Business of Sport

Today we’re delighted to welcome Spencer Owen, Founder & Owner of the iconic Hashtag United, to the show. This is one of the most unique organisations in football. Why? Well it was founded on the internet before becoming a successful men’s and women’s team competing in English football. Spencer, or Spencer FC as many of his fans know him, built one of the strongest online brands in football, with over 2m YouTube subscribers regularly engaging with his channel.  When he decided to take Hashtag from online concept to physical sports asset, unsurprisingly it was met with confusion and ridicule by an industry not known for it’s acceptance and embrace of change. As a result, this show is one of most interesting assessments of both what makes football so great, and where there are major opportunities for change. It’s a very different take on the football owner and executive shows we’re used to, and that’s why we love it.  This is sport for a modern age, packaged in a conversation explaining how a club that has more subscribers than many Premier League clubs has created a new blueprint for team ownership and management. On today’s show we discuss: SpencerFC to Club Owner: What was the first step in becoming one of the most famous football ‘influencer/streamer’ and how did that lay the foundations for Hashtag United? This is a club born on the internet; from creating a community online to turning those fans into active sports goers. Influencer driven sport has become a far more recognised phenomenon, but what was it like in the early days taking creators into real life football matches? This is reverse engineering a football club; why building a fanbase before they had an on-field product has given Hashtag a unique opportunity  Business of Hashtag “We are at our heart an advertising business when you think about how we make money” Playing in the 7th tier of English football does not deliver big revenue, so what have Hashtag done to make themselves so commercially attractive. How not owning their own stadium is an issue they are looking to resolve and why a physical home for their broad fanbase will elevate the team’s identity. Raising money is next on the agenda but what type of people is Spencer looking to bring into the ownership group? “We are the opposite of Wrexham” Dealing with Criticism… How naming the team Hashtag United created an unforeseen issue yet remains one of the most important things about the club. Is there a problem with creating a model dependent on views more than results? The story of how the club has used broader issues and opportunities in women’s football to create a really successful team. The 3pm blackout and the issues that it hides…? It doesn’t make financial sense to be promoted in non-league football! What does Spencer mean by this? CLICK HERE to check out our newly released Patreon account for bonus content and exclusive giveaways! https://patreon.com/BusinessofSport

Today we’re delighted to welcome the British and Irish Lions CEO Ben Calveley to the show. The Lions are one of the most iconic institutions in sport. Made up of players from England, Scotland, Ireland, and Wales, this team which tours once every four years is the pinnacle of many a rugby player's career. In just a few weeks, the team will begin its tour of Australia, trying to win a series for only the third time in the last 30 years. This highlights how difficult it actually is for the Lions to be successful. There are few things more difficult than winning away in New Zealand, South Africa and Australia. But what is it that makes the Lions so revered? How do the players turn off rivalry to become the ultimate team for a few short weeks. As described by the Lions themselves which perfectly sums it up, this history is a testament to the power of unity, where rivalries are set aside in pursuit of rugby excellence. This is the real Lions brought to you by the man in charge of the whole legacy. We’re delighted to welcome Ben to the Business of Sport. On today’s show we discuss: Sculpted in History: When was the Lions formed and how has it shaped the most unique team in rugby, maybe even in sport? What does it mean to be a part of the Lions; from inclusion as player to the coaching staff taking on the challenge. Who has the advantage? The balance between putting together the strongest team from four great rugby nations and playing away from home. Why has success been so hard to come by and what have winning teams been able to harness? Business of The Lions:  Behind the history, legacy and honour lies a business that needs to be delivering more than once every four years. How does the organisation make money? From broadcast to sponsorship to ticketing; the numbers behind the Lions. Can The Lions make themselves less financially dependent on the tour and diversify their risk profile to ensure the business is not over exposed? How do sponsorships work and why does Ben think their partners are so keen to align themselves with the team? This is a profitable organisation! What could other sports organisations pick up from the value created around the team? The Future: A historic organisation must leverage its legacy while continuing to innovate. What are the Lions doing to ensure they remain at the front of the attention economy? The introduction of the Women’s Tour and what that does for both rugby and the brand. Would the team ever play a series in a location other than Australia, New Zealand, and South Africa? The modern media environment has created an era of sports documentaries, but how were the Lions at the front of this movement? Creating an event out of the squad announcement; how a day at the O2 will create an F1 car launch style buzz around one of the most exciting aspects of any Lions tour.  

Charlotte O’Neill, Managing Director of Manchester City Women, oversees the club’s rise in women’s football. She discusses leveraging the men's team's credibility while carving out a distinct identity for the women's squad. O’Neill highlights the financial challenges in women’s football, including wage disparities and sustainable investment. The conversation also touches on the evolution of commercial partnerships and the importance of creating engaging matchday experiences to attract diverse audiences. She envisions a bright future for the team as they aim for consistent championships.

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/

Joe Gorman, CEO of Exeter City, leads a fan-owned football club competing in League One with over 4,700 owners. He discusses the unique challenges of this model in an era of wealthy club owners, emphasizing how they competently blend finance with performance. Gorman reveals the success of turning a £5m academy investment into a £20m return and highlights the importance of transparency and trust with fans. The conversation covers sustainability strategies, community involvement, and the need for inclusivity in developing women's football.

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/  

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/

In this engaging discussion, Andrew Parkinson, CEO of Plymouth Argyle, shares insights into the club's journey amidst financial challenges. He talks about the controversial hiring of Wayne Rooney and the excitement of knocking Liverpool out of the FA Cup. Parkinson highlights the importance of budget management and competitive strategy in the Championship while stressing fan support. He also delves into plans for sustainable investment and the development of youth programs, showcasing how Plymouth continues to defy the odds in the football world.

Bill Sweeney, CEO of the Rugby Football Union, navigates the tumultuous waters of rugby's financial and governance challenges. He tackles recent criticisms, explaining the RFU's role and the need for structural changes to improve communication with grassroots clubs. Sweeney reveals the dual mission of fostering both elite performance and community engagement. The talk delves into innovative strategies for revenue generation, including landmark sponsorships and digital transformation, while emphasizing the importance of keeping rugby relevant in a competitive landscape.

Welcome to the business of Non-League football. Beneath the top four tiers of the revered English football pyramid sits a whole other football world; hundreds of teams, players, coaches, owners playing week in week out to climb the ladder. Jamie Vardy, Ollie Watkins, Jarrod Bowen, Tyrone Mings have all played non-league football. ‘Welcome to Wrexham’ recently storied the quality that exists and the difficulty in getting out of it. I’ve wanted to do a show focused on this from day one, so I’m delighted to welcome Eastbourne Borough owner Simon Leslie to the show. This is the fully unfiltered reveal on what it is like to buy, run and try to develop a club outside the core of English football. The opportunity is huge, but the challenges are significant. There’s no soft touch here, as we welcome Simon to the Business of Sport. In today’s show we discuss: Buying a Non-League Team: What was it about Eastbourne Borough that attracted you to the opportunity when you had looked at clubs in the Football League? What is unique about buying a club in Non-League and what was the financial requirement to not just purchase the asset but also to run it? Owners now have to go through a rigorous process to check they have the resources to buy a football club…or do they? Is the FA’s ‘Fit & Proper’ test fit for purpose?   “There’s an element of stupidity (in football ownership)”. Why do successful business people continue to plough their hard earned money into football clubs? Can you Make Money?: What are the economics of a Non-League club, from no media rights to a brutally competitive commercial landscape? How do you stand out from the rest to drive more eyeballs and more traffic through your club?  The importance of content in a modern sporting landscape; how Eastbourne have become the envy of many far bigger clubs with a cutting edge, multi platform media offering. What needs to happen to drive more revenue opportunity in football?  Football Governance Fit for Purpose?: How much money do Non-League teams receive from the Premier League and EFL, and what changes could be introduced to deliver a better financial outcome? Are the right people running football in England? Owners have to do more to drive change; why the responsibility doesn’t just sit on the individuals at the top of centralised football. Do the people at the top of Women’s football believe in their own product?  “I am an unofficial spokesperson for Non-League football because they’re not doing it themselves and they deserve more” Orreco  https://www.orreco.com/ Scan.com https://uk.scan.com/