Business of Sport

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/

Another first class Football League CEO in the studio this week. Liam Dooley has been in charge of Shrewsbury town, League one’s longest serving club, since 2023. Operating on the smallest budget in the division, balancing good business with competitive performance is not easy. Shrewsbury have had 10 consecutive years at this level, but are currently bottom of the league having lost their last four games. But, with their latest accounts showing they have halved their annual losses, the business side has impressed. With a top manager like Gareth Ainsworth in charge on the pitch, the fight is on to escape relegation and attract new investment. We’re back again; how do you build great business off the pitch and win on it?  In today’s show we discuss: The Business of a League One Club: Can a football club be good business?  Has the profile of football club owners now changed so much that ‘local’ owners are no longer able to meet the financial needs of clubs? What is the correlation between spending the most and achieving on the pitch the lower down the leagues you go? Why did Liam focus so much attention on reducing the club’s financial losses in a short space of time and what are the wider impacts of cutting costs? Shrewsbury Town: Overachievers? Shrewsbury Town are the longest serving club in League One; how has a club with a small budget managed to achieve consistency in a financially driven market. How can you be successful when you have the lowest budget in the league?  With the club currently looking for investment, what is the profile of owner that’s most attractive to the club and their fans? How has Gareth Ainsworth come into the club and created a positive environment even if results aren’t going Shrewsbury’s way? “Build a Club not a Team”: It is important to create a culture in the club that is more than just the men’s team on the pitch for 90 minutes every Saturday. How do you do this? Why the women’s team is separate from the operational running of the club, and where does women’s football sit in the future plans of Shrewsbury? Leveraging the academy to create future stars for the first team and to become an additional line of business when clubs buy your talent. What happens to the club if it gets relegated? Are there things that have to be sacrificed or put on hold? A huge thank you to our amazing partners: Orreco  https://www.orreco.com/ Scan.com https://uk.scan.com/

Today we welcome one of football’s most iconic CEOs. When Peter Kenyon moved from Manchester United to Chelsea in 2003 after Roman Abramovich bought the club, it was the first time a move in the boardroom was treated like a player transfer. Sir Alex Ferguson was said to be ‘intensely disappointed’, not least because he recognised the role Peter played in the success of United at the time. Having built Man Utd into both a performance and commercial powerhouse, Peter took on the task of executing Abramovich’s vision; to build the best club in Europe. From working with Ferguson to hiring Mourinho, from creating culture to delivering trophies, we get an answer to the question we have asked for a long time: How to build success off the pitch AND win on it? It doesn’t get much bigger than this.  On today’s show we discuss: Manchester United: Building a Global Brand Sir Alex Ferguson was key to the success of Manchester United on and off the pitch; why you couldn’t detach winning from the commercial achievements of the club. “Why are some businesses successful and others not? It’s down to people”. The importance of building the best team for the job at hand. It wasn’t necessarily about signing the best players; it was about signing the personalities that fit the culture. Why United were able to capitalise on their success from a business standpoint where Liverpool didn’t. The story behind Rupert Murdoch’s failed acquisition of the club in 1998. The Move to Chelsea: Why did Peter leave the biggest club in the country to take over at newly owned Chelsea in 2003? “Abramovich was an unbelievable owner”. What made Chelsea’s owner so great for his 20 years of stewardship and what makes the best owners in football? The story (and theory) behind firing Claudio Ranieri and signing Jose Mourinho, and why it just may be the best money Chelsea spent. Conversations with Abramovich before he bought the club included a very clear set of ambitions and a definition of what success looks like; what were the targets? What was the hardest deal to get done while Peter was in charge of Chelsea? The Industry Today: “The downfall of United was the success of United”. Why it is so important to have a succession plan in sport. Are we seeing a break in the relationship of a necessity to win to drive strong commercial performance?  It may pain Peter to admit it, but why does he think Liverpool have done an exceptional job in recent years where others have struggled? In a nod to his current board seat at Williams F1, why the Williams comeback will be the greatest in sporting history! A huge thank you to our amazing partners: Orreco  https://www.orreco.com/ Scan.com https://uk.scan.com/

This week, we’re delighted to welcome Lee Johnson to the show. Lee has had a stellar career as both a player and manager, playing over 400 games before becoming the youngest manager in the Football League at 31 when he took over at Oldham in 2013. Since that first job he has managed some historic clubs including Sunderland, Bristol City, and Hibernian. After a tough year, leaving Hibs followed by a very brief spell at Fleetwood, Lee took the time out to reflect on the next stage of his career and gain some different experiences, from working with Manchester City’s development squad, to going to Africa to source the best young talent.  The life of a football manager is a pretty crazy one. You live on a knife edge; job security is not something that exists for 99.9%. Lee has been a victim of his own success on more than one occasion, over-achieving and setting new expectations that then need to be continuously met. Hire and fire culture is a reality of modern day football, but it’s not a good one. What is it like being on the manager's end of the deal? A huge advocate of technology, data and modern coaching methods, this is a detailed review of life as a top level manager while also looking at an evolving football industry continuously in a state of unpredictable change. As always with the best football shows, topped off with some eye-opening stories! On today’s show we discuss: Life as a Manager: From becoming the youngest manager in the Football League to taking a break following two sackings in a season, the ups and downs of management. What was the transition like when Lee made the step from being part of a dressing room to leading one? What is a manager’s greatest anxiety? Learning from the best; how a relationship with Kenny Dalglish helped Lee establish his managerial career. ‘Sometimes football gives you a rest’. What is next for Lee now he has had some time out from the game? Why managing mavericks in the game is something a manager has to learn to use to the team’s advantage. Managing Top Clubs: ‘Bristol City was a team for tomorrow’. What does Lee mean by this? The importance of balancing good business and player sales with ambition on the pitch and being able to compete. A manager can very quickly become a victim of their own success; how strong starts at Bristol City and Sunderland raised the bar of expectation for future results.  How do you manage up? Why the relationship between manager and owner is crucial. Changing the goal line; how a job can be sold to a manager as one thing and be very different when you get there. What it was like beating Jose Mourinho and competing with Pep Guardiola in a historic Bristol City cup run. The State of Football: Are clubs making too many business decisions that are not based on sporting success?  Data led recruitment has become the most important strategy in football, but are there other things to consider when signing a player? Should managers change their style when you get promoted to a new league? Our Partners: Orreco  https://www.orreco.com/ Scan.com https://uk.scan.com/

This week, we are delighted to welcome James Barclay to the show. James is Team Principal at Jaguar Racing, the current Formula E constructors World Champion. We have done some amazing shows on Formula 1, but this is a new area to venture into. Formula E is the fastest growing motorsport in the world.  It has been a rapid rise for electric racing since the first season in 2014. In an age where the environment and sustainability dominates, this format has become a pioneer of ‘green’ sport, influencing the technological development of electric cars and influencing broader automotive consumption habits. With the now infamous rebrand of Jaguar at the end of last year, what role does the company’s participation in this sport now play in broader company objectives built exclusively around electric vehicles? James has been the team Principal since 2015, when the manufacturer first entered the sport. This was the chance to sit down and discuss this alongside the success of Formula 1, understand the similarities and differences, and review how the business of the teams and wider sport works. It’s an entertainment product for the modern age, and a modern audience.  What makes the Jaguar car faster than an F1 car 0-60? What is the cost of running a Championship winning team? Could Max Verstappen win in a Formula E car? Let’s find out. On today’s show we discuss: The world of Formula E: Creating a new sport - the origins of Formula E and how it differs from other forms of racing. How has it evolved since its inception; from a concept on the back of a napkin to leading global motorsport. What do the revenue streams look like for a Formula E team? From sponsorship to prize money to media rights. Do spending caps and regulations placed on the teams drive financial sustainability? How media rights and the mediafication of sport has affected Formula E? Is there a Drive to Survive moment on the horizon? How do drivers become Formula E drivers rather than another motorsport? What are the differences? Formula E vs Formula 1: What are the similarities between the two formats?  What has F1 copied from Formula E? Are the two in competition or can they coexist harmoniously? How would F1 drivers fare in the Formula E championship? If you put Max Verstappen in a Jaguar car, would he win the Championship? What lessons can Formula E take from F1 when it comes to global outreach? Do Formula E’s cars lead to better racing? More overtakes, quicker acceleration, more skill? The future of EVs and Jaguar: How much does Motorsport at the elite end influence global consumer habits across an automotive industry? How the Jaguar rebrand towards EVs affected their participation in Formula E? Is all press good press? In what ways do the sponsors in Formula E advance the overall development in EV technology? Holding exclusive rights to electric racing until 2039, is Formula E the future? A huge thank you to our amazing partners: Orreco  https://www.orreco.com/ Scan.com https://uk.scan.com/