• Loading stock data...
Saturday, December 14, 2024

Webinar: Financing The Recovery

Image via Pexels

The COVID-19 pandemic has permanently changed business operations within sports. Join us to learn how sports organizations and leaders are adapting their financial operations for a reset and for growth beyond Coronavirus.

This global panel discussion, including Scott Lexton of the Raine Group, Moon Javaid of the San Francisco 49ers, and Lara Price of the Philadelphia 76ers will speak about how their organizations, portfolios, and partners have adapted their cash flow, working capital, strategic planning, debt, and business models for the ‘new norm’.

Edited highlights appear below:

On areas of spending that have been most affected in sports (9:00)

Price: “There are three groups that have been extraordinarily hit by this, that would be the financial group, our legal group, and our HR team. Having to run different scenarios, base case changing every day (fans, no fans, small percentage capacity of fans), there’s a small group of us one the finance team that work on those projections and what that could look like. So different task force set up for different work flows, specifically on the financial stuff, it really is limited to the financial group and a subset of our managing partners and our CEO.”

On technology being essential to continuing operations during the pandemic (18:00)

Javaid: “Thinking through all of the Zoom calls that we have done, that’s just some of the basic technology. We hosted a conference. We host it every year. This year we switched to virtual. We used a tech platform to launch that conference and we were very happy with it. It flowed very seamlessly, from a virtual perspective. Even thinking about some of the ways that we engage our employees. The virtual calls that we were doing, the virtual all-hands meetings that we were doing, and even in a few weeks we are doing a virtual paint class…Having a team culture in a virtual capacity is very important and there are ways that we can achieve that.”

On shifting cash management strategies (30:00)

Javaid: “Here at the Niners, we switched to a monthly plan about 18 months ago. I think that’s just to even out your cash flow when you’re receiving your cash from your customers as opposed to getting a lump sum or two payments throughout a year…that has helped us out tremendously during this timeframe.”

On concept of bringing fans back (47:45)

Lexton: “I actually think that if you’re bringing fans back in some capacity, it’s probably a negative financial impact. It’s probably more about you want fans there for the product. I think people maybe don’t totally appreciate that there’s a certain amount of fans that you need within a stadium for it to make economic sense to happen there. It costs a lot of money to run a stadium if you’re going to have fans there…You have to have all the people there to service the fans, not to mention all of the now health-related costs you’re going to have related to COVID, the equipment that you’ll need to monitor temperatures, et cetera.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Mina Kimes and Ryan Clark at NFL draft

ESPN Talent Turns Its Fire on Aaron Rodgers

The network’s NFL talent ripped the QB as ‘hypocritical’ this week.
De'Vondre Campbell

49ers Set to Cut Starter for Refusing to Enter Game: ‘Stupid’ and..

De’Vondre Campbell refused to re-enter the game Thursday night.

NBA Cup Prize: Every Player Wants the Money, But One Would Get..

Each player on the championship team will win nearly $515,000.
opinion

Why Bill Belichick’s Media Stint Could Help Him at UNC

Belichick became a media fixture during his year away from coaching.

Featured Today

The Top-Secret Operation to Create the Army-Navy Football Uniforms

The two-year process includes dozens of employees, NDAs, and military historians.
Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena
December 9, 2024

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.
Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion
December 7, 2024

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Sponsored

Women in Sports are Leveling Up

Three graduates of Ohio University’s Professional Master of Sports Administration shared their sports business success stories on FOS Fundamentals.
Sponsored

Executive Roundtable: Putting Employees First

Best Employers in Sports, Charlotte Hornets, Miami Dolphins, remote work, diversity, inclusion, COVID-19, leadership, career development
Sponsored

Webinar: How The PGA TOUR Drives Digital Engagement

The PGA TOUR has always been at the forefront of digital engagement and innovation. In collaboration with its longtime partner, iX.co, the TOUR continues to create news ways to engage with its global fan base.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
Sponsored

Webinar: The In-Venue Technology That Can Welcome Fans Back

Representatives from Samsung discuss in-stadium tech solutions to keep fans safe and entertained with Front Office Sports.
Sponsored

How Digital Technology Is Being Leveraged to Create Great In-Venue Experiences in..

An all-star panel joins Front Office Sports for a webinar on creating strong in-venue experiences for fansduring and after the pandemic.
Sponsored

How Today’s Brands Are Maximizing Sponsorship ROI With Their Own Analytics

Representatives from Dell Technologies, Stanley Black & Decker, GumGum Sports and FOS CEO Adam White discuss sponsorship analysis today.
pexels
Sponsored

OneTeam Partners: Athlete and Brand Amplification for the Cutting Edge Sports Marketer

Reps from OneTeam Partners join this Front Office Sports Webinar to discuss esports, NIL marketing rights, working with NFL players, and more.