Sportsman goes into administration after sales crash

by Joe Lepper Brand Republic 20-Jul-06, 15:55

LONDON - Daily sports betting newspaper The Sportsman is facing an uncertain future after being placed in administration, just four months after its launch.

The paper will continue to be printed while the directors of its publisher Sports Betting Media attempt to seek extra funding to continue in the long term.

Sports Betting Media had hoped that the recent growth in popularity of poker, online gambling, and bolstered audiences created by events such as the World Cup, would benefit The Sportsman, as well as appealing to more traditional gambling and horse racing enthusiasts.

However the paper's circulation has fallen short of its 40,000 target and is now only around half that figure.

A spokesman for The Sportsman said: "This move will help us buy some more time while we talk about new investment opportunities.

"The other option would have been to liquidate the assets of the group, which is a route we have not decided to take at this time, while the talks progress.

"We will continue to bring out the paper while the dialogue continues."

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