Corona Capital: Mets star bidders, Robot slayers 10 Jul 2020 Concise views on the pandemic’s corporate and financial fallout: Power couple J. Lo and A-Rod are giving hedge fund manager Steve Cohen competition for the New York Mets baseball team; Covid-19 is accelerating automation of the meat industry.
Corona Capital: Amazon, Car perks, College sports 29 Jun 2020 Concise views on the pandemic’s corporate and financial fallout: Companies are trying to bolster pocketbooks. Amazon makes extra payments to employees while car companies are offering major discounts. Plus: Under Armour ditches its UCLA deal.
Liverpool has one more financial peak to conquer 26 Jun 2020 The Reds ended a 30-year wait to win English soccer’s Premier League. Healthy financial results helped on the pitch. To reach European rival Barcelona’s exalted level, though, Liverpool needs more sponsorship revenue. That should hold up better than TV rights and player trading.
Baseball risks strike-out with its labor squabble 15 Jun 2020 Major League Baseball and the players’ union have been arguing about pay and the length of the 2020 season. Meanwhile, other sports may soon be back in action. Baseball had problems before Covid-19. By focusing on short-term gains, the union could undermine the sport’s future.
Viewsroom: Global takeaway and Cathay 11 Jun 2020 Nothing sums up pandemic dealmaking quite like this: As a merger of America’s top shopping mall operators crashed and burned, two of the world’s biggest food-delivery companies joined forces. Also, Cathay gets a bailout and so might the Mets. Breakingviews columnists discuss.
Corona Capital: Instacart stocks up 11 Jun 2020 Concise views on the pandemic’s corporate and financial fallout: Grocery-delivery firm and lockdown beneficiary Instacart tops up on capital while the getting is good.
Mets bid faces Philly-style conflict of interest 9 Jun 2020 Apollo’s Josh Harris and Blackstone’s David Blitzer are exploring buying the New York baseball team. But they already own a sports team in Philadelphia – home to the sluggers’ archrivals. Private equity understands conflicts. But handling sports fans may be their toughest test.
Vacant arenas fortify TV’s financial grip on sport 28 May 2020 When games restart, distancing rules will mean emptier soccer and baseball stadiums. Sports which rely less on live crowds, like golf or Formula 1, may benefit. More home viewers should further boost the value of media rights, already worth $51 bln, and offset lost ticket sales.
Corona Capital: Hockey, HBO, Minority businesses 27 May 2020 Concise views on the pandemic’s corporate and financial fallout: A plan to get pucks back on the ice offers a sporting template. Meanwhile, HBO’s streaming service may have missed its moment, and a survey shows minority-owned businesses have mixed feelings about life after Covid.
Review: Michael Jordan marks capitalism’s end, too 22 May 2020 ESPN’s documentary “The Last Dance” explores the basketball legend who defined the 1990s and the modern sports industry. He personifies U.S. business – with his intense competitiveness and bullying. He’s a reminder of when U.S. dominance looked like a slam dunk.
Soccer stars’ wallets will carry the Covid burden 21 May 2020 England’s top league wants to follow Germany by restarting games. That would help teams minimise lost sales, which may be up to $1.3 bln. Still, the world’s biggest sport will be far less lucrative after the virus. Player wage cuts may be the only way to ensure clubs’ viability.
Cable networks risk post-virus vicious cycle 7 May 2020 Live sports are a big reason Americans tolerate pricey pay-TV packages. The lack of games is an excuse to cut the cord. Yet the NFL and others will want more for broadcast rights to make up for empty seats. That could push cable bills higher, and more subscribers toward the exit.
NFL draft is an anti-capitalist oddity to treasure 23 Apr 2020 The three-day sign-up of rookie players gives first dibs to the weakest teams to ensure all get a shot at success. It’s the opposite of laissez-faire, yet also entirely American – and makes the unhelpful adherence to market forces in areas like healthcare all the more illogical.
Corona Capital: Extended Stay, Victoria’s Secret 22 Apr 2020 Concise views on the pandemic’s corporate and financial fallout: Blackstone checks back into one of its favorite old haunts, hotel chain Extended Stay; while another private-equity shop, Sycamore, tries to dump its proposed investment in lingerie seller Victoria’s Secret.
Corona Capital: American football fail 14 Apr 2020 Concise views on the pandemic’s corporate and financial fallout: The NFL has better finances and sturdier supporters than the XFL, which just filed for bankruptcy right after its reboot. But the Super Bowl operator’s future also rests on coronavirus-induced physical distancing.
Corona Capital: Banking bonuses, Local TV M&A 30 Mar 2020 Concise views on the pandemic’s corporate and financial fallout: BBVA’s ditched bonuses pressure peers; local TV deal has more than one struggle.
Japan can handle Olympic defeat 3 Mar 2020 The flame is set to be lit as planned in Tokyo in late July, but the coronavirus casts fresh doubt each day. An economic uplift worth some $280 bln was anticipated. The bulk of it is already booked, though. And the country has plenty of tourism momentum on which to build.
Hong Kong bankers drop-kicked while they’re down 14 Feb 2020 The city’s World Rugby Sevens leg has been postponed six months because of the coronavirus. Sponsor HSBC and its rivals typically schmooze clients and cut loose at the big event. Its absence in the April diary will be a grim reminder of the tough year ahead in Asian finance.
NFL ratings spike cuts both ways for TV networks 31 Jan 2020 U.S. football viewer ratings leapt 5% this season, probably because politics took a backseat to new stars like Lamar Jackson. The rise in popularity is good for broadcasters worried about cord cutters. But it also gives the league leverage when pricey rights renewals come due.
Saudi Newcastle punt is not as silly as it sounds 27 Jan 2020 Riyadh’s wealth fund is mulling a 340 mln pound takeover of the English soccer club. It’s another eyebrow-raising move in Saudi’s efforts to diversify its economy. But a repeat of Abu Dhabi’s successful reboot of Manchester City could help repair the kingdom’s tarnished brand.