Check – Steven Falk

Diagnosis:

FIFA is not just sick; it is in terminal decline. The symptoms are clear, so no need for a Gregory House ‘Lupus’ moment here. FIFA’s malaise is almost wholly self-inflicted, the result of a massive overdose of greed, egomania and overweening hubris.

Here is living proof that the strength of a brand is so much more that a strong logo and a popular product offer. When an organisation displays values, attitudes, beliefs and behaviours that run contrary to those stated in its mission, the brand’s essence and vital life-signs start to fail and shut down with alarming speed.

Unfortunately, this patient is in denial and refusing all treatment. Consequently, the heartbeat of the brand is becoming erratic. Without immediate correction, its function will fade and become an irrelevant appendix as the vibrant body it purports to represent naturally regenerates and bye-passes the malignant areas.

Prognosis: the next major trauma may prove fatal.

Remedies

  • – Implement root & branch reform of the FIFA hierarchy to excise all corruption.
  • – Introduce robust processes for the democratic election of all ExCo members and full transparency concerning all subsequent voting and commercial dealings.

– Bring a greater degree of demographic and gender balance to ExCo members.

– Modernise its outlook, listen to the views of its key constituencies and allow each member FA to introduce video technology if it so wishes.

Treatment

Radical external intervention is required. The successful surgery applied to the IOC after the Salt Lake City debacle is the proven treatment regime to follow.

If leading national governments take concerted action to forbid commercial organisations within their jurisdiction from engaging with or sponsoring FIFA tournaments, the necessary internal reforms will quickly follow.

Only in this way can the twin cancers of corruption and mismanagement at the heart of our beautiful game be excised and FIFA be returned to full fitness for purpose.

 


About Steven Falk

 

A graduate in Psychology from Manchester University, Steven started his career in the motor industry before taking an MBA at Warwick University Business School. There followed commercial roles at Astra Zeneca, United Utilities, Great Universal Stores and MBNA Bank where he worked on a range of assignments in the UK, Eastern & Western Europe, North America and Asia.

From 2001 to 2009, Steven was Marketing Director at Manchester United Football Club. Steven served as a member of the Executive Committee of Manchester United and a board director of Manchester United Foundation, the club’s charitable trading arm. In January 2010, he launched Star Sports Marketing, a specialist sports marketing consultancy. For more information, please visit www.starsportsmarketing.com

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Chapecoense Benefit Friendly Takes Place

Brazil beat Colombia 1-0 in an international friendly organised to raise funds for the Brazilian side Chapecoense. The game, which took place outside the FIFA international calendar and thus mainly comprised domestic-based players, was won by a goal from Dudu.

The match was organised in the wake of the Colombian November plane crash, which saw 71 people – many of whom were Chapecoense players or staff members on their way to the Copa Sudamericana Final- tragically lose their lives.

The benefit match raised around $378,000, which will be distributed by Chapecoense to the families of those affected by the tragedy.