112 - How to Fund Your Sports Dream While Earning Passive Income, No Hail Mary Needed - Kimball Kjar

Investing in Professional Sports: The Journey of the Utah Warriors Rugby Team with Kimball KjarIn this episode of Passive Income Adventures, host Emma Powell sits down with Kimball Kjar, the driving force behind the Utah Warriors rugby team. Kimball shares the unique journey of establishing and sustaining a professional rugby team in North America, overcoming financial and operational challenges, and the passionate community support involved. They delve into the business dynamics of sports investments, the synergies between various sports teams in Salt Lake City, and the personal sacrifices made along the way. Discover insights on how sports can significantly impact communities and the long-term investment strategies required to build a successful sports brand.Bio:I didn’t wake up one day and say to myself, “I’d like to start a professional rugby team.” In fact, I was more than happy doing what I was doing at the time. But the thing that attracted me to this business was the impact sports has on communities—especially for kids.Community identities are built and sustained by sports. Everyone knows what it means to be a Pittsburgh Steelers fan, and everyone knows what the Lakers mean to the city of Los Angeles. Rivalries between Brigham Young University (BYU) and the University of Utah are something that can literally divide families along blue or red lines.This type of passion is something very few businesses can replicate. You don’t see downtown parades celebrating Amazon’s annual earnings reports, even if they beat all industry expectations, do you? Nor do you often see adults and children wearing hoodies, hats or jackets with the logos of General Electric or Berkshire Hathaway. The power of sports teams is unrivaled in the level of impact that they can have on individuals, families, businesses—and, above all—our youth.Kimball Kjar is an American former rugby union international.Kimball, born and raised in Salt Lake City, attended Bountiful High School. He competed in wrestling during his school years and played high school football, as a receiver and defensive back.It wasn't until Kimball began his studies at Brigham Young University that he picked up rugby union, having been invited to play by friends. He was a three-time collegiate All-American.A scrum-half, Kimball was a United States representative player between 2001 and 2007. He played twice as a substitute at the 2003 Rugby World Cup in Australia, including the win over Japan.Kimball co-founded Major League Rugby team the Utah Warriors and is the CEO.Connect:https://www.warriorsrugby.comConnect with Emma:https://InvestWithEmma.comhttps://PartnerWithRise.com/Emmahttps://Highrise.Group00:00 Introduction to Passive Income Adventures00:23 Meet Kimball Kjar: A Unique Journey01:51 The Birth of Utah Warriors03:53 Challenges and Sacrifices09:34 The Power of Sports in Communities15:20 The Business of Rugby24:21 Evaluating Sports Investments26:30 Understanding EBITDA in Sports Investments26:55 The Importance of Trust in Sports Investments28:44 Challenges and Realities of Early-Stage Sports Investments30:24 Personal Investment Stories and Decisions31:26 Tax Implications for Sports Team Owners34:12 Community Impact and Economic Benefits of Sports39:47 The Synergy Between Different Sports Teams46:13 The Unique Appeal of Rugby and Networking Opportunities47:30 How to Get Involved and Attend a Game50:48 Final Thoughts and Contact Information