£1.7m success for Rooney’s off-field team
The success of footballer Wayne Rooney seems to be reflected in his management company Formation Group, which reported a strong set of full-year results.
The sports marketing and management business reported an 11 per cent increase in pre-tax profits before amortisation to £1.7m for the 12 months to 31 August on sales of £14.9m compared to £12.6m last year.
The company is divided into four sections — sports marketing, wealth management, footballers representation and legal and professional services.
Representation was on a winning streak, making £4.9m in sales compared to £4m last year.
Formation Group currently acts for 200 players, 118 of whom have played at international level. The company refuses to reveal who the players are, but Wayne Rooney is known to be one of its clients, as is former Manchester United goalkeeper Peter Schmeichel.
Peter Ashworth, of stockbrokers Charles Stanley, pointed out: “The group has successfully diversified its revenues in order to reduce its dependence upon representation.”
The sports marketing division includes outdoor advertising and media for corporate brands and straight-forward marketing aimed at brands wanting to promote themselves through the world of sport.
FIFA has appointed the group’s marketing services division to oversee the delivery of its newest competition, the Interactive World Cup. Sales increased by 22 per cent to £6.7m and the division’s contribution to the group was £1.3m.