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Fact of the day
Frank Kugler won four Olympics medals in freestyle wrestling, weightlifting and tug of war at St Louis in 1904, making him the only competitor to win a medal in three different sports at the same Games. He claimed a silver medal in the heavyweight category in wrestling, bronze in the two hand lift and all-around dumbbell events in weightlifting and another bronze in the tug of war competition as a member of Southwest Turnverein of Saint Louis No. 2 team. He is recognised as an American by the International Olympic Committee although he was a German national at the time of the Games.
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The World Class Swimming Programme, one of the five aquatic disciplines, within British Swimming is seeking a successful leader to strategically manage the Sports Science and Sports Medicine (SSSM) programme.
Chime to take over Coe consultancy firm in multi-million pound deal
Saturday, 27 October 2012
October 27 - International sports marketing group Chime Communications is set to take over the management consultancy firm of Sebastian Coe in a deal that could earn the London 2012 chairman £12 million ($19.3 million/€14.9 million).Coe's firm, the Complete Leisure Group Limited (CLG), owns all the rights to his income streams over the next 15 years including commissions, royalties and consulting income.
The deal means Chime, which made over £30 million ($48.3 million/€37.3 million) from a number of contracts on London 2012, will acquire Coe's 93 per cent interest in CLG.
The deal is also set to see Coe become chairman of Chime's sports marketing arm, CSM Sport & Entertainment, with the current chairman Alan Pascoe to become President.
"Lord Coe is a hugely respected figure in the global sports market and he will bring enormous value to CSM's international capabilities," said Chime chief executive Christopher Satterthwaite.
The deal will see Chime will pay an initial £1.5 million ($2.4 million/€1.9 million) in cash together with deferred consideration payable over the period to March 2017 on the achievement of various financial targets, which is set to give Coe around £12 million ($19.3 million/€14.9 million).
"I am delighted to be joining such a dynamic group with such a breadth of sporting interests and skills," said Coe.
"I hope my experience will help develop this exciting new business and I am looking forward to the challenge."
Sebastian Coe’s income streams have skyrocketed following his role as London 2012 chairman The 56-year-old, double Olympic 1,500 metres champion, is projected to be worth £1.5 million ($2.4 million/€1.9 million) in 2013 through ambassadorial and consulting contracts, his contract with Nike, after-dinner speeches and media work.
This annual income is expected to grow to £2.5 million ($4 million/€3.1 million) in 2015.
Chime expects Coe's involvement to be worth over £9 million ($14.5 million/€11.2 million) in profit to the group.
The deal comes as Coe prepares to be elected British Olympic Association (BOA) chairman next month, a position for which he is the only candidate.
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Last month's Boston Marathon bombings showed just how vulnerable some events can be to terrorist attacks but Helmut Spahn, executive director of the International Centre for Sport Security, claims that sharing information and early planning can help reduce the risk of such incidents in the future
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