British sports paper backed by Desmond ceases trading
A British newspaper backed by the billionaire Irish financier Dermot Desmond has stopped trading after failing to secure further investment.
The Sportsman was only launched in March but went into administration last month after spending its budget of €17 mi l l ion. The newspaper stopped trading last Friday.
Desmond, one of Ireland’s wealthiest men, was thought to be keen on rescuing the business at one point, although the firm’s administrator has since said the businessman was not interested in investing further capital into the venture.
Other investors in the newspaper...
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine