Latest news with #VictorMatheson
National Post
4 days ago
- Politics
- National Post
U.S. politics threaten to complicate Canada's co-hosting of 2026 World Cup
OTTAWA — With less than a year to go until the 2026 World Cup, political tensions and U.S. policy threaten to pose problems as Canada, the United States and Mexico prepare to co-host the tournament. Article content Next year's FIFA World Cup will be the biggest ever, with the three countries hosting a record 48 teams. Between June 11 and July 19, they will play 104 matches, most of them in the U.S. Article content Article content Article content With millions of fans expected to cross borders to attend the games, U.S. President Donald Trump's harsh immigration policies — which include travel bans on some countries, immigration raids and mass deportations — are generating anxiety. Article content 'This is all being driven by the United States. And we're entirely the guilty party here,' said Victor Matheson, a professor at College of Holy Cross in Massachusetts who specializes in sports economics. Article content 'You could have significant immigration problems with fans and players going across borders.' Article content The U.S. has travel bans in place for 12 countries and restrictions in place for seven, and is considering banning travellers from another 36 countries. Article content Though there are exemptions for athletes, staff and families, the unpredictability of Trump's administration means no one knows for certain what kind of rules might be in place by the time the tournament starts. Article content Economist Andrew Zimbalist, who wrote a book on the economics of hosting the World Cup, said Trump has the ability to make it difficult for people to travel, but it's not clear whether he will actually do so. Article content Article content 'I think probably Trump himself might not have the answers because … he responds very impetuously to changes in his environment,' he said. Article content Concerns about visas or political opposition to Trump might lead some soccer fans to decide not to attend at all, while others opt to attend the games in Canada instead, Zimbalist suggested. But he also pointed out that the quarter, semifinals and final are all taking place in the U.S. Article content A spokesperson for Canadian Heritage said Canada could see a million international visitors during the tournament. Article content 'Given the tri-national nature of the event, it is anticipated that international and domestic travellers will move back and forth between Canada and the United States. The focus will continue to be on the flow of movement, the safety of travellers and the security of the borders,' the spokesperson said. Article content A spokesperson for the Canada Border Services Agency said the agency is working closely with federal government departments, host cities and FIFA 'in the safety and security planning for this international event.'
National Post
4 days ago
- Politics
- National Post
How Trump could complicate Canada's 2026 World Cup hosting plans
With less than a year to go until the 2026 World Cup, political tensions and U.S. policy threaten to pose problems as Canada, the United States and Mexico prepare to co-host the tournament. Article content Next year's FIFA World Cup will be the biggest ever, with the three countries hosting a record 48 teams. Between June 11 and July 19, they will play 104 matches, most of them in the U.S. Article content Article content Article content With millions of fans expected to cross borders to attend the games, U.S. President Donald Trump's harsh immigration policies — which include travel bans on some countries, immigration raids and mass deportations — are generating anxiety. Article content 'This is all being driven by the United States. And we're entirely the guilty party here,' said Victor Matheson, a professor at College of Holy Cross in Massachusetts who specializes in sports economics. Article content 'You could have significant immigration problems with fans and players going across borders.' Article content The U.S. has travel bans in place for 12 countries and restrictions in place for seven, and is considering banning travellers from another 36 countries. Article content Though there are exemptions for athletes, staff and families, the unpredictability of Trump's administration means no one knows for certain what kind of rules might be in place by the time the tournament starts. Article content Economist Andrew Zimbalist, who wrote a book on the economics of hosting the World Cup, said Trump has the ability to make it difficult for people to travel, but it's not clear whether he will actually do so. Article content Article content 'I think probably Trump himself might not have the answers because … he responds very impetuously to changes in his environment,' he said. Article content Article content Concerns about visas or political opposition to Trump might lead some soccer fans to decide not to attend at all, while others opt to attend the games in Canada instead, Zimbalist suggested. But he also pointed out that the quarter, semifinals and final are all taking place in the U.S. Article content A spokesperson for Canadian Heritage said Canada could see a million international visitors during the tournament. Article content 'Given the tri-national nature of the event, it is anticipated that international and domestic travellers will move back and forth between Canada and the United States. The focus will continue to be on the flow of movement, the safety of travellers and the security of the borders,' the spokesperson said. Article content A spokesperson for the Canada Border Services Agency said the agency is working closely with federal government departments, host cities and FIFA 'in the safety and security planning for this international event.'
Yahoo
4 days ago
- Politics
- Yahoo
U.S. politics threaten to complicate Canada's co-hosting of 2026 World Cup
OTTAWA — With less than a year to go until the 2026 World Cup, political tensions and U.S. policy threaten to pose problems as Canada, the United States and Mexico prepare to co-host the tournament. Next year's FIFA World Cup will be the biggest ever, with the three countries hosting a record 48 teams. Between June 11 and July 19, they will play 104 matches, most of them in the U.S. With millions of fans expected to cross borders to attend the games, U.S. President Donald Trump's harsh immigration policies — which include travel bans on some countries, immigration raids and mass deportations — are generating anxiety. "This is all being driven by the United States. And we're entirely the guilty party here," said Victor Matheson, a professor at College of Holy Cross in Massachusetts who specializes in sports economics. "You could have significant immigration problems with fans and players going across borders." The U.S. has travel bans in place for 12 countries and restrictions in place for seven, and is considering banning travellers from another 36 countries. Though there are exemptions for athletes, staff and families, the unpredictability of Trump's administration means no one knows for certain what kind of rules might be in place by the time the tournament starts. Economist Andrew Zimbalist, who wrote a book on the economics of hosting the World Cup, said Trump has the ability to make it difficult for people to travel, but it's not clear whether he will actually do so. "I think probably Trump himself might not have the answers because … he responds very impetuously to changes in his environment," he said. Concerns about visas or political opposition to Trump might lead some soccer fans to decide not to attend at all, while others opt to attend the games in Canada instead, Zimbalist suggested. But he also pointed out that the quarter, semifinals and final are all taking place in the U.S. A spokesperson for Canadian Heritage said Canada could see a million international visitors during the tournament. "Given the tri-national nature of the event, it is anticipated that international and domestic travellers will move back and forth between Canada and the United States. The focus will continue to be on the flow of movement, the safety of travellers and the security of the borders," the spokesperson said. A spokesperson for the Canada Border Services Agency said the agency is working closely with federal government departments, host cities and FIFA "in the safety and security planning for this international event." Matheson said fans — particularly those from countries that have found themselves in Trump's crosshairs — have good reasons to be worried. "I would be very concerned about planning a vacation that has you travelling from Mexico or from Canada into the United States and back. I don't think that you can guarantee that vacation of a lifetime is actually going to be there for you to actually take," he said. He said it's one thing to be denied entry, another to end up in jail and deported — potentially to a prison in El Salvador. "No one wants to go to the World Cup to watch some soccer games and then end up in jail," he said. Trump's moves to impose tariffs on much of the world, including Canada, could also affect the World Cup. Matheson offered the example of someone who makes jerseys for a country's team who would want to ship those jerseys across the border with the team. "Tariffs make that type of inventory management pretty challenging," he said. Tim Elcombe is a professor at Wilfrid Laurier University whose areas of expertise include sports, politics and international affairs. He said "there was a sense that having the event in Canada, the United States and Mexico would almost be a bit of a calming of the political waters," as the cup returned to Western countries. Instead, he said, the 2026 tournament may be even more politically charged than the 2022 World Cup in Qatar. Canada is co-hosting one of world's biggest sporting events with a country whose president has instigated a trade war and threatened annexation. Canadians have cut travel to the U.S. and stopped buying American products — and it's not clear what all of that might mean for the World Cup. While Vancouver and Toronto will host some games, "really this is an American-centric competition," Elcombe said. "So how will Canadians feel about this? Will we get behind it? Will it become the event I think they were hoping it would be?" In early July, labour and human rights groups, including Human Rights Watch, wrote to FIFA president Gianni Infantino to say U.S. policies under Trump pose a "serious threat" to individuals, especially non-citizens. The letter accused FIFA of ignoring "the clear evidence of the significant deterioration of the rights climate in the United States." Elcombe said while the United States is likely to take the brunt of scrutiny, Canada is not immune. "Canada is going to have to be prepared for a very critical eye in terms of focus on some of the issues in Canada from a human rights perspective, because I think they will be exposed," he said, citing Canada's relationship with Indigenous Peoples as one example. MacIntosh Ross, a fellow at the Scott McCain and Leslie McLean Centre for Sport, Business and Health at Saint Mary's University, said Canada should put pressure on the U.S. government "to make sure that things happen in a safe or as safe a manner as possible." "The Canadian organizers and the Canadian government need to be very clear about their expectations for their partners in this World Cup and reiterate them and state them over and over again," he said. Elcombe noted Infantino, who has "very much established himself as a friend and supporter of President Trump," could be a key player in determining how the coming months unfold. It's difficult to predict what Trump might do, Zimbalist said. If there are political issues in the United States that he wants to distract people from, "you can see him doing crazier and crazier things internationally to get people's minds off of what's actually happening." But Trump also has shown that he cares about the World Cup and looking good as he hosts the tournament. "I think he does care about image and he does care about being on the world stage," Zimbalist said. "So I can see that being a significant deterrent, actually." This report by The Canadian Press was first published July 27, 2025. Anja Karadeglija, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNN
21-06-2025
- Business
- CNN
Sales prices for sports teams are soaring to record. Here's why, and what that means for fans
The Los Angeles Lakers may not have as many NBA titles as the Boston Celtics, but the Lakers topped their archrival with a record-setting $10 billion franchise price tag this week — just three months after the Celtics held the honor for the highest sale price for a professional sports team at $6 billion. But this record might not last very long. The NFL's New York Giants are in the process of shopping a 10% ownership stake, which could put the team's overall value above $10 billion, according to Marc Ganis, a Chicago-based sports consultant who advises NFL, NBA and MLB clubs. What's clear is that the valuations of sports teams are continuing to climb — and climb rapidly. Victor Matheson, a professor of economics at College of the Holy Cross who specializes in sports business, said in his 30 years of studying sports sales, he can't remember a team selling for less than it was purchased. For example, a 10% stake in the Milwaukee Bucks was sold in September 2024, which valued the small-market NBA team at $4 billion, a windfall from when the team was sold a decade earlier for $550 million. So even if the $10 billion record for the Lakers stands a while longer, other teams will eventually be sold at a hefty premium to their previous purchase price. The impact on fans, meanwhile, can be complicated. Fans often publicly yearn for an owner who is willing to spend what it takes to make the team competitive, yet some of the wealthiest owners have lousy records. In the end, fans are more likely to care about a team's winning percentage than its owner's net worth. Sports franchises have long been considered trophy assets, like luxury properties in short supply. 'The only thing I remember from all those economics courses is when the supply is fixed, and the demand goes up, prices go up. It's as simple as that,' said Sal Galatioto, one of the leading sports investment bankers brokering team sales. 'It is so rare you get a chance to buy control of a premier franchise.' Sports franchises have grown in value over the last decade. Cord-cutting, streaming and DVRs have made it more difficult for advertisers to reach viewers, meaning live sports programming has become more important. Major sporting events have reliably been among the most-watched events on television. 'Sports content is the lifeblood of the media industry and that drives tremendous value for these franchises,' said Lori Bistis, a deals partner and one of the leaders of accounting and consulting firm PricewaterhouseCoopers' sports practice. While cord-cutting has resulted in some regional sports networks falling on to financial hard times in recent years, streaming services have shown increasing interest in broadcasting games. Bistis said it only makes sense to see sports franchise values rise in tandem with that of lucrative television rights deals. 'We're not surprised to see the increase in valuation and all the data points to it continuing,' she said. Another factor: Buyers of professional sports teams know they will have access to valuable data on the demographics and spending behavior of their fans. Bistis said data can be monetized through different viewing experiences, merchandise and events. Galatioto said the increase in sports gaming since it became legal in 2018 is also driving up the interest in sports and sports programming. Deep-pocket investors have lined up to buy even minority stakes in teams and that is helping to drive up the valuations, as well. 'There's a lot of new money coming into the business,' said Galatioto. 'I can always find the high net-worth individuals willing to pay more. An individual gets ego gratification value, gets perks, they get other advantages.' A potential buyer could think, 'I'm willing to pay a premium to be an owner of my favorite team. I'm not willing to pay a premium to be an owner of a bunch of assets,' according to Galatioto. And a greater supply of potential buyers interested in minority stakes in teams can help drive up the prices being paid even more, said sports consultant Ganis. 'The universe of potential buyers of a 5% or 10% stake is much larger than the universe of potential buyers who can buy a 100% stake,' he said. Billionaire businessman Mark Walter, who is now buying a controlling stake in the Lakers with this deal, had been one of those minority owners with a significant stake in a team, Ganis noted. Walter had a nearly 27% stake, so his purchase of about a quarter of the team is all he needed to cross the 50% threshold. He didn't have to put up a full $10 billion in his bid for the Lakers — just a fraction of that amount, according to Ganis. Walter, the CEO of global investment and advisory firm Guggenheim Partners, also leads Guggenheim Baseball Management, which owns a controlling stake in the defending champion Los Angeles Dodgers. Guggenheim Baseball Management has invested heavily in the Dodgers' success. The Dodgers, who have the highest team payroll ($338 million) in baseball, are followed by the New York Mets, at $325 million, according to salary tracker Spotrac. The Mets, who were bought by Wall Street financier Steve Cohen in 2020 and had the highest payroll in 2024, fell to the Dodgers in last year's postseason. But spending big on players, coaches and a front office doesn't necessarily lead to winning titles. Only twice in the last 15 years has the baseball team with the top payroll won the World Series: the Boston Red Sox in 2018 and the Dodgers in 2020. (Major League Baseball is the only American sports league without a salary cap.) There have been champions during that time, such as the Kansas City Royals, whose team payroll in 2015 was just a fraction of the league's top payrolls. The deep pockets of the new class of owners have less of an influence on a team's success in leagues with salary caps, such as the National Football League and National Hockey League. So while baseball fans may get frustrated when their owners are not willing to spend to improve the team's roster, having an ownership of more modest means doesn't necessarily prevent a team from coming out on top. Matheson said he's studied the relationship between winning and payroll in baseball and found that higher payrolls do help teams win, at least during the regular season, but payrolls are only responsible for predicting about 30% of a team's success. The other 70% is due to factors like good management, avoiding injuries and even luck. 'If you're a fan, you're always wanted an owner who spends more money, but just because you have got an owner who does spend more money, that doesn't mean you're winning the whole thing,' he said.
CNN
21-06-2025
- Business
- CNN
Sales prices for sports teams are soaring to record. Here's why, and what that means for fans
The Los Angeles Lakers may not have as many NBA titles as the Boston Celtics, but the Lakers topped their archrival with a record-setting $10 billion franchise price tag this week — just three months after the Celtics held the honor for the highest sale price for a professional sports team at $6 billion. But this record might not last very long. The NFL's New York Giants are in the process of shopping a 10% ownership stake, which could put the team's overall value above $10 billion, according to Marc Ganis, a Chicago-based sports consultant who advises NFL, NBA and MLB clubs. What's clear is that the valuations of sports teams are continuing to climb — and climb rapidly. Victor Matheson, a professor of economics at College of the Holy Cross who specializes in sports business, said in his 30 years of studying sports sales, he can't remember a team selling for less than it was purchased. For example, a 10% stake in the Milwaukee Bucks was sold in September 2024, which valued the small-market NBA team at $4 billion, a windfall from when the team was sold a decade earlier for $550 million. So even if the $10 billion record for the Lakers stands a while longer, other teams will eventually be sold at a hefty premium to their previous purchase price. The impact on fans, meanwhile, can be complicated. Fans often publicly yearn for an owner who is willing to spend what it takes to make the team competitive, yet some of the wealthiest owners have lousy records. In the end, fans are more likely to care about a team's winning percentage than its owner's net worth. Sports franchises have long been considered trophy assets, like luxury properties in short supply. 'The only thing I remember from all those economics courses is when the supply is fixed, and the demand goes up, prices go up. It's as simple as that,' said Sal Galatioto, one of the leading sports investment bankers brokering team sales. 'It is so rare you get a chance to buy control of a premier franchise.' Sports franchises have grown in value over the last decade. Cord-cutting, streaming and DVRs have made it more difficult for advertisers to reach viewers, meaning live sports programming has become more important. Major sporting events have reliably been among the most-watched events on television. 'Sports content is the lifeblood of the media industry and that drives tremendous value for these franchises,' said Lori Bistis, a deals partner and one of the leaders of accounting and consulting firm PricewaterhouseCoopers' sports practice. While cord-cutting has resulted in some regional sports networks falling on to financial hard times in recent years, streaming services have shown increasing interest in broadcasting games. Bistis said it only makes sense to see sports franchise values rise in tandem with that of lucrative television rights deals. 'We're not surprised to see the increase in valuation and all the data points to it continuing,' she said. Another factor: Buyers of professional sports teams know they will have access to valuable data on the demographics and spending behavior of their fans. Bistis said data can be monetized through different viewing experiences, merchandise and events. Galatioto said the increase in sports gaming since it became legal in 2018 is also driving up the interest in sports and sports programming. Deep-pocket investors have lined up to buy even minority stakes in teams and that is helping to drive up the valuations, as well. 'There's a lot of new money coming into the business,' said Galatioto. 'I can always find the high net-worth individuals willing to pay more. An individual gets ego gratification value, gets perks, they get other advantages.' A potential buyer could think, 'I'm willing to pay a premium to be an owner of my favorite team. I'm not willing to pay a premium to be an owner of a bunch of assets,' according to Galatioto. And a greater supply of potential buyers interested in minority stakes in teams can help drive up the prices being paid even more, said sports consultant Ganis. 'The universe of potential buyers of a 5% or 10% stake is much larger than the universe of potential buyers who can buy a 100% stake,' he said. Billionaire businessman Mark Walter, who is now buying a controlling stake in the Lakers with this deal, had been one of those minority owners with a significant stake in a team, Ganis noted. Walter had a nearly 27% stake, so his purchase of about a quarter of the team is all he needed to cross the 50% threshold. He didn't have to put up a full $10 billion in his bid for the Lakers — just a fraction of that amount, according to Ganis. Walter, the CEO of global investment and advisory firm Guggenheim Partners, also leads Guggenheim Baseball Management, which owns a controlling stake in the defending champion Los Angeles Dodgers. Guggenheim Baseball Management has invested heavily in the Dodgers' success. The Dodgers, who have the highest team payroll ($338 million) in baseball, are followed by the New York Mets, at $325 million, according to salary tracker Spotrac. The Mets, who were bought by Wall Street financier Steve Cohen in 2020 and had the highest payroll in 2024, fell to the Dodgers in last year's postseason. But spending big on players, coaches and a front office doesn't necessarily lead to winning titles. Only twice in the last 15 years has the baseball team with the top payroll won the World Series: the Boston Red Sox in 2018 and the Dodgers in 2020. (Major League Baseball is the only American sports league without a salary cap.) There have been champions during that time, such as the Kansas City Royals, whose team payroll in 2015 was just a fraction of the league's top payrolls. The deep pockets of the new class of owners have less of an influence on a team's success in leagues with salary caps, such as the National Football League and National Hockey League. So while baseball fans may get frustrated when their owners are not willing to spend to improve the team's roster, having an ownership of more modest means doesn't necessarily prevent a team from coming out on top. Matheson said he's studied the relationship between winning and payroll in baseball and found that higher payrolls do help teams win, at least during the regular season, but payrolls are only responsible for predicting about 30% of a team's success. The other 70% is due to factors like good management, avoiding injuries and even luck. 'If you're a fan, you're always wanted an owner who spends more money, but just because you have got an owner who does spend more money, that doesn't mean you're winning the whole thing,' he said.
