On-line sports retailer Kitbag may take new path

UK-listed Findel plc is reportedly considering 'demerging' Kitbag, its online retailer of sportswear and official football kits.

The subsidiary manages the online retail operations for several European clubs, including Barcelona, Manchester United and Real Madrid. Last year it recorded revenues of £58 million, up from £48 million, and made operating profits of £1.87 million, up 9%.

On Monday Kitbag announced a four-year deal to manage the new UEFA Champions League online store for Europe and Asia.