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Ben Curtis is Global Brand Vice President of Sure/Rexona at Unilever, and is just back the US where he ran the brand's first-ever Men's World Cup as a FIFA official partner. He came on Unofficial Partner before the tournament to talk about what he was walking into; this is the debrief — what worked, what didn't, and what a global personal-care brand actually gets for the money, from the armpit branding on the fourth official's board (a Rexona first at a World Cup) to the New York activation built around creators rather than TV spots.
Joining him is Mayowa Quadri, head of brand at the football-and-culture publisher Versus, a creator and consultant who worked on Rexona's campaign from the other side of the table.
What does a global brand actually get for a World Cup sponsorship? Ben breaks down how Rexona measured return in near-real time — from brand mentions, to creator content earning 10x that, to cultural moments running into the millions of engagements — and where the brand ranked against Adidas and Coca-Cola.
Was the fourth-official armpit branding a gimmick or a strategy? The Rexona sign held up at every substitution was a World Cup first. Ben argues it's a durable strategic position rather than a one-off joke; Richard presses on whether the idea has legs beyond its novelty.
How much of the marketing budget now goes to creators rather than TV? Ben's answer is the headline number: a decisive swing away from traditional advertising in the space of a single World Cup cycle.
Has the way we consume a World Cup fundamentally changed? Mayowa on clip culture, the Americanisation of the tournament, and a younger audience watching through creators and streamers rather than buying broadcast packages — and why broadcasters are now behaving like creators themselves.
What makes a brand-creator relationship work, and when does it fail? Both sides on the shift from prescriptive deliverables to briefing intent, the trust a brand has to extend, and the fast route to losing an audience by looking like you've sold out.
Is football still a sport, or is it now a culture? Mayowa's case that the footballer is a human being with interests beyond the 90 minutes — and how brands are buying into fashion, music and identity rather than match results.
What is the media agency actually for now? How Unilever identifies communities and maps creators against them, the rise of nano-creators as word-of-mouth amplifiers, and why the direct brand-to-creator connection still matters.
Can the controversies around FIFA stay 'priced in'? With Infantino in the headlines, whether the noise around the governing body touches the sponsors who fund it — and Mayowa's argument that player power, not sponsor pressure, is the variable that could actually move things.
Unofficial Partner is the leading podcast for the business of sport. A mix of entertaining and thought provoking conversations with a who's who of the global industry.
To join our community of listeners, sign up to the weekly UP Newsletter and follow us on Twitter and TikTok at @UnofficialPartner
We publish two podcasts each week, on Tuesday and Friday.
These are deep conversations with smart people from inside and outside sport.
Our entire back catalogue of 500 sports business conversations are available free of charge here.
Each pod is available by searching for ‘Unofficial Partner’ on Apple, Spotify and every podcast app.
If you’re interested in collaborating with Unofficial Partner to create one-off podcasts or series and live events, you can reach us via the website.
A conversation recorded at the recent SportsPro Investment Summit, bringing together two very different investors: Andrea Radrizzani, media entrepreneur and former Leeds United owner, and Alistair Brownlee OBE, double Olympic triathlon champion turned investor. The through-line is what actually makes a sports asset worth owning — and where the value really resides.
Leeds United and the weight of history. Radrizzani reflects on the Bielsa era, the club's identity as the sole footballing focus of a proud Northern city, and the burden of expectation rooted in the 2004 Champions League semi-final side (then the sixth-biggest club in world football on £90m revenue). Brownlee, a lifelong Leeds fan, adds the fan's perspective — pride and connection to the city matter as much as trophies.
Turnaround clubs vs. trophy assets. Radrizzani's core investment lens: the difference between a turnaround play like Leeds (high appreciation, but one relegation can wipe out value) and buying a top club, now the preserve of sovereign wealth funds and private equity. Football as a luxury/brand asset that appreciates like real estate (the PSG example), but where capital cushions mistakes that a smaller club cannot afford. Relegation as a genuine financial cliff-edge.
The new generation of sport and the media-rights problem. Why Super Tri, PTO/T100 and others built on media-rights revenue have pivoted toward mass participation. Only premium rights are growing; the rest is flat or declining. The value of affluent, avid participant communities over passive viewers.
Mass participation economics and the HYROX model. Buying a hardcore, high-spending community; defining who your true fans are and how much more they'll pay. The customer-acquisition-cost vs. lifetime-value case, and the adjacent-business boom (apparel, nutrition, training, sports tourism). The open question: consumers now hop between HYROX, Ironman and marathons rather than staying loyal to one ecosystem — and Ironman's acquisition strategy as a response.
Owning the ecosystem. Radrizzani's thesis that value lies not in any single point but in connecting the dots across a vertical.
Athletes on the cap table. What a famous name is actually worth to a company. Consumer cynicism toward over-endorsing stars (the Neymar/Ronaldo "promiscuity" problem), the premium on authenticity and genuine expertise, and the shift from passive sponsorship fees to equity stakes that drive real ROI. David Beckham cited as the model done well.
Brownlee's path from athlete to investor. The solitary, self-reliant nature of individual-sport careers, and how he built an investment practice alongside competing.
How much athletes should earn. The 55% wage-to-revenue sustainability benchmark (and Leeds' notorious 120%). Salary caps as what makes US leagues attractive asset classes. The IOC's position on not paying athletes directly. Why economic incentives alone fail to lure athletes to new leagues — Olympic qualification and heritage tournaments still outweigh money.
Private equity moving down the value chain. PE consolidating athlete and football agencies to capture player earnings; players themselves becoming more sophisticated investors (the Courtois family-office example).
Concentration, unionisation and league design. "Big get bigger" dynamics, UFC-style overpayment at the top, gig-economy pressures on the athlete pyramid, and the collective-bargaining logic of leagues vs. the pure capitalism of boxing.
LIV Golf's lessons and what's next. LIV as an early iteration of these themes, the surprising strength of the incumbent (PGA Tour) and heritage/"playing for the shirt," and a look ahead to NBA Europe and how it collides with basketball's existing strongholds. Radrizzani closes on nearly buying a London basketball franchise a decade ago — and why football and media remain his real passion.
Unofficial Partner is the leading podcast for the business of sport. A mix of entertaining and thought provoking conversations with a who's who of the global industry.
To join our community of listeners, sign up to the weekly UP Newsletter and follow us on Twitter and TikTok at @UnofficialPartner
We publish two podcasts each week, on Tuesday and Friday.
These are deep conversations with smart people from inside and outside sport.
Our entire back catalogue of 500 sports business conversations are available free of charge here.
Each pod is available by searching for ‘Unofficial Partner’ on Apple, Spotify and every podcast app.
If you’re interested in collaborating with Unofficial Partner to create one-off podcasts or series and live events, you can reach us via the website.
Dan Jamieson secured exclusive rights for Jude Bellingham the week before the FIFA World Cup. The ICONS CEO takes us inside the complex world sporting memorabilia, where fame, fans and intellectual property collide.
The Bellingham bet — talent-spotting as a business model
The rights stack — why one player requires three deals
"Official, authentic, exclusive" — the three buzzwords
Triple Lock — authentication as the core moat
Retailtainment — the media/retail convergence
Fanatics — the elephant, as platform and as frenemy
The trading-card vs. memorabilia distinction — two different markets
NFTs — the dog that didn't bark
The supply-chain reality — where the money actually gets made and stuck
The through-line question — what is a media outlet now?
Unofficial Partner is the leading podcast for the business of sport. A mix of entertaining and thought provoking conversations with a who's who of the global industry.
To join our community of listeners, sign up to the weekly UP Newsletter and follow us on Twitter and TikTok at @UnofficialPartner
We publish two podcasts each week, on Tuesday and Friday.
These are deep conversations with smart people from inside and outside sport.
Our entire back catalogue of 500 sports business conversations are available free of charge here.
Each pod is available by searching for ‘Unofficial Partner’ on Apple, Spotify and every podcast app.
If you’re interested in collaborating with Unofficial Partner to create one-off podcasts or series and live events, you can reach us via the website.
The Bundle with Yannick Ramcke of OneFootball and Murray Barnett of West26 Sport.
Agenda:
1. The Commercialisation of the Hydration Break
2. Did the Ratings Success Change US Football Broadcasting?
3. Sky's £1.6bn ITV Takeover: The Return of the Full-Funnel Broadcaster
4. Is the Sports Doc Gold Rush Over?
5. DAZN's A$5.3bn NRL Bet
Cross-cutting threads
The Unofficial Partner Scholarship - Applications Now Open for the Institute of Sports Humanities (ISH)
🎓 Five 50% scholarship places are available for Unofficial Partner applicants in the upcoming Strategic Sport Leadership MA cohort, in September.
The Unofficial Partner Scholarship is designed to support ambitious sport industry professionals.
Please contact Emma Rota at [email protected] to learn more and secure your place in the September cohort.
Unofficial Partner is the leading podcast for the business of sport. A mix of entertaining and thought provoking conversations with a who's who of the global industry.
To join our community of listeners, sign up to the weekly UP Newsletter and follow us on Twitter and TikTok at @UnofficialPartner
We publish two podcasts each week, on Tuesday and Friday.
These are deep conversations with smart people from inside and outside sport.
Our entire back catalogue of 500 sports business conversations are available free of charge here.
Each pod is available by searching for ‘Unofficial Partner’ on Apple, Spotify and every podcast app.
If you’re interested in collaborating with Unofficial Partner to create one-off podcasts or series and live events, you can reach us via the website.
The Two Circles Sports IP Revenue League 2026 is full of numbers. The headline is that sports IP is worth $174billion. But the story is more interesting and nuanced than that.
Richard went to the agency's offices in Holborn to hold the report up to the light.
Joining him is Gareth Balch, CEO of Two Circles, and Charlie Dewhurst, Chief Commercial Officer of SailGP — the race sailing property founded by Larry Ellison of Oracle fame.
Who's in, who's out and why should you care?
Unofficial Partner is the leading podcast for the business of sport. A mix of entertaining and thought provoking conversations with a who's who of the global industry.
To join our community of listeners, sign up to the weekly UP Newsletter and follow us on Twitter and TikTok at @UnofficialPartner
We publish two podcasts each week, on Tuesday and Friday.
These are deep conversations with smart people from inside and outside sport.
Our entire back catalogue of 500 sports business conversations are available free of charge here.
Each pod is available by searching for ‘Unofficial Partner’ on Apple, Spotify and every podcast app.
If you’re interested in collaborating with Unofficial Partner to create one-off podcasts or series and live events, you can reach us via the website.
Today's guest Adam Kelly has been at IMG since 2001, connecting the business back almost to the McCormack era. Now President of IMG within TKO Group — which also owns UFC and WWE — he oversees IMG's media rights, production, digital, brand partnerships, and events businesses. This is his second appearance on Unofficial Partner; the first was in 2022, when he laid out a vision for reimagining IMG as a full-service growth partner rather than a transactional rights broker.
Episode Summary
Recorded during the 2026 FIFA World Cup, this conversation uses the tournament as a launchpad for a broader argument about where sport sits commercially in 2026. Kelly's central thesis is that the entry of global streaming and technology platforms — Netflix, Apple, Google, Amazon — is the single most important shift in the sports media landscape, and that it is unambiguously good for sport. Richard pushes back throughout: on the financial extraction argument, on the volume fallacy, on whether global streaming actually serves the kinds of sports that real fans love. It's a genuinely spiky conversation.
This episode of Unofficial Partner is sponsored by The Institute of Sports Humanities (ISH)
ISH educates sport’s current and future leaders around the world, as the leading independent provider of sports leadership education and insight.
Their Strategic Sport Leadership Masters (MA) is for sports industry executives to study alongside their careers – designed for professionals who want to build on their experience, strengthen strategic thinking, and connect with a global network of peers working across sport.
Applications for the next intake on the 2026 Strategic Sport Leadership MA, starting September, are open.
Visit sportshumanities.org for more information
Unofficial Partner is the leading podcast for the business of sport. A mix of entertaining and thought provoking conversations with a who's who of the global industry.
To join our community of listeners, sign up to the weekly UP Newsletter and follow us on Twitter and TikTok at @UnofficialPartner
We publish two podcasts each week, on Tuesday and Friday.
These are deep conversations with smart people from inside and outside sport.
Our entire back catalogue of 500 sports business conversations are available free of charge here.
Each pod is available by searching for ‘Unofficial Partner’ on Apple, Spotify and every podcast app.
If you’re interested in collaborating with Unofficial Partner to create one-off podcasts or series and live events, you can reach us via the website.
FIFA will make $13bn from the four-year cycle culminating in this summer's tournament — nearly $9bn of it landing this year alone. For comparison, the Paris 2024 Olympics, the other Greatest Show on Earth, generated $5.24bn. Total. For the whole Games.
It wasn't always this lopsided. The World Cup actually trailed the Olympics financially until 2010, when South Africa's edition pulled in $4.19bn against London 2012's $3.23bn. Since then the gap has only widened: 18% revenue growth from Russia 2018 to Qatar 2022, and FIFA is projecting another 73% jump by the end of this summer. They've already raised the budget for the next cycle to $14bn — before this tournament has even finished.
So this episode isn't really about football. It's about how a governing body turned a month of matches into the most lucrative event in the history of sport — and how that changes our relationship with the World Cup.
My guests are Joey D'Urso, Times journalist and author of More Than A Shirt, and Carla Bilche of Off-Ball Logic, who's spent months tracing the commercial history of the World Cup to understand exactly how we got here. Carla has a name for it: "revenuemaxxing." Once you hear the numbers, the word makes total sense.
This episode is sponsored by the Institute of Sports Humanities (ISH)
ISH educates sport’s current and future leaders around the world, as the leading independent provider of sports leadership education and insight.
Their Strategic Sport Leadership Masters (MA) is for sports industry executives to study alongside their careers – designed for professionals who want to build on their experience, strengthen strategic thinking, and connect with a global network of peers working across sport.
Applications for the next intake on the 2026 Strategic Sport Leadership MA, starting September, are open.
Visit sportshumanities.org for more information
Unofficial Partner is the leading podcast for the business of sport. A mix of entertaining and thought provoking conversations with a who's who of the global industry.
To join our community of listeners, sign up to the weekly UP Newsletter and follow us on Twitter and TikTok at @UnofficialPartner
We publish two podcasts each week, on Tuesday and Friday.
These are deep conversations with smart people from inside and outside sport.
Our entire back catalogue of 500 sports business conversations are available free of charge here.
Each pod is available by searching for ‘Unofficial Partner’ on Apple, Spotify and every podcast app.
If you’re interested in collaborating with Unofficial Partner to create one-off podcasts or series and live events, you can reach us via the website.
Host: Richard Gillis (Unofficial Partner) Co-host/analyst: Andy Shora (TFG Labs)
Three stories this episode:
Unofficial Partner is the leading podcast for the business of sport. A mix of entertaining and thought provoking conversations with a who's who of the global industry.
To join our community of listeners, sign up to the weekly UP Newsletter and follow us on Twitter and TikTok at @UnofficialPartner
We publish two podcasts each week, on Tuesday and Friday.
These are deep conversations with smart people from inside and outside sport.
Our entire back catalogue of 500 sports business conversations are available free of charge here.
Each pod is available by searching for ‘Unofficial Partner’ on Apple, Spotify and every podcast app.
If you’re interested in collaborating with Unofficial Partner to create one-off podcasts or series and live events, you can reach us via the website.
AI commoditises knowledge production and throws judgment into scarcity. In this episode, Ed Smith asks what that means for sport, education and the people building careers in the business — and why the humanities might be the most undervalued edge in an age of machines.
About the guest
Ed Smith is an unusual hybrid in today's sports world. An academic, he left Cambridge with a Double First in History, and is the author of several excellent books including Luck, Making Decisions and What Sport Tells Us About Life. He served as Chief Selector for England men's cricket from 2018 to 2021, and is the current President of the MCC. In 2019 he co-founded the Institute of Sports Humanities, which offers the Strategic Sport Leadership Master's — a programme designed for ambitious sports industry executives looking to accelerate their careers while continuing to work. Applications for the next cohort, starting at the end of September, are now open: sportshumanities.org
What we cover
People, books & ideas referenced
Unofficial Partner is the leading podcast for the business of sport. A mix of entertaining and thought provoking conversations with a who's who of the global industry.
To join our community of listeners, sign up to the weekly UP Newsletter and follow us on Twitter and TikTok at @UnofficialPartner
We publish two podcasts each week, on Tuesday and Friday.
These are deep conversations with smart people from inside and outside sport.
Our entire back catalogue of 500 sports business conversations are available free of charge here.
Each pod is available by searching for ‘Unofficial Partner’ on Apple, Spotify and every podcast app.
If you’re interested in collaborating with Unofficial Partner to create one-off podcasts or series and live events, you can reach us via the website.
Jonathan Licht, Chief Sports Officer at Sky Sports, discusses Sky's dominant position in UK sports broadcasting, strategic partnerships, and the future of sports media.
Key topics:
This podcast is sponsored by The Institute of Sports Humanities (ISH)
ISH educates sport’s current and future leaders around the world, as the leading independent provider of sports leadership education and insight.
Their Strategic Sport Leadership Masters (MA) is for sports industry executives to study alongside their careers – designed for professionals who want to build on their experience, strengthen strategic thinking, and connect with a global network of peers working across sport.
Applications for the next intake on the 2026 Strategic Sport Leadership MA, starting September, are open.
Visit sportshumanities.org for more information
Unofficial Partner is the leading podcast for the business of sport. A mix of entertaining and thought provoking conversations with a who's who of the global industry.
To join our community of listeners, sign up to the weekly UP Newsletter and follow us on Twitter and TikTok at @UnofficialPartner
We publish two podcasts each week, on Tuesday and Friday.
These are deep conversations with smart people from inside and outside sport.
Our entire back catalogue of 500 sports business conversations are available free of charge here.
Each pod is available by searching for ‘Unofficial Partner’ on Apple, Spotify and every podcast app.
If you’re interested in collaborating with Unofficial Partner to create one-off podcasts or series and live events, you can reach us via the website.
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