Sports Internet Provider Sells For £1
By sam
Sportal, the sports Internet provider once valued at £275 million has sold itís website for just one pound after failing to find new funding. French pay-TV provider Canal Plus pulled out of a planned £275m acquisition of the company after investors voiced concerns about the industry.

Shareholders at Sportal previously included BskyB, Bernard Arnault the French Billionaire and Italian Prime Minister Silvio Berlusconi. The company had also aquired the rights top a number of top sporting sites, including Juventus, Bayern Munich and the South African Rugby Union Football Union.

Despite attracting users in millions, the sites failed to generate enough revenue and was saved from collapse once by a £5 million cash injection from investment house Dawnay Day Lander.

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