World Snooker in Commercial Restructuring
Professional snooker’s governing body is to undergo radical and exciting reform, taking the sport forward commercially.
Fundamental proposals to restructure the Bristol-based World Professional Billiards and Snooker Association have been approved by the Board and will be implemented in the coming weeks.
Strategic changes mean the break up of WPBSA into its constituent parts. World Snooker Ltd will be activated as the new operations company, becoming the vehicle for all commercial activity, while WPBSA Ltd (the governing body) will be responsible solely for rules and regulations, discipline and the development of the game. A brand new forum for communication and player representation will be created via a Players Advisory Board.
In line with recommended Corporate Governance, the Boards of both WPBSA Ltd and World Snooker Ltd will include independent non-executive directors from the business world.
Charged with exploiting the commercial rights of the sport, World Snooker Ltd intends to attract professionally equipped and proven independent ‘Investor Partners’ who will bring their skills and expertise to the business.
A WPBSA spokesman said: 'Everyone in snooker agrees on the need for change.
'This long overdue restructuring of the company will give us greater credibility, clarity of vision and a proper base on which to build. With our intentions for World Snooker, we will have the freedom to capitalise on all our commercial properties and our new ‘Partners’ will bring a level of professional management to snooker that has never been seen before.
'Snooker remains second only to football in terms of television viewers. We believe there are potential investors out there. Now we need to convince them we have a sport worth investing in.'
For more details contact:
World Snooker Media Office on 0117-317-8200
www.worldsnooker.com
Fundamental proposals to restructure the Bristol-based World Professional Billiards and Snooker Association have been approved by the Board and will be implemented in the coming weeks.
Strategic changes mean the break up of WPBSA into its constituent parts. World Snooker Ltd will be activated as the new operations company, becoming the vehicle for all commercial activity, while WPBSA Ltd (the governing body) will be responsible solely for rules and regulations, discipline and the development of the game. A brand new forum for communication and player representation will be created via a Players Advisory Board.
In line with recommended Corporate Governance, the Boards of both WPBSA Ltd and World Snooker Ltd will include independent non-executive directors from the business world.
Charged with exploiting the commercial rights of the sport, World Snooker Ltd intends to attract professionally equipped and proven independent ‘Investor Partners’ who will bring their skills and expertise to the business.
A WPBSA spokesman said: 'Everyone in snooker agrees on the need for change.
'This long overdue restructuring of the company will give us greater credibility, clarity of vision and a proper base on which to build. With our intentions for World Snooker, we will have the freedom to capitalise on all our commercial properties and our new ‘Partners’ will bring a level of professional management to snooker that has never been seen before.
'Snooker remains second only to football in terms of television viewers. We believe there are potential investors out there. Now we need to convince them we have a sport worth investing in.'
For more details contact:
World Snooker Media Office on 0117-317-8200
www.worldsnooker.com