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Microsoft Reports $1.7 Billion Drop In Xbox Revenue For The Year
Microsoft's gaming division had a very bad quarter
Microsoft’s cloud business boosts sales as AI investment climbs to $41bn
Revenue in the tech group’s intelligent cloud segment surges 32% to $39.3bn
Xbox revenue drops 10 percent as Microsoft’s cloud and AI business surges
Xbox’s woes continue.
Xbox revenue drops 10 percent as Microsoft’s cloud and AI business surges
Xbox’s woes continue.
Microsoft tops quarterly cloud growth estimates, easing spending concerns
Revenue at the company's Azure cloud-computing business rose 43%.
Could UConn Athletics End Up with a Jersey Patch?
As programs look for a way to bring in every dollar possible, there is a new possible source of revenue.
Biogen Beats Estimates as New Medicines Overtake MS Business
Biogen Inc. reported quarterly revenue and adjusted earnings that beat analysts’ expectations as sales of newly acquired kidney and eye-disease drugs helped offset declining revenue from multiple sclerosis medicines.
Banijay Entertainment H1 2026 Revenues Dip Slightly
Banijay Entertainment has posted its first financials since its mega merger with All3Media
Real Madrid Posts $1.39 Billion Revenue, Record High For Sports Entity
Real Madrid has set a new benchmark in sports finance, reporting a record $1.39 billion in operating revenue for 2025/26, a new high for a sporting entity.
Banijay Entertainment H1 Revenue Drops in Update After All3Media Deal
The company's live events business posted a 49.8 percent revenue gain, driven by the FIFA World Cup and the Winter Olympics.
Banijay Entertainment Revenues Dip In First Post-All3Media Deal Update
Banijay Entertainment's first financials since its merger with All3Media showed half-year revenues down slightly at €1.37B as production volume fell.
What To Expect From Sphere Entertainment’s (SPHR) Q2 Earnings
Content production and distribution company Sphere Entertainment NYSE:SPHRwill be announcing earnings results this Thursday morning. Here’s what to expect.Sphere Entertainment beat analysts’ revenue expectations last quarter, reporting revenues of $386.4 million, up 37.7% year on year. It was a stu…
Madeira business owners say years-long construction project is threatening their survival
Shops report 30% drop in revenue as redevelopment project stretches into third year
Caesars Entertainment (CZR) Reports Q2 Loss, Tops Revenue Estimates
Caesars Entertainment (CZR) delivered earnings and revenue surprises of -850.00% and +1.09%, respectively, for the quarter ended June 2026. Do the numbers hold clues to what lies ahead for the stock?
Caesars Entertainment (NASDAQ:CZR) Breakout Setup on Fertitta Acquisition Overrides Mixed Q2 Earnings
Caesars Q2 earnings mixed: revenue in-line, EPS miss, but stock jumps 21% on Fertitta Entertainment acquisition deal.
Visa Third-Quarter Revenue Climbs, Citing Resilient Consumer, Business Spending
The payments company said profit came in at $5.63 billion amid resilient consumer and business spending.
Caesars Entertainment’s (NASDAQ:CZR) Q2 CY2026 Sales Top Estimates
Hotel and casino entertainment company Caesars Entertainment NASDAQ:CZR reported Q2 CY2026 results topping the market’s revenue expectations, with sales up 3% year on year to $2.99 billion. Its GAAP loss of $0.30 per share was significantly below analysts’ consensus estimates.Caesars Entertainment…
Caesars Entertainment’s (NASDAQ:CZR) Q2 CY2026 Sales Top Estimates
Hotel and casino entertainment company Caesars Entertainment (NASDAQ:CZR) reported Q2 CY2026 results topping the market’s revenue expectations, with sales up...
AMC Entertainment Holdings (AMC) After Record IMAX Demand Is Fair Value Still Lower
AMC Entertainment Holdings (AMC) is back in focus after reporting record IMAX revenue tied to strong demand for THE ODYSSEY. The surge in premium-format attendance comes alongside fresh second quarter 2026 earnings figures. See our latest analysis for AMC Entertainment Holdings. The recent excitement around THE ODYSSEY and AMC Entertainment Holdings' Q2 2026 earnings has coincided with a sharp shift in sentiment, with the share price at $2.51 and a 90 day share price return of 53.05%, but a 1...
Visa posted 14% revenue growth as consumer and business spending held up
The payments company reported net revenue of $11.6 billion and non-GAAP earnings per share of $3.32 for the quarter ended June 30
Texas lawmakers weigh future of data center tax breaks
The cost to the state in lost revenue from data centers has grown from a $14 million estimate over a decade ago to a projected $3.3 billion in sales tax losses over the next two years.
$70 for a popcorn bucket? Movie theaters are seeing big business with blockbuster collectables
AMC, the world’s largest theater chain, estimates it will see $100 million in revenue this year alone from its collectable popcorn buckets.
$70 for a popcorn bucket? Movie theaters are seeing big business with blockbuster collectables
AMC, the world’s largest theater chain, estimates it will see $100 million in revenue this year alone from its collectable popcorn buckets.
Collectable popcorn buckets are big business for movie theaters
Theaters that are always in search of revenue streams have clearly hit upon a winner in those very lucrative collectable popcorn buckets that seem to be ubiquitous with blockbuster movies. KTLA's David Lazarus explains.
$70 for a popcorn bucket? Movie theaters are seeing big business with blockbuster collectables
AMC, the world’s largest theater chain, estimates it will see $100 million in revenue this year alone from its collectable popcorn buckets.
$70 for a popcorn bucket? Movie theaters are seeing big business with blockbuster collectables
AMC, the world’s largest theater chain, estimates it will see $100 million in revenue this year alone from its collectable popcorn buckets.
Packers Made Whopping $753 Million in Revenue Last Season
The Packers, and the NFL overall, remain a financial behemoth.
Shemaroo Entertainment Ltd (BOM:538685) Q1 2027 Earnings Call Highlights: Navigating Challenges ...
Shemaroo Entertainment Ltd (BOM:538685) reports significant EBITDA improvement despite revenue decline, focusing on digital growth and operational efficiencies.
A sold-out crowd celebrates the 2026 Fast 50 honorees
FTB Services, the franchisee of Fuzzy's Tacos and Dave's Hot Chicken, topped the 2025 Fast 50 list with 466% revenue growth over three years.
Booz Allen Profit, Revenue Falls Despite Accelerating Demand
Booz Allen Hamilton reported lower fiscal first-quarter profit and revenue, but the company maintained its outlook and said it is seeing accelerating demand across parts of the business.
AmEx raises 2026 revenue growth forecast as affluent cardholders keep spending
American Express increased its full-year revenue growth forecast and beat Wall Street expectations for second-quarter profit on Friday as its affluent customers continued to swipe their cards for travel and dining despite lingering economic uncertainty.
Is the Amaury Family, Owners of the Tour de France, Hurting Cycling?
The Amaurys of Paris own the race, but won’t share any of the $170 million in media revenue. Sponsors and riders say their resistance is dooming the sport.
SAP Shares Jump After Strong Quarter Reassures Investors of Cloud Business Resilience
Shares climbed after the group logged strong revenue figures, reassuring investors that growth at its cloud business remains healthy despite fears of AI disruption.
Suncoast construction, softer tourism weigh on Boyd’s Las Vegas properties
Boyd Gaming generated $1.03 billion in revenue in the second quarter of 2026, in line year over year, but revenue was down for its Las Vegas locals and downtown Las Vegas properties.
Intel's AI business helps fuel strongest revenue growth in 15 years
Intel beat expectations with its strongest revenue growth in more than 15 years as CEO Lip-Bu Tan credited better execution.
Corporation aims to boost MSU sports revenue. Should it operate in secret?
MSU’s secrecy around Spartan Media Ventures, a new for-profit corporation formed to raise money for sports programs, has some concerned — including members of the university’s own Board of Trustees.
SAP Second-Quarter Revenue Up on Cloud Business Results, Operating Profit Guidance Lowered on Slowing Growth
The German business-software company logged a 9.4% rise in revenue, but saw a slowdown in operating profit growth.
Intel's PC business will be dictated by AI data center momentum: CFRA
Intel (INTC) stock is surging by over 11% in Thursday's extended hours after smashing second quarter expectations, reporting adjusted earnings of $0.42 per share (vs. estimates of $0.21) and revenue of $16.1 billion (vs. estimates of $14.43 billion). CFRA Research senior vice president and equity analyst Angelo Zino dives into Intel's earnings release and what he can garner about the trajectory of the company's PC business.
UNC turns to LLC model as college sports money game shifts
UNC is creating an LLC to manage key athletics programs, aiming for more flexibility and new revenue in a fast-changing college sports landscape.
Winter Garden considers first local business tax increase in more than 20 years
The increase would be less than $10 for most businesses, according to the agenda. Staff estimate the change would generate about $14,000 in additional revenue.
Lazard profit plunges on elevated tax rate, financial advisory volatility
Investment bank Lazard reported a 91% plunge in second-quarter profit on Thursday, hurt by a higher tax rate and a drop in revenue in its financial advisory business.
Immigration sweeps in L.A. cost businesses millions in revenue, UCLA study finds
Researchers found there were 46,000 fewer customer visits among formal businesses within half a mile of nine documented enforcement sites and an estimated $3.16 million in accumulated revenue losses during the two weeks after enforcement activity.
Baton Rouge casinos hit a June swoon
Casino revenue declined across Louisiana's four gaming markets in June, including a 7.4% drop in Baton Rouge, according to the latest figures. The Capital Region's three casinos generated a combine… Already an INSIDER? Sign in. Already an INSIDER? Sign in
Science Corporation's vision-restoring chip wins EU approval
"The thing that the space needs is a company making $100 million a year of revenue," Science Corp. CEO Max Hodak said.
Erlanger Health System signs letter of intent to join Prisma Health
Erlanger Health System plans to join Prisma Health, creating a 27-hospital system in exchange for a $2 billion strategic capital commitment toward care in the Chattanooga, Tennessee area. | The tentative deal includes a $2 billion strategic capital commitment from Prisma, and would yield a 27-hospital, $9 billion operating revenue nonprofit in the southeast.
Forward woos $250M customer, retains at least 50% of business
Forward Air will retain at least 50% of the business of a longtime customer that accounted for around 10% of the motor carrier and logistics business’ revenue.
City sales tax continues steady upward climb
Consumers are spending, businesses are growing -- and it's showing in city sales tax revenue.
Philip Morris Sales Boosted by Growth in International Business
Philip Morris International recorded higher revenue in the second quarter, boosted by growth in its international business and its Zyn portfolio in the U.S.
RIBER: FIRST-HALF 2026 BUSINESS ACTIVITY Business growth, resilient order book and continued rollout of ROSIE
FIRST-HALF 2026 BUSINESS ACTIVITYBusiness growth, resilient order book and continued rollout of ROSIE Bezons, July 22, 2026 – 8:00 am – RIBER, the global leader in molecular beam epitaxy (MBE) equipment for the semiconductor industry, reported 19% revenue growth for the first half of 2026, supported by strong momentum in services and accessories. Against a commercial backdrop marked by tighter export licensing conditions for Asia, the Company is continuing to roll out its ROSIE strategic roadmap
Is AMC Entertainment Holdings (AMC) Fairly Valued After Its Q2 2026 Results?
AMC Entertainment Holdings (AMC) just posted its second quarter 2026 results, giving investors fresh detail on how the cinema operator is performing on both revenue and profitability after a busy movie slate. See our latest analysis for AMC Entertainment Holdings. At a share price of US$2.20, AMC Entertainment Holdings has swung sharply in recent sessions, with a 7 day share price return of 12.24% after Q2 headlines, yet a 1 month share price return down 22.26% and a 1 year total shareholder...
Novant Health cutting some revenue cycle positions system-wide
Novant Health is cutting jobs across its health system, though the number of positions being eliminated has not been disclosed.
CBO investigating feasibility of using healthcare fraud savings to fund Trump’s war
The nonpartisan Congressional Budget Office is looking into the effectiveness of the U.S. Department of Health and Human Services’ crackdown on waste and abuse in safety net healthcare programs, and whether the efforts could effectively generate tax revenue the government could then spend elsewhere.
Is AMC Entertainment’s (AMC) Record Revenue Proof That the Theater Recovery Is Finally Real?
AMC Entertainment Holdings, Inc. (NYSE:AMC) jumped 16% in premarket trading on Monday after reporting record second-quarter revenue and a surprise adjusted profit. Revenue reached $1.60 billion, compared with the $1.47 billion expected by analysts, while adjusted earnings came in at 14 cents per share instead of the expected 6-cent loss. The quarter provides the strongest […]
OpenAI projects ChatGPT ad growth amid market doubts
OpenAI, led by CEO Sam Altman, is working to grow its ChatGPT ad business amid skepticism about its ambitious revenue projections.
North Star Health to close birthing center at hospital in Ogdensburg
Claxton-Hepburn Medical Center is losing revenue operating its 24-labor-and-delivery unit amid months of financial turmoil at North Star.
AMC Entertainment's Strong Showing Was Well-Deserved (Upgrade)
AMC Entertainment delivered a strong Q2 FY2026, with revenue up 14.2% to $1.60B and adjusted EPS beating expectations. Read more on AMC stock here.
AMC Entertainment (AMC) Rockets 25.8% on Record Revenue in 106-Year History
AMC Entertainment saw its share price climb by as much as 25.77 percent during intra-day trading on Monday at $2.44 apiece, after the theater giant posted its highest quarterly revenue in its 106-year history, prompting investors to look past a wider net loss and focus on signs that recovery is gaining momentum. In an updated […]
AMC Entertainment (AMC) Stock Trades Up, Here Is Why
Shares of theater company AMC Entertainment (NYSE:AMC) jumped 17.3% in the morning session after the company reported impressive Q2 2026 earnings results with revenue and Adjusted EBITDA crushing expectations.The cinema chain delivered a blowout second quarter, posting total revenues of $1.60 billion—representing 14.2% year-over-year growth and easily surpassing analyst estimates of $1.47 billion. Profitability metrics were particularly strong, with Adjusted EBITDA soaring to $321.4 million comp
AMC Entertainment Shares Surge On Upbeat Q2 Report, Windfall From ‘The Odyssey’
The world’s biggest theater chain saw its shares surge as it posted the highest quarterly revenue in its history for the three months ended in June.
AMC Entertainment (AMC) Tops Q2 Earnings and Revenue Estimates
AMC Entertainment (AMC) delivered earnings and revenue surprises of +1,300.00% and +5.79%, respectively, for the quarter ended June 2026. Do the numbers hold clues to what lies ahead for the stock?
AMC Entertainment Q2 Earnings Call Highlights
AMC Entertainment (NYSE:AMC) reported what executives described as the strongest quarterly results in the company’s 106-year history, with record revenue, record adjusted EBITDA and sharply improved free cash flow in the second quarter of 2026. Chairman and Chief Executive Officer Adam Aron said mo
AMC Entertainment Q2 2026 earnings: record revenue, surprise profit
The theater chain beat Wall Street estimates on both revenue and earnings as attendance climbed in the U.S. and Europe
AMC Entertainment posted record revenue and a surprise profit as blockbusters packed theaters
The theater chain beat Wall Street estimates on both revenue and earnings as attendance climbed in the U.S. and Europe
AMC Entertainment stock surges after record quarterly revenue and EBITDA
AMC Entertainment Holdings, Inc. (NYSE:AMC) shares climbed 13.
AMC Entertainment soars after strong earnings, massive weekend for The Odyssey
AMC stock jumps after Q2 earnings beat as revenue hits $1.6B and EBITDA surges 70% on strong box office trends.
AMC ENTERTAINMENT HOLDINGS ($AMC) Releases Q2 2026 Earnings
AMC ENTERTAINMENT HOLDINGS ($AMC) posted quarterly earnings results for Q2 2026 on Monday, July 20th. The company reported earnings of $0.14 per share, beating estimates of -$0.06 by $0.20. The company also reported revenue of $1,596,700,000, beating estimates of $1,488,804,013 by $107,895,987.You can see Quiver Quantitative's $AMC stock page to track data on insider trading, hedge fund activity, congressional trading, and more.
AMC Entertainment (NYSE:AMC) Reports Upbeat Q2 CY2026, Stock Jumps 15.2%
Theater company AMC Entertainment (NYSE:AMC) reported Q2 CY2026 results exceeding the market’s revenue expectations, with sales up 14.2% year on year to $1.6...
AMC Entertainment (NYSE:AMC) Reports Upbeat Q2 CY2026, Stock Jumps 15.2%
Theater company AMC Entertainment (NYSE:AMC) reported Q2 CY2026 results exceeding the market’s revenue expectations, with sales up 14.2% year on year to $1.60 billion. Its non-GAAP profit of $0.14 per share was significantly above analysts’ consensus estimates.
AMC Entertainment posts record quarterly revenue $1.60B and adjusted EBITDA $321.4M in Q2 2026
AMC Entertainment reported record quarterly results for Q2 2026, with total revenues of $1,596.7 million and adjusted EBITDA of $321.4 million — the highest quarterly figures in the company's history. Net loss for the quarter was $11.4 million while adjusted net earnings were $104.3 million; adjust…
AMC Entertainment Holdings, Inc. Reports Second Quarter 2026 Results, Delivering the Highest Quarterly Revenue and Adjusted EBITDA in Its 106-Year History
AMC Entertainment Holdings, Inc. (NYSE: AMC) (“AMC” or “the Company”) today reported results for the second quarter ended June 30, 2026, which have been post...
After 106 Years, AMC Posts Its Highest Quarterly Revenue
The results cover the quarter ended June 30, 2026; AMC’s live investor webcast is set for July 20 at 7:30 a.m. CDT, with an archive available for a limited time.
AMC Entertainment Holdings, Inc. Reports Second Quarter 2026 Results, Delivering the Highest Quarterly Revenue and Adjusted EBITDA in Its 106-Year History
Demonstrates for all to see the significant operating leverage inherent in AMC’s business model at a time of rising revenues LEAWOOD,…...
Picklesburgh brings big business boost to local Pittsburgh shops
Picklesburgh draws thousands of visitors, helps small businesses turn one pickle-filled weekend into major monthly revenue.
When Friends Complained About The High Cost Of Wedding Videos, This Entrepreneur Saw Opportunity. She Created A Business That’s On Track For $3.8 Million In Revenue This Year.
Anne Marie Carroll, founder of Wedding Weekender, turned a layoff into a chance to start a business that turns wedding guests into photographers—and creates candid videos to capture the events.
Looking back at the World Cup: Fans drank Boston dry, got permanent tattoos, sold out famous BBQ joints, and drove up small business revenue
From permanent tattoos and drinking Boston dry, to a bar doing nearly 300% of weekly business in one night, the World Cup is helping small businesses.
Rutgers’ AD Keli Zinn Addresses Athletics Deficit on Big Business on Campus Podcast
Rutgers AD Keli Zinn reports drastic revenue increase for Rutgers athletics compared to last year.
Rutgers’ AD Keli Zinn Addresses Athletics Deficit on Big Business on Campus Podcast
Rutgers AD Keli Zinn reports drastic revenue increase for Rutgers athletics compared to last year.
Ohio City Inc. urges Cleveland to create a relief fund for businesses hit with 50+ hour power outage
At least 19 businesses sat in the dark over the Fourth of July weekend due to a 50+ hour long power outage, losing thousands of dollars in inventory and revenue. The costly situation now has Ohio City Inc. asking for change.
Ranking Member Markey, Senator Hirono Reject Trump’s SBA Policy Proposal that Harms Underserved Small Business Owners and Entrepreneurs
Letter (PDF) (Washington, July 17) – Ranking Member Edward J. Markey (D-Mass.) and Senator Mazie Hirono (D-Hawaii) submitted a comment letter to the Small Business Administration (SBA) opposing a proposed rule change by Trump’s SBA to the 8(a) Business Development Program that would harm underserved small business owners and entrepreneurs. The 8(a) Business Development Program was created by Congress more than 50 years ago to level the playing field for small business owners and entrepreneurs who have faced discrimination in starting and operating their businesses. The SBA’s proposed change ignores the existence of historic discrimination that minority and underserved small businesses have faced and continue to face. In the letter, the lawmakers wrote, “SBA’s proposed rule ignores present-day barriers that entrepreneurs from minority and underserved communities face. Discrimination is not dead; minority entrepreneurs continue to face reduced access to contracting opportunities and capital, as well as racial threats and targeting, including unequal treatment, refusal by others to work with minority-owned firms, being called racial slurs, and bias in the workplace. These barriers lead to wide underutilization of, and less revenue for, minority-owned businesses compared to majority-owned businesses, as supported by decades of disparity studies. The proposed rule diminishes the history of systemic racial and ethnic discrimination in the United States by claiming that remedies for discrimination create discrimination in and of themselves.” The lawmakers continued, “The program has always been open to anyone who can prove they have experienced prejudice or cultural bias in education, employment, entrepreneurship, and other facets of our society. Nonetheless SBA has moved forward with the proposed rule. It lacks a reasoned basis, purporting that the federal government has discriminated against White Americans, but offering no substantive qualitative or quantitative data or research in support. If the examples provided in the proposed rule are the only basis for what constitutes discrimination to the agency, they are woefully insufficient. The final rule must provide strong evidence that there is discrimination against White individuals and show how the rule is narrowly tailored to address it. The record remains devoid of evidence of discrimination against White individuals on the basis of race.” Ranking Member Markey is fighting to protect federal programs that address historic discrimination against small business owners from minority and underserved communities, and for a small business agenda that ensures economic opportunity for all. In June, Ranking Member Markey released a statement condemning the SBA’s proposed changes to the 8(a) Business Development Program. Also in June, Ranking Markey released a new report highlighting Trump’s drastic reduction in federal contracting dollars awarded to American small businesses, including minority-owned small businesses. In February, Ranking Member Markey, alongside Senators Hirono and Cory Booker (D-NJ), and Representative Ayanna Pressley (MA-7), introduced the Strengthening Place-based Access, Resources, and Knowledge (SPARK) Act to spur entrepreneurship and increase access to capital and resources for underserved entrepreneurs nationwide. Ranking Member Markey previously held a field hearing in Roxbury, Massachusetts, to discuss how government and the private sector can come together to make entrepreneurship more accessible for underserved communities. Earlier in February, Ranking Member Markey secured funding with the Appropriations Committee for Small Business Development Centers, Women’s Business Centers, SCORE Chapters, and Veterans Business Outreach Centers and provisions to rein in the Administration’s attempts to eliminate programs that support women, veterans, and underserved entrepreneurs. In January, Ranking Member Markey sent a letter to the Consumer Financial Protection Bureau to oppose rule changes that would gut protections against discriminatory lending practices that harm small businesses. In December 2025, Ranking Member Markey sent a letter to SBA Administrator Kelly Loeffler expressing significant concerns with the SBA’s overly burdensome request and unclear guidance for extensive financial documentation over the holidays, as a part of their sweeping attempts to dismantle the 8(a) Business Development Program. In July and December 2025, Ranking Member Markey sent letters to the SBA Administrator demanding answers about the Trump administration’s efforts to limit economic opportunity for American entrepreneurs, including immigrants. In May 2025, Ranking Member Markey sent a letter to the SBA Administrator rejecting President Trump’s FY 2026 budget proposal and calling on SBA to immediately release funding for the entrepreneurial development programs, which include programs like the Women’s Business Centers and the Veteran’s Business Development Centers that support underserved small business owners. In April 2025, Ranking Member Markey introduced the New Start Act of 2025 to establish a five-year pilot program providing grants to support entrepreneurial development training for currently or formerly incarcerated individuals. In February 2025, Ranking Member Markey sent letters to the SBA Administrator and Government Accountability Office (GAO) condemning President Trump’s war on diversity, equity, inclusion, and accessibility (DEIA) policies and asking how the SBA intends to implement Trump’s anti-DEIA executive orders. ###
Trump administration races to rebuild tariff wall knocked down by Supreme Court
The U.S. Treasury last year swelled with revenue from President Donald Trump’s double-digit taxes on imports from almost every country on earth. But the money dried up after the Supreme Court struck down the biggest and boldest of Trump’s tariffs in February. The question now is: Can the president’s trade team make good on its promise to replace the lost revenue?
Young millionaire reveals the wealth-building lessons he learned from billionaires
The young entrepreneur behind 'School of Hard Knocks' shares his strategy for turning a content creator business into multiple revenue streams.
World Cup had a big impact on the LA restaurant industry, numbers show
Overall revenue rose significantly
AMC Entertainment Gears Up For Q2 Print; Here Are The Recent Forecast Changes From Wall Street's Most Acc
AMC (NYSE: AMC) to release Q2 earnings on July 20 before opening bell. Expected loss of 6c/share and revenue of $1.46B.
Neuro Is Building a Nine-Figure Business One Piece of Gum at a Time
These founders cracked $100 million in revenue and their supplement-enhanced gums and mints are on their way to 77,000 stores. Why both Red Bull and Wrigley should be nervous.
Sports without politics is a fantasy and the World Cup proves it
From ancient Greece to Nazi Germany, sport and politics have long been intertwined. Nevertheless, we still imagine that international sport can be kept above the fray and serve as a neutral arena where nations compete on merit alone. In this article, diplomacy scholar Geoffrey Allen Pigman argues the 2026 FIFA World Cup shows this is a dangerous illusion. When international sport is left entirely to revenue-maximizing private bodies like FIFA, it doesn't escape politics, but rather surrenders to its worst expressions. With the 2028 Los Angeles Olympics fast approaching, the IOC must decide whether to learn that lesson or repeat the same mistakes. The largest and most lucrative FIFA World Cup ever draws toward its climactic conclusion amidst a swirl of controversy. Team members, staff, fans, and spectators have been denied their right to enter the United States to participate, and US President Donald Trump intervened with FIFA boss Gianni Infantino to overturn a referee’s call that Trump believed disadvantaged the US national team. It is a moment to step back and reflect on what the purposes of international sport mega-events like the World Cup, and international sport more broadly, are, and what they should be. Does international sport serve public purposes? Is there a public interest? Or is it primarily a private endeavor organized by commercial enterprises to entertain the global public (and generate profit in the process), which is occasionally used by governments and leaders for raisons d’etat? Central to the idea of sport is the principle of fair play, which in the international context demands that games be free from political interference. However, it is impossible to separate sport from politics, all claims to the contrary notwithstanding. The most positive political use of international sport through the millennia has been to facilitate diplomacy. The use of international sport for diplomatic objectives has existed since at least the time of the ancient Olympic Games, around which was instituted the custom of the Ekecheiria, or Olympic Truce, between participating states to facilitate fair competition and diplomatic achievements by ensuring that participants could travel safely to the Olympiad. In his seminal work On Diplomacy (1987), diplomacy scholar James Der Derian characterized the objectives of diplomacy as overcoming alienation and mediating estrangement between governments and between peoples. One increasingly important diplomatic tool in the technology-infused media environment over the past century has been public diplomacy, under which governments and non-state diplomatic actors (e.g. transnational corporations) communicate to global publics about their international policy objectives and to shape their global brand image. Political scientist Michał Kobierecki, in his important book Sports Diplomacy (2020), views sports diplomacy as falling broadly within the ambit of public diplomacy, as international sport intimately involves the participation of global publics as spectators and consumers of global media. Diplomacy scholar Stuart Murray and this author, in a 2013 article, distinguish between international sport used for diplomatic purposes and international sport-as-diplomacy, which encompasses the range of diplomacy that occurs as teams and competitors, spectators and fans, and government officials all converge for international sporting events like the Olympic Games and FIFA World Cup. Diplomacy scholar H.E. Chehabi, in a 2001 article on US-Iran sports diplomacy, describes the interaction between spectators and fans at international sporting events as “people-to-people diplomacy,” in which relationships develop independently of governments and their objectives. Diplomacy by the aforementioned definitions is often unsuccessful. Moreover, all too often the tools of diplomacy may be employed by governments and other actors to thwart or oppose the objectives of diplomacy as characterized by Der Derian. Governments routinely use the tools of public diplomacy to disseminate propaganda, spreading misinformation in the attempt to deceive global publics about their objectives and to create misleading impressions about their brand identity. Within sports diplomacy, the term “sportswashing” has been coined recently to describe how governments invest in and promote international sport to create positive global public impressions of their nations and, in doing so, to distract the global public from their deficient records in areas such as human rights and democratic governance. Murray, in his 2018 book Sports Diplomacy: Origins, Theory and Practice, introduces the concept of sports anti-diplomacy, wherein governments intentionally use international sport to advance aggressive and nationalistic objectives. Obvious historical examples include Hitler’s use of the 1936 Berlin Olympics to glorify his Third Reich and the 1969 El Salvador-Honduras football “war.” SUGGESTED READING The beautiful game made ugly By Emily Ryall FIFA argues that it is and seeks to be apolitical in its stewardship of international Association Football (soccer). FIFA policies governing bids to host the World Cup require uninhibited and non-discriminatory access for players, team staff, and spectators of all participating countries to host nations and venues. It became clear soon after Trump returned to power in the United States in January 2025 that Trump’s political intentions and objectives to limit non-US citizens from living and working in the United States and, in numerous cases, even visiting the country, would collide with FIFA’s host nation policies. Beginning soon after the start of the second Trump administration, US federal authorities imposed restrictions on entry to the United States of citizens of between 20 and 40 countries for any purpose, with only limited exceptions. Federal Immigration and Customs Enforcement (ICE) began arresting non-US citizens in the United States, including persons with and without legal status, holding them in jails, concentration camps, and other detention facilities until they were deported to their home or third countries, where they faced substantive risks to their personal safety. FIFA boss Gianni Infantino, in an effort to ensure the most successful and lucrative World Cup in history, engaged diplomatically with President Trump in an attempt to facilitate entry to the US for World Cup participants. Infantino did all in his power to ingratiate himself with Trump, to the extent of creating a FIFA “Peace Prize,” which he awarded to Trump in December 2025 at a ceremony in the then Trump-controlled John F. Kennedy Center for the Performing Arts in Washington, DC, on the occasion of the World Cup draw. The prize was an ersatz consolation for someone who aspired in vain to win the rather more prestigious and well-known Nobel Peace Prize. And in the run-up to the World Cup, conditions became worse. In February 2026, Trump and Israeli Prime Minister Benjamin Netanyahu launched a war of aggression against Iran, illegal under international law, under the false pretence that Iran’s government was preparing to attack the United States and Israel. During the US aerial bombardment of Iran, US planes bombed Azadi Stadium, the facility where Iran’s national football team trained. As the 2026 FIFA World Cup began, it was clear that Infantino’s efforts had been for naught: the Trump administration would not adhere to FIFA policies governing access to World Cup host nations. World Cup referee Omar Artan, a citizen of Somalia, was denied a US visa to enter the United States to participate in the World Cup. Trump’s government only granted US visas to Iran’s football team ten days before they were scheduled to arrive for the tournament. Numerous members of the support staff for Iran’s team were denied US visas. Iran’s team, which had been scheduled to train in Arizona, was directed to shift its training site to Tijuana, Mexico, notwithstanding that all three of their group stage matches took place at US venues. The US Department of Homeland Security only permitted the Iranian team to enter the US on the day before each scheduled match and then to return to Mexico immediately after playing. Members of Iraq’s and Switzerland’s football teams were delayed for hours by US officials at the US border, and an Iraqi team photographer was refused entry. Spectators and fans from Haïti and Iran were denied entry to the United States altogether. A large number of fans from a range of countries had their applications for US visas rejected. There were multiple off-ramps through which participants could have avoided the negative consequences of Trump’s decisions for the 2026 World Cup. Once it was clear that the Trump government intended to violate the established expectations for World Cup hosts, FIFA could have shifted the matches scheduled to take place in the United States to Mexico and Canada. The three nations were already designated as co-hosts, and host cities and venues had been selected. Once it was clear that FIFA, governed by FIFA boss Gianni Infantino’s dependent and dysfunctional relationship with Trump, would never consider this option on its own, it fell to the national football federations to act. The national federations, particularly some combination of federations of the leading contenders (France, Spain, Brazil, Argentina, Morocco, England, Germany, etc.), could have refused to participate under the US-imposed conditions or, at the least, demanded an ironclad agreement with the Trump government that FIFA policies on access would be respected. ___ International sport is inextricably entangled with diplomacy of different sorts, for good or ill, it cannot be considered to be in the purely private realm and left to revenue-maximizing private actors. ___ Why did neither FIFA nor the national football federations act to protect the interests of players, team staff, referees, fans, and spectators? In essence, the relentless engines of capitalism prevailed over norm observance, ethics, and fair play. The revenue interests of FIFA, sponsors, global media, and host cities won out. FIFA’s managers viewed hosting another World Cup principally in the United States as a veritable pot of gold for FIFA and its collaborators. FIFA has estimated its own revenue over the 2023-26 budget cycle, which includes the 2026 World Cup, at $13 billion, revised up from an initial projection of $11 billion, and 72% higher than the previous revenue cycle. Of that total, FIFA is estimated to have generated $8.9 billion from the Cup itself in revenue from TV rights ($3.92 billion), sponsorships ($2.69 billion), ticket sales ($3.1 billion), licensing rights, and other sources. A joint study by FIFA and the World Trade Organization estimates that the World Cup will contribute over $40 billion to global GDP, including nearly $14 billion in direct visitor spending in the three host countries (but principally in the United States, which hosted the lion’s share of the matches). The FIFA World Cup is now reportedly “the single most lucrative recurring commercial property in global sport.” And yet, notwithstanding the Trump government’s uses of the World Cup for sports anti-diplomacy, and the climate of anxiety that this created for participants and spectators, diplomacy that did not depend upon governments was able to thrive at the World Cup. Examples of successful people-to-people diplomacy were legion, as citizens of towns and cities across the States, as well as in Mexico and Canada, welcomed team members, their families and supporters, to training sites across North America. Fans of different teams joined together in person in stadiums for matches, at watch parties and bars, and at welcome events sponsored by host cities. The joy and camaraderie shared between the citizenry of Boston and Scotland’s “Tartan Army” of fans is but one example of how the “Beautiful Game” brings people together. Friendships forged across continents are likely to endure well beyond the Cup final. Even those achievements cannot be seen as unalloyed, however. As South African football fan Byron Pillay commented to Al Jazeera, “Football is called the Beautiful Game for a reason, for its ability to unite people. But it’s hard to believe in that magic with the politics and war rhetoric off the field of play, especially when one of the tournament hosts is central to that.” Ultimately, the experience of the 2026 FIFA World Cup illustrates that, as international sport is inextricably entangled with diplomacy of different sorts, for good or ill, it cannot be considered to be in the purely private realm and left to revenue-maximizing private actors. As long as there is the possibility of diplomatic progress in mediating estrangement between governments or between peoples, there is a broad and overarching public interest in international sport. Likewise, as it would be difficult to put on an international sport mega-event without international sporting organizations like FIFA and the International Olympic Committee (IOC), global media firms, and companies purchasing sponsorships, public and private interests in international sport must coexist, most likely somewhere on a shifting spectrum between partnership and rivalry or cross purposes. As the World Cup wraps up, the IOC needs to consider its lessons before the scheduled 2028 Los Angeles Olympics if they want to avoid a media-hyped Trump version of the 1936 Berlin Olympiad. The IOC and the National Olympic Committees need to set conditions on and make demands of Trump’s government with clearly articulated consequences for non-compliance, up to and including cancellation of the Games. Time is running out for the IOC, as unlike with the FIFA World Cup, there is no at-the-ready alternate venue for Los Angeles.
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The Quintessential Trump-era Politician
In 2020, I wrote an article about collaboration and collaborators. The title was History Will Judge the Complicit, and it started with the story of two famous East Germans, Markus Wolf and Wolfgang Leonhard, who both landed in East Berlin just after the end of the war. Although they came from very similar backgrounds, the former stuck with the regime, eventually becoming its spy boss; the latter, horrified by the brutal reality of Soviet-style communism, escaped. By way of juxtaposition, I also wrote about Lyndsey Graham and Mitt Romney. These two men also made very different decisions when confronted by Donald Trump’s assault on the ideals that they had both grown up believing: A glance at their biographies would not have led many to predict what happened next. On paper, Graham would have seemed, in 2016, like the man with deeper ties to the military, to the rule of law, and to an old-fashioned idea of American patriotism and American responsibility in the world. Romney, by contrast, with his shifts between the center and the right, with his multiple careers in business and politics, would have seemed less deeply attached to those same old-fashioned patriotic ideals. Most of us register soldiers as loyal patriots, and management consultants as self-interested. We assume people from small towns in South Carolina are more likely to resist political pressure than people who have lived in many places. Intuitively, we think that loyalty to a particular place implies loyalty to a set of values. But in this case the clichés were wrong. It was Graham who made excuses for Trump’s abuse of power. It was Graham—a JAG Corps lawyer—who downplayed the evidence that the president had attempted to manipulate foreign courts and blackmail a foreign leader into launching a phony investigation into a political rival. It was Graham who abandoned his own stated support for bipartisanship and instead pushed for a hyperpartisan Senate Judiciary Committee investigation into former Vice President Joe Biden’s son. It was Graham who played golf with Trump, who made excuses for him on television, who supported the president even as he slowly destroyed the American alliances—with Europeans, with the Kurds—that Graham had defended all his life. By contrast, it was Romney who, in February, became the only Republican senator to break ranks with his colleagues, voting to impeach the president. “Corrupting an election to keep oneself in office,” he said, is “perhaps the most abusive and destructive violation of one’s oath of office that I can imagine.” In the wake of Graham’s unexpected death on Saturday, I wrote about him again. He was, in many ways, the quintessential politician of Trump’s Washington, a man who shifted 180 degrees. Graham had been a fervent American patriot, proud reserve officer and military lawyer; he became one of the most important defenders of a president who believes soldiers are “suckers and losers” and shows no respect for law of any kind. As his politics changed, his language grew coarser and his behavior grew worse: He urged Israel to “level the place” in Gaza, and insulted the Danish prime minister in Munich, prompting a colleague, Senator Elissa Slotkin, to issue an apology. Here’s an excerpt from the article, which you can read in The Atlantic (gift link here) Like his close friend John McCain, Graham believed that America should stand at the center of a broad democratic alliance. The few times I met him were in that context, at the Munich Security Conference or at other European-American gatherings, which he once attended with great regularity. He also took seriously the practice of American democracy at home. In a 2014 conversation with The Atlantic, he described himself as a pragmatic politician who eschewed populist slogans. “I know Washington is broken, but what’s broken about it is everybody yelling and nobody trying to fix it,” he said. “I’m trying.” When Donald Trump first appeared in U.S. politics, Graham recognized him immediately for what he was: the spokesman for an alien ideology, one radically different from the idealistic patriotism that Graham had practiced and preached since childhood. Trump privately mocked the military that Graham loved as nothing but “suckers and losers.” He put falsehoods, cynicism, and personal greed at the center of his politics, while expressing disdain for transparency, accountability, and democracy itself. In 2015, Graham described Trump as a “race-baiting, xenophobic, religious bigot” who should “go to hell.” Also as a “nutjob.” When Trump won, Graham understood, as did so many others, that he would have to make some important choices. For a while, he went silent. In the spring of 2016, I saw him at one of those conferences in Europe. He seemed too depressed to speak. But then, like many other Republicans—and, more important, like many other people who have lived under political occupation or experienced radical regime change—he made the decision to abandon his previous ideals, to bury the patriotism that was once so important to him, and to become, instead, a loud, opportunistic collaborator. As I wrote in 2020, it’s very hard to look in to anyone’s heart and to understand their motivations from the outside. But it does seem that Graham had a deep need to be relevant, to be in the game, to be a player, at any cost. And that, rather than any particular achievement, is what he will be remembered for. Continuing to monitor conflicts of interest, ostentatious emoluments, outright corruption and policy changes that will facilitate outright corruption. (Read my original article, Kleptocracy Inc and check out the SNF Agora Institute chart) June 27 Trump diverted funds from more than 900 projects nationwide—including safety upgrades at national parks—to finance beautification projects around Washington, including $700,000 used to fix a White House walkway. June 28 After a years-long Department of Justice investigation into Abbott Laboratories over its management of a baby formula facility where potentially deadly bacteria turned up enough evidence to criminally charge the firm, top department officials instead opted for a financial penalty—illustrating the department’s move away from strict corporate enforcement under the Trump administration. June 29 Defense Secretary Pete Hegseth stacked the Defense Policy Board—which is charged with providing independent national security recommendations to the Office of the Secretary of Defense—with Trump allies, including tech billionaire Marc Andreessen, who has invested in defense contractors like OpenAI and SpaceX, after purging the panel last year. Trump purchased between $1 million and $5 million worth of stock in Axon—which makes about 90% of US tasers—two weeks before ICE solicited bids for a $220 million taser contract. The White House unveiled limited-edition US passports for America’s 250th birthday, featuring a portrait of Trump overlaid on the Declaration of Independence. June 30 Trump made around $1.2 billion from his various crypto companies last year, including more than $500 million from World Liberty Financial and $600 million from sales of his meme coin. Trump is considering issuing 250 pardons to commemorate America’s 250th birthday. These are expected to be largely doled out through the Office of the Pardon Attorney’s informal network of intermediaries. White-collar defense attorneys say they can typically win pardons for clients for $2 million. Last year, Trump administration officials awarded a no-bid contract worth up to $500 million to Clark Construction for the White House ballroom—negotiations in which the president was directly involved. July 1 The Amazon MGM Studios documentary about Melania Trump earned the First Lady more than $10 million. Trump made hundreds of individual stock purchases worth as much as $12.8 million the day before his announcement pausing “Liberation Day” tariffs for 90 days sent the S&P 500 soaring nearly 10%—one of the largest single-day gains ever. Mar-a-Lago and Trump National Doral saw record surges in revenue during Trump’s first year in office, earning $77.5 million and $121.9 million respectively, compared to average annual revenues of $25 million and $75 million during Trump’s first term. Entities across the Persian Gulf paid more than $300 million to Trump’s businesses last year, including $263 million from the sale of half his stake in World Liberty Financial to a firm backed by Sheikh Tahnoon bin Zayed Al Nahyan, a top UAE royal and brother of the country’s president. Kash Patel failed to properly disclose his stock purchase of a Department of Justice contractor, MicroStrategy, worth up to $250,000 last year, despite laws requiring disclosure within 45 days of the trade. July 2 Trump has been directing administration officials to steer more government contracts—so far worth more than $2.4 billion—to Jeff Bezos’s Blue Origin aerospace firm, after Amazon gave $1 million to Trump’s inaugural fund, donated to the White House ballroom project, and reached a $40 million deal to license a Melania Trump documentary. Alongside the billions he made from cryptocurrency last year, Trump earned millions of dollars from real estate licensing fees, including $21 million from organizations in the UAE and $9.2 million in Saudi Arabia, along with smaller sums from merchandise sales, including $4.7 million from Trump Watches and $35,920 from 45 Guitar, a guitar brand endorsed by the president. House Democrats accused consultants tied to the Trump administration of financial fraud, alleging they gave prospective donors to America250—the bipartisan committee created by Congress to celebrate the nation’s semiquincentennial—the banking and routing numbers for Freedom 250, the White House’s fund for events like the UFC cage fight. Democrats also allege that Freedom 250’s CEO traveled to the World Economic Forum in Davos to solicit donations from foreign government officials and business leaders. The Trump administration’s proposed rollback of gun regulations would lift the prohibition on mailing handguns to individuals, a significant win for GrabAGun—the direct-to-consumer firearm retailer on whose board Donald Trump Jr. sits and in which he holds a 1.1% ownership stake. GrabAGun currently must rely on a middleman to transfer firearms to customers. Trump’s financial disclosure revealed that he made more than 21,000 securities trades during his first year back in office, growing his investment account to at least $858 million across stakes in around 1,600 companies, compared to the 13 total trades Joe Biden made during his entire presidency. July 4 Nearly 1 million people who bought the president’s meme coin—Trump Coin—collectively lost $3.8 billion on the token, while he walked away with $636 million. July 6 Shares of Dell closed up 4.4% after Trump recommended people buy the firm’s computers during a speech announcing the launch of Trump investment accounts for children, boosting the more than $1 million worth of shares the president owns in the company. July 9 Federal Reserve Chair Kevin Warsh named crypto investor and Trump ally Marc Andreessen to a task force aimed at modernizing the Federal Reserve, including rethinking its approach to inflation—a key factor keeping interest rates elevated. Palm Beach International Airport has officially changed its name to Trump International Airport—a move that will require Florida to pay royalties to the president’s family for licensing his name. I was there a few months ago, during a trip to Barcelona. The sculptures were a revelation, I’d never seen so many together before. Each one has its own personality. Enjoy the good weather, if you are lucky enough to have it. History Will Judge the Complicit The Quintessential Politician Autocracy Inc Open Letters, from Anne Applebaum is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Subscribe
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