World Rugby has signed on with newly created platform Turnstile, in an effort to accurately value existing and future commercial partners.
Turnstile, launched by Gemba Group, will work with World Rugby to better understand valuations of commercial deals in the lead up to the Women’s Rugby World Cup coming up in 2021 and the subsequent Men’s Rugby World Cup in 2023.
The federation becomes the first global sporting governing body beyond Formula One racing to partner with Turnstile.
The company’s valuation formula includes calculating each sponsorship’s exposure, intellectual property value and other benefits such as tickets and hospitality.
“As rugby continues to grow as a global proposition, we were seeking a methodology that captures the full value of the Rugby World Cup,” chief commercial officer of World Rugby, Tom Hill said.
“While the global reach of the events is massive, we believe that the value of the Rugby World Cup is far more than just exposure.
“The unique values of rugby – integrity, respect, solidarity, passion, discipline – resonate globally and we liked the Turnstile approach to capturing our intellectual property value.”
Rob Mills, chief executive and director of Turnstile, added: “The Rugby World Cup is one of the preeminent sporting events and we are incredibly proud that World Rugby chose Turnstile to value their key assets.
“World Rugby’s decision is further proof of the industry’s desire to build a more robust approach to the pricing of sport and entertainment properties.”