Sportico's Invest West conference in San Francisco highlighted the growing business opportunities in sports, with discussions on women's sports and fan experience. Over 150 attendees, including investors and team owners, shared insights on the sports economy.
Key points
Invest West conference showcased business opportunities in sports
Discussions included women's sports and fan experience
Over 150 guests attended the event
Joe Lacob emphasized owner involvement in team operations
Mentioned in this story
SporticoJoe LacobSan Francisco
The bottom line for Sportico‘s Invest West conference on Wednesday in San Francisco: Sports has never offered up so many business opportunities. Investors, team owners, venture capitalists and even San Francisco’s mayor engaged in lively conversations about topics such as women’s sports, building out the fan experience and some Bay Area boasts over its allure for sports.
The more than 150 guests packed into the exclusive setting at the Presidio Golf Course & Clubhouse heard insights on topics across the sports economy. Not an easy task to narrow our choices, but we are sharing 20 memorable observations from the stage.
The Biggest Misnomer in All of Sports: During the opening keynote conversation, Golden State Warriors co-executive chairman and CEO Joe Lacob decried the idea that franchise owners shouldn’t be involved in their teams’ operations or decision-making. He called it “the biggest misnomer in all of sports.” Added Lacob: “That’s ridiculous. In any business, if you’re not involved as the owner, I don’t care what business you’re in, it’s probably not going to succeed … So I am 100% committed to it. I do it full time.”
News on a NorCal Volleyball Investor: Venture capitalist Theresia Gouw, who is the lead investor of the new NorCal Volleyball club of Major League Volleyball, announced exclusively from the stage that former NBA player Zaza Pachulia is joining NorCal Volleyball as a founding investor.
Everything’s Bigger in Texas, Including Girls Volleyball: “There are more young girls and women who play volleyball right now in the state of Texas than there are boys who play football,” noted Gouw.
Big Game ROI: “Close to $500 million for Super Bowl,” San Francisco Mayor Daniel Lurie said while discussing the return on investment for cities hosting major sporting events.
Face-Painted Devotion: “Businesses like banks or airlines, they have customers. We have fans, fans who paint their faces purple,” Vivek Ranadivé, owner and chairman of the Sacramento Kings, said as he pointed out how team owners should not take their responsibilities toward passionate fans for granted.
Q&A
What were the key topics discussed at Sportico's Invest West conference?
Key topics included women's sports, enhancing the fan experience, and the overall sports economy.
Who were the notable attendees at the Invest West conference?
Notable attendees included investors, team owners, venture capitalists, and San Francisco's mayor.
What did Joe Lacob say about franchise owners' involvement in team operations?
Joe Lacob stated that it's a misnomer that franchise owners shouldn't be involved in operations, emphasizing that owner involvement is crucial for success.
Where was the Invest West conference held?
The Invest West conference was held at the Presidio Golf Course & Clubhouse in San Francisco.
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Keeping Everything Fresh: “Let’s get the land next to the ballpark,” Larry Baer, president and CEO of the San Francisco Giants, said, reflecting on developing new real estate to grow the fan experience. “We’re in the Disney experience business.”
Redefining the Bay Area: “There’s a chance, we’re not there yet, for the Bay Area to be known for sports just as much as it’s known for technology; that’s one of the things that excites all of us,” Jonathan Becher, president of Sharks Sports & Entertainment, said.
New Unicorn in Town: “We are social unicorns with the ability of teams to reach a billion people,” Ranadivé said, playing off the traditional definition of unicorn companies with a valuation of $1 billion or more.
Everything Is Better in Portland: “Portland is the global epicenter of women’s sports … Probably one of the only places in the world where the women’s sports teams are as popular as the men’s sports teams,” Alex Bhathal, owner of the Portland Fire and Portland Thorns, said.
Where You Need to Be: “If you’re in sports or you’re in business, this is the economic engine of the planet right now,” boasted Mayor Lurie.
Good News, Bad News: “We’ve got good news and we’ve got bad news. The good news is we just bought the team. The bad news is we just bought the team,” Baer, the Giants’ CEO, said as he recalled what investor Walter Shorenstein told him in 1992 when they learned their $100 million purchase of the Giants was green-lit, keeping the team in San Francisco and preventing a move to Florida.
Nothing Personal, Memphis: “It’s a lot easier to sell a player to come here than Memphis, so to speak. I could have picked any city, frankly,” Warriors GM Mike Dunleavy Jr. said. “When we’re dealing with players, whether it’s free agency, draft, trades, there is a sense of selling them to come here and to stay here … For me, in my own shoes, it’s a tremendous advantage to be able to sell the Bay Area.”
Upside of the Cap: “One thing that the NBA has gotten right—and I was on the other side of the table in CBA negotiations in my capacity at the Players Association—but having a salary cap has certainly helped NBA franchise values grow over the years. They’re guaranteed a certain limit to spending, and it’s so punitive with the different aprons, that those franchise values have grown,” said NBA veteran Roger Mason Jr., who sold his sports content IP company Vaunt last month to FSP.
QB Tanking: NFL quarterback coach and Therabody ambassador Jordan Palmer attributed hyperbaric chambers and playing video games on Xbox as the secret to your favorite QB’s success in his conversation with Therabody founder and chief wellness officer Dr. Jason Wersland.
Doubling Up on Women’s Sports: Speaking about owning both the Portland Fire and Thorns, RAJ Sports executive chairman Bhathal touted “being able to have two teams that can tap into this unbelievable demand for women’s sports and the culture of women’s sports, but with two distinct flavors.” Bhathal added that “the audiences are different … but the community is united in their love and passion for women’s sports.”
Getting It Right First: “You only get to introduce yourself once,” Jess Smith**,** president of the Golden State Valkyries, said on building trust for a startup team within a community. The Valkyries generated historic interest in their inaugural season and are already the WNBA’s most valuable franchise.
Lighting Up Star Power In LA: “LA has such great culture and vibe,” said Stacy Johns, president of the Los Angeles Sparks and previously CEO of Bay FC. “You have to have a team to live up to that. You have to tell the stories of the women who play for us. How can we create stars?”
Little Overlap: “Last year we saw 7% who were crossover fans. This year that was 8%,” Smith said on the overlap between the Valkyries and the Warriors fanbases.
Following ROI, Not People: “Not all VCs are people-focused,” Gouw said about the importance of understanding community when investing in teams.
Sponsors Matter: Big thank you our Invest West sponsors, Endava, Weil Gotshal, WestHealth, and to supporting sponsors Fifth Generation Sports and Waymo.
