THE BREAKDOWN: Man Utd’s Accounts Released, Why are Spurs Still Bad, Hearn’s Rugby Takeover, & WTA in Big Trouble (E38)

If you can believe it, today we welcome our first golfer to the show. A notoriously hard group to get hold of, I have wanted to get stuck into life as a professional for years. Eddie Pepperell is the perfect person to do that with. Fully open with him thoughts, super analytical, a media voice himself as co-host of the hugely popular podcast ‘The Chipping Forecast’, and someone that has experienced both the highs and lows of a sport that tests your mental strength as much as any other. He has been an outspoken voice on LIV Golf, as well as being very open about the need to protect and develop the DP World Tour. I absolutely loved sitting down with him, got the opportunity to nerd out as you will see when talking about the Masters, and developed my understanding of what it’s really like to call the golf course your home. I’m delighted to welcome Eddie to the Business of Sport.A huge thank you to our amazing partners on the show: AirwallexThe intelligent financial platform for global businesses⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.airwallex.com/uk/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠GeminiWe empower the most confident sports organisations on Earth⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://geminisports.ai/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠If you’re interested in partnering with the show, please reach out to us at⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠

It won’t surprise you to hear that today’s show will be focused completely on the guilty verdict handed down to Manchester City last Friday. Firstly, there have been many of you who have been relentlessly calling for us to do a show on this since it broke. We explain why we didn’t jump straight on at the start of today’s episode, and I am pleased that we did hold off and can come to you with a more complete set of thoughts and information. Secondly, it is the size of this story and the potential ramifications both in football and beyond that make it so important to cover properly. There is a lot of emotion flying around, as there always is in sport, and at the end of all this I think I can speak for many in saying that this is not something to gloat over, to celebrate, to enjoy. This country’s greatest export is Premier League football. What happens in the coming weeks will determine whether the product can both deliver a punishment that befits the crime and acts as deterrent while also protecting the interests of everyone involved in the game who calls it work or gives their everything as fan. So let’s get into it. This is our take on the Manchester City case on The Breakdown.Disclaimer:The content of this podcast is intended as commentary and opinion on matters of public interest in the sports industry. While we make every effort to ensure accuracy, figures, statistics, and financial data referenced may be based on publicly available estimates and could be subject to error or change. Nothing in this podcast should be taken as a statement of fact. If you believe any information is inaccurate, please contact us at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and we will endeavour to correct the record promptly.A huge thank you to our amazing partners on the show: Fanbase⁠⁠⁠https://app.fanbaseclub.com/⁠⁠⁠Transferroomhttps://www.transferroom.com/Subscribe to our Substack for bonus content:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://substack.com/@businessofsport⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠If you’re interested in partnering with the show, please reach out to us at⁠⁠⁠[email protected]⁠⁠

A genuine world class athlete joins us on the show today. There are few sports people with more influence than India’s international cricketers, and Rishabh Pant has been at the top of the cricketing world for a decade. A multi format player who captured people’s attention with his aggressive batting and elite talent, there has always to be a story to tell here that looks beyond the performance, and today we’re delighted to bring it to you.Having survived a near fatal car crash in 2022, the Rishabh that sits with us today is a different one to the man who started a career with complete tunnel vision to reach the top. As he explains, an experience like this has pushed him to look at life more holistically, from time spent with family to building a business and investment strategy that will extend long beyond his playing days. It’s an incredible story, and as we rarely get to see inside the life of an Indian cricketer, a privileged opportunity to grasp what it is like playing for one of the most followed sports teams in the world. We’re delighted to welcome Rishabh to the Business of Sport.A huge thank you to our amazing partners on the show: AirwallexThe intelligent financial platform for global businesses⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.airwallex.com/uk/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠GeminiWe empower the most confident sports organisations on Earth⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://geminisports.ai/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠If you’re interested in partnering with the show, please reach out to us at⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠

With an extra long international break upon us, it is time to take our first proper look at what the early parts of the season have delivered, and to Charlie Snr’s no great surprise, Spurs have continued to heap more pain on their fanbase. But why? This was also the week where Manchester United released their accounts, showing record revenues, but there is much more to the story than that. Clearlake have now really got the keys to Chelsea, albeit at a price which seems hard to justify based on, well, everything that the club has done in the last few years. Add to all this a look at whether Eddie Hearn really could transform rugby into the powerhouse he believes the sport should be, and why the WTA have been allowed to flutter away a major cash injection from CVC, and we have ourselves a breakdown.Disclaimer:The content of this podcast is intended as commentary and opinion on matters of public interest in the sports industry. While we make every effort to ensure accuracy, figures, statistics, and financial data referenced may be based on publicly available estimates and could be subject to error or change. Nothing in this podcast should be taken as a statement of fact. If you believe any information is inaccurate, please contact us at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and we will endeavour to correct the record promptly.As Charlie mentions in todays show, here is our full breakdown of Manchester United from June: https://youtu.be/H7VFxzAnzuk?si=oilOwybsLUePMtDuA huge thank you to our amazing partners on the show: Fanbase⁠⁠https://app.fanbaseclub.com/⁠⁠GIS⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://gis.sport/BoS⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Subscribe to our Substack for bonus content:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://substack.com/@businessofsport⁠⁠⁠⁠⁠⁠⁠⁠⁠If you’re interested in partnering with the show, please reach out to us at⁠⁠[email protected]⁠

Alexis Ohanian is back! Having joined us a couple of years ago to talk about Angel City and his broader sporting investment adventures, the time has come to dive back in with one of the most active (and successful) investors in women’s sport. In London for Athlos, the female only athletics competition he set up to both invest more and create ownership opportunities for the talent in the sport, Alexis not only took me through why he believes there is so much untapped opportunity in women’s sport, but how you can unlock it.Founder of Reddit, NWSL owner, IP creator, Chelsea Women co-owner, TGL golf franchise owner, sports tech investor, husband of Serena Williams; if you’re going to sit down and talk this through with someone, there are few better candidates. I’m delighted to welcome Alexis back to the Business of Sport.A huge thank you to our amazing partners on the show: AirwallexThe intelligent financial platform for global businesses⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.airwallex.com/uk/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠GeminiWe empower the most confident sports organisations on Earth⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://geminisports.ai/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠If you’re interested in partnering with the show, please reach out to us at⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠

In a week that has seen a bucket load of big sporting events and an equal amount of controversy, you won't be surprised to find out there is some heat in this show. The Ultimate Athletics Championships and Solheim Cup both delivered some serious entertainment over the weekend, emphasising the strength of women’s golf and proof that existing federations can create new IP and make it work. It’s also about time we check in on regular pod appearance maker Mr Infantino and his quest for survival. There is then of course the Sydney Sweeney drama, but the big one we want to grapple with this week is what on earth has happened to Nike, as they come to terms with dropping out of the S&P100 and a valuation drop of over $200bn in just a few years. All of that and we have ourselves a breakdown.Disclaimer:The content of this podcast is intended as commentary and opinion on matters of public interest in the sports industry. While we make every effort to ensure accuracy, figures, statistics, and financial data referenced may be based on publicly available estimates and could be subject to error or change. Nothing in this podcast should be taken as a statement of fact. If you believe any information is inaccurate, please contact us at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and we will endeavour to correct the record promptly.A huge thank you to our amazing partners on the show: Fanbase⁠https://app.fanbaseclub.com/⁠TransferRoom⁠https://www.transferroom.com/⁠GIS⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://gis.sport/BoS⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Subscribe to our Substack for bonus content:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://substack.com/@businessofsport⁠⁠⁠⁠⁠⁠⁠⁠If you’re interested in partnering with the show, please reach out to us at⁠[email protected]

Maarten Paes plays for Ajax and the Indonesian national team as a goalkeeper, at least that is what most of the bios will say. What they won’t tell you is that alongside his career as a professional footballer, he is also building a career in business and investment, and the approach he has taken to making himself more than his performance on the pitch is a story we had to cover on the show.There is a shifting attitude in dressing rooms that, in Maarten’s own words, is moving away from the macho discussions on who has the best car or most expensive watch to what they’re up to away from the game. We have discussed it at length on previous shows with the likes of Petr Cech, Pat Cummins, Matt Smith, Bryan Habana, but everyone’s approach is different. Maarten’s football career alongside this ambition is equally interesting; he spent four years in the MLS with Dallas and has qualified to play for the Indonesian National Team through his grandmother. Put it all together and we have another great example of a top sportsperson with a bucket load more to offer. We’re delighted to welcome Maarten to the Business of Sport.Maarten's Favourite Books:Ryan Holiday - Ego is the EnemyRyan Holiday - Obstacle is the WayChris Bosh - Letters to a Young AthleteRobin Sharma - the Wealth Money can't buyAtomic Habits - James ClearA huge thank you to our amazing partners on the show: AirwallexThe intelligent financial platform for global businesses⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.airwallex.com/uk/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠GeminiWe empower the most confident sports organisations on Earth⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://geminisports.ai/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠If you’re interested in partnering with the show, please reach out to us at⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠

We came into this week thinking not a lot had been happening. We got that wrong. LIV finally filed for bankruptcy, Kevin Pietersen made a miracle return to the England set up, the Champions League kicked off with an absolute treasure chest of cash to distribute to the participants, The NFL season begins which includes the first ever game in Australia…oh and Charlie fills us in on developments in the horse racing world. If that isn’t enough for you, we then move to substack to take a look at the sponsorship market in the Premier League as Liverpool announce a £60m a year deal with Turkish Airlines. All of that comes together to create another packed week of Breakdown content!Disclaimer:The content of this podcast is intended as commentary and opinion on matters of public interest in the sports industry. While we make every effort to ensure accuracy, figures, statistics, and financial data referenced may be based on publicly available estimates and could be subject to error or change. Nothing in this podcast should be taken as a statement of fact. If you believe any information is inaccurate, please contact us at ⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠⁠⁠⁠⁠⁠⁠⁠ and we will endeavour to correct the record promptly.A huge thank you to our amazing partners on the show: Fanbasehttps://app.fanbaseclub.com/TransferRoomhttps://www.transferroom.com/GIS⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://gis.sport/BoS⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Subscribe to our Substack for bonus content:⁠⁠⁠⁠⁠⁠⁠⁠⁠https://substack.com/@businessofsport⁠⁠⁠⁠⁠⁠⁠If you’re interested in partnering with the show, please reach out to us [email protected]

Athlete stories and their journeys beyond sport are a big part of this show. James Haskell is one of the most famous rugby players of the last 20 years, and much of that fame comes from the character he presents and profile he has alongside rugby. As you would expect, there is no filter applied to this chat. This is the real James, who came in ready to talk about rugby and the broader state of the game, alongside his work in the media, music, public eye, and so on. The big question is, and it’s one that James brings up a few times, if you want to punch him in the face at the start of the chat, will you still want to do so at the end of it? I’ve seen a lot of his content and followed his career from the beginning; I think this is a genuine insight into who he is, how he operates, and how he has built a profile coming from a sport than can often discourage them. We’re delighted to welcome James to the Business of SportA huge thank you to our amazing partners on the show: AirwallexThe intelligent financial platform for global businesses⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.airwallex.com/uk/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠GeminiWe empower the most confident sports organisations on Earth⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://geminisports.ai/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠If you’re interested in partnering with the show, please reach out to us at⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠

Charlie and Charlie take a deep dive into the rise and apparent collapse of LIV Golf, tracing the breakaway tour back to its ambitious launch in 2021 and the huge Saudi investment behind its attempt to challenge the PGA Tour. They examine the extraordinary financial packages offered to players, the appeal of guaranteed money and franchise equity, and why stars including Dustin Johnson, Brooks Koepka, Bryson DeChambeau and Jon Rahm made the move while Tiger Woods and Rory McIlroy stayed away.From LIV's failure to secure the distribution, audiences and fan loyalty needed to make the model commercially viable to the fundamental problems with team golf and its lack of history and heritage, they ask where the breakaway tour went wrong. With the 2026 season ending early, players and suppliers reportedly owed money and a proposed "LIV 2.0" involving fewer events and lower prize money, they explore whether LIV can actually survive in any meaningful form. Could Saudi Arabia have achieved its ambitions by investing in the existing European Tour instead? What happens to the LIV golfers now? And was the entire project doomed by the strategy from the very beginning?Disclaimer:The content of this podcast is intended as commentary and opinion on matters of public interest in the sports industry. While we make every effort to ensure accuracy, figures, statistics, and financial data referenced may be based on publicly available estimates and could be subject to error or change. Nothing in this podcast should be taken as a statement of fact. If you believe any information is inaccurate, please contact us at ⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠⁠⁠⁠⁠⁠⁠⁠ and we will endeavour to correct the record promptly.Subscribe to our Substack for bonus content:⁠⁠⁠⁠⁠⁠⁠⁠⁠https://substack.com/@businessofsport⁠⁠⁠⁠⁠⁠⁠⁠If you’re interested in partnering with the show, please reach out to us at:⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠