sold

NFL owners have approved the $9.612bn record sale of the reigning Super Bowl champions Seattle Seahawks to a group led by billionaire Vinod Khosla.

The deal, which required the support of at least 24 of 32 owners, is currently the second highest amount paid for a franchise in North American sports history.

The estate of Paul G. Allen, which inherited the NFL team after the death of the Microsoft co-founder in 2018, agreed to terms with the Khosla family on 11 July after a search for a new owner.

And now approved, the sale surpasses the $6.05bn the Washington Commanders fetched when they were sold in 2023, although the NBA’s Los Angeles Lakers were subsequently sold for $10bn in 2025 and are currently in the process of changing ownership again for a reported $12.5bn.

“We are honoured to be entrusted as the next stewards of the Seattle Seahawks. How often do you get to buy a franchise that just won the Super Bowl?” said Khosla.

“We are incredibly lucky and humbled by this gift, I would say, from the Allen trust.”

“We look forward to building on the winning legacy Paul Allen created and to earning the trust of the Seahawks organisation and fans everywhere.”

Speaking at a press conference on Wednesday, Khosla, who will have to relinquish a minority stake in the San Francisco 49ers as part of his agreement to buy the Seahawks, added: “The task ahead is actually pretty simple – keep the winning streak alive, get another Super Bowl.

“Our approach is generally going to be long-term focused, that’s our inclination always. So, keep winning, take a long-term approach, and learn a lot. We don’t know enough, and the other owners have been incredibly welcoming and willing to teach us, so we’ll learn a lot.

“We’ll learn from management and see what they are recommending.”

Khosla, 71, was the co-founder of US technology company Sun Microsystems and the founder of the venture capital firm Khosla Ventures and has a net worth of $13.2bn, according to Forbes. , external

Former owner Allen saved the Seahawks from relocating to Southern California when he bought the team from Ken Behring in 1997.

His sister, Jody Allen, took control of the Seahawks and the NBA’s Portland Trail Blazers as chair of both teams upon her brother’s death with a directive to eventually sell both and donate the proceeds to charity.

In the 29 seasons in which Paul or Jody Allen were in charge, the Seahawks made the play-offs 17 times and won two of the four Super Bowls they contested.

Dodgers president Stan Kasten wants to make it clear that majority owner Mark Walter will not sell the team.

Following Walter’s decision to sell his majority stake in the Lakers, questions about his majority ownership of the Dodgers were raised amid his company’s financial difficulties, which include a federal probe of his businesses. But Kasten said it will have no effect on Walter’s majority ownership of the Dodgers.

“The Dodgers are not being sold,” Kasten said. “They’re not going to be sold. They’re not for sale. There’s no process that has been started to sell [the franchise]. Period. … I just wanted this to be clear because this question keeps coming up. I understand the questions; I do. The Lakers thing was what we call sui generis, one of those one-of-a-kind things. Really has nothing to do with what’s happening with [the Dodgers] or the other teams.

“I wanted you to hear it definitively: We are not selling the Dodgers. We are continuing with our plans going forward, like we always have had them. This comes from Mark. He’s gung-ho about continuing to try to win, again, including next year, subject to whatever next year’s climate looks like.”

Kasten added that he doesn’t expect the Dodgers’ operations to be interrupted, describing the franchise as “very stable, well-managed, and [with] very solid ownership.”

“I know nothing involving the Dodgers is part of the investigation,” Kasten said. “I’m promising you, when it’s over, you’re going to realize [things] are being mischaracterized. You don’t have to trust me, but I’m telling you.”

When Kasten was asked about reports Walter is trying to sell his stake in English Premier League team Chelsea FC and tried to cash out of lucrative TV deals with Charter Communications, he said they were mischaracterized.

“Those things don’t go together for a bunch of reasons I’m not going to get into today,” Kasten said.

Kasten took a similar tone when asked about reports of Walter having to repay insurance companies.

“I’m not in that part of the investigation,” Kasten said. “Things are going on behind the scenes, obviously, in connection with that. I’m not privy to all of them, don’t need to know, don’t want to know. But one thing we are all certain about: the sports portfolio is going to remain intact.”

Walter has additional ownership stakes in the Sparks, the Cadillac Formula One team, the Professional Women’s Hockey League and the Billie Jean King Cup tennis event.

“I can tell you from the guy running the team, knowing how the business runs and what it can support in terms of revenues and expenses — the Dodgers aren’t going anywhere,” Kasten said. “I feel that very strongly, and Mark feels even stronger than I do. I’m 74. I don’t know how long I’m going to be running it, but Mark, I think, is going to be running it a lot longer.

“I think Mark has done an extraordinary job as an owner, and all he’s ever cared about is providing the best experience in order to make us more money, to make this project successful,” Kasten added. “I think so far it has been; I expect that to continue far into the future.”

Past the halfway mark of the Olympic quadrennial, LA28 has passed its own halfway point for ticket sales.

LA28 announced Friday it sold more than 6 million tickets during its first two drops, accounting for more than half of the expected Olympic ticket availability.

The remainder of an estimated 10.5 million Olympic tickets will move to first-come, first-served sales beginning in 2027. Additional inventory across every sport will be added during the next stage and ticket limits will be lifted, but LA28 did not announce the opening date.

“Overall the level of enthusiasm, the interest in the Games, the excitement to commit this far out from the Games has all been really affirming for how LA28 is coming together and the excitement everyone’s feeling about it,” said Allison Katz-Mayfield, LA28’s senior vice president of Games delivery revenue.

More than 700,000 of one million $28 tickets were sold during the first two drops. While fans have clamored for tickets, many were disappointed and frustrated with high prices and limited availability that seemed to sell out almost instantaneously. Each LA28 ticket drop came with the fine-print condition of “subject to availability.”

LA28 wanted to be “conservative” with the initial inventory available during the first two drops, Katz-Mayfield said, because organizers didn’t want to sell tickets only to discover later that fans might be stuck with limited visibility of an event. For example, Crypto.com Arena’s footprint will be changed to accommodate artistic gymnastics, with up to six apparatuses on the floor along with areas for judges, broadcast positions and media. The seating plan, which will be different than ones used for Lakers games or concerts, is still being developed. The same goes for the planning of temporary venues.

“It’s a fan-focused approach from my perspective,” Katz-Mayfield said. “We don’t want to be in a position where we sell something that doesn’t equate to the experience that someone is expecting to have.”

LA28 said more tickets will be available on a first-come, first-served basis for every sport next year as organizers refine venue layouts. Tickets that appear unavailable one day could go on the market weeks later as organizers gain a clearer picture of setups. With first-come, first-serve purchasing, the ticketing platform will remain open continuously through the Games.

“If you’re one of those people that has a very, very specific idea of what they want and they don’t want to move off that at all … then continue to check back because we’ll have tickets on sale through Games time,” Katz-Mayfield said. “So you can check on that first day. But you could also check two months later, and it could be different.”

New sports remained a hit for fans, who scooped up all available tickets to softball, lacrosse, flag football and squash during the second drop, LA28 reported. All tickets available for Oklahoma City’s softball and canoe slalom events were sold through for both drops. More tickets for those events will be added in 2027.

Although many fans have their hearts set on a single, high-demand Olympic event, others might be open to discovering different sports during the Paralympics. Tickets for the Paralympics will also go on sale in 2027, beginning with a lottery for assigned time slots, similar to the first Olympic ticket drops. About 25% of the total 14 million tickets between the Games are earmarked for the Paralympics, which will be in L.A. for the first time.

The Paralympics are typically priced at much lower prices than the Olympics. The Paris Olympics had single tickets as high as $1,065 (980 euros in July 2024) for swimming and track and field and as low as $26 across all sports. Half a million tickets for the Paris Paralympics were $16 and half of all tickets were priced less than $27. There were also Paralympic ticket packages for multiple sports and families. The strategy paid off with approximately 2.5 million tickets sold, the second-most ever for a Paralympic Games, and a record 12 million total tickets sold between the 2024 Olympics and Paralympics.

Despite starting earlier than previous Games, LA28 said it is already on pace to surpass Paris’ sales record after the 2024 Games sold 5.39 million tickets through their second drop in May 2023. Paris sold 9.5 million Olympic tickets total.

Fans who registered for Olympics tickets will already be registered for the Paralympic lotteries and LA28 is working to open registration specifically for the Paralympics.

“[Don’t] forget how great the Paralympics are,” Katz-Mayfield said, “and how much opportunity there’s going to be there to see different sports, new sports, be a part of the Games, and see world-class athletes compete, maybe in a way that you haven’t seen before if you’ve only seen the Olympics.”

Selling millions of tickets before schedules or matchups are even set has “given [LA28] a lot of confidence in where we’re at today,” Katz-Mayfield said. The early ticket sales have given the private organizing committee a strong foundation for one of its largest revenue drivers.

Ticketing and hospitality are expected to cover almost $2.5 billion of LA28’s total $7.1-billion budget for the Games. It is the second-largest source of expected revenue to help cover what LA28 has promised will be a privately funded Games.

But Ferrari’s shares dropped the day after the Luce’s launch, following backlash over the car.

Amongst those criticising the car were Italy’s deputy prime minister Matteo Salvini and former Ferrari chairman Luca Cordero di Montezemolo, who said the car was “risking the destruction of a legend”.

Ferrari’s chief design officer Flavio Manzoni said in an interview in May that critics are part of the innovation process and that he believed people would come to appreciate the Luce.

The company has not disclosed its target for Luce sales but, according to a Financial Times report, it has hit this year’s goal thanks to strong demand from China.

Ferrari did not respond to a BBC request for comment on the FT’s report,

Sotheby’s said in a statement, external that the auctioned vehicle marked an “unbeatable opportunity” to own the first production car of the Luce.

The car has special wheels, customised brakes and a white finish.

The charity sale marks a “tangible expression of innovation, responsibility, and long-term vision for future generations,” Sotheby’s said.

Ferraris often attract some of the highest prices at car auctions.

A bespoke Ferrari Daytona SP3 supercar raised $26m for the carmaker’s education initiatives at an auction in 2025. At the time it set an auction record for the highest-price paid for a new car.

The current record for the highest price paid at auction was an ultra-rare 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which was sold for $142m in 2022.

The Los Angeles Lakers are to be sold for a reported record-breaking $12.5bn, external (£9.3bn) – less than a year after Mark Walter took a majority stake in the NBA franchise.

Josh Kushner, the brother of US President Donald Trump’s son-in-law Jared, and former Disney chief executive Bob Iger are buying the controlling interest in one of the world’s most iconic sports teams.

Walter bought his share, reportedly worth an estimated $10bn (£7.45bn), from the Buss family in a deal that was unanimously approved by the NBA Board of Governors in October 2025.

Kushner and Iger said in a statement: “As lifelong NBA fans, we are deeply honoured for the opportunity to become stewards of the Los Angeles Lakers, one of the most iconic sports franchises in the world.

“We have immense respect for the leadership and vision of Jerry and Jeanie Buss.

“Our long-term commitment is to build on that foundation, compete at the highest level, and serve this extraordinary team, its fans, and the city of Los Angeles.”

More to follow.

The Walt Disney Co. said Wednesday it has sold out the commercial time for ESPN’s telecast of the 2027 Super Bowl, which airs on ABC Feb. 14.

Hugh Johnston, chief financial officer for Disney, announced the sellout on the company’s earnings call. In addition to ABC, the game from SoFi Stadium in Los Angeles will air on ESPN, and have an alternative ESPN feed hosted by Peyton and Eli Manning. The game will be streamed on the ESPN app and the NFL+ app.

ESPN, which has carried NFL games since 1987, has never produced a Super Bowl. ABC last aired the game in 2006, when the network had its own sports division.

The Super Bowl is perennially the most watched TV event of the year, bringing in a huge pot of revenue for the media company holding the rights. Fox said it took in more than $800 million across its platforms for the 2025 game that saw the Philadelphia Eagles win 40-22 over the Kansas City Chiefs.

Disney did not divulge a price for the commercial time, although reports said the company was seeking $10 million for a 30-second spot. NBC sold several commercials at that rate last year.

Johnston said Disney sold Super Bowl spots to 58 brands across 34 product categories, including financial services, candy, personal care and software. Nine of the brands are in the game for the first time.

As the rest of traditional TV has seen ratings diminish, the Super Bowl has remained resilient, setting a viewership record in 2025, with 127.7 million viewers watching on Fox and its streaming platform Tubi, according to Nielsen. Last season’s contest drew 125 million viewers on NBC, Telemundo and Peacock.

When ABC had Super Bowl XL in 2006, the Pittsburgh Steelers’ 21-10 win over the Seattle Seahawks scored 90.7 million viewers. Nielsen did not include out-of-home viewing in its data at the time.

Live sports has become attractive to advertisers as it is one of the few ways to reach a massive audience in real time.

A Portland teenager found a random old Lakers jacket in a Goodwill bin in January.

He paid $3.07 for it.

Seven months later, the item sold at auction for $89,600.

Turns out the old jacket wasn’t so random after all.

Verified by Sotheby’s auction house, it was a warmup jacket worn by NBA legend Wilt Chamberlain at least three times. That includes during the 1972 NBA Finals in which the Lakers defeated the New York Knicks in five games and Chamberlain was named the series MVP.

“This is Truly a once in a lifetime find,” Quinn Brown wrote on Instagram in January. “I am so grateful this jacket has landed in my hands.”

Brown, 19, has been reselling his thrift-store clothing finds online for the past three years. When he saw someone toss the short-sleeved Lakers jacket with “Chamberlain” on the back into a bin of clothes outside Goodwill, Brown grabbed it for his online shop.

Then he did some research. Brown found an online photo of Chamberlain wearing a jacket that looked very similar. He also discovered that the four-time league MVP’s jersey measurements closely matched those of the jacket.

This undated photo provided by Sotheby’s shows a warmup jacket worn by Wilt Chamberlain during the 1972 NBA Finals that was found in an Oregon thrift store.

(Sotheby’s via Associated Press)

After he posted a photo of the jacket online, Brown was contacted by Sotheby’s about consigning it for auction. He took the auction house up on the offer, and the jacket was whisked away in an armored vehicle.

Sotheby’s photomatched the jacket to three images: an undated photo from the 1972-73 season, a photo from a January 1973 game and a photo from a 1972 home game against the Knicks that was determined to be from either Game 1 or Game 2 of the NBA Finals.

Chamberlain had 12 points and 19 rebounds in Game 1, a 114-92 Lakers loss, and 23 points and 24 rebounds in Game 2, a 106-92 Lakers victory.

“I didn’t even think that finding something like this was possible,” Brown told the Associated Press. “I got very, very lucky.”

Sotheby’s estimated that the jacket could go for $150,000 to $250,000. While the final amount wasn’t quite that high, Brown told KIRO-FM (97.3) in Tacoma, Wash., that he’s “obviously happy” after making back 29,000-times his initial investment.

“$90,000 is pretty good,” he said. “I was hoping it would go higher. A little surprised, sitting there the last five minutes it didn’t really get any bids. So that was a little disappointing. But, still, a lot of money — especially since I only spent $3.”

The Associated Press contributed to this story.

Television City, one of the most famous studios in the entertainment industry where generations of TV shows have been created, is expected to hit the market again as its owner grapples with debt.

It’s the latest sign of distress in Hollywood as the film and TV industry struggles from a sharp falloff in production activity across Southern California.

Television City’s owner, Hackman Capital Partners, is already in the process of selling the historic Radford Studio Center, which gave L.A.’s Studio City neighborhood its name. Hackman defaulted on a $1.1-billion mortgage in January and investment bank Goldman Sachs took over the property, which is now escrow for a sale to Netflix.

The sprawling Television City property is one of the most desirable locations in Los Angeles, sharing fences with the Original Farmers Market and the luxury Grove outdoor shopping center, each of which attracts millions of visitors every year.

If the studio at Beverly Boulevard and Fairfax Avenue where “American Idol,” “All in the Family” and scores of other shows were filmed becomes available as expected, the owners of the Grove and the Farmers Market would be among the likely contenders for the property for potential expansion of their businesses, said sources familiar with the matter who were not authorized to comment.

Grove owner Rick Caruso was among the bidders for Television City, formerly known as CBS Television City, last time it was on the market and could emerge as a possible bidder.

The highest bid when broadcaster CBS sold the studio in 2019 came from Hackman Capital Partners, an international movie studio operator and commercial property landlord that paid $750 million for the 25-acre site that is near Hollywood, Beverly Hills and and the Sunset Strip.

Hackman Capital’s plan to recoup its investment included continuing to operate Television City as a studio for rent while adding new revenue-generating features.

Last year the city approved Hackman Capital’s $1-billion plan to add 980,000 square feet of offices, sound stages, production facilities and retail space.

The original studio designed by famed Los Angeles architect William Pereira erected in 1952 has city landmark protections, but newer structures on the property do not and there are acres of surface parking that could be converted to other uses.

Both Caruso and Farmers Market owners A.F. Gilmore have sued to limit the planned expansion of the studio, calling it a “massively scaled” development that “would overwhelm, disrupt, and forever transform the community.”

The debate over the development has played out amid a serious downturn in the region’s entertainment industry, with studios shifting film and television production to Georgia, New Mexico and other out-of-state locations.

L.A.’s entertainment industry also suffered a series of blows including the COVID-19 shutdown, strikes by writers and directors in 2023 and cutbacks at studios that reduced demand for sound stages.

A group of Hackman Capital’s lenders led by Deutsche Bank filed a notice of default last month, saying they’re owed more than $357 million. Hackman Capital is still trying to renegotiate its debt.

“The studio market is evolving, and the financing environment for studio assets remains complex,” Chief Executive Michael Hackman said in a statement. “We are engaged in active discussions with our lending partners and are carefully evaluating all of the alternatives.”

A person familiar with the process but not authorized to speak about it publicly said Hackman Capital will be hard-pressed to pay its debt in light of challenges facing the industry. The notice of default is “the baby step to put Television City in play” for new buyers, the source said, “and it is in play.”

Already in play is Manhattan Beach Studios, another Hackman Capital property encumbered by a $240-million loan from Deutsche Bank that the lender is in the process of selling. A buyer could foreclose on the property and potentially change its use to advanced manufacturing such as aerospace or defense, which is in high demand in Southern California.

Brokerage Cushman & Wakefield, which is managing the sale, emphasized in marketing materials that the 22-acre site has “significant available power capacity” and “offers flexible uses” on “some of the most irreplaceable underlying land in the South Bay.”

Albanian prosecutors probe forged deeds tied to Kushner resort land as protests over the project intensify.

Albania’s anticorruption prosecution service is investigating whether the deeds to a stretch of protected coastline earmarked for a Jared Kushner-backed resort were forged, according to case files reviewed by the Reuters news agency, adding another legal complication to a project that has already provoked months of street protests.

The files, compiled by the Special Structure Against Corruption and Organised Crime (SPAK), name Artur Shehu, a Miami-based businessman, as the seller who transferred the land to Albania Land Development, the entity behind the Kushner-linked scheme, in April.

Prosecutors allege Shehu and his associates funnelled proceeds from cocaine trafficking into Albanian property, using falsified titles to disguise the money’s origin, and have since frozen roughly 110 million euros ($126m) tied to the sale in a notary’s account.

Shehu’s lawyer, Kujtim Cakrani, rejected the allegations outright. “Nothing that has been alleged regarding Mr Artur Shehu’s character is true,” he told Reuters, adding that his client was neither a trafficker nor a document forger and had lawfully sold land his family had held since Ottoman times.

Cakrani said Shehu was untroubled by the arrest warrant, arguing it was widely assumed in Albania that prosecutors answered to political and business interests. He also said Shehu fled to the United States and won asylum in 1998 after gang violence killed his brother and uncle.

The SPAK files, running to 200 pages and not previously made public, were issued the same day the agency unveiled separate arrest warrants for 20 people accused of narcotics trafficking and money laundering.

Reuters found no evidence that Kushner, Sazan Real Estate Development or other backers of the resort knew of any suspicions surrounding Shehu when the land changed hands.

The disclosure comes amid sustained unrest over the development, which sits on wetlands and beaches along Albania’s southern coast that are home to sea turtles and flamingos, the latter adopted as a symbol by the self-styled “Flamingo Revolution” against the resort and alleged government corruption in general.

Kushner and his wife, Ivanka Trump, have said the idea for the resort came to them after they spotted the coastline from a yacht. He unveiled renderings of hotels, villas and marinas on social media in 2024.

Nightly rallies that began in May, initially focused on the project, have broadened into a wider movement demanding Prime Minister Edi Rama’s resignation over accusations of corruption.

A crackdown last week saw riot police deploy tear gas and water cannon against demonstrators outside parliament, injuring 15 officers and leading to 25 arrests. A Tirana court freed 19 of those detained on Sunday, placing two under house arrest and ordering a dozen others to report periodically to judicial police.

Entela Koja, one of the protesters, said “this is a revolution against the big guys who want to use Albania like a playground for the rich.”

Villagers near the site have separately pursued a decade-long legal challenge to Shehu’s ownership claim, presenting title deeds and tax records they say establish that they are the rightful owners.

Nikolin Markpalaj, one of the landowners, told Al Jazeera: “I told them it would not be easy for them to take this land and enjoy someone else’s land and property. What is happening in this country is madness.”

Rama’s government has dismissed the protests as orchestrated by political rivals and insists the project complies with Albanian and European Union law.

Rebekah sold her car and put all her clothes on Vinted to raise enough for an open-ended trip

A woman saved £18,000 in just seven months to travel the world – by selling her wardrobe on Vinted. Rebekah Swatton, 26, has spent the past seven months aggressively saving for an open-ended trip abroad after a previous journey forced her to rethink her relationship with money and possessions.

Her outlook on life changed dramatically after the sudden death of her boyfriend from a cardiac arrest five years ago, an experience she says made her realise that “nothing in life is certain”. Last March, she embarked on a six-month backpacking adventure across Australia, Africa, and Asia, taking a sabbatical from her job at Lloyds Banking Group.

But when she returned to the UK in September, she says she was struck by how little she actually needed the possessions waiting for her at home. That realisation sparked a drastic lifestyle change.

Rebekah sold her car, worked up to 20 hours of overtime each week and cleared out the majority of her wardrobe on Vinted – ultimately building up savings of £18,000 for her next trip to South America. Rebekah, from Powick, Worcestershire, said: “I had been away for so long that when I came back I realised I had been living without any of these extra material things happier than I was living with them.”

Rebekah began saving in 2022 following the sudden death of her boyfriend of six months, who passed away from an undiagnosed underlying heart condition. Rebekah said: “It really made me wake up and I felt that nothing is certain going forwards. I’d gone straight from college into career mode without thinking.

“I’d always said I wanted to travel and this really catalysed my first trip, as I want to live my life to the fullest.”

Last March, Rebekah set off on a six-month backpacking adventure, travelling through Australia, the Philippines, Cambodia, Vietnam, Kenya, and Tanzania. When she returned, Rebekah decided to completely change the direction of her life and pursue travelling full time.

She said: “It was such an amazing time. I really enjoyed feeling free and experiencing new things each day. But once I got back and realised I wanted a change, I decided next time I left I would leave my job permanently and not return to the UK for at least a few years.”

With that commitment in mind, Rebekah knew she would need to build up substantial savings to support herself on an open-ended trip with no fixed return date. Rebekah said: “Since I’ve been back, I’ve been living with my parents, which of course helps keep outgoings down.

“I have been working my £30,000 banking job full time plus an extra 15 to 20 hours over time each week. I sold over 200 items on Vinted, from clothing to accessories to random trinkets and also sold my car for £2,500.

“This, plus working 60 hour weeks and living with my parents, meant I saved nearly £20k for the next time I leave the country.”

Rebekah has booked a flight to Guatemala for the first week of May, with plans to travel through South America from there. She said: “I’ve planned out the first couple months of my trip with flights and loose accommodation.

“But I know over the next six months I want to travel through Guatemala, Columbia, Peru, Bolivia, Brazil, Argentina, and Chile.”

A UK airline has lost its last chance at a rescue deal – more than eight months after entering administration.

The firm had suffered financial difficulties after the loss of a contract with KLM.

A potential rescue deal for Eastern Airlines, and its affiliated company Air Kilroe, has fallen through – leaving administrators unable to save the regional airline.

As a result, administrators RSM UK, are set to break up and sell the businesses’ assets separately, as revealed in new documents filed by the company.

A joint sale of Eastern and Air Kilroe was initially pursued as the companies had operated under a single business – before entering into administration in November last year.

The North Lincolnshire-based airline had flown routes across the UK, Ireland and Europe, and had been operating four aircraft for KLM Cityhopper in Europe.

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However, the abrupt loss of this contract in October last year plunged the company into severe financial difficulties.

At the time of collapse, RSM said “high fixed overheads” and its staff base had “ultimately proved too high to be sustainable”.

Jamie Miller, partner at RSM UK and joint administrator, added: “The unexpected and sudden termination of Eastern’s KLM contract, along with other economic factors, unfortunately left the directors with no choice but to appoint administrators.“

Now, all nine of the company’s aircraft fleet have been sold off to private buyers, as well as associated plane parts and components.

At its peak, the airliner provided 200 flights per day and employed around 330 staff members, the majority of which have now been made redundant.

Now just 16 employees remain, and are expected to stay on until the administration process is completed.

Known as one of the UK’s last regional airlines, the firm had run a weekday service between Wick John O’Groats Airport and Aberdeen, which was seen as an essential link for those living in the most northerly point on mainland UK.

Launched in 1997, the airliner also flew from bases in East Midlands, Jersey, Manchester, Southampton and Denmark – and even held eight summer slots at London Gatwick.

RSM has declined to comment.