A weekly compilation of interesting soccer related business news.
FIFA Women’s World Cup 2011 declared ‘financial success’ – July 22nd
The FIFA Women’s World Cup 2011™ has proved exceptionally successful from a financial point of view, the Local Organising Committee (LOC) announced following publication of provisional results from the tournament.
Based on current income and expenditure forecasts, the LOC anticipates a surplus before taxes of €10.6 million, although the figure is subject to change depending on a final audit and cash flow evaluations. Corporation and municipal business taxes due to the German authorities come to approximately €3 million, leaving a net surplus of some €7.6 million.
Full Article >> FIFA.com
Pearson takes over at Hull – July 23rd
FORMER Hull City chairman Adam Pearson has pledged to invest cash to turn Hull FC into a major force in the game after completing his shock takeover of the Super League club.
Full Article >> The Yorkshire Post
Birmingham chairman warns of ‘unpopular decisions’ in survival battle – July 27th
Birmingham City‘s acting chairman, Peter Pannu, has admitted that the club might have to sell more players in order to survive.
The club’s financial stability has been in doubt since their controlling shareholder, Carson Yeung, was arrested in Hong Kong last month and charged with five counts of money laundering, which he denies. Shares in the club’s holding company have been suspended.
Full Article >> The Guardian
MLS commissioner Don Garber: Expect MLS to be one of world’s top soccer leagues within 10 years – July 27th
“When we were going through the bidding process, we said, ‘What do we really want to achieve if we get the (2022) World Cup?’ ” the MLS commissioner told The Star-Ledger. “One of the first things that came out of that plan was we want Major League Soccer to become one of the top leagues in the world by 2022. That’s still our goal.”
Full Article >> The Star Ledger
Ronaldo’s new position – bank collateral
The most expensive footballer in history may now be used to guarantee the solvency of a Spanish bank. “Ronaldo in the bailout fund,” headlines Süddeutsche Zeitung. The daily reports that the Bankia group of savings banks, which financed Real Madrid’s acquisition of the Portuguese player, is now seeking to borrow funds from the European Central Bank. In response to the ECB’s demand for guarantees, Bankio are putting up… Ronaldo and the Brazilian Kaka,
Full Article >> Presseurop.eu