Putting our Mouth where Someone Else's Money is: Lyon Women and valuing Chelsea Women (with Christina Philippou)

In this episode, Val, Dave and Steve bring back football finance expert Christina Philippou for a case study, where the team discusses a valuation model for Chelsea Women built by Steve and powered by the terms of the sale of Lyon Féminin to Michele Kang in 2023. The group uses the model to dive into questions such as: What did Kang pay for Lyon and how was the purchase price structured? What does Lyon's revenue look like? What would make Chelsea more or less valuable than Lyon beyond just revenue? And most importantly, should that deal be a template for other investors to follow, in bringing greater investment to the women's game? With Christina's assistance, we go into the weeds on the numbers and come out the other side with a valuation range for Chelsea Women and a greater understanding of how investment in women's teams in Europe may be evolving.But before we get to the high finance, Val confesses to a certain merchandise purchase and the team talks about the prospects of the new World Sevens competition and whether, with just a little over a month to go before kick off, the inaugural edition will feature big name players and attract large numbers of travelling fans to Portugal.Listeners can poke through our valuation model on Google Sheets, at this link: https://tinyurl.com/cwfcmodel