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Business of Sport Ep.5: Steve Pagliuca, Co-Owner @ Boston Celtics & Atalanta BC, 'How to finance a sports franchise'
Manage episode 407267178 series 3561503
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Today, we are delighted to welcome Steve Pagliuca. Steve is a co-owner and Managing General Partner of the World Champion Boston Celtics and serves on the NBA Board of Governors. In 2022, he became co-owner and co-chairman of the Serie A football club, Atalanta. Away from sport, Steve has helped to build Bain Capital into one of the world’s leading investment companies.
In today’s episode, we discuss:
Football club ownership:
- Why was Steve interested in buying Atalanta in Italy and how has he found life as a football club owner?
- The importance of qualifying for European competitions and the financial opportunities it creates.
- Steve’s love for the passion and fandom that drives Italian football and the unique community environment it creates.
- What does the process look like when buying a player and Steve’s role in recruiting star striker Rasmus Hojlund.
- How has Steve applied his experience in business to the world of football and how does he work with the club to set budgets, buy players, and drive new revenue initiatives?
Boston Celtics & the NBA:
- How Steve became part of the ownership group that bought the team for $350m that now has a market value of over $4bn.
- The pressure of bringing success back to the joint most winning team in NBA history, and the importance of that championship win in 2008.
- The opportunities created by the NBA’s 50:50 partnership with the players, and the possibilities of the model being replicated in football.
- Taking the NBA on the road and the drive for international expansion.
The process of buying clubs and franchises:
- How do you buy a club? What has been Steve’s experience of identifying and negotiating deals to acquire assets and the finances required to do so.
- The Chelsea sale: Steve’s role in the bidding process and the huge numbers behind the sale of a top Premier League club.
- Steve’s views on the challenge presented by competing with clubs owned by sovereignties.
- The importance of making sure that not only is there enough financial backing to buy a club, but also the reserves to run it so the long-term goals can be achieved.
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