Tag Archives: entrepreneur

David Beckham in talks over MLS ownership

Beckham in talks over MLS ownership



22:50 GMT, 15 December 2012

David Beckham is in talks to become
the owner of a Major League Soccer club in the United States and is
expected to buy a controlling interest in a team based in New York,
Miami or Los Angeles.

But contrary to reports from the US
that Beckham will be part of deal involving Manchester City buying an
MLS franchise in New York, sources close to the former England captain
told Inside Sport: 'That's not really a partnership he'd envisage.'

Talks: David Beckham

Talks: David Beckham

Beckham, 37, is a lifelong Manchester United fan who played for the Old Trafford club for 10 years before moving to Real Madrid and then LA Galaxy. In his final match for Galaxy earlier this month, he helped them to win the MLS Cup. He is considering his next move and may play for one last club for a short period before turning his attention to club ownership in the US.

Sources say Beckham is likely to buy a controlling stake in an MLS team in partnership with Simon Fuller, the entertainment entrepreneur whose company, XIX Entertainment, represents Beckham.

City have denied reports that owner Sheik Mansour is close to sealing a $100million deal to buy a New York-based MLS 'partner club' for City in Queens, east of Manhattan.'Manchester City are not buying an MLS club,' said a statement.

The idea that City might explore buying overseas clubs or working in partnership with them is far from fanciful. Two years ago, the club's then chief executive, Garry Cook, held 'very preliminary discussions' with MLS commissioner Don Garber over a possible tie-up that could fit into City's 'international expansion'.

Cook's replacement, Ferran Soriano, formerly with Barcelona, previously held talks with the MLS about a Barcelona-owned MLS club, and has written supportively about big clubs having 'franchise' partners in other leagues.

Ticket touts were prevented from making a killing on the summer's Olympics after a major police clampdown but they are having a last hurrah for 2012 by reselling seats for tonight's BBC Sports Personality of the Year show at up to 10 times face value.

The BBC sold around 13,000 tickets to members of the public at 50 each for the glitzy bash at ExCel in east London, where Bradley Wiggins is hot favourite to pick up the main award.

A BBC spokeswoman said that ticket terms and conditions prohibited reselling. But it is not illegal to resell tickets for such events.

Ticket brokers on Seatwave, Viagogo and eBay were among those advertising tickets at massively inflated prices.

At Seatwave, a pair of tickets worth 100 at face value were being offered for a total 1,197.65, including a 179.64 booking fee, 4.94 handling charge and 15.06 insurance.

Viagogo had tickets for 240 each plus 72 booking fee per pair plus 4.95 shipping, while eBay had a variety of seats from 180 each.

The future of the New York Marathon – the world's largest – is uncertain after entry registration for the 2013 event, due to open on Wednesday, was indefinitely suspended. This came as race organisers continue talks with insurers over the circumstances in which the 2012 event was called off in the wake of Hurricane Sandy.

The race was cancelled not because it was impossible to stage but because it was deemed inappropriate. This may affect any insurance payout and, with entrants claiming refunds, the organisers' ability to plan for next year has been severely hit.

Allen Stanford found guilty of 4bn fraud

Disgraced Stanford faces life behind bars after being found guilty of 4bn fraud

Disgraced financier Allen Stanford has been found guilty of orchestrating a massive 4.6billion fraud by a court in Houston, Texas.

Stanford set up a series of $20m (12.7m) cricket tournaments between England and West Indies in 2008 and announced the deal with the ECB by landing a helicopter at Lord's.

Jurors reached their verdicts against Stanford during their fourth day of deliberation, finding him guilty on 13 of the 14 charges except a single count of wire fraud.

Appeal: Stanford's lawyers have said they will contest the verdicts

Appeal: Stanford's lawyers have said they will contest the verdicts

Stanford, who was once considered one of the wealthiest people in the US, looked down when the verdict was read.

He faces up to 20 years for the most serious charges against him, but could spend longer than that behind bars if US District Judge David Hittner orders the sentences to be served consecutively instead of concurrently.

His mother and daughters, who were in the federal courtroom in Houston, hugged one another, and one of the daughters started crying whnen the verdicts were read out.

'We are disappointed in the outcome. We expect to appeal,' said Ali Fazel, one of Stanford's attorneys after the hearing.

Howzat! Stanford famously perched Matt Prior's wife Emily on his knee during the England v Middlesex Stanford Super Series match in 2008

Howzat! Stanford famously perched Matt Prior's wife Emily on his knee during the England v Middlesex Stanford Super Series match in 2008

Prosecutors called Stanford a con artist who lined his pockets with investors' money to fund a string of failed businesses, pay for a lavish lifestyle that included yachts and private jets, and bribe regulators to help him hide his scheme.

Stanford's attorneys told jurors the financier was a visionary entrepreneur who made money for investors and conducted legitimate business deals.

Stanford, 61, who's been jailed since his indictment in 2009, will remain incarcerated until he is sentenced.