MUMBAI: Bankrupt MLB franchise Los Angeles Dodgers has been bought by a consortium led by legendary Laker Magic Johnson‘s bidding group for the Dodgers and Dodger Stadium for $2 billion, making it one of the costliest purchases ever paid for a North American sports franchise.

The sale officially is to Guggenheim Baseball Management LLC, which includes Mark R. Walter as its controlling partner, Johnson, Peter Guber, Stan Kasten, Bobby Patton and Todd Boehly. Current owner Frank McCourt and certain affiliates of the purchasers will also be forming a joint venture, which will acquire the Chavez Ravine property and parking lots for an additional $150 million.

"I am thrilled to be part of the historic Dodger franchise and intend to build on the fantastic foundation laid by Frank McCourt as we drive the Dodgers back to the front page of the sports section in our wonderful community of Los Angeles," said Johnson.

The deal will be presented to bankruptcy judge Kevin Gross next month for an expected approval. The price would set a new mark for a sports franchise, topping the sale of the NFL‘s Miami Dolphins to Stephen Ross ($1.1 billion) in 2009 and of the Manchester United soccer club in England by Malcolm Glazer and his family ($1.47 billion) in 2005.

"This transaction underscores the Debtors‘ objective to maximize the value of their estate and to emerge from Chapter 11 under a successful Plan of Reorganization, under which all creditors are paid in full," the Dodgers said in a release.

"This agreement with Guggenheim reflects both the strength and future potential of the Los Angeles Dodgers, and assures that the Dodgers will have new ownership with deep local roots, which bodes well for the Dodgers, its fans and the Los Angeles community," said McCourt. "We are delighted that this group will continue the important work we have started in the community, fulfilling our commitment to building 50 Dream Fields and helping with the effort to cure cancer."

The Dodgers entered bankruptcy last June when they couldn‘t meet player payroll or pay bills after MLB Commissioner Bud Selig declined to approve a $3 billion agreement between FOX and the Dodgers to extend their television broadcast rights.

Based on a settlement with MLB and overseen by the bankruptcy court, McCourt had until 1 April to identify a winning bidder. The deal must close by 30 April, the same day McCourt must pay his former wife, Jamie McCourt, a $131 million divorce settlement.

There were three final bidders in the auction run by Blackstone Advisory Partners on behalf of McCourt -- the winning group of Guggenheim, Johnson and Kasten; billionaires Steven Cohen and Patrick Soon-Shiong and agent Arn Tellem; and Stan Kroenke, owner of the St. Louis Rams.

The McCourts bought the Dodgers in 2004 from Fox for a net purchase price of $371 million. With the $2 billion for the team and stadium, plus $300 million for the surrounding land and parking lots, the selling price is a total of $2.3 billion, just shy of $2 billion appreciation in eight years.

Reacting to the sale of Dodgers, MLB Commissioner Allan H. (Bud) Selig released a statement saying, "It is extraordinarily exciting for Major League Baseball that Magic Johnson, a beloved figure in Los Angeles and around the world, has entered into an agreement, along with Guggenheim CEO Mark Walter and longtime baseball executive Stan Kasten, that would make them a part of our national pastime,"

"I believe that a man of Magic‘s remarkable stature and experience can play an integral role for one of the game‘s most historic franchises, in a city where he is revered. Major League Baseball is a social institution with important social responsibilities, and Magic Johnson is a living embodiment of so many of the ideals that are vital to our game and its future.

"The interest in this franchise and its historic sale price are profound illustrations of the great overall health of our industry. This has been a long, difficult process, and I once again want to thank the great Dodger fans for their loyalty and patience."

MUMBAI: English soccer club Manchester United has posted a revenue of ?175 million for the six months to the end of 2011, up from ?156.5 million a year earlier, driven largely by rises in media and commercial income, including a new training kit deal with DHL.

Operating costs, however, rose to ?110 million from ?96.9 million.

Match day revenues rose from ?52.4 million to ?54.5 million, media revenue were up from ?53.7 million to ?60.9 million and commercial revenue was up from ?50.4 million to ?58.6 million.

There was a fall in the bank balance, from ?150.6 million to ?50.9 million, over six months as a result of the ?47 million net outlay on transfers in the summer and ?5.3 million in the most recent quarter alone spent on buying back bonds.

Debt was ?439 million less than the ?508 million reported a year ago.

MUMBAI: For the fourth successive year, the top six places in Football Money League from Deloitte has remained unchanged with Real Madrid, Barcelona, Manchester United, Bayern Munich, Arsenal and Chelsea retaining their rankings.

Real Madrid is now just one year short of equalling Manchester United?s dominance in the top position during the first eight years of the Money League. They are being chased hard by rivals Barcelona, whose 13 per cent growth in 2010/11 meant revenue surpassed ?450m for the first time. Manchester United?s failure to qualify for the knockout stages of the Champions League in 2011/12 will likely result in the gulf between the club and its Spanish opponents stretching to over ?100m.

The combined revenues of the world?s 20 highest earning football clubs have defied European economic woes by growing 3 per cent on the previous year, the business advisory firm said.

They have achieved double the rate of growth of the economies of the countries represented in the Money League, which grew on average by just 1.7 per cent during the course of 2010 and by 1.3 per cent in 2011.

The 20 clubs generated ?4.4 billion in revenue during the 2010/11 season and now represent over a quarter of the total revenues of the European football market. Nine of the top 20 clubs recorded double-digit growth in the year.

Dan Jones, Partner in the Sports Business Group at Deloitte, commented: ?Continued growth of the top 20 clubs during 2010/11 emphasises the strength of football?s top clubs, especially in these tough economic times. Whilst revenue growth has slowed from 8% in 2009/10 to 3% in 2010/11, their large and loyal supporter bases, ability to drive strong broadcast audiences and continuing attraction to corporate partners has made them relatively resilient to the economic downturn.?

Jones commented: ?Barca?s shirt deal with the Qatar Foundation, will further boost the club?s revenue in 2011/12. Nonetheless, Real Madrid will be confident it can remain at the top of the Money League next year. The two clubs? on-pitch performance, particularly in this season?s Champions League, will have a big influence on the final outcome.?

Once again, the Money League top 20 comprises clubs from the ?big five? European leagues, six of which come from the English Premier League. A further five Premier League clubs were just outside the top 20 for revenues in the 2010/11 season (Aston Villa, Newcastle United, Everton, West Ham United and Sunderland).

The Deloitte Football Money League - 2010/11 revenue

After its first season without Champions League football since 2003/04, Liverpool slipped another place down the Money League, dropping to ninth position. Despite reporting strong growth from its commercial revenues, and a new six-year kit deal with Warrior Sports from 2012/13, Liverpool needs a return to European football to help secure its top 10 position in the Money League. This is under threat from English Premier League rivals Tottenham Hotspur (11th) and Manchester City (12th), among others.

Alan Switzer, a director in the Sports Business Group at Deloitte, said: ?Spurs? recently received planning consent for a new stadium development, coupled with a continuation of their recent on-pitch form, could secure a Money League top 10 position for the club on a frequent basis. A glance across North London to Arsenal leaves little doubt of the scale and impact of the increased matchday revenue opportunities that arise from a modern stadium development.?

Tottenham?s debut in the Champions League, where it reached the quarter-final stages, gave the club a chance to gain 10th spot in this year?s Money League. However, it was leapfrogged by Schalke 04 ? this year?s biggest climbers ? which jumped six places, pushing Italian giants Juventus out of the top 10 in the process. Schalke?s dramatic rise up the Money League came as a result of a Champions League campaign that saw the club reach the semi-finals of the competition. However, a disappointing 14th place finish in the 2010/11 Bundesliga season and failure to qualify for Champions League football in 2011/12 will likely see a drop back down next year.

Despite impressive revenue growth, Manchester City slipped one place in the Money League.

Switzer explained: ?The club?s heavy squad investment secured Champions League football for 2011/12. When combined with the ground breaking 10-year partnership with Etihad, this will provide substantial growth across all three revenue sources and will see City break into the top 10 in the Money League next year.?

Commenting on the impact of UEFA?s financial fair play break-even requirement, Paul Rawnsley, a Director in the Sports Business Group at Deloitte, commented: ?The focus on football?s future financial sustainability is more prevalent in Europe than at any time in the past 20 years. We remain keen to see that translated into a better balance between revenue and expenditure. UEFA?s break-even requirement, to be assessed for the first time in 2013, is helpful in driving this improvement. It is encouraging more owners to consider the longer term development of their clubs, in terms of generating revenues, investing in facilities and youth development, and controlling their expenditures.?

The three clubs that have dropped out of the Money League for 2010/11 (compared to the top 20 clubs based on 2009/10 revenue) are Atl?tico de Madrid, VfB Stuttgart and Aston Villa.

MUMBAI: Hublot CEO Jean-Claude Biver will be speaking on the ?Football Brands, the World? panel at the Soccerex global convention taking place in Rio de Janeiro, from 26-30 November.

Biver will be joining Fifa?s Director of Marketing Thierry Weil on the panel which explores the use of football by international companies as a platform for brand leverage.

Since joining Hublot in 2004, Biver has moved to increase the public profile of their brand awareness in a number of high profile sponsorship deals. In 2008, they agreed a deal with Manchester United. That same year they became the first luxury brand to enter football at the European level, as timekeeper of the Euro 2008 which resulted in them becoming the official time keeper of t he 2010 Fifa World Cup and the 2014 Fifa World Cup.

Soccerex CEO Duncan Revie said, "To have Jean-Claude speak on the brands panel just adds to the quality of the session. The work he has done at Hublot has resulted in industry acclaim and it is great to have his knowledge on the subject especially when his strategy for brand growth has been so successful over the years."

Biver said, "Soccerex is a perfect platform to share our precursor views as a luxury brand in the world of football. The quality of the attendance will definitively enhance the experience, and the fact that the conference takes place in Rio, host city of the Fifa World Cup 2014 makes this rendez-vous very special."

The panel will focus on why brands consider football as a winning portal into domestic and international markets and break down the fundamental benefits of using football as a platform to connect with consumers. Speakers on the panel will draw on relevant case studies to endorse their argument.

?Football Brands, the World? is one session that makes up the
conference line up at this year?s Soccerex Global Convention.

Other topics that will be discussed include the 2014 Fifa World Cup, stadia, sustainability, performance, social media, commercial success, plus exclusive sessions with some of the footballs biggest stars past and present.

As well as this conference schedule, the Soccerex Global Convention will consist of an exhibition and networking events taking place in the Forte de Copacabana plus a two-day Football Festival taking place on the Copacabana beach in Rio de Janeiro.

MUMBAI: In a case of turnarounds, owners of Manchester United have delayed their plans to sell stock in Singapore as the market is very volatile.

Though the Glazers aren?t in hurry to proceed immediately, it is understood that the Florida-based owners are prepared to wait until market conditions are more favourable and postpone their preferred mid-October listing if required.

Yesterday, Singapore?s stock exchange had approved the football club?s application to raise about $1 billion in an initial public offering. After the approval, the Glazers were given the go ahead to press ahead with their partial flotation of the club selling up to 30 per cent of their stake holding.

Accordingly, the Glazers had informed the Singapore Stock Exchange that some of the proceeds of the flotation would go towards reducing United?s debt that stands at ?308.3 million net.