DAVOS, SWITZERLAND — If you listen to Sporticast sports business podcast, which Eben Novy-Williams and I have hosted for more than a decade, then you know I’m fond of telling stories about my years chronicling the late NBA commissioner David Stern.
Digital Dave, as he was known long before dot-com was every-day vernacular, would sometimes summon me to Olympic Tower in midtown Manhattan for what I can only describe as a PhD-level symposium on sports business.
My favorite tale involves the commissioner, who spotted a teenager at an Internet café in Thimphu, Bhutan scouring the computer screen for all things Kobe Bryant. The precise year escapes me, but the lesson stuck—the NBA was global.
It was a crystalizing moment for Stern, who prioritized a business without borders. What could be more important, or needed, these days than something, anything, that bridges worldwide divides?
The business of sports is on full display in Davos, Switzerland, where the World Economic Forum’s annual shindig for bigwigs kicked off earlier this week. Novy-Williams and I are on the ground hosting the first sports-themed lineup at the WEF.
Now is the right time for sports to corral a significant amount of the attention economy in Davos, where it’s likely more than a few guests are season-ticket holders.
Donald Trump, the U.S. president and former owner of the USFL’s New Jersey Generals, will be among those sporting a designer puffer jacket and crampons—must-haves when attending Davos. He’ll be joined by a litany of sports dignitaries, including, in no particular order, McLaren CEO Zak Brown; Chelsea, Dodgers and Lakers investor Todd Boehly; former Celtics investor Steve Pagliuca; retired hoops stars Sue Bird and Tracy McGrady; FIFA chief Gianni Infantino and former baseball star-turned-NBA owner Alex Rodriguez.
JPMorgan Chase CEO Jamie Dimon will be there—his bank pays handsomely to have its brand associated with New York’s Madison Square Garden and the home of the NBA’s Golden State Warriors. Stephen Curry helps to win hearts, minds and business.
Think back to 2012 Linsanity and how it united New Yorkers. So intense was the fan outcry at not being able to witness Jeremy Lin at his peak with the Knicks that even James Dolan’s MSG and Time Warner Cable reached a speedy resolution to their contract dispute at the time. Only hordes of irate New York sports fans could have brokered that détente so quickly.
We’ve been hearing a lot about sports as an asset class. Private equity and sovereign wealth funds are scouring sports teams and adjacent business for entry points. The Qatar Investment Authority is invested in the NBA’s Washington’s Wizards and the NHL’s Washington Capitals. Speaking of Washington, D.C., Trump has a lot to say about golf, college sports and the NFL’s Commanders, who are controlled by the co-founder of Apollo Global Management Josh Harris, whose portfolio also includes the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils.
Sports and diplomacy aren’t strangers. Henry Kissinger, U.S. Secretary of State from 1973 until 1977, was instrumental in luring Pelé to the U.S. from Brazil. They played ping-pong in China.
Stern and the NBA, of course, spent decades building a fan base in China, where there are some 400 million hoops fans. Eyeballs, in the arena but more importantly on TV and mobile devices, are the revenue lifeblood of sports leagues and teams. Here’s another parable: Stern and I were strolling down Seventh Avenue, near Madison Square Garden, during an NBA lockout when a driver rolled down his window and yelled that he was f—ing done with the NBA and its spoiled rotten players.
Stern chuckled and without hesitation said that guy wasn’t going anywhere. His passion was on full display. Of concern, he said, is the fan who says nothing.
How many silent sports fans do you know?