Table of Contents

• Inside evolving FIFA 2026 World Cup plan to cash i …

• ‘Greatest Bubble’ nearing its peak, says Black Swa …

• Top Tickers

• Web3-AI: What’s real, and what’s hype

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Inside evolving FIFA 2026 World Cup plan to cash in on the rise of high-end sports tourism

A game-changer for high-end sports tourism

The 2026 World Cup is aiming to be one of the biggest sporting events to ever take place, hosting 104 matches across North America. That will come with plenty of fan interest in buying tickets, as well as plenty of interest in buying high-end hospitality packages like suites and unique experiences. Here, FIFA has tapped On Location, which sells hospitality packages for the Super Bowl and the Olympics, to meet that consumer demand.

Some numbers: FIFA has said it expects to generate $3.1 billion from hospitality rights and ticket sales during the 2023-2026 World Cup cycle, the bulk of which will come from the 2026 tournament. In comparison, FIFA reported $949 million in revenue spanning 2019 to 2022, which included the 2022 FIFA World Cup in Qatar. During that tournament, which had 64 matches, FIFA said it generated $243 million from hospitality package sales. Match Hospitality, which had sold hospitality packages for FIFA dating back to 2010, oversaw that event.

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‘Greatest Bubble’ nearing its peak, says Black Swan manager

Mark Spitznagel warns the ‘greatest bubble in human history’ is about to pop and stocks could lose more than half their value

In a stark warning to investors, Mark Spitznagel, the founder and CIO of Universa Investments, has predicted a major selloff in the stock market. Known for his accurate predictions during the 2008 financial crisis, the 2015 Flash Crash, and the 2020 COVID-19 market meltdown, Mark’s latest forecast suggests that stocks could lose more than half of their value.

Mark, a protégé of "Black Swan" author Nassim Nicholas Taleb, operates Universa Investments, a hedge fund designed to thrive during periods of extreme market volatility. Despite his pessimistic outlook, he acknowledges that predicting the exact timing of a market crash is incredibly challenging. However, he warns that the current market, characterized by record highs and an unusually calm atmosphere, is in a precarious "Goldilocks phase" driven by falling inflation and Federal Reserve easing.

Drawing parallels to the dot-com boom of the late 1990s, Mark notes that the excesses in today’s market are even more extreme. High public indebtedness and inflated valuations make it harder for government interventions to mitigate a potential downturn. He describes the macroeconomic situation as a "Mega-Tinderbox-Timebomb," highlighting the hidden risks accumulated over years of economic tampering.

For individual investors, Mark advises against panic. Staying passively invested in diversified index funds remains the best long-term strategy. Unlike professional fund managers, individual investors are not at risk of having their money withdrawn during bad years, allowing them to ride out market turbulence more effectively.

As we potentially approach the peak of what Mark calls the "greatest bubble in human history," his insights serve as a crucial reminder of the cyclical nature of financial markets. Investors are encouraged to brace for potential volatility while maintaining a long-term perspective.

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Top Tickers

Some of the most active and relevant securities and quotes (compared to previous day's closing price)

Web3-AI: What’s real, and what’s hype

Decentralizing the future: The realities and potentials of Web3-AI

The Web3-AI space is one of the hottest in crypto, combining great promise with significant hype. It almost feels heretical to point out the number of Web3-AI projects with multi-billion dollar market caps but no practical use cases, driven purely by proxy narratives from the traditional AI market. Meanwhile, the gap in AI capabilities between Web2 and Web3 continues to widen alarmingly. However, Web3-AI is not all hype. Recent developments in the generative AI market highlight the value proposition of more decentralized approaches.

Considering all these factors, we find ourselves in an overhyped and overfunded market that is disconnected from the state of the generative AI industry, yet capable of unlocking tremendous value for the next wave of generative AI. Feeling confused is understandable. If we step back from the hype and analyze the Web3-AI space through the lens of current requirements, clear areas emerge where Web3 can deliver substantial value. But this requires cutting through a dense reality distortion field.

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Then, we have the Friedkin Group that has pulled out of a potential takeover of Everton. The American investors had agreed a £500m deal to buy the club from Farhad Moshiri but withdrew on Thursday evening. Friedkin had already paid £200m to help complete the building on Everton’s new stadium at ­Bramley Moore Dock but dramatically decided against going through with purchasing the 94% stake currently held by Moshiri’s Blue Heaven Holdings.

It was a surprising move and left those involved in the deal shocked. The club and potential investors had entered an exclusivity period spearheaded by the Texan ­billionaire Dan Friedkin last month that sought to end Moshiri’s long-running attempts to sell up. The British-­Iranian ­businessman had previously agreed a deal with 777 Partners only for that protracted takeover to collapse in May. It is believed Friedkin pulled out because of a lack of ­clarity ­regarding loans 777 Partners had made to Moshiri, to help with the day-to-day running of Everton, as part of its attempted takeover of the club.

The club statement about the latest collapse of takeover talks tried to put a positive spin on things by referring to exploratory discussions concluding, “good faith” and “alternative options”, but it is very hard to glaze a sandwich this unappetising, as The Athletic writes.

Happy Sunday!

Irg

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