Daily Business Report: Aug. 8, 2023
Visual Capitalist
The World’s Most Valuable Football Club Brands
By Pallavi Rao
When the oldest national football competition—the FA Cup—was first played in 1872, the players didn’t get paid, clubs were local associations, and there were no such things as football brands.
Skip ahead a century and a half and many football clubs have comparable levels of global recognition to well-known consumer brands like Apple or Coca-Cola, while simultaneously commanding immense loyalty from fans from all walks of life.
These characteristics have immense financial worth. Today we find out which clubs, aside from competing on the pitch, also compete as football brands. Brand Finance, a brand valuation and strategy consultancy, has compiled a list of the world’s 50 most valuable football club brands.
Prized at $1.56 billion in 2023, Manchester City FC of England’s Premier League takes the top spot as the most valuable football brand.
The club’s brand value grew 13.5 percent in the last year, a testament to the club’s recent and sustained success on the domestic and international fronts. It has won the Premier league seven times since 2011, and in 2023 the club completed a historic “treble” — winning the Premier League, Champions League, and FA Cup, all in one season.
Close on City’s heels, Spain’s Real Madrid CF brand is also valued slightly above $1.5 billion, but is down 14 percent in the last year. The club lost their hold on both their domestic league and European championship titles this season, contributing to their decrease in brand worth in 2023.
San Diego planners vote down end to single-family zoning
The major element of San Diego Mayor Todd Gloria’s housing plan has been voted down by the San Diego Planning Commission. If enacted, the plan would have eliminated single-family zoning in most of the city. The Mayor’s Office said it will not challenge the planning commission recommendation in the City Council.
Fate of former Ritz-Carlton site in Downtown San Diego remains in limbo
The fate of a high-profile Downtown San Diego site once destined for the county’s first Ritz-Carlton hotel remains in limbo amid questions of whether the city has been able to attract any interest from developers to build affordable housing there.
A Friday deadline, which had already been extended for one month, has come and gone with no word from city officials on whether any developers responded to a solicitation to purchase and redevelop the city-owned site at 7th Avenue and Market Street.
Midway Rising team invites community to meeting on Sports Arena project
The Midway Rising’s team will unite with the Midway community and San Diegans to help bring thousands of new affordable homes, a dynamic mixed-use entertainment district and a state-of-the-art arena to the San Diego region.
The redevelopment team invites the public to learn more about its vision for re-imagining what the sports arena could look like with redevelopment, the project’s latest milestones and the journey ahead at an upcoming informational workshop Monday, Aug. 21 from 6-7:30 p.m. at Pacific Ballroom, Hilton Garden Inn Mission Valley/Stadium, 3805 Murphy Canyon Road. Complimentary parking is available onsite. For more information, email team@midwayrising.info.
Fashion Valley’s multimillion-dollar revitalization project continues
Fashion Valley continues to expand its portfolio as part of its multimillion-dollar revitalization project with 21 new retail and food offerings, seven of which are first-to-market, slated to open in the next year.
The center recently welcomed DIOR to its retail lineup. New first-to-market additions coming soon to Fashion Valley include Bottega Veneta, David Yurman, Dolce & Gabbana. and a newly expanded and renovated Prada boutique.
Rolex Boutique Fourtané will also double in size to create a custom San Diego-inspired design concept, which will include multiple private consultation rooms and a two-story exterior facade. These new openings will also join the recently added ALO Yoga, Audi San Diego, Porsche San Diego, and Vuori.
The project includes new escalators, walkways and bridges, refreshed facades and designer seating areas and new landscaping throughout the property. The project is expected to be complete in time for the 2023 holiday shopping season.
How many Cal State employees are accused
of sexual harassment? Here’s why it’s hard to know
By Mikhail Zinshteyn | CalMatters
How many employees at the California State University system were accused of some kind of unwanted sexual conduct in recent years?
Surprisingly, it’s a question no one can answer with confidence even as Cal State, the nation’s largest four-year public university, grapples with the fallout from numerous high-profile cases of sexual harassment and abuse.
A key takeaway from two hard-hitting sets of reports released late last month is that the 23-campus system collects insufficient data.
In one of the reports, the California State Auditor wrote that Cal State lacks “meaningful analysis” to “identify and respond to concerning trends.” The auditor’s report, which was requested by state lawmakers, found that the data on the number of unwanted sexual conduct reports — such as sexual harassment, misconduct, stalking, assault and violence — filed against employees is “unreliable.”
Transformative donor support empowers SDSU’s future
By Tobin Vaughn | SDSU
San Diego State University donors delivered $136,900,569 in gift commitments in 2022-23, a $593,826 increase over the previous year. SDSU Vice President of University Relations and Development Adrienne Vargas said the gifts, which cover the year ending June 30, reflect donations for student support, departments and programs throughout the university ranging from research and athletics to KPBS. “It’s across the board as our donors continue to contribute at an extraordinary level,” Vargas said.
This latest philanthropy news comes just days after the university announced a boost in its efforts to secure an R1 classification from the Carnegie Classification of Institutions of Higher Educationto reflect “very high research activity.” In the past year, SDSU earned $192.2 million in research grants and contracts, which also established a new school record.
Poseida Therapeutics announces $50 million investment by Astellas
SAN DIEGO — Poseida Therapeutics Inc., a clinical-stage cell and gene therapy company advancing a new class of treatments for patients with cancer and rare diseases, announced a $50 million strategic investment by Astellas, which is comprised of the purchase of 8,333,333 shares of common stock at $3 per share for an aggregate purchase price of $25 million and an additional $25 million one-time payment for certain strategic rights, and provided a business update.
Frontier Airlines celebrates anniversary with sales
SAN DIEGO — Frontier Airlines is expanding its series of sales as the airline’s months-long 29th birthday celebration rolls on. The latest promotion includes the option to purchase carry-on bags for $29 each for travel from Aug. 8 through Nov. 15. Additionally, $29 fares and $29 stretch seating are available for nonstop travel valid through Nov. 15. For additional information and to book flights, visit flyfrontier.com.
Taste of East Village Aug. 29-31
SAN DIEGO —For three consecutive days, local East Village restaurants will open their doors for the first Taste of East Village taking place from 4-8 p.m. on Tuesday, Aug. 29 through Thursday, Aug. 31. Foodies will eat, sip and stroll their way through the neighborhood sampling appetizers, entrees, desserts and beverages from more than 35 of San Diego’s most popular restaurants. For more information about the Taste of East Village, visit TasteOfEastVillageSD.com.
NanoImaging Services sets new standards
SAN DIEGO — NanoImaging Services launches new cryo-transmission electron microscopy services to support biologics characterization with full GMP compliance. These cryo-TEM services enable biotechnology companies to gain unique insights into the quality and consistency of their manufacturing operations and finished products. Scientists are able to visualize and understand their new products with unprecedented detail. The NIS San Diego site is the first Good Manufacturing Practice compliant cryo-TEM lab in North America.
Poseida Therapeutics and Astellas announce strategic investment
SAN DIEGO — Poseida Therapeutics Inc. CEO Mark Gergen and Astellas Pharma Inc. President and CEO Naoki Okamura announced a strategic investment to support the advancement of Poseida’s commitment to redefining cancer cell therapy. Under the terms of the transaction agreements, Astellas will invest a total of $50 million, including $25 million to acquire 8,333,333 shares of common stock of Poseida at $3 per share in a private placement and a one-time $25 million payment for a right of exclusive negotiation and first refusal to license one of Poseida’s clinical stage programs.
OncoSec R&D facility and lab goes to auction on Aug. 10
SAN DIEGO — By order of a U.S. bankruptcy court, Tiger Group and Liquidity Services on Aug. 10 will auction OncoSec Medical Inc.’s former immunotherapy laboratory and R&D facility in San Diego. The biotechnology company, which focused on developing intertumoral immunotherapies to target cancer cells by stimulating patients’ immune systems, filed for Chapter 7 liquidation in the U.S. Bankruptcy Court for the District of Delaware this past June. Lots in the timed, online auction for OncoSec begin to close on Thursday, August 10, at 10:25 a.m. Bidding is underway at SoldTiger.com and Liquid Services’ AllSurplus.com marketplace.
TrueCare wheels out new mobile wellness unit
SAN MARCOS — TrueCare has rolled out its newest mobile wellness unit. The addition of this 26-foot mobile clinic brings high-quality health care closer to those most in need throughout North San Diego and south Riverside counties. With their newly expanded fleet, TrueCare can extend its mobile medical and dental services to an additional 3,500 individuals each year. TrueCare’s mobile fleet specifically caters to diverse groups, including underserved communities and those who are experiencing homelessness.
XNK Therapeutics to present two abstracts at San Diego meeting
SAN DIEGO — Sweden’s XNK Therapeutics will participate at the Society for Immunotherapy of Cancer (SITC) meeting in San Diego in November and present the latest research from the company’s leading preclinical projects in bladder cancer and acute myeloid leukemia (AML). Two abstracts have been accepted for presentation at the meeting. The yearly SITC meeting is a multidisciplinary educational and interactive environment focused on improving outcomes for cancer patients by incorporating strategies based on basic and applied cancer immunotherapy.
Airgain expands line of 5G Antennas
SAN DIEGO — Airgain Inc., a leading a leading provider of wireless connectivity solutions that creates and delivers embedded components, external antennas, and integrated systems across the globe, announced the launch of its new RECON13 5G antenna, which expands its popular line of rugged outdoor 5G antennas designed for fleet and public safety vehicles and assets. This is the first entry in a new series of ultra-low-profile antennas designed for applications that require maximum connectivity with minimum space.
Chosen Foods launches Pumpkin Spice Avocado Oil Caviar
SAN DIEGO — Chosen Foods, the maker of Avocado Oil, is launching the first Pumpkin Spice Avocado Oil Cavier. Crafted with Chosen Foods’ 100 percent Pure Avocado Oil and a blend of fall spices, including cinnamon, ginger, nutmeg and allspice, Pumpkin Spice Avocado Oil Caviar is a delicious way to add the bold, warming flavors of fall to your favorite foods. Chosen Foods Pumpkin Spice Avocado Oil Caviar is now available exclusively on Chosen Foods’ website for $19.99.
