Sports Business

Soccer attack weirdly converges risk factors

21 Apr 2017

A bombing of Borussia Dortmund's team bus was carried out by a man using leveraged options to bet against the club’s stock, prosecutors say. A similar unsuccessful plot recently involved U.S. retailer Target. The mix of financial weapons and real ones is a disturbing new trend.

Mallya arrest could energise India bad debt fight

18 Apr 2017

Liquor baron Vijay Mallya fled to the United Kingdom after banks sued to recover $1.4 billion. If his arrest leads to extradition it would make an example of the poster child of India’s bad loan problem. That would help New Delhi sell any bailout of state banks to the public.

Skiing business goes tri-polar with Intrawest deal

10 Apr 2017

The $1.5 bln takeover of the operator of Stratton and Steamboat Springs resorts by Aspen Skiing creates a potential rival to primo consolidator Vail. With skier ranks mostly flat, these two will battle it out with independent resorts that will either huddle together or sell.

China’s soccer dreams lead to strange bedfellows

28 Mar 2017

Elliott is saving a Chinese takeover of Italian club AC Milan with 300 mln euros of funding, Reuters says. The U.S. hedge fund must be driving a hard bargain. But the buyers may have been boxed in by Chinese curbs on moving capital and the prospect of losing a hefty down-payment.

Dimming Olympic flame casts long shadow on bloat

1 Mar 2017

Budapest saw the light and became the fourth city to drop its bid for the 2024 Summer Games, leaving only Los Angeles and Paris in the race. With the ranks of potential hosts getting exhausted, one good way to save the global athletic fest would be to cut events back to basics.

China’s soccer frenzy has early signs of fatigue

28 Feb 2017

A unit of LeEco has lost the rights to screen top Asian matches after missing a payment on a $100 mln-plus deal. The cash-strapped group has unique problems. Still, Chinese investors have poured record sums into the sport. Some others have probably over-stretched too.

Super Bowl 51 may be defensive, political football

3 Feb 2017

The championship game on Sunday caps a tough year for the league. Though some 100 mln people are expected to tune in, TV ratings have been down all year. Add sponsors tapping into post-election rancor and a president with an old grudge against the NFL and it could be brutal.

Michael Jordan scores a nominal win in China court

9 Dec 2016

The U.S. basketball legend and brand powerhouse has won the rights to his Chinese name in the mainland's highest court. It's a welcome victory for trademark owners, but it won't put more money in His Airness's pockets, or do much to deter other Chinese brand thieves.

Viewsroom: What’s at stake in Trump vs. China?

9 Dec 2016

The U.S. president-elect upended decades of diplomacy by taking a call from Taiwan's leader. But some U.S. companies will welcome his stance. And China has much to lose from any escalation. Also: Italy PM Renzi gets his marching orders. And there's no easy move to monetize chess.

MBK takes a $1.3 bln wide swing at golf in Japan

30 Nov 2016

The South Korean buyout firm has bid for golf-course operator Accordia. This business was a good post-bubble investment for Goldman Sachs, and then a disappointing one for public investors. A full price now makes it hard to see MBK teeing up a high return.

Adidas can’t keep up with Olympian expectations

3 Nov 2016

The German sports brand's revenue is growing fast, and its operating margin is increasing. Still, the 15 pct rise in earnings in the third quarter fails to justify a 55 pct rise in the share price this year. Adidas doesn’t deserve a 35 pct premium to more profitable Nike.

Bear-market patience helps Cubs break the drought

3 Nov 2016

Chicago's lovable baseball losers won the World Series for the first time since 1908. Owner Tom Ricketts bought the team for $900 mln in 2009, spent heavily when the franchise was scraping bottom, and probably tripled his money. It's a story with lessons for other investors.  

Britain’s haul: 27 gold medals and a wooden spoon

22 Aug 2016

China underwhelmed in the Olympic medals table, while the tiny UK excelled. That’s a poor guide to more important competitions. Though Britain still has soft power, its value as a role model is on the wane. China no longer needs gold medals to secure its place on the podium.