Pandemic stalls Ferrari’s Formula 1 turboboost 4 May 2020 Bans on mass events are disrupting this year’s racing season. That’s bad for the luxury carmaker, which in 2019 made 14% of its revenue from Grand Prix events and branding. While the core auto business should hold up, a lack of action on the tracks leaves growth in the slow lane.
Corona Capital: Baseball and robo-taxis 4 May 2020 Concise views on the pandemic’s corporate and financial fallout. Taiwan hits on a way to please baseball fans, with the help of some people-shaped placards. Meanwhile, chipmaker Intel finds a deal amid a crisis.
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: Merger bans, Moelis, Domino’s Pizza 23 Apr 2020 Concise views on the pandemic’s corporate and financial fallout: U.S. politicians plan a curb on opportunistic M&A, advisory boutique Moelis cuts its dividend, and Domino's delivers.
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.
Corona Capital: India on lockdown 24 Mar 2020 Concise views on the pandemic’s corporate and financial fallout: India's prime minister, Narendra Modi, tells 1.3 billion people to stay at home as the country grapples with the early stages of an outbreak.
World will be ready for some 2021 Olympic spirit 24 Mar 2020 It’s likely the Summer Games won’t go on as planned in Tokyo. Cancelling would be a defeat, but rescheduling for next year a symbol of resilience. By then, an economic recovery should hopefully be under way and global audiences will be drawn more than ever to the Olympic flame.
Ironman sale threatens Chinese owner’s endurance 10 Mar 2020 Wanda Sports had lost 70% of its value since going public last July, hurt by disappointing results and debt concerns. It may now offload the division that houses the crown-jewel triathlon. Parting with such a big part of the IPO pitch hardly inspires confidence about the rest.
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.
Penn National can cover its $1.3 bln spread 19 Feb 2020 That’s how much the casino company’s market value jumped after it said it was buying a $163 mln stake in online sports and media firm Barstool Sports. Young gamblers are a hot commodity, but they are difficult for traditional casino operators to reach. Fliers are worth a try.
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.
Anta Sports puts ultimate buy rating on itself 17 Jan 2020 After outrunning short-sellers, the Chinese apparel giant is issuing 1 bln euros of convertible debt that pays nothing and can’t be swapped for equity until shares rise 40%. Strong take-up will signal confidence Anta can repeat its success reviving Fila with Finland’s Amer.
NBA legend’s globalization lesson still unfinished 2 Jan 2020 David Stern, who died on Jan. 1, revamped a flailing U.S. basketball league by turning athletes into billion-dollar brands. The star system he created as commissioner is a slam dunk, but the spirit of cross-border openness that helped the NBA go global has lost some bounce.
Soccer giant will field Chinese star to kick sales 30 Dec 2019 Super-clubs like Manchester United and Real Madrid need new revenue streams as growth from the traditional pay-TV cash cow slows. In 2020, a top team will look to boost merchandise and sponsorships in a huge market by fielding a sub-par Middle Kingdom athlete.
Tokyo brings home the Olympic gold in 2020 24 Dec 2019 Cities are often saddled with debt from hosting the games, and mismanagement has stretched from Montreal to Rio. Japan is setting new positive standards in sponsorship and sustainability, making medals from used phones. Add on short-term stimulus, and it can top the host podium.
Under Armour is unwitting ad for good governance 4 Nov 2019 Flagging growth and federal accounting probes are bad, but in a normal company they wouldn’t knock 20% off the shares. The $7 bln apparel maker, though, is not normal. An unfireable boss and jumbled accountability make it hard to convince investors anything at all is going right.