Closing Bell

FIFA “dismissed Belgium’s challenge” over the eligibility of USMNT F Folarin Balogun after the governing body decided to suspend his one-game ban ahead of the teams’ World Cup Round of 16 match on Monday. Belgium formally objected to that decision, saying it had “no alternative but to challenge (Balogun’s) eligibility.” However, FIFA’s appeals committee “rendered the request submitted by the Royal Belgian Football Association (RBFA) as ‘inadmissible.’” FIFA did so “on the grounds that ‘the RBFA is not a party to the proceedings and, as such, has no standing to appeal the decision.’” The RBFA “acknowledged receipt of the decision before indicating ‘further actions’ were still open to the federation.” The RBFA in a statement said it informed U.S. Soccer that it “contests the eligibility of the player,” which “leaves all further actions open” (THE ATHLETIC, 7/6).

FIFA President Gianni Infantino on Monday “defended his organization’s decision to defer” USMNT F Folarin Balogun’s one-game suspension ahead of Monday’s World Cup match between the U.S. and Belgium. Infantino said, “FIFA’s judicial bodies are independent.” He acknowledged discussing Balogun’s suspension with President Trump but said that he “explained the ‘ongoing legal process involving FIFA’s independent judicial bodies’ to the U.S. president” (POLITICO, 7/6).

FIFA’s controversial decision to suspend the red card of USMNT F Folarin Balogun -- and President Trump‘s involvement in having it suspended -- have driven the news cycle throughout Monday. As of Monday afternoon, the online homepages of CNN, NBC News, Fox News, ABC News, the AP, N.Y. Times, Washington Post and plenty other news organizations all featured the story prominently -- most often as the top news story (SBJ).

Columnists also continued to weigh in throughout the day on the saga:

• The Palm Beach Post’s Tom D’Angelo: Did Trump pressure FIFA? Balogun ban overturned before World Cup clash.
• The London Guardian’s Pablo Iglesias Maurer: Unwelcome and undue: Trump’s red-card intervention hurts the US’s World Cup more than it helps.
• The N.Y. Times’ Jeanna Smialek and Ali Watkins: Greenland, Tariffs, NATO and Now Soccer. Trump Creates a New Clash With Europe.
• Miami Herald’s Greg Cote: Folarin Balogun back for U.S. is Trump, politics invading this World Cup.

The French Football Federation “launched an appeal to FIFA in an attempt to have Michael Olise’s yellow card rescinded.” The appeal comes at a time of “immense disciplinary controversy within the tournament” following FIFA lifting the red card suspension of USMNT F Folarin Balogun. Olise was booked during France’s victory over Paraguay on Saturday, “leaving him on a disciplinary tightrope ahead of the quarter-finals.” Should Olise receive another caution in Thursday’s quarter-final showdown against Morocco at Boston Stadium, he would be ruled out of the semi-finals. The Athletic reported the FFF has approached FIFA to “rectify what the French officials perceive as a clear officiating error” (GOAL, 7/6).

Meanwhile, England coach Thomas Tuchel “questioned the process” which led to Balogun‘s suspension being lifted and joked that England F Harry Kane could ask President Trump to “help overturn Jarell Quansah‘s red card against Mexico." Quansah was sent off during England’s 3-2 win over Mexico on Sunday. Trump “praised Kane on Truth Social after England’s victory.” When asked whether Kane could lobby Trump over Quansah, Tuchel replied: “Maybe, that’s a good starting point” (ESPN.com, 7/6).

Suns and Mercury CEO Josh Bartelstein is finalizing a new extension, “further cementing” his partnership with owner Mat Ishbia to “shape business and basketball operations of both franchises.” Ishbia said, “From day one, I knew Josh was the right person to help build the culture and organization that I envisioned in Phoenix -- on and off the court. He is my trusted partner in every aspect of our basketball operations [Suns and Mercury] and business side as well.” Bartelstein was Ishbia’s first hire as owner in 2023 and has been “integral in building the foundation of both the Suns and Mercury.” Ishbia hired Bartelstein to “help him overhaul a troubled post-Robert Sarver organizational culture.” Bartelstein is the son of Mark Bartelstein, CEO of Priority Sports and Entertainment (ESPN.com, 7/6).

Morgan Stanley analysts led by Head of European Consumer Staples Sarah Simon said that there is a risk that third-quarter beer sales in Latin America “will fall short of expectations” after Brazil and Mexico were knocked out of the FIFA World Cup on Sunday -- and in the process “quashed hopes for the kind of beer-swilling boom one could have expected if they had pushed on toward the July 19 final.” Morgan Stanley said that Anheuser-Busch InBev, the maker of Corona and Skol, is the “‘most exposed,’ given its sales in Mexico and Brazil,” while Heineken also has “‘meaningful’ exposure.” The shares of both “slumped on Monday,” with AB InBev closing down over 4% in Brussels and Heineken slipping 1.4% in Amsterdam. The “focus now shifts to the US national team,” which faces Belgium later Monday. About 20% of AB InBev’s revenue “comes from the US” (BLOOMBERG NEWS, 7/6).

William Blair & Co. Head of Investment Banking Matthew Zimmer said that acquisitions in the sports industry are “set to increase as investors leverage a slew of different approaches to the fast-growing sector.” Zimmer noted that that is in part as minority stakeholders in many professional teams “look to exit, college athletic associations leverage … name, image and likeness agreements and parents spend more on their kids in youth sports.” William Blair this month acquired Inner Circle Sports, an advisory firm known for deals involving Premier League club Liverpool FC and the 76ers, as the investment bank “makes a play in one of Wall Street’s hottest sectors.” Rob Tillis, who founded Inner Circle in 2002, pointed to “more drivers sustaining team valuations, and making acquisitions more attractive, including real estate developments around stadiums and arenas, media rights growth, as well as international expansion of leagues” like the NBA into Europe. In addition, women’s sports “represent emerging opportunities, with investors pouring into soccer, volleyball and women’s basketball.” Zimmer said that traditional private equity firms are “looking into software and sports services, among other ways to deploy capital in the sector.” Among the challenges investors face is “political scrutiny.” Private capital in youth sports, for example, faces legislation in the U.S. from lawmakers who argue that it “makes sports more expensive and less accessible” (BLOOMBERG NEWS, 7/6).