Latest news with #TomWagner
BBC News
09-06-2025
- Business
- BBC News
Phoenix investor Wagner has 'confidence' in deal
Birmingham Phoenix's US investor Tom Wagner says he has "every confidence" a deal for the Hundred franchise will be finalised, and he remains "committed" to the of shares in the eight teams, worth around £520m, were announced by the England and Wales Cricket Board (ECB) in an eight-week exclusivity period to agree terms was extended in March, and there remains no clarity on when contracts will be Knighthead Capital agreed to pay £40m for a 49% share in the speaking publicly about the reasons behind the delay for the first time, the American told BBC Sport: "What everybody wants is the ability to make The Hundred even more commercially viable and to grow the product."It really should see more exposure globally, so I think a number of the conversations are around how that happens and what timeframe, how that moves forward."There's a good alignment of interests and, as is the case with any negotiations, there's always a bit of back and forth."There is no suggestion that any of the deals will fall through, however there is the possibility they will not be completed before this year's edition begins on 5 ECB confirmed the extension of the exclusivity period more than two months the time, the prospective buyers of the two London franchises raised concerns over the competition's participation American consortium of tech billionaires agreed to pay £145m for a 49% stake in Lord's-based London Spirit, while India's richest family - the Ambanis - purchased the same stake in the Oval Invincibles for £60m. There have also been discussions over the sale of future TV rights. The current United Kingdom TV deal, principally held by Sky, expires in 2028. When it is renegotiated, rights for The Hundred will again be sold as a complete package, rather than separated from international and other domestic TV rights, seen as a key area of growth, are piecemeal. Deals for separate competitions or series arise at different added: "I won't comment on the specific negotiations but what I will say is we're very excited at the prospect of investing in the Phoenix."We're committed to it, we're excited by it and I have every confidence we'll get to closing."The Knighthead Group also includes legendary NFL quarterback Tom Brady. They are already owners of Birmingham City, and last week the prospect of a new 62,000-seater stadium as part of a £3 billion 'Sports Quarter' took a significant step forward when the government confirmed £2.4bn investment in transport who founded Knighthead, said: "We think it's a fantastic opportunity. It shows our commitment to Birmingham, beyond simply Birmingham City Football Club."We really, genuinely want to see Birmingham continue to develop and grow. The Phoenix is a great way to expand the exposure of the city to a broader, more global audience. It's also a way for us to tie-in to the substantial south Asian community that is here in Birmingham."Proceeds from the sales will be shared among the 18 first-class counties, Marylebone Cricket Club and the domestic game in England and ECB will retain overall control of the competition, but investors could change the name, colours and branding of their teams. The American investor in Welsh Fire has already said he would prefer The Hundred to switch to a T20 if deals are completed before the beginning of the 2025 competition, there is little change expected this year. Both the ECB and the investors see it as a transitional season.
Yahoo
04-06-2025
- Business
- Yahoo
Birmingham aim to reach Premier League next year
Birmingham City chairman Tom Wagner says the club are targeting successive promotions and reaching the Premier League next year "is certainly the goal". The League One champions broke the EFL record for most points in a season in 2024-25, and the American businessman told BBC Sport he wants the club to return to the top flight "as quickly as we can". Advertisement With plans for a new stadium handed a major boost on Tuesday, after the government confirmed investment in local transport links, Wagner believes the Blues will be "highly competitive" in the Championship. And he says that is because the club's commercial revenues will be "very close to, if not in line with" those of rivals in receipt of parachute payments. Leicester City, Southampton and Ipswich Town will each benefit from almost £50m next season, having been relegated from the Premier League. Birmingham spent £25m after dropping down from the Championship last year, and Wagner vowed to be "very active in the transfer market" this summer in a bid to build on the progress under "exceptional" manager Chris Davies. Advertisement He added he is open to the idea of clubs playing some cup matches overseas as a means of growing an international fanbase. 'Unique opportunity' A "thrilled" Wagner was speaking after his hopes for a new 62,000-seat stadium to replace St Andrews took a significant step forward, with government funding for a new tramline to a planned £3bn 'Sports Quarter' in the east of the city. The club's owners, US investment firm Knighthead Capital - which Wagner founded - wants to build a 125-acre sports and leisure complex on abandoned land in Bordesley Green, and have been trying to persuade ministers to grant the West Midlands billions of pounds to fund new transport links for the regeneration project. Advertisement Now that has been achieved, he says the aim is for the "transformative" Sports Quarter - which will also include a 20,000-seat arena, hotel and training complex for the club's men's, women's and academy teams - to be open by 2030. "We needed the transport links to ensure the site was viable," said Wagner. "This will be an entertainment venue unlike many others in the world." "We have a unique opportunity. If you look across western Europe you'd be hard pressed to find another city with that much land available... where a project of this magnitude could be created. Advertisement "This will be a venue that is used 365 days a year, we'll create 8,500 jobs... the goal would be to host a whole range of international events, not solely football but American football, rugby." Seven-time Super Bowl champion Tom Brady is a minority owner of Birmingham City. When asked if there was a risk that the new stadium would result in higher ticket prices for supporters, Wagner said: "If you price out the fans that are here you have different people sitting in the stands, you lose the singing, you lose the passion and then you've lost your product. "We have to remember this is a club of the people and that means the solution for growing commercial revenue is not solved through ticket prices, it's solved through making a better product." Advertisement Last year, Birmingham City's former chief executive Garry Cook said it would be "a great idea" if they played a league match against fellow US-owned club Wrexham on American soil. "I don't think that it makes sense to do it necessarily with regular-season matches," said Wagner. When asked what he thought about potentially playing some domestic cup matches in the US, he said: "It's something that has to be thought of. "When you think about the top-tier clubs in the Premier League, they're competing globally, which means that they have to have global fans and global-scale revenue, and if that means playing some matches overseas to create more following and revenue for the club I think that's a good thing. Advertisement "You have to find a way to do it that doesn't take away from your local community, so it's very much a balancing act. There's a very fine line that needs to be walked there, but I think for the top clubs it's something that has to be seriously considered. "Perhaps there's a different tournament, or something that happens that allows for that, maybe at a different point in time in the season. There's a whole series of ways that could be pursued beyond simply the pre-season tours." When asked what assurances he could give to fans concerned about the number of English clubs now controlled by US investors, Wagner said: "The reason Americans are drawn to investing here is because it's English football. "If we 'Americanise' it, then it's lost everything that drew people here in the first place."
BBC News
04-06-2025
- Business
- BBC News
Birmingham aim to reach Premier League next year
Birmingham City chairman Tom Wagner says the club are targeting successive promotions and reaching the Premier League next year "is certainly the goal".The League One champions broke the EFL record for most points in a season in 2024-25, and the American businessman told BBC Sport he wants the club to return to the top flight "as quickly as we can".With plans for a new stadium handed a major boost on Tuesday, after the government confirmed investment in local transport links, Wagner believes the Blues will be "highly competitive" in the he says that is because the club's commercial revenues will be "very close to, if not in line with" those of rivals in receipt of parachute payments. Leicester City, Southampton and Ipswich Town will each benefit from almost £50m next season, having been relegated from the Premier spent £25m after dropping down from the Championship last year, and Wagner vowed to be "very active in the transfer market" this summer in a bid to build on the progress under "exceptional" manager Chris added he is open to the idea of clubs playing some cup matches overseas as a means of growing an international fanbase. 'Unique opportunity' A "thrilled" Wagner was speaking after his hopes for a new 62,000-seat stadium to replace St Andrews took a significant step forward, with government funding for a new tramline to a planned £3bn 'Sports Quarter' in the east of the club's owners, US investment firm Knighthead Capital - which Wagner founded - wants to build a 125-acre sports and leisure complex on abandoned land in Bordesley Green, and have been trying to persuade ministers to grant the West Midlands billions of pounds to fund new transport links for the regeneration that has been achieved, he says the aim is for the "transformative" Sports Quarter - which will also include a 20,000-seat arena, hotel and training complex for the club's men's, women's and academy teams - to be open by 2030."We needed the transport links to ensure the site was viable," said Wagner."This will be an entertainment venue unlike many others in the world.""We have a unique opportunity. If you look across western Europe you'd be hard pressed to find another city with that much land available... where a project of this magnitude could be created."This will be a venue that is used 365 days a year, we'll create 8,500 jobs... the goal would be to host a whole range of international events, not solely football but American football, rugby."Seven-time Super Bowl champion Tom Brady is a minority owner of Birmingham asked if there was a risk that the new stadium would result in higher ticket prices for supporters, Wagner said: "If you price out the fans that are here you have different people sitting in the stands, you lose the singing, you lose the passion and then you've lost your product."We have to remember this is a club of the people and that means the solution for growing commercial revenue is not solved through ticket prices, it's solved through making a better product."Last year, Birmingham City's former chief executive Garry Cook said it would be "a great idea" if they played a league match against fellow US-owned club Wrexham on American soil."I don't think that it makes sense to do it necessarily with regular-season matches," said asked what he thought about potentially playing some domestic cup matches in the US, he said: "It's something that has to be thought of."When you think about the top-tier clubs in the Premier League, they're competing globally, which means that they have to have global fans and global-scale revenue, and if that means playing some matches overseas to create more following and revenue for the club I think that's a good thing."You have to find a way to do it that doesn't take away from your local community, so it's very much a balancing act. There's a very fine line that needs to be walked there, but I think for the top clubs it's something that has to be seriously considered."Perhaps there's a different tournament, or something that happens that allows for that, maybe at a different point in time in the season. There's a whole series of ways that could be pursued beyond simply the pre-season tours."When asked what assurances he could give to fans concerned about the number of English clubs now controlled by US investors, Wagner said: "The reason Americans are drawn to investing here is because it's English football."If we 'Americanise' it, then it's lost everything that drew people here in the first place."
The Sun
04-06-2025
- Business
- The Sun
‘A huge step forward' – Championship club get update on new £3billion stadium as incredible concept video is released
FANS are hailing "monumental" progress in a Championship club's £3bililion scheme for a new stadium and community hub. Birmingham City released a concept video of a massive complex - as NFL legend Tom Brady 's dreams in a different version of football moved a step closer to reality. 5 5 5 5 Minority shareholder Brady and Blues' owners Knighthead plan to follow an incredible season on the pitch with jaw-dropping developments off it Birmingham romped back to the second-tier by amassing 111 points as big-spending League One champions. That was 19 points clear of Ryan Reynolds ' Wrexham in second place. Now the club have released a clip with awesome transport links to a futuristic 62,000-seat stadium likened in the past to a "spaceship". One side of a blue-walled, smoothly-curved stadium is shown, with sweeping views of tree-lined walkways and rail links. One viewer claimed on X: "People will be coming from all corners of the country to take in the view." Another veteran supporter posted: "After 70 years of suffering mainly heartache it's just my luck to be on the downward slope now that #BCFC are finally on the way to the top with the best owners in its 150 year history. Today's funding confirmation has given me a purpose in life. Thanks TW." 5 Those initials are a reference to Knighthead's co-founder and Blues' chairman Tom Wagner, who has described the go-ahead for travel connections as a "huge step forward for the Sports Quarter". An estimated £2.4bn Government investment in local transport will be used to extend the area's Metro to the proposed new venue. Tom Brady tells owner rival Rob Mcelhenney 'shame on you' after giving away his touching gift That's kickstarted the whole £3bn scheme, with the first phase set to be finished by 2029. Meanwhile, the club say "the extension of Birmingham City Centre to East Birmingham will help unlock the future of the development" - including creating around 10,000 jobs. Fans seem thrilled by the transport links. And after seeing the club's video, one supporter wrote: "Love the stadium design as well guys it's gonna look mint." Wagner said: 'The Chancellor's undertaking to upgrade transport links in East Birmingham is a huge step forward for the Sports Quarter. "It gives us the springboard we need to advance this transformative project at pace, bringing huge benefits to the people of East Birmingham and the wider region in the shape of jobs and opportunities, as well as economic growth that will be felt across the whole of the UK.' Last month Wagner had also unveiled plans to provide outstanding training facilities for the club's academy players "unlike any other that exists in European football". And Blues' interim CEO Jeremy Dale spoke of "creating jobs, building infrastructure for our local community, and creating a world-class sporting venue that will put Birmingham on the map".
BBC News
04-06-2025
- Business
- BBC News
West Midlands 'economic transformation' with £2.4bn funding
Mayor Richard Parker said plans are already in place to deliver metro links in Birmingham, as £2.4 billion investment for the West Midlands was announced by Chancellor Rachel funding, announced before the government's spending review next week, will go towards extending services from the city centre to the new sports Parker told the BBC that the money, matched with the £3 billion investment from private investor Tom Wagner, will help create links to the city for some of its most deprived areas. He said it would create up to 8,000 jobs as part of an "economic transformation" that he has always been committed to delivering. Mr Parker told BBC Radio WM: "Its fantastic news, it's a great day for the city and for the region."We've been to number 10 Downing Street, we've met with the Transport Secretary, and we put the case forward with conviction."The new transport link will connect the community to where the opportunities are, where the jobs are - this is just the start of it."He also said the investment would "unlock" the transport commitments he's made, adding: "It'll be paying for itself three or four times over, and the uplift will be given to some of our most disadvantaged communities in East Birmingham."The BBC understands a further £250 million will be awarded by the government next week. Speaking on the timeline of the plans - which would connect the city centre to the HS2 at Curzon Street, through Digbeth and up to the sports quarter - Mr Parker said the work on planning has already agreement with HS2 is already in place to begin tunnelling under Curzon Street to move the metro from the city centre, he the project is "a couple years away from significant progress", Mr Parker said there was no shortage of "commitment or conviction". An outline planning application is due to be submitted in the autumn. Mr Parker said: "There's going to be action on a multiple number of fronts to deliver the project as fast as possible."Andrew Carter, Chief Executive of Centre for Cities, said the announcement reflected a "welcome shift" toward a city region-led said: "Investment in the transport networks of our city regions is a critical step toward boosting local economies, by helping people access jobs and education opportunities more easily." Follow BBC Birmingham on BBC Sounds, Facebook, X and Instagram.
