Harrods executive takes a trip stateside to join Hudson’s Bay September 17, 2013 HARRODS chief merchant Marigay McKee will become president of Saks after the Canadian retailer Hudson’s Bay acquires the upscale US department store operator. Saks also said that chairman and chief executive Stephen Sadove and president and chief merchant Ronald Frasch are set to leave the company once it is acquired by Hudson’s Bay The $2.4bn [...]
Al Fayed makes Fulham debt-free January 29, 2013 FOOTBALL: Fulham owner Mohamed Al Fayed has cleared the club’s debt by converting £212m of loans into equity. The Premier League club yesterday announced an operating profit of £1.2m and revenue of £79.3m for last season, up from £77.1m in 2010-11, but did not reveal full financial results.
City lawyer warns top football clubs December 17, 2012 A LEADING City lawyer and adviser has warned that European chiefs are gearing up to take a hard line on financial fair play (FFP) rules. The warning comes days after Premier League champions Manchester City announced a £97.9m loss for 2011-12, raising fears they could breach governing body Uefa’s regulations. Uefa’s FFP rules allow clubs [...]
Why football cannot ignore Europe’s new rules December 16, 2012 FOR those who aspire to be the next Sir Alex Ferguson, the Premier League’s fantasy football game offers the chance to build your own squad on a budget of £100m. Each fantasy manager has equally sized pockets, so the playing field is level. Thus, competition is fierce. Compare Premier League reality, where the elite maintain [...]
Lonmin’s chief will return after executive re-jig August 19, 2012 LONDON-listed miner Lonmin yesterday said its chief executive Ian Farmer will return to take the helm of the business despite a re-jig of executive responsibilities following his hospitalisation. Farmer, the well-respected chief executive of the firm, took leave of the day to day running of the business last Thursday after being hospitalised following a routine [...]
Al Fayed in stinging attack on refs, FA and top flight chiefs April 11, 2012 FULHAM chairman Mohamed Al Fayed has launched a stinging attack on the game’s lawmakers, accusing referees of being influenced by big clubs and questioning the integrity of both the Football Association and the Premier League. Al Fayed has written to both bodies demanding “an immediate review of refereeing practices and the process of decision making” [...]
Bumper attendances lift Fulham to record profits December 19, 2011 REGULAR full houses at Craven Cottage last season helped Fulham achieve best ever revenues and a record net profit of £4.8m for the year ending 30 June. Attendances rose 4.9 per cent, with the stadium on average 98 per cent full, as the west Londoners finished eighth in the Premier League. Pre-tax profit was £5.4m, [...]
Bumper attendances lift Fulham to record profits December 19, 2011 REGULAR full houses at Craven Cottage last season helped Fulham achieve best ever revenues and a record net profit of £4.8m for the year ending 30 June. Attendances rose 4.9 per cent, with the stadium on average 98 per cent full, as the west Londoners finished eighth in the Premier League. Pre-tax profit was £5.4m, [...]
Al Fayed in ‘strange man’ blast at Hughes October 24, 2011 FULHAM owner Mohamed Al Fayed has launched a stinging attack on the club’s former manager Mark Hughes, calling him a “strange man” and insisting he was not their first choice appointment. Al Fayed penned an open letter on the Cottagers’ website in response to comments Hughes made at the weekend in which the Welshman said [...]
Relegation in danger of axe – managers’ chief October 17, 2011 OVERSEAS owners of Premier League clubs want to ringfence the top flight and abolish relegation, according to League Managers’ Association chief Richard Bevan. Such a move could only be passed if 14 of the 20 leading clubs voted in favour of the change, but Bevan believes that could happen if more foreign investors snap up [...]