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Forbes
a day ago
- Business
- Forbes
The Future Of Women's Pro Soccer Is Being Built In The Heart Of Kansas City
Angie and Chris Long have a luxury suite at CPKC Stadium, the new home of the National Women's Soccer League's Kansas City Current, but for the couple of hours before a game, they like to roam the grounds—walking the concourse, visiting the supporters' section or chatting up fans at a sponsored bar. 'There's a lot of gratitude involved in this, so you want to share that,' says Chris Long, who with his wife bought the franchise in 2020 and privately financed the construction of the $140 million stadium. The Longs, who in their day jobs oversee more than $34 billion in investments as cofounders of Palmer Square Capital Management at the firm's office seven miles away, recognize that CPKC Stadium is hardly just another building. When it opened in March 2024 along the banks of the Missouri River just north of downtown Kansas City, it was the first venue in the world developed primarily for a professional women's sports franchise. And while that milestone would be impressive enough on its own, the value that the 11,500-seat stadium has unlocked for the Current has been nothing short of transformative. The team, which previously played at Children's Mercy Park as a tenant under MLS's Sporting Kansas City, saw a 'more than $20 million revenue swing' in its first season at its new home, Angie Long says. By bolstering business lines such as premium seating and tapping into new streams, including concessions, naming rights and third-party events, the Current generated $36 million in revenue in 2024—the best mark in the NWSL and nearly quadruple the league's median of $9.5 million, according to Forbes estimates. The club is now worth an estimated $275 million, second only to $280 million Angel City FC despite playing in the fourth-smallest market in the 14-team league. The way the Longs see it, the growth has only just begun. The Current purposely held back in certain areas last season—limiting the number of non-NWSL events they hosted to keep the field pristine, for instance, and retaining some sponsorship assets until they had a better handle on what they were selling. With those guardrails being lifted, the franchise is projecting $45 million in revenue in 2025. The Current also believe they can reach break-even on an operating basis this year—a goal that remains far out of reach for most NWSL clubs. 'We're scratching the surface in every single way,' says Angie Long, a Kansas City native. That bright future is even more remarkable considering Kansas City's previous attempt at professional women's soccer was a resounding failure. FC Kansas City began play in 2013 as one of the NWSL's inaugural eight franchises, but despite winning back-to-back league titles in 2014 and 2015, the team soon fell into disarray under Elam Baer, CEO of Minnesota-based investment firm North Central Equity, who bought the franchise in 2017. The same year, the NWSL bought back FC Kansas City and ceased its operations, transferring the rights to the club's players to the Utah Royals, an expansion franchise. The Royals came back on the market in 2020, however, after the Athletic detailed team owner Dell Loy Hansen's history of racist comments. The Longs, keen on getting into soccer in the wake of the 2019 Women's World Cup, partnered with Brittany Mahomes and her famous husband, Kansas City Chiefs quarterback Patrick Mahomes, to secure another NWSL expansion slot along with the rights to Utah's players, for a reported $3 million fee. The group immediately moved the franchise back to Kansas City and into Legends Field, which once housed MLS's Kansas City Wizards (now known as Sporting KC) and is the regular home of an independent baseball team. Revenue was a paltry $3 million for the club's first season, in 2021—an era when NWSL franchise values were still below $5 million, before Michele Kang reset the market with her $35 million purchase of the Washington Spirit in 2022. The modest beginnings didn't stop Kansas City's ownership from looking ahead. 'The facilities were always part of the master plan,' says Chris Long, whose team left Legends Field for Children's Mercy Park for the 2022 and 2023 seasons. 'We were always looking at risk and return, and we quickly figured it out, and I don't think it's too profound that facilities are a massive piece of the puzzle when it comes to really running a world-class franchise. What club out there that's been successful doesn't own and run their own facilities?' The Current announced plans for what would become CPKC Stadium in October 2021 and broke ground in March 2022, three months before opening an $18 million training facility 10 miles away in Riverside, Missouri. Railway company Canadian Pacific Kansas City bought the naming rights to the new venue in a 10-year deal, and in front of a sellout crowd, CPKC Stadium opened in March 2024 with the Current claiming a 5-4 victory over the Portland Thorns. The move didn't mean the Current could sell more tickets: Children's Mercy Park has a listed capacity of 18,467, roughly 7,000 more seats than CPKC Stadium has. But with higher prices across both single-game offerings and a robust season-ticket base of more than 8,000, the club more than doubled its ticket revenue in 2024 and sold out every match. The new stadium also features 12 luxury suites, which are priced at $110,000 per year and quickly sold out on eight-year contracts, and roughly 1,300 total premium seats, including 'loge boxes' and communal clubs. The stadium's design would allow for future expansion, which Angie Long predicts could happen in the next five to seven years. For now, though, the Longs want to cultivate a lively atmosphere and a feeling of exclusivity, pointing as an example to 9,314-seat Cameron Indoor Stadium, the home of Duke University basketball. And at the moment, CPKC's medium size is helping it carve out a niche in attracting non-NWSL ticketed events. For instance, the stadium played host to an international rugby match in March and drew an announced crowd of 10,518, a record for a U.S. women's national team match on American soil. It was also good marketing: More than 70% of the fans in attendance were visiting the venue for the first time. The benefits of the new stadium go beyond ticketing, however. The Current have seen similar growth with their sponsorships, adding premium partnerships with brands including Yeti, and having a permanent team store on site has driven up merchandise sales. 'You have ownership of so many more revenue streams, and you have ownership of your data,' says Laura Andriani, an executive at sports marketing agency Two Circles. 'Everything from the first marketing touchpoint to the survey a ticket buyer receives the day after going to a match and everything in between is now fair play for you to connect, understand and enhance the experience of your fan, which is ultimately going to enhance your revenues. So owning that entire ecosystem is wildly valuable.' Fan Favorite: Led by star midfielder Debinha, the Current sold out every match in 2024 and have a season-ticket base of more than 8,000. Jamie Squire/NWSL/Getty Images Despite that upside, most other NWSL clubs would face plenty of hurdles trying to replicate the Current's model—among them, finding the land, adhering to city and state regulations, and securing the money to fund the project—particularly with many franchises still posting annual operating losses of $10 million or more, according to Forbes estimates. Kang, the billionaire owner of the Washington Spirit, explored the possibility of building a stadium for her club, which is currently a tenant of MLS's D.C. United at Audi Field, but with so many existing venues in the area, she had to ask herself, 'Does the city really need another stadium?' 'I'm not a real estate developer,' Kang explains. 'My focus is going to be really growing women's sports, and I'm not going to get rich by game day, selling tickets.' Even Angie Long acknowledges that a franchise can be successful without owning its stadium. In fact, Angel City, which plays at Los Angeles' BMO Stadium as a tenant of MLS's LAFC, nearly matched the Current with revenue of $35 million in 2024, thanks in large part to an impressive stable of corporate sponsors. At the same time, the Current's unique situation has the Longs projecting revenue to climb by more than 25% annually, which should widen their financial advantage on most of their NWSL competitors, and a mixed-use development sprouting up around CPKC Stadium could fuel even more growth. The privately financed $1 billion project, which started construction in March, will add bars, restaurants, hotels, offices and residential space to the surrounding 23 acres in a three-phase process, the first of which is expected to be completed next year. The increased foot traffic could drive up the price of partnering with the Current—for example, a study by Klutch Sports Group and the Royal Bank of Canada found that these types of projects raise the value of naming rights deals by 58% when the venue and accompanying district are sold together. The Current's success certainly has other NWSL ownership groups paying attention—and changing expectations for how the league does business. Denver, which in January was awarded an expansion franchise for a $110 million fee, has publicly announced plans to build a 14,500-seat stadium. Boston Legacy FC, which won its expansion bid in 2023 and will begin play alongside Denver in 2026, has committed to a $200 million renovation of the existing White Stadium, splitting the cost with taxpayers (although a lawsuit has aimed to stop the project). Commissioner Jessica Berman has said she believes the NWSL could grow as large as the 32-team NFL, and as it contemplates future expansion, the league office recognizes the value that comes with team-controlled stadiums—not only in terms of revenue but also in the better broadcast windows a team can claim for its schedule when it isn't having to negotiate with a landlord for certain dates or times. Infrastructure will be a major consideration in expansion bids going forward, along with factors like the market and the credentials of the ownership group. To be sure, the NWSL is a long way away from matching established men's pro leagues, where having a world-class stadium is often taken as a given, but the Longs already believe that what they have accomplished in Kansas City will eventually be the league's standard, rather than an exception. 'It's raised the bar,' Chris Long says. 'I think the trend is just beginning.'
Daily Mail
5 days ago
- Business
- Daily Mail
Are you rich enough to get a free £500 Selfridges shopping trip with your HSBC account?
HSBC has launched a switching deal to entice wealthy customers to switch to its Premier Account. The offer is only available to those who pay a salary of £100,000 into the account. And those who switch to HSBC's Premier account will get not get a cash bung as with usual bank switching incentives… but a £500 Selfridges voucher and the option to have a VIP shopping experience instead. HSBC relaunched its premier account in February and the bank made no bones about the fact it is trying to attract affluent customers. The bank said: 'The offering echoes the demands of affluent customers for services that support and enhance their lifestyle.' To get the £500 Selfridge's voucher, new customers must complete a full switch to HSBC's premier account through the Current Account Switch Service (CASS) by 12 August. A salary of £100,000 minimum must be paid into the account directly by customers' employers by BACS. At least two direct debits must also be transferred as part of the switch The monthly salary payments and two direct debits must be maintained until 31 October to get the voucher. Customers must not have had a HSBC account or First Direct account already to be eligible for the switching deal. If customers are eligible, they will be sent an email to claim the Selfridge's voucher on 9 November. Customers can opt for a VIP shopping experience at one of the four Selfridges UK stores in London, Birmingham, Manchester Trafford, and Manchester Exchange Square. The VIP experience includes access to the Selfridge's Lounge and a complimetary drink as well as the £500 voucher. Customers can also choose to take the £500 voucher without the shopping experience. The bank account has no monthly fee and comes with perks ranging from GP appointments to free worldwide travel insurance. Customers will be able to access online health services through a new HSBC Health app, including digital GP appointments, remote physiotherapy and mental health support. Travel perks like free worldwide family travel insurance with cover for dependents travelling up to age of 23 are also offered with the acount, as well as referential rates on foreign exchange and international payments. HSBC Premier customers can also get wealth management advice and preferential rates on savings and mortgages. Premier banking boom There has been a small boom in banks offering premier current accounts in a bid to attract the money of wealthy customers, which in turn gives them the ability to try and tap into that wealth to sell other services, such as investments. Last week Lloyds Bank launched its premier account geared towards wealthy customers with an income, savings or investments of at least £100,000. Jo Harris, of Lloyds, said: 'Lloyds Premier is a strategically important milestone in our growth ambitions for affluent customers - a part of the market where we have historically been under-represented.' Customers can also get the account if they are able to fund it with £5,000 a month. The monthly account fee of £15 will be refunded each month a customer meets the eligibility criteria. It too comes with a range of perks, which Lloyds claims to be worth £100 month. It offers GP and wellbeing services, lifestyle benefits, travel perks, cashback, discounted mortgage rates and appointments with financial coaches. The Bupa Family GP subscription service provides access to online GP and nurse consultations, online physiotherapy sessions and online mental health treatment sessions. It also comes with 1 per cent cashback on debit card spending, capped at £10 each month. Meanwhile, Barclays' Premier account lets customers earn up to 15 per cent cashback on eligible card transactions with a Barclays Visa debit card linked to a Cashback Rewards account. Customers need to earn at least £75,000 or have £100,000 savings or investments to qualify for the Barclays deal. NatWest also has a premier account which requires customers to have an annual income of £100,000 To qualify, you also need a mortgage, investment, life insurance or protection policy with the bank. Customers can also qualify with the same sum in savings or investments, or a half a million pound NatWest mortgage. In return, customers get worldwide family travel insurance, exclusive airport lounge service and a premium 24-hour helpline.
Yahoo
27-05-2025
- Business
- Yahoo
KC Current owners Angie and Chris Long expand to multi-club model, purchasing Danish club HB Koge
Kansas City Current owners Angie and Chris Long are expanding their global soccer footprint, acquiring HB Køge Women, a top-flight Danish women's soccer club competing in the country's highest division. The Longs made the purchase through their investment firm, Ballard Capital. The Longs worked with the seller, George Altirs, and his team at Capelli Sport to separate the women's team from the men's side, allowing them to buy only the women's club. Washington Spirit owner Michele Kang did the same with French women's club OL Lyonnes in 2023, as did Chelsea when it sold its women's team to sister company BlueCo earlier this year. Advertisement The Longs did not set out to build a multi-club organization when they invested in Kansas City Current, but those plans have changed. 'We were looking for a place where we can integrate with the community and build this together,' Angie Long told . 'It is something that we've loved about what we've done in Kansas City, and finding a location where we felt we could attract and develop talent was really important. Denmark, and Køge especially, we think really offer that opportunity.' Founded in 2009 through the merger of KøgeBøldklub and Herfølge Bøldklub to become HB Køge Pigefodbold, the club won the championships three straight seasons from 2021 to 2023. The club also competed in the UEFA Women's Champions League during that time. HB Køge plays its home matches at the Køge Stadium, which it shares with the men's side. The stadium is currently under renovation, paid for by the previous owners. Advertisement With the investment from the Longs, the club is planning to build a women's youth soccer academy in Scandinavia. The couple is also planning to make a significant investment in the business side to build franchise value over time. 'We think there are so many opportunities to elevate the community and the team to continue to compete at a really high level on the football side,' Chris Long said. The amount of the investment was not disclosed, but a Current spokesperson told the deal represents one of the most significant women's sports transactions in Denmark history. The Longs became interested in owning a women's soccer team after the 2019 FIFA Women's World Cup. A little over a year later, they teamed up with former soccer player Brittany Mahomes and her husband, NFL quarterback Patrick Mahomes, to make their vision come true. Advertisement The group announced they had purchased the Utah Royals FC from Dell Loy Hansen and moved the NWSL club back to Kansas City. The team began play in the 2021 season and rebranded as the Kansas City Current in 2022. The following year, the Longs funded the construction of a $120 million venue, CPKC Stadium, which opened in 2024. The Current is the most financially successful team in the league with $36.3 million in revenue, according to 's latest valuations. Last month, the Longs broke ground on a $1 billion mixed-use development on land adjacent to the stadium that will include about 2 million square feet of retail, office and residential space. In addition to their recent investment in Denmark, the Longs are actively looking to expand their presence in women's soccer through the acquisition of additional clubs. 'We've been very active looking across geographies already for the better part of 15-18 months to find incredible soccer and the ability to impact the community and drive beyond business improvement,' Chris Long said. 'But it's important to us that we do it right,' Angie Long added. 'We do it with excellence. And I think this offers an opportunity to learn how to first become a multi-club model, and then to really build on it.' This article originally appeared in The Athletic. Kansas City Current, NWSL, UK Women's Football 2025 The Athletic Media Company
Time of India
25-05-2025
- General
- Time of India
CR dismantles the last British-era overhead line portal at Vidyavihar
Mumbai: In a significant milestone towards modernising Mumbai's suburban railway infrastructure, Central Railway's Mumbai division announced on Sunday evening that it successfully dismantled the last remaining three-track British-type Direct Current underslung portal at Vidyavihar station (see pic). An underslung portal is a type of overhead line (OHE) structure where the wire that carries electrical power to the train is suspended below the supporting structure. This 100-year-old portal was replaced by a modern three-span overlap system, thereby enhancing the reliability of the OHE, a senior official said. The British-type DC underslung portals were iconic symbols of early railway electrification in India. Their phased removal marks the end of an era and the beginning of a more robust and efficient railway network. The project to remove these old portals began in 2012, and with this final dismantling, all 22 such portals along the CSMT–Kalyan suburban main line have now been removed. "This achievement reflects Central Railway's commitment to safety, reliability, and modernisation of railway infrastructure. This work was completed with meticulous planning and dedicated efforts by the Mumbai Division's TRD team, ensuring minimal disruption to train operations," added CR Chief Spokesperson Swapnil Nila. tnn
Yahoo
23-05-2025
- Politics
- Yahoo
Daywatch: How clean are the Chicago and Calumet rivers?
Good morning, Chicago. Before an outing on the Chicago River, coaches from a year-round local rowing team of breast cancer survivors check forecasts for storms and lightning, strong winds or air pollutants to decide whether it's safe to head out. During the summer months, they also get in the habit of checking for bacteria levels from human poop in the water. It might seem gross to think about, but for the group, it's necessary because some of its members have compromised immune systems due to their illness or treatment. In the last year, more often than not, test results reassured them that contact with the river wouldn't pose a health risk. Between Memorial Day and Labor Day in 2024, microbial water quality readings in the Chicago and Calumet rivers showed that conditions remained good or low-caution for recreational users on 78 of 101 summer days, according to a report released today by local water innovation hub Current. Current has been collecting real-time microbial water quality data in the city's rivers every summer since 2021 as part of its H2NOW program, the first of its kind in a U.S. urban waterway. Read the full story from the Tribune's Adriana Pérez. Here are the top stories you need to know to start your day, including the latest on the Chicago man charged in the fatal D.C. shooting, what care the massive House bill puts at risk for Illinois residents and what records were found in the Cook County clerk's office relating to Pope Leo XIV. Today's eNewspaper edition | Subscribe to more newsletters | Asking Eric | Horoscopes | Puzzles & Games | Today in History A Chicago man who railed on social media against the ongoing bombing of Gaza fatally shot two members of the Israeli Embassy near the Jewish museum in Washington, D.C. on Wednesday before allegedly admitting to a police officer he 'did it for Palestine,' according to federal charges unsealed yesterday afternoon. According to the complaint, Elias Rodriguez boarded a flight for Washington at O'Hare International Airport on Tuesday. Shortly after 9 p.m. Wednesday, Rodriguez shot two staff members of the Israeli Embassy in Washington as the victims were leaving an event at the Capital Jewish Museum, the complaint stated. Editorial: We mourn the slayings of two young Israeli embassy workers, and the crime's Chicago ties In addition to cutting hundreds of billions of dollars from Medicaid, a massive bill passed by the House yesterday would also prohibit the health insurance program from covering gender-affirming care — a provision that's at odds with Illinois' current practice. The provision is a result of a last-minute change to the bill before its passage out of the Republican-controlled House yesterday. Between a barrage of executive orders, foreign trips and norm-shattering proclamations, Donald Trump has also been busy raking in cash. The president has amassed a war chest of at least $600 million in political donations heading into the midterm elections, according to three people familiar with the matter. It's an unprecedented sum in modern politics, particularly for a lame-duck president who is barred by the U.S. Constitution from running again. Illinois lawmakers advanced a measure that would eliminate mandatory road testing for drivers under 87 and allow people to report close relatives they believe are no longer capable of driving safely. A new Chicago Teachers Union report criticizes the lack of oversight of the district's over 100 charter schools. Charter schools make up about a sixth of all schools in the district and receive public funding from Chicago Public Schools based on student enrollment, similar to district-run schools. Though charters are authorized and overseen by CPS, they operate as separate and private nonprofit organizations that manage their own day-to-day operations. Found within the Circuit Court of Cook County archives was a Declaration of Intention signed by Pope Leo XIV's paternal grandfather in 1920. It was the first step Salvatore Giovanni Riggitano — originally from Italy — took in the process to become a U.S. citizen. In the wake of the Illinois comptroller's office's decision to shut down a Chicago Heights crematory, at least 30 lawsuits have been filed by people who believe their loved ones remains were mishandled. The Chicago Cubs denied a report from their flagship radio station that the 2027 All-Star Game was coming to Wrigley Field, telling the Tribune 'no decision has been made.' The Cubs' first All-Star Game was played in 1947, and they hosted again in 1962. The Cubs were awarded the 1990 game after Tribune Co., the then-owners, agreed to install lights in 1988, ending the day-baseball-only tradition. The '90 All-Star Game at Wrigley included a rain delay in the seventh inning of a 2-0 American League win. Vintage Chicago Tribune: How Wrigley Field got lights The Chicago Stars will depart their usual Bridgeview venue to play a 'test run' game at an Evanston lakefront stadium in September as they consider a permanent move there. The City of Evanston has granted approval for the team, which competes in the National Women's Soccer League, to play all of its 16 home matches in 2026 at Northwestern University's Northwestern Medicine Field at Martin Stadium. The venue is the temporary home of the Wildcat football team, but the soccer club has not committed to playing there next year, said Emmanuel Salazar, spokesman for the Stars. Few things in Christopher Borrelli's life have been as consistent as 'Jaws.' It debuted 50 years ago this spring, soon after Memorial Day, and for those of us who spent summer breaks getting wrinkled in water, it ruined the next eight weeks. That said, from Cape Cod to saltwater-free Chicago, perhaps for you, the response was just as primal: 'Jaws' inaugurated the lifelong feeling that something's down there, beneath us in the water, wherever we were swimming, even if we were wading in a neighbor's aboveground pool. Why is Tribune film critic Michael Phillips cautiously optimistic — hope springs occasional, as they say — about the summer season, a time when all the franchisees come out to play and take you away from the sun? His reasoning is simple. Heading into summer means first closing the book on yet another network TV season, which still follows the fall-spring slot on the calendar. Tribune TV and film critic Nina Metz likes that regularity and thinks most viewers miss it when it comes to streaming. 'The Bear' is an outlier, premiering new episodes each June like clockwork. Shakira, Peso Pluma, Don Omar and Grupo Frontera headline Sueños, which returns to Grant Park this weekend. Expect more than 100,000 people, as the Latin music festival expands to include a second stage, a larger footprint and a dance zone for even more fun.
