Berkida Podcast
In this episode of Berkida Ventures Podcast, host Massimo Marinelli [https://www.linkedin.com/in/massimo-marinelli-803274/] speaks with Michael Broughton [https://www.linkedin.com/in/michaelcbroughton/], Co-Founder & Partner at Sports Investment Partners [https://www.linkedin.com/company/sports-investment-partners/], former Senior Advisor at FIFA, Advisor to Recast, APEX, Krause House DAO, and Founding Member of Mercury 13, and an experienced investor and advisor across the global sports industry. The conversation explores the structural disconnect between governance and operations in sport, how investors should think about financial realities, and why infrastructure and women’s sports are emerging as key areas of opportunity. Michael also shares insights on ownership models, institutional capital entering the space, and the long-term structural shifts that could reshape the sports ecosystem. Key Takeaways: * Governance in sports functions more like a political system than a traditional business structure * Investors often misunderstand fan dynamics and the true financial drivers of sports organisations * Stadium infrastructure and surrounding real estate are becoming central to value creation * Women’s sports present high-growth, startup-like opportunities but require different KPIs * Institutional capital is reshaping sports, but rising debt and the cost of capital pose risks Noteworthy Quotes: * “Governance in sport is effectively a political organisation seeking re-election.” * “The fan is not the primary stakeholder at the governance level.” * “If you deliver success on the pitch, fans will forgive almost everything.” * “Women’s football is the same game, but a different product.” * “Every empire falls, the question is which one, and when.” Key Timestamps: 00:00 - Introduction and Michael Broughton’s background 02:24 - Governance vs. day-to-day operations in sport 05:35 - The Super League and control of competitions 07:15 - Investor misconceptions in sports 11:34 - Player unions and financial sustainability 12:53 - Ownership models and governance approaches 15:57 - Stadium infrastructure and real estate strategy 21:00 - Investment case for women’s sports 26:45 - Sports as an asset class and institutional capital 31:09 - Future risks, bankruptcies, and structural shifts 33:18 - New formats, esports, and evolving fan behaviour 34:47 - Closing thoughts Connect with the Guest, Michael Broughton: * Michael Broughton LinkedIn: https://www.linkedin.com/in/michaelcbroughton/ [https://www.linkedin.com/in/michaelcbroughton/] * Sports Investment Partners LinkedIn: https://www.linkedin.com/company/sports-investment-partners/ [https://www.linkedin.com/company/sports-investment-partners/] Connect with the Host, Massimo Marinelli: * LinkedIn: https://www.linkedin.com/in/massimo-marinelli-803274/ [https://www.linkedin.com/in/massimo-marinelli-803274/] Follow Halford Media Advisory: * LinkedIn: https://www.linkedin.com/company/halford-media-advisory/ [https://www.linkedin.com/company/halford-media-advisory/] * Website: https://www.halfordmediaadvisory.com/ [https://www.halfordmediaadvisory.com/] More from Berkida Ventures: * Website: https://sites.google.com/view/berkida-ventures/ [https://sites.google.com/view/berkida-ventures/] * Substack: https://theberkidabrief.substack.com/ [https://theberkidabrief.substack.com/] * LinkedIn: https://www.linkedin.com/company/berkida-ventures/ [https://www.linkedin.com/company/berkida-ventures/] * Email: info@berkida-ventures.com [info@berkida-ventures.com] Follow the Podcast: * Apple Podcast: https://podcasts.apple.com/us/podcast/berkida-podcast/id1877643221 [https://podcasts.apple.com/us/podcast/berkida-podcast/id1877643221] * Spotify: https://open.spotify.com/show/3PMcmovZzweazCDgXKzmpY?si=37f1773a8fd34e38&nd=1&dlsi=4f8c3665a8ba4448 [https://open.spotify.com/show/3PMcmovZzweazCDgXKzmpY?si=37f1773a8fd34e38&nd=1&dlsi=4f8c3665a8ba4448]
8 episoder
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