1) Has Scott O’Neil really pulled off the impossible job?
The LIV Golf CEO scrambled his top team in the wake of the Saudi decision earlier this year to remove funding from the challenger golf tour. They’ve been combing boardrooms the world over, looking for investment to replace the billions taken off the table. There has always been conviction from within O’Neil’s ranks that a way forward would be found. But it’s fair to say that, externally, LIV’s plight has seemed fairly hopeless. But now – remarkably – O’Neil seems to have found a structure – with players at the ownership table – and a new cornerstone investor to take a new look LIV through 2027 and beyond. I wonder if he fancies having a go at being Fifa President?
2) When are we going to see the NBA Europe money?
In the last few days it’s emerged that Nikesh Arora, a US tech billionaire and an investor in the London Spirit Hundred franchise, is one of the bidders for the proposed London NBA Europe franchise. Arora has put together a consortium offering more than $1 billion for the new London team. Elsewhere, news has emerged that a site has been found at Battersea Power Station for the development of a new arena to house the team. We’re in (another!) fascinating stage of the incubation period of this new league. Outwardly at least, the NBA is weighing up what it says are at least 20 tangible bids for franchises across its 12 target cities. All of them above the $500 million threshold it has set. The next board of governors meeting is on 14th September and it’s at that point that the league will probably be hoping to move from bid phase to term sheets. The reality, of course, isn’t quite so simple, with negotiation and horse trading at play across Europe and the US – trying to move good bidders from this city to that. Leaking, counter-leaking and a strategic, phased approach to releasing information will be a critical part of the most critical part of establishing this new venture: putting a continent-wide anchor down on what it’s all worth (which, of course, is whatever someone will pay for it). And – if you’ve got a spare four hours and 24 minutes – it’s well worth reliving the intricate genius with which Lalit Modi went about establishing franchise value during the set-up of the IPL. And, as ever, George Pyne has real clarity in illustrating the four essential requirements for any new property to succeed: A deep talent pool, an audience beyond the home market, an effective way to reach that audience, and patient capital with a long-term view.
3) What do we need to see more of?
Sponsors being clear, comprehensive and public about success metrics for specific activation campaigns within sports sponsorships. Kudos to Salesforce for the case study/brag around its recent F1 activation.
4) What else do we need to see more of?
Op eds in weighty media entities by leading sports administrators. Kudos to Belgian football league CEO Lorin Parys for having an opinion and having it publicly. His ideas for reform across football governance have a lot of merit.
