Today we’re delighted to welcome Spencer Owen, Founder & Owner of the iconic Hashtag United, to the show. This is one of the most unique organisations in football. Why? Well it was founded on the internet before becoming a successful men’s and women’s team competing in English football. Spencer, or Spencer FC as many of his fans know him, built one of the strongest online brands in football, with over 2m YouTube subscribers regularly engaging with his channel.

When he decided to take Hashtag from online concept to physical sports asset, unsurprisingly it was met with confusion and ridicule by an industry not known for it’s acceptance and embrace of change. As a result, this show is one of most interesting assessments of both what makes football so great, and where there are major opportunities for change. It’s a very different take on the football owner and executive shows we’re used to, and that’s why we love it.

This is sport for a modern age, packaged in a conversation explaining how a club that has more subscribers than many Premier League clubs has created a new blueprint for team ownership and management.

On today’s show we discuss:

SpencerFC to Club Owner:

• What was the first step in becoming one of the most famous football ‘influencer/streamer’ and how did that lay the foundations for Hashtag United?
• This is a club born on the internet; from creating a community online to turning those fans into active sports goers.
• Influencer driven sport has become a far more recognised phenomenon, but what was it like in the early days taking creators into real life football matches?
• This is reverse engineering a football club; why building a fanbase before they had an on-field product has given Hashtag a unique opportunity

Business of Hashtag

• “We are at our heart an advertising business when you think about how we make money”
• Playing in the 7th tier of English football does not deliver big revenue, so what have Hashtag done to make themselves so commercially attractive.
• How not owning their own stadium is an issue they are looking to resolve and why a physical home for their broad fanbase will elevate the team’s identity.
• Raising money is next on the agenda but what type of people is Spencer looking to bring into the ownership group?
• “We are the opposite of Wrexham”

Dealing with Criticism…

• How naming the team Hashtag United created an unforeseen issue yet remains one of the most important things about the club.
• Is there a problem with creating a model dependent on views more than results?
• The story of how the club has used broader issues and opportunities in women’s football to create a really successful team.
• The 3pm blackout and the issues that it hides…?
• It doesn’t make financial sense to be promoted in non-league football! What does Spencer mean by this?

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Today we’re delighted to welcome the British and Irish Lions CEO Ben Calveley to the show. The Lions are one of the most iconic institutions in sport. Made up of players from England, Scotland, Ireland, and Wales, this team which tours once every four years is the pinnacle of many a rugby player's career.

In just a few weeks, the team will begin its tour of Australia, trying to win a series for only the third time in the last 30 years. This highlights how difficult it actually is for the Lions to be successful. There are few things more difficult than winning away in New Zealand, South Africa and Australia. But what is it that makes the Lions so revered? How do the players turn off rivalry to become the ultimate team for a few short weeks. As described by the Lions themselves which perfectly sums it up, this history is a testament to the power of unity, where rivalries are set aside in pursuit of rugby excellence.

This is the real Lions brought to you by the man in charge of the whole legacy. We’re delighted to welcome Ben to the Business of Sport.

On today’s show we discuss:

Sculpted in History:

• When was the Lions formed and how has it shaped the most unique team in rugby, maybe even in sport?
• What does it mean to be a part of the Lions; from inclusion as player to the coaching staff taking on the challenge.
• Who has the advantage? The balance between putting together the strongest team from four great rugby nations and playing away from home.
• Why has success been so hard to come by and what have winning teams been able to harness?

Business of The Lions:

•  Behind the history, legacy and honour lies a business that needs to be delivering more than once every four years.
• How does the organisation make money? From broadcast to sponsorship to ticketing; the numbers behind the Lions.
• Can The Lions make themselves less financially dependent on the tour and diversify their risk profile to ensure the business is not over exposed?
• How do sponsorships work and why does Ben think their partners are so keen to align themselves with the team?
• This is a profitable organisation! What could other sports organisations pick up from the value created around the team?

The Future:

• A historic organisation must leverage its legacy while continuing to innovate. What are the Lions doing to ensure they remain at the front of the attention economy?
• The introduction of the Women’s Tour and what that does for both rugby and the brand.
• Would the team ever play a series in a location other than Australia, New Zealand, and South Africa?
• The modern media environment has created an era of sports documentaries, but how were the Lions at the front of this movement?
• Creating an event out of the squad announcement; how a day at the O2 will create an F1 car launch style buzz around one of the most exciting aspects of any Lions tour.

Today we’re delighted to welcome Manchester City Women’s Director Charlotte O’Neill to the show. This is a part of the game we talk about a lot. The growth of women’s football has been in turbo over the last decade, both in the UK and beyond. Man City have been one of the clubs leading that charge, compiling a squad of world class talent with the facilities and infrastructure to deliver on a long term ambition, to be the best women’s team in the world.

But behind this is a broad range of both successes and major challenges to overcome. From developing female first brands with unique value propositions to being held to account for a lack of financial sustainability as the men’s game haemorrhages cash, there’s a real story to be told for what is going on behind the scenes as these teams evolve through their investment phase into legitimate standalone football brands with social and commercial firepower.

On today’s show we discuss:

Evolution of Man City Women:

• When a women’s team is starting out, does it need to be able to leverage the brand and credibility of a strong men’s team to get ahead?
• What has been the most important part of being a team in the City Football Group setup?
• From foundation to legitimacy: how have the club developed both a trophy chasing team on the pitch supported by best in class infrastructure off it.
• What are the biggest challenges about running a women’s team in the WSL?
• Are the expectations placed on the women’s team similar to that of the men?
• How an access to the leadership of Man City, such as Director of Football Txiki Begiristain, has benefited Charlotte and her team when it comes to football and business.

Creating a Proper Business:

•  ”This assumption that women's football has to be sustainable from day dot really drives me mad”. What does it mean for the game to be in the ‘investment phase'?
• Understanding who the fans are; who are the core group attracted to the matches and how to the compare to the ‘traditional’ City fan?
• The rise of female first partnerships: how the women’s team and signing major brand deals with businesses looking to unlock and resonate with a new audience.
• What are the key revenue streams that drive the team and how do they compare to the men’s business model.
• To what extent does success on the pitch drive the success off it?

The Wider World of Women’s Football:

• How does the WSL compare to other strong leagues in the US and Europe?
• Are we attracting the top talent to come and play in the league and do the financial opportunities offered compete with salaries elsewhere?
• Should we franchise women’s football? The balance between security and maintaining brand value with jeopardy and open football pyramids.
• Where are the biggest opportunities for women’s football over the coming years?

A huge thanks to our partner:

Orreco

https://www.orreco.com/

Today we’re delighted to welcome Surrey County Cricket CEO Steve Elworthy to the show, our first venture into one of the toughest businesses in sport. Surrey is a historic institution in a historic sport, part of a club set up integral to the development of all cricket, including the much loved short form franchise tournaments that dominate today. But well documented, the clubs are struggling big time. Surrey, as you’ll hear, is not one of them.

By far the best team chasing a 4th consecutive championship, a key piece of infrastructure generating tens of millions a year, a perfect location in London, the business of this county team will surprise you I’m sure. But this format is in need of support and innovation. How can we grow the game of cricket and protect the clubs and format that may be out of fashion at the moment, but without which much of cricket wouldn’t exist?

This is the business of cricket away from the shining lights and big music.

On today’s show we discuss:

The Business of Surrey:

• What are the key business drivers of Surrey? From sponsorships to media to ticketing and events.
• Why is it so important to have a multi-purpose venue capable of generating revenue away from cricket?
• What is the balance of value between County Championship and short form matches like The Hundred or T20 Blast?
• Some years revenue can be £45m, others £65m. Why is it hard to create consistency in annual turnover?
• The sale of Hundred franchises will pump millions of pounds into the county game. What will this be used for?

Impact of Short Form Cricket:

• The Hundred and T20 Blast play a major role in attracting fans to club grounds. How do club benefit from these short formats even if they don’t directly own a team?
• Why innovation in cricket is more than just reducing the number of balls bowled.
• A discussion around player pay: there needs to be a recognition of the opportunities players receive and provide competitive offers to attract the best talent.
• With the Mumbai Indians owners buying into the Oval Invincibles, what will the benefits of a relationship be?

Keeping County Cricket Alive:

• The maintenance of red ball cricket is important for more than just tradition; why the grassroots game depends on long form cricket.
• Are the counties marketing their core product well enough?
• Surrey get over 50,000 fans in for a season; how can that be replicated in locations where teams get only 6 or 7,000?
• How can county teams modernise to attract the young fan and shake the perception that this is a format of the past?

A huge thanks to our partner:

Orreco

https://www.orreco.com/

Today we welcome Exeter City CEO Joe Gorman. This show is long in the making. One of the most requested guests we have had. Why? Well Exeter are one of football’s biggest rarities; a fan owned club. This means they cannot rely on the wealth and exuberance enjoyed by many to succeed on and off the pitch. They actually have to try and make the business make sense.

Punching above their weight for many years, the club sits in League One alongside mega rich teams like Birmingham and Wrexham, and are more than competitive. So how does a club owned by 4700 fans paying £24 a year compete at the top level? How have they turned a £5m investment into the academy to a return of £20m. And why is Joe adamant this is a club here to be the best football team, not just to pat on the head and applaud for doing things unusually well.

A truly unique model. A truly unique conversation. This is the other side of the ‘Business of Football’.

On today’s show we discuss:

Exeter: A Fan-Owned Club:

• What does it mean to be owned by the fans and how does it actually work when you have over 4700 ‘owners’ involved in the club?
• Is Joe’s job made easier or harder without having the pressures exerted on management by demanding multi-millionaire owners chasing the glories of Premier League football?
• How does the business of the club actually work in the context of making decisions to spend money. Is it consensus driven?
• The importance of building trust: “the fans need to know I have the best interests of the club at heart”
• Why this is more than a club to patronise for doing well off the field and how Joe, along with manager Gary Caldwell, is installing a winning culture from top to bottom.
• Would the club ever look for investment away from the fanbase?

A Unique Playing Model:

• When you can’t go out and spend millions on a star player, how do Exeter uncover talent who fit their model?
• The importance of creating value for top teams by nurturing talent and being a home that clubs want to send their brightest young players to.
• Buying players for 5-figures and selling them for 7-figures; winning for Exeter is more than just 3 points on the pitch.
• The value of the sell-on clause: why having a percentage sale on players sold is such a valuable cash flow addition.
• The fanbase needs to understand and get behind this business model for it to work. How do they relate to a team with pure ideals that may have a ‘success ceiling’?

Competing in the EFL:

• The financial disparity between clubs even in League One is becoming more apparent than ever. How do Exeter leverage their unique model to compete with big spenders?
• Are clubs like Wrexham and Birmingham good for the Football League?
• Whose responsibility is it to capitalise on the increased exposure afforded to the football league with big investors and TV deals now a common occurrence?
• Why does Joe fear wage inflation will be the thing that makes competing on a manageable playing field too hard to navigate?

And to our amazing partner:

Orreco

https://www.orreco.com/

Today we welcome Nicolas Julia, founder of Sorare, the record breaking platform that blends fantasy sport with digital collectibles. This is a step beyond the fantasy football/F1/rugby you may already be a part of. It’s an open market, providing the chance to show your skills and talent identification to buy, select and trade tangible assets in the form of player cards. They are reimagining sport for the digital age, combining NFT’s, global partnerships, and strategic gameplay to create a fan-owned, athlete connected future of sports entertainment.

From signing partnerships with the Premier League, NBA, and over 350 teams to generating nearly half a billion dollars of translations on the platform, Sorare has pioneered a new era of fan engagement while empowering athletes with their own data and IP. Serena Williams, Gerard Pique, Kylian Mbappe; they’re all backing the company to deliver on their objective of making every fan an owner or manager. But how did this bridge between digital fandom and the world’s biggest sporting entities form?

Big numbers, big partners, big ambitions. Nico delivers the thesis of a company at the heart of the modern sports industry.

In today’s show we discuss:

Building a Fantasy Sports Business

• What was the opportunity Nicolas and his partners identified when establishing Sorare?
• Born in the era of cryptocurrency and NFT’s, how has Sorare been able to navigate this highly volatile landscape and become THE fantasy sports platform?
• What does the business model look like? From attracting players to the platform to signing global partnerships with major leagues.
• What has the hardest part of working with very traditional organisations been? How much education is required when demonstrating the value Sorare can bring to a league?

Value of Athlete Partnerships

• Athletes are becoming more and more active in investment markets. How have Sorare leveraged the talent on their cap table to develop the brand and product?
• How did Nico encourage the likes of Gerard Piqué, Serena Williams, Kylian Mbappe, Lionel Messi to invest in the business?
• Are agents a blocker to getting access to athletes when it comes to presenting ‘long term’ business opportunities?
• Signing big brands and major rights deals is significantly aided by athlete participation; the story of how Serena Williams won Sorare the NBA contract.

Difference Between US & European Markets

• There is a major difference between the evolution of US and European markets when it comes to fan engagement, technology adoption, and athlete investing models. How has this shown itself in the growth of Sorare?
• Did the approach to winning contracts in the US have to change from the football model implemented in Europe?
• How do Sorare identify and prioritise new markets? The NFL is one of the biggest sports leagues in the world. Is this a target area?
• How does the development of the US betting market impact Sorare, if at all?

Orreco

https://www.orreco.com/

Scan.com

https://uk.scan.com/

Today we welcome 7-time NASCAR Champion Jimmie Johnson, a racing legend. Motorsport has never been bigger. The Liberty Media world of F1 has exploded, MotoGP has sold for over $4bn, but what about NASCAR? The US's second most watched sport is an entertainment and commercial giant, yet outside of America, it’s fair to say exposure is limited.

Jimmie Johnson is one of the most successful drivers to grace any track; think Lewis Hamilton or Michael Schumacher. He is the joint record holder for most Championships won, dominating the sport in the noughties winning 5 titles in a row. Now, he’s changed the race seat for team ownership with Legacy Motor Club. From billion dollar media rights deals to cars described as revolving billboards, when we get into it, the business of this sport is ridiculous! We’re delighted to welcome Jimmie to the show.

On today's show we discuss:

The Business of NASCAR:

• Where does NASCAR sit in the US sporting ecosystem?
• What does it cost to buy a team, or ‘Charter’, and how many cars do you enter into a race when you have secured your spot?
• The $8bn media deal is a major financer of the sport, but what does the distribution model look like?
• How much do the top drivers get paid and how has the sport changed as regulation restricts the money spent on cars?
• Why the demand for Charters is on the rise and the shift in investor profile.
• Does NASCAR need to go global to reach its full potential?

The Rise of Jimmie Johnson:

• From humble beginnings to the joint most Championships in NASCAR history, what did the path to the top look like?
• Racing in the 2000s was very different to racing in the present day; how did the salaries and stardom compare?
• Private planes and international fame…NASCAR drivers lived a great life, but what did the sacrifices to achieve the ultimate success look like?
• It’s hard to keep the fire burning; what did Jimmie do to ensure he kept focused and hungry?
• How is Jimmie adding value to Legacy Motor Club as a co-owner that leverages his storied career as a driver?

The Future of NASCAR:

• What does the sport need to do to reach its full potential? Should it go to the F1 playbook?
• Does the business model allow for the sport to grow? Should there be a better distribution model and decentralised control to develop the commercial end?
• With a couple of teams pushing back against the latest regulation, is the sport heading for a political dogfight?
• What does Jimmie want to achieve as an owner?

A huge thank you to our amazing partners:

Orreco

https://www.orreco.com/

Scan.com

https://uk.scan.com/

This week, we take a look inside one of the most talked about clubs this season. From hiring Wayne Rooney as manager to knocking Liverpool out of the FA Cup, it’s been a crazy season for Plymouth and CEO Andrew Parkinson. Even more so when the club finds itself bottom of the championship fighting for survival. But this is a club that continually outperforms its budget, competing against teams with 6x bigger budgets, and that’s what we want to get into today. How do you build success in a football club when you can’t rely on money to win?

On today's show we discuss:

Economics of a Championship Team:

• How do Plymouth compare to their rivals when it comes to the financial resources at their disposal?
• What does a club in the bottom half of the table generate in revenue?
• How much can they afford to spend on player budgets?
• The importance of having multiple budgets for multiple scenarios: facing the relegation reality.
• How much can a Championship team earn from sponsorship?

Plymouth this Season:

• Hiring Wayne Rooney at the start of the season attracted a lot of attention; was it more than a PR move?
• …and what happens when you have to sack a manager?
• The competitive nature of the Championship and the importance of staying in the decision for both financial and player retention reasons
• The value beyond emotions of beating Liverpool and pushing Manchester City in the FA Cup

Improve the Business of Football:

• Why Plymouth are looking for investment and what they would be able to do with an additional capital injection.
• Developing a high performing and well supported women’s team is a priority, but should it be under the same banner as the men’s?
• Does the 3pm blackout help or hinder football across the pyramid?
• Can the club implement a media strategy to help support the profile and exposure of the club?
• Cracking America: capitalising on the pilgrims link with the US

Orreco

https://www.orreco.com/

Scan.com

https://uk.scan.com/