FIFA wants to cap agents’ income

0

John Madden, who will forever be synonymous with football, died on Tuesday at the age of 85. A Super Bowl-winning coach with the Oakland Raiders who won 16 Emmy Awards as a legendary TV broadcaster, Madden’s name and personality later helped Electronic Arts create the ‘Madden NFL’ video game series that is sold over 130 million copies.



FIFA is making changes that will take a big chunk of agent revenue.

The organization that oversees the international football competition for limit agent commissions to 3% of player salaries and 10% of transfer fees.

Top agents have threatened legal action if FIFA implements the plan.

  • FIFA said agents scored $ 500.8 million transfer fees this year, a slight increase from the sum of $ 497.5 million in 2020, despite total international transfer expenses rising from $ 5.2 billion in 2020 to $ 4.3 billion in 2021.
  • In an unspecified incident, an officer won 118% transfer compensation paid by a German club to a French club.
  • FIFA President Gianni Infantino said training clubs won around 1% of global transfer spending in 2019, while agents won 10%.

Intermediaries everywhere

FIFA also said that in 48 cases, teams and players involved in a transfer paid a representative. For transactions under $ 500,000, the median agent fee was 18.8% of the total.

The Premier League and the European Club Association have both pushed for stricter rules on agents. FIFA has removed limits on agent compensation and other regulations regarding who can act as an intermediary, but is now in the process of changing course.

Yukihito Taguchi-USA TODAY Sports / Design: John Regula

The Tokyo Olympics faced a series of issues related to the global pandemic, but the final bill is far lower than previous estimates.

Summer games Cost organizers approximately $ 13.6 billion, $ 1.8 billion less than a previous forecast of $ 15.4 billion.

Much of the reduction was due to lower staffing levels, as no fans were allowed to attend. However, this same restriction cost the Olympics $ 800 million in ticket sales.

  • The Tokyo Organizing Committee predicted a total cost of $ 6.4 billion during his first bid for the Games in 2013. These costs have skyrocketed due to construction and the decision to postpone the event for a year.
  • Japanese sponsors have invested around $ 3 billion, and some would have complained that they saw little or no return on their investment.
  • The International Olympic Committee, which benefits from broadcast rights and sponsorship, contributed $ 800 million, while an additional $ 500 million came from Olympic partners.

The organizing committee paid around $ 5.9 billion to host the games – roughly equal to total revenue – with the Japanese government and the Tokyo Metropolitan Government covering the costs related to security measures introduced during the pandemic.

Final costs yet to be determined

Organizers said final figures would not be available until spring 2022 due to Work in progress on site and some contracts to be finalized.

The Tokyo Games were previously estimated to exceed the $ 15 billion spent by London in 2012 as the most expensive Olympics of all time.


PGA TOUR Superstore / Design: John Regula

Golf’s popularity increased during the pandemic, and nearly two years after the world was shut down, the sport still hovers for the stars.

In 2020, golf had its the biggest net increase since 1997 to over 60 million turns, with 3 million people taking the course for the first time. Nearly 500 million Sleeves were played last year.

This year, the National Golf Foundation found that the total number of rounds played in the United States to go past the number of rounds played in 2020 by 4% to 5%. NGF President and CEO Joe Beditz predicts that the total number of rounds played in 2021 will be 18% higher than in 2017-2019 – the average before the pandemic.

Invest in sport

From professional golfers to local golf courses, businesses around the world want a share of the success.

  • the PGA Tourthe stock market jumped almost 14% for each event, totaling $ 427 million, thanks to new sponsors and distribution agreements. the LGPAThe purse jumped 12% to nearly $ 86 million.
  • Lamborghini, known for its sports and luxury vehicles, announced the development of golf carts in October.
  • In November, SoftBank’s Fortress Investment Group purchased Accordia Golf for $ 3.5 billion.

Companies already established in the golf industry are also benefiting.

the PGA Tour Superstore, the industry’s largest retailer, told Forbes its business has grown by around 70% over the past two years. Last month, Callaway Golf reported that its third quarter revenue increased 80% year-on-year for $ 856 million.

William Bretzger-USA TODAY NETWORK / Design: John Regula

Omicron’s spike in COVID cases could spoil pre-pandemic certainty for the gym industry: Members flock to start New Years resolutions related to fitness.

The seven-day moving average of COVID cases listed by the CDC is at its highest level since January 2021. Business tracking company Placer.ai said gym visits tended to increase between Thanksgiving and the first week. December compared to 2019, but recent preliminary data has shown a decrease in pedestrian traffic.

Ethan Chernofsky, vice president of marketing at Placer.ai, told Front Office Sports that weekly gym visits “are already affected by the latest COVID variant.”

While the recovery of brick and mortar gyms has been slow, it has been far better than the doldrums at the start of the pandemic.

Gym rebound threatened

  • Planet Fitness, the nation’s largest publicly traded gym company, has seen revenue increase and is back in expansion mode, adding up to 120 locations by the end of the year. Its action is up 60% compared to March 2020.
  • Globally, gyms, studios and in-person fitness classes saw their revenues drop 37% in 2020, according to the Global Wellness Institute. GWI projected that consumer spending for physical activities – which includes fitness facilities – to reach $ 907.7 billion in 2022, exceeding 2019.
  • Crunch your fitness opened its 400th location in November, and visits to existing gyms increased 63% from September 2020 to October 2021, per Placer.ai.

Mask warrants have been reinstated in several jurisdictions, but the industry doesn’t expect anything close to the dramatic drop that ravaged fitness facilities in 2020.


  • The NFL will require members of the media will receive a COVID-19 booster injection starting January 12 and continuing until the Super Bowl on February 13.
  • The Metro Nashville Sports Authority is gauge interest in a professional female sports team. The organization agreed to pay $ 75,000 to a group of consultants to assess levels of interest in various sports in Music City.
  • The next phase of an equal pay case brought by the United States women’s national football team is set for March 7, when the team will present their oral arguments in their appeal. The original lawsuit was dismissed in May 2020.
  • For a club in debt over a billion dollars – a calamity that forced Lionel Messi to leave – Barcelona appear to have no problem spending again. Subscribe to the Sports section for more on the latest La Liga squad transfer.

* All times are EST, unless otherwise noted.
* Dimensions / lines subject to change. The T & Cs apply. See draftkings.com/sportsbook for details.

Do you think FIFA should reform its transfer market?

Tuesday’s response
65% of respondents pay attention to Super Bowl commercials.



Source link

Share.

About Author

Comments are closed.