Richard paints a complex picture with no simple answers on where sports media is headed. If broadcast declines, how will leagues replace those revenues? Betting, subscriptions, something else? The future business models remain a huge open question.

Fans are frustrated. Sports leagues take heed.

Richard paints a concerning picture of fans turning to piracy out of irritation with the fractured, complex and expensive options for watching sports today. The Premier League and others can't afford to ignore this Napster moment. Give us what we want - easy, affordable access - or lose us forever.

Bet big on betting.

Sports execs need to move gambling out of the shadows. Betting dollars may quietly end up propping the whole business model as broadcast declines. Time to have an honest conversation and smart strategy around it. Just look at potential giants like Dream11 waiting in the wings in India.

Hello? Is this thing on?

Cricket, tennis, golf - the old guard are facing a relevance crisis. Coasting on historical prestige won't cut it with younger diverse audiences who have infinite choice on how to spend their time. Marketing can no longer be an afterthought - it may make or break the future of these sports.

Frenemies with benefits.

Forget going it alone. Maria Rua Aguete stated it clear - the winners will be those with the most friends and partnerships. Egos aside, sports needs to get comfortable with frenemies and build a web of mutually beneficial relationships. It's an ecosystem, not a zero-sum game.

Richard seems in any case to believe that the English Premier League is for now what we can call a winner on the sport side.