Business of Sport

• Charlotte O’Neill, Manchester City Women Managing Director, ‘Why Is Women’s Football Expected To Be Profitable When Men’s Football Isn’t!?’

  Today we’re delighted to welcome Manchester City Women’s Director Charlotte O’Neill to the show. This is a part of the game we talk about a lot. The growth of women’s football has been in turbo over the last decade, both in the UK and beyond. Man City have been one of the clubs leading that charge, compiling a squad of world class talent with the facilities and infrastructure to deliver on a long term ambition, to be the best women’s team in the world. But behind this is a broad range of both successes and major challenges to overcome. From developing female first brands with unique value propositions to being held to account for a lack of financial sustainability as the men’s game haemorrhages cash, there’s a real story to be told for what is going on behind the scenes as these teams evolve through their investment phase into legitimate standalone football brands with social and commercial firepower. On today’s show we discuss: Evolution of Man City Women: When a women’s team is starting out, does it need to be able to leverage the brand and credibility of a strong men’s team to get ahead? What has been the most important part of being a team in the City Football Group setup? From foundation to legitimacy: how have the club developed both a trophy chasing team on the pitch supported by best in class infrastructure off it. What are the biggest challenges about running a women’s team in the WSL? Are the expectations placed on the women’s team similar to that of the men? How an access to the leadership of Man City, such as Director of Football Txiki Begiristain, has benefited Charlotte and her team when it comes to football and business. Creating a Proper Business:  ”This assumption that women's football has to be sustainable from day dot really drives me mad”. What does it mean for the game to be in the ‘investment phase'? Understanding who the fans are; who are the core group attracted to the matches and how to the compare to the ‘traditional’ City fan? The rise of female first partnerships: how the women’s team and signing major brand deals with businesses looking to unlock and resonate with a new audience. What are the key revenue streams that drive the team and how do they compare to the men’s business model. To what extent does success on the pitch drive the success off it? The Wider World of Women’s Football: How does the WSL compare to other strong leagues in the US and Europe? Are we attracting the top talent to come and play in the league and do the financial opportunities offered compete with salaries elsewhere? Should we franchise women’s football? The balance between security and maintaining brand value with jeopardy and open football pyramids. Where are the biggest opportunities for women’s football over the coming years? A huge thanks to our partner: Orreco  https://www.orreco.com/

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• Steven Elworthy, Surrey County Cricket CEO: ‘Is County Cricket Sustainable?' (Ep66)

  Today we’re delighted to welcome Surrey County Cricket CEO Steve Elworthy to the show, our first venture into one of the toughest businesses in sport. Surrey is a historic institution in a historic sport, part of a club set up integral to the development of all cricket, including the much loved short form franchise tournaments that dominate today. But well documented, the clubs are struggling big time. Surrey, as you’ll hear, is not one of them.  By far the best team chasing a 4th consecutive championship, a key piece of infrastructure generating tens of millions a year, a perfect location in London, the business of this county team will surprise you I’m sure. But this format is in need of support and innovation. How can we grow the game of cricket and protect the clubs and format that may be out of fashion at the moment, but without which much of cricket wouldn’t exist?  This is the business of cricket away from the shining lights and big music.  On today’s show we discuss: The Business of Surrey: What are the key business drivers of Surrey? From sponsorships to media to ticketing and events. Why is it so important to have a multi-purpose venue capable of generating revenue away from cricket? What is the balance of value between County Championship and short form matches like The Hundred or T20 Blast?  Some years revenue can be £45m, others £65m. Why is it hard to create consistency in annual turnover? The sale of Hundred franchises will pump millions of pounds into the county game. What will this be used for? Impact of Short Form Cricket: The Hundred and T20 Blast play a major role in attracting fans to club grounds. How do club benefit from these short formats even if they don’t directly own a team? Why innovation in cricket is more than just reducing the number of balls bowled. A discussion around player pay: there needs to be a recognition of the opportunities players receive and provide competitive offers to attract the best talent. With the Mumbai Indians owners buying into the Oval Invincibles, what will the benefits of a relationship be? Keeping County Cricket Alive: The maintenance of red ball cricket is important for more than just tradition; why the grassroots game depends on long form cricket. Are the counties marketing their core product well enough? Surrey get over 50,000 fans in for a season; how can that be replicated in locations where teams get only 6 or 7,000? How can county teams modernise to attract the young fan and shake the perception that this is a format of the past? A huge thanks to our partner: Orreco  https://www.orreco.com/

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• Joe Gorman, Exeter City CEO: ‘The Club with 4700 Owners!’ (Ep65)

  Today we welcome Exeter City CEO Joe Gorman. This show is long in the making. One of the most requested guests we have had. Why? Well Exeter are one of football’s biggest rarities; a fan owned club. This means they cannot rely on the wealth and exuberance enjoyed by many to succeed on and off the pitch. They actually have to try and make the business make sense. Punching above their weight for many years, the club sits in League One alongside mega rich teams like Birmingham and Wrexham, and are more than competitive. So how does a club owned by 4700 fans paying £24 a year compete at the top level? How have they turned a £5m investment into the academy to a return of £20m. And why is Joe adamant this is a club here to be the best football team, not just to pat on the head and applaud for doing things unusually well. A truly unique model. A truly unique conversation. This is the other side of the ‘Business of Football’. On today’s show we discuss: Exeter: A Fan-Owned Club: What does it mean to be owned by the fans and how does it actually work when you have over 4700 ‘owners’ involved in the club? Is Joe’s job made easier or harder without having the pressures exerted on management by demanding multi-millionaire owners chasing the glories of Premier League football? How does the business of the club actually work in the context of making decisions to spend money. Is it consensus driven? The importance of building trust: “the fans need to know I have the best interests of the club at heart” Why this is more than a club to patronise for doing well off the field and how Joe, along with manager Gary Caldwell, is installing a winning culture from top to bottom. Would the club ever look for investment away from the fanbase? A Unique Playing Model: When you can’t go out and spend millions on a star player, how do Exeter uncover talent who fit their model? The importance of creating value for top teams by nurturing talent and being a home that clubs want to send their brightest young players to. Buying players for 5-figures and selling them for 7-figures; winning for Exeter is more than just 3 points on the pitch. The value of the sell-on clause: why having a percentage sale on players sold is such a valuable cash flow addition. The fanbase needs to understand and get behind this business model for it to work. How do they relate to a team with pure ideals that may have a ‘success ceiling’? Competing in the EFL: The financial disparity between clubs even in League One is becoming more apparent than ever. How do Exeter leverage their unique model to compete with big spenders? Are clubs like Wrexham and Birmingham good for the Football League? Whose responsibility is it to capitalise on the increased exposure afforded to the football league with big investors and TV deals now a common occurrence? Why does Joe fear wage inflation will be the thing that makes competing on a manageable playing field too hard to navigate? And to our amazing partner: Orreco  https://www.orreco.com/  

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• Nicolas Julia, Sorare Founder: ‘Building a $4bn Fantasy Sports Empire’ (Ep64)

  Today we welcome Nicolas Julia, founder of Sorare, the record breaking platform that blends fantasy sport with digital collectibles. This is a step beyond the fantasy football/F1/rugby you may already be a part of. It’s an open market, providing the chance to show your skills and talent identification to buy, select and trade tangible assets in the form of player cards. They are reimagining sport for the digital age, combining NFT’s, global partnerships, and strategic gameplay to create a fan-owned, athlete connected future of sports entertainment.  From signing partnerships with the Premier League, NBA, and over 350 teams to generating nearly half a billion dollars of translations on the platform, Sorare has pioneered a new era of fan engagement while empowering athletes with their own data and IP. Serena Williams, Gerard Pique, Kylian Mbappe; they’re all backing the company to deliver on their objective of making every fan an owner or manager. But how did this bridge between digital fandom and the world’s biggest sporting entities form?  Big numbers, big partners, big ambitions. Nico delivers the thesis of a company at the heart of the modern sports industry. In today’s show we discuss: Building a Fantasy Sports Business What was the opportunity Nicolas and his partners identified when establishing Sorare? Born in the era of cryptocurrency and NFT’s, how has Sorare been able to navigate this highly volatile landscape and become THE fantasy sports platform? What does the business model look like? From attracting players to the platform to signing global partnerships with major leagues. What has the hardest part of working with very traditional organisations been? How much education is required when demonstrating the value Sorare can bring to a league? Value of Athlete Partnerships Athletes are becoming more and more active in investment markets. How have Sorare leveraged the talent on their cap table to develop the brand and product? How did Nico encourage the likes of Gerard Piqué, Serena Williams, Kylian Mbappe, Lionel Messi to invest in the business?  Are agents a blocker to getting access to athletes when it comes to presenting ‘long term’ business opportunities? Signing big brands and major rights deals is significantly aided by athlete participation; the story of how Serena Williams won Sorare the NBA contract. Difference Between US & European Markets There is a major difference between the evolution of US and European markets when it comes to fan engagement, technology adoption, and athlete investing models. How has this shown itself in the growth of Sorare? Did the approach to winning contracts in the US have to change from the football model implemented in Europe? How do Sorare identify and prioritise new markets? The NFL is one of the biggest sports leagues in the world. Is this a target area? How does the development of the US betting market impact Sorare, if at all? Orreco  https://www.orreco.com/ Scan.com https://uk.scan.com/  

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• Jimmie Johnson, 7x NASCAR Champion: 'Has the Rise of F1 Been Good For NASCAR?' (Ep63)

  Today we welcome 7-time NASCAR Champion Jimmie Johnson, a racing legend. Motorsport has never been bigger. The Liberty Media world of F1 has exploded, MotoGP has sold for over $4bn, but what about NASCAR? The US's second most watched sport is an entertainment and commercial giant, yet outside of America, it’s fair to say exposure is limited. Jimmie Johnson is one of the most successful drivers to grace any track; think Lewis Hamilton or Michael Schumacher. He is the joint record holder for most Championships won, dominating the sport in the noughties winning 5 titles in a row. Now, he’s changed the race seat for team ownership with Legacy Motor Club. From billion dollar media rights deals to cars described as revolving billboards, when we get into it, the business of this sport is ridiculous! We’re delighted to welcome Jimmie to the show. On today's show we discuss: The Business of NASCAR: Where does NASCAR sit in the US sporting ecosystem? What does it cost to buy a team, or ‘Charter’, and how many cars do you enter into a race when you have secured your spot? The $8bn media deal is a major financer of the sport, but what does the distribution model look like? How much do the top drivers get paid and how has the sport changed as regulation restricts the money spent on cars? Why the demand for Charters is on the rise and the shift in investor profile. Does NASCAR need to go global to reach its full potential?  The Rise of Jimmie Johnson: From humble beginnings to the joint most Championships in NASCAR history, what did the path to the top look like? Racing in the 2000s was very different to racing in the present day; how did the salaries and stardom compare? Private planes and international fame…NASCAR drivers lived a great life, but what did the sacrifices to achieve the ultimate success look like? It’s hard to keep the fire burning; what did Jimmie do to ensure he kept focused and hungry? How is Jimmie adding value to Legacy Motor Club as a co-owner that leverages his storied career as a driver? The Future of NASCAR: What does the sport need to do to reach its full potential? Should it go to the F1 playbook? Does the business model allow for the sport to grow? Should there be a better distribution model and decentralised control to develop the commercial end? With a couple of teams pushing back against the latest regulation, is the sport heading for a political dogfight? What does Jimmie want to achieve as an owner?  A huge thank you to our amazing partners: Orreco  https://www.orreco.com/ Scan.com https://uk.scan.com/

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