Welcome back to the Sports Business Weekly Wrap-up! The weeks are flying by, which is both exciting and terrifying. This week saw us head into the international break with England on the verge of qualifying for next year’s World Cup in Qatar.
Here’s the latest sports business news stories you may have missed this week…
CBS Sports x WSL
We covered a fair bit of women’s sport news last week and we’re not slowing down this week either as the week started off with CBS Sports acquiring the US media rights to the FA Women’s Super League.
The multiyear deal will covers the 2022-33 and 2023-24 seasons and will see CBS Sports air 57 FAWSL matches in both seasons. The majority of these will be hosted on their streaming service. Paramount+, with selected games shown on CBS Sports Network.
Dan Weinberg, CBS Sports executive vice president of programming said “The Barclays FA Women’s Super League features some of the most recognizable soccer brands in the world, and is an excellent addition to CBS Sports’ premium soccer portfolio,”
This move makes a lot of sense. Not only are there a number of the most recognisable football clubs in the world competing in the WSL, but in recent years we’ve also seen an influx of American players with some of the best now plying their trade in England. The women’s game in the US is massive, especially with the success of their national team so why wouldn’t CBS broadcast the WSL? It’s a no-brainer really.
The European Tour to become the DP World Tour
There’s so much going on in the world of sports business that it can be difficult to pick out the best stories but the one that stood out to me on Tuesday came from the world of golf and the European Tour.
It’s been known as the European Tour for the longest time but from the start of the 2022 season, it will be known as the DP World Tour. The new name will also see the prize money rise with it totalling over $200m for the first time. Every event solely sanctioned by the DP World Tour will have a minimum prize fund of $2m.
But who are DP World? Well they’re one of the world’s biggest logistics companies and are based in Dubai. They’ve been involved with the European Tour since 2009 as they sponsor the Dubai World Championship.
European Tour chief executive Keith Pelley said “The launch of the DP World Tour in 2022, coinciding with both of our 50th anniversaries, will herald a new era in global golf, and crucially it will benefit everybody involved – all our players, caddies, fans and partners – as well as making an important contribution to wider society.”
A name change makes sense and could pay off big time. Outside of the PGA Tour in America, the European Tour is the next biggest in size but they host events outside of Europe so the name doesn’t always fit. Renaming to the DP World Tour could open up a whole host of opportunities.
West Ham United have a new investor
Takeovers and ownership seem to be the hot topic at the moment in the world of football and this week has been no different as West Ham United have got themselves a new investor.
Czech billionaire, Daniel Kretinsky has bought a 27% stake in the club for a reported £150 million. This investment means the club is valued at just under £555 million. The Premier League has seen a lot of investment recently as Newcastle United have new owners in the form of Saudi Arabia’s sovereign wealth fund and Wolverhampton Wanderers saw a Chicago-based finance and technology group, Peak6 Group LLC buy a minority stake in the club.
West Ham Vice-Chairman Karren Brady said “We are always looking to continue to progress and Daniel’s involvement brings investment which strengthens the club’s position,” Kretinsky is best known for controlling Energeticky a Prumyslovy Holding AS, which includes over 70 European energy companies. He is also a minority shareholder in Sainsbury’s, the supermarket.
The Hammers are enjoying a good season under David Moyes so far so it makes a lot of sense for Kretinsky to want to invest. The club is in good form, is based in London and is also based at the London Stadium. There is an awful lot of potential for growth at the club.
Premier League temporarily ban ‘related party’ sponsors
Speaking of Newcastle, they were in the news on Thursday as The Times reported that Premier League clubs may soon have to be required to seek Premier League approval on sponsorship deals.
After Saudi Arabia’s Pubic Investment Fund completed the £300m takeover of Newcastle in October, clubs in the Premier League voted to impose a temporary ban ‘related party’ sponsorship deals. As an example, this ban means Newcastle United cannot sign partnerships with other Saudi-backed companies on inflated financial terms. Basically, it is a way to stop clubs with extremely wealthy owners disguising putting more money in to the club in the shape of “sponsors”.
All clubs are involved in a working party which will seek to implement a new sponsorship sign-off system. This system will mean teams will have to seek the approval of the Premier League before agreeing any new partnerships.
Warrington Wolves launch NFTs
It seems a rarity now that not a week goes by where cryptocurrency or NFTs don’t get mentioned in this article and unfortunately, this week is no different.
Thursday also saw Warrington Wolves become the first team in professional rugby league to a range of NFTs (non-fungible tokens). These unique digital artworks are secured on the blockchain.
The artwork features star half-back George Williams in the style of old trading cards.
First to market is never a bad idea…
Rugby League’s first ever NFTs: Dropped ✅
— Warrington Wolves (@WarringtonRLFC) November 11, 2021
As is routine now, I’ll finish this week’s article off with some content I’ve watched this week which I think is worth sharing..
This week, all 4 come from YouTube so available to watch for free.
Gary Neville’s The Overlap | Alan Shearer
I’d be amazed if you hadn’t heard of this series but I thought I would share anyway. Gary Neville’s The Overlap is a series that sees the Manchester United legend interview some of the biggest names in sport. The latest episode with Newcastle United legend, Alan Shearer, is well worth a watch.
Amanda Staveley sits down with NUFC TV
Newcastle United have featured quite heavily in the news recently so when this interview was published I made sure to make time for it. One thing I like is the transparency that NUFC’s new owners seem to be giving to the fans. Long may it continue.
ALL ACCESS: Canelo vs. Plant | Epilogue | SHOWTIME
I posted one of the previous episodes of this series a few weeks ago but I need to share this one as well. Even if boxing isn’t your thing, watch this just for the aesthetics and level of production quality.
Gary Vaynerchuk’s chat with Mark Zuckerberg about Web3 and the Metaverse
Now this clearly isn’t directly related to sports but I thought it was a really interesting conversation about Web3, the Metaverse and what could potentially be coming next. The idea of the Metaverse and all things related to it are still in their very early days but it is something definitely worth learning about.
If there are any sports business news stories we may have missed this week then make sure you hit us up on Twitter @BehindSport!
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