No, we’re not talking about stuff like this…
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The Bank of England governor is a rule-breaker, just like Argentinian football star Diego Maradona.
So says Malcolm Barr over at JPMorgan: Read more
Two of the world’s largest sports franchises will come under joint ownership if the Boston Red Sox wins a legal battle to buy Liverpool soccer club for £300m, the FT says. New England Sports Ventures, which owns the baseball team, and the Liverpool board exchanged contracts on Wednesday but must overcome opposition from Tom Hicks and George Gillett, the US owners of the indebted English club. The BBC reports that Liverpool chairman Martin Broughton is “confident” the sale can be done.
Some August fun below.
A new paper from the University of Toronto’s Feng Chi and Nathan Yang seeks to determine whether there’s a link between social status and wealth. In particular, it tries to examine a possible connection via the perceived social status of 2010 World Cup football players and their country’s GDP per capita. Read more
Just weeks after signing a deal to have its name emblazoned on the shirts of Tottenham Hotspur, shares in FTSE 100 software company Autonomy have dropped following the publication of half year results, reports FT Alphaville. And there’s plenty for the bears to chew over: earnings are lower than expected in spite of a lower tax rate, costs are rising, cash conversion was just OK, and that’s before R&D capitalisation is considered. Read more
Sunday’s World Cup final will be an all-European encounter – just as it was four years ago – after Holland overcame Uruguay 3-2 in Cape Town in the first semi-final, the FT says. They will contest the final in Soweto against either Germany or Spain who meet in Wednesday’s second semi-final in Durban. Separately, the FT reports that Barcelona, whose players will make up the bulk of Spain’s team in Wednesday’s World Cup semi-final against Germany, are seeking a €150m loan to help pay player and staff wages. FT Alphaville has the stock market implications of a Holland-Germany final.
Marketing departments will have to weigh the benefits of being associated with the England football team now that Nationwide is set to end its sponsorship deal after 11 years, according to the FT. The country’s largest building society is unlikely to renew its £20m, four-year contract with the Football Association after the two parties were unable to agree a price.
France’s World Cup campaign, crippled by dire performances on the pitch, internal strife and a players’ strike, went from bad to worse when Crédit Agricole pulled an advertising campaign and sponsors demanded action by the country’s football authorities, says the FT. The French bank said on Monday it had stopped early the advertising campaign, due to run until June 25, “in view of the current controversy surrounding the French national team”.
Standard Chartered says markets have drifted higher over the last fortnight because of the World Cup effect, reports FT Alphaville. Which suggests Europe should perhaps forget the European Financial Stability Fund, and focus on organising the European Football Soccer Federation, to hold a tournament forthwith. Read more
England’s Premier League has maintained its ranking as the leading European football moneyspinner by turnover but its profitability remains threatened by the wage demands of players and their agents, says the FT. Buoyant gate receipts and TV revenues helped England’s top flight to generate nearly £2bn ($3bn) last year, a report by business adviser Deloitte said.
Continuing our recent theme of financial analysts-turned-soccer-experts, we bring you a Friday edition of 2010 World Cup predictions, FT Alphaville writes. Brazil looks like a winner — thanks to some rather… odd quant criteria. Read more
Not really (probably).
However, England-squad sponsor Nationwide are offering four-year ‘football bonds’ with a bonus, should the team win the 2010 World Cup: Read more
With the 2010 World Cup a mere three weeks away, the trickle of investment bank World Cup research continues apace. Yes, suddenly all the analysts have become football experts going on bookies, reports FT Alphaville. According to the quants, Brazil is seen as the strongest team taking part in the tournament but the world cup winners will be England. Read more
The number of foreign visitors to the football World Cup in South Africa will be about 110,000 fewer than originally forecast, the FT said, citing a report by consultancy group Grant Thornton. The recession, slow ticket sales in Africa and high prices will combine to depress the number of arrivals for the event in June, the report said.
The prospect of a fresh takeover battle for Arsenal edged closer on Monday night after the Premier League football club’s fourth-biggest shareholder decided to put her stake up for sale, the FT says. Lady Nina Bracewell-Smith, who was ousted from the Arsenal board in 2008, is understood to have hired bankers at Blackstone, the private equity group, to find a buyer for her 15.9 per cent stake in the club.