Sports

Newcastle bid suits Saudi more than UK soccer

7 October 2021

A consortium led by the kingdom’s Public Investment Fund may buy the northeastern club for 305 mln pounds. Saudi Arabia gets a storied team for a low price, and cheap PR. Yet having another deep-pocketed sovereign backer will further distort competition in British soccer.

Capital Calls: Facebook, TeamViewer, Audio M&A

6 October 2021

Concise views on global finance: Whistleblower Frances Haugen’s polished rollout is a warning for Big Tech; the video software specialist’s 25% share price fall shows the perils of growth stocks; hearing aid group GN snaps up headset maker SteelSeries for $1.3 bln.

Viewsroom: Bitcoin, El Salvador and Roger Federer

9 September 2021

As the Central American country adopts the cryptocurrency as a coin of the realm, Richard Beales and Gina Chon discuss the merits of stablecoins and the scramble by regulators to catch up with the market. Karen Kwok takes a slice at Roger Federer-backed running shoe outfit On.

Capital Calls: AMC, German pet retailer

8 September 2021

Concise views on global finance: The movie theater chain enjoyed bumper Labor Day attendance; a trio of private equity suitors are circling Zooplus.

Viewsroom: Scoring Ronaldo’s return to Man Utd

2 September 2021

Shareholders cheered the prolific Portuguese striker’s surprise decision to rejoin his former club in England. His three-year stint at Juventus, though, was hardly a clear financial victory. Plus: An $80 bln IPO valuation for electric-truck maker Rivian would be too racy.

Man Utd investors lose heads over Ronaldo signing

30 August 2021

The soccer club’s shareholders hailed the Portuguese striker’s return by adding $165 mln to its market value. The 36-year-old brings goals and commercial clout, but he also left former club Juventus with a higher wage bill. Investors are unlikely to share in his success.

Capital Calls: UK engineer bidding war, Inflation

11 August 2021

Concise views on global finance: U.S. aerospace group TransDigm tries to elbow out rival Parker-Hannifin with a $9.7 bln bid for Meggitt; predicting U.S. consumer prices is proving tricky.

Reheated CVC soccer plan faces better Spanish odds

5 August 2021

The sporty buyout fund wants to invest 2.7 bln euros in La Liga, mirroring a proposal that flopped in Italy’s Serie A. At just over 10 times commercial revenue, the higher-flying Spanish league’s valuation is lower. Yet the latest deal’s chances of finding the net look safer.

Viewsroom: Olympic blunders and Robinhood’s IPO

22 July 2021

The Tokyo games are struggling with rising Covid-19 infections, corporations pulling out, an unenthused Japanese public and now a bad Holocaust joke. Pete Sweeney and Rob Cox discuss. Meantime, John Foley says Robinhood resembles E*Trade 20 years ago – in good and bad ways.

Capital Calls: Twitter, Domino’s Pizza

22 July 2021

Concise views on global finance: Jack Dorsey’s social network reported a 74% bump in revenue despite a slowdown in adding new users; meanwhile, Domino’s Pizza shows one thing that hasn’t abated in 2021 is customers’ love of takeout pies.

Capital Calls: Online fashion retail

15 July 2021

Concise views on global finance: The return of old customer habits and muted demand as the pandemic lingers could reverse the recent stellar run of the likes of ASOS.

Numerate faithful put stock in an England victory

9 July 2021

Goldman Sachs says the Three Lions will beat Italy in Sunday’s Euro 2020 final. Before that, it reckoned Spain would beat Italy, and Belgium would win the whole thing. One side benefit of an English win is that forecasters might keep being allowed to get it entertainingly wrong.

Capital Calls: Teneo manages its own crisis

29 June 2021

Concise views on global finance: Declan Kelly, the PR firm’s chair and CEO, has quit after allegations of drunken behavior. Bad behavior is an underappreciated risk in people businesses.

Indian cricket bowls toward financial big leagues

25 June 2021

RedBird Capital, backer of baseball’s Red Sox, is buying into the Rajasthan Royals, valuing the team at up to $300 mln. That puts it within reach of the top 30 European soccer clubs. The deal spotlights the Indian Premier League’s lucrative American-style commercial potential.

Capital Calls: Infrastructure, Doximity, Deliveroo

24 June 2021

Concise views on global finance: President Biden’s $1 trln bipartisan plan for U.S. infrastructure is a feat of political engineering. Meanwhile, medical-themed social network Doximity finds riches in niches, and UK delivery outfit Deliveroo serves up a favorable court ruling.

UFC has to earn its valuation belt

4 June 2021

The mixed martial arts powerhouse was valued at nearly $10 billion in deals struck alongside owner Endeavor’s IPO. That’s in line with big-talking UFC boss Dana White’s assessment. It’s a lot pricier than rival sports franchises, though. It could take some big hits to justify it.

Capital Calls: AMC craziness, Pro lacrosse

2 June 2021

Concise views on global finance: The movie-theater chain raised $230 million from a hedge fund, which promptly sold the shares at a profit; New England Patriots owner Robert Kraft and Alibaba's Joe Tsai are betting on the latest U.S. effort to professionalize the preppy sport.

End the Olympics once and for all

2 June 2021

The Tokyo games are a Covid calamity. Beijing as 2022 host is turning into a bitter referendum over human rights. Pierre de Coubertin’s noble mission has been corrupted, distorting sports and urban economies. Sponsors and athletes have other options. Pass the torch elsewhere.

Chinese buyer can put spring back in Reebok’s step

26 May 2021

Owner Adidas thinks Anta Sport and Li Ning, as well as private equity firms, may bid for the ailing brand, worth maybe $1.8 bln. Buyout barons have scored big apparel wins. But a red-hot domestic market means Chinese groups are best-placed to succeed where the German firm failed.

Capital Calls: Apollo, Microsoft

20 May 2021

Concise views on global finance: The second of the asset manager’s three founders moves on; the software firm is pulling the plug on Internet Explorer.