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What happens when art and science collide? PST Art in Los Angeles has the answer

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It is now 65 years since the British writer and scientist CP Snow gave his famed Cambridge lecture on “The Two Cultures”, in which he lamented the seeming intellectual divide between the humanities and the sciences. The mood of the lecture, and the subsequent book, was subdued, bordering on gloomy. “There seems . . . to be no place where the cultures meet,” wrote Snow, citing his personal experiences of sterile High Table conversations at his Cambridge college. “I am not going to waste time saying that this is a pity. It is much worse than that.”

Flash forward to present-day Los Angeles, where Snow’s thesis is receiving an unlikely multimillion dollar stress test. It comes in the form of PST Art: Art & Science Collide, a months-long collaborative series of exhibitions across Southern California, involving more than 70 galleries and some 800 artists, opening this month.

The Getty foundation-funded exercise, comprising $20mn worth of grants, brings a bewildering diversity of works and themes to the exploration of the Two Cultures debate. Is it possible for the arts and sciences to move constructively forward, or are they doomed to permanent irreconcilability? Where Snow’s melancholy observations seem steeped in the claustrophobia of the senior common room and focused on literature, PST: Art finds cause for a sunnier outlook, through a series of arresting visual art shows. 

A painted sketch of a neon-lit city at night for a film
A concept drawing by Syd Mead for ‘Blade Runner’ (1982), featured at the Academy Museum of Motion Pictures exhibition ‘Cyberpunk: Envisioning Possible Futures Through Cinema’ © Syd Mead, Inc

“The title was a provocation,” says Joan Weinstein, director of the Getty Foundation. “It was partly to get the attention of audiences, and get them to ask that question — do [art and science] really collide? And you will see various interpretations and answers being offered here. The general view of the community is that, of course, they have long had something to do with one another. But there was this rupture that was created [by Snow’s book]. It was a kind of mythology which has had an amazing hold for a long time.”

There are some well-known areas of mutually rewarding collaborations: one of them is explored in the Palm Springs Art Museum’s radiant show Particles and Waves: Southern California Abstraction and Science 1945-1990, which explores the influence of space-age technology on painting and sculpture. The imagery and highly polished finishes used in locally based aerospace technology had a powerful effect on artists of the time.

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Frederick Eversley’s sleek, subtly hued sculpture “Untitled (Black)” (1978), mesmeric in its dense opacity, owes much to the artist’s training as a designer of labs for Nasa’s Gemini and Apollo missions in the late 1960s. His experiments were mathematically inspired; few artists of the time knew what a plano-concave cylindrical parabolic lens was, let alone how to make one and turn it into a thing of beauty.

A photograph of a smooth black pill-shaped object
‘Untitled (Black)’ by Frederick Eversley (1978) at Palm Springs Art Museum’s exhibition ‘Particles and Waves: Southern California Abstraction and Science, 1945–1990’ © Sánchez/Solstream Studios

Co-curator Sharrissa Iqbal explains that West Coast Abstract Expressionism took its cue from the climate of scientific experimentation. “It is less about interior emotion than it is about atomic physics,” she says. “[The Californian minimalist painter] John McLaughlin differentiated himself from the East Coast painters by saying they were expressing themselves in their paintings, while he wanted viewers to see the work first of all, and then look inward and see themselves.”

At the UCR Arts centre, in Digital Capture: Southern California and the Pixel-Based Image World, there are examples of early digital trials that were scientifically inspired, yet coincidentally sparked the interest of local artists. “They knew something was happening in the Jet Propulsion Laboratory and at Nasa, and said, ‘Hey, what are those people doing, and how do I get into that lab?’” says Douglas McCulloh, who conceived the show.

Once inside the action, there was conflict rather than collusion, he says. “There is some hilarious correspondence from the scientists essentially asking, ‘What the hell are they doing here — this is a misuse of our technology!’ But they didn’t really know how to take advantage of what they were creating, or what to do with it.” Artists, on the other hand, became enraptured by the immediacy, and even the otherworldly glitches, of the nascent digital technology. 

Two artists hold up tapestry weavings in front of their faces against a backdrop of a Californian town in the desert
‘Blood of the Nopal’ by Tanya Aguiñiga and Porfirio Gutiérrez at the Fowler Museum at UCLA © Javier Lazo Gutiérrez

The blockbuster show of PST Art is at the Getty Center itself, and takes a richly historical view of art’s obsession with light. Lumen: The Art and Science of Light digs deep into medieval and Renaissance scientific theory, and how it enmeshed with the theological beliefs of the time. It was an era in which geometry and philosophy were innately twinned, and its artists responded with breathtaking originality and skill.

A 14th-century pinnacle of an altarpiece by Giotto shows two angels on either side of God, who are peering towards him using darkened glass frames, a symbolic reminder of our inability to perceive him. In an illustration of The Miracle of Mount Gargano, shortly after 1053, an archer pulls the string of his bow only for the arrow to enter his own eye. What looks comical to the 21st-century viewer has a humbling allegorical explanation: it is the arrow of truth that invades his body, enabling his soul to acquire spiritual vision.

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Among the few contemporary works littered among this feast of images is Anish Kapoor’s “Non-Object Black” (2018), coated in “Vantablack”, the darkest material known to us, which absorbs 99.965 per cent of visible light and dramatically reduces our ability to perceive depth and texture. Here is another rendition of the unknowable, science deployed not to clarify but to portray transcendence. Not so different, perhaps, from the artistic travails of 1,000 years ago. Has science now become the new religion?

A vibrant presence in PST Art is that of indigenous technology, which is based on tradition and continuity, rather than the constant urge to innovate. In Blood of the Nopal at the Fowler Museum at UCLA, Mexican-American artists Tanya Aguiñiga and Porfirio Gutiérrez deliver powerful ecological messages using natural fibres and dyes including cochineal, a red pigment derived from a tiny insect which has been used by the Zapotec people since about 500BC.

It is Aguiñiga’s contemporary work that most captures the eye however: “Exercises in Understanding” (2020) uses pulverised rust from the US-Mexico border fence — another natural dye — to draw a blood-red ladder on to a wide strip of cotton, winding its pointless way up the gallery wall. “We feel we do not have the right to imagination,” she tells me of the precarious sociopolitical plight of her people. “It is really hard and really sad. But is so important for us to let the entire world know that we are here.” 

Weinstein describes the number of indigenous projects put forward for inclusion in PST Art as a “wonderful surprise. One of the things that we have been able to think about is, ‘What is that relationship between indigenous knowledge and western science?’ I like the fact that, while some of the exhibitions are looking to the ancestral past, others are looking towards an indigenous future.

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A Californian desert scape featuring some buildings and a lens-like object in the middle of the sky
‘Emplacement’ by Marcus Zúñiga (2023) at the Benton Museum of Art at Pomona College © Marcus Zúñiga

“The climate crisis has created an acknowledgement of how much we need to learn from indigenous technology. Particularly here in California, scientists are turning to indigenous communities to understand things like cultural burns, ritual burning that is meant to control fire, knowing when to cut back, when to let growth continue. It is very humbling.”

She cites the words of the New Mexico-based artist Cannupa Hanska Luger: “He says, ‘People are trying to figure out how to live through a dystopian present, well, look at us, we have been living through your dystopia for quite a long time now! We are the ones who can imagine a different future.’” 

The dizzying array of viewpoints in PST Art is a smart fit for Los Angeles. It is hard to imagine any other city in the world that could pull it off with such zesty aplomb. Katherine Fleming, president and chief executive of the J Paul Getty Trust, speaking at its formal launch, went so far as to compare the city to “fin-de-siècle Vienna or Periclean Athens” in its ability to capture the cultural moment of the 21st century. She also announced that the event, now in its third incarnation following similar series of shows in 2011 and 2017, will become a regular fixture to be held every five years.

Opening celebrations were concluded at the LA Coliseum with a stunning five-act firework performance devised by the Chinese pyrotechnician Cai Guo-Qiang, with the aid of artificial intelligence powering more than 1,000 aerial drones. The artist gave a running commentary on the show which ended with two thunderous blasts of “divine wrath”. “Humans forever vacillate between fear and hope for salvation, with courage and unease, determination and doubt coexisting,” he recited. “This is the current state of our exploration of AI.”

It might have been described as art, or science, or both; but the collision of the two cultures finally meeting was palpable for miles around.

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Details of exhibitions at pst.art

Four (more) shows to see at PST

Lightscape

Doug Aitken

© Doug Aitken Workshop

Aitken is an astute and versatile observer of LA popular culture. Lightscape is described as a “shape-shifting act of contemporary storytelling” unfolding in various stages: a feature-length film, a multi-screen fine art installation, and a series of live musical performances. The film version, featuring the LA Phil New Music Group and the Los Angeles Master Chorale, premieres at Walt Disney Concert Hall on November 16; the exhibition follows at the Marciano Art Foundation from December 6.


Free the Land! Free the People!

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Crenshaw Dairy Mart

An exhibition of eco-pods, loosely based on the work of Buckminster Fuller, channels the hippy spirit of California. Crenshaw Dairy Mart styles itself as an Inglewood-based artist collective “dedicated to shifting the trauma-induced conditions of poverty and economic injustice” through its designs for self-sufficient modular geodesic domes. To February 15 2025


Beatriz da Costa: (un)disciplinary tactics

LA Municipal Art Gallery

© Courtesy of the Beatriz da Costa Estate

Stars of the show in this homage to the late Da Costa, an interdisciplinary artist who combined robotics and microelectronics with political interventions, are the (stuffed) pigeons carrying mini-rucksacks on their backs. These were employed in Da Costa’s PigeonBlog (2006-08) to upload air quality data as they were flying around LA. To January 5


Cyberpunk: Envisioning Possible Futures Through Cinema

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Academy Museum of Motion Pictures

Outcasts and rebels fight against political corruption and berserk technology against spectacular dystopian backdrops: the Academy museum, a newcomer to the LA scene, traces the history of one of the more stylish movie genres of the past half-century, starting with 1982’s Blade Runner and brought right up to date with the Afrofuturism of 2021’s Neptune Frost. To April 12 2026


Find out about our latest stories first — follow FTWeekend on Instagram and X, and subscribe to our podcast Life and Art wherever you listen

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Lost Property, St Paul’s, London, review

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The hotel is round the corner from St Paul’s cathedral

Lost Property, part of Hilton’s fancy Curio Collection, has a very specific theme: the lost history of London.

Read on to find out more about the plush bedrooms and tasty grub.

The hotel is round the corner from St Paul’s cathedral

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The hotel is round the corner from St Paul’s cathedralCredit: Lost Property
The restaurant is a calm oasis away from the chaos of Ludgate Hill

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The restaurant is a calm oasis away from the chaos of Ludgate HillCredit: Lost Property

Where is Lost Property hotel?

Round the corner from St Paul’s cathedral and on the busy street of Ludgate Hill, Lost Property is in a central spot in London.

City Thameslink train station is a two-minute stroll away and St. Paul’s underground station is a five-minute walk away.

What is Lost Property hotel like?

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You may not even notice the image of Winston Churchill or the inspiring quotes subtly emblazoned on the wall in reception, but take a closer look at and you’ll find little treasures hidden all over this 145-bedroom hotel.

Check your drinks coaster in the bar – each one is printed with the definition of a lost word which has been removed from the English dictionary.

If you haven’t visited the capital before, ask for a room with views of the impressive St. Paul’s cathedral, an historic London landmark.

What is there to do at Lost Property hotel?

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For those that fancy a workout, there’s a very nice gym with Peloton bikes and treadmills which sit under large windows in the ceiling so you can soak up the natural light while you cycle.

Make sure to pick up a coffee before you head out for the day as you’ll struggle to find a better one in London – it’s the only hotel to have partnered with Monmouth coffee, a high-quality London roaster.

The hotel is a short stroll from some top tourist attractions like the Tate Modern (15-minutes walk), the London Eye (30-minutes walk) and Somerset House (18-minutes walk).

What is there to eat and drink at Lost Property hotel?

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The restaurant is a calm oasis away from the chaos of Ludgate Hill on its doorstep and the talented mixologists behind the bar can whip you up any tipple, even if it’s not on the menu.

I requested “something tequila-based” and was handed an elegant coupe filled with a delicious citrus-y, sour cocktail that packed a punch.

The food is much like the rest of the hotel: decent-quality, with added elegance.

My buttery pan-fried fillet of sea bass, for example, came with leeks and potatoes, as well as a Champagne velouté and caviar for that extra pizazz.

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What are the rooms like at Lost Property hotel?

Rooms have been created with busy travellers in mind, although glamour hasn’t been forgotten about.

USB ports by the bed and wardrobes with enough space and hangers are convenient, while the sleek furnishings and marble-top surfaces elevate rooms to a luxury level.

The only major difference between rooms is the size, so if you aren’t staying long, go for the standard Queen Guest Room.

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How much is Lost Property hotel?

Rooms cost from £209 per night.

Click here to book.

Is Lost Property hotel family friendly?

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Although kids would be well looked after here, there may be some other hotels more suited to families.

Is there access for guests with disabilities?

Yes, there are spacious accessible rooms with roll-in showers.

The restaurant is on the ground floor and there are toilets for wheelchair users.

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Looking for a place to stay? For more hotel inspiration click here.

The only major difference between rooms is the size

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The only major difference between rooms is the sizeCredit: Lost Property

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‘I don’t really like the word “designer”’

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Michael Marriott’s east London studio is a wonderful mess. It’s rammed with tools, boxes, stools, signs, books and designs, prototypes of his own furniture and products and those of friends, piled all around with fascinating things. This is not one of those self-consciously showroom studios, more for effect than process, but rather a place of real ideas and work.

The designer, a dependable and much-loved fixture of London’s scene for the past three decades, makes me a strong coffee. I notice, halfway through our conversation, that the mug says The Tool Appreciation Society. “I love tools,” Marriott says. “They’re perfect objects, partly because they haven’t been tampered with by designers. They’ve evolved through use and they relate very closely to the human body, the way in which they fit in the hand.” We spend a happy few minutes talking about hammers.

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His comment on the (lack of) design of tools is revealing. “I don’t really like the word ‘designer’,” he says. “Design means lots of things. Designer fashion or jeans, sometimes it’s just a colour scheme. I’m slightly ashamed to be a designer. We’re caught up in the world’s problems: overproduction, over-marketing. On the one hand I feel I should just stop. So I try to do things in a way that causes as little harm as possible. Design should be about solving problems but it becomes part of the problem, which is overconsumption.”

A workshop with grey floor and strip lighting is filled floor-to-ceiling with tools, material and objects, from screwdrivers and saws, to stacks of pieces of wood, chair frames and a garden gnome
The designer’s studio is chock-full of tools, books, found objects and his own furniture and product designs © Ned Collyer

Marriott’s designs are often modest. They employ found objects or involve a small adaptation of an existing product, items which are useful and economical but also intelligent, sometimes wryly commenting on the broader world of design through small gestures. There are candlesticks and doorknockers made in the image of hex wrenches, for instance, a clock face made from old cardboard boxes, a lampshade made from a plastic bucket or a bottle-opener made from broken bicycle rims.

Of course, there are more conventional designs too, for furniture or shelving, the latter including his popular Croquet range, with brackets inspired by croquet hoops, but also his Olá café chair, a version of the bentwood Thonet classic. These he used in the designs for Bloomsbury’s Café Deco, a lovely space which manages to blend the proletarian-utilitarian style of a London caff with the bourgeois sophistication of a continental café.

In a room with white walls and pine floorboards a small table has a central column in eye-popping fluorescent pink. On its top is a lime-green vase filled with flowers
Marriott’s Zurito side table is made of oak and lacquered birch ply © Michael Marriott

He has a nice sideline in shop fittings (as at Leila’s in Shoreditch). “When I started out, I thought I was a furniture designer, and I think I am, by philosophy, but I like to do what I can using as little material as possible, making things that are reduced.” He has also become known for installation and exhibition design, where “you’re working with a curator and a graphic designer, so you’re not just making shapes but working with a cultural context too. And there’s also a fee . . . ”

What there often isn’t is a place to sell some of the more eclectic or eccentric designs: the smaller, quirkier things. Marriott addressed that with his online shop WoodMetalPlastic.

“That’s what these things I do are made of. At first we were just selling pieces like the Ernö hook [a tough, injection-moulded double wall hook] but then we started with other pieces like this camping tin-opener from Spain which was old stock; the manufacturer closed down in the 1960s, so these were probably the last of these things in the world.” There are also plenty of other wonderful, everyday, simple things: plastic bowls, brushes, lemon squeezers, brightly coloured but unselfconscious. And also inexpensive. This is not the world of Milanese high design but of good things made accessible. (I like the Kex cabinet handles adapted from brass radiator keys, £5.95 each, designed by Kitty Hiscox.)

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The bright-orange double hook is shown in close-up on a well-worn wooden door, holding a work jacket in primary blue and a white shirt on a coat hanger
The Ernö coat hook is injection-moulded in Zytel, a nylon-based polymer © Michael Marriott

For a long time Marriott taught at London’s Royal College of Art, where he studied, and his impact has been felt widely. He has always provided the antidote to the starry designers of self-conscious icons, the jet-setting names who think their work blurs boundaries between design and art and see their statement sofas sell for big money at auctions. But when I ask him about his effect on the London design scene, he modestly demurs. “I don’t see it myself,” he says, “but I have been told by others.”

In fact, he is very much a London designer. “I was born here,” he says, “and though I grew up in the suburbs [Dartford, Kent], I came back as soon as I could and have been here ever since.” There is something about his wit, the slightly sly take on the culture of consumption which he so successfully subverts with his designs, that has a hint of London’s ad hoc, almost punkish spirit. His shop had a presence during Milan’s Salone del Mobile this year, a lively storefront which was one of the sprawling event’s highlights (partly by being everything the design industry at large is not).

A man wearing black-rimmed glasses, a blue shirt and jeans sits at table in a kitchen with yellow walls, pointing at a ceiling light made out of an ironing-board frame
‘I like to do what I can using as little material as possible,’ says Marriott © Ned Collyer

I pick up a pepper grinder from the table, a thing that was hiding behind my mug. It has a head shaped like a nut. “I know, the world doesn’t really need another pepper grinder,” he says, “but I’m more interested in how these things sit in a landscape of objects. How does it speak to the other objects on the table?” I look at the things around it: another mug, an Opinel knife, a handwoven basket, a book, a bent-metal oil and vinegar set-holder. Some are his designs, others he sells in his shop, others still are the workmanlike, useful objects he loves and lives with. It seems to me like they’re all having a pretty convivial conversation, at least as much as objects can.

michaelmarriott.com

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One-week warning for anyone with a side hustle to act to avoid £100 fine

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One-week warning for anyone with a side hustle to act to avoid £100 fine

IF you earned more than £1,000 in the last tax year from your side hustles, you need to register for self-assessment.

If you miss the October 5 deadline for registration and then fail to send in a tax return on time, you’ll likely face a fine.

Read on to find out how you can avoid an £100 fine

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Read on to find out how you can avoid an £100 fineCredit: Getty

A side-hustle is something you do to earn extra income, such as selling things online, doing freelance work alongside your normal job, or making money from tasks like pet-sitting, dog walking, or babysitting.

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How much you earn is important. If you make less than £1000 in a tax year from your hustle, it doesn’t count as taxable income, and you don’t have to declare it.

But, once you start making more than this, you need to register as self-employed and start paying tax on the money earned over this amount.

The threshold is based on your profit after deductible expenses. For instance, if you were making and selling jewellery, you can deduct the money you spent buying materials from how much you earned in total.

You only need to file and pay tax if your remaining profits are more than £1,000 for the year.

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You also need to register if any of the following applied in the past year:

  • you were a sole trader
  • you were a partner in a business partnership
  • you had a total taxable income of more than £150,000
  • you had to pay Capital Gains Tax when you sold or ‘disposed of’ something that increased in value
  • you had to pay the High Income Child Benefit Charge

You might also need to register and send in a tax return if you have untaxed income, such as:

  • money from renting out a property
  • tips and commission
  • income from savings, investments and dividends
  • foreign income

And there are some scenarios where you don’t need to send in a return, but might choose to anyway. For instance, if you want to:

  • claim some Income Tax reliefs
  • prove you’re self-employed, for example to claim Tax-Free Childcare or Maternity Allowance
  • pay voluntary National Insurance contributions

You can check if you need to do self-assessment with the Government’s online tool.

The deadline for registering is October 5. There’s no penalty for registering after this, but if you haven’t signed up, filed your tax return, and paid your bill by January 31 you will be fined.

If you do miss the October 5 deadline, you should sign up as soon as possible. This means you’ll be set up and able to file your return in time.

I was FINED £500 for leaving an Ikea cabinet outside my home for someone to take for free – I was shaking and panicking

There are two key deadlines for actually submitting the return. If you want to file a paper return, it needs to be in by October 31. If you’re submitting online, you have until January 31.

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If you miss the deadline for filing, you face an immediate £100 fine. If your return is more than three months late, you’ll then have to pay an additional £10 a day for a maximum of 90 days.

If you’re more than six months late, you pay a fine worth 5% of your total tax bill – or £300, whichever is higher – and then if you’re 12 months late you’ll have another fine worth the higher of 5% or £300.

You also need to pay everything you owe by January 31, or you’ll also face a late payment fine.

If you’re more than 30 days late, you need to pay 5% of the tax due as a fine.

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If you’re six months late you pay another fine worth 5% of the tax outstanding and then the same again at 12 months.

HMRC charge interest on late tax payments. The interest is charged from the date the payment became due until the date of payment and is added automatically.

There is a helpful calculator on the gov.uk website that you can use to calculate what your late payment fees will be, if you miss the deadline.

You can challenge any penalties if you have a reasonable excuse. You usually have 30 days from the date your penalty was issued to contact HMRC or make an appeal. If you miss the deadline, you’ll need to give a reason.

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The taxman says examples of reasonable excuses include:

  • your partner or another close relative died shortly before the tax return or payment deadline
  • you had an unexpected stay in hospital that prevented you from dealing with your tax affairs
  • you had a serious or life-threatening illness
  • your computer or software failed while you were preparing your online return
  • issues with HM Revenue and Customs (HMRC) online services
  • a fire, flood or theft prevented you from completing your tax return
  • postal delays that you could not have predicted
  • delays related to a disability or mental illness you have
  • you were unaware of or misunderstood your legal obligation
  • you relied on someone else to send your return, and they did not

Whatever the reason, you must send your return or payment as soon as you can.

Who needs to fill out a self-assessment tax return?

YOU’LL need to submit a tax return if any of the following applied to you in the 2022/2023 tax year:

  • You were self-employed and your income was more than £1,000
  • You had multiple sources of income over £1,000
  • You earned £10,000 or more before tax from savings, investments, shares or dividends
  • You claimed Child Benefit when you or your partner earned more than £50,000 a year.
  • You earned more than £2,500 from renting out property, or from other untaxed income, such as tips or commission
  • You earned more than £100,000 in taxable income
  • You earned income from abroad or lived abroad and had a UK income
  • You need to pay capital gains tax
  • You received income from a trust
  • Your state pension was more than your personal allowance and was your only source of income (unless you started getting your pension on or after 6 April 2016)
  • HMRC has told you that you didn’t pay enough tax last year (and you haven’t already paid up through your tax code or via voluntary payments)
  • You filed a self-assessment tax return for the 2021/22 tax year (even if you didn’t owe any tax)
  • You were self-employed and earning less than £1,000 but you still want to pay ‘class 2’ national insurance contributions voluntarily to protect your entitlement to the state pension and certain benefits

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A big bet on basketball

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This article is an online version of our Scoreboard newsletter. Premium subscribers can sign up here to get the newsletter delievered every Saturday. Standard subscribers can upgrade to Premium here, or explore all FT newsletters

Good morning from Gotham, where New Yorkers are definitely sleeping in after the craziest week of the year, between the gridlocking mayhem of the UN General Assembly and the indictment of our mayor. It was into this chaos that Reddit co-founder Alexis Ohanian launched the inaugural Athlos women’s-only athletics meeting, the first of a deluge of new track meets attracting big money in a shake-up for the sport, whose plans we wrote about last month.

But after talking the talk, could Athlos . . . run the race? Thursday’s meet was absolutely unlike any other track meet, at least in the US. With a red carpet for athlete walk-ins and celebrity attendees like Flavor Flav, VIP lounges directly on the track, and DJ D-Nice spinning tracks between events, the capacity crowd at Icahn Stadium was certainly treated to an event.

Competitors raved about the experience and 100-metre winner Marie-Josée Ta Lou-Smith, 35, told Scoreboard that she contemplated retirement before Athlos popped up with a $60,000 check for first place. The meet was not without its wobbles — new Olympic champion Masai Russell filed a protest in the 100 metre hurdles after she said officials didn’t register a false start — but Ohanian ultimately delivered on a promise to build something different. The question now is whether audiences and sponsors keep it growing. 

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For now, we have dispatches on private equity’s newest sports target and a look at the dour financial picture for English rugby. Do read on — Sara Germano, US sports business correspondent

Send us tips and feedback at scoreboard@ft.com. Not already receiving the email newsletter? Sign up here. For everyone else, let’s go.

Private equity battles over European basketball

Exclusive: BC Partners in talks to buy EuroLeague stake © AFP via Getty Images

Private equity is circling sports, that much we know. But why is Europe’s pre-eminent basketball competition attracting so much interest from investors? 

As revealed by the FT this week, London-based BC Partners has entered exclusive talks to buy a minority stake in EuroLeague’s commercial business at a €1bn valuation. To get to that stage, BC saw off competition from rival firm General Atlantic and SURJ Sports Investment, a subsidiary of Saudi Arabia’s sovereign wealth fund.

While basketball has a huge global following, the popularity of EuroLeague pales in comparison to North America’s National Basketball Association. So what’s the appeal?

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Europe has certainly emerged as a hotbed for basketball talent. Just look at French centre Victor Wembanyama, now starring for the San Antonio Spurs in the NBA. And he’s not a one-off. Nikola Jokic, the Serbian three-time NBA most valuable player, and two-time MVP Giannis Antetokounmpo both began their professional careers playing for European teams.

EuroLeague itself has been gaining traction too. The competition’s television audience increased 27 per cent year on year in the 2023-24 season, bolstered by interest in Turkey, Serbia, Greece, Spain, Lithuania and Italy. User numbers for its online streaming platform rose 46 per cent to 85,000. BC Partners would bring deep experience of media rights, via its ownership of broadcaster United Group.

There is scope to grow in other ways too. Attracting more clubs from northern Europe, such as the UK, and expanding in the Middle East could help to increase commercial revenues and reduce reliance on southern Europe.

The league is already home to some well-known sporting names. Real Madrid (yes, that one) has been the dominant team, but faces competition from other big clubs, including Bayern Munich, Barcelona and Olympiacos. Such heavyweights provide the foundation for a wider fan base.

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But does a deal make sense for the sport? After all, the firm’s bid comes at a time when private equity’s involvement in sport is under increased scrutiny. 

If a deal does go ahead, EuroLeague would do well to take heed of how the Spanish football league approached its investment from CVC Capital Partners. In short, La Liga’s deal was structured to encourage clubs to put money into stadium infrastructure instead of blowing it all on players.

Private investment and European basketball don’t always mix well. British Basketball League, which operated the professional game in the UK, had its licence terminated earlier this year due to financial difficulties stemming from an investment by Miami-based 777 Partners in 2021. Last night saw the debut of Super League Basketball, its replacement.

Professional basketball outside the US is still small enough that taking the wrong path once can lead to existential questions. Investors clearly see something in European basketball. For the sport itself, there’s a lot on the line.

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English rugby union’s financial woes laid bare

Trouble ahead: rugby clubs told to cut costs © Getty Images

In a telling sign of how bad things have got in rugby union, the first annual assessment of its finances was unveiled this week by a firm of insolvency experts.

Leonard Curtis, which specialises in corporate restructuring, released its inaugural Rugby Finance Report, a publication modelled loosely on Deloitte’s Football Money League. It made for sober reading.

Among the key findings was that seven of the 10 clubs in the Premiership — the top tier of English rugby union — are now “balance sheet insolvent”, meaning they are reliant on rich owners putting in money to keep them going. None of the teams made a profit in 2022/23, while combined debts reached £311.5mn. Losses across the 10 clubs hit £30.5mn, and TV revenue fell. The report did not point to any positive catalysts for improvement on the horizon.

The gloomy picture shows that the £200mn investment by CVC Capital Partners in 2019 has so far failed to alter the trajectory of English rugby union’s top clubs. That money effectively became a bailout due to the financial hit of the pandemic. And even so, three top tier clubs have since collapsed.

The authors of the report offered one simple short-term fix to keep the game afloat: slash wage bills. If clubs can stop haemorrhaging cash, they argued, it would provide a bit of breathing space to carry out more drastic reforms. Fears that dropping pay would cause an exodus of talent to other countries were overblown, they argued.

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Potential longer-term solutions for rugby require increasing revenue. The game needs a larger, younger audience both to fill seats and to drive the value of broadcast rights. To do that rugby may need to consider some major surgery both on and off the pitch to make it quicker, easier to understand and more entertaining.

James Haskell, the former England international who wrote the foreword to the report, warned that the time for taking action was running out. Efforts to fix the game’s problems so far were like “rearranging the deckchairs” on a sinking ship.

“The next 18 months are going to be the most important for rugby”, he said. “We’ve got to change or we’re going to be stuffed.”

Highlights

Done deal: Everton sold to US billionaire Dan Friedkin © Getty Images
  • US billionaire Dan Friedkin has agreed a deal to buy Premier League club Everton, two months after an earlier attempt to buy the team collapsed.

  • Italian football club AC Milan is in talks with the government of the Democratic Republic of Congo over a multimillion euro sponsorship deal to promote the war-torn country as a tourist destination.

  • The German football league will re-auction a package of live games for its next rights cycle due to start in the 2025/26 season after a court partially upheld a lawsuit from broadcaster DAZN, who challenged the result of the previous auction.

  • Flutter, which owns bookmakers Fan Duel and Paddy Power, predicts its profit will double by 2027 due to the booming US sports betting market.

Business of football: the big data arms race

A technological revolution is under way in football, as team owners turn to the latest data analytics and AI to gain a competitive edge in the battle for talent. As more professional investors buy into the sport and rules on spending get tighter, future champions will increasingly be created away from the pitch by teams of software engineers. Watch the latest instalment of our Scoreboard video series.

Final Whistle

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Less than two years after suffering a devastating cardiac arrest on the field, Damar Hamlin of the Buffalo Bills notched a career-first interception in Monday night’s victory over the Jacksonville Jaguars. While Hamlin, 26, returned to the gridiron for the 2023 season in a reserve position, he regained his starter status this month and punctuated his full recovery by picking off a pass from Jaguars’ quarterback Trevor Lawrence. Bills Mafia could not be more thrilled.

Scoreboard is written by Josh Noble, Samuel Agini and Arash Massoudi in London, Sara Germano, James Fontanella-Khan, and Anna Nicolaou in New York, with contributions from the team that produce the Due Diligence newsletter, the FT’s global network of correspondents and data visualisation team

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Thousands of households must act NOW or miss out on £200 free cash for energy and grocery bills

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Thousands of households must act NOW or miss out on £200 free cash for energy and grocery bills

THOUSANDS of households have been warned to act now to receive £200 of free cash to help with energy and shopping bills.

A cost-of-living support scheme has now been extended for the sixth time, but Brits must get their applications in quickly to benefit.

Thousands of households have just days left to apply for the Household Support Fund

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Thousands of households have just days left to apply for the Household Support FundCredit: Getty

The Household Support Fund (HSF) was set up by the Government back in 2021 to help those struggling with rapidly rising inflation.

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At the peak of the crisis, the average household’s annual energy bill under the Ofgem price cap rose to over £4,000.

The fund was originally set to run out after about six months, but it has been refreshed in every Budget since then.

The latest round of cash will see the end of the scheme pushed back from next week to Spring 2025.

An extra £421 million is being added to the pot between October 2024 and April 2025.

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Funding comes from the Department for Work and Pensions, but the HSF is administered and distributed by local councils.

This means that each area has its own deadlines and criteria to access the money.

Thousands of households under the umbrella of Birmingham City Council have just days left to get their claims submitted.

Those eligible can receive up to £200, which can be put towards food or energy bills, as well as costs for “essential goods” like water.

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Applications can be submitted by filling out the Hardship Grant Community Fund expression of interest form on the council’s website or by calling 0121 634 7100.

Martin Lewis issues warning to millions of households missing out on Council Tax support

In order to qualify you must:

  • Be a Birmingham resident
  • Be experiencing “financial hardship” in relation to essential costs
  • Not have received a £200 grant payment in the past 12 months

You may also be required to submit proof of address and benefits if you are receiving them.

However, HSF payments do not affect your eligibility for means-tested benefits and Universal Credit.

The council also confirmed that the funding would not be affected by the Section 114 notice, which declared it effectively bankrupt.

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Once you have submitted the form, the council will assess your application and email you about next steps.

Applications close on Monday September 30.

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In-demand hairdressers are downsizing. Good luck getting an appointment

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You could very easily, as I did, walk up and down Brewer Street several times and keep missing the doorway to Michael Douglas’s hair studio. Graffitied from top to bottom, and nestled in London’s Soho district, it could be a threshold of the less than salubrious variety. But hit the right buzzer, cross the hallway, climb a flight of stairs and you’ll find one of the grooviest hairdressing spaces you’ve ever seen — with just a single appointment chair on the premises. 

Unlike a typical hair salon that would be filled with rows of customers in chairs, Douglas’s studio, MD London, is an intimate space that allows for only one client at a time. And to get in, you need to be in the know. There’s no shopfront, no signage, and no access unless you have an appointment.

The polar opposite to the rise of the supersalons (often 5,000 sq ft or more) that we’ve seen in recent years, the counter-trend sees a move towards hair studios with no more than five chairs, where both hairdressers and clients feel less frenetic. There’s no holding pattern at the wash basins, no tight turnaround time, no sitting in foils in front of 30-plus strangers. Studio appointments are more relaxed, personal, individual — even homely. It isn’t about a “big name” above the door (though there may very well be one inside), everyone’s just there for great hair, less ego and a more personal touch.

Fiona Harkin, director of foresight at trend agency The Future Laboratory, says it’s about “this idea of self-care experiences that are really more unique to you”. Clients are looking for more intimate connections, while simultaneously “beauty and wellness are manifesting as experiences that are more therapeutic”.

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The quiet move in hair studios is also the result of Covid. Clients became accustomed to having their hair done at home, where they felt relaxed and the service was solely about them. And hairdressers realised that the appointment book didn’t have to feel like a non-stop, noisy treadmill. For some, there was no way back. 

Douglas, though, was way ahead of the curve. “I’ve had a private studio for about 12 years,” he says. The initial decision was “in a way about me rather than the customer. The thing I like most about my job is the one-to-one nature of it, and I realised that when you’re working on your own with a client, you really get the person.” (Prices start from £120, mdlondon.com).

For the clients, it’s a winner too. “I’m good at my job, but they also love paying extra for the private experience — because obviously you have to charge more,” he says. Without the traditional salon booking structure and its tight schedules, he can allocate the necessary time to each appointment. 

Douglas’s studio holds none of the standard issue “luxury” salon touchpoints such as marble countertops. Even the small wash basin is situated in a corner of his office, at the back, “as that’s where the plumbing is”. But the space feels welcoming, like a living room, and is decked out in mid-century modern furniture. It also offers him flexibility with his (and his clients’) working hours, and the studio doubles up as a creative space for him to work on his hair tools range, filming brand content and YouTube videos, and hosting events such as a recent collaboration with OGX haircare.

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Over in Chelsea, sought-after colourist Sibi Bolan has left the big salon world behind (she was previously master colourist at Josh Wood Atelier) and now works in a small penthouse studio (where celebrity hairdresser Ivan Ferreira also operates), which can host a maximum of five clients but usually has fewer. Again, there’s no street visibility, so the uninitiated are oblivious to its presence. Even the Instagram account is private. Only those with an appointment are allowed past the front door. 

After the pandemic, Bolan sought to step away from “the relentlessness of the salon production line, lots of other chairs and clients, not being able to give that client the full attention and a bespoke service”. She found that her clients too wanted something different after lockdowns. “A lot of them were asking if I could still go to their house, or they could come to mine, but I didn’t want to be washing hair over the bath or for my private space to be littered with hair dyes.” Studio life was the answer. 

Big salons may offer a more luxurious environment but “the clients don’t care about that. They care about the attention to detail and walking out looking great with healthy hair,” says Bolan. “We also have a lot of socialites and VIP clients that appreciate the privacy. People don’t actually need the bravado of a huge salon, they just want to be in their own space, able to work and enjoy their time in a less noisy, open environment.” Many hang out before and after appointments, working or taking calls, adds Bolan, who now runs a waitlist via her Instagram (@sibibolan_colour) and integrates new customers when she has availability (prices start from £235 for single colour).

Bolan can’t imagine going back to a traditional salon environment and neither can Georgia-Fearn Ball of Fluff Hackney. Now going solo with the venture, she set it up with a fellow hairdresser as a two-chair studio, both preferring to be self-employed. 

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Going the studio route wasn’t a financial decision but about creating a different kind of hairdressing environment. “I always wanted it to feel relaxed, like a home from home, a friend’s place where you go for a catch-up, somewhere you can bring your laptop and work,” she says. Clients from her old salon followed her to the studio (located in a large warehouse), enjoying the community feel (cuts start at £68, fluffhackney.com). “It’s completely word of mouth — no one passes by, you can’t walk in, and you need to buzz or know the code for access.” 

Things are going so well she’s moving and upsizing to four chairs — but says she’ll go no higher. “Clients love being more private and able to chill. Being in a standard salon can be quite exposing and your care can get swapped around. Here I do everything, even the basin. It’s super-quality time with someone.” Success may have been “a slight accident” but now it’s definitely a case of go small or go home.

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