September 9 - Smartworking (6 hours)

This day the analysis was on mergers and acquisitions in the sport entertainment industry. Sport companies and organizations are object of merger and acquisitions by companies of all sector and industries, that are interested in buying shares of a specific company, because interested in its values, content and fanbase. An internet or tech company may be interested in acquiring a soccer team, not because of its financial results (or at least just in part), but because of its fanbase and content that are connected or related to the current target (of the internet or tech company). Thinking about the sport entertainment industry, there are two companies that are leader in the business in the USA: UFC and WWE (World Wrestling Entertainment). There are many companies, from different industries, such as crypto, streetwear, alcohol etc., that are interested in investing and sponsoring in the UFC. The reason behind these investments is not the financial results, but in the acquisition of UFC’s fanbase, to create operations of brand extension and using the UFC as a channel to sell other products. Sponsorship deals follow the same path: Crypto.com invested a lot of money to sponsor the UFC, not because of the revenues that the company generates, but because it represents a perfect channel to implement a brand extension campaign. The fan base of the UFC is mainly formed by people with the same psychographic characteristics of the users and investors in crypto. Sponsoring the UFC, Crypto.com is buying UFC’s fanbase, to which It can sell other products or services. Today, mergers and acquisitions in sport happens buying not physical assets, but intangible ones, such as the passion, fans and content, which values are considered higher than traditional assets.