Being the CFO of a modern sports team is a dynamic endeavor. Tim Zue, CFO, of the Boston Red Sox (one of the American League's eight charter franchises) talks the other "green monster," the finances of a venerable baseball team, tapping technology to both manage the dollars and cents, as well asdeciding where to invest for fans and team alike:
• Share a little about yourself and your background, your path to the Red Sox, and your path to CFO.
• Reflect a little on our journey the last year through COVID. MLB was hit with our national health response before the season really unfolded last year. Were there strategic decisions that were delayed? Accelerated? Changed?
• How did your financial scenario planning evolve in the last year? The CFO of the Montreal Canadiens put it this way in a session last year: when you can’t plan for the end state, since the end is constantly changing, how do you model?
• What factors drive the Red Sox financial decision framework, not just capital spend for strategic investments but operationally? What are the critical factors in software platforms to manage operational expenses? Expenses like travel?
• What investments have the greatest impact on fan (a.k.a. “customer”) satisfaction and loyalty?
• What lessons have been learned about the evolving importance of technology? Not at a bits and bytes level but as a strategic investment as a franchise/team?
• We’re quickly moving beyond just data. What are the critical privacy/security issues you are managing (general, not specific)? What are the operational/financial risks of increasing cybersecurity attacks, ransomware events?
• What are you most excited about in terms of the future of your sport and sports generally with regards to technology? What are you most concerned about?