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Goldman to take US$1bn majority stake in Excel Sports
Goldman Sachs is about to acquire a majority stake in Excel Sports Management, the sports talent agency representing Tiger Woods, Caitlin Clark and Derek Jeter, in a deal which is expected to value the agency at around US$1 billion (A$1.54 billion). Plans by the investment bank’s asset management arm to buy Excel from entertainment-focused private equity group Shamrock Capital and its management team are expected to be announced as soon as next week, according to the Financial Times. In an attempt to bolster its growth from fee-based private investments, Goldman’s asset management division has been expanding quickly in mid-sized corporate buyouts and private loans. In 2023, Goldman Sachs launched a global sports franchise division within its investment banking unit to link clients with opportunities in sports teams, stadium projects, and leagues, while also expanding its sports financing services. Earlier this month, Goldman Sachs Asset Management struck a deal to acquire venture capital firm Industry Ventures for nearly $1 billion. Founded in 2002 by Jeff Schwartz, New York-based Excel Sports Management is a full-service agency providing management and marketing representation for athletes across basketball, baseba
Sports
Thousands of Nike staff told to hit the road
Nike has told staff it plans to reduce its workforce by less than 1% as part of plans to turn around the global sportswear brand. Employees were told of the layoffs in an internal memorandum signed by CEO Elliott Hill and other senior leaders on Thursday (Friday AEST), according to media reports. “Some of us will take on a new position or level, report to a new manager or join a new team,” according to the memo quoted in a Reuters story. “A small number … will depart, and we’ll honor the contributions they’ve made here.” Staff will learn if they are affected by 8 September, with most new roles taking effect on 21 September. Nike had about 77,800 employees around the world on 31 May, including retail and part-time employees, indicating the job losses will be less than 7,780. The layoffs will not affect Nike's EMEA and Converse businesses, and it is unclear exactly how many jobs will be impacted, according to a CNBC report. Hill is implementing a “sport offense” strategy aimed at refocusing the company on product innovation and marketing around sports like running, unravelling changes made by former CEO John Donahoe. In June, Hill said the company planned to "realign" into cross-functional teams organised by
Sports
Nike sales continue to slump amid turnaround efforts
Nike has reported an extended sales slump in its Q4 results. Fourth quarter revenues for the sneaker and sportswear giant were down 12% on a reported basis to US$11.1 billion, with sales for the 2025 fiscal year falling 10% to $46.3 billion. The company’s reported net income also fell from $1.5 billion, or 99 cents per share in Q4 2024 to $211 million, or 14 cents per share in the fourth quarter of 2025. Nike President and CEO Elliot Hill said while these results are in line with the company’s expectations, they weren’t ideal. “Moving forward, we expect our business to improve as a result of the progress we're making through our Win Now actions," Hill said. "As we enter a new fiscal year, we are turning the page and the next step is aligning our teams to lead with sport through what we are calling the sport offence. This will accelerate our Win Now actions to reposition our business for future growth." While the majority of Nike’s numbers have fallen, Nike stores proved to be a bright spot with a 2% increase in sales. The company took its biggest financial hit from its turnaround plan in its fiscal fourth quarter, and while the worst may be behind the company, new challenges like tariffs could prove difficult.
Sports
SMARTECH supports the 2025 Super Rugby revolution
Super Rugby is undergoing a revolution. Under new Rugby Australia CEO Phil Waugh, matches are faster-paced and higher-scoring, with Australian teams at their most competitive in years. Now, Super Rugby and Super Rugby Women’s have secured a naming rights partner in print and mailing solutions company SMARTECH Business Systems, beginning with the 2025 season. Crowds have responded positively to the sport’s changes, with attendance and viewership surging this year. Average match attendance across the first five rounds of Super Rugby grew by 34% year-over-year in 2025, while viewership has increased by double digit percentages in Australia, New Zealand, and Fiji. As the sport is revitalised, SMARTECH CEO Vincent Nair says there is a crucial opportunity to renew rugby’s place in corporate culture. This can help forge authentic relationships between clients and companies, he says. Azzet spoke with Nair about these naming rights partnerships and rugby’s ability to build bridges in the corporate world. How did SMARTECH's naming rights partnerships with Super Rugby and Super Rugby Women's come about? We felt that it was the perfect time to align our values and ethos. Rugby Australia was going through a leadership change and
Sports
UFC partners with Meta to raise fan engagement
Mixed martial arts league UFC has partnered with Meta to increase its fan engagement, as the companies continue to deepen their ties. Meta platforms like Facebook, Instagram, and Threads will include original UFC content under the multi-year deal, as well as contributing to UFC fan experiences. Other Meta services, like its augmented reality glasses and artificial intelligence technology, will be used at UFC events. “Meta has the greatest minds in tech and they are going to take fan engagement to the next level,” said UFC CEO Dana White. “We’ve already started to work on some innovations with Meta around a new fighter rankings system that I’ll be sharing soon. The next few years will be an absolute game changer for fans of this sport.” Meta’s branding will be added to UFC’s Octagon ring for its pay-per-view and Fight Night events. The partnership will also integrate Meta into UFC’s broadcast features and in-person events for fans. The social media company has also been named as UFC’s official artificial intelligence glasses partner. The companies will integrate Meta’s AI augmented reality glasses, produced in collaboration with Ray-Ban, into UFC’s events. Threads, Meta’s text-based social media app, will become U

Sports
What happens in Vegas: NRL opener... but at what price?
This weekend, arguably Australia's and the Asia-Pacific's No.1 sporting code, the National Rugby League (NRL), kicks off its 2025 season in Las Vegas. Following the success of the 2024 opener, this year’s games mark the NRL’s second of five contracted Vegas season starters. Together, eight teams from the NRL and the British Super League, along with the international women’s Test match, will showcase rugby league to a global market. The venture is said to stimulate the Vegas local economy, generate appeal for fans at home, and create a unique experience for American sports fans. However, it has been divisive among fans of the code and critics who believe it is not worth the “huge logistical exercise” it takes to get teams there. “I think whether you agree with it or not, it certainly creates a lot of interest and buzz around the NRL. Last year there was a lot of excitement and external buzz about the game, so it really launched the season well,” recently retired Melbourne Storm player and ex-captain Christian Welch tells Azzet. Welch has a keen interest in the business side of the sport. During his time as a player, he earned himself a degree in commerce and a Master's of Business Administration (MBA). “Spor
Sports
Anglo-Australian sports, shoe alliance - retailers lace up
British sports retailer Sports Direct is expected to open in Australia through a long term strategic agreement with Australian shoe retailer Accent Group. Accent said in an ASX announcement that it hoped to complete negotiations with Sports Direct’s parent company Frasers Group in the second half of the 2025 financial year (FY25). “We continue to expect that at some stage in FY25 (Accent) will announce the rollout of the Sports Direct banner in Australia, both through a physical store network and online website,” E&P Associate analyst Kade Madigan said in a research note. Accent also said it expected earnings before interest and tax (EBIT) in the first half (H1) of FY25 to be about $80 million, compared with of $72.4 million in the previous corresponding period (pcp) and consensus estimates of $78m for H1 FY25. The company said the half year forecast included a net positive impact of $3.3 million related to non-recurring items. Accent, whose brands include Athlete's Foot, Skechers, Vans, Dr. Martens and Platypus, said group “owned” sales, including wholesale sales, increased 4.6% in H1 FY25, and like-for-like sales rose 2.9%, including a 1.8% increase in weeks 21-26. It blamed the “ongoing promotional trading env
Sports
Elon to buy Liverpool? Dad admits billionaire's interest
Elon Musk’s father says his ultra-billionaire son is interested in purchasing one of the most famous and decorated clubs in world football - Liverpool Football Club. Errol Musk, in an interview with Times Radio, acknowledged that Elon has an interest in the six-time European Cup champions. “Oh yes, but that doesn't mean he's buying it,” Errol Musk said in the interview. “He would like to, yes, obviously, anybody would want to. So would I.” Errol Musk said the family have deep ties to Liverpool. "His grandmother was born in Liverpool, and we have relatives in Liverpool, and we were fortunate to know quite a lot of the Beatles because they grew up with some of my family," he added. "So, we are attached to Liverpool, you know." Liverpool have already attracted interest from celebrities in the past, notably with LeBron James investing US$6.5 million into the club for a 2% stake back in 2011 - of which he subsequently converted into a 1% stake in Liverpool’s owners Fenway Sports Group. That kicked off a domino effect for American A-listers to pour money into English football. Notably Ryan Reynolds’ and Rob McElhenney’s purchase of struggling Welsh club Wrexham, NFL superstar Tom Brady’s minority stake in Birm
Sports
Norman's role as LIV Golf CEO under fire: report
LIV Golf is reportedly searching for a new CEO, in an effort to replace retired Australian champion Greg Norman. Saudi Arabia’s Public Investment Fund, LIV’s main backer, aims to add a new CEO, chief legal officer, and chief revenue officer to the tour, according to Sports Business Journal. Norman would likely remain in LIV’s senior leadership. He has helmed LIV Golf since its inception in 2021. The PIF is allegedly seeking an executive from elsewhere in the sports world, having hired British firm Odgers Berndtson for the search. U.S. Big 12 commissioner Brett Yormark is among the executives reportedly contacted, though those discussions did not progress. LIV Golf is in talks to merge with the PGA Tour. Negotiations have stalled in recent months, as the tours initially planned to resolve the merger at the end of 2023. In September, LIV and PGA officials met to discuss transferring US$1 billion from the PIF into the PGA Tour’s new for-profit enterprise, but did not finalise a deal. However, former world #1 Jon Rahm previously said Norman may need to step down for merger talks to progress. "I do believe that, for conversations to take place, Greg might need to be gone,” Rahm said in 2022. "I think Greg has had a