December 9, 2022

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Morocco plays in its first-ever World Cup quarterfinal match on Saturday — and one Moroccan security guard wasn’t about to miss the penalty kick [[link removed]] that sealed the team’s historic win over Spain.

Qatar World Cup Fans On Pace for Record Spending [[link removed]]

FIFA

Qatar’s World Cup has made its fair share of headlines — and not always positive ones.

But as the tournament enters the quarterfinals, the 2022 edition is already showing a bright side: Fans are on pace to surpass spending totals from each of the last two tournaments.

Despite a ban on in-stadium alcoholic beverage sales — which surprised both fans and World Cup sponsor Budweiser two days before the first game — fans have already spent [[link removed]] 89% of what they did in the 2018 World Cup in Russia, according to official payment provider Visa.

Fans have already passed the spending levels seen in Brazil in 2014 — and FIFA officials project the World Cup’s current four-year revenue cycle to surpass the $5.4 billion it made in Russia in 2018.

Less Than Expected

In what is simultaneously a disappointment and relief for the host country, the number of visitors to the tournament has been far lower than initially expected.

A report prepared by a government committee found that the country has welcomed [[link removed]] 765,859 international visitors over the first two weeks, per Reuters.

The country expected 1.2 million visitors over the month-long tournament.With eight games remaining, more than half the people who came for the World Cup have already left, and the country doesn’t expect a large influx of new arrivals.The report tabulated 1.3 million match-ticket holders and 3.1 million tickets sold.

With the World Cup centered in Doha, a city of roughly 2.4 million people, accommodations have been tight — fans have stayed in desert tents, shipping containers, cruise ships, and in neighboring countries such as the United Arab Emirates.

Phoenix Suns Move Closer to Finding New Owner [[link removed]]

Mark J. Rebilas-USA TODAY Sports

The Phoenix Suns are one step closer to a new owner.

A “handful” of bidding groups have reportedly progressed [[link removed]] to the second round of vetting for the team. Suns’ advisers believe it will be a record sale, and the report suggests it will push the Suns’ value to $3 billion.

Previous reports note the Suns are likely to fetch at least $2.5 billion, which would be the second-highest team sale in NBA history.Forbes last valued the team at $2.7 billion.Suns majority owner Robert Sarver is also looking to sell the WNBA’s Phoenix Mercury.

Some of the groups in the process are reportedly looking at opportunities to buy other U.S. sports teams currently for sale, including MLB’s Washington Nationals and Los Angeles Angels and the NFL’s Washington Commanders.

Names floating around as possible [[link removed]] interested parties include Jeff Bezos, Larry Ellison, Laurene Powell Jobs, and former president Barack Obama.

Sarver Sale

Sarver, the Suns’ managing partner, owns around 35% of the Suns but reportedly [[link removed]] has the authority to sell the team in full.

He announced his intent to sell the team following an NBA-commissioned report detailing repeated acts of misogyny and racism.

Sarver is being advised [[link removed]] by Moelis & Company banker Navid Mahmoodzadegan, who is reportedly close to Suns’ minority owner Jahm Najafi. Najafi previously called for Sarvers’ ouster.

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Formula E Adds Portland to New Races in Brazil, India, South Africa [[link removed]]

McLaren Racing

A top electric car racing series is moving to a new U.S. city in search of new markets.

Formula E is taking New York City off its calendar and replacing [[link removed]] it with Portland, Oregon, after series organizers approved a revised calendar on Wednesday.

The series has raced in the U.S. since its founding in 2015, with competitions in Long Beach and Miami.Formula E’s chief championship officer touted Portland’s “big passionate fanbase for professional sports” and “strong ecological credentials.”In addition to Portland, Formula E is adding São Paulo, Capetown, and Hyderabad. Seoul and Marrakesh held races this year, but won’t in 2023.

The series will hold testing rounds in Valencia on Dec. 13, with the first race coming in Mexico City on Jan. 14.

Changing Gears

The 2023 season will introduce several key changes to the electric vehicle racing series, namely the Gen 3 car — a lighter and faster model than its predecessor and specifically designed for street racing.

The vehicle’s April unveiling before Formula E’s Monaco race focused on sustainability and the importance of the software upgrades in improving performance.

The race is also changing formats to a traditional one in which drivers complete a set number of laps, instead of the highest number of laps over 45 minutes.

PSG Owner Reportedly Not Interested in Liverpool [[link removed]]

UEFA Champions League

Fenway Sports Group is exploring a sale of Liverpool FC, and the Qatari Royal Family is reportedly no longer considered a contender.

ESPN reported [[link removed]] that its sources shut down previous reports that the family could be interested in the Premier League club. Earlier this week, it was reported [[link removed]] that a Saudi-Qatari consortium was planning a joint takeover bid.

A sale has fetched expected price tags of up to $4.7 billion. FSG purchased the club for $358 million in 2010.

Through Qatar Sports Investments, Sheikh Tamim bin Hamad Al Thani owns Ligue 1’s Paris Saint-Germain, and the Emir of Qatar is reportedly focused on PSG — two Champions League clubs cannot be under the same entity, per UEFA rules.

Sheikh Joaan Al Thani, the Qatar Olympic Committee president, is also reportedly not in talks for the team.

Mumbai Indians owner Mukesh Ambani and Dubai International Capital are reportedly [[link removed]] interested in the club.

PSG Pricing

The Qatari Royal Family may not want Liverpool, but it is interested in selling some of its current team.

Qatar Sports Investments is seeking [[link removed]] a more than $4.1 billion valuation for Paris Saint-Germain by offloading a 15% stake in the team, which it purchased for roughly $72.3 million in 2011. The club earned $574.6 million in revenue last year.

PSG is also looking at options to own its own stadium, whether building a new one or buying the 80,000 capacity Stade de France.

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Conversation Starters Riot Games announced [[link removed]] details surrounding its new 2023 Season Kickoff event for the 13th season of League of Legends Esports that will begin on Jan. 10, 2023.† International Olympic Committee president Thomas Bach said [[link removed]] that he and the executive board would like Russian and Belarusian athletes to participate in the 2024 Olympics in Paris despite those countries’ continued invasion of Ukraine. For this year’s Cheez-It Bowl between Florida State and Oklahoma, the company will compensate [[link removed]] four players to stay in hotel rooms filled with Cheez-It paraphernalia. Question Of The Day

Do you search for coupon codes when shopping online?

Yes [[link removed]] No [[link removed]]

Thursday’s Answer

59% of respondents are involved in the annual budget process for their department at work.

DISCLAIMER

*Invesco is not affiliated with Drake Heismeyer or the University of Missouri.

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