Sports Business

Cricket rights will bowl India Inc a new line-up

10 Jun 2022

A third of teams in the sport’s premier league fit poorly with owners like Diageo. One, Reliance, wants the broadcast rights too. CVC’s entry into the club creates more uncanny parallels to a changing corporate India. The outcome of the $6 bln TV auction may spur a clean-up.

AC Milan’s soccer triumph rubs off on Elliott

1 Jun 2022

The U.S. fund is selling the Serie A winner to private equity firm RedBird for $1.3 bln, nearly 5 times sales. That’s rich for a club with chronic losses. After a challenging first half and the pandemic, Elliott looks to have made a respectable return from the Italian team.

Chelsea’s generous buyer, U.S. inflation pain

12 May 2022

Roman Abramovich is selling the soccer team to a group led by LA Dodgers co-owner Todd Boehly for $3 bln. In this Viewsroom podcast, Breakingviews columnists discuss the chunky valuation and the owner’s spending plans. Also, high prices are hitting the rich as well as the poor.

Chelsea buyer will struggle in financial league

9 May 2022

A group led by LA Dodgers owner Todd Boehly and U.S. buyout firm Clearlake will pay $3 bln for the UK soccer club. Unlike current owner Roman Abramovich, they’ll be eyeing a return on their investment. Yet $2 bln of pledged spending, including a new stadium, make that tricky.

How Brooks ran into Warren Buffett’s arms

26 Apr 2022

The athletic-shoe company nearly expired while trying to compete with Nike and Adidas. Then Jim Weber stepped in and sharpened its focus to runners. The company’s boss explains in this episode of The Exchange how staying the course caught the attention of the Sage of Omaha.

Hypebeast finds SPAC shortcut to dual listing

4 Apr 2022

The Hong Kong-listed lifestyle, advertising and e-commerce firm is selling a stake to a blank-check vehicle, thereby collecting a U.S. listing as well. The implied valuation, despite being at a premium, is sober by SPAC standards. The novelty is involving two stock exchanges.

China’s NFTs face long digital purgatory

1 Apr 2022

Blockchain-based assets are catching on with companies like Xtep, which just released metaverse sneakers. Beijing bans cryptocurrencies, however, meaning apps only accept yuan and curb reselling. Absent sanctioned secondary markets, collecting will be merely a token gesture.

Review: UK corporate servants neglect their manor

11 Mar 2022

The country has become a concierge to the globe’s shady rich, Oliver Bullough argues in “Butler to the World”. Kleptocrats benefit from amenable bankers, assertive lawyers and pliable politicians. But the flow of cash erodes the foundations that make the destination so appealing.

Russian shoppers weaken case for companies to stay

11 Mar 2022

Adidas and Unilever are among those cutting back in the country. They make way for locals such as retailer Magnit and Asian consumer giants that stick around to gain market share. The effect of sanctions on disposable incomes, however, makes the financial logic less compelling.

Capital Calls: Americans accept inflation for now

10 Mar 2022

Concise views on global finance: U.S. prices rose a whopping 7.9% year-on-year in February. Even so, Russia’s invasion of Ukraine has improved President Joe Biden's approval ratings. It may not last.

Disney without cricket risks its streaming game

3 Mar 2022

IPL rights held by the Mouse House are up for grabs. Sony and Reliance are pumped-up contenders, and bids may hit $6 bln – well over double the 2017 price. India is the fastest-growing hub for Disney+ but minus the popular game, boss Bob Chapek can kiss subscriber gains goodbye.

Chelsea’s sale proceeds may not amount to much

3 Mar 2022

Roman Abramovich is seeking buyers for his soccer club, pledging to hand net takings to Ukraine war victims. That might be a tiny sum: cash-burning Chelsea relies on his wealth to stay afloat. And would-be owners may worry about dealing with a politically risky Russian oligarch.

Super Bowl gambling bonanza is a DraftKings bust

11 Feb 2022

The number of people who bet online on America’s football mega-match is set to surge. That ought to mean a jackpot for the wager app. But its losses are growing due to promotions that the $18 bln company is using to attract users. Justifying such costs requires defying the odds.

Capital Calls: Crypto hangs up Super Bowl placard

11 Feb 2022

Concise views on global finance: Cryptocurrency firms have lined up for ads on the U.S. football championship, much like dotcoms did in 2000. They are paying up to $7 mln per spot, or twice as much, adjusted for inflation.

Amazon could get Peloton at garage-sale price

7 Feb 2022

The workout firm’s shares surged after suggestions the $1.6 trln e-commerce giant may buy it. Peloton isn’t an obvious fit, but the ability to sell subscriptions to even a sliver of Amazon’s user base is valuable. With the right regime, Peloton’s value could conceivably double.

China flexes to bring home Olympic tech gold

26 Jan 2022

Hosts like South Korea and Japan used the games to showcase cutting-edge advances like 5G and robots. February's event will deploy apps, automation and more to manage Covid-19 outbreaks. Beijing is also keen to prove its growing prowess in digital currencies and hydrogen energy.

Capital Calls: KKR’s e-bike push

24 Jan 2022

Concise views on global finance: The buyout firm leads a 1.6-billion-euro takeover of Dutch bikemaker Accell.

Capital Calls: Siemens Gamesa, Psych SPAC

21 Jan 2022

Concise views on global finance: The 11 billion euro wind turbine manufacturer serves up its third profit warning in nine months; Hope for drugs to treat depression is tempered after rivals suffer mishaps.

Fanatics takes Topps at rock bottom

4 Jan 2022

The flashy new winner in U.S. collectibles is buying its old-school rival’s unit. It comes months after Fanatics effectively busted Topps’ deal to merge with a SPAC by grabbing the official American baseball-card business from 2026. Now Fanatics is sweeping up its victim, too.

Viewsroom: Some of our 2022 predictions, Part One

23 Dec 2021

Look for an end to the cult of revenue and another milestone for Microsoft. As net-zero efforts falter, investors ready a Plan B. Riyadh becomes strangely appealing. The World Cup pays dividends for the Gulf. And chips become Taiwan’s green calling card. Our columnists explain.