Business of Sport

Today, we are delighted to welcome Steve Pagliuca. Steve is a co-owner and Managing General Partner of the World Champion Boston Celtics and serves on the NBA Board of Governors. In 2022, he became co-owner and co-chairman of the Serie A football club, Atalanta. Away from sport, Steve has helped to build Bain Capital into one of the world’s leading investment companies. In today’s episode, we discuss: Football club ownership: Why was Steve interested in buying Atalanta in Italy and how has he found life as a football club owner? The importance of qualifying for European competitions and the financial opportunities it creates. Steve’s love for the passion and fandom that drives Italian football and the unique community environment it creates. What does the process look like when buying a player and Steve’s role in recruiting star striker Rasmus Hojlund.  How has Steve applied his experience in business to the world of football and how does he work with the club to set budgets, buy players, and drive new revenue initiatives? Boston Celtics & the NBA: How Steve became part of the ownership group that bought the team for $350m that now has a market value of over $4bn. The pressure of bringing success back to the joint most winning team in NBA history, and the importance of that championship win in 2008. The opportunities created by the NBA’s 50:50 partnership with the players, and the possibilities of the model being replicated in football. Taking the NBA on the road and the drive for international expansion. The process of buying clubs and franchises: How do you buy a club? What has been Steve’s experience of identifying and negotiating deals to acquire assets and the finances required to do so. The Chelsea sale: Steve’s role in the bidding process and the huge numbers behind the sale of a top Premier League club. Steve’s views on the challenge presented by competing with clubs owned by sovereignties. The importance of making sure that not only is there enough financial backing to buy a club, but also the reserves to run it so the long-term goals can be achieved.  

This week we welcome Steve Bruce to Business of Sport. Steve played over 700 games for some of England’s biggest teams, most notably captaining Manchester United in the 90’s, winning multiple league titles and FA cups. After retirement, Steve made the move into management, taking charge of over 1000 games with the likes of Newcastle, Aston Villa, Birmingham and Wigan. In todays episode, we discuss: Life as a player: How Steve found his way from early beginnings at Gillingham to the heights of Manchester United. How did contracts differ from what we see in the market today, and what did the finances look like? Sir Alex Ferguson: what made the former Manchester United manager so special and what was it like to play under him? How to captain the likes of Eric Cantona and Ryan Giggs, and what did the team do to support them? Steve’s leadership style and the importance of managing the individual in a team environment.  The move into management: How did Steve leverage the experiences as a player to become a successful Premier League Manager? After four jobs in two years, Steve talks through the importance of finding stability and consistency at Birmingham. The difference between playing with big personalities and managing them, and how to get the best out of the ‘maverick’ player. Managing up and down and the relationship with the owner: from falling out with Simon Jordan to being coveted by Dave Whelan. The hiring and firing process: what actually happens in the crazy employment cycle of a football manager?  A life in football: How did Steve balance a young family with the demands of professional football? From supporting Newcastle to managing them through a difficult time in the club’s history. How did that impact Steve and his family? The responsibility associated with ensuring players reach their full potential, and the biggest reasons some don’t manage to. What is next? 40+ years and not stopping yet, what is in store in the future?   

This week we welcome Michael Doughty to the show. Michael was a professional footballer for over a decade, playing in the Premier League for QPR followed by a successful Football League career, most notably at Swindon, until his retirement in 2020. He has since set up sustainability focused sporting goods company Hylo Athletics, with the mission to ‘protect the future of running and sport’. In today’s episode with Michael, we discuss: Coming through the academy system: What is it like to begin a ‘career’ at the age of eight and deal with the constant pressures associated with a performance driven system? How did Michael deal with the disappointment of being released by Chelsea and the subsequent transition to QPR? What are the sacrifices required to be successful in this environment and what are the longer-term impacts? Can more be done to protect individuals who fall out of the academy system and help them secure opportunities elsewhere in football and beyond? The challenge of finding a sense of belonging in football: ‘Footballers are somewhat different but very simple human beings in a great way’. How did Michael manage external perception with his reality? Having taken the unusual path of private education and professional football, how did Michael find an identity in two contrasting environments? The highs and lows of the loan system; when are opportunities presented and when do they need to be manufactured? How did Michael’s relationship with his father Nigel shape his ambitions to become a professional player? A career at the top of the game: What was it like for Michael to achieve his ultimate goal and make his first Premier League appearance at such a young age? How to handle disappointment when Michael was told by QPR manager Harry Redknapp that he wasn’t in his plans for the 1st team. How did Michael accept the transition from being a Premier League player to playing in League One and Two? What are the true economics of football contracts and how difficult is it to manage money as a young player? Making the transition from football to business: How did Michael make the decision to give up his football career and pursue Hylo Athletics full-time? What is Hylo and how does it differ from other sports brands in the market? The importance of having a clear goal and mission for the team to get behind when tackling sustainability. Why is it important for athletes and people of influence to use their platform for good?

This week we welcome Pat Cummins, captain of the Australia Test and One-Day team. Pat is about to lead newly crowned World Test Champions Australia into a hotly anticipated Ashes series against England, his first as captain.  In today’s episode with Pat, we discuss:  The responsibilities of a captain: How Pat became Australia captain and the key principles he sought to imprint on the team. The importance of building a culture that is inclusive and fair while ensuring the highest standards are maintained. Pat’s philosophy on leadership and how it differs from previous regimes. What does Pat do to balance his relationship with the players and management to ensure the responsibilities never come into conflict? Managing the personal and the professional: ‘We play over 100 days of the year for Australia’. How does Pat balance family life with professional commitments? How to manage the highs and lows of professional sport and the importance of forming strong relationships in a team environment. The importance of routine and consistency when not on the pitch; find the habits that work and repeat them. How does Pat deal with pressure? How does he handle the increased scrutiny that comes with being captain? The emergence of franchise cricket: The rise of T20 cricket and the demand that places on the schedules of players. The financial opportunities franchise leagues like the IPL offer and how that has changed the sport. ‘We want our best players playing for Australia as much as we can’. How does international cricket compete against franchise leagues? What is Pat’s decision-making process when choosing which tournaments to play? Interests outside of cricket and exploring the investment world: How important is it for Pat to have passions away from cricket? Pat’s experience as an angel investor and the transferable skills of professional athletes. Founders want increased brand awareness and content. Pat’s desire to change the expectations placed on athlete investors. The opportunity to build more media value and sustainability around longer-form cricket to accompany the success of the short-form game.  

Jamie Reuben, Co-Owner of Newcastle United FC, discusses plans to build a top-level club, hiring the right people, the role of data in talent acquisition, and the commercial opportunities of the Premier League.