The Salary Cap After the Cap
Squad-cost ratios have replaced absolute spending limits across European football. The new instrument is harder to game and entrenches existing revenue advantages.
Athletes & Labour
Wages, collective bargaining, agency, endorsement and the market for playing talent.
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17 OCT2024
Player Trading as an Asset Class
Amortisation accounting has turned squad building into a balance-sheet exercise. Clubs are now managing book values as deliberately as they manage results.
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15 JUN2023
Golf’s Capital Shock and the Price of a Competitive Moat
An incumbent tour with no equity, no owner and no balance sheet met a challenger with unlimited funding. The resolution reveals what a sporting monopoly is actually worth.
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25 AUG2022
The Agency Roll-Up: Who Owns the Representation Business
Player representation has consolidated from a cottage industry into a handful of capital-backed platforms. The conflicts this creates are structural, not incidental.
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19 AUG2021
NIL Day One: The College Athlete Becomes a Vendor
Permitting American college athletes to monetise their name, image and likeness created a market of roughly half a million new commercial counterparties overnight, with almost no supporting infrastructure.
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17 SEP2020
Wage Deferrals and the Limits of Solidarity
Squad-wide pay agreements struck in the spring are unwinding. What they revealed about the structure of player contracts will outlast the arrangements themselves.
