Malaysian billionaire Vincent Tan hired CIMB Group Holdings Bhd. to explore an initial public offering of Cardiff City Football Club (Holdings) Ltd. in Singapore, a person familiar with the matter said.
The mayor of Bridgeview, Illinois, said building a taxpayer-financed arena for the billionaire owner of Major League Soccer’s Chicago Fire would bring hotels and restaurants to his suburb. Instead, the town has more than doubled property taxes and may raise them again to pay more than $200 million in stadium debt.
Cycling’s top official said he opposes the so-called World Series Cycling project that was aiming to generate more revenue by holding races in Asia, South America and the U.S., and he’ll look for other ways to support professional teams financially.