Business of Sport Abu Dhabi punches its way into global boxing reckoning Having won the battle to become the international home of UFC (Ultimate Fighting Championship), Abu Dhabi is now looking to rival Las Vegas and Saudi Arabia as a destination to host the world’s top boxing matches. UFC, the multi-billion dollar mixed martial arts organisation, signed a deal with the Abu Dhabi Department of Culture and […] September 1, 2022
Business of Sport Smith defects to Saudi-backed LIV in major blow to PGA Tour Australian golf fans may be split over Cameron Smith’s defection to the LIV series but the Saudi-backed circuit could ultimately find fallow ground in a country left to wither by the increasingly dominant US and European tours. World number two Smith, who claimed his first major at the British Open in July, confirmed he had […] September 1, 2022
Business of Sport US firm joins Yankees owners to complete AC Milan takeover US investment firm RedBird Capital has joined forces with the owners of the New York Yankees to complete the 1.2 billion euro ($1.2 billion) acquisition of Italian soccer champions AC Milan, it said in a statement on Wednesday. Yankee Global Enterprises (YGE), owner of the New York baseball team, will take a minority equity stake […] September 1, 2022
Business of Sport Qatar sends on Beckham amid questions over World Cup legacy Qatar Tourism has launched a marketing campaign starring David Beckham as it counts down to the start of the FIFA World Cup in November. The former England captain – who is reportedly being paid £150 million ($174 million) over 10 years to promote Qatar – is advertising holidays in the country as tourism chiefs seek […] August 31, 2022
Opinion Business of Sport Bad boys of sport can be a good investment for brands Tennis star Nick Kyrgios attracts sponsors and Instagram followers by being maverick August 29, 2022
Business of Sport Brazil soccer clubs poised for gold rush to rival Europe’s elite A new law allowing soccer clubs in Brazil to seek outside investment is attracting hundreds of millions of dollars to a country renowned as football’s biggest source of talent, a change that could see Brazilian teams rival Europe’s top tier. The surge of fresh, mostly foreign, cash coincides with an agreement last May by Brazil’s […] August 29, 2022
Business of Sport Serena Williams’ massive on-court earnings have no rival Serena Williams enters her final US Open as a long shot to take home the trophy but her title as the biggest earner in the history of women’s tennis will remain for many years to come. Since turning professional in 1995, Williams has amassed a mind-boggling $94.6 million in prize money, more than twice as […] August 26, 2022
Business of Sport PGA Tour overhauls schedule, player purses amid LIV threat The PGA Tour’s top golfers have committed to competing against each other on a more regular basis while the bonus pool for players who positively impact the game was doubled to $100 million, Commissioner Jay Monahan said on Wednesday. The changes represent the PGA Tour’s most serious response to the threat posed by the Saudi […] August 25, 2022
Business of Sport Los Angeles Angels owner to explore selling team Los Angeles Angels owner Arte Moreno on Tuesday said he has begun exploring the possibility of selling the Anaheim-based team he has owned for 20 seasons. “Although this difficult decision was entirely our choice and deserved a great deal of thoughtful consideration, my family and I have ultimately come to the conclusion that now is […] August 24, 2022
Business of Sport PGA Tour may give up non-profit status in move to battle LIV series The PGA Tour might consider giving up its non-profit status to put itself in a better financial position to battle the big-money Saudi-backed LIV Invitational Series, a move supported by Tiger Woods and Rory McIlroy, said a report in the Fire Pit Collective. The subject was one of the main talking points at a meeting […] August 21, 2022
Business of Sport FC Barcelona still unable to register Kounde as player Barcelona have still not been authorised to register French defender Jules Kounde as a player, one of their marquee summer signings, as the club works to comply with LaLiga’s Financial Fair Play (FFP) rules, manager Xavi Hernandez said on Saturday. “At the moment, we don’t know anything. We are on stand-by,” Xavi told a news […] August 21, 2022
Business of Sport Hacker tournament brings together world’s best in Las Vegas A team of hackers from two North American universities won the “Capture the Flag” championship, a contest seen as the “Olympics of hacking,” which draws together some of the world’s best in the field. In the carpeted ballroom of one of the largest casinos in Las Vegas, the few dozen hackers competing in the challenge […] August 18, 2022
Business of Sport Elon Musk says he was joking about buying Manchester United Elon Musk, the world’s richest person, said early on Wednesday that he was joking when he tweeted hours previously that he was going to buy currently struggling English football club Manchester United Plc. “No, this is a long-running joke on Twitter. I’m not buying any sports teams,” Musk posted when asked by a user if […] August 17, 2022
Business of Sport Formula One governing body approves 2026 engine rules Formula One’s governing body approved engine regulations for 2026 on Tuesday, an eagerly-awaited move that could lead to the arrival of premium Volkswagen Group brands Porsche and Audi. The International Automobile Federation (FIA) said its World Motor Sport Council (WMSC) also updated the 2022 and 2023 technical rules to address safety concerns. The new power unit […] August 17, 2022
Business of Sport Qatar wealth fund-backed Group One mulls US listing Group One Holdings, backed by sovereign wealth fund Qatar Investment Authority (QIA), is planning an initial public offering (IPO) in the US, Bloomberg reported. The company behind mixed martial arts brand One Championship is changing its legal domicile to the Cayman Islands from Singapore as a step towards the listing. Earlier, the company had explored […] August 16, 2022
LONG READ Business of Sport Saudi Arabia’s next goal: women’s sport Likely Saudi investment in an overseas women’s football team Kingdom may fund other sports such as athletics Sector’s contribution to Saudi GDP is $7bn Just five years ago, Saudi women were banned from watching football at stadiums. Fast forward to 2022 and Saudi Arabia has officially announced its intention to bid for the 2026 AFC […] August 13, 2022
Business of Sport Saudi Arabia bids to host Asian Winter Games in NEOM The Saudi Olympic and Paralympic Committee (SOPC) has officially submitted a letter of interest to the Olympic Council of Asia (OCA) to host the 10th Asian Winter Games in 2029 in TROJENA, NEOM’s global destination for mountain tourism. The letter included a brief introduction about the Saudi Vision 2030, which will support TROJENA to host […] August 4, 2022
Business of Sport Mickelson and others sue PGA Tour in LIV fight Hall of Fame golfer Phil Mickelson and 10 other players filed a lawsuit against the PGA Tour on Wednesday, alleging that it broke anti-trust law by refusing them to participate on the tour and the new rival LIV Golf circuit, backed by Saudi Arabia. The lawsuit was led by six-time major champion Mickelson and includes […] August 4, 2022
Business of Sport Stenson loses sponsorship after he joins LIV Golf Mutual of Omaha have ended their sponsorship of Henrik Stenson, the American company said on Wednesday, a week after the Swede joined the lucrative LIV Golf Invitational Series. Stenson, who won the 2016 British Open with a record score, was stripped of Team Europe’s Ryder Cup captaincy last week, hours before he announced his decision […] July 28, 2022
Analysis Business of Sport World Cup is an advertiser’s dream worth millions With a projected worldwide audience of five billion people, the 2022 FIFA World Cup is an advertiser’s dream. Although some brands have toyed with the idea of boycotting the event, and may eventually do so due to the controversies that have dogged Qatar’s hosting of the tournament, ignoring one of the world’s biggest sporting spectacles […] July 23, 2022
Business of Sport Bridgestone ends deal with DeChambeau after LIV Golf move Bryson DeChambeau and Bridgestone Golf have agreed to end their brand ambassador partnership following the former major champion’s decision to join the Saudi Arabia-backed LIV Golf Invitational Series, the company said on Tuesday. DeChambeau, who is among the game’s more high-profile players and one of the longest hitters the sport has ever seen, joined LIV […] July 13, 2022
Business of Sport PGA Tour probed for possible law break in fight against LIV Golf The US Justice Department is investigating whether the PGA Tour broke antitrust law in fighting off the rival LIV Golf circuit, backed by Saudi Arabia. The PGA Tour confirmed the probe, which was first reported by the Wall Street Journal. “This was not unexpected. We went through this in 1994 and we are confident in […] July 12, 2022
