Skip to main content

Sporting Lisbon stave off bankruptcy

Sporting Lisbon have won a breathing space from their financial problems by staging a bond sale which will stop them defaulting on creditors: Back from the financial brink

Both Sporting Lisbon and FC Porto have been judged to be technically bankrupt in the sense that their debts exceed their assets. Sporting and other Portuguese teams have struggled to fix their finances after years of mismanagement and a legacy of debt going back to when Portugal built new stadiums to host the 2004 European Championships. The clubs then could not fill or maintain them.


Popular posts from this blog

Short keeps hold of hotel

Ellis Short will be able to recoup some of the money tied up in the £140m debts he has cleared to facilitate the sale of Sunderland. The agreement with the purchasing consortium does not include the Hilton Gardens Inn hotel which is situated opposite the Stadium of Light.Short will also retain an area of land next to the hotel which has planning permission for a further development, with the two having a combined valuation of £30m.

American money behind Charlton takeover

Charlton fanzine editor Rick Everitt has tweeted, 'The substantial money behind the Charlton takeover bid is American, I have heard tonight, although it’s still Aussie fronted.'Another social media report states 'New Charlton owners are Scott Farquar and Mike Cannon-Brooks. They are the Sydney-based founders of software giant Atlassian. Nothing to do with "time waster" Andrew Muir. Both very, very rich.'No doubt there will be some more twists and turns in this long running saga.

Moshiri increases grip on Everton

Everton owner Farhad Moshiri is looking to increase his shareholding in the club to close to 60 per cent by purchasing the shares of the deputy chairman Jon Woods. Moshiri paid £200m for a 49.9 per cent share in the club two years ago and is now seeking to exercise an option to buy the 8.9 per cent owned by Woods, which would take the share to 58.9 per cent.Moshiri's proposed purchase would leave the chairman Bill Kenwright (12.2 per cent) as the only other shareholder with more than 5 per cent.