Word: club
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Dates: during 2000-2009
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...President F.W. de Klerk, who also served as deputy president under Mandela, has begun a campaign to highlight what he claims is ANC abuse of power. "Everywhere the dividing lines between the state and the ruling movement are becoming more blurred," De Klerk told the Cape Town Press Club in June. The "rights and values" which he and Mandela enshrined in the country's 1994 constitution, "are under severe pressure," he said. It says something for how far the ANC has fallen from the moral high ground that in today's South Africa, a former apartheid ruler can re-invent...
...today's Premiership highflyers is the fate of Leeds United, once among them. The northern English powerhouse overstretched its credit lines in order to sign players that would keep it in contention for English and European honors, and then disaster struck as a run of disastrous form saw the club miss out on Champion's League qualification. The resulting loss of projected revenues forced an emergency sell-off of star players, but that failed to avert a financial collapse, and the once mighty Leeds United now languishes in England's third-tier league. Just as wealth and success...
...Commercial income such as sponsorships and worldwide sales of replica shirts and other branded merchandise: a couple of years ago, Real Madrid surpassed the earnings of Manchester United, in part because the Spanish club earned 42% of its revenues from commercial income, compared with Manchester United's 27% from the same source. The drive to raise commercial revenues has prompted Real Madrid to seek celebrity stars such as David Beckham (and now Ronaldo), knowing that their presence on the team can sell hundreds of millions of dollars' worth of replica shirts...
...Minister Thaksin Shinawatra, who last year acquired Manchester City. Chelsea, with its 42,000-seat stadium, might be considered an underperforming asset from a strictly business point of view; its revenues in the years since Abramovich took over are far lower than what he has invested. But owning the club may be less a business venture than a vanity investment for the Russian billionaire...
Staying within reach of the top teams requires spending more money each season to keep pace with their efforts to concentrate the world's best talent in their team. And if a club is unable to attract a prestige investor, it becomes essential to expand revenue - most importantly by increasing stadium capacity. Arsenal two years ago moved from the 38,000-seat Highbury to the 60,000-capacity Emirates Stadium, which helped the club double its annual revenues to $180 million. The problem, of course, is that building a new stadium takes massive capital investment, and Arsenal recently admitted that...