The NFL has recently made a significant shift by embracing institutional capital, effectively ending its long-standing resistance to private equity investments. In a recent resolution, the league now permits private equity funding for individual teams, aligning itself with major U.S. sports leagues like the NBA, NHL, MLB, and MLS, which have already integrated institutional investments. Remarkably, the only dissenting voice was Mike Brown, the owner of the Cincinnati Bengals, who opposed the proposal, citing his commitment to protecting the financial health of smaller franchises amid soaring team valuations and media revenues.
While this new ownership structure may not produce immediate changes, some industry experts suspect that a gradual transition towards private equity’s profit-centered motives is on the horizon. The NFL has strategically placed limits on private equity investments, restricting individual funds to a maximum 10% stake in any franchise, barring them from decision-making roles, and requiring them to hold their investments for at least six years. Currently, only four funds are allowed to invest, each known for their long-term visions and substantial financial assets. Notably, sovereign wealth funds and similar entities are prohibited from entering the league, in stark contrast to the NBA’s approach, which welcomed a wider variety of investors back in 2022.
Historically, the NFL resisted welcoming institutional investments, believing that the interests of the league and these investors were fundamentally incompatible. While the NFL focuses on the welfare of teams, fans, and the sport as a whole, private equity investors typically prioritize shareholder profits. However, rapidly increasing team valuations—roughly $5.9 billion for the average NFL team, compared to $4 billion in the NBA and $2.6 billion in MLB—have led the league to reconsider its stance. The shrinking pool of ultra-wealthy individuals capable of purchasing teams has further motivated the NFL to open its doors to private equity investments, offering franchise owners essential capital to stay competitive.
The NFL’s initial limits on private equity investments seem designed to maintain its family-oriented image, which is deeply rooted in communities and fan loyalty. During discussions about these regulatory changes, New England Patriots owner Robert Kraft emphasized that the focus would remain on community rather than profit—a statement that invites skepticism. As the league opens itself to private equity investment, the concern is that it may pave the way for a more commercialized and profit-driven future.
The overarching goal of this investment strategy is to diversify the pool of potential investors, inherently increasing competition for ownership stakes. The NFL has kept a tightly controlled ownership model, limiting purchases to a select group of extremely wealthy individuals. Broadening the investor base could drive up team valuations even further, making institutional investments more appealing and harder to ignore.
This speculation is grounded in the experiences of other leagues, such as the NBA, which first embraced outside investments in 2020. Although initial talks highlighted a commitment to community and reputation, the league has since attracted a wider and potentially more controversial array of investors. Although current regulations cap sovereign wealth funds at a 5% stake per club, it’s reasonable to predict that the NFL may follow a similar path toward increased financialization.
The NFL is acutely aware of how unregulated investment practices can negatively affect fan sentiment, as evidenced by recent controversies in European soccer—like the Super League protests and dissatisfaction over rising ticket prices. This awareness might be why the league has cautiously engaged with institutional investments to date. Reports indicate that the NFL plans to claim a share of profits from private equity investors at the time of sale, ensuring that financial gains benefit the league as a whole, rather than just a select few owners.
However, institutional investors—often driven by the desire for high returns—pose their own challenges. In the Premier League, the contemporary focus of sports investment has shifted from exit strategies to generating consistent revenue over extended periods. Investors may find opportunities for lucrative dividends even in clubs that aren’t profit-generating, leading to a revenue-driven paradigm where losses can be leveraged for tax advantages.
Many NFL-sanctioned private equity investors have similar profit-driven motivations as some of the Premier League’s most criticized owners, often holding stakes in European football clubs, which speaks to their focus on revenue streams. For instance, Sixth Street, now permitted to invest in the NFL, has already made considerable investments in Barcelona and Real Madrid.
As the NFL ventures into the realm of institutional investment, it faces the challenge of balancing the attraction of new capital while preserving the sport’s core values. The league has a unique opportunity to avoid missteps seen in other sports, but whether it will capitalize on this moment remains uncertain. The Premier League’s transformation serves as a cautionary tale, demonstrating how new wealth and stadiums can alienate dedicated fans, replacing meaningful experiences with commercial alternatives. Unless the NFL proactively addresses these concerns, it risks following a similar path, succumbing to the pressures of financialization and market demands.
On October 8, in Huzhou, a representative from the Fuxi Street office in Deqing County expressed enthusiasm as they shared, “These potatoes hail from Zhaikong Town in Aba Prefecture, Sichuan Province, where more than 90% of the residents are Tibetan. Almost every household cultivates potatoes, and our collaboration has opened new markets for them!”
Behind the representative, trucks laden with potatoes rolled into Fuxi, delivering a sweet taste from 2,100 kilometers away.
The staff member elaborated on the partnership between Deqing County and Zhaikong Town, emphasizing their joint efforts to stimulate economic growth through industry support and resource sharing. To tackle the issue of unsold potatoes in Zhaikong, Fuxi launched the “Potato Digital Plan,” which included signing a cooperative agreement aimed at shared prosperity and establishing a dedicated delivery network to facilitate the transport and sale of these potatoes.
As part of the “Potato Express,” they’ve teamed up with Zhejiang University of Technology and the local agricultural bureau to train new farmers through both online and in-person sessions. These trainings focus on planting techniques and marketing strategies to boost yield and market competitiveness.
The journey of these potatoes symbolizes a broader community effort in Deqing County, dedicated to fostering shared prosperity and happiness. In recent years, the county has prioritized strengthening a sense of shared identity among various ethnic groups, working to create a warm and inclusive atmosphere for all.
Take Longsheng Village, for example, where girls from the Gelao ethnic group in Sichuan and those from the Zhuang ethnic group in Guangxi coexist. This area has welcomed many new residents, and the sense of community and happiness is flourishing.
A walk through the picturesque Fenghuang Villa in Longsheng Village reveals charming traditional-style homes with white walls and black tiles, set against lush greenery. The village is equipped with essential facilities such as children’s centers, reading rooms, and smart service stations, enhancing the comfort and convenience of life for residents.
Themes of shared prosperity, harmonious neighborhoods, and vibrant culture intertwine to tell the story of Deqing’s ethnic communities.
Currently, Fuxi is leading initiatives like forming ethnic volunteer teams and the Old Wang Studio to promote grassroots governance and conflict resolution, which contribute to the happiness of the community. They’ve also set up the Fuxi Ethnic Arts Troupe and the Pomegranate Red Propaganda Team to enhance cultural performances and outreach, enriching the community’s cultural landscape.
For instance, the Xing Mountain Community, home to over 3,000 permanent residents—including 2,000 newcomers from 19 different ethnic minorities—stands as a model for integrating new and long-standing residents. The Xing Mountain Pomegranate Red Community emphasizes convenience and benefits by establishing ethnic reading rooms, public squares, elderly care facilities, daycare centers, and artistic teams for traditional performances.
Looking to the future, a representative from Deqing County’s United Front Work Department remarked, “We will continue to strengthen a shared national identity and strive to create a happy, livable home for people of all ethnic backgrounds.”
On October 8, representatives from Chengdu Rail Transit Group shared remarkable data about the Chengdu Metro’s performance during the 2024 National Day holiday. They revealed that a staggering 38.88 million passengers were transported across 43 stations, marking a historic peak. Particularly noteworthy was the newly launched Ziyang Line, Sichuan’s very first intercity rail transit line, which recorded an impressive 416,100 passengers over the holiday.
Data from Chengdu Rail Transit Group indicates that the average daily ridership for the metro network surged to 5.55 million during this year’s National Day, positioning Chengdu as one of the top cities in the country. Overall, the total passenger flow for the metro network saw an impressive increase of 5.99% compared to the same holiday in 2023. The Tianfu Airport Line, which connects major terminals including Terminals 1 and 2 along with stations like Lianshanpo and Yixin Lake, achieved record-high passenger numbers during this period. Researcher Chen Xiaoduan from the “Qunar” Big Data Research Institute pointed out that the excellent accessibility of public transport and the wide variety of established tourist attractions greatly influenced tourists’ spontaneous travel choices.
Chengdu boasts over 600 kilometers of operating urban rail transit, with an impressive 33% coverage rate within an 800-meter radius of its stations. This places the city among the nation’s leaders, offering tourists the convenience of finding metro stations within a mere 10-minute walk, enhancing the city’s appeal to travelers.
Before the holiday, the Ziyang Line was launched and faced its first significant test regarding passenger volume during the holiday period. Statistics reveal that the line effectively transported 416,100 passengers throughout the break, averaging about 59,000 passengers per day, with October 1 reaching a peak of 76,000 trips.
During the holiday, passenger traffic at major attractions linked to the metro system reached an astounding 2.62 million, with Tianfu Square Station experiencing the highest single-day traffic on October 1, as over 14,000 people entered to participate in the flag-raising ceremony.
In addition to tourism, Chengdu hosted a variety of concerts and anime exhibitions that drew in younger crowds. Data indicates that passenger flows at metro stations near these venues surged between 52% and 164% year-on-year, with Dujian Station recording the most significant increase. Nearby stations, such as Fenghuangshan Sports Park and Dong’an Lake Sports Park, saw ridership increases of 42% and 21%, respectively, when compared to similar events in 2023. This uptick reflects a growing trend among residents to utilize green transportation for attending events.
The veteran quarterback was unable to pull off one of his signature comebacks as Minnesota narrowly defeated the New York Jets 23-17 in the nation’s capital on Sunday.
With just three minutes left on the clock and his team down by six, Aaron Rodgers found himself in a familiar position. Throughout his illustrious career, he has orchestrated 32 game-winning drives, making this moment should have felt routine. However, this time it felt different.
As Rodgers began pushing the Jets down the field, fans likely hoped for one more magical moment from the experienced quarterback. But at 41 years old, he was unable to deliver. His first attempt was an overthrown pass to star wide receiver Garrett Wilson. Then, with only nine seconds left, the game took a heartbreaking turn when Stephon Gilmore intercepted his pass, sealing the Vikings’ victory.
“I just underthrew it a little,” a visibly frustrated Rodgers said after the game. He also disclosed that he had suffered a low ankle sprain earlier, noting, “I’m definitely banged up. I got my foot caught in the pile there. There were a lot of things that made some noises on the way down.”
The atmosphere at Tottenham Hotspur Stadium was electric, with 61,139 fans in attendance—making it the second-largest sporting event in the UK that weekend. They soaked up the electrifying NFL experience, complete with fist bumps and celebratory moments, as the game unfolded into a slow-burning thriller.
The game’s first half took an unexpected turn when the Vikings quickly established a 17-0 lead, largely due to an uncharacteristically poor performance from Rodgers. He kicked off the night by throwing a pass that was intercepted by Vikings linebacker Andrew Van Ginkel, who returned it for a staggering 63-yard pick-six. Another interception thrown to Camryn Bynum only added to the Jets’ struggles, much to the delight of the crowd, who could be heard cheering as the Red Hot Chili Peppers’ “Give It Away” played in the background. Amid the chaos, Rodgers simply shook his head before retreating to the sideline.
Minnesota’s defensive coordinator, Brian Flores, proved his prowess by implementing a strategy that left the veteran quarterback looking confused. Social media commentators were unanimous in declaring that Rodgers, still recovering from an Achilles injury, appeared ineffective—too slow and hesitant when facing pressure.
However, as the game progressed, Rodgers began to find his footing. He connected with Allen Lazard for a 14-yard touchdown pass, closing the gap to 17-7 by halftime. A field goal from Greg Zuerlein brought the Jets within seven at 17-10, but frustration struck again when Lazard dropped a potential touchdown pass in the end zone.
Despite the Jets’ defense stalling, a long 53-yard field goal from Reichard gave the Vikings a 20-10 lead in the fourth quarter. Still, a one-yard touchdown pass to Wilson made it a nail-biting contest at 20-17. With the Vikings extending their lead to 23-17, Rodgers took the field for what he hoped would be the game-winning drive. Unfortunately, his efforts fell short, leaving the Jets with a disappointing 2-3 record to start the season.
“We’re slow starters, and we make too many mental errors,” Rodgers reflected. He finished the game with 29 completions out of 54 attempts, totaling 244 yards, along with two touchdowns and three interceptions. “There are too many mistakes in general. But I still have a lot of confidence in this team. I believe we have the potential to make a run.”
A silver lining for the four-time NFL MVP came when he connected with tight end Tyler Conklin in the third quarter, making him only the ninth player in NFL history to surpass 60,000 career passing yards.
On the other side, the Vikings head into their bye week with an unbeaten 5-0 record—a feat few anticipated at the season’s outset, where they were predicted to finish last in the NFC North.
“You have to give credit to our defense,” said Vikings head coach Kevin O’Connell. “We needed them today. It was a bit of a sloppy game with some drizzle, but our team didn’t look for excuses. We just kept playing. There are going to be days like this; that’s the nature of our game. I’m proud of the way our guys fought.”
In an interview following the Dodgers’ narrow 6-5 loss to the Padres on October 8th, superstar Shohei Ohtani shared his thoughts on the team’s spirit amidst the challenging situation in the National League Division Series, where they now find themselves facing a must-win scenario down 1-2. Ohtani expressed optimism, stating, “We just need to focus on winning back-to-back games.”
Despite being held to just one broken-bat hit in four at-bats and experiencing two strikeouts during the game, Ohtani remained positive about his performance. “I felt good at the plate. If I could have connected on that one pitch, it could have changed the outcome of the game. It was just a little bit off,” he reflected, noting a fly ball to center field that was caught in the warning track in the fifth inning.
As the Dodgers head into a critical stretch, facing the possibility of elimination, Ohtani emphasized the importance of not dwelling on their current record. “Right now, we just need to focus on winning two games. Keeping that mindset simple is key. Even though we lost today, the atmosphere in the team is still good. Everyone is focused on the desire to win,” he concluded.
In an exclusive interview, we explore the remarkable success of “The Volunteers: The Battle of Life and Death” since its release. According to data from online platforms, the film made a significant impact, surpassing 100 million yuan in box office revenue within just one day of its debut on October 2. It maintained this impressive momentum, achieving the same milestone for two consecutive days, and by the end of its first three days, it accumulated over 300 million yuan.
As the second chapter of the “Volunteers” trilogy, this film focuses on the critical Battle of Tiejian. It tells the gripping story of the 63rd Army of the Chinese People’s Volunteer Army, where 25,000 soldiers valiantly faced off against nearly 50,000 UN forces over an intense twelve-day battle, establishing an impenetrable defense.
Director Chen Kaige emphasizes the film’s intention to honor the unsung heroes of the Korean War. Reflecting on his inspiration for the project, he remarked, “This battle was fought by the children of countless ordinary Chinese families. These soldiers fought with knives and guns, and we must never forget their sacrifices. I hope future generations will remember these nameless warriors.”
Actor Zhu Yilong, who plays Li Xiang, spoke about the character’s significance, stating, “Li Xiang represents the countless volunteer soldiers. In reality, there were many ‘Li Xiangs’ on the front lines. Their brave spirit in fighting for the country is something we, as contemporary youth, should honor.”
Recently, members of a specific unit from the Beijing Garrison’s armed police, linked to the “Heroic Iron Army” 63rd Army’s 188th Division featured in the film, watched “The Volunteers: The Battle of Life and Death.” In a moving scene, when Li Xiang declares, “The first battalion has fallen; we can’t go back. You continue forward,” the soldiers responded with pride, “We will continue forward! We will continue forward! We will continue forward!” This powerful moment resonated deeply with many viewers online.
Facing relentless gunfire, these volunteers fought fiercely for their nation, bravely confronting heavily armored enemy forces. The peace and happiness we enjoy today stand as a testament to the dedication and sacrifices of generations of heroes. Let’s take a moment to honor the valor of those soldiers who fought in the Korean War.
In a recent report from the Central Commission for Discipline Inspection and the National Supervisory Commission, it has come to light that Dou Wangu, the former Vice Chairman of the Xinjiang Uygur Autonomous Region Political Consultative Conference and a member of the Standing Committee, is currently under investigation for significant violations of discipline and law. This investigation follows approval from the Central Committee of the Communist Party of China and was announced on October 7.
Details from the investigation indicate that Dou has strayed from his ideals and beliefs, deviating from his original mission and failing to execute the crucial decisions laid out by the Central Committee. His conduct reportedly violated the principles of democratic centralism, and he was found engaging in opportunistic behavior and associating with individuals involved in political fraud. Dou is also accused of neglecting his responsibility to enforce strict party governance, having accepted invitations that could have compromised his ability to perform his official duties impartially.
Moreover, Dou has allegedly breached organizational norms by seeking to purchase official positions and has provided misleading information during organizational inquiries. His actions crossed ethical boundaries, including unlawfully accepting gifts and leveraging his power to benefit friends and family in business dealings. His misuse of authority extended into areas such as mineral resource development and project contracting, during which he reportedly received considerable sums of money unlawfully.
These actions are serious breaches of the Party’s disciplines regarding political conduct, organizational integrity, and personal behavior, marking significant violations and potential bribery offenses. Alarmingly, in the wake of the 18th National Congress of the Party, Dou displayed a lack of restraint, highlighting the severity and detrimental effects of his actions.
In response to these violations, the Central Commission for Discipline Inspection, after thorough deliberation and the Central Committee’s approval, has decided to expel Dou Wangu from the Party. Furthermore, the National Supervisory Commission will terminate his public office, revoke his qualifications as a representative to the 10th CPC Xinjiang Uygur Autonomous Region Congress, confiscate his illegal gains, and refer his case to the prosecutorial authorities for legal proceedings, including the handling of related assets.
In a landmark announcement aimed at ensuring safe drinking water for all Americans, President Joe Biden is set to unveil a new Environmental Protection Agency (EPA) rule during his trip to Wisconsin. This new regulation comes a decade after the well-documented Flint, Michigan water crisis underscored the severe risks associated with lead in drinking water. The rule establishes a 10-year deadline for cities nationwide to replace their lead pipes.
In a crucial moment amid a competitive presidential campaign, President Biden conveyed the significance of public health at a gathering with union members in Milwaukee. He posed a poignant question, “What is a government for if it cannot protect the public health?” Notably, Milwaukee boasts one of the highest concentrations of lead pipes in the country—a fact Biden labeled as unacceptable in light of ongoing efforts to address this long-standing problem.
“Finally, we’re tackling an issue that should have been addressed long ago in this country,” Biden emphasized, affirming his administration’s dedication to resolving this crisis. EPA Administrator Michael Regan echoed these sentiments, highlighting Milwaukee as a leading example of how cities nationwide are working to eliminate lead from their drinking water supplies.
With over nine million lead pipes still operational, the urgency for action is clearer than ever. The new regulation replaces a less comprehensive standard established by the Trump administration, which did not mandate universal lead pipe replacement. Under the new rule, water systems are required to maintain lead concentrations at or below 10 parts per billion, a reduction from the previous threshold of 15 ppb.
Regan pointed out the undeniable scientific consensus that there is no safe level of lead in drinking water. “Everyone wants this lead out,” he remarked, walking through the positive implications of the new regulations, including the potential to prevent up to 900,000 infants from being born with low birth weights and save approximately 1,500 lives each year from heart disease.
The newly established rule also revises how lead levels are measured, potentially revealing more cities with hazardous lead concentrations. To assist in meeting these standards, the EPA will allocate an additional $2.6 billion for drinking water infrastructure through the bipartisan infrastructure law, along with $35 million in competitive grants aimed at reducing lead levels.
Water utilities will have a three-year preparation period before the 10-year countdown begins. However, some municipalities with significant lead pipe challenges may be afforded additional time to comply with the new requirements.
The task of removing lead pipes poses significant obstacles, particularly as many cities lack accurate records of their water infrastructure. Despite the $15 billion set aside in the 2021 infrastructure law, experts caution that the overall expense could be much higher. Erik Olson, a health and food advocacy expert at the Natural Resources Defense Council, highlighted the widespread public desire to rid tap water of lead, stating, “Nobody wants to be drinking lead-contaminated tap water.”
As the Biden administration forges ahead with stringent new drinking water standards, including measures against harmful “forever chemicals,” achieving its public health objectives will require substantial cooperation and investment at every level.
As we look ahead to 2024, we are not just anticipating the new year; we are also celebrating the 75th anniversary of the founding of the People’s Republic of China. Over these decades, China has undergone a profound transformation, evolving from a nation facing extreme poverty to standing as the world’s second-largest economy. This remarkable journey is characterized by significant advancements in technological innovation, cultural development, social welfare, and ecological preservation—all of which have impacted our daily lives.
In conjunction with this milestone, CCTV’s “Learning Through Art” program has introduced the “An Upward China” series. This initiative encourages viewers to delve into this pivotal historical period through captivating illustrations. As the saying goes, “To get rich, one must first build roads.” The development of rural highways has addressed the pressing need for easy access among millions of farmers, serving as essential “catalysts” for rural revitalization.
In recent years, General Secretary Xi Jinping has highlighted the importance of rural road development, emphasizing the ongoing need for effective construction, management, maintenance, and operation of these vital infrastructures. In May 2024, he renewed his focus on this initiative, advocating for continued efforts and enhanced policies to strengthen governance capabilities. He also called for the introduction of new measures to uplift rural roads, aiming to promote the high-quality development of the “Four Good Rural Roads.”
Throughout the vast landscapes of China, these rural paths connect the aspirations and ambitions of its people, embodying the quest for agricultural modernization and the hope for a brighter future.
I had the pleasure of chatting with the renowned bartender Salvatore Calabrese, who shared insights into one of his standout cocktail creations that masterfully balances flavors. This captivating drink, known as the “Spicy Fifty,” combines the zesty kick of chili spice with refreshing lime and smooth vanilla.
Describing his cocktail, Calabrese likened it to a journey through flavors, where each sip delivers a delightful contrast of sweet and sour, culminating in a warm, spicy finish.
For those eager to recreate it at home, here’s the recipe:
**Spicy Fifty (Serves 1)**
– 50ml vanilla vodka (Calabrese suggests Stoli)
– 15ml elderflower cordial
– 10ml honey syrup (he prefers Monin)
– 2 thin slices of red bird’s eye chili
– 15ml fresh lime juice
– 1 whole red bird’s eye chili for garnish
To prepare the cocktail, combine all the ingredients (except for the garnish) in a shaker filled with ice. Shake it vigorously, then double strain the mixture into a chilled cocktail glass. For the garnish, make a small cut in the whole chili so it can balance on the rim of the glass. Serve and enjoy!
You can also savor this delightful cocktail at Velvet, located in London’s SW1 area.
