Sports Ticker #142 - Rising rates hit clubs and the Enhanced Games’ merger milestone - a speed read of commercial updates from the sports world

In a fortnight that saw Lando Norris become the 11th British Formula 1 Drivers champion, the 2026 World Cup groups being drawn, and the sad passing of Celtic legend Dixie Deans, we bring you news of the UK’s bid to host the 2035 Women’s World Cup, the Enhanced Games’ new $1.2 billion valuation and the NASCAR antitrust trial set to change the face of the sport.

As always, if there are any issues on which you’d like more information (or if you have any questions or feedback), please do let us know or get in touch with your usual contact at RPC.

UK aims to bring football home (again) with bold 2035 bid
Following the groundbreaking European success of the Lionesses on English soil in 2022, the UK has submitted a bid to host the 2035 Women’s World Cup. The success of the uncontested bid would mark the first World Cup competition hosted in the UK in almost 70 years. The 2035 competition is forecast to be eight times bigger than Euro 2022. 22 stadiums were listed in the bid as potential venues including what will become England’s largest stadium, the new 100,000 seater Old Trafford. The hosting of the 2035 World Cup would mark a milestone for women’s football across the UK. A whopping 4.5 million tickets would be made available for fans, and the tournament would be the largest single-sport event ever staged in the UK. The successful bid is set to be announced in April 2026.

Financial injection: Enhanced Games to go public
The increasingly controversial Enhanced Games has announced plans to go public via a merger between its corporate entity, Enhanced Ltd, and Hong Kong-based SPAC, A Paradise Acquisition. The move, still subject to regulatory approval, would see the new multi-sport tournament become valued at $1.2 billion in the run up to its debut event in Las Vegas next May. Provided that there are no redemptions, the merger is set to bring in as much as $200 million in gross cash proceeds. The capital gains will offer a welcome safety net for organisers ahead of the inaugural tournament in 2026, which is set to offer an eye-watering prize purse of $500,000 per event. However, concerns remain about the premise of the project, which encourages athletes to “push the boundaries of human performance.” As covered in Sports Tickers #130 and #136, critics have posed questions about the risk to athletes’ health presented by use of performance enhancing drugs, and the dangers posed to fair play and sporting integrity.

R360 launch pushed to 2028 as rugby bodies raise concerns
The proposed global rugby series, R360, has delayed its debut by two years, with its board stating that a 2026 launch would not meet operational or commercial standards. World Rugby had yet to grant sanctioning of the tournament, raising concerns over event staging, calendar clashes and player release. The earliest approval point would have been June 2026 - only four months before the initial proposed start. The shift follows resistance from major stakeholders, including the British & Irish Lions, which has prohibited players from combining R360 participation with international duties (see Sports Ticker #138 for more). Similarly, Australia’s NRL has warned that any player who leaves the code for R360 would face a 10-year ban. The new 2028 timeline avoids clashing with the men’s Rugby World Cup and the first women’s Lions tour, though it now coincides with the planned 2028 Club World Cup - leaving its place in the schedule to be determined.

Great Britain steers to SailGP Glory: champions cash in on $2m Prize
Great Britain claimed their first SailGP championship in Abu Dhabi, winning the Grand Final and securing the $2 million top prize - part of $4.4 million earned across the season, underlining the league’s growing commercial scale. The winner-takes-all format featured the top three teams from the 14-event season, with Britain overturning Australia and New Zealand after a strategic split at the final upwind gate which delivered the defining breeze advantage. The British squad, led by driver Dylan Fletcher and supported by strategist Hannah Mills, entered the final as the most consistent performers and qualified top of the season standings. The competition is set to expand to 14 teams in the 2027 season, with three teams bidding for a place reportedly set at €100 million. Season six begins in January 2026 in Perth, as SailGP continues making headway into high-growth markets around the world. 

Premier League stadium valuations spark steep tax surge
Premier League clubs are bracing for hefty tax rises next year as stadium rateable values are set to increase drastically, after new business rates payment calculations announced in the Autumn Budget. Analysis of Valuation Office Agency (VOA) data by global tax firm, Ryan, found that the estimated annual rental value of stadiums across the top five English football divisions have increased to £111.74 million - a rise of 25%. According to the analysis, clubs including Arsenal and Manchester United may see rates rise by as much as £1 million. Regardless of the fact that it is currently in administration, Sheffield Wednesday also saw a 21% rise in rateable value. Explaining the increase, a Ryan spokesperson said the valuation “is driven entirely by income and operating performance.” The last revaluation was in April 2021 which reflected a period when stadiums were operating below capacity due to COVID-19, significantly reducing their income. 

Extra time...

…and finally, the NASCAR antitrust trial could lead to a restructuring of NASCAR as we know it. NASCAR teams Front Row Motorsports and 23XI Racing – co-owned by three-time Daytona 500 winner, Denny Hamlin, and basketball icon, Michael Jordan – accuse the racing association of running a monopoly that corners teams into complying with rules and financial arrangements. NASCAR, which has an estimated worth of $5 billion, is accused of suppressing innovation and profit amongst teams by requiring them to drive NASCAR's NEXT Gen cars and use pre-approved licensed suppliers for all repairs. One of the key issues at trial is NASCAR's revenue sharing model. 23XI and Front Row claim that whilst over $400 million was paid by teams to the France Family Trust, 75% of NASCAR teams lost money in 2024. Jim France, owner of NASCAR, fully denies all the claims made against the company.