Today : Tuesday - Sep 23, 2014, 05:50am (GMT+5.5)
All News  
Top News
National News
International News
Business News
Sports News
   » Cricket
   » Football
Entertainment News
Sci - Tech
Politics News
Health & Fitness
Gulf News
::| Latest News
News in Pictures

Seemingly unfazed at being ousted from the Asian Athletics Association, scam-tainted Suresh Kalmadi on Monday said losing the presidential re-election bid to Qatar’s Dahlan Jumaan Al-Hamad has actually given him a chance to work at the “grassroots” level.
“I have no issues today and I congratulate Mr Al-Hamad for being elected as President. I am rather relieved that I will be able to work at the grassroots level in athletics,” Mr. Kalmadi said after losing the vote during the ongoing AAA Congress in Pune.

Sports News

Slim becomes largest shareholder in Spanish soccer club

Monday - Nov 19, 2012, 12:47pm (GMT+5.5)
[+] Text [-]

Oviedo (Spain) - Mexican telecommunications magnate Carlos Slim has become the largest shareholder in struggling Spanish soccer club Real Oviedo, providing much-needed funds just ahead of a deadline for raising capital.

Inmobiliaria Carso S.A., a unit of Slim's global conglomerate Grupo Carso, said it invested 2 million euros ($2.5 million) in the lower-tier club - founded in 1926 - to keep it afloat.

The club needed to raise 1.9 million euros ($2.4 million) by a midnight Saturday deadline.

Minority shareholders - mostly fans from around the world - had already covered the shortfall by raising nearly 2 million euros and Slim's contribution was the finishing touch on rescuing the team from bankruptcy.

"This group, which appreciates the unique and difficult circumstances which Real Oviedo is experiencing, its history within Spanish football, and especially the extraordinary fans who support it, has decided to make a significant and decisive commitment towards this undertaking," Inmobiliaria Carso S.A. said in a statement Saturday.

Forbes magazine said in March that Slim remained the richest person in the world for a third consecutive year in 2011, followed again by Microsoft founder Bill Gates and investor Warren Buffett.

Real Oviedo has played 38 seasons in the Spanish soccer league's first division but, due to its financial woes, has been relegated to lower tiers since 2001.


Rating (Votes: )   

blog comments powered by Disqus

Other Articles:
Davis Cup results (19th Nov, 2012)
Stepanek stars in Czech Republic's historic Davis Cup win (19th Nov, 2012)
Czech Republic win Davis Cup (19th Nov, 2012)
Hamilton wins in Texas as Vettel fails to secure title (19th Nov, 2012)
CK Nayudu cricket: Karnataka A on the mat (19th Nov, 2012)
Hulk to return for Zenit’s Malaga clash (19th Nov, 2012)
Jimenez completes hat-trick at Hong Kong Open (19th Nov, 2012)
Nicole Scherzinger and Tulisa continue ‘style battle’ in ‘X-Factor’ (18th Nov, 2012)
Kelly Brook ditches sexy Crazy Horse look for unflattering leggings and puffa jacket (18th Nov, 2012)
Victoria Pendleton `happy to wear skimpy outfits` on Strictly Come Dancing (18th Nov, 2012)
Cook, Prior keep England hopes alive (18th Nov, 2012)
Vettel zooms to pole at US Grand Prix (18th Nov, 2012)
Zenit 'regret' Shunin attack (18th Nov, 2012)
Hamilton hopeful of victory after front row spot (18th Nov, 2012)
UK Govt. urged to ban sports stars from making millions through 'junk food' promotion among kids (18th Nov, 2012)
Froch defends IBF super-middleweight title by KO'ing Yusaf Mack in third round (18th Nov, 2012)
Freddie KO'D booze in bid to train for ring debut! (18th Nov, 2012)
Strictly` making me fatter, says Victoria Pendleton (18th Nov, 2012)
Atletico Mineiro eyes Scolari's return (18th Nov, 2012)
Indian women finish fifth at World Team Squash (18th Nov, 2012)
LOCOG pledges support to Rio 2016 (18th Nov, 2012)
Kuerten beats Djokovic in Rio exhibition (18th Nov, 2012)
Cook fights on as England lose top three (18th Nov, 2012)
Johar Cup hockey: India draw with Malaysia (18th Nov, 2012)
Quraishi quits, IOA nomination scrutiny postponed (18th Nov, 2012)

Contact Us | Advertise with Us | Privacy Policy | Disclaimer | Terms of Use