Business of Sport

Sir Andrew Strauss is the last England Captain to win the Ashes in Australia. So what better time to get him in the hotseat. Aside from the timing being perfect, this is a show I have wanted to do from day one. That is not just because he is one of England’s greatest captains and batsmen, but he has also played an integral role in shaping the success of English cricket across formats in recent years. He transformed white ball cricket as Director of Professional Cricket at the ECB, culminating in that most incredible World Cup win in 2019. In doing so, you could say he laid the foundations for the style of test cricket the team is now playing today. We recorded this before the disaster (if you’re an England fan) that occurred in Perth, but that makes some of the frighteningly accurate observations made in this conversation more impressive. It is of course a reveal of how to win in Australia, but it is much more than that. From dealing with maverick talent to how to sort out domestic cricket, we’re delighted to welcome Andrew Strauss to the Business of Sport.Timestamps:00:00 Intro03:40 Ashes Predictions07:29 Parallels Between the 2010/11 Win and Today’s Team14:46 The Most Nervous Game17:29 Is Modern Sports Stardom Any Different Today?24:13 Breaking Down Central Contracts & Player Income27:08 Players Get More Exposure Than Ever31:12 Balancing Individual Brilliance with Team Structure34:18 How Bat Sponsorship Deals Actually Work41:33 Resetting English Cricket45:56 How Franchise Cricket Is Reshaping Test Player Pathways49:32 Is County Cricket Financially Sustainable?53:18 Why Distribution Isn’t Enough58:20 If You Had to Choose One Sports Asset to Buy01:00:41 How Athletes Transition Into Business Roles01:03:28 How Captains Balance Leadership and Individual Output01:08:00 The Ruth Strauss Foundation01:10:16 Quick-Fire RoundOn today’s show we discuss: Ashes Predictions and How To Win Down Under:The brutal realities of touring Australia. Bounce, conditions, the Kookaburra ball, and the psychological toll of playing in a “goldfish bowl.”Why England have won just one Test in Australia in 14 attempts, and why preparation is everything.The inside story of the 2010/11 Ashes triumph and what that team got right.The psychological battle of opening the batting, staying calm when the ball is flying past your ears, and facing the greatest to ever do it. Including Strauss’s unforgettable encounters with Shane Warne.Running Elite Cricket & Winning a World Cup:What Strauss changed after England’s 2015 World Cup disaster and how it led directly to the 2019 World Cup win.Why he pushed for white-ball specialists, a fearless scoring philosophy, and a total cultural reset.Inside the tensions between formats, franchise cricket, and player availability and the challenges of managing England cricket like a true performance organisation.The Hundred, County Cricket & the Future of the Game:The truth about county cricket’s finances. £40k average salaries, 450 professionals, and no sustainability.Why Strauss believes English cricket needs fewer teams, fewer matches, and an elite first division to compete globally.The insane valuations in The Hundred, why investors bought anyway, and how private capital will reshape cricket whether counties like it or not.What Test cricket will look like in 20 years.A huge thank you to our amazing partners on the show: StrydeBringing sports investment opportunities to your door. Visit http://www.gostryde.com to become part of the movement!

Emily Frazer is the CEO of Matchroom Multi Sport. She's led the charge in transforming sports like 9-ball pool into fast-growing, commercially compelling global properties, building new formats, elevating athlete storytelling, and bringing fresh audiences into what we could call a challenger landscape. The Multi-Sport story was told to perfection in the recent Matchroom Netflix series, shining a light on the lesser known side of the organisation at the centre of the boxing world and driving the boom we’ve seen in the darts. The question for Emily is simple: can the success in these other sports be replicated in the multi-sport model?Ahead of the Mosconi Cup next week at Ally Pally (pool’s answer to the Ryder Cup), Emily delivers a compelling reveal on life behind the Matchroom curtain and what it’s going to take to deliver an emerging sport on a global stage. Timestamps:00:00 Intro05:01 What is Multi Sport?16:31 How Early Opportunities Accelerate Learning20:53 How Did Matchroom Become the “Owner” of the Sport?26:35 What’s the Master Plan to Make Nine-Ball a Global Sport?31:46 Is Narrative More Important Than Quality Now?34:14 The Upcoming Mosconi Cup36:33 Do Athlete Brands Matter More Than Teams Now?40:47 Is It Truly a Viable Job for Players?44:11 Where Matchroom’s Core Revenue in Pool Comes From49:42 Should Matchroom Create a Unified Fan Loyalty Program?54:41 Pressure to Match Darts’ Success59:59 Why Pool Is More Accessible Than Snooker01:03:09 Quick-Fire RoundOn today’s show we discuss: From ‘Special Events’ to a Global Multisport Division:How a once-overlooked corner of Matchroom evolved from “the joke department” into one of the company’s fastest-growing verticals.The commercial blueprint Matchroom is applying, from multi-table events to digital-first broadcasting, social virality and new formats.The weight of carrying a whole sport on your shoulders, and why Emily believes that “80% crazy” is an essential part of the job.The belief that with the right innovation, risk, and relentlessness, Pool will become a global powerhouse.Athletes, Pressure & Player Pathways:The human realities of managing athletes in a developing sport. Expectation, frustration, and the emotional weight of leading a tour they rely on to feed their families.Why Pool is one of the rare sports where amateurs can face legends, and how that creates powerful fan moments that drive new fandom.How the rise of local ranking events has unlocked hidden talent in Vietnam, the Philippines, the U.S. and beyond.Commercial Strategy, Media & Monetisation:The economics of Pool today: ticketing, sponsorship, WNT TV, and the importance of viewership for long-term sustainability.Why Pool cannot rely on tradition or federation structures, and must innovate faster and more aggressively than snooker or darts ever did.The long-term vision: a profitable global tour, star-driven marketing, and a world where Pool sits alongside darts and snooker in Matchroom’s “big three.”A huge thank you to our amazing partners on the show: DavidGo and check out the amazing products revolutionising the protein bar at https://davidprotein.comStrydeBringing sports investment opportunities to your door. Visit http://www.gostryde.com to become part of the movement!Mosconi Cup Ticketshttps://www.alexandrapalace.com/whats-on/mosconi-cup/

Chris Millard, Head of the Barmy Army, shares insights into this vibrant community of cricket fans and their impact on the Ashes. He reveals the intricate planning behind the 3,500-strong tour to Australia and discusses the balance between commercial success and maintaining the Barmy Army's core values. Learn about the revenue growth driven by Bazball's resurgence in Test cricket, the challenges of solo traveler support, and the unique atmosphere they create. Millard's passion shines through as he predicts a thrilling Ashes series ahead!

Dan Biggar, an international Welsh fly-half with over 100 caps, discusses the future of rugby amidst financial challenges and the importance of player branding. He highlights the decline of Welsh rugby, the funding model of the WRU, and the need for centralized talent development. Biggar shares insights on coaching styles, recounts memorable World Cup moments, and emphasizes preparing for life after rugby by building personal brands. He also critiques the impact of new challenger leagues on the sport's sustainability.

Multi-club ownership groups have had a tough year in the eyes of many, with high profile cases around Crystal Palace & Lyon as well as Forest & Olympiacos showing the competitive risk of one owner or group having too much control over multiple entities. But, and it is a big but, this model can be a hugely valuable business and performance structure to apply to football.Tim Bezbatchenko is the President of Black Knight Football, the group who owns or has minority ownership in multiple clubs including Bournemouth, Hibernian, and Lorient in France to name a few. It’s an amazing time to be having this chat with Tim due the success Bournemouth are achieving this season, miraculously after another summer of selling some of their best players. This is an insight into how they have built a player trading model to offset the financial challenges of having an 11,000 seater stadium, the plans to develop infrastructure, the value of shared intelligence and analytics across multiple clubs, and most importantly how you protect the badge of each team so they do not just become feeders to the premium asset in the group.This is a proper look at the MCO model from someone who firmly believes that collective value can breed the best business in football. We’re delighted to welcome Tim to the Business of Sport.Timestamps:00:00 Intro04:26 What Black Knight is really about12:07 The business edge of owning multiple clubs17:02 Inside Bournemouth's rise under Andoni Iraola25:45 Bill Foley's mantra: "Always Advance, Never Retreat"31:24 How Bournemouth sells stars yet keeps getting better44:52 Building a sustainable club: revenue, academy & player trading01:01:14 Why Bill Foley chose Bournemouth over an MLS teamOn today’s show we discuss: The Rise of Black Knight Football Group:What it takes to build a multi-club ownership group across five countries and why Bill Foley’s “Always Advance, Never Retreat” mantra is shaping everything from the Premier League to Portugal.How AFC Bournemouth became the flagship club for a growing global network that includes Hibernian, Lorient, and Moreirense.Why multi-club ownership is football’s next frontier and how to build it sustainablyInside the Business Model:The economics behind owning multiple clubs from shared scouting, player development, and data systems to group-wide sponsorship deals.Why player trading drives profitability, and how clubs like Lorient and Moreirense fuel Bournemouth’s long-term success.The art of finding value: buying clubs with strong DNA and fan culture, not just financial upsideHow Black Knight is using its network to develop talent like Junior Kroupi and accelerate their pathway to the Premier League.Why football’s next phase will be defined by structure, not just spending.Building a Sustainable Premier League Club:Inside Bournemouth’s transformation from League Two survival story to Premier League mainstay.How a £45m training ground and planned stadium expansion are reshaping the club’s future.The economics of player trading, matchday revenue, and sponsorships and what it really costs to compete with England’s eliteA huge thank you to our amazing partners on the show: David:Go and check out the amazing products revolutionising the protein bar at https://davidprotein.comStryde:Bringing sports investment opportunities to your door. Visit ⁠http://www.gostryde.com⁠ to become part of the movement!

The celebrity investor coming into football as part of an ownership group is nothing new these days, but there were more than a few eyebrows raised when it was announced that Snoop Dogg, alongside footballing legend Luka Modric, had become a minority investor in Swansea. There must be something in the Welsh water. Swansea is storied club with a hugely passionate fanbase and a recent history of Premier League football and both elite player and manager development. Getting to the bottom of what facilitated this high profile involvement is one thing, but CEO Tom Gorringe is facing all the usual challenges of creating an elite playing environment delivering results on the pitch while trying to ensure the business is exceeding expectations to allow the club to spend money and challenge for promotion. There are some statistics in here that shocked us, some conditions that have to be taken into account that are unique to this club, but when reflecting on this conversation, this is a team absolutely moving in the right direction. It’s maximisation of financial opportunity without losing your values alongside how we’re still gunning for a Snoop Dogg, Just Eat, Rossi’s collaboration to take place pre game (one for Swansea fans/if you’re not go and google the iconic fish and chip establishment). Let’s get on with it. We’re delighted to welcome Tom to Business of Sport.Timestamps:00:00 Intro03:24 On Staying Open and Connected with Fans06:53 What Tom’s Job Actually Involves09:14 How Modric and Snoop Joined the Club14:54 Death Row Records Deal18:11 The Power of Celebrity in Football20:38 The Revenue Drivers23:01 Content Strategy25:13 How Communication Works with Multiple Owners29:56 Lessons from Bristol to Swansea31:05 Budgeting35:07 How Loan Deals Are Structured37:17 How Swansea Supports Players Beyond the Pitch38:22 Inside the Decision to Appoint Manager42:09 Ranking Why People Join Swansea44:41 The Role of Football Regulation Today47:10 Tom’s Opinion on Parachute Payments48:24 Is Owning a Club Serious Business or Just Fun?53:07 Quick-Fire RoundOn today’s show we discuss: Snoop Dogg, Luka Modric & a New Era for Swansea:How one of the most unexpected ownership stories in football came together.Why Snoop Dogg and Luka Modric invested in Swansea and how it’s changing the club’s global profile overnight.How the club is using celebrity partnerships to drive sponsorship, retail, and brand awareness including a Death Row Records x Swansea collaboration that broke sales recordsAuthenticity, Community & the Fans:Why Swansea’s local identity remains at the heart of everything and why openness with fans is one of Tom’s core principles.The balance between commercial growth and staying true to the club’s roots as a working-class, one-club city.How fan engagement and local pride are helping rebuild trust and unity across the clubFinancial Discipline & Sustainability:The economics of a Championship club in 2025. £21.5m turnover, £15m losses, and the battle for sustainability.How Tom cut £3.9m in annual costs without harming performance including the famous “dirty windows” moment.What running a Championship club actually costs, from stadium leases and catering royalties to travel and academy budgets.How the incoming football regulator could transform sustainability and fairness across the EFL.A huge thank you to our amazing partners on the show: StrydeBringing sports investment opportunities to your door. Visit ⁠http://www.gostryde.com to become part of the movement!

What does women’s football need to do to match men’s? Could it be even bigger? What is currently holding it back? Every so often, we have a chat on this show which pushes beyond the surface of sport. The potential, growth and popularity of women’s football has become a feature of macro conversation for years, but finding someone with the credibility and willingness to say it how it is is not easy.Meet Bex Smith, former New Zealand Captain, treble winner with Wolfsburg, FIFA Women’s World Cup executive, and now club owner. Having founded Crux Football, a MCO Group looking to build collective value across core assets in the women’s game, she is on a mission to be a key part of unlocking the business and performance success she believes is inevitable in the sport if the right structures are in place to support it. With the recent purchase of their first club Montpellier, the vision is about to become reality; it is not just an ability to affect an individual club but the change that needs to happen across the league and broader ecosystem that will determine true success.If anyone is going to do it, you’re about to meet her. No statements for the sake of it, no positioning without considered justification. It’s the women’s football show we’ve been waiting for. Timestamps:00:00 Intro05:38 Why Montpellier Was the Perfect Start14:04 Building the Right Financial Structure18:04 The Valuation Problem in Women’s Football23:35 Why Women’s Football Need To Stop Copying the Men’s Game34:37 The Challenge of Managing Multiple Clubs36:47 The Path from Pitch to Boardroom41:12 Balancing Independence with System Constraints44:17 What Makes the Women’s Game So Investable48:20 Would Bex Buy a Club in England Today?49:14 How Players Drive Engagement and Value55:41 Why Equal Pay Isn’t the Whole Story58:22 Managing the Female Athlete’s Body01:03:53 Quick-Fire Round On today’s show we discuss: Rebuilding the Foundations of Women’s Football:Why the European women’s game “doesn’t work” under its current structure Why independence from men’s clubs is essential for real sustainability.How governance, league rules, and commercial structures need to evolve to match the women’s game’s unique audience and values.Why Bex believes women’s football can and should be bigger than the men’s game.Building Crux Football & Buying Montpellier:Inside the acquisition process of Montpellier and what made it the perfect first club.Why the French league is becoming one of Europe’s most investable women’s football markets.The operational blueprint behind Crux Football’s multi-club model.The Power of Storytelling & Icons:Why visibility and narrative are key to driving fandom and revenue.How the rise of icons like Lucy Bronze, Chloe Kelly, and Megan Rapinoe has reshaped global perceptions of women’s football.How Crux Football plans to use storytelling, content, and player-led media to grow audience and commercial valueAthlete Welfare, Data & Performance:How to build medical, technical, and performance systems designed for women, not men.Why data, analytics, and research are crucial to reducing ACL injuries and improving long-term player development.How Crux Football’s performance infrastructure and recruitment strategy will help close the gap in player care and analyticsA huge thank you to our amazing partners on the show: David Go and check out the amazing products revolutionising the protein bar at https://davidprotein.comStrydeBringing sports investment opportunities to your door. Visit http://www.gostryde.com to become part of the movement!

What is the world of LIV Golf really like? Cutting through all the noise and the image portrayed of a league propped up by PIF money incapable of supporting itself, is there another side? That’s what we take a look at with this week’s guest James Dunkley, Team Principal of Majesticks Golf Club, one of the 13 teams that compete on the tour. There is no denying the controversy that LIV caused when it was established, disrupting the world of golf and the established tours, taking some of the biggest stars of the game on big money and changing the format. But going beyond that, and most importantly the short term financial commitments it has required, what is the long term ambition, and how does this model fit into the broader game to co-exist with the sport’s other key organisations and tournaments while also tackling some of golf’s biggest challenges: ageing fanbases, stale formats, financial distribution outside of the top players.James takes us through the running of a team consisting of huge personalities and profiles like Ian Poulter, Lee Westwood and Henrik Stenson, the importance of creating a winning organisation, and why much of this tour is completely misunderstood by many. I won’t lie this opened my eyes to a side of LIV I hadn’t previously considered or appreciated, and I think it’ll surprise you too. Timestamps:00:00 Intro04:24 How do the teams work07:40 Reviving a stale sport11:00 Building a community & youth programs13:20 Inside Majesticks GC operations16:15 Why team golf is so exciting21:00 Relegation & Recruitment25:00 Building audience & identity30:00 Path to profitability42:44 $1.1 Billion in losses & long-term vision49:20 LIV's unique fan experience52:00 How LIV changed the way players competeOn today’s show we discuss: Inside the LIV Golf Model:How LIV’s $1.1 billion investment is building a long-term global sports property.Breaking down the commercial structure: team equity, prize money, sponsorship, and central funding from the PIF.How initiatives like Little Sticks are teaching life skills and values to tens of thousands of kids through golfMedia, Broadcast & Growth:How LIV Golf secured massive broadcast reach with Fox Sports, ITV, and global partners and why timing is everything.The challenge of changing golf’s viewing experience: more shots per hour, better storytelling, and making broadcasts easier to follow.Why accessibility, not exclusivity, will define the next era of golf mediaThe Future of Golf:How LIV, the PGA Tour, and the DP World Tour can coexist and why collaboration is key for the health of the sport.What the next five years of LIV’s expansion will look like: more team-based events, geographic franchises, and a clearer media presence.Why Dunkley believes golf’s “civil war” will give way to a stronger, more connected global gameA huge thank you to our amazing partners on the show: StrydeBringing sports investment opportunities to your door. Visit http://www.gostryde.com to become part of the movement!

Today, we’re delighted to welcome Pablo Longoria to the show. Pablo is President of french football giant Marseille, marking a welcome venture for us into European football! Make no mistake, this is a huge club steeped in history, the most passionate fans, and a global brand. Managing all of this from a business perspective is a serious job. Then of course add into it the need to create a winning team on the pitch to drive it all, and that is the challenge that faces Pablo.From scout and technical director to club President, his route to the top is unique in itself. The approach is absolutely ‘results first’. They have compiled a squad with a strong balance of youth and experience, including former Premier League players such as Pierre Emerick-Aubameyang, Pierre-Emile Hojbjurg, and of course Mason Greenwood, whose controversial transfer is covered in this chat as we look at how Marseille are approaching the transfer market. The broader challenges for the club extend into the chaotic media landscape of french football and the challenge with competing against the biggest and established leagues with less financial clout. Deep insight into top top level football is not abundant. This is a fascinating reveal of what is takes to run one European football’s most iconic organisations. Timestamps:00:00 Intro05:01 Pablo Longoria’s Path to Football Executive08:18 Joining Olympique de Marseille10:12 The State of Marseille When Pablo Arrived11:37 Revenues: Ticketing, Security, Food & Beverage20:19 How On-Pitch Success Drives Business Growth21:56 Pablo’s Role in Player Recruitment24:52 What People Get Wrong About Football Managers28:41 Football Director vs Manager: What’s the Difference?29:42 Managing Transfer Market Inflation39:33 How Fans Influence Transfer Strategy43:29 Learning from Transfer Mistakes45:45 Where Marseille Fits in the Football Pyramid49:22 Inside France’s Evolving Media Rights Landscape53:53 The Competitive Imbalance in French Football55:09 How CVC’s Investment Impacts French Clubs56:37 Winning vs Profitability Under U.S. Ownership01:01:26 The Concentration of Value in Top Leagues01:07:18 Underinvestment in Technology Across Sport01:10:49 Where Marseille Aims to Be in Five YearsOn today’s show we discuss: The Business of Modern Football:How Pablo is leading one of Europe’s biggest clubs through the most challenging media landscape in decades.Why Champions League qualification changes the balance sheet by up to 40%, and how to plan when your core revenue can fluctuate by €80 million.How Marseille balances community accessibility, with tickets as low as €12, against the commercial pressures of competing at Europe’s top tableBuilding for the Long Term:Why sporting performance is the engine behind every revenue stream.The psychology of team-building and Pablo’s “building-floor” theory explaining why some players succeed and others fail.How De Zerbi’s arrival marked a turning point for Marseille and what true alignment between coach, sporting director and CEO looks likeThe Media Rights Revolution:What the collapse of French TV rights means for clubs across Ligue 1.What leagues can learn from the Premier League’s ability to globalise its productTransfers & the Future of Football:Why Marseille’s recruitment strategy focuses on age profiles others overlook and how to find value.Why he believes football must evolve from a “sports industry” to an “entertainment industry” to survive the next decadeA huge thank you to our amazing partners on the show: David Go and check out the amazing products revolutionising the protein bar at https://davidprotein.comStrydeBringing sports investment opportunities to your door. Visit http://www.gostryde.com to become part of the movement!

Today, we’re delighted to welcome Richard Coleman to the show. Alongside one of our favourite previous guests Mr Guenther Steiner, Richard is the new co-owner and Team Principal of MotoGP team Tech3. This sport has had some big headlines since Liberty’s $4.9bn acquisition went through earlier this year. As the infamous owners of F1 who have played a major role in re-inventing the sport and making it one of the most popular and marketable entertainment products on the planet, it’s not hard to understand why the buzz has now spread to asking what it is that Liberty can do with MotoGP; a hugely popular and successful motorsport, but one that doesn’t have the global reach or brand power F1 has enjoyed. In a world of massively inflating sports assets prices and the clamour for good deals and unique opportunities, do these racing teams present some of the most exciting sports business opportunities on the market? The parallels to F1 are obvious, but this is also very much a property with its own values, diehard fans, and a plan to capture the audience in a way that differentiates itself from four wheel racing. This a look at the big business of MotoGP and the big potential of Tech3. Timestamps: 00:00 Intro03:50 Liberty Media’s $4.9B MotoGP Takeover10:04 Why MotoGP Is Undervalued16:23 Can MotoGP Fix Its Competitive Imbalance?20:02 How to Run a MotoGP Team Sustainably22:38 How MotoGP Teams Make Money26:52 The New Wave of Sponsors in MotoGP29:12 How MotoGP Can Create Global Superstars35:10 Can MotoGP Grow Without Losing Its Core Fans?42:47 The Core Risks Behind Investing in MotoGP46:09 Inside The Media Rights Structure47:45 The Attention Economy & Youth in Motorsport51:56 What Makes The Best Riders?52:42 Why Riding a Bike Is Harder Than Driving an F1 Car54:00 Health & Safety in MotoGP01:00:29 Quick-Fire RoundOn today’s show we discuss: 1. The Business of MotoGP:How the $4.9bn Liberty Media acquisition has transformed the outlook for MotoGP and why the new owners are betting they can replicate the Formula One boom.What this means for valuations across the grid, and how teams like Tech3 are transitioning from racing outfits into full-scale businesses and global entertainment brands.Why Richard believes MotoGP is one of the most undervalued sports assets in the world today.2. Inside the Tech3 Acquisition:The story behind Richard and Guenther Steiner’s joint purchase of the Red Bull KTM Tech3 team.The financial realities of running a race team: from start-money payments to manufacturer support and sponsorship structures.Why the goal isn’t just to compete on track, but to build a sustainable commercial operation behind it3. Building Global Reach:Why the sport must expand beyond Southern Europe to truly go global and the opportunities and risks that come with it.How MotoGP can attract younger and more diverse audiences, develop riders from new regions, and create stars with global recognition.The importance of telling the human stories. The “gladiators of the modern age” risking everything on two wheels4. Safety, Technology & the Human Element:How MotoGP is balancing spectacle with safety through better circuits, tech innovations, and airbag suits.Why confidence, courage, and connection matter as much as engineering and how the sport can make its heroes household nameThe unseen dangers of racing at 230+ mph and the deep bond between riders and their crews.A huge thank you to our amazing partners on the show: Stryde Bringing sports investment opportunities to your door. Visit http://www.gostryde.com to become part of the movement!