November 14- Smartworking (6 hours)

This day I wroked on analyzing and understanding the different ways that investors decide to take to invest in sport, in particular in Soccer and Rugby. The ways in which funds plan to make their investments pay off may vary, but they all aim at the same goal. Rugby, for example, is still considered a "young" sport: professionalism has existed for about twenty years, many competitions have yet to find a suitable format and international calendars, as a result, are quite confusing and subject to change. From this point of view, the television usability of rugby offers great potential that is still untapped, especially in Commonwealth countries. A reorganization of the calendars could therefore substantially increase the value of the movement, therefore the profits of the funds that have invested in it. A different example is Inter Milan, which after a corporate restructuring that lasted a decade, with two different owners, has recently returned to the top of Italian football and, barring surprises, will return to winning the Scudetto. Significant increases in revenue are therefore expected for the club, both from the sporting and commercial side - also driven by the prospect of a new stadium - which make it attractive to investors. At the beginning of the year, the English fund BC Partners, interested in a minority stake, had valued Inter at between 750 and 800 million euros, an estimate however considered low by the current owners. This day was particularly difficult because it was hard to find informations and documents that showed how this was happening, but my mentor was satisfied with the result.