Sports

Soccer Super League plan starts one goal down

19 April 2021

There’s financial logic to the JPMorgan-backed breakaway of 12 clubs including $3 bln Manchester United. But unlike past soccer upheavals, the pan-European competition would supplement rather than replace existing revenue. That gives its many opponents strong bargaining power.

Capital Calls: Elon Musk, LeBron James

1 April 2021

Concise views on global finance in the Covid-19 era: Endeavor, Ari Emanuel’s entertainment group, is hoping the Tesla boss’s stardust will help a second attempt at an IPO; the basketball star’s stake in the Red Sox is a foil to Steve Cohen’s Mets deal.

IPO laggards pay price for predecessors’ chutzpah

30 March 2021

Miner GV Gold, defence firm Leonardo DRS and soccer team Club Brugge shelved their listings. Investors have been stung by the poor performance of a wave of richly valued tech floats earlier this year. With the pipeline still full, hopeful issuers will now have to offer bargains.

Capital Calls: Elon Musk, AstraZeneca

15 March 2021

Concise views on global finance in the Covid-19 era: The electric-vehicle maker’s jocular new title of “Technoking of Tesla” tests the theory that deeds matter more than words; fears over the drugmaker’s vaccine risk further delaying the re-opening of Europe’s economy.

Capital Calls: McKinsey, Celebrity SPACs

10 March 2021

Concise views on global finance in the Covid-19 era: McKinsey’s new boss isn’t new enough; the SEC tells investors to be careful of celebrities bearing SPACs.

Japan Inc faces Olympic sexism trial

24 February 2021

A woman replaced the games’ boss after chauvinist comments. His attitude is common; women make up 13% of directors at large listed companies. Tokyo’s bourse will push for better representation on its new “Prime Market”, but a thin pipeline of female managers risks tokenism.

Capital Calls: Super Bowl, Poison pills, Experian

8 February 2021

Concise views on global finance in the Covid-19 era: America’s game doesn’t benefit from scarcity value; Cubic’s poison pill serves a purpose; And Brazil’s cyberattack has a price for Experian.

Viewsroom: Short squeeze craziness, Oz in the lead

28 January 2021

Something completely wacky is happening with GameStop and a few other stocks favored by short sellers, and it’s likely to end very poorly for some armchair traders, Breakingviews columnists discuss. Plus, a visit to our Melbourne bureau for tennis and Google lessons. 

Corona Capital: Bank of America, Halliburton, NBA

19 January 2021

Concise views on the pandemic’s corporate and financial fallout: Bank of America’s animalistic analogies; Halliburton sees a recovery that can’t come soon enough; The New York Knicks’ valuation has its top spot to lose.

Corona Capital: Inflation, Poshmark

14 January 2021

Concise views on the pandemic’s corporate and financial fallout: Breakingviews panel predicts the end of the free-money era; and Poshmark’s IPO looks overdressed.

Corona Capital: KKR/music, IMF

11 January 2021

Concise views on the pandemic’s corporate and financial fallout: Private equity giant KKR buys a stake in hip OneRepublic music royalties; and the International Monetary Fund half-heartedly bumps up its target lending cushion.

Corona Capital: U.S. college football

6 January 2021

Concise views on the pandemic’s corporate and financial fallout: U.S. college football programs are in a talent arms race for coaches, a bit like companies' quest for top-ranked CEOs, despite the pandemic's impact on revenue.

MGM’s $11 bln UK punt is close to maximum wager

4 January 2021

Entain rebuffed a merger proposal from the U.S. resorts-to-roulette group. The British bookie has good reasons to ask for more stock and a slug of cash from its sports-betting partner. But with no rival bidders, and a shrinking domestic business, its negotiating power is limited.

European soccer will try on American-style pay cap

24 December 2020

Empty stadia wiped out nearly $4 bln in sales, pushing even rich clubs like Manchester United and Barcelona into the red. A partial return for fans barely eases the pain. To save itself, the beautiful game will have to import the U.S. National Football League’s limit on salaries.

Corona Capital: Tesla’s Apple snub

23 December 2020

Concise views on the pandemic’s corporate and financial fallout: Tesla boss Elon Musk asked to meet with Apple back in the day, and got rebuffed. Musk’s company has been the better investment recently, especially during the Covid-19 period. That doesn’t mean Tim Cook missed out.

Corona Capital: New York City, Fed/climate change

15 December 2020

Concise views on the pandemic’s corporate and financial fallout: New York City’s exodus puts local government in a tight spot; the Fed’s belated move shows a change in Washington.

Corona Capital: Movie releases, Ads, Running

4 December 2020

Concise views on the pandemic’s corporate and financial fallout: HBO Max uses its muscle on movie releases; advertising wins some and loses some; Brooks’ beast year.

Corona Capital: Record Dow, Basketball, GoCompare

25 November 2020

Concise views on the pandemic’s corporate and financial fallout: Vaccine optimism shunts the blue-chip Dow Jones index through 30,000; U.S. college basketball gets back on the court; and UK publisher Future snaps up the bargain-hunting website.

Private equity can sprint ahead in Adidas castoffs

11 November 2020

Buyout groups are considering buying Reebok from the German sportswear group, the FT says. Chunky returns are possible despite the brand’s dismal growth. But after a failed turnaround, the maker of Kanye West Yeezy trainers will need to accept much less than the $3.8 bln it paid.

Corona Capital: Utah Jazz, Comcast, Kraft

29 October 2020

Concise views on the pandemic’s corporate and financial fallout: Utah Jazz’s owners sign off with a respectable return; Comcast shoots the light out on broadband; and Kraft rides the stay-at-home wave.