Sports - Azzet - Business news, investments companies & executives

Sign inJoin Now

Sports

Sports
AO Ventures lifts investment in padel company
Venture capital fund AO Ventures has increased its investment in the fast-growing sport of padel by pouring more funds into a company that provides “financing solutions”. The investment arm of Tennis Australia and the Australian Open lifted its unspecified stake in Mindspring Padel, which enables padel clubs and venue operators to build courts without significant upfront capital. AO Ventures General Partner Todd Deacon said the follow-on investment reflected the fund’s conviction in Mindspring’s role in helping unlock the long-term potential of padel, which combines tennis and squash. “Padel is experiencing extraordinary global growth, but one of the biggest constraints on the sport’s expansion is access to flexible capital to build quality infrastructure,” Deacon said in a media release. “Mindspring has developed a model that removes a key barrier for clubs and operators by enabling them to build courts faster and with far greater flexibility.” AO Ventures looked for high-growth companies needing capital and business to unlock their next phase of growth and believed Mindspring had the potential to play an important role in scaling padel globally and in Australia. “Having the continued support of AO Ventures — wi
Sports
Adidas stock falls amid disappointing guidance
Shares for Adidas fell after the sportswear company provided disappointing guidance for 2026 due to unfavourable currency swings and a hit from United States tariffs. The company said it expects revenue growth in the high single digits from 2025’s total of €24.8 billion (A$40.4 billion). Adidas said operating profit is expected to increase to around €2.3 billion, despite a €400 million negative impact from U.S. tariffs and unfavourable currency developments. Despite revenues rising 11% to €6.1 billion and profit doubling to more than €164 billion, they still missed the mark according to FactSheet estimates. “Driving double-digit growth in the fourth quarter despite all the external turbulence, and more than doubling our operating profit in the quarter made the year end very well and made 2025 much better than we had planned and expected when the year started,” Adidas CEO Bjørn Gulden said. The majority of the company’s fourth quarter revenue growth came from its performance sector, which increased by 27%. Adidas also offered mid-term targets, with currency-neutral sales growing at a high single-digit rate in 2026-2028 and operating profit expanding at a mid-teens annual rate over that period. The company has a
Sports
Australian rugby league generates record surplus
The Australian Rugby League Commission has posted a 4% increase in operating surplus to a record A$64.86 million (US$45.8 million) for the year ended 31 October 2025. The results for the governing body for professional rugby league in Australia were disclosed in the 2025 annual report of the National Rugby League (NRL). Revenue grew 14% to $845.6 million while expenses increased 7% to $218.833 million in the 2025 financial year (FY25) compared with the previous corresponding period (pcp). “Financially, the game has never been stronger,” Commission Chairman Peter V’landys said in a news release. “2025 was another landmark year that demonstrated Rugby League’s unrivalled strength across the region.” Consistent annual increases in revenue and surpluses had compounded and enabled increased funding for players, clubs, states and grassroots and increased the Commission’s capacity to invest further into new revenue generating assets. The Commission continued its strategy of developing a strong, stable balance sheet to provide financial security and steady passive income with multiple hotels and investment properties and active management of secure term deposits. It distributed a record $562.331 million, 18% more than
Sports
Tennis Australia lifts profits, uncertain about dispute
Tennis Australia more than doubled its net surplus in the last financial year but disclosed a potential liability arising from legal action by players. The net surplus rose to $15.827 million in the year ended 30 September 2025 from $7.128 million a year earlier, according to the 2025 financial statements and reports. Revenue for the peak body for tennis in Australia rose by 17% to $692.687 million over the same period, while total expenses increased by 15% to $680.744 million. The share of the income or loss of equity-accounted investees was a $2.02 million profit compared with a $786,000 loss a year earlier. These relate to a 20% stake in British subsidiary Trident 8 Limited, which operates the Laver Cup, and 25% of Grand Tennis Properties Limited, which registers global trademarks for the four Grand Slams organisations. Tennis Australia accounted for an estimated share of profit of $1.978 million from Trident 8, compared with a $786,000 share of losses a year earlier, while dividends of $1.336 million were paid from Trident 8 to Tennis Australia. The organisation said the Professional Tennis Players Association (PTPA) and a group of players have brought proceedings against international tennis organisations, i
Sports
AFL boosts profit in 2025 as revenue rises
The Australian Football League has announced a 50% increase in its surplus for 2025. The peak body said the underlying operating surplus rose to $67.9 million in the year ended 31 October 2025 from $45.4 million a year earlier, a result that included contributions from controlled state subsidiaries, Marvel Stadium and Champion Data. Revenue increased by 16% to $1.203 billion, mostly because of a contracted increase in broadcast and media revenues in line with the first year of the new broadcast agreement. “There was also growth in commercial returns from Marvel Stadium events, commercial partnerships and consumer related revenue,” the AFL said in a media release. The AFL also said the player payment limit rose to $17.8 million per club in 2024/25 from $15.8 million in the previous year, while gross player payments increased 10.58% to $327.7 million. The average payment for a listed player was $505,961, up from $459,173 in 2024, while the average payment for players who played at least one senior match was $543,305, up from $493,592. A total of 22 players earned at least $1.2 million, up from 10 in 2024, and 58 were earning at least $1 million, compared with 25. AFL Commission Chair Richard Goyder said 2025 del

Sports
Super Bowl means business
US$8 million for 30 seconds. A television advertisement during the Super Bowl is expensive. In fact, no paid promotion anywhere in the world costs that much. For instance, the equivalent for a World Cup final or Olympic Games opening or closing ceremony is $1 million–$2.5 million. But the costs do not stop there because advertisers spend millions more on production, celebrity talent and promotional campaigns. It underlines the fact that the annual extravaganza of American football is big business. “From a commercial perspective, there’s no other sporting event - nationally or globally - that’s like the Super Bowl,” North Carolina State University Professor of Parks, Recreation and Tourism Management Mike Edwards said in this article. The 60th edition of game is being played on Sunday (Monday AEDT) at Levi’s Stadium in Santa Clara, California. Almost 70,000 people are expected pack into the home of the San Francisco 49ers to watch the New England Patriots play the Seattle Seahawks for the right to call themselves ‘world champions’. While nobody takes that title seriously, given the game involves only American teams, it is watched around the world, with Super Bowl LX expected to be viewed by millions of peopl
Sports
NFL names 49ers as opponents for Rams at MCG game
The National Football League (NFL) has announced that the San Francisco 49ers will play the Los Angeles Rams in the historic first-ever regular-season game in Melbourne. No date or time has been announced for the game at the Melbourne Cricket Ground (MCG) in 2026, which is part of an NFL record nine international games in 2026 across four continents, seven countries and eight stadiums this year. The Rams had previously been named as one of the teams. “As we continue our preparations for the NFL’s first-ever regular season game at the MCG in Melbourne, we are delighted that the San Francisco 49ers will take on the Los Angeles Rams," NFL Australia & New Zealand General Manager Charlotte Offord said in a media release. “The 49ers are a popular franchise within the Australian market, and this rivalry game solidifies what we know is going to be an incredible NFL experience for our fans down under.” 49ers CEO Al Guido said this was a terrific opportunity to continue to support the NFL in its mission to grow the game. "We look forward to working with the NFL to benefit local Australian communities through sport," he said. Los Angeles Rams President Kevin Demoff said his club was pleased to take its annual match-up ag
Sports
Tennis investor sees possible 2nd fund as deals flow in
AO Ventures, the venture capital arm of Tennis Australia and the Australian Open, expects to lift investments beyond US$40 million (A$57.2 million) by creating a second fund, according to General Partner Machar Reid. Reid said AO Ventures was assessing about 20 potential deals per week for its first fund, which has invested in four early-stage businesses that use innovative technologies, since its establishment in early 2025. It aims to make seed and series-A stage investments in 20 businesses in the sports, entertainment, media and health-related sectors over five years with the first fund. “We are seeing around 20 (deals) a week in various guises. That’s a mix of inbound and us reaching out to the market to understand what’s happening,” Reid told Azzet in an interview. “Most of the opportunities that we’re looking at tend to be international in nature, which ties in with the way the (AO) is positioned. It’s not just an event that captures Australia’s attention but (also) the imagination of the world. “In terms of what the future holds, we’re on the constant lookout for ways to grow and diversify our revenue. There’s no shortage of deal flow coming our way. “All going to plan we would expect to have another fund
Sports
Tennis fund springs into life with padel investment
The organisation that runs one of the world’s four largest tennis tournaments has invested in padel, a sport combining tennis and squash. AO Ventures, the investment arm of Tennis Australia and the Australian Open, is investing in Padel Haus, which it described as “the leading premium padel platform in the United States”. AO Ventures, which focuses on strategic early-stage investments in start-up companies transforming sports, entertainment, media and health, did not disclose the value of the latest investment by the A$40 million fund but described it as “significant”. AO Ventures General Partner Dr Machar Reid said AO Ventures was bullish on the global growth of padel and actively investing in it through a range of partnerships inside and outside Australia. “As a business, we have observed the explosion of the sport internationally and there are now strong foundations for growth in Australia, with courts, clubs and competitions continuing to be established,” Reid said in a media release. “We have closely followed Padel Haus for the past few years and been impressed with Santiago’s ability to repeatably execute on building premium venues and experiences for Padel players with attractive returns." Padel Haus Found