Greenlit Advisory

Sport · Events · Assets · Real estate

Get the green light. Backed by the numbers.

Feasibility studies, financial models and business cases for sport, events, assets and real estate. Every answer is a clear no, a yes on conditions, or a clear yes.

Book a scoping call See the work
SAR 100bn+sport portfolio business case, taken through board
3 stadium cases45,000 to 90,000 seats, all approved at review
36projects and major events in one operating budget
700+assets and initiatives in a single case

Our vision

Every investment greenlit on evidence

Our mission We give anyone investing in sport, events, assets and real estate the evidence to decide with confidence, through feasibility studies, financial models and business cases.

A clear no

Weak projects stopped before capital is committed.

Yes, on conditions

The risks named, and what must be true to proceed.

A clear yes

Evidence a board can sign off with confidence.

  • TransparentModels anyone can audit, with every assumption visible.
  • BenchmarkedUnit costs tested against comparable events.
  • Decision-readyPapers written for boards, not for modellers.

Who we help

Anyone making a major investment

Clubs and leagues

Stadium, academy and ownership decisions.

Federations and rights holders

Tournament and programme budgets.

Governments and ministries

Venue and programme business cases.

Developers and operators

Feasibility and funding cases for venues, destinations and real estate.

Cities and bid teams

Host-city and bid economics.

Investors and owners

Due diligence on sport, events and real estate assets.

The moment we are called

A stadium or venue decision A bid or tender A club or asset acquisition An event budget to defend

What we do

From first question to final yes

Feasibility

Is the project worth doing? Demand, site and option appraisal, ending in a clear go or no-go.

Seen inEconomic inputs for an Olympic and Paralympic venue master plan

Model

Three-statement models, IRR and NPV, capex and opex phasing, scenarios and sensitivities.

Seen inSport and entertainment asset models for a giga-project

Business case

Green Book-style papers for ministries, owners and investors, from strategic case to funding ask.

Seen inThree multi-use stadium cases, all approved

Deal

Due diligence, JV set-up, privatisation and partnership assessment.

Seen inA JV, a Saudi Pro League club takeover and major partnerships

Ways to start

Pick your starting line

Feasibility sprint

A go or no-go on one investment: demand, site and option appraisal, a first-cut financial model and a clear recommendation.

Typically 2–4 weeks

Investment model and business case

Board-ready numbers for a funding decision: a three-statement model, IRR and NPV, capex and opex phasing, scenarios and a Green Book-style paper.

Typically 6–10 weeks

Bid and tender support

The financial and commercial approach and economic inputs for a competitive bid, as lead or as sub-consultant to a larger team.

Scoped to the bid

Selected work

Proof, not promises

Four briefs from sport, events and major asset investment, from a portfolio business case to deals.

Portfolio business case

A SAR 100bn+ sport portfolio business case

A sport portfolio with no finance function or business case in place, taken through executive committee and board scrutiny.

SAR 100bn+of capex across the portfolio
700+assets and initiatives in one case
Up to 25%IRR on commercial opportunities

What was in the portfolio

StadiumsCommunity sport and gymsAdventure sport hubsBowlingGo-kartingHorse racing track

How the case was built

700+ assets scoped Capex phasing Opex ramp-up Commercial models Board approval

How the model answered the board

The board asked

Is the revenue too optimistic?

The model answered

Downside and sensitivity scenarios on the major revenue drivers, so the board sees the range, not one number.

The board asked

Where is the contingency?

The model answered

Contingency plans and allowances built into capex and opex, so overruns have a funded answer.

The board asked

Can it all be delivered on time?

The model answered

Capex phased to the delivery schedule, with forecasts tied to it and tracked in monthly performance packs.

The board asked

What about assets that will never make money?

The model answered

Strategic assets protected with service-level logic, kept apart from commercial IRR targets.

Stadium business cases

Three stadium business cases, three approvals

Stadiums of 45,000 to 90,000 seats, structured as PPPs with full commercial modelling, written for a national ministry under EXPRO guidelines, the Saudi equivalent of the HM Treasury Green Book.

Multi-use stadium 1Passed review, approved
Multi-use stadium 2Passed review, approved
Multi-use stadium 3Passed review, approved

Challenge

  • Three multi-use stadiums of 45,000 to 90,000 seats needing ministry approval
  • A prescribed format: EXPRO guidelines
  • A review that challenged every assumption in the case

Approach

  • A full business case for each stadium, written to EXPRO guidelines
  • PPP and commercial modelling, with capex and opex phasing and three-statement models behind each decision
  • Every assumption evidenced and defended in review

Result

  • All three stadium business cases passed review and were approved
  • Investment decisions on sport and entertainment assets backed by full financial models
  • Economic inputs for an Olympic and Paralympic venue master plan

Events operating budget

An events budget built from unit costs

An Event Operations OpEx budget covering 36 projects and major events, with SAR billions of operating cost.

Unit costs Bottom-up model Tested against comparable events Event Operations OpEx budget

Challenge

  • An Event Operations OpEx budget covering 36 projects and major events
  • SAR billions of operating cost, with unit costs stakeholders can test and defend
  • Host-country budgets and venue overlay costs for a future World Cup

Approach

  • Model built bottom-up from unit costs
  • Unit costs tested against FIFA World Cup Qatar 2022 and other comparable events
  • Governance designed to meet state reporting rules

Result

  • Benchmarks drawn from a USD 1.2 billion tournament budget
  • Models for ticketing, sponsorship, workforce and commercial programmes that protected margins
  • Budget advice for World Cup 2034 stakeholders

Transactions

Deals: a JV, takeovers and partnerships

Structuring and testing each transaction so that governance, controls and reporting are ready from day one.

A sport JV

  • Set up the entity that operates the portfolio’s assets, with its capital structure, governance and reporting
  • A profitable standalone company running the assets from the portfolio business case

Takeovers

  • Due diligence, controls and first-time reporting for the takeover of a Saudi Pro League club, and a turf acquisition
  • Club transferred under the privatisation programme, then led its finance

Major partnerships

  • McLaren (Formula E and Academy), the Asian Football Confederation and Rajasthan Royals (IPL/BCCI)
  • Brand-exposure deals worth up to SAR 200m a year, adding long-term revenue within approved budgets

Hardest issue in due diligence: long-range revenue projections.

Contact

Got a big decision? Let’s get you to yes

Book a free 30-minute scoping call. Tell me the decision you need to make and the date you need it by.

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