In the first sale, Sports.com has agreed to terminate its domain name for ‘a significant, but undisclosed sum’ paid by SportsLine.com, which will enable the dotcom to sell the rights to the Sports.com domain to a third, unrelated, party.
And in a separate deal SCG Enterprises Ltd, Sports.com’s betting arm, has been sold to listed online betting site ukbetting.com for £670,000, saving 11 jobs.
Administrator Bruce Mackay from Baker Tilly said ‘commercial sensitivity’ meant he could not disclose the sum paid for termination of the sports.com domain license, but said the amount ‘comfortably exceeded our target of a seven-figure sum for the main domain and the betting service’.
Negotiations are still continuing for the sale of Sports.com’s content provision business and for Sports.com subsidiaries in France, Germany, Italy and Spain, although they are not in administration.
Sports.com went into administration on 31 May following a dive in advertising revenues.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children