Losing teams need not apply

Is this the biggest show in town?

The major players

Trading on the wide screen

Sport has not escaped the scrutiny of the securitization specialists. Whether it’s ticket receivables, broadcasting rights, or even the salaries of the best-paid sports stars, it’s all fair game. The reason is obvious: “Soccer, for example, is run more and more like a business, and is becoming more financially sophisticated,” says Andy Clapham, head of securitzation at Greenwich NatWest.

Credit Suisse First Boston cast an eye over the possibility of striking a deal for the rights to the Soccer World Cup in 2002, and one banker wonders why promoter Bernie Ecclestone does not do the same for Formula One motor racing rather than issuing shares.