Seb Coe | New Formats, Athlete Pay, & The Post-Bolt Era: Rebuilding the Reputation of Athletics (Ep129)

28:37But for the bulk of even our top-rated athletes, it's hard going out there. So as a president of a sport, I have a responsibility to address that. And that has its philosophical challenges for some out there. I recognize that. We can all live in a world where we see things differently.

29:00Sebastian Coe:You've been one, right? You've been a top athlete. So was it the same when you were running, when you were winning gold medals and you were trying to build that life for yourself? You had the shoe contracts, you may have had some of those sponsorships. You wouldn't have had the digital exposure, right? That you hadn't had the opportunities alongside of that. Thank God for that on some occasions. Some would look at that as a great thing and some wouldn't. But does that make it easier or sometimes harder for you to have these discussions? Because there's an element of you which has to act as president, which has a multi-stakeholder responsibility.

29:31Sebastian Coe:Then there's the element that is athlete, understanding where the challenges may come. The great advantage of having been an athlete is I tend to look at most of the issues that are in my intray through the eyes of an athlete. That's not the only way you can address it, but often I will ask myself the question when others sitting around the table who don't have an elite background. I'm lucky. John Ridgen, my CEO, also was a very, very talented athlete, Olympic silver medalist. So he and I tend, and it's just helpful that he's there as well because he's a great CEO to work with. But it is helpful that we've both seen it from the hard end of losing seasons because of injury, trying to make ends meet before you get that shoe contract, before you get the commercial uplift of having performed maybe well in an Olympic Games.

30:35And it's hard work. When I first came into the sport and started breaking into the fringes of the British team, it was a second-class rail ticket and a 75 pence meal voucher i got on a train at i got on a train in sheffield i got on a train in sheffield to go to the inter counties then i just managed to um win the york i'd won the yorkshire championships i was you know 18 there were three athletes from yorkshire selected and i got on the train and one of the senior partners in in Yorkshire athletics was a guy called Walter Winterbottom. He was a train driver. I got on the train in Sheffield. I got out at St.

31:21Pancras and I saw Walter on the platform. And I said to him, I said, oh, Walter, if I'd known you were on the train, I'd have come and sat with you. And he looked at me and said, on the train, you dozy bastard, I drove you down. And he was the train driver. And we were both competing that night in the intercounties. So, the world did alter dramatically. And around about the 1980 Olympic Games, there was still the amateur divide. And it was being well upheld. And if you were earning money outside the sport or you were earning money from participation money, you ran the risk of being sanctioned.

32:02And there were people that were kicked out of the Olympic Games for doing that. But slowly but surely, and Britain was at the forefront of creating the trust fund that the athletes could draw down, subvention payments, so you had medical expenses paid for, and sponsorships that you did get had to be fed into that, and there were trustees. It was actually, athletics had a really sensible transition. We didn't have any of the explosions that cricket had or the professional players that were more than boycotting for a year or two. And, you know, the Kerry Packer, you know, revolution in cricket. We didn't actually have the ruptures around the going back now into the history of British sport, but the 10 pound cap on professional footballers.

32:53So ours sort of morphed carefully and sensibly into an evolution. The added challenge you had in Olympic sport, which people tend to forget historically, is there was a real nervousness given that we were competing. When I started to compete, we were competing in a Cold War atmosphere. There was a wall down the middle of Europe. And there was no such thing as profession. There was no such thing as professional sport the other side of the wall. And so I think a lot of sports administrators were really concerned that unless we addressed it in a sensible way, we'd have the sport breaking into West Europe, Eastern Europe, and it would have just frayed and shred.

33:42And we had our boycotts. We had our big challenges. But actually, the sport, athletics handled it pretty well. If we stay on that thread of boycotts and divides and political tensions, in many cases there are more conflicts than it seems to have for many years. Does geopolitics have a place in modern athletics? Look, I think you have to be realistic about it. Geopolitics is the stuff of life. It is everywhere. I think for me, one of the most limiting mantras that often people unfurl the flag underneath is keep politics out of sport. Well, yes, keep party politics out of sport, but politics is the stuff of life.

34:27And it's often overlooked, certainly in Olympic sport, that the biggest funders in Olympic sport are often governments. You know, it's not the Coca-Colas and the GEs that are building your venues. It's not those companies that are paying for your world-class programs or your coaching structures. That is often done through the public purse. And the public purse is in large part controlled by politicians and governments and voters vote them in and vote them out. So people tend to forget there's a linkage there. And arguing that politics and sport shouldn't be in the same postcode is really naive because you actually do need.

35:11I chaired the UK Sports Council, I chaired the British Olympic Association, and I ran a London Games. I know the importance of having government involved. We couldn't have delivered an Olympic Games without governments, and governments are made up of politicians. We couldn't have got the national lottery across the line without an act of parliament, that's politicians, that's government. So you need to really understand. And I think having been a member of parliament and for a short period of minister, that was actually quite helpful. But when you come to having to make those decisions, And we've had to do that in our own sport across a whole range of issues.

35:56The one thing that I absolutely circle the wagons around is the integrity of competition. And, you know, whether it's about protecting the female category, the arguments, the discussions we've had around DSD and transgender, or whether it's about the inclusion. of Russia or Belarus, they're not done on politics or passports. They're done about what impact does that have on the ability of others to compete openly and fairly. And if you look at the challenges around Russia and Belarus, you've got a Ukrainian team that has been completely denuded in the last few years. It's half, sometimes even only 20 % the size that it would normally have been.

36:50You've got male athletes fighting on the front. You've got coaches that are there as well. It's a huge challenge. So the decisions we've tended to make, like the female category, what impact is that going to have if you don't get control over it, over women's sport? And if you don't, you lose women's sport. That's not where we need to be. So I've always tried to look at it, these issues, through the lens of the integrity of competition. What impact does that have on competition rather than political discussions around passports and land grabs and all sorts of things? Yes, of course, they play a part.

37:31But the integrity of competition for me sits at the kernel of these decisions. Can you have the integrity of competition and the satisfaction of transgender rights? Are they mutually exclusive? No, look, I am a libertarian, so I have no problems about the way somebody chooses to lead their life. And I also know that the transition for people that are transgender is traumatic. I'm not remotely dismissing that, but I also have a responsibility to uphold the integrity of competition. and sport is very different. The greatest determinant in the outcome of a sport is, I know I'm simplifying this as I'm off to Loughborough in a few hours, the hotbed of sport science, but the reality of it, it's testosterone is a massive determinant.

38:31When my daughters were 12 and 13 in school sports, they were routinely beating guys. As soon as puberty and beyond, it reverses and it doesn't alter. And so we have a responsibility to actually follow the science, and the science is very clear around biology. And I'm sorry to say this, but gender cannot Trump biology and that is where we've been really clear. So I have no problems. And remember our rules and regulations in that space are only about elite competition. I'm not there to stop somebody competing in the Falmouth 10k road race as a participant raising money for charity. I have no philosophical need to do that, and I certainly don't have the jurisdictional right to do that.

39:32Ours is really about protecting the female category in sport. And we've had occasions where the female competitions in the past have been horribly impacted by those situations. situations and we've now been a sport that's been brave enough to do it and actually the world's following so do you mind now not such an outlier concept when i start when we started on that yeah we had a lot of when you started we had a lot of opprobrium around it governments other sports organizations have sort of recognized what what the justification for our thinking when you started it you got heat for it i wouldn't quite say in the same way that like a jk rowling did standing up for her beliefs but you got heat for it oh my goodness was there ever a moment where you were like maybe maybe we've communicated this wrongly maybe we've taken the wrong choice no because they you know i was always comforted well first of all it was the right decision secondly i have a responsibility to do what i think is right and look i'm not a lone voice here i do have a 26 strong global council so it's not me sort of sitting you know at my kitchen table on a tuesday morning going that oh i think i'm going to do that and we have you know we have good governances we have a council of 26 people a completely gender balance by the way the only international federation to have achieved that 26 members 13 men 30 women have an executive board that keeps the house safe.

41:10And ultimately, we're all responsible to a Congress that elects us all. So we've got a triple lock on most of these things. So I'm not a lone wolf here. But yeah, there are plenty of things that I've done in the sport and decisions that we've taken that have not been popular. Transfers of allegiance. In the lead up to the Rio Games in 2016, I was chairing the council. I'd only been president for a year. And we had 24 applications a few hours before the competition for people to jump ship and go and compete for a different country. That just clearly can't work. So there are decisions that we've taken, which actually have met with public approval.

42:00but yeah but you're never going to link you know famously Abe Lincoln you're never going to satisfy

42:05Sebastian Coe:everybody at the same time the biggest problem well not the biggest problem the biggest challenge then that you have throughout all of this right when you're looping all of that together let's say politics is at the central you have institutional politics that you found when you walked in and there was an organization that wasn't functioning as it should have been and you had to deal with that from the start you've had identity politics you have clean sport politics well it was a bit more livid than that to be honest Charlie you've been quite charitable you know a few weeks after After I arrived at World Athletics, I had 17 French policemen sitting in my reception and the rest.

42:36So, look, we turbocharged the innovations and the reforms. And even when I stood for the presidency, my platform was, we are going to have to modernize the organization and our ability to function in the modern world. The situation I hadn't foreseen, but I inherited, did actually mean we had to move pretty quickly. And one of the things I'm probably proudest about is the creation of the Athletics Integrity Unit, which is now seen as gold standard across the governance of sports.

43:11Sebastian Coe:So this is what I was actually going to say. So we sit here and we'll speak to organizations generally, right? And if we're looking at business models and everything, it will come down to how do you make your money? Is it commercials, ticketing, media, et cetera, et cetera, et cetera. but really if we're breaking down athletics global nature one of two truly global sports politically valuable the biggest job you have is ensuring that this from an optics perspective delivers exactly as it should because if it doesn't and you have holes in those areas you're not as you've said going to attract the sponsors you're not going to get the trust from a public and a fan base because they don't believe that the athletes are achieving in a fair manner for you to actually do your job but we're talking about here oh great how do we pay more money how we get better broadcast deals really you're going that is all great but this is the thing that needs to work and operate and that's the stuff that you won't probably ever think about as the key business of world athletics of olympic sport it's the it's the perception people have of your organization from you know young people have got to look at you and think you look like the world i live in and too many sports in the past haven't and made decisions that have been sometimes just spasmodic decisions.

44:22We need to have a sport that's well governed. So you've got a commercial. Look, when I became president of the sport, I asked three questions. The first was, how do we make decisions that are clear cut, transparent, and that the chair of the local athletics club in Suffolk knows exactly why I and my council at World Athletics headquarters have made that decision and how do you communicate it? The second, given the sport inherited, and it's a more sensitive one, is who do you want in your sport? The right people with the right motives are coming in there to do good for the sport and not just worrying about themselves.

45:08Only when you've answered those two questions can you then get onto the substantive discussion we're having today, which is about how do you grow the sport? Because you can't do that unless you've got those fundamentals in place. So in a way, because of the challenges I had to deal with between 2015 and 2019 and even beyond, we've come to that slightly later, if I'm being blunt about it, than I would like to have done. Now, in the year or so that I remain in that mandate, I have a responsibility to drive that as hard as I possibly can. And I can do that with the comfort of knowing that when I do take this to brands and brands come to discuss their relationship with us and going forward, we have a crossover in 2029 when all our commercial rights, all our broadcast relationships, our sponsorship relationships revert to us.

46:08We've had an external organization that have effectively handled those for the last 20 years. and before that, another agency that did it. This is now where a lot of my time is spent thinking about what does that commercial model look like going forward? And that's what a large part of our teams at headquarters are buried in at the moment, particularly my very talented CEO. And we were an hour before this podcast, Charlie, we were sitting chatting about it on the phone this morning about the resources we need to apply to do that over the pace that we need to do it. So we're absolutely across that, but you can't, and we couldn't have done any of that unless we'd got all the other stuff in place.

46:52Do you think the IOC is sufficiently modern and relevant for a young person looking at it today? I think the president, the new president, Kirsty, to her immense credit, has recognized that it probably it's a great movement, but it needs to re-engineer itself in light of the question you've asked. And how does it remain salient and interesting and exciting? And I think she's really prepared to take some tough decisions. The Fit for the Future initiatives, there are four or five work streams. I sit on two of the working groups, one about what the program for the games looks like. The other is around cost and complexity of delivering a games.

47:37There's one about global and commercial reach. There's one about protecting the female category. There's another one about the future of the Youth Olympic Games and how we bring our host cities to the table. She's absolutely got out of the starting blocks quickly on this, and it's a refreshing approach. And to not mix our metaphors, I suppose, in the middle of a World Cup, it's appropriate, But I think she's really been prepared to put her foot on the ball and make us all think about exactly what the future of the movement looks like in light of the question you've just asked.

48:14Sebastian Coe:What about the rise of challenger competitions and how they can fit in? Because you've got different types now. And it kind of comes back to money because a lot of them, and a lot of sports have had this. Live golf, obviously, they're probably the most common one. People are there. Whether it is Grand Slam track, whether it is Athlos, whether it is Enhanced Games. these are things that whether we like them or not are here and you have to embrace that have to stand with it maybe against it alongside it how do you deal with this world now where you have we'll always embrace legitimate and from the very outset when we and athos is as a great example of that and alexis is a great guy and we work closely with alexis and we bounce ideas off each other and he's ambitious for the sport.

48:59We're ambitious for the sport. And we're all smart enough to figure out how we can actually help each other. We are the International Federation. We have control of the diary, all the things that he understands. And that's a really good example where you would welcome external investment and fresh thinking and creative ideas. Grand Slam was a different issue. And again, we welcomed it. My only concern at the very outset was it wouldn't be successful because the sport's on such a strong trajectory. You want fresh initiatives and we can live alongside those. We've openly supported and embraced a lot of these new initiatives, but they do have to be suffused in reality.

49:44They do have to have a business plan that you know, that is sustainable beyond the first competition. And putting on an event, I know this, you know, our guys are world class at doing that. I've got a great competition team, but stage a world championships, it's a four-year process. It's not something, and Ultimate is a really good example. We've been working on the Ultimate for September this year. We've been working on this for three years. It's not something you can come to a few months beforehand and hope It'll be okay on the night. So as long as those initiatives have got a robust business plan, a good plan A and a bulletproof plan B, that they don't leave the athletes stranded and in a difficult situation.

50:31That has to be our overall consideration. And then we can all work together. But if they're not, and it's a mixture of sort of hubris and arrogance, and we're just going to do this because, you know, we're here. But Alexis is a very different kettle of fish, and I like working with Alexis. Did your perception of the enhanced games change post seeing it play out? Not really. Harry, you know, I never really got particularly excited about it, you know. Shocked. I mean, it is what it is. But, you know, the vast majority of athletes, it's a footnote. But look, when I go to the Carifta Games in the Caribbean, as I do over the Easter weekend, and I see 17-year-old kids running low tens for 100 meters and 40-something for 400 meters, I know our sport's in great shape and in great shape in all the right places.

51:27So I'm not going to get excited about the old magnesium flare here and there. What about you next?

51:34Sebastian Coe:So you said you can't actually do any longer. No, I've earned myself to blame because in my reforms, I built in a three, four year, three lots of four years. So I've got about a year and a bit to go. For the next year, I'm entirely focusing on what the new commercial model looks like. We've got a lot to achieve in the sport. And the ultimate is, for me, is very important. Is it nice not being up for re-election because you can kind of do everything aggressively without worrying about being re-elected? As Richard Nixon famously once said, I know what to do. I know exactly what to do. It's how the hell do I get elected once I've done it?

52:07I don't have that problem now.

52:09Sebastian Coe:Yeah, but I mean, strategically now, you're almost in the position where the person now following you, as you said, it's much more about teeing them up to continue that work. Now everything's being cleaned. If you're looking at the growth of the sport from a pure play commercial element, they can now go and function that. I am more optimistic about the future of the sport than I've ever been at any stage in my presidency. And in large part in the last 30 years in a sport I've watched very closely. so no it's you know whoever takes over from me um and we've got some really strong candidates they will inherit a sport that is in far better shape than when i took the helm how did doing this compare to something should we say maybe like a project based but you deliver a games for london versus the other stuff you've done within the sport well where do they all kind of fit in for you just from how you've really felt there are lots of lots of crossovers i mean the venn diagram falls across a lot of it.

53:00But in both those roles, it's about preparation. It's about making decisions over the long haul. London was a different, in a way, it was a very different animal. You start off with 20 or 30 people that come out of a bid. And seven years later, well, every year you double your numbers. So your last year, you go from 4 ,500, 5 ,000 people to 10 ,000 people in an organizing committee. And you've got a seven-year window to create, deliver, and then clear off after a Games. The delivery of a sport is very different because I have a responsibility to think way, way beyond a seven-year time frame. I need to leave things in place, which we're working on now, that I hope are securing the tent pegs for the next 50 years.

53:54Sebastian Coe:how did you feel standing up on that stage with a speech in hand speaking to however many billion of people when you when you're up there in 2012 did you first did you write the speech of course i did every word of it yeah was there any not 2012 sound intelligent and authoritarian no not not 2012 seriously you know that it No, it was a sobering moment. Yeah. And you know that there are enough people in the stadium, but there are billions of people. Stadiums don't really, in a way, given what I did, I ran in Los Angeles, final was in front of 110 ,000 people. So a full stadium for people doesn't spook me.

54:38But yeah, you did have to just remind yourself that a lot of people watching around. I was actually more terrified that four of my kids were in the stadium at the same time. I just didn't want to screw up there. Do you like social media? I've got, yeah, look, it's the world I live in. It's not a world I started out in. And I've got, you know, great social media teams. And, you know, like, you know, you know my kids. So, you know, they're all of that generation. So they've sort of spruced that up for me in the last few years.

55:11Sebastian Coe:So next, are we going to enjoy the fruits of the work from a distance with athletics as you focus more on football? I'm really enjoying the work I'm doing up in Manchester at the moment as chair of the Mayoral Development Corporation. I was chaired the advisory group, scoping the new stadium at Old Trafford. And I also know from the London years that if you can build new communities around sport, you've got a much better chance of doing it. It's more effective and you can take people with you. Sport is a fabulous bridgehead into regeneration. So I genuinely get excited about regeneration projects.

55:56And I like, you know, I'm really happy to be involved in that. I've got a board meeting in Manchester on Friday this week. And that's a good process. And Jim Ratcliffe I've known for many years. Andy Burnham I've known because Andy was the Secretary of State at DCMS when we were delivering the games as well. So they're two people I really respect. Do you think he'll be a good prime minister? I don't see why not. I've seen what he's done in Manchester. He's a good communicator. He makes decisions. and all I can say is from what I've seen of him as a Secretary of State during the Olympic years and now up in Manchester, I think he's got as good a chance as anyone.

56:42And apparently he's a runner from his unit. He is a runner. There you go. And he's a good runner too. He's a good runner too. There we go. What else is there in life? Are you ready for a quick fire? Go on. Where's your favourite event to go to? Where's the like, ooh? In athletics or in sport generally? No, I'm going to do in athletics. Oh. Was it the Carifta Games? Carifta Games. This sounds beautiful. Can you imagine just like hanging out in the Caribbean? Carifta Games is running. I have to tell you, the Carifta Games is a great experience. It's the 24, 25 Caribbean islands. And if you really want to get, if you want to answer the question, what's going to happen after Usain Bolt, just go and watch those.

57:27Every one of Usain's school records has now been broken. you've got some extraordinary talent coming through and that's just one element it's over the easter weekend and it's it's it's great fun but you get a really good audit of young talent particularly sprinting talent coming through my diamond look zurich and oslo were the stadiums that i probably competed you know as well in as anywhere so zurich i love the zurich track meet which I will be at in a few weeks' time. And I'm looking forward to going back to the LA Games in 28 because that, as you know, was my second Olympic Games.

58:06Sebastian Coe:Yeah. The Coliseum. Athlete that we don't necessarily know about that we should. That's a really good question. The lovely thing about our sport is it does occasionally throw up some outstanding. You're going to ask me to pronounce his name properly, But there's a very, very young, talented 800-meter runner that's emerged in the States. He's running times that are not far shy of my own 800-meter time. He's only 17 or 18. He's outstanding. And it's good to see the US producing another good generation of endurance athletes, not just field eventers and sprint stars. I hope it's okay for me to ask, but I actually think about it because I have really bad knees running.

58:54And I actually think about you and your father quite often because mum always told us about your dad coaching you and how he would drive you downhill. Yeah. And you would run up. And I always think of that when I'm running because, no shit, it hurts a lot when I'm running downhill. What's your biggest takeaway from working with your father? Well, he was an engineer. He was a mathematician. He started life as a mathematician. He got a degree in maths and then he got a degree in engineering. So I was really lucky because I was working with somebody who was just fiercely analytical. If he couldn't prove it in numbers, just don't do it.

59:28Simple as that. Absolutely. It was clear cut. And when I was 14, 15 and running the roads around the Peak District in Derbyshire and South Yorkshire, everything from your front, If you know Sheffield, everything from your front door in Sheffield is uphill, which is great. But obviously going downhill when your joints are solidifying and ligament structures are still not fully complete. He was a good enough mechanical engineer to know that forces and stresses were more intense on joints going downhill. It wasn't that I didn't do downhill running, but he just didn't like long protracted periods of downhill.

1:00:13So he'd often stick me back in the car, would get to the bottom of the hill, and then everything was uphill again. And I think that's, in large part, helped my endurance base. Landscape is really important in endurance. And the fact that I was a cross-country runner, the fact that I was very comfortable over long distances, over quite tricky terrain, I think gave me an endurance base that was really helpful for my track career. Two for me. One is you met some pretty cool people like Narendra Modi. Yeah, yeah. Who was the coolest? Oh, my goodness. I, you know, I've met so. Yeah, look, the great thing.

1:00:52I don't know the obvious answer. I'll think about it. But now the great thing about sport, and I've often made this point, I'm very privileged. I got an insight into life through sport that I probably wouldn't have got for at least another 30 or 40 years. And it's given me privileged access to so many things that actually my intense political curiosity and the fact that I still read probably history for at least an hour every day. I like to be able to put things into context. And so much, the one thing I always encourage people in sport, particularly young people setting out in sport, is become analysts.

1:01:35Really go beyond the back page of the newspaper or whatever the sporting platform is. See it in the broader global context because if you're running a business, you can't just run the business worrying about what's going on in your sector. You have to look at some of the externalities. And those externalities in the next few years are going to have profound impacts on sport. So I say to my younger teams, really be familiar with political landscape. You don't have to come out on one side because most of them are crazy anyway, but just really understand the landscape that you are navigating your sport through.

1:02:17And don't close doors to those types of discussions because, as my history tutor at Loughborough always said, you go to the primary source. and if you're sitting down and you have the opportunity to sit down with a world leader don't just try and sell them your sport find out what is worrying them and then sometimes you can put a bespoke program together for your sport that meets those challenges when somebody like the indian prime minister says look my biggest challenge is getting more young people active getting them off the sofa and getting them to put down their mobile phones, then clearly you know that he's also serious behind an Olympic bid.

1:03:01He's also serious about wanting to stage your events. And as long as you are able to tailor those events, not just for a medals table, an elite competition, but helping those governments, those countries that are seeking those alignments to use your sport to help you, then you're in the right landscape. Final one from me. You've got four wonderful kids obviously joys of knowing them what's biggest parenting advice what's the world biggest parenting i thought he was going to say who's your favorite your four wonderful kids choose one you're waiting for this moment i often say look it's i can only use my own experience life is not an exact science there are things that are going to come your way that are going to come out of left field and often you should you're going to say yes without actually even really understanding what you're signing up to.

1:03:56Welcome to Venture Capital, Seth. Well, I'm being asked to suddenly take over from somebody in the Olympic Games a year and a quarter out. If I'd predicated it on risk or the chance of us winning, which was at that point pretty slim, I'd have said no. So I always encourage young people to actually say yes and just see how far it takes you. And it may not work out, but don't sit there in your 50s going, oh, I wonder what would have happened if I'd said yes. So say yes more than you say no. Thank you so much. Thank you. It's so good to have you. Thank you so much. No, I've enjoyed it. Well done.

1:04:39Sebastian Coe:Thanks so much to Seb for joining us. One of the truest examples of an athlete going into executive and having a profound impact on sport well beyond the confines of his individual discipline. Having known him for so long, the opportunity to actually ask some of this while sat down in this environment was a unique change and hearing his position on some of those huge challenges faced by athletics and how they're overcoming them is a really good lesson for other sports to follow. I hope you enjoyed it as much as we did recording it. Now, if you want to see more from today's show, you can do so by going to YouTube or any of our other social channels across Instagram and TikTok and now, of course, Substack.

1:05:12Sebastian Coe:There are more snippets to share and bite-sized chunks to consume. And whilst you're there, please do like, subscribe and follow the show. As you will hear from your other favourite pods, it makes a huge difference when bringing you the best guests and conversations from around the world of sport, which is, of course, our endless aim. Thank you again for tuning in and we'll see you next week. The business of sport is supported by Airwallex, the intelligent financial platform used by more than 200 ,000 modern businesses, from SaaS and marketplaces to some of the most ambitious organisations in sport, including McLaren Racing, Arsenal and the San Francisco Giants.

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