Record £3.2bn in private equity deals for sports teams as funds target football, rugby and F1 sport business The last twelve months saw a record £3.2bn of sports team acquisitions by private equity funds, almost treble last year’s total, as they targeted football, rugby and Formula 1 teams, according to new data shared with City A.M. this afternoon. Last year saw an all-time high of 11 PE purchases of stakes in sports teams [...]
McLaren interview: North America, NFT’s and Drive to Survive McLaren interview: North America, NFT's and Drive to Survive Spanning five continents and 17 time zones, Formula 1 is a truly global sport. But with the expansion of the calendar in recent seasons and the increasing presence in the digital and online space, F1 teams are taking special interest in one market in particular: North America. McLaren are a case in point. The English [...]
Mercedes reveals plan to quit Formula E just days after winning a World Championship double Formula E champions Mercedes to quit electric racing series Mercedes-Benz has announced plans to pull out of Formula E just days after winning the drivers’ and constructors’ championship. The German car maker said it would step away from the electric vehicle racing series at the end of next season. It comes less than 72 hours after Nyck de Vries sealed Mercedes-EQ’s first Formula E [...]
Nyck de Vries wins Formula E drivers’ championship August 16, 2021 Mercedes-EQ driver Nyck de Vries won his maiden Formula E world championship on Sunday after finishing eighth in the final race in Berlin. De Vries benefited from three of his rivals failing to finish: Jaguar driver Mitch Evans experienced a technical failure on the grid, Rokit Venturi’s Edoardo crashed into him and later British driver [...]
Formula E gives spectators the green light for London races but caps crowd at around 10 per cent of capacity July 5, 2021 Formula E chiefs have confirmed that spectators will be allowed to attend the London leg of the series this month. But only 2,720 fans will be permitted on each of the two days of electric motor racing – around 10 per cent of the crowd originally envisaged. The London E-Prix is being held at the [...]
Susie Wolff interview: Venturi Racing team principal on life aboard the Formula E rollercoaster and why the electric series is set for more growth May 5, 2021 Formula E is designed to have more thrills and spills than other motorsport competitions, but Susie Wolff could be forgiven for wishing her introduction to it had been less bumpy. The former driver’s three years in the electric series has involved learning the ropes as a team principal at Venturi Racing, a change in ownership [...]
Exclusive: Formula E champions DS Techeetah take gamble on stock market-linked £1m sponsorship deal with investment platform eToro March 2, 2021 Formula E champions DS Techeetah have struck a £1m sponsorship deal with social investment platform eToro that could see the team not receive a penny. Instead of receiving a flat fee, DS Techeetah will have the seven-figure sum placed in their eToro account for them to invest on the stock market. If their portfolio grows [...]
Week in Sportbiz: Amazon and private equity target Serie A; Arsenal pick Garlick; sponsors keep faith; and boosts for electric racing January 14, 2021 Amazon’s foray into broadcasting Premier League matches could be a taste of things to come in Italy. The retail behemoth has held talks about buying the domestic rights to show Serie A on its Prime Video platform, according to multiple reports. Amazon has already secured a foothold in the Italian market, snapping up some Champions [...]
The Week In Sportbiz: Premier League set to axe pay-per-view (for now), Formula E gets cosier with Extreme E, and Gosper gives US his World Cup vote November 6, 2020 Less than a month after its introduction, Premier League clubs are expected to ditch their unpopular pay-per-view service. Since debuting on 17 October, half of all games have been restricted to those willing to pay £14.95 a time. Fans groups protested the extra charges by successfully urging people to donate thousands of pounds to food [...]