Business of Sport

This week we’re delighted to welcome Dominic Thiem to the show. We’ve waited nearly 100 shows but finally tennis has arrived, right in the middle of the US Open, which Dominic won in a 5 set epic in 2020. One of the few non-Federer, Nadal, Djokovic players to win a slam while those three were at their peak, Dominic’s career saw him win 17 ATP titles alongside the Slam before being forced into retirement at just 31 through injury. But in his own words, Dominic describes this as a ‘new beginning not a farewell’. From playing through the most incredible era tennis has seen, losing two French Open finals to Nadal and one Australian Open to Djokovic, receiving over $30m in prize money; this is a serious education that few could even think about experiencing. So how is Dominic applying this to his life away from the court, and what is it like for a tennis player when they move on from an individual sport that requires your 100% focus? As a big tennis fan, this was a special show to do with one of the most normal and humble athletes we’ve had the pleasure of meeting. A different conversation full of unique insight delivered through the sharing of stories that we all want to know about.  On today’s show we discuss:  The Power of Grand Slams: What makes the four Grand Slams such incredible events to participate in…and which one did Dominic enjoy the most? Playing Rafael Nadal in two French Open finals and the aura that surrounded one of the sport’s greatest ever players. Dominic’s triumphant 2020 US Open victory; coming from two sets down to achieve his lifetime ambition. The pain of loss and the 2020 Australian Open final defeat to Djokovic. The Finances of Tennis Players: Is the distribution of revenue from tournaments to players sufficient? Can you carve out a career for yourself if you are outside of the world top 100? The importance of capitalising on success to build your value as a brand off the court. A look at the ATP’s ‘Baseline Initiative’: does the effort to ensure players have a minimum fixed annual salary work? What was it like to receive his first paycheck of €4,000 just for playing in a tournament? How are the finances divided up amongst the players team when prize money is received? How it can cost nearly $1m for a young player to reach the top of the sport! The Tennis World Today: How important has the rise of Alcaraz and Sinner been to carry forward this next phase of tennis? The importance of academies and investment into tennis to make the pathway for young players easier to navigate. Is tennis about to see a LIV golf style disruption?  What rules would Dominic change to make the sport more appealing to the audience of today? A huge thank you to our amazing partners on the show: Stryde Bringing sports investment opportunities to your door. Visit www.gostryde.com to become part of the movement!

This week we’re delighted to welcome Simon Massie-Taylor to the show. Simon is the CEO of The newly branded Prem Rugby. The competition has faced well publicised challenges in recent years, with clubs going bust and broader questions around the viability of the sport as an attractive investment. But with attendances on the rise, commercial income flowing, major long term broadcasting deals and the Red Bull marketing machine as a new stakeholder, this is a competition looking forward not backwards.  With talk of challenger leagues and continual disruption to the established order of rugby, this is a perfect time to understand why Prem Rugby and broader club rugby in England still holds the greatest appeal. The challenge is grabbing that opportunity; an unrelenting commitment to ensure when fans tune into the sport away from the international game, that this is the competition they turn to. Let’s see what the plans are. On today’s show we discuss:  Investment in Prem Rugby: Why did Red Bull decide to invest in Prem Rugby with their purchase of Newcastle Falcons? Is club rugby a good investment when there are so many opportunities to buy assets in broader sport? There has been a new type of investor coming into rugby. Why is this important? Can you continue to run a league when clubs continue to lose money? What type of profile to Prem Rugby want to see from prospective owners? Improving the Product: Despite all the challenges the game has faced over the last 10 years, attendances are rising, media deals are getting bigger, commercials are stronger than ever. Why? The importance of attracting a new audience while maintaining the relationship with the existing fanbase. Why more isn’t always better; the challenger league conundrum.  Aligning the global calendar to ensure a clash of major tournaments does not diminish the quality of the game.  Financial Sustainability is Essential: What is the importance of good governance in rugby? Why understanding the responsibilities of each organisation and their executives will allow for a future of collective progress; rising tide lifts all boats. What did the CVC deal allow the league to do, and is more private equity investment on the horizon? How is the salary cap facilitating more responsible financial management? What does the future hold? Better financial performance and regulation to drive the commercial and investment viability of the sport. A huge thank you to our amazing partners on the show: RUNNA Whether you’re an existing use or if it’s your first time on the app, use the code below for exclusive access! https://join.runna.com/lKmc/redeem?code=BOSRUNNA  

Michael Beale is part of a top crop of young English managers. At 44, he has already managed QPR, Rangers, and Sunderland, while also forming a successful partnership as Steven Gerrard’s assistant at Rangers, Aston Villa and Al-Ettifaq. As virtually every manager quickly comes to realise, there’ll be some roles that work out, and some that don’t, but the most important thing to learn from the experiences that don’t turn out how you’d hope and come back a better coach and manager…there is a difference. Michael’s roots are in youth development, and has played a huge role in the development of both Chelsea and Liverpool’s academies over the years. Spotting, nurturing and improving talent is far away from the skills you may utilise leading a top first team, but for Michael, the root of everything is the relationships a manager has with their people and understanding how to build a culture that encourages development while maintaining an expectation to win. This is a look into football leadership unlike any show we’ve done. Don’t get lost in situations that haven’t worked for Michael; take a listen to the approach to leading in the modern football environment and what it takes to operate successfully in these now global businesses. A big thank you to High Performance who, if you’re watching, you will have noticed lent us their studio covering a last minute Business of Sport HQ glitch.  On today’s show we discuss:  The Roots of Coaching & Youth Development: How Michael’s journey began in a church hall in Bromley before moving into elite academies at Chelsea and Liverpool. The key traits he looks for in players as young as six years old, and why natural enthusiasm and competitiveness matter more than early perfection. The importance of relationships in youth development between coaches, parents, and players and how those lessons shape his philosophy today. The concept of “100 games” as the benchmark for players finding their true level. Managing at the Top Level: Why clarity of vision and remit from ownership is crucial when stepping into management roles at QPR, Rangers, and Sunderland. The demands of working with sporting directors, boards, and the media The reality of hire-and-fire culture in football, and what Michael has learned from the highs and lows of management. Why English football must allow mavericks to thrive. Global Perspectives & Opportunities Abroad: What Michael discovered working in Brazil and Saudi Arabia, and why culture is so influential in shaping players and footballing identity. The opportunities and challenges for British coaches abroad, and why he believes more should follow in the footsteps of Bobby Robson and Terry Venables. The ambition to return overseas in the future and the lessons learned from adapting to new footballing environments. Why he feels, at 44, he’s only just getting started as a manager, and what his long-term goals in football look like. A huge thank you to our amazing partners on the show: RUNNA Whether you’re an existing use or if it’s your first time on the app, use the code below for exclusive access! https://join.runna.com/lKmc/redeem?code=BOSRUNNA  

It’s a different take this week; welcome to Formula 1 on water! SailGP has become one of the fastest growing sports leagues, bringing sailing to the forefront of modern entertainment. The national teams that race identical F50 Catamarans go to some of the world’s most enticing coastal locations in a Grand Prix style format with millions in prize money on the line. The franchises are valued between $50m+ and owners include major PE and finance as well as consortiums of celebrities including Kylian Mbappe, Ryan Reynolds, Hugh Jackman and Anne Hathaway. As Managing Director, Andrew is in charge of the global water show as it continues to develop its product and fan base. But how do you successfully build and establish a new sporting product that delivers both the entertainment factor while proving financially sustainable? We talk about the competitiveness of the modern attention economy; the race is on (literally) to capture that audience and develop a new type of sailing fan. If you haven’t seen what SailGP is about, I highly recommend you take a look. Let’s see what it’s all about. On today’s show we discuss:  Building SailGP Into a Global Sport How Larry Ellison and Sir Russell Coutts created a commercially sustainable sailing league from scratch Why SailGP is designed like “Formula One on water” with national teams racing identical high-tech F50 catamarans The governance issues in the America’s Cup that inspired a new model Why centralising boat design, technology, and costs levels the playing field and attracts investors Ownership, Investment & Growth How franchise values have grown from cost-covering investments to $50M+ assets What makes the ideal SailGP owner and why passion for sailing matters The role of celebrity investors like Kylian Mbappé and the importance of authentic involvement The future expansion plan, from Italy and Brazil to potential markets like China, Japan, and Mexico The Business Model & Financial Sustainability How SailGP’s cost cap protects teams while encouraging investment in marketing and fan engagement Breaking even in professional sport: how top teams generate $8–9M in revenue Key revenue streams: sponsorship, branding on boats, hospitality, merchandise, and ticketing Why data sharing between teams improves competition and performance Fans, Media & the Attention Economy How SailGP is attracting younger fans through TikTok and YouTube Why 70% of Auckland event attendees had never been on a sailing boat The league’s broadcast strategy and challenges in monetising media rights Plans for behind-the-scenes content to rival Drive to Survive The long-term vision for 20+ national teams and global fan bases A huge thank you to our amazing partners on the show: RUNNA Whether you’re an existing use or if it’s your first time on the app, use the code below for exclusive access! https://join.runna.com/lKmc/redeem?code=BOSRUNNA  

Mark Devlin is the CEO of Leyton Orient, a team that’s been riding the rollercoaster of English football right on the edge in recent years. From nearly going out of business and dropping into non-league football to bouncing back into League One playoff finals, the fans have been on a ride the few would choose. However, new ownership and big plans to build both on and off the pitch make this London club a hugely exciting football proposition for the next decades.  What has this journey looked like from the inside and how is success being built into the fabric of the future? Having been so close to joining the list that no one wants to be near, alongside Bury, now Morecombe and even Sheffield Wednesday, Orient’s struggles are another glaring reminder of the house of cards an owner financing model presents to the Football League.  Mark is an experienced CEO, leading Brentford through the early years of their ride to Premier League consistency. His take on what is required to build a club for the community and fan while keeping the finance team happy is what sets the O’s apart, and promises big things for a fanbase juggling the mixed emotions of just being happy to still have a football team alongside a want and expectation to win. On today’s show we discuss: Recovering from Financial Disaster: They story of Leyton Orient's near terminal financial crisis; what happens when a club runs out of money and the owner will no longer cover the losses? Relegation to non-league football and the impact falling through the decisions has on a club. How do you claw yourself out of a situation like this. The stories are often of disaster, but Leyton Orient have more than recovered in the past few years. Are they in a better place now than they were before? The Value of New Ownership: What are the ambitions of new owner David Gandler and why did he decide to buy the club earlier this year? Where does the value lie in modern day football? What areas of the club need to be developed to both elevate the fan experience and make more money to fund the desired growth? What does it take to build a new stadium: from finding a site to financing a project in the hundreds of millions. Why this is an opportunity to build something that stretches beyond football; the value of a multi-sport model. Matching Ambition with Longevity:  Finding the balance between financial sustainbility and ambition is the hardest part of modern football ownership/management; what is Orient's plan to chase promotion while ensuring the business is safe? How much does it cost to get promoted? The crazy finances of the Championship laid bare... What did Mark learn from his time in charge of Brentford and applying some of the model they have so successfully been able to implement to reach and thrive and in the Premier League. The ambition is to be a sustainable Championship club, but do they dare to look beyond this? A huge thank you to our amazing partners on the show: RUNNA Whether you’re an existing use or if it’s your first time on the app, use the code below for exclusive access! https://join.runna.com/lKmc/redeem?code=BOSRUNNA  

Peter McCormack is the Owner and Chairman of Real Bedford, who play in the 8th tier of English Football. But this is unique for a number of reasons. We always look for the stories that represent a different approach to running sports assets, and building your Premier League ambition around Bitcoin is certainly one of those. Peter is the host of one of if not the biggest Bitcoin podcasts. As you’ll hear his journey to club ownership is as colourful as it is extraordinary; this is someone who has come through some challenging times to get to where he is now. As you’ve just heard in the intro, everyone laughed at him when he laid out the plan for Real Bedford, but with a wealth of both deep pocketed sponsors and investors, most notably the storied Winklevoss twins (of Olympic rowing, Facebook lawsuit, and Gemini fame to many of you I’m sure), this is quickly becoming a team with both the resources and strategy to fly up the pyramid. With a women’s team competing in the third tier and proving equally ambitious, the plan is to build a club fully representing the community, full of opportunity and success. The usual challenges remain: success vs profit, full attendances, wider football governance. But as this is a place where we want to look at how to create sustained value beyond football’s historic and increasingly out of date financial levers, the Real Bedford model is a captivating alternative. Not for everyone, not guaranteed to work, and certainly unorthodox, but a bold attempt to break the wheel. On today’s show we discuss:  Buying a Football Club How Peter went from addiction to building a media brand around Bitcoin The inside story of how Peter bought Real Bedford FC with podcast money How he convinced the Winklevoss twins to back a team in the tenth tier Why Real Bedford is run more like a startup than a sports club The brutal financial reality of owning a non-league football team Why so many lower-league clubs are unsustainable Brand, Identity & Culture Why Real Bedford has a clearer identity than most football clubs The value of cult storytelling, local community, and crypto-native branding What clubs get wrong about women’s football and how Real Bedford does it differently How ambition and relentlessness are what drives the project Why does crypto present an opportunity on the financial side of football ownership that traditional approaches miss? Leadership & Legacy What owning a football club taught Peter about management, burnout, and ego Why he’s building a club for his kids, not just for wins How he thinks about failure and what he’d do differently next time "It's not all about winning": Having this approach allows you to recognise success in broader terms, but does it only work at a lower level? A huge thank you to our amazing partners on the show: RUNNA Whether you’re an existing use or if it’s your first time on the app, use the code below for exclusive access! https://join.runna.com/lKmc/redeem?code=BOSRUNNA  

This week, we’re delighted to welcome Ryan Bertrand to the show, the only man to make his Champions League debut in the final…and of course win it in historic style with Chelsea in 2012. The regulars of you will know a conversation like this is exciting for us both as big Chelsea fans, and the shirts we wore throughout gave the game away anyway. But Ryan isn’t just the player who won that cup, played over 260 Premier League games, and was capped 19 times by England. This is a former athlete with a story to tell that incorporates exploration away from football; interests that fans, the media, even those within the game don’t associate with players. You can do business, learn business, all while playing at the highest level. You can also leverage the power of your network and your unique experiences to add something few others can to businesses outside of the game. This is something we encourage athletes, the ones who are interested off their own back and the ones who may not have understood the possibilities, to do in a world where opportunity can come from multiple sources. Ryan has built businesses, managed people, and carved out a path that now positions him to succeed at scale. What can you learn from him? It’s the balance of the stories we of course are desperate to hear paired with his transition from player to multi-faceted operator.  On today’s show we discuss:  Football Culture, Clubs & Career Decisions What Ryan learnt from being around legends like Drogba, Lampard, and Ashley Cole? What makes a great dressing room character and why every team needs one What happens when a club loses its “win at all costs” mentality? Why the best Managers are honest with their players and who was the worst manager he played under What really goes on during loan deals, and why he cancelled his own loan? How do directors, signings, and behind-the-scenes agendas shape team selection? Money, Fame & Mistakes What’s the financial trap that catches most young players off guard? Why do so many players go broke despite millionaire contracts? The mistake that almost cost Ryan his England career Why did Ryan get into investing and how’s he helping other players now? What does Ryan think about today’s player brands? Retirement, Identity & Reinvention What’s the real emotional toll of retiring from football? What happens to your identity when you’re no longer “the footballer”? What advice does he give to younger players about career and legacy? Why did Ryan refuse to be defined by punditry or football alone? What would he change about how football prepares players for life after sport? A huge thank you to our amazing partners on the show: RUNNA Whether you’re an existing use or if it’s your first time on the app, use the code below for exclusive access! https://join.runna.com/lKmc/redeem?code=BOSRUNNA  

Guenther Steiner, the former Team Principal of Haas F1, is known for his dynamic personality and candid insights. In this engaging discussion, he shares the pressures of managing an F1 team, from financial strategies to the complexity of leadership transitions. Steiner reflects on life after leaving Haas, highlighting newfound independence and unexpected opportunities. He also delves into the transformative impact of 'Drive to Survive' on the sport and the evolving dynamics of talent and finances in F1, making it a must-listen for fans.

This week, we’re delighted to welcome Thomas Robson-Kanu to the show, known to many of you I’m sure as Hal. The different names he has gone by is the perfect demonstration as to why this is such a unique story. A footballer with over nearly 500 competitive games under his belt and a businessman with revenues in the tens of millions, Thomas is the epitome of creating additional opportunity alongside elite sporting performance. Many of us think straight to that momentous moment in Euro 2016 when he scored the goal of goals against Belgium to put Wales in their first Semi-Final. As incredible as that was, it doesn’t come close to doing him justice. The Turmeric Co has become a leading company in the food and beverage industry, with the shots extracted directly from turmeric roots linked to Hal overcoming career ending injuries and chronic inflammation. We have to be careful about how we directly link this to recovery, but everything points to major health benefits and recovery. But how do you build a business and compete in the Premier League at the highest level? This is a conversation for everyone; any athlete looking to understand how you can influence the business world, Hal gives one of the best explanations we’ve heard on 80 shows. Anyone interested in the realities of building a business alongside another high intensity career, this is also for you. Not to mention, from a fan point of view, it’s another reveal on the people behind the athletes we celebrate but don’t give full recognition to.  We have put a link to the Turmeric Co below (not a paid advert!) because I think this genuinely something you should try. I’m excited for you to hear this.  On today’s show we discuss: Football, Media & Player Empowerment What was it like to walk away from football while still receiving offers? How do you recover after being told you’ll never play without pain again? Why do so few players take control of their own stories? How does the football system fail young players in preparing them for life after the game? Why media narratives can overlook the full story of a player's journey Entrepreneurship & the Athlete Mindset: How did he balance building The Turmeric Co. while still playing professionally Why sports people make the best entrepreneurs Why resilience, discipline, and recovery matter just as much in business as in elite sport Building a brand off the back of a sporting career The mindset of training like every game could be your last and how that mentality translated to startup life What made Hal believe a turmeric shot could replace surgery Footballing Legacy Why careers aren’t defined by stats, but by moments. The magic of the Euro 2016 tournament and how it reshaped Hal’s legacy How can players prepare emotionally and financially for retirement Mentoring the next generation: what young footballers need to hear now. A huge thank you to our amazing partners on the show: RUNNA Whether you’re an existing use or if it’s your first time on the app, use the code below for exclusive access! https://join.runna.com/lKmc/redeem?code=BOSRUNNA AND You can get your hands on some of the awesome Turmeric Co products here with our special code BIS30 for 30% off of orders!

This week, we’re delighted to welcome Wolves Chairman Jeff Shi to the show. Having been at the club since 2016, he has been a key part of the club’s rise from Championship survival to top half Premier League finishes and European quarter finals. Currently enjoying their longest run of Premier League football, there is a lot to be proud of.  Jeff hasn’t done a huge amount of interviews. With the club surviving a tricky period last year when their top flight status was at risk for half the season, now is the time to talk to the fans and wider football community about both his ambitions for the club moving forward and how he believes a club needs to be run to bring both stability and success. He is candid in his reflections; it took him a while to understand what it really takes to run a club in this country. But in this era where there is a demand for access and insight into our top teams, a Premier League Chairman keen to come and open up on his philosophies and development plans is to be admired. From signing top European players while in the Championship to building for the future with Vitor Pereira, it’s time to take a look inside a top Premier League team. On today’s show we discuss: The Wolves Project: Why Wolves is still seen as a project in progress and how the club has evolved under Fosun’s ownership What kind of long-term vision Fosun has for the club, and why sustainability now outweighs pure spending Balancing business logic with football emotion  How Wolves preserve their club identity while operating as part of a global group Why Jeff sees his role as a ‘guardian’, not just a CEO and how he tries to protect Wolves' long-term future Player Trading and Squad Building: How Wolves approach squad construction after big-name departures Why Jeff doesn’t regret selling key players and what he looks for in a signing beyond just talent How Jorge Mendes, data, and direct club scouting all influence Wolves’ recruitment model The economics of selling academy players and why the club must now “sell smart” Why Wolves is one of the best clubs in Europe for young players to develop Financial Reality of the Premier League: Why Wolves' net spend has dropped and why that doesn’t reflect a lack of ambition How the club is adapting to stricter FFP regulations and evolving its internal culture What fans misunderstand about sustainability, profit, and the cost of competing with richer clubs The challenge of stadium redevelopment and how infrastructure investment plays into the club’s future A huge thank you to our amazing partners on the show: RUNNA Whether you’re an existing use or if it’s your first time on the app, use the code below for exclusive access! https://join.runna.com/lKmc/redeem?code=BOSRUNNA Revolut Click the link below to sign up and get your £200 welcome bonus! https://get.revolut.com/z4lF/20VC