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Archive for the ‘Business news’ Category

Countries are investing heavily in surfing at the OIympics. But just what does it take to get on the podium?

Talk about the cherry on top. When Steph Gilmore claimed her seventh Women’s World Title in Maui in 2018, she also earned a little bonus from the Australian taxpayer. As part of the Australian Olympic Committee (AOC) Medal Incentive Funding, athletes who win medals in World Championships in the lead-up to the Olympics are eligible for added funding. In Gilmore’s case, her victory was assigned Gold status and came with…  More

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As of reporting today, John Florence no longer rides for Hurley, after first signing with the brand in January of 2013. Just like that, surfing’s biggest ever deal—an eight-year $30million resigning package—is dust.

Over the weekend we heard from industry insiders on why professional surfers industry-wide can expect a “Best Case Scenario” 50% cut in marquee sponsors contracts. Realistically, it will be more like   …  More

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There might not seem to be many parallelisms between the salt-crusted surfers throwing shakas on the shore and suited businesspeople in the boardroom.

So, it might sound like a stretch to say that many fundamental business principles can be learned from this laid-back sport.

Despite the differences between surfers and businesspersons, there are six business principles that the ocean can teach us:   …  More

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Red Bull has revealed precisely how much it costs to keep the wheels of one of its Formula One teams turning, right down to the amount it spends on buying the material to build the cars and the stickers that appear on them.

Unlike teams in some other sports, F1 outfits disclose a great deal of financial information and there is good reason for this. Seven of the ten teams are based in Britain and are private limited companies which, ironically, have to file publicly-available annual financial statements. This requirement applies to   …  More

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