IT’S ASHES WEEK. One of the biggest occasions of the sporting year is here, and with it we have a special show unlike any other we’ve done before. The Barmy Army is so influential it has made it into the Oxford Dictionary: to quote…it is a term for a group of passionate, noisy, and dedicated fans who support the English national cricket team, especially during overseas tours. For over 30 years, they’ve built incredible atmospheres by leveraging trumpets, original songs and bucket hats so fashionable they’re found all over Glastonbury. 

But did you know behind this infamous group sits a hugely successful business, with a responsibility to bring the best experiences to the thousands of touring fans under their banner. Chris Millard is the man in charge of the Barmy Army, and in a 6 week period that will no doubt have them front and centre of sports news as 40,000 England fans descend on Australia, we thought it was the perfect time to take a look at the organisation that defines fandom and community. This is a side of the Barmy Army you will not have seen before.

It’s time to build the hype for as we enter the ultimate cricketing Christmas. We’re delighted to welcome Chris to the Business of Sport

Timestamps:

00:00 Intro

03:22 What the Barmy Army Has Planned for the Ashes

09:20 What the Barmy Army Is Today

12:15 The Revenue Streams

14:41 How Bazball Has Boosted Test Cricket Demand

16:39 How Touring Groups Collaborate in Cricket

23:39 Did Commercial Growth Threaten the Barmy Army’s Values?

27:07 How Barmy Army Merch & Licensing Works

31:14 How Fan Culture Can Help Strengthen County Cricket

34:20 Why Test Cricket Survives Only in a Few Nations

37:52 How Packed Calendars Impact Player Welfare

43:08 How Iconic Grounds Were Left Off the Ashes List

46:03 Predicting the Ashes Outcome

51:43 The Long-Term Vision for the Barmy Army Business

On today’s show we discuss: 

The Business Behind the Barmy Army:

• How a grassroots fan group founded in 1994 has grown into a multimillion-pound sports business.

• Why the Barmy Army now operates with full-time staff, global partnerships, and a sophisticated travel, merchandise, and events model.

• The operational challenge of managing over 3,500 official tourists, and more than 40,000 fans, on a single Ashes tour.

• How it evolved from a group of England fans into a global movement with over two million social followers.

Partnerships & Governance in Cricket:

• Inside the economics of a modern fan brand. From travel packages to apparel, partnerships, and social media monetisation.

• How collaborations with TNT Sports, retro kit lines, and bespoke tour collections have turned the Barmy Army into a fashion and lifestyle label as much as a supporters’ group.

• The Barmy Army’s evolving relationship with the ECB, from being seen as a rival to becoming an ally and trusted partner.

• How the group now collaborates with governing bodies across the world to influence tour schedules, ticketing, and fan logistics.

Test Cricket, Tourism & the Global Game:

• Why the Barmy Army believes Test cricket is still the sport’s heartbeat and how their tours generate up to $750 million in host-country impact.

• The critical link between tourism, culture, and cricket’s survival, from Barbados to the Ashes.

• The fight to preserve the long-form game amid scheduling chaos and private league dominance.

• The obstacles of perception, access, and tradition when expanding into new territories.

• Why the future of fandom will be driven by authenticity, emotion, and the fans who live the game, not the corporations who sell it.

Rugby is facing a massive few years. A battle to demonstrate financial sustainability, the need for players to build brands that can compete with sport’s biggest stars, a threat to established systems from challenger leagues; it’s sink or swim time, if that’s not being too dramatic.

Dan Biggar is one of the game’s great fly-halves (though he’d never admit it himself): over 100 caps for Wales including 3 World Cups and a 6 Nations Grand Slam, and a 2-time British & Irish Lion. While it pains me to recognise much of this success with any genuine words of congratulations, what we are seeing from him now in his work behind the scenes in the media and wider business world is much easier to support. It’s a great example of the real value an athlete can bring beyond the field. As you’ve just heard, a quite brilliant segment of this chat is Dan opening up on life after retirement and how to adjust as an athlete to a new reality. 

Yes this is about the state of Welsh rugby, but it’s also a look at the broader game and what needs to happen to ensure rugby can compete for the attention of fans increasingly being pulled in different directions by new and shiny entertainment offerings.

Timestamps:

00:00 Intro

05:49 The Current State of Welsh Rugby

10:13 Why Wales’ Rugby Results Have Declined

12:17 Inside the WRU’s Unique Funding Model

17:26 What Steve Tandy Brings to Wales

20:14 Why Gatland Worked Then

30:26 Inside the 2015 Rugby World Cup ‘Group of Death’

34:31 Life After a Defining World Cup Moment

46:37How Dan Biggar Views the PREM Rugby Today

50:53 How Competitive Are Welsh Teams Right Now?

54:54 Moving Into a New Environment After Rugby

01:00:52 How Personal Brands Shape Today’s Athletes

01:03:37 The Scheduling Problem Facing Club & Country

01:07:37 After Rugby & Media: What Comes Next?

On today’s show we discuss: 

The State of Welsh Rugby:

• Why Welsh rugby finds itself at a crossroads. From funding issues to failed reform and player development.

• The controversial “One Wales” plan, the fallout from the WRU’s regional restructuring proposals, and why leadership and clarity remain missing.

• Inside the WRU’s unique funding model.

• Why this structure has created dependency, stagnation, and political tension between clubs and the national setup.

• Why new head coach Steve Tandy represents a complete cultural reset for the national team.

The Biggar Years & Playing at the Top:

• What went right during Wales’s recent golden generation and what went wrong since.

• The evolution from Warren Gatland’s hard-edged discipline to Tandy’s empathetic, relationship-driven leadership.

• The psychological toll of success and expectation, and what it really takes to stay at the top for nearly two decades.

• How contract negotiations, club moves, and personal ambition shaped his career.

The Future of Rugby & Athlete Branding:

• Why players like Henry Pollock are the future of rugby, as entertainers and cultural icons as much as athletes.

• The value of player branding in driving ticket sales, sponsorship, and engagement in a sport fighting for relevance.

• • Why rugby must embrace individuality, storytelling, and innovation to compete with football, Formula One, and the NFL.

  
  

  A huge thank you to our amazing partners on the show: 

  Stryde

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Multi-club ownership groups have had a tough year in the eyes of many, with high profile cases around Crystal Palace & Lyon as well as Forest & Olympiacos showing the competitive risk of one owner or group having too much control over multiple entities. But, and it is a big but, this model can be a hugely valuable business and performance structure to apply to football.

Tim Bezbatchenko is the President of Black Knight Football, the group who owns or has minority ownership in multiple clubs including Bournemouth, Hibernian, and Lorient in France to name a few. It’s an amazing time to be having this chat with Tim due the success Bournemouth are achieving this season, miraculously after another summer of selling some of their best players. This is an insight into how they have built a player trading model to offset the financial challenges of having an 11,000 seater stadium, the plans to develop infrastructure, the value of shared intelligence and analytics across multiple clubs, and most importantly how you protect the badge of each team so they do not just become feeders to the premium asset in the group.

This is a proper look at the MCO model from someone who firmly believes that collective value can breed the best business in football. We’re delighted to welcome Tim to the Business of Sport.

Timestamps:

00:00 Intro

04:26 What Black Knight is really about

12:07 The business edge of owning multiple clubs

17:02 Inside Bournemouth's rise under Andoni Iraola

25:45 Bill Foley's mantra: "Always Advance, Never Retreat"

31:24 How Bournemouth sells stars yet keeps getting better

44:52 Building a sustainable club: revenue, academy & player trading

01:01:14 Why Bill Foley chose Bournemouth over an MLS team

On today’s show we discuss: 

The Rise of Black Knight Football Group:

• What it takes to build a multi-club ownership group across five countries and why Bill Foley’s “Always Advance, Never Retreat” mantra is shaping everything from the Premier League to Portugal.
• How AFC Bournemouth became the flagship club for a growing global network that includes Hibernian, Lorient, and Moreirense.
• Why multi-club ownership is football’s next frontier and how to build it sustainably

Inside the Business Model:

• The economics behind owning multiple clubs from shared scouting, player development, and data systems to group-wide sponsorship deals.
• Why player trading drives profitability, and how clubs like Lorient and Moreirense fuel Bournemouth’s long-term success.
• The art of finding value: buying clubs with strong DNA and fan culture, not just financial upside
• How Black Knight is using its network to develop talent like Junior Kroupi and accelerate their pathway to the Premier League.
• Why football’s next phase will be defined by structure, not just spending.

Building a Sustainable Premier League Club:

• Inside Bournemouth’s transformation from League Two survival story to Premier League mainstay.
• How a £45m training ground and planned stadium expansion are reshaping the club’s future.
• The economics of player trading, matchday revenue, and sponsorships and what it really costs to compete with England’s elite
  

A huge thank you to our amazing partners on the show: 

David:

Go and check out the amazing products revolutionising the protein bar at https://davidprotein.com

Stryde:

Bringing sports investment opportunities to your door. Visit ⁠http://www.gostryde.com⁠ to become part of the movement!

The celebrity investor coming into football as part of an ownership group is nothing new these days, but there were more than a few eyebrows raised when it was announced that Snoop Dogg, alongside footballing legend Luka Modric, had become a minority investor in Swansea. There must be something in the Welsh water. Swansea is storied club with a hugely passionate fanbase and a recent history of Premier League football and both elite player and manager development. 

Getting to the bottom of what facilitated this high profile involvement is one thing, but CEO Tom Gorringe is facing all the usual challenges of creating an elite playing environment delivering results on the pitch while trying to ensure the business is exceeding expectations to allow the club to spend money and challenge for promotion. 

There are some statistics in here that shocked us, some conditions that have to be taken into account that are unique to this club, but when reflecting on this conversation, this is a team absolutely moving in the right direction. It’s maximisation of financial opportunity without losing your values alongside how we’re still gunning for a Snoop Dogg, Just Eat, Rossi’s collaboration to take place pre game (one for Swansea fans/if you’re not go and google the iconic fish and chip establishment). Let’s get on with it. We’re delighted to welcome Tom to Business of Sport.

Timestamps:

00:00 Intro

03:24 On Staying Open and Connected with Fans

06:53 What Tom’s Job Actually Involves

09:14 How Modric and Snoop Joined the Club

14:54 Death Row Records Deal

18:11 The Power of Celebrity in Football

20:38 The Revenue Drivers

23:01 Content Strategy

25:13 How Communication Works with Multiple Owners

29:56 Lessons from Bristol to Swansea

31:05 Budgeting

35:07 How Loan Deals Are Structured

37:17 How Swansea Supports Players Beyond the Pitch

38:22 Inside the Decision to Appoint Manager

42:09 Ranking Why People Join Swansea

44:41 The Role of Football Regulation Today

47:10 Tom’s Opinion on Parachute Payments

48:24 Is Owning a Club Serious Business or Just Fun?

53:07 Quick-Fire Round

On today’s show we discuss: 

Snoop Dogg, Luka Modric & a New Era for Swansea:

• How one of the most unexpected ownership stories in football came together.

• Why Snoop Dogg and Luka Modric invested in Swansea and how it’s changing the club’s global profile overnight.

• How the club is using celebrity partnerships to drive sponsorship, retail, and brand awareness including a Death Row Records x Swansea collaboration that broke sales records

Authenticity, Community & the Fans:

• Why Swansea’s local identity remains at the heart of everything and why openness with fans is one of Tom’s core principles.

• The balance between commercial growth and staying true to the club’s roots as a working-class, one-club city.

• How fan engagement and local pride are helping rebuild trust and unity across the club

Financial Discipline & Sustainability:

• The economics of a Championship club in 2025. £21.5m turnover, £15m losses, and the battle for sustainability.

• How Tom cut £3.9m in annual costs without harming performance including the famous “dirty windows” moment.

A huge thank you to our amazing partners on the show: 

Stryde

Bringing sports investment opportunities to your door. Visit ⁠http://www.gostryde.com to become part of the movement!

What does women’s football need to do to match men’s? Could it be even bigger? What is currently holding it back? Every so often, we have a chat on this show which pushes beyond the surface of sport. The potential, growth and popularity of women’s football has become a feature of macro conversation for years, but finding someone with the credibility and willingness to say it how it is is not easy.

Meet Bex Smith, former New Zealand Captain, treble winner with Wolfsburg, FIFA Women’s World Cup executive, and now club owner. Having founded Crux Football, a MCO Group looking to build collective value across core assets in the women’s game, she is on a mission to be a key part of unlocking the business and performance success she believes is inevitable in the sport if the right structures are in place to support it. With the recent purchase of their first club Montpellier, the vision is about to become reality; it is not just an ability to affect an individual club but the change that needs to happen across the league and broader ecosystem that will determine true success.

If anyone is going to do it, you’re about to meet her. No statements for the sake of it, no positioning without considered justification. It’s the women’s football show we’ve been waiting for. 

Timestamps:

00:00 Intro

05:38 Why Montpellier Was the Perfect Start

14:04 Building the Right Financial Structure

18:04 The Valuation Problem in Women’s Football

23:35 Why Women’s Football Need To Stop Copying the Men’s Game

34:37 The Challenge of Managing Multiple Clubs

36:47 The Path from Pitch to Boardroom

41:12 Balancing Independence with System Constraints

44:17 What Makes the Women’s Game So Investable

48:20 Would Bex Buy a Club in England Today?

49:14 How Players Drive Engagement and Value

55:41 Why Equal Pay Isn’t the Whole Story

58:22 Managing the Female Athlete’s Body

01:03:53 Quick-Fire Round

On today’s show we discuss: 

Rebuilding the Foundations of Women’s Football:

• Why the European women’s game “doesn’t work” under its current structure 

• Why independence from men’s clubs is essential for real sustainability.

• How governance, league rules, and commercial structures need to evolve to match the women’s game’s unique audience and values.

• Why Bex believes women’s football can and should be bigger than the men’s game.

Building Crux Football & Buying Montpellier:

• Inside the acquisition process of Montpellier and what made it the perfect first club.

• Why the French league is becoming one of Europe’s most investable women’s football markets.

• The operational blueprint behind Crux Football’s multi-club model.

The Power of Storytelling & Icons:

• Why visibility and narrative are key to driving fandom and revenue.

• How the rise of icons like Lucy Bronze, Chloe Kelly, and Megan Rapinoe has reshaped global perceptions of women’s football.

• How Crux Football plans to use storytelling, content, and player-led media to grow audience and commercial value

Athlete Welfare, Data & Performance:

• How to build medical, technical, and performance systems designed for women, not men.

• Why data, analytics, and research are crucial to reducing ACL injuries and improving long-term player development.

• How Crux Football’s performance infrastructure and recruitment strategy will help close the gap in player care and analytics

A huge thank you to our amazing partners on the show: 

David 

Go and check out the amazing products revolutionising the protein bar at https://davidprotein.com

Stryde

Bringing sports investment opportunities to your door. Visit http://www.gostryde.com to become part of the movement!

What is the world of LIV Golf really like? Cutting through all the noise and the image portrayed of a league propped up by PIF money incapable of supporting itself, is there another side? That’s what we take a look at with this week’s guest James Dunkley, Team Principal of Majesticks Golf Club, one of the 13 teams that compete on the tour. 

There is no denying the controversy that LIV caused when it was established, disrupting the world of golf and the established tours, taking some of the biggest stars of the game on big money and changing the format. But going beyond that, and most importantly the short term financial commitments it has required, what is the long term ambition, and how does this model fit into the broader game to co-exist with the sport’s other key organisations and tournaments while also tackling some of golf’s biggest challenges: ageing fanbases, stale formats, financial distribution outside of the top players.

James takes us through the running of a team consisting of huge personalities and profiles like Ian Poulter, Lee Westwood and Henrik Stenson, the importance of creating a winning organisation, and why much of this tour is completely misunderstood by many. I won’t lie this opened my eyes to a side of LIV I hadn’t previously considered or appreciated, and I think it’ll surprise you too. 

Timestamps:

00:00 Intro

04:24 How do the teams work

07:40 Reviving a stale sport

11:00 Building a community & youth programs

13:20 Inside Majesticks GC operations

16:15 Why team golf is so exciting

21:00 Relegation & Recruitment

25:00 Building audience & identity

30:00 Path to profitability

42:44 $1.1 Billion in losses & long-term vision

49:20 LIV's unique fan experience

52:00 How LIV changed the way players compete

On today’s show we discuss: 

Inside the LIV Golf Model:

• How LIV’s $1.1 billion investment is building a long-term global sports property.

• Breaking down the commercial structure: team equity, prize money, sponsorship, and central funding from the PIF.

• How initiatives like Little Sticks are teaching life skills and values to tens of thousands of kids through golf

Media, Broadcast & Growth:

• How LIV Golf secured massive broadcast reach with Fox Sports, ITV, and global partners and why timing is everything.

• The challenge of changing golf’s viewing experience: more shots per hour, better storytelling, and making broadcasts easier to follow.

• Why accessibility, not exclusivity, will define the next era of golf media

The Future of Golf:

• How LIV, the PGA Tour, and the DP World Tour can coexist and why collaboration is key for the health of the sport.

• What the next five years of LIV’s expansion will look like: more team-based events, geographic franchises, and a clearer media presence.

• Why Dunkley believes golf’s “civil war” will give way to a stronger, more connected global game

A huge thank you to our amazing partners on the show: 

Stryde

Bringing sports investment opportunities to your door. Visit http://www.gostryde.com to become part of the movement!

Today, we’re delighted to welcome Pablo Longoria to the show. Pablo is President of french football giant Marseille, marking a welcome venture for us into European football! Make no mistake, this is a huge club steeped in history, the most passionate fans, and a global brand. Managing all of this from a business perspective is a serious job. Then of course add into it the need to create a winning team on the pitch to drive it all, and that is the challenge that faces Pablo.

From scout and technical director to club President, his route to the top is unique in itself. The approach is absolutely ‘results first’. They have compiled a squad with a strong balance of youth and experience, including former Premier League players such as Pierre Emerick-Aubameyang, Pierre-Emile Hojbjurg, and of course Mason Greenwood, whose controversial transfer is covered in this chat as we look at how Marseille are approaching the transfer market. The broader challenges for the club extend into the chaotic media landscape of french football and the challenge with competing against the biggest and established leagues with less financial clout. 

Deep insight into top top level football is not abundant. This is a fascinating reveal of what is takes to run one European football’s most iconic organisations. 

Timestamps:

00:00 Intro

05:01 Pablo Longoria’s Path to Football Executive

08:18 Joining Olympique de Marseille

10:12 The State of Marseille When Pablo Arrived

11:37 Revenues: Ticketing, Security, Food & Beverage

20:19 How On-Pitch Success Drives Business Growth

21:56 Pablo’s Role in Player Recruitment

24:52 What People Get Wrong About Football Managers

28:41 Football Director vs Manager: What’s the Difference?

29:42 Managing Transfer Market Inflation

39:33 How Fans Influence Transfer Strategy

43:29 Learning from Transfer Mistakes

45:45 Where Marseille Fits in the Football Pyramid

49:22 Inside France’s Evolving Media Rights Landscape

53:53 The Competitive Imbalance in French Football

55:09 How CVC’s Investment Impacts French Clubs

56:37 Winning vs Profitability Under U.S. Ownership

01:01:26 The Concentration of Value in Top Leagues

01:07:18 Underinvestment in Technology Across Sport

01:10:49 Where Marseille Aims to Be in Five Years

On today’s show we discuss: 

The Business of Modern Football:

• How Pablo is leading one of Europe’s biggest clubs through the most challenging media landscape in decades.

• Why Champions League qualification changes the balance sheet by up to 40%, and how to plan when your core revenue can fluctuate by €80 million.

• How Marseille balances community accessibility, with tickets as low as €12, against the commercial pressures of competing at Europe’s top table

Building for the Long Term:

• Why sporting performance is the engine behind every revenue stream.

• The psychology of team-building and Pablo’s “building-floor” theory explaining why some players succeed and others fail.

• How De Zerbi’s arrival marked a turning point for Marseille and what true alignment between coach, sporting director and CEO looks like

The Media Rights Revolution:

• What the collapse of French TV rights means for clubs across Ligue 1.

• What leagues can learn from the Premier League’s ability to globalise its product

Transfers & the Future of Football:

• Why Marseille’s recruitment strategy focuses on age profiles others overlook and how to find value.

• Why he believes football must evolve from a “sports industry” to an “entertainment industry” to survive the next decade

  A huge thank you to our amazing partners on the show: 

  David 

  Go and check out the amazing products revolutionising the protein bar at https://davidprotein.com

  Stryde

  Bringing sports investment opportunities to your door. Visit http://www.gostryde.com to become part of the movement!

  
  

Today, we’re delighted to welcome Richard Coleman to the show. Alongside one of our favourite previous guests Mr Guenther Steiner, Richard is the new co-owner and Team Principal of MotoGP team Tech3. This sport has had some big headlines since Liberty’s $4.9bn acquisition went through earlier this year. As the infamous owners of F1 who have played a major role in re-inventing the sport and making it one of the most popular and marketable entertainment products on the planet, it’s not hard to understand why the buzz has now spread to asking what it is that Liberty can do with MotoGP; a hugely popular and successful motorsport, but one that doesn’t have the global reach or brand power F1 has enjoyed. 

In a world of massively inflating sports assets prices and the clamour for good deals and unique opportunities, do these racing teams present some of the most exciting sports business opportunities on the market? The parallels to F1 are obvious, but this is also very much a property with its own values, diehard fans, and a plan to capture the audience in a way that differentiates itself from four wheel racing. This a look at the big business of MotoGP and the big potential of Tech3. 

Timestamps:

00:00 Intro

03:50 Liberty Media’s $4.9B MotoGP Takeover

10:04 Why MotoGP Is Undervalued

16:23 Can MotoGP Fix Its Competitive Imbalance?

20:02 How to Run a MotoGP Team Sustainably

22:38 How MotoGP Teams Make Money

26:52 The New Wave of Sponsors in MotoGP

29:12 How MotoGP Can Create Global Superstars

35:10 Can MotoGP Grow Without Losing Its Core Fans?

42:47 The Core Risks Behind Investing in MotoGP

46:09 Inside The Media Rights Structure

47:45 The Attention Economy & Youth in Motorsport

51:56 What Makes The Best Riders?

52:42 Why Riding a Bike Is Harder Than Driving an F1 Car

54:00 Health & Safety in MotoGP

01:00:29 Quick-Fire Round

On today’s show we discuss: 

1. The Business of MotoGP:

• How the $4.9bn Liberty Media acquisition has transformed the outlook for MotoGP and why the new owners are betting they can replicate the Formula One boom.

• What this means for valuations across the grid, and how teams like Tech3 are transitioning from racing outfits into full-scale businesses and global entertainment brands.

• Why Richard believes MotoGP is one of the most undervalued sports assets in the world today.

2. Inside the Tech3 Acquisition:

• The story behind Richard and Guenther Steiner’s joint purchase of the Red Bull KTM Tech3 team.

• The financial realities of running a race team: from start-money payments to manufacturer support and sponsorship structures.

• Why the goal isn’t just to compete on track, but to build a sustainable commercial operation behind it

3. Building Global Reach:

• Why the sport must expand beyond Southern Europe to truly go global and the opportunities and risks that come with it.

• How MotoGP can attract younger and more diverse audiences, develop riders from new regions, and create stars with global recognition.

• The importance of telling the human stories. The “gladiators of the modern age” risking everything on two wheels

4. Safety, Technology & the Human Element:

• How MotoGP is balancing spectacle with safety through better circuits, tech innovations, and airbag suits.

• Why confidence, courage, and connection matter as much as engineering and how the sport can make its heroes household name

• The unseen dangers of racing at 230+ mph and the deep bond between riders and their crews.

A huge thank you to our amazing partners on the show: 

Stryde

Bringing sports investment opportunities to your door. Visit http://www.gostryde.com to become part of the movement!

This week we’re delighted to welcome Graeme Le Saux to the show. A Chelsea, Blackburn and England icon, Graeme played over 500 club games, 327 of them in the Premier League, as well as 36 caps for England. There was more than enough in here to just enjoy some unparalleled sporting nostalgia, from Blackburn’s insane Premier League title to playing in the infamous David Beckham red card match at the 1998 World Cup. 

But you know that’s not our style; what Graeme brings to this conversation is both a reflection on his experiences handling the turbulent world of a footballer alongside the more macro issues facing the game. He did have a different background, different interests, and unique way of approaching the celebrity that comes with football. Having been a record transfer for a defender when he moved to Chelsea for £5.5m in 1997, he also gets what it is to play with expectation and pressure that can humanise players we fans often treat as emotionless machines.

It touches on many of the key points we always look to build on, from asset inflation and club overspending to the responsibility of player education. A special player with a special outlook on both football and life as a top level athlete…and as you’ll no doubt lock onto he brought a big dose of humour to accompany it. 

Timestamps:

00:00 Intro

05:28 How the PL Has Changed Since Graeme Played

09:25 The Reality of Changing Teams

13:08 Is It the Club’s Fault When Talent Leaves for Free?

14:36 Are Players Now More Valuable Than Clubs?

16:33 How Signing-On Fees Change Transfers

24:22 Are Football Clubs Passion Projects or Investments?

26:47 How Big Was Abramovich’s Arrival in the Dressing Room?

29:56 Thinking About Finances While Playing

43:26 Why Many Players Struggle Financially After Football

51:01 If I Could Change One Game

54:43 The Added Pressure of Social Media on Players

59:23 What It’s Like Covering the Premier League in America

01:00:39 The Future of MLS

01:05:15 Quick-Fire Round

In Today's Episode We Discuss:

1. Life at the Start of the Premier League:

• What it was like to play before and after the birth of the Premier League.

• How TV money and sponsorship transformed football into the global powerhouse it is today.

• The pressure of record transfer fees and why Graeme struggled at first to justify being Britain’s most expensive defender

2. Transfers, Contracts & the Media:

• How moving clubs is about more than football, from dressing-room dynamics to family upheaval.

• The realities of modern contracts, signing-on fees, and bonuses.

• Why players today hold more power than ever, and what that means for clubs facing Bosman deals and free transfers

• How social media has changed the scrutiny players face, both positively and negatively.

3. Blackburn’s Title & Chelsea’s Rebirth:

• Inside the story of Blackburn’s Premier League win and why money alone wasn’t the reason for their success.

• What really happened in the final days before Roman Abramovich bought Chelsea and how one game against Liverpool effectively saved the club from administration.

• Why investment can change a club’s fortunes but only if combined with identity, culture, and the right management.

4. Education, Identity & Life After Football:

• Why Graeme refused to conform in the dressing room and why he’s proud he stuck to his values even when it made life harder.

• The importance of education and broader interests for young players, and why football needs to do more to support life beyond the pitch.

• The shock of retirement, coping with irrelevance, and why building purpose and relationships off the field is essential.

• A huge thank you to our amazing partners on the show:

  Stryde

  Bringing sports investment opportunities to your door. Visit ⁠https://www.gostryde.com/ to become part of the movement!

  
  

When we recorded this show the day before James flew out to Baku, we did not expect Williams to be up on the podium delivering in real life what James was theoretically describing to us on the show. Podiums are of course part of the development plan, but not yet.

When James came to see us at Business of Sport HQ last week, we talked through both what he has done to position the team for future success, and what he still needs to do. In a sport that requires so many minds pulling together, utilising a vast array of talents, the prospect of building what is popularly termed as ‘winning culture’ could seem daunting; where do you even start? For James, it was recognising that even in a sport of technology and science, people and culture are what makes you win. 

This weekend’s result would place Williams ahead of where James has set expectations. But don’t get me wrong, this result in Baku will have been celebrated in the halls of Grove, because no matter how long term the strategy for success is, these wins you pick up on the way are integral to showing the team that what they’re doing is on the right path, and from James’ perspective (though he’d never look at it like this) that he’s the man to deliver for them. This is James Vowles on the business of Williams and F1…and a taste of what’s to come.

Timestamps:

00:00 Intro

03:54 Rebuilding Williams Through Culture

07:18 Balancing Past Success with a New Identity

10:54 Williams’ Long-Term Plan for Success

17:31 What Vowles Brings to Sainz & Albon

22:35 Can Money Alone Deliver F1 Success?

25:22 Does Losing Money Matter in F1 Ownership?

28:23 Turning Heavy Investment Into Performance

30:45 Williams’ New Revenue Streams

34:25 How Teams Compete for the Same Sponsors

37:37 Will Formula 1 Control Its Own Platform

41:30 Overcoming Challenges as a New Team Principal

46:10 The Mediafication of F1 Leadership

47:30 Quick-Fire Round

In Today's Episode We Discuss:

1. Rebuilding Williams from the Ground Up:

• Why James left the comfort of Mercedes to take on the challenge of reviving one of Formula One’s most historic but struggling teams.

• How he discovered Williams was “a bankrupt organisation” on arrival and why he likens it to running a 50-year-old startup.

• The long-term plan to make Williams both competitive and profitable again by 2028, balancing heavy investment with financial discipline

• How James is instilling accountability, long-term thinking, and a “break everything” mindset to push the team beyond survival.

  
  

2. The Culture of Performance:

• The importance of ego-free leadership from drivers like Alex Albon and Carlos Sainz in shaping a winning environment

• The real split between car and driver performance and why drivers remain the best “sensors” for development.

• What James learned from working with Schumacher, Rosberg, and Hamilton, and how those lessons are applied to Albon and Sainz today.

• Why humility, confidence, and resilience separate the very best drivers from the rest

  
  

3. The Business of F1:

• The realities of cost caps, sponsorship, and commercial growth in modern F1.

• Why Williams’ sponsorship strategy is about authentic partnerships, not stickers on a car and how deals like Atlassian reflect the team’s values.

• James’ candid view on asset values, media rights, and how F1 must evolve its broadcasting model to engage younger fans

  
  

4. The Future of the Sport:

• Why two-day race weekends could be the future, and how unpredictability makes F1 compelling.

• His view on an 11th team, the balance of tradition versus innovation, and how Netflix and Drive to Survive changed the sport’s global appeal.

• What excites him most about the years ahead: leaving a lasting legacy at Williams and returning the team to the front of the grid.

  
  

  A huge thank you to our amazing partners on the show:

  Stryde

  Bringing sports investment opportunities to your door. Visit www.gostryde.com to become part of the movement!