Sports

World Cup win prompts rare show of Spanish unity

12 Jul 2010

Outsiders often forget just how much regional divisions limit Madrid's ability to act decisively. But on Sunday, Spain was one nation, united in victory. The triumph on the pitch won't make debts disappear, but at the very least it should boost tourism and, importantly, morale.

Fitness First may fatten up on Asian obesity

28 Jun 2010

The private equityowned chain's idea of a Chinese IPO may exercise investor patience. Listed gyms have fared poorly, and Fitness First still carries heavy debts. But the rapid growth of Asian incomes and waistlines might make for a healthier second stab at equity markets.

UK budget coach can’t win economic match alone

15 Jun 2010

The new Office for Budget Responsibility can bring discipline, just like England football manager Fabio Capello. But would the OBR have foreseen the UK's fiscal thrashing? Is George Osborne sorting out the budget midfield? Coaches can help, but it's the team that actually plays.

Paying the penalty for World Cup fever

11 Jun 2010

The tournament gives Spain, Portugal and Greece a welcome distraction from their financial woes. For all the hype, however, any economic benefit outside host South Africa will be shortlived. The victors may enjoy a temporary boost. But, as ever, there will be many more losers.

Soccer clubs must share spoils to fix finances

22 Mar 2010

European soccer authorities are debating capping players' wages and restricting borrowing to improve clubs' dire finances. But the measures won't level the playing field and could strengthen top clubs. Lively competition will depend on a more even distribution of the spoils.

Financiers could prove unlikely heroes at Man Utd

2 Mar 2010

Goldman's chief economist Jim O'Neill is leading a group of rich fans studying a buyout of the debtladen UK soccer club. If the Red Knights can galvanise fans and find the money, that could convince the unpopular Glazer family it's time to sell. For once, bankers could be stars.

UK soccer suffers its own credit crisis

26 Feb 2010

Portsmouth Football Club is set to go into administration the first in Britain's top league to fail. Its demise has many parallels to the banking crisis: excessive debt, reckless owners, and overpaid stars. But at least football clubs don't carry systemic risks.

Even LeBron James won’t make MSG shares a winner

16 Feb 2010

Cablevision has spun off trophy sports assets into a new company, Madison Square Garden. Its fortunes hinge largely on struggling New York teams improving. Signing stars like James, though, may benefit fans more than investors. Courtside tickets look a better bet than MSG shares.

ManU scrambles to avoid financial penalty area

4 Jan 2010

The Glazer family needed an expensive paymentinkind note as well as bank debt to purchase thefootball club in 2005. That PIK not due until 2017 threatens to become a ballooning liability. Tapping the resurgent bond market would put the club on a sounder financial footing.

Yankees prove they’re the Goldman Sachs of baseball

5 Nov 2009

The team, which clinched its 27th World Series, is the sport s most valuable franchise, top moneymaker and pays more than anyone else for talent. And like the investment bank across the river from the Bronx, its success inspires either deep admiration or intense scorn.

Disney comes under China’s economic spell

5 Nov 2009

Vast domestic tourism and new infrastructure make a Disney resort in Shanghai worth the investment risk. It s a smart way for the House of Mickey Mouse to build the brand in a market where media is tightly controlled. But Disney must learn from past financial mistakes.

Rio’s bid for 2016 Olympics makes good sense

1 Oct 2009

Friday s decision will leave three cities as losers or should that be winners? Olympic investments create distortions and rarely pay off. The price for a few weeks of global glory is high. But the games might just fit with Brazil s developing economy and Rio s dynamism.

StanChart and Liverpool FC make an unlikely pair

14 Sep 2009

The emergingmarkets lender has almost no UK business, but it s paying a nearrecord sum to get its name on the premiership team s shirts. Sure, Asia loves football and Liverpool. But it s hard not to worry that StanChart s crisisproof performance has gone to its head.

Ronaldo, Kaká E160m price tag may not be too high

11 Jun 2009

Real Madrid is spending 44% of 2008 revenue to buy soccer's top stars. The capital outlay will depreciate fast and cost millions to maintain. But President Florentino Pérez may be content if the investments help Real sustain its pace of revenue growth.

US basketball is no slam dunk for Chinese cash

28 May 2009

Investors from the Middle Kingdom are buying into the Cleveland Cavaliers home to LeBron James, one of sport s hottest stars. The team could use the capital and marketing deals. But the investment could easily end up another western miss for China if James signs elsewhere.

US college hoops to boost online video and betting

18 Mar 2009

The annual March Madness basketball tournament is a pressure cooker for the 65 teams involved. Bricksandmortar casinos and media group CBS also have plenty at stake. But the online video and gambling businesses may turn out to be the upandcoming teams to watch.