An impossible job? Ten key skills for a sport CEO to thrive in 2023

Author: Matt Rogan | Read time: 4 min 

We work in a brilliant industry. A sector the entire globe is passionate about, commanding global media attention and a significant part of the world’s disposable income. It is our privilege to introduce something magical to people’s lives, which brings smiles, health and a distraction from daily challenges. I am sure we all have friends in other industries who would love to swap places.

Surely, then, being a CEO of a business in sports – whether brand, sports agency, rightsholder or other organisation – must be a dream job? Passionate audiences, employees who love the industry, business contacts who love having you in their networks, cool meeting venues. Not only that, but (for many) the chance to build a track record of delivering growth over the years. How could there be a better job?

Well, as we enter 2023, the reality is somewhat different. Being at the top of the sports business tree is anything but easy. Hugely rewarding but, in my experience, severely challenging also. Here are ten traits that the very best CEOs in sport will have in 2023 to thrive rather than merely survive in tough times.

Economist: As if navigating the pandemic wasn’t hard enough, CEOs need to become expert economists, modelling the impact of 3 years of double-digit inflation and quadrupled interest rates. Will fans still buy tickets, brands sign sponsor deals, TV rights fees remain? Nobody knows for sure what 2023 holds for the economy, so the most effective CEOs in 2023 will run a live business model.

Generational Guru: Millennials (those born between early 1980s and late 1990s) have just become the largest group in most developed workforces. They think, act and build different businesses. Generation Z coming next are even more different. 2023’s best CEOs will be aware of how generation shift will impact their business and their customer groups.  

Change Leader: Sports fans don’t like change, but Generation Z wants to consume sport very differently. This is creating culture wars – take cricket in the UK, for example. 5 day game vs 3 hours. Still cricket, but different audiences. 2023’s best CEOs will build products for the future but bring the loyalists with them.  

Innovator: Building new products means innovation. That is high risk and high exposure for a CEO. After all, how many stories have you seen that said, ‘VAR works brilliantly this weekend!’? Innovation is expensive and high exposure, but 2023’s best CEOs will make it work. 

Politician: It’s not just high exposure on the pitch. If only. CEOs in sport need to be politicians, too. National football team leaders, athletes and brand partners were expected to share lucid views on gender, sexuality, race, climate change and labour conditions this year. 2023’s best CEOs will manage society’s new normal sensitively.

Communicator: If you think managing the media is tough, try your own employees. Expect to be challenged on why you are sponsoring a certain event, signing a certain player or how you are handling inflation in their pay. 2023’s best CEOs are communicators – and will be more open than they have ever been.

Matt Rogan during SPORTO Conference 2022, Ljubljana, Slovenia. Photo by Grega Valancic / Sportida

Financier: In today’s climate you won’t always have good news. Business model pressures in 2023 will be acute. Inflation will create tensions for all of us. Winning and retaining custom will be hard and price sensitive. Business loans and debt will be tougher to repay. 2023’s best CEOs will make tough financial decisions with confidence and clarity.   

Stakeholder Manager: This financial pressure brings new scrutiny. Shareholders will be more challenging of your marketing budget. Private equity partners can be very tricky to manage when the business doesn’t generate enough cash to pay down debt. 2023’s best CEOs will be financially savvy and manage stakeholders proactively.

Psychologist: Leading through covid took a lot out of all of us. Many friends of mine reported company morale at an all-time low. Employees exhausted, working from home out of preference to save time and cost. But the same was true of the CEOs, too. 2023’s best CEOs will recognise signs of stress in their people – and themselves.  

Peer: Which brings us to number 10. 2023 will challenge you. But keep the faith – there is not a single CEO in the sports industry, or any industry, who has all the answers. It is going to be key to share thoughts with peers and ask for help at times. That is why the SPORTO platform is so important. 2023’s best CEOs will not only embrace the challenge of leading through incredible times, but also enlist others to support them on the journey.

The column was first published in the SPORTO Magazine No. 17 (December 2022).