Today, we’re delighted to welcome Richard Coleman to the show. Alongside one of our favourite previous guests Mr Guenther Steiner, Richard is the new co-owner and Team Principal of MotoGP team Tech3. This sport has had some big headlines since Liberty’s $4.9bn acquisition went through earlier this year. As the infamous owners of F1 who have played a major role in re-inventing the sport and making it one of the most popular and marketable entertainment products on the planet, it’s not hard to understand why the buzz has now spread to asking what it is that Liberty can do with MotoGP; a hugely popular and successful motorsport, but one that doesn’t have the global reach or brand power F1 has enjoyed.

In a world of massively inflating sports assets prices and the clamour for good deals and unique opportunities, do these racing teams present some of the most exciting sports business opportunities on the market? The parallels to F1 are obvious, but this is also very much a property with its own values, diehard fans, and a plan to capture the audience in a way that differentiates itself from four wheel racing. This a look at the big business of MotoGP and the big potential of Tech3.

Timestamps:

00:00 Intro

03:50 Liberty Media’s $4.9B MotoGP Takeover

10:04 Why MotoGP Is Undervalued

16:23 Can MotoGP Fix Its Competitive Imbalance?

20:02 How to Run a MotoGP Team Sustainably

22:38 How MotoGP Teams Make Money

26:52 The New Wave of Sponsors in MotoGP

29:12 How MotoGP Can Create Global Superstars

35:10 Can MotoGP Grow Without Losing Its Core Fans?

42:47 The Core Risks Behind Investing in MotoGP

46:09 Inside The Media Rights Structure

47:45 The Attention Economy & Youth in Motorsport

51:56 What Makes The Best Riders?

52:42 Why Riding a Bike Is Harder Than Driving an F1 Car

54:00 Health & Safety in MotoGP

01:00:29 Quick-Fire Round

On today’s show we discuss:

1. The Business of MotoGP:

• How the $4.9bn Liberty Media acquisition has transformed the outlook for MotoGP and why the new owners are betting they can replicate the Formula One boom.

• What this means for valuations across the grid, and how teams like Tech3 are transitioning from racing outfits into full-scale businesses and global entertainment brands.

• Why Richard believes MotoGP is one of the most undervalued sports assets in the world today.

2. Inside the Tech3 Acquisition:

• The story behind Richard and Guenther Steiner’s joint purchase of the Red Bull KTM Tech3 team.

• The financial realities of running a race team: from start-money payments to manufacturer support and sponsorship structures.

• Why the goal isn’t just to compete on track, but to build a sustainable commercial operation behind it

3. Building Global Reach:

• Why the sport must expand beyond Southern Europe to truly go global and the opportunities and risks that come with it.

• How MotoGP can attract younger and more diverse audiences, develop riders from new regions, and create stars with global recognition.

• The importance of telling the human stories. The “gladiators of the modern age” risking everything on two wheels

4. Safety, Technology & the Human Element:

• How MotoGP is balancing spectacle with safety through better circuits, tech innovations, and airbag suits.

• Why confidence, courage, and connection matter as much as engineering and how the sport can make its heroes household name

• The unseen dangers of racing at 230+ mph and the deep bond between riders and their crews.

A huge thank you to our amazing partners on the show:

Stryde

Bringing sports investment opportunities to your door. Visit http://www.gostryde.com to become part of the movement!

This week we’re delighted to welcome Graeme Le Saux to the show. A Chelsea, Blackburn and England icon, Graeme played over 500 club games, 327 of them in the Premier League, as well as 36 caps for England. There was more than enough in here to just enjoy some unparalleled sporting nostalgia, from Blackburn’s insane Premier League title to playing in the infamous David Beckham red card match at the 1998 World Cup.

But you know that’s not our style; what Graeme brings to this conversation is both a reflection on his experiences handling the turbulent world of a footballer alongside the more macro issues facing the game. He did have a different background, different interests, and unique way of approaching the celebrity that comes with football. Having been a record transfer for a defender when he moved to Chelsea for £5.5m in 1997, he also gets what it is to play with expectation and pressure that can humanise players we fans often treat as emotionless machines.

It touches on many of the key points we always look to build on, from asset inflation and club overspending to the responsibility of player education. A special player with a special outlook on both football and life as a top level athlete…and as you’ll no doubt lock onto he brought a big dose of humour to accompany it.

Timestamps:

00:00 Intro

05:28 How the PL Has Changed Since Graeme Played

09:25 The Reality of Changing Teams

13:08 Is It the Club’s Fault When Talent Leaves for Free?

14:36 Are Players Now More Valuable Than Clubs?

16:33 How Signing-On Fees Change Transfers

24:22 Are Football Clubs Passion Projects or Investments?

26:47 How Big Was Abramovich’s Arrival in the Dressing Room?

29:56 Thinking About Finances While Playing

43:26 Why Many Players Struggle Financially After Football

51:01 If I Could Change One Game

54:43 The Added Pressure of Social Media on Players

59:23 What It’s Like Covering the Premier League in America

01:00:39 The Future of MLS

01:05:15 Quick-Fire Round

In Today's Episode We Discuss:

1. Life at the Start of the Premier League:

• What it was like to play before and after the birth of the Premier League.

• How TV money and sponsorship transformed football into the global powerhouse it is today.

• The pressure of record transfer fees and why Graeme struggled at first to justify being Britain’s most expensive defender

2. Transfers, Contracts & the Media:

• How moving clubs is about more than football, from dressing-room dynamics to family upheaval.

• The realities of modern contracts, signing-on fees, and bonuses.

• Why players today hold more power than ever, and what that means for clubs facing Bosman deals and free transfers

• How social media has changed the scrutiny players face, both positively and negatively.

3. Blackburn’s Title & Chelsea’s Rebirth:

• Inside the story of Blackburn’s Premier League win and why money alone wasn’t the reason for their success.

• What really happened in the final days before Roman Abramovich bought Chelsea and how one game against Liverpool effectively saved the club from administration.

• Why investment can change a club’s fortunes but only if combined with identity, culture, and the right management.

4. Education, Identity & Life After Football:

• Why Graeme refused to conform in the dressing room and why he’s proud he stuck to his values even when it made life harder.

• The importance of education and broader interests for young players, and why football needs to do more to support life beyond the pitch.

• The shock of retirement, coping with irrelevance, and why building purpose and relationships off the field is essential.

• A huge thank you to our amazing partners on the show:

  Stryde

  Bringing sports investment opportunities to your door. Visit ⁠https://www.gostryde.com/ to become part of the movement!

  
  

When we recorded this show the day before James flew out to Baku, we did not expect Williams to be up on the podium delivering in real life what James was theoretically describing to us on the show. Podiums are of course part of the development plan, but not yet.

When James came to see us at Business of Sport HQ last week, we talked through both what he has done to position the team for future success, and what he still needs to do. In a sport that requires so many minds pulling together, utilising a vast array of talents, the prospect of building what is popularly termed as ‘winning culture’ could seem daunting; where do you even start? For James, it was recognising that even in a sport of technology and science, people and culture are what makes you win.

This weekend’s result would place Williams ahead of where James has set expectations. But don’t get me wrong, this result in Baku will have been celebrated in the halls of Grove, because no matter how long term the strategy for success is, these wins you pick up on the way are integral to showing the team that what they’re doing is on the right path, and from James’ perspective (though he’d never look at it like this) that he’s the man to deliver for them. This is James Vowles on the business of Williams and F1…and a taste of what’s to come.

Timestamps:

00:00 Intro

03:54 Rebuilding Williams Through Culture

07:18 Balancing Past Success with a New Identity

10:54 Williams’ Long-Term Plan for Success

17:31 What Vowles Brings to Sainz & Albon

22:35 Can Money Alone Deliver F1 Success?

25:22 Does Losing Money Matter in F1 Ownership?

28:23 Turning Heavy Investment Into Performance

30:45 Williams’ New Revenue Streams

34:25 How Teams Compete for the Same Sponsors

37:37 Will Formula 1 Control Its Own Platform

41:30 Overcoming Challenges as a New Team Principal

46:10 The Mediafication of F1 Leadership

47:30 Quick-Fire Round

In Today's Episode We Discuss:

1. Rebuilding Williams from the Ground Up:

• Why James left the comfort of Mercedes to take on the challenge of reviving one of Formula One’s most historic but struggling teams.

• How he discovered Williams was “a bankrupt organisation” on arrival and why he likens it to running a 50-year-old startup.

• The long-term plan to make Williams both competitive and profitable again by 2028, balancing heavy investment with financial discipline

• How James is instilling accountability, long-term thinking, and a “break everything” mindset to push the team beyond survival.

  
  

2. The Culture of Performance:

• The importance of ego-free leadership from drivers like Alex Albon and Carlos Sainz in shaping a winning environment

• The real split between car and driver performance and why drivers remain the best “sensors” for development.

• What James learned from working with Schumacher, Rosberg, and Hamilton, and how those lessons are applied to Albon and Sainz today.

• Why humility, confidence, and resilience separate the very best drivers from the rest

  
  

3. The Business of F1:

• The realities of cost caps, sponsorship, and commercial growth in modern F1.

• Why Williams’ sponsorship strategy is about authentic partnerships, not stickers on a car and how deals like Atlassian reflect the team’s values.

• James’ candid view on asset values, media rights, and how F1 must evolve its broadcasting model to engage younger fans

  
  

4. The Future of the Sport:

• Why two-day race weekends could be the future, and how unpredictability makes F1 compelling.

• His view on an 11th team, the balance of tradition versus innovation, and how Netflix and Drive to Survive changed the sport’s global appeal.

• What excites him most about the years ahead: leaving a lasting legacy at Williams and returning the team to the front of the grid.

  
  

  A huge thank you to our amazing partners on the show:

  Stryde

  Bringing sports investment opportunities to your door. Visit www.gostryde.com to become part of the movement!