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Posts from the ‘Football Finance’ Category

Wasps and Warriors in Crisis?

What is going on with Rugby?

More recent news in the Rugby Premiership is that Worcester are going through a financial crisis. Is this the start of a trend destined to hit more rugby clubs in Union and indeed League.

Due to the tough struggle of everyone in the last two years from the Covid-19 pandemic and the rise in the “cost of living” they have stated they had a large sum of tax liability to Her Majesty’s Revenue and Customs (HMRC).

It is believed that Worcester’s tax bill now stands at around £6 Million.

However, Colin Goldring, Co-Chairman of the Club, has stated to an email to his employers “Any articles that we are in administration, or going into administration tonight, tomorrow, next week etc are all untrue”.

There is a takeover offer to rescue the Club’s future with American partners, but they ‘must be placed into immediate administration’ and this would leave the Club to be set back a 35-point penalty.

Wasps are also struggling with debt. They were expected to start the Season in arrears as they failed to pay a £35 Million retail bond. Due to this crisis we have been informed 11 players are leaving the Club and £1 Million worth of talent has been lost.

Also, it’s been said that Wasps could risk being sued by Coventry City Football Club after they were forced to postpone two matches due to pitch being unplayable.

Article researched and compiled by Kaya Stores.

Barnsley cut ties

A few days after a new sponsorship agreement at Barnsley Football Club was realized, HEX.com, a crypto currency company, was allegedly found to have posted homophobic social media comments. Not something applauded or tolerated in this day and age.

We are advised that “Brent Morrisey, the owner of HEX.com made a statement saying he did not condone the actions of the 2 members of the company and said the members where not associated with the sponsorship deal however he also stated “charitable donations in the thousands of pounds have already been made to the Barnsley food bank by members of the HEX community in the past few days and continue to be made in solidarity between the communities”. So that’s the corporate take but the Club weighed up the implications and decided to cut ties.

Within 7 days after the post the Club decided to cancel the sponsorship with immediate effect. In a statement they said they “valued their fans and core beliefs above everything else”. Well done Barnsley.

The Barnsley LGBTQ+ group were happy with the decision and the Club’s stance.

Discrimination of any sort is tackled head on quite rightly, and even in our own sports enterprise a key consideration.

Some notworthy organisations worth following includes:

Kick It Out

Women In Football

Council of Europe

Out On The Fields

UK Parliament

Stonewall

Article researched and compiled by Kaya Stores.

Growing by the day!

Our Football Business Networking Event at the Etihad Stadium is growing by the day!

Our events are the ideal environment for anyone in the football industry to come and meet potential partners and suppliers, with networking the core focus of the day.

Running from 10.30am-3pm. There’ll also be refreshments and lunch are provided to all our guests.

We’ll also be shortly announcing an exciting Q+A Panel on the changing face of sponsorship, made up of influential industry figures and put together by one of our sponsors Acrobat FCSM, which will be well worth attending.

It’s FREE* to attend as a delegate for all clubs officials and businesses, so why not join us at the Eithad for a great day of talking all things football!

https://www.footballtradedirectory.com/book-delegate-ticket?cat=111281


Speakers to include:

Adrian Stores

CEO at ACROBAT FCSM – strategic marketing, sponsorship and fundraising agency.  Former Chair to Chartered Institute of Marketing’s specialist sports consultants and worked on projects for some of the top brand names as defined in the Deloitte’s “Football Finance Report” and Brand Finance’s “Sporting Brands”.

Ming Zhao

Marketing Manager at Blackburn Rovers FC.  Respected football commentator for leading broadcasters in China including on: PP Sport; Super Sports; PP Sport; and iQIYI Sports.  Ming is an advocate of DDDM (data-driven decision-making) and is keen on helping leading brands achieve competitive advantage with his data savvy and multilingualism.

Dan Wilson

Partner at Sedulo. He graduated from Manchester Business School with a first class degree.  Dan works closely with all the sports clients at Sedulo ranging from football to rugby league clubs and also specialising in the National Governing Body industry.  He was FD at a professional football club for 3 years.

Giorgi Jashiashvili

Giorgi is the CEO and a co-founder of Enefty, the no-code fan engagement platform based in Berlin. After spending multiple years in advertising, fan engagement and community management areas, he has founded Enefty to help clubs with sponsorships and fundraising by utilizing the latest NFT (Non-Fungible Token) technology.

Not for tyre kickers (NFTs)

Thought I’d be flippant in titling this article. But double-entendre is to suggest that my path is to embark on the journey – and my musings are for those that want to do same and actually act to join web 3.0 and metaverse.

I first wrote about the meta and metasphere earlier in the Year and was delighted that it was syndicated and shared by my good friend and scholar, Prof.Dr. Sebahattin Devecioğlu.

Every day is a school day as the subject matter is still in its infancy yet some interesting content that I’ll share with readers every time I speak out.

I’m a proud Stockport County supporter – and note that our EPL “Noisy Neighbours” have realised the future possibilities – and scope where virtual and real worlds intertwine. Both City and United are tackling meta-projects and resourcing of personnel has taken place. Also, in the North West, the Merseysiders, Liverpool, have had more recent airtime. It created and auctioned NFTs (non-fungible tokens) and digital assets only last Month. Less than 6% of them were sold yet the Club still generated £1.1M.

Nike is an interesting invader of this space and has with RTFKT, introduced the first RTFKT x NIKE CRYPTOKICKS NFT: The RTFKT X NIKE DUNK GENESIS CRYPTOKICKS Sneaker Powered by DRM OS and Skin Vial Tech. The clothing and footwear giant acquired the 2-year-old agency and nurtured this digital training shoe. This collection of “digital sneakers” were leaked on Discord and Twitter. The shoes, called Nike Cryptokicks, are modelled after the Nike Dunk sneaker and mark the brand’s long-awaited entrance into digital clothing. So far sales are in excess of $11M. 20,000 NFTs are in this initial collection.

Another story that caught my attention was the Bored Ape Yacht Club (BAYC). BAYC is a collection of 10,000 Bored Ape NFTs—unique digital collectibles on the Ethereum platform. The family of Bored Apes increase in value through use of the Yacht Club membership card, and grants access to members-only benefits.  It is the latter that defines the criteria for success in NFTs and especially in the sports applications. 

“The value is not in the imagery itself as a collectible, but the

prescribed or societal value that it is associated with.”

We have taken our first plunge into NFTs at Stockport Volleyball. One of the fastest growing clubs in the UK and Winners of the Men’s National Shield defeating London Aces in the Final this Year. Every day in the metaverse is a learning one – and we have taken our time to choose the correct partner that has synergy and compliments our strategic marketing, sponsorship and fundraising expertise at ACROBAT FCSM. Furthermore, in that our volleyball club is the pilot, we have established the venture with our German partners to offer immersion into the meta-world without any upfront fees. The ‘no risk’ incentive is based on a financial model whereby only a small, single digit percentage of commission is due only on realization and sale of the NFTs. Attractive proposition eh, we certainly think so. So our tried and tested illustrator has been commissioned and we are working on the list of membership benefits to add-significant value to any investment as well as aligning with marketing strategy and collateral for the Club, our sporting clientele and business as a whole. Watch this space, we’re on our way!

Adrian Stores is Director and CEO at strategic marketing, partnerships, sponsorship and fundraising agency, ACROBAT FCSM. Award winning. Established 1995.