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  • Tampa Bay Rays invest in UFL

    13 August 2009 | NewsInvestment, Football Contract

    The Tampa Bay Rays MLB team have acquired an interest in the ownership of the Florida franchise of the new United Football League (UFL). Although the financial details have not been released, local newspaper reports suggest the Rays have invested a little under US$2 million in the new football team.… [Read more]

  • ‘IPL-lite’ reaps impressive franchise fees

    10 August 2009 | NewsCricket, Investment Contract

    A start-up regional cricket tournament in India has received franchise bids totalling around US$7.3 million. The Kanartaka Premier League, or ‘Twenty20 KPL’, is modelled on the hugely successful IPL. The tournament will feature eight ‘zonal’ teams from within the region, governed by the Karnataka State Cricket Association (KSCA), and will… [Read more]

  • Ashes captain Ponting takes stake in English soccer club

    4 August 2009 | NewsInvestment, Cricket

    Ricky Ponting has received 500 shares in Altrincham FC in thanks for his contribution to fundraising at the club.The non-league side’s chairman, Geoff Goodwin, gave the shares to Ponting in advance of Tuesday’s friendly against Manchester United at the club’s 6,000-capacity Moss Lane, attended by the Australia captain.“Ricky has become… [Read more]

  • Livingston takeover wins league approval

    2 August 2009 | NewsInvestment, Soccer

    Former Cowdenbeath owner Gordon McDougall, ex-Dumbarton chairman Neil Rankine and interim manager Donald McGruther, of administrator Mazars, have been handed Scottish Football League approval to take control of soccer club Livingston.The move guarantees the club’s survival in the Scottish First Division next season, although it could still face a points… [Read more]

  • Armstrong finally reveals identity of new team sponsor

    26 July 2009 | NewsInvestment, Miscellaneous, Sponsorship

    Seven-time Tour de France winner Lance Armstrong has revealed that RadioShack will be the principal sponsor of his new cycling team next year.The 37 year old American had been planning to form his own team for the 2010 season since it emerged some months ago that Team Astana, the Kazakh-backed… [Read more]

  • Celebrity investment in Miami Dolphins continues

    22 July 2009 | NewsInvestment, Football

    Celebrity investment in the Miami Dolphins has continued with the news that Marc Anthony has become a minor owner.Anthony, a Grammy award-winning songwriter and the husband of Jennifer Lopez, joins Gloria and Emilio Estefan, who bought into the NFL franchise earlier this summer.“I’m a huge sports fan,” said Anthony. “These… [Read more]

  • Al Fahim gets go-ahead for Portsmouth takeover

    21 July 2009 | NewsInvestment, Soccer

    Dr Sulaiman Al Fahim has been named as chairman of English Premier League club Portsmouth after agreeing a takeover deal.The businessman, worth an estimated US$500 million, has agreed to purchase the club from Alexandre Gaydamak. The agreement comes at a crucial time for the financially beleaguered club, which has been… [Read more]

  • Real Mallorca sale agreed

    21 July 2009 | NewsInvestment, Soccer

    Carlos Gonzalez, the owner of technology consultancy Grupo Ecco, has agreed to buy Spanish soccer club Real Mallorca.Gonzalez will spend US$7 million to secure 93 per cent of shares in the club from current owner Mateu Alemany in a deal that will be finalised by the end of the month.The… [Read more]

  • London Welsh takeover will keep club in Championship

    21 July 2009 | NewsInvestment, Rugby

    The Rugby Football Union have ratified the takeover of London Welsh by the Red Dragon Rugby group, allowing the club to compete in the Championship next year.The RFU had demanded that the investors prove they could support the club for at leats two years. Red Dragon is believed to have… [Read more]

  • Houston Rockets star Yao Ming buys basketball team

    16 July 2009 | NewsInvestment, Basketball

    As predicted by SportsPro last week, Yao Ming, the Houston Rockets NBA star, has bought his former club, the Shanghai Sharks.Yao, who earned more than US$30 million in 2008, is now the sole shareholder of the club. The player, who has been plagued by niggling foot injuries in recent seasons,… [Read more]