Week in Sportbiz: Sports give qualified backing to Covid certification plan; US Beijing boycott talks escalates; Masters caught up in vote row April 8, 2021 British sport’s leading governing bodies have backed plans to use Covid certification if it means they can reopen stadiums in full later this summer. But they have called for urgent clarification on how and when social distancing will be relaxed, warning that partially full venues will not stem their financial losses. The Premier League, Football [...]
Athletes are driving the acceleration of sports investment – will we see European players follow the US trend for SPACs and NFTs? April 8, 2021 Barely a day goes by without another high-profile athlete being announced as an investor in a special purpose acquisition company (SPAC), a tech start-up or launching their own non-fungible tokens (NFTs). While the Covid-19 pandemic has created major cash-flow problems for many elite teams and leagues, there is certainly no shortage of liquidity being channelled [...]
Is Mike Dean really the strictest referee in the Premier League? April 1, 2021 Mike Dean is many things – showman in a world of automatons, purveyor of the no-look booking, gift to gif makers – but is he, as some would have it, the strictest referee in the Premier League? A study of officiating in English football’s top flight over the past five seasons has attempted to answer [...]
Bet365 boss Denise Coates nets record £421m payday despite revenue fall March 31, 2021 Bet365 chief executive Denise Coates paid herself at least £421m in the year to March 2020, despite a decline in revenue in the run-up to the pandemic. Company filings show the gambling giant handed the sum to its highest-paid director, who is believed to be Coates. It is thought to be the UK’s largest ever [...]
Athletic Bilbao: Two Copa del Rey finals, one unique philosophy, and the roles of identity and loyalty in sporting success March 31, 2021 Athletic Bilbao manager Marcelino Garcia Toral could be forgiven for using the old cliche about every game feeling like a cup final. That’s because, due to a quirk of pandemic rescheduling, Athletic are about to play in the final of Spain’s domestic cup competition twice in a fortnight. On Saturday, a year later than planned, [...]
Deliveroo stumbles to London float with pricing at bottom end March 30, 2021 Deliveroo will price its initial public offering at 390p per share, the bottom end of previously touted valuations for the food delivery firm. The price would indicate a lower-than-expected valuation of £7.6bn, after a string of UK fund managers said they would not take part in the deal. The fund managers cited concerns about Deliveroo’s [...]
English football clubs turn to MetLife for £117.5m loan after baulking at Bank of England emergency funding conditions March 30, 2021 Championship football clubs have chosen to take a £117.5m loan from US insurer MetLife instead of the Bank of England’s emergency Covid-19 support scheme. The English Football League (EFL), which represents clubs in the second, third and fourth divisions, said it rejected the Bank of England loan due to the conditions imposed. Teams in the [...]
A drive to survive: How Liberty Media used Netflix and esports to win a new generation of fans and safeguard the future of Formula 1 March 26, 2021 It feels like an awful long time ago now that Liberty Media took the wheel of Formula 1, completing a takeover valued at $8bn including debt in January 2017. Donald Trump had just been inaugurated and the most relevant global health emergency was the Zika virus. In motorsport, meanwhile, Lewis Hamilton had been dethroned and [...]
Week in Sportbiz: Is crypto the next big player in sports sponsorship? Plus Extreme E’s Suez near miss and Amazon’s Six Nations interest March 25, 2021 Where US sports lead, others tend to follow, so it was with interest that industry insiders noted developments in Florida this week. Miami Heat’s home is set to be rebranded the FTX Arena after the NBA side struck a naming rights agreement with the cryptocurrency exchange. FTX will pay $135m for the 19-year deal, the [...]
Why Chelsea FC are giving away digital advertising to London’s small businesses March 24, 2021 Chelsea are offering London’s small businesses a pandemic pick-me-up in the form of free digital advertising. The Premier League club plan to showcase a different start-up each matchday for the rest of the season, giving away digital assets worth five figures a time. “Rather than celebrating us, we wanted to celebrate the city that we’re [...]