Highlight Reel: Saudi Set Sights on IPL-Backed Global T20 League 🏏

This week's top stories feature Saudi Arabia, IPL, Olympique Lyonnais, Michele Kang, Topgolf, Special Olympics, Serena Williams, and Manchester City.

Apr 21, 2023

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Welcome to the Highlight Reel, where keeping up to date with sports business news is as effortless as an Erling Haaland hat-trick.

This week's lineup includes…

Saudi eyeing global T20 league 🏏
Lyon deny agreeing to sell women's team ⚽️
Topgolf at the Special Olympics? ⛳️
Serena Williams launches 926 Productions 🎾
Man City’s stadium development application 🏟

Thanks to Dan, Alex, Lucas, Mayank, Alexandra, Paul, and Nick for liking last week’s post.

ICYMI: My latest newsletter for JohnWallStreet: Private Investment Needed to Get Athletes Back on Track 🏃🏾‍♀️ dropped on Wednesday… Let me know what you think!

Saudi Set Sights on IPL-Backed Global T20 League 🏏

Saudi Arabia is reportedly looking to establish the world’s most lucrative Twenty20 tournament and has sought the backing of Indian Premier League (IPL) owners and the BCCI and reports suggest that government representatives have held informal discussions.

The combined financial backing of the Gulf state alongside the IPL conglomerates, which have already purchased multiple T20 franchises globally, could make it one of the world’s richest T20 competitions from its inception.

Indian cricketers, who are currently banned from competing in other overseas T20 tournaments by the BCCI, could be permitted to participate. In February, the IPL secured a $7.24m per year deal with Saudi Tourism Authority.

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Lyon Denies Reports on Agreeing to Sell Majority Stake of Women's Team ⚽️

Olympique Lyonnais have denied reports American businesswoman Michele Kang has reached an agreement with owner John Textor’s Eagle Football Holdings to acquire a majority stake in the women’s team.

L’Equipe reported Kang – who is majority owner of NWSL side Washington Spirit – had pledged to cover Lyon Women’s annual deficit of $13.6million and purchase 52% of shares in the club.

The move could have set an interesting precedent in that it would have designated the women's team as a club, and investment asset, in its own right - something uncommon in European football.

Lyon did, however, confirm plans to sell its NWSL club, OL Reign.

Topgolf Becomes First Branded Medalled Event with Special Olympics ⛳️

Topgolf has announced that it is set to become an officially sanctioned event with Special Olympics, the first time that a brand has ever become a medalled event.

From 2024, the local organizing committee for any Special Olympics event held across the U.S. or around the globe will have the option to include the golf driving range game as a global medalled event, potentially including it at the Special Olympics, USA Games, or World Games.

Topgolf, whose core of its mission is to make the game more accessible, diverse and fun, already has 80-plus venues worldwide, with dozens more expected to open soon.

Serena Williams’ 926 Productions Set to Serve Diverse Voices 🎾

Serena Williams has announced the launch of a new multimedia production company 926 Productions.

Previously an SVP of television at Grand Electric, Caroline Currier will be president of the new company and will manage production and development while working closely with the 23-time grand slam champion.

Through the launch of company, Williams has expressed her aim to “elevate female and diverse voices through content that speaks to everyone.” This is not dissimilar to Sue Bird and Megan Rapinoe’s ambition when launching A Touch More, as well as her fellow tennis star, Naomi Osaka’s Hana Kuma, which was started to produce culturally specific stories that tackle prevalent issues, especially regarding people of colour and women.

Man City Submits Ambitious Stadium Development Application 🏟

Manchester City has submitted a planning application for an ambitious development project at the Etihad Stadium, aimed at creating an unparalleled fan experience and year-round entertainment hub.

The proposal includes expanding the North Stand to increase seating capacity to over 60,000, featuring a larger upper tier with a sky bar and stadium roof walk, drawing inspiration from the popular Dare Skywalk at Tottenham Hotspur's stadium.

Plans also include a covered City Square fan zone, new club shop, museum, and 400-bed hotel, as well as workspace for start-ups and medium-sized organizations to collaborate with the club. The project promises to elevate the stadium into a top-ranking attraction for fans and visitors alike.

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