Feeds

Sportal hit by ‘challenging time’

Needs an injury-time equaliser

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

There are fears about the future of Sportal's European operations amidst these uncertain economic times.

The sports portal operation is currently in negotiation with shareholders and employees about how to move forward.

Although no redundancies have been announced the company has not ruled out job cuts in the future.

In a statement the company said: "It is an exceedingly challenging time for all.

"Having completed a recent round of financing and a major re-structuring of the group, we have been faced with significantly deteriorating market conditions.

"Sportal expects the impending recession to last through 2002 and accordingly it is difficult to predict when any upturn in market conditions will occur," it said.

This grim assessment only applies to Sportal's European operations and does not affect Sportal Asia, Sportal Australia or Sportal South Africa, which are separate companies.

In August, the sports dotcom secured £8 million of new financing which it claimed would "see [it] through to profitability in early 2002".

That now seems as likely as Southampton winning at home. ®

The Power of One Infographic

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.