Mbalula reveals R10bn sport development plan - 24 May 2013
Sport and Recreation Minister Fikile Mbalula, has revealed that the National Sport and Recreation Plan (NSRP) will cost the nation up to R10 billion. read more
Finance News Articles
Administrator warns ASA in financial trouble - 08 May 2013
Administrator of Athletics SA (ASA), Zola Majavu, has warned that the organisation faces a difficult financial future and is close to bankruptcy. read more
Man United posts record turnover - 03 May 2013
According to figures released by the New York Stock Exchange, Manchester United has posted a third-quarter turnover of R1.2bn. read more
SAFA denies bankruptcy in parliament - 01 May 2013
Executives from The SA Football Association (SAFA) have announced that some of the governing body’s assets will be sold to fill its current ‘liquidity gap’ during a meeting at Parliament's sport committee. read more
F1 prepares for stock market launch - 30 Apr 2013
Bernie Ecclestone has announced that Delta Topco, Formula One’s parent company, has voted to float the series on the Singapore Stock Exchange by the end of the year. read more
SAFA reports annual loss of R54.4 million - 29 Apr 2013
The South African Football Association’s (SAFA) financial results for the year ending June 2012 show the governing body made a loss of R54.4m. read more
Wimbledon announces record prize money - 24 Apr 2013
The All-England Club has announced a record prize pot for this year’s Wimbledon Championship, up 40% to £22.6 million (R317m), while plans for a retractable roof for Number One Court were also announced. read more
Shirt deal enables New Zealand Rugby profit - 27 Mar 2013
New Zealand Rugby has announced its first operating profit since 2008, citing its new shirt sponsorship deal with AIG as playing a key role in the turnaround. read more
Liverpool reveals price of CL Failure - 05 Mar 2013
The extent of the cost of failing to re-establish a club in Europe, despite heavy investment, has been revealed after Liverpool FC on Monday announced its debts had risen by a third to £87.2 million, while losses of £40.5 million were accumulated during the 2011/12 season. read more
Arsenal rejects takeover speculation - 04 Mar 2013
Arsenal has dismissed reports of a £1.5 billion takeover bid from a Middle East consortium, adding that majority owner Stan Kroenke has no intention of selling his stake in the under-fire Barclays Premier League side. read more
Toyota donates to Safe Cycling campaign - 26 Feb 2013
Toyota South Africa has donated R50,000 to the Pedal Power Association in support of the 1,5 meter Safe Cycling campaign. The donation was made during Tuesday’s Super Cycling TV show with cycling legend and TV host Andrew McClean. read more
RVP transfer boosts Arsenal profits - 26 Feb 2013
Arsenal FC has announced a profit of £17.8 million (R238.5m) in the club's latest half-yearly results, achieved effectively by the sale of Robin van Persie to Manchester United, with cash reserves also up £7 million (R93.8m) to £123.3 million (R1.6bn). read more
Premier League leaders reveal profit rise - 15 Feb 2013
Premier League leaders Manchester United have announced a significant rise in profits for the second half of 2012, with pre-tax profits growing to £22.3 million (R350m). read more
Man Utd value tops $3 billion - 29 Jan 2013
The value of Barclays Premier League leaders Manchester United has topped $3 billion (R27.2bn) - the first sports team in the world to do so – following a surge in the club's shares. read more
Tottenham reveals cost of CL absence - 23 Jan 2013
Tottenham Hotspur FC has announced a loss of £4.3m (R60.5m) for the 2011/12 financial year, after missing out on Champions League football. Club revenue was down 12% while profit from operations dropped to £23m (R323.9m) from £38m (R535.1m). read more
Bafana players accept limited bonus structure - 17 Jan 2013
Ahead of the Africa Cup of Nations opening on Saturday, coach Gordon Igesund has revealed that Bafana Bafana players will receive bonuses only if they reach the quarter-finals and final. read more
World Cup worth ‘intangible legacy’, says report - 27 Nov 2012
A report by the South African Government on the 2010 FIFA World Cup has outlined the costs and benefits of hosting the tournament, claiming that it has created an intangible legacy. The report has raised expectations that SA may bid for the 2024 Olympics and Paralympics. read more
Manchester United reduce debt to £359.7m - 15 Nov 2012
Manchester United has announced its financial results for its first financial quarter ending on 30th September revealing that the club’s debt has fallen to £359.7m. read more
Chelsea FC reveal £1.4m profit - 12 Nov 2012
Chelsea Football club has announced its financial details for the year ending on 30th June, revealing a profit of £1.4m. It is the first time the club has made a profit since owner Roman Abramovich took over in 2003. read more
Armstrong told to pay back $12m - 01 Nov 2012
American insurance company SCA Promotions announced on Wednesday that it has contacted Lance Armstrong demanding that he pay back $12m (R104m) in bonuses and warned that it will consider pursuing legal action against the cyclist. read more
Woods & McIlroy set for one-off bonus - 29 Oct 2012
As Tiger Woods and current world number one Rory McIlroy prepared to face-off in their unique one-day exhibition match in China today, they reached the first tee safe in the knowledge that they are both already winners, after their appearance fees were reported in the media. read more
INCREASED PRIZE for 2012 CONTEGO RACE - 25 Oct 2012
The prize purse for the 2012 Contego Wines2Whales MTB race powered by Maserati has been increased considerably from 2011. read more
FA launches Women’s Football plan - 25 Oct 2012
The Football Association has launched a new five-year strategy with the aim to make women’s football the second most played sport in the country. read more
GB Athletes discover funding fate - 16 Oct 2012
UKA has released the names of athletes who will be receiving support from the World Class Performance Programme for 2013, with a number of Olympic and Paralympic performers elevated to top level funding following successful Games performances. read more
BCCI terminates Deccan Chargers IPL team - 15 Oct 2012
The Board of Control for Cricket in India (BCCI) has launched a tender for a new Indian Premier League franchise after the termination of the Deccan Chargers team was confirmed on Friday. read more
Good Grace targets Euro money list dominance - 08 Oct 2012
South African Branden Grace has set his sights on topping the European money list, after he moved to within R8.1m of leader, and world number one, Rory McIlroy. read more
No CSA staff bonus for CLT20 - 04 Oct 2012
Organisers of the Champions League Twenty20 tournament (CLT20) has confirmed that no Cricket South Africa staff will receive bonuses for hosting the competition – with tournament director Naasei Appiah adding: ‘We don't receive bonuses for running events.’ read more
Aussie Open prize boost pleases players - 04 Oct 2012
Tennis players have welcomed the news that prize money for the Australian Open will rise by Aus$4m, but Novak Djokovic was warned that the fight for a greater share of revenues is not over, as lower-ranked players continue to struggle paying their own way. read more
Arsenal CEO backs safe financial approach - 28 Sep 2012
Arsenal Football Club has announced it has doubled its profits for the financial year ending May 2012, thanks in large to the sale of star players such as Cesc Fabregas and Samir Nasri – and Arsenal chief executive Ivan Gazidis has insisted the club will continue to follow a financially responsible strategy. read more
Adidas renews Real Madrid partnership - 27 Sep 2012
Real Madrid is set to continue its lucrative kit supply deal with adidas, after the Spanish league champions announced it has extended its partnership until the end of the 2019/20 season. read more
Nehwal becomes India’s best-paid non-cricketer - 21 Sep 2012
Olympic badminton bronze medalist Saina Nehwal has signed a three-year deal with sports management company Rhiti Sports, making her India’s highest-paid non-cricketing athlete. read more
The O2 available as AEG goes up for sale - 20 Sep 2012
US billionaire Philip Anschutz has put AEG – the entertainment group that owns The O2 and a number of venues and sports teams in the States – up for sale. read more
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