Toto Wolff is Team Principal & CEO of the Mercedes-AMG PETRONAS Formula 1 Team. In addition to broader responsibilities as Head of Mercedes-Benz Motorsport, Wolff also owns a 33% equity stake in the Formula 1 team, valued at approximately $2 billion. During our conversation last week at the Motorsport Network conference in New York City, Toto and I discussed a wide range of topics, including the team's 2026 driver lineup, how he knew Kimi Antonelli was ready for F1 at 18 years old, why the team built a $2.7 million hypercar, the new F1 movie with Brad Pitt, why he initially turned down Drive to Survive, and the team's record $161 million in profit last year. Enjoy!

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From charter planes to tax exemptions, today's podcast breaks down how the NFL’s London operation really works (and why the Jaguars are the league’s biggest winner overseas).

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NFL players say turf fields are dangerous. Owners say they’re profitable. Today's podcast breaks down the billion-dollar math that keeps plastic fields in America’s biggest stadiums.

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Today's podcast takes you inside McLaren's financial playbook: $712 million in revenue, 1,283 employees, private jet bills, and heritage car refurbishments.

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Today's interview features Peter Jackson, CEO of Flutter Entertainment. As CEO of Flutter, Peter oversees FanDuel in the United States, as well as several of the top sportsbooks in the U.K., Ireland, Australia, Brazil, and parts of Europe and Africa. These businesses collectively generate over $14 billion in annual revenue and serve nearly 14 million customers each month.

Peter and I spent 35 minutes discussing the most important topics — including customer acquisition costs, the growth of iGaming, margin expansion, the potential size of the American market at maturity, the future of prediction markets, and more.

Peter provided a ton of great insights, and I think you’ll really enjoy our conversation. After all, it’s not every day that you get to interview the CEO of a $50 billion business!

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Roger Federer’s net worth officially crossed $1 billion earlier this year, according to Forbes. That makes the 20-time Grand Slam winner one of just seven athletes to have reached the three-comma club, joining Michael Jordan, Magic Johnson, LeBron James, Junior Bridgeman, Tiger Woods, and Romanian tennis player Ion Tiriac.

Most of Federer’s net worth was generated through sponsorship deals with companies like Nike, Rolex, Mercedes-Benz, and Uniqlo, as well as a minority stake in the publicly traded Swiss shoe and apparel brand On, which is valued at $375 million.

But every sports fan knows this information. What you may not know is that Federer’s agent, Tony Godsick, is the one who made it happen. After becoming Federer’s agent 20 years ago, Godsick negotiated deals collectively worth hundreds of millions of dollars. In fact, Godsick was the one who helped architect Federer’s departure from Nike, landing deals with Uniqlo and On that are now valued at more than $1 billion.

While attending the Laver Cup in San Francisco this past weekend, I had the opportunity to interview Godsick. We talk about his journey with Federer, the real story behind why Nike decided to move on from the tennis legend, and the growth of the Laver Cup — a Ryder Cup-style tournament co-founded by Federer and Godsick.

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Ticket prices are skyrocketing, luxury suites are multiplying, and longtime fans are getting squeezed. Today's podcast explains why the US Open’s future might look nothing like its past.

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Sports teams are dropping concession prices by 50%. But team owners aren't just doing this to enhance the fan experience. The math also makes financial sense.

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The Chicago Bears have officially ditched their downtown stadium design to build an indoor stadium 25 miles north of the city in Arlington Heights. The Bears say the $2.5 billion project will be entirely privately funded, but that doesn't mean it will be a bad deal. The team is likely to generate more than $1 billion in revenue before the stadium even opens, primarily through the sale of PSLs, luxury suites, and naming rights. Today's podcast breaks down all the details.

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Today's episode is a conversation I recently recorded with fellow Substack writer Ethan Strauss on his live show Random Offense. We spent an entire hour dissecting every angle of the Kawhi Leonard-Steve Ballmer-Los Angeles Clippers cap circumvention story. This is one of the biggest NBA scandals of the last several decades, and there is plenty to discuss and debate. Enjoy!

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