Recession forces football club to close stand

An English football club is being forced to close a stand at its 25,000-seat stadium to cut costs, in what could be the first of many similar moves at other clubs, a sports business expert predicts. The affected club, Darlington F.C., is currently in seventh place in League Two, however, it slumped into administration last week following problems attracting crowds to the home matches.

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Abramovich spending $342 a minute on Chelsea

Russian billionaire Roman Abramovich is spending more than £240 ($340) per minute on his London football club, Chelsea FC, fresh figures have revealed. Abramovich, who took over the Stamford Bridge club in 2003, has since poured £710 million ($1.03 billion) into rejuvenating the team — an amount that equates to the incredible $342 per minute

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Chelsea count cost of managerial sackings

Chelsea posted losses of £65.7 million ($93.91m) as they were left to count the cost of managerial departures. The results for the financial year ending on June 30, 2008 revealed that £23.1 million ($33.02m) had been paid in compensation to former Blues managers Jose Mourinho and Avram Grant and five coaching staff. They do not include the payout that Luiz Felipe Scolari is set to receive, reported to be in the region £8 million ($11.44m), following his sacking this week.

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