Vail’s $1 bln Whistler deal befits a forex ski bum 8 Aug 2016 The mountain-resorts operator is paying a 43 pct premium for its Canadian rival. Adjusted for the Canadian dollar's slide since Whistler went public it doesn't look so bad. Plus, skiing is a rare industry where revenue gains make sense and guard against vagaries like weather.
Golf retreat helps incumbents win a declining game 4 Aug 2016 Nike followed Adidas in getting out of making drivers, putters and the like. That gives rivals Callaway and Titleist, whose parent is going public, a short-term opportunity to boost market share. But a decade-long slump in the sport’s participation still obscures the fairway.
Economic models compete for Olympic gold 4 Aug 2016 The Goldman Sachs forecast is in: the United States will win the most medals in Rio, with China next and Brazil outside the top 10. Breakingviews put Russia second and predicts a much better result for the host nation. It's all games, but macro factors do drive sporting prowess.
UFC’s $4 bln sale falls short of a sports knockout 11 Jul 2016 The mixed martial arts group is being bought by the talent agency behind Matt Damon and Gisele. Though finances are hard to come by, WME-IMG appears to be paying a higher valuation than WWE or Manchester United fetch. The NFL and owners of the New York Knicks are still champs.
Once-touted Rio Olympics may leave sour hangover 30 Jun 2016 The Brazilian city won the 2016 Games when ex-President Lula was in his pomp, trying to brand his country as a rising world power. That's now history. A scramble will get venues ready and visitors will enjoy the hosts' fabled warmth. But that won't hide the grim national decline.
Road-trip IPO takes driver’s control to an extreme 15 Jun 2016 Camping World CEO Marcus Lemonis is using multiple stock classes to keep his hands on the RV firm’s wheel after it goes public. It’s a questionable maneuver usually deployed by Silicon Valley founders. Lemonis doesn’t have that excuse for leaving common investors at the roadside.
Fantasy-sports merger would face harsh reality 14 Jun 2016 There may be logic to uniting FanDuel and DraftKings for backers that include Fox, Google, Comcast and KKR. The legal-defense synergies alone sound promising, although a deal could ignite new antitrust concerns. State lawmakers also can curb one big site as easily as two.
Flabby Lululemon needs founder’s exercise regimen 8 Jun 2016 Chip Wilson wants to make the $9 bln athletic-clothes maker’s board more accountable for profit slipping as revenue expands. That has left Lululemon lagging rival Under Armour. Sweating out costs would boost performance. Wilson’s robust stake makes him a formidable taskmaster.
Inter Milan typifies China’s muddy sporting goals 6 Jun 2016 Chinese money is pouring into foreign teams, rights and agents. Now Suning is paying $307 mln for 70 pct of Inter Milan. A mainland retail giant is not an obvious owner for a top Italian soccer club. But these deals are all about anticipating a politically backed sports boom.
China’s sports deals hit the hogwash jackpot 30 May 2016 Mainland money is pouring into Western teams, rights, agents, and competitions. Bold M&A often comes with empty talk and hyperbole. The world of sport is not much better. Throw in the grand designs of China’s political leaders and you have a near-unbeatable trifecta of nonsense.
Eurovision puts Ukraine in helpful spotlight 16 May 2016 Kiev’s pride in winning Saturday’s annual croon-fest has a downside: it has to pay to host next year’s. Russia has pointed out Ukraine has a ropey economy and a war in the east. The experience of former hosts, though, suggests there could be a return on the investment.
Ultimate Fighting punches up value of live sports 11 May 2016 The U.S. promotion firm is reportedly seeking up to $4 bln for its mixed martial arts contests, with China’s Dalian Wanda viewed as a likely buyer. That seems high for a relative upstart in the world of pro athletics. But huge audiences for real-time events may justify the price.
Leicester City upends "size is everything" mantra 3 May 2016 The lowly UK soccer club has, remarkably, won the Premier League. Victory in Britain’s top division had been the preserve of a five-club oligopoly since 1992, and Leicester was a 5000-1 outsider. Businesses facing seemingly unbreakable glass ceilings have a new role model.
Twitter may score big with football digital rights 5 Apr 2016 Jack Dorsey’s social-media firm won permission to stream 10 NFL games for a reported $10 mln. That’s the price of a one-minute Super Bowl ad, making the deal a cheap way to up the $12 bln service’s user base. Twitter may finally gain some ground against rivals like Facebook.
Tennis jerks miss point of equal prizes for women 22 Mar 2016 A now ex-tournament boss said women players are riding on the coattails of the men. He failed to recognize the sport’s strength – a broad, gender-balanced constituency of fans. That’s where the money, be it Federer’s $67 mln a year or Sharapova’s $30 mln, really comes from.
China’s soccer field of dreams lacks paying fans 15 Mar 2016 Tycoons and corporate giants are spending hundreds of millions of dollars on local clubs and foreign players. Media groups are bidding up the value of broadcasting rights. To be viable, though, China’s leagues need to attract lots of paying viewers. That’s hardly an open goal.
Why the Yankees are swinging their bats at Comcast 9 Mar 2016 The $140 bln cable operator is sticking by a decision to drop the channel that airs the team’s baseball games, risking the ire of Bronx Bombers fans as the season starts. The fracas underscores bigger problems in the pay-TV universe as distributors become choosier about networks.
Sports Direct investors get what they deserve 3 Mar 2016 The sports retailer will be relegated from the FTSE 100 after a profit warning and a minimum-wage controversy hammered the shares. Founder Mike Ashley’s control gives investors almost no influence. But they have always known that risk – and until now, have done well despite it.
Sports Authority loses game with unforced errors 2 Mar 2016 The U.S. retailer declared bankruptcy a decade after a $1.3 bln buyout. Debt and internet competition contributed to its demise, but rivals like Dick’s survived similar challenges and turned in a stellar performance. Bad management was largely to blame for the costly strikeout.
Adidas pedals harder for only limited gains 11 Feb 2016 The sportswear maker beat its 2015 growth target. Yet a 10 pct rise in currency-neutral sales required a hike in marketing twice as high. As other costs are poised to creep up, incoming boss Kasper Rorsted faces a marathon in catching up with Nike’s superior profitability.