Sports

Paddy Power turns M&A into a fantasy sport

23 May 2018

The Dublin-based group is merging its U.S. assets with fantasy-sports business FanDuel. If a recent Supreme Court ruling leads to nationwide legal sports betting, loss-making FanDuel’s users could become valuable punters. The catch is that payback could be a while in coming.

WWE is a leading contender for content champion

22 May 2018

Vince McMahon’s wrestling kingdom may be close to inking a deal with Fox for its popular "SmackDown." The agreement would bring more than $1 bln for the rights to broadcast the program, much more than NBC has been shelling out. WWE deserves a champion’s belt for savvy partnerships.

Get ready to gamble – on U.S. sports betting

15 May 2018

The Supreme Court ruled that the feds can’t stop states legalizing wagers on basketball and other games. It will push a $150 bln black market into the light and gives firms like DraftKings and Paddy Power, sports leagues and media outlets like ESPN a grab at the revenue pot.

Videogame-watching IPO magnifies clash of clans

11 May 2018

Huya is set to list at a $2.6 bln valuation, or nearly eight times revenue. The startup gives investors a shot at a market whose audiences for "League of Legends" and other games exceed the NBA's. Backer Tencent's stake in Chinese e-sports rival Douyu also offers a useful hedge.

Arsenal manager’s weak second half instructs CEOs

20 April 2018

Frenchman Arsène Wenger is hanging up his boots at the North London soccer club after 22 years. A golden age of winning seasons followed his arrival in 1996, but Arsenal underwhelmed for the last decade. As with corporate bosses like WPP's Martin Sorrell, he hung around too long.

Busting EU sport cartel lines already fat pockets

11 April 2018

Antitrust authorities raided groups including Fox in a TV-sports cartel probe. Usually, such moves help consumers. But if the cartel had helped hold down inflated media rights, the main beneficiaries from its end would be already loaded teams and athletes.

Solid takeover hurdle trips up Foxconn of sneakers

11 April 2018

Taiwanese contract footwear maker Pou Chen wanted full control of its Hong Kong affiliate Pou Sheng. The $1.4 bln deal was nixed, however, by just 4 pct of investors. There's a risk that the rigorous system can be gamed, but it commendably tilts in favour of outside shareholders.

Indian cricket plays well for Disney and Murdoch

6 April 2018

Fox’s Star India is paying almost $1 bln to secure its monopoly over Indian cricket. It is unusual to see a company in play splashing the cash so freely. That suggests Disney, which is keen to buy parts of Rupert Murdoch's empire, shares his enthusiasm for this growth market.

Korea can aim for Olympic economic bronze

9 February 2018

Hosting typically leads to financial defeat. The 2018 Winter Games will cost about $13 bln. In 2002, TV revenue equaled 30 pct of Salt Lake City's smaller tab. Pyeongchang won't land that split nor probably match Vancouver's. It should, however, skate past super-pricey Sochi.

BT belatedly remembers it’s a telecom business

2 February 2018

Under new chair Jan du Plessis, the former UK telephone monopoly seems more focused on network investment than costly TV forays. It is building more fibre internet lines and may declare a truce with rival Sky on soccer rights. That should please both regulators and shareholders.

Wanda’s sports spinoff would help trim flab

5 January 2018

The Chinese conglomerate could float sports assets acquired in haste, including a sports marketer and a triathlon organiser, Reuters says. Fresh funds could help cover offshore debts. Streamlining might also persuade regulators to let the main property unit list onshore.

Viewsroom: Debt markets set for wild ride

4 January 2018

More government borrowing and less central bank buying will force bondholders to fend for themselves, Breakingviews predicts. Plus, passive funds will force out a CEO, electric vehicles give gasoline cars a run for their money and soccer clubs’ spending splurge will intensify.

Our 2018 predictions on Reuters TV

31 December 2017

From the CEOs who should run for U.S. president, to the banks that ought to be sizing up mergers, our writers give their take on the coming year in a series of Reuters video reports.

European soccer’s spending splurge will intensify

29 December 2017

Transfer fees like the $263 mln Paris St Germain paid Barcelona for Neymar have stoked talk of a bubble. But increased spending is mostly justified by the soaring value of broadcasting rights. If U.S. tech giants join the action in 2018, players will reap the benefits.

Man City can narrow the deficit in Chinese soccer

29 December 2017

When it comes to mainland investment in European soccer and vice versa, the score is $3bln-nil. China’s splurge is over, but connecting old teams and new fans still makes sense. The Abu Dhabi-owned group behind Manchester City could be the first heavyweight to go the other way.

Gym chain’s China private equity workout has legs

19 December 2017

An ex-Goldman banker’s buyout firm is backing posh Hong Kong gym chain Pure. Fitness investments can turn ugly. One big opportunity, however, is expansion in China where the $4.4 bln health club market is expected to grow 20 pct annually. That sweat could help to pump up returns.

New Delhi bowls Rupert Murdoch a bouncer

4 December 2017

Star India may be forced to share its $2.5 bln cricket rights with a state broadcaster if the league is deemed of “national importance.” That might score the government some points. For Murdoch, who is fielding interest for parts of his Fox empire, it would be a sticky wicket.

Holding: Bet on Supreme Court to lift gambling ban

1 December 2017

New Jersey’s suit to legalize sports wagers makes financial policy sense, but the constitutional argument is stronger. Limits on the feds’ power mean states do their own thing on everything from pot to guns. A court already inclined that way is likely to extend it to betting.

College-sports fraud case obscures the real crime

26 September 2017

Federal prosecutors have charged 10 people, including four coaches, with using bribes to influence university basketball players. The government says the case exposes the dark underbelly of the sport. But fraud flourishes largely because the NCAA cartel refuses to pay athletes.

NFL fumble leaves broadcasters facing the penalty

25 September 2017

President Trump is attacking football players who don’t stand for the national anthem. But falling TV ratings are a deeper-seated problem for the sport. The likes of Disney and Fox that shelled out billions for the rights face pain. But CBS could be in for a major sack.