Sports Business

Cable networks risk post-virus vicious cycle

7 May 2020

Live sports are a big reason Americans tolerate pricey pay-TV packages. The lack of games is an excuse to cut the cord. Yet the NFL and others will want more for broadcast rights to make up for empty seats. That could push cable bills higher, and more subscribers toward the exit.

NFL draft is an anti-capitalist oddity to treasure

23 Apr 2020

The three-day sign-up of rookie players gives first dibs to the weakest teams to ensure all get a shot at success. It’s the opposite of laissez-faire, yet also entirely American – and makes the unhelpful adherence to market forces in areas like healthcare all the more illogical.

Corona Capital: Extended Stay, Victoria’s Secret

22 Apr 2020

Concise views on the pandemic’s corporate and financial fallout: Blackstone checks back into one of its favorite old haunts, hotel chain Extended Stay; while another private-equity shop, Sycamore, tries to dump its proposed investment in lingerie seller Victoria’s Secret.

Corona Capital: American football fail

14 Apr 2020

Concise views on the pandemic’s corporate and financial fallout: The NFL has better finances and sturdier supporters than the XFL, which just filed for bankruptcy right after its reboot. But the Super Bowl operator’s future also rests on coronavirus-induced physical distancing.

Corona Capital: Banking bonuses, Local TV M&A

30 Mar 2020

Concise views on the pandemic’s corporate and financial fallout: BBVA’s ditched bonuses pressure peers; local TV deal has more than one struggle.

Japan can handle Olympic defeat

3 Mar 2020

The flame is set to be lit as planned in Tokyo in late July, but the coronavirus casts fresh doubt each day. An economic uplift worth some $280 bln was anticipated. The bulk of it is already booked, though. And the country has plenty of tourism momentum on which to build.

Hong Kong bankers drop-kicked while they’re down

14 Feb 2020

The city’s World Rugby Sevens leg has been postponed six months because of the coronavirus. Sponsor HSBC and its rivals typically schmooze clients and cut loose at the big event. Its absence in the April diary will be a grim reminder of the tough year ahead in Asian finance.

NFL ratings spike cuts both ways for TV networks

31 Jan 2020

U.S. football viewer ratings leapt 5% this season, probably because politics took a backseat to new stars like Lamar Jackson. The rise in popularity is good for broadcasters worried about cord cutters. But it also gives the league leverage when pricey rights renewals come due.

Saudi Newcastle punt is not as silly as it sounds

27 Jan 2020

Riyadh’s wealth fund is mulling a 340 mln pound takeover of the English soccer club. It’s another eyebrow-raising move in Saudi’s efforts to diversify its economy. But a repeat of Abu Dhabi’s successful reboot of Manchester City could help repair the kingdom’s tarnished brand.

Anta Sports puts ultimate buy rating on itself

17 Jan 2020

After outrunning short-sellers, the Chinese apparel giant is issuing 1 bln euros of convertible debt that pays nothing and can’t be swapped for equity until shares rise 40%. Strong take-up will signal confidence Anta can repeat its success reviving Fila with Finland’s Amer.

NBA legend’s globalization lesson still unfinished

2 Jan 2020

David Stern, who died on Jan. 1, revamped a flailing U.S. basketball league by turning athletes into billion-dollar brands. The star system he created as commissioner is a slam dunk, but the spirit of cross-border openness that helped the NBA go global has lost some bounce.

Soccer giant will field Chinese star to kick sales

30 Dec 2019

Super-clubs like Manchester United and Real Madrid need new revenue streams as growth from the traditional pay-TV cash cow slows. In 2020, a top team will look to boost merchandise and sponsorships in a huge market by fielding a sub-par Middle Kingdom athlete.

Tokyo brings home the Olympic gold in 2020

24 Dec 2019

Cities are often saddled with debt from hosting the games, and mismanagement has stretched from Montreal to Rio. Japan is setting new positive standards in sponsorship and sustainability, making medals from used phones. Add on short-term stimulus, and it can top the host podium.

Man City adds scrappy player to financial roster

27 Nov 2019

Silver Lake is buying about 10% of the Premier League club's owner, valuing the global soccer conglomerate at an eye-popping $4.8 bln. Victory on the pitch won’t be enough to satisfy the buyout shop’s investment goals. That may take winning in streaming, e-sports and even China.

Viewsroom: General Motors strike runs on hot air

10 Oct 2019

Workers downed tools over three weeks ago, despite last-minute concessions by the U.S. carmaker. Job-security fears are a sticking point. So is the union’s need to prove its worth after a kickbacks scandal. Plus: U.S. basketball plays smart defense on China’s Hong Kong backlash.

China’s shot at NBA draws political foul

9 Oct 2019

State TV won't screen preseason games in the country after boss Adam Silver backed a manager who supported Hong Kong protesters. The basketball association has put its $4 bln business and partners at risk, but it is pushing back anyway. It can become a rallying point for others.

“South Park” makes an anti-diplomat out of Viacom

8 Oct 2019

The animated series is banned in China after it poked fun at Hollywood’s willingness to self-censor. Owner Viacom’s business in the PRC makes it vulnerable to reprisals. For now, it can enjoy the soft power that comes from being one of few U.S. brands prepared to speak its mind.

College football learns to play by market rules

3 Oct 2019

Young U.S. athletes generate $1 bln in revenue for their governing body – yet their rewards are tightly capped. When demand is high and the supply of elite talent low, as in football, something has to give. A new California law is a nod to what other industries realized long ago.

Li Ning’s sprint easily confused for a marathon

19 Sep 2019

The $7 bln Chinese sportswear maker’s shares have nearly tripled this year and now fetch a higher valuation multiple than Nike, Adidas and Anta. A new co-CEO from Uniqlo may help build on the turnaround. Fierce competition and an economic slowdown, however, will slow the pace.

Tencent e-sports stars would play better as a team

23 Aug 2019

Shares in China’s DouYu have crashed since its first results as a U.S.-listed company. Video-game streaming rival Huya is gaining users faster, spends less on sales, and is not as reliant on top gamers. For Tencent, a big investor in both, it’s a new reason to push for a merger.