This page contains a Flash digital edition of a book.
SPORTS


“You cannot foresee the amount of extra funds you’ve got to put in, because people do things that help the club, and where they often used to not charge for it, they do when there is a private owner”


works well, for example, in the English Premier League, where members still feel part of the club and follow it fanatically. To a lesser degree, it’s the same in rugby league, where members don’t feel disenfranchised by private ownership. It seems to be different in AFL.” But Edelsten has a stern warning for owners around


the world who go into it with the idea of making a handsome profit. ‘‘You shouldn’t own a sporting club with the hope


US$ million


THE AMOUNT OF PROFIT STARBUCKS MOGUL HOWARD SCHULTZ MADE WHEN HE SOLD THE NBA SEATTLE SUPERSONICS BASKETBALL


FRANCHISE IN 2006. 90


of making money,” he says. “But you would hope that the investment is modest. Your return from the various activities should cover most of your costs, and whatever you’ve budgeted to spend, be it $1 million or $5 million, should be the limit. But it isn’t the case. You cannot foresee the amount of extra funds you’ve got to put in, because people do things that help the club, and where they often used to not charge for it, they do when there is a private owner. It often costs much more than you anticipate unless you have the experience or someone has warned you.” There is no doubt that the ego of a wealthy individual


or someone who has built up his business and whose name is strongly linked to the organization feels the


desire to push their image out there even further when it comes to private sports ownership. “The lifestyle benefits can be great, with your own


corporate box, flying in and out of matches, inviting friends, work colleagues and business partners that you deal regularly with to sit with you at matches,” Snell says.


“Sport is also a good marketing tool in terms of


promoting fitness, so generally the community will get behind you.”


Owning a sporting team around the world brings with


it – at a very basic level – the highs and lows associated with the team’s ups and downs throughout the season. But being the owner allows you the opportunity to influence the success of the team by overseeing player buying and selling, corporate attraction, and expanding your name and brand around the world. Just don’t count of making any extra money at the


end of it. If you do, it is a bonus, but it shouldn’t be the reason you get involved in the first place – just ask Roman Abramovich.


Louis White FAMILY OFFICE: ASIA TOMORROW 123


LIFESTYLE INVESTMENTS


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116  |  Page 117  |  Page 118  |  Page 119  |  Page 120  |  Page 121  |  Page 122  |  Page 123  |  Page 124  |  Page 125  |  Page 126  |  Page 127  |  Page 128  |  Page 129  |  Page 130  |  Page 131  |  Page 132  |  Page 133  |  Page 134  |  Page 135  |  Page 136  |  Page 137  |  Page 138  |  Page 139  |  Page 140  |  Page 141  |  Page 142  |  Page 143  |  Page 144  |  Page 145  |  Page 146  |  Page 147  |  Page 148