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Walmart teams up with Spain’s La Liga, furthering the retailer’s investment in soccer
Real Madrid’s Spanish defender #20 Francisco Garcia fights for the ball with Barcelona’s Spanish forward #19 Lamine Yamal during the Spanish league football match between FC Barcelona and Real Madrid CF at Estadi Olimpic Lluis Companys in Barcelona, on May 11, 2025.
Lluis Gene | Afp | Getty Images
Walmart is bringing its brand to the biggest match in soccer.
The nation’s largest retailer plans to announce Thursday a partnership with Spanish soccer league La Liga as it looks to expand its foothold in soccer and capitalize on its growing fandom in the U.S.
Under the partnership, Walmart will become the first presenting partner of La Liga’s “El Clásico,” a rivalry matchup between its two powerhouse teams: FC Barcelona and Real Madrid CF.
“Teaming up with La Liga and El Clásico enables Walmart to fuel the energy create unforgettable experiences and give fans more ways to celebrate the game that they love,” Walmart Chief Marketing Officer William White told CNBC in an interview. “Ultimately, Walmart is looking to make it easier for fans to engage and participate in the game.”
The partnership will include a new logo featuring Walmart as the presenting partner for the rivalry matchup, which will be used across the U.S. and Canada and debut this season.
The rivalry game dates back to 1929 and has routinely attracted 650 million viewers across more than 180 countries, according to Walmart and La Liga.
The first El Clásico, which translates to “the classic” in Spanish, of the 2025-26 season is scheduled for Oct. 26 in Madrid, with the second match on May 10 in Barcelona.
Walmart and La Liga will launch the partnership ahead of the first match-up with a full weekend of fan events in Houston starting Oct. 24. The partnership will include large-scale viewing parties, concerts, meet-and-greets with former stars, co-branded merchandise and retail promotions.
“The U.S. is the top market for the league [La Liga] in terms of audience and business outside of Spain,” said Boris Gartner, partner and president at Relevant Sports, which together with La Liga formed the 50-50 venture La Liga North America to represent the Spanish league in the U.S., Canada, Mexico and Central America.
La Liga North America manages the league’s media rights and commercial agreements.
“This is not just about slapping two logos side by side. This is a true partnership with what we’re building,” Gartner said.
Spanish powerhouse clubs Real Madrid and Barcelona have been home to some of the biggest global names in soccer — including superstar Lionel Messi, who played for Barcelona until 2021 and now plays for Major League Soccer’s Inter Miami, and more recently the young French star Kylian Mbappe, who joined Real Madrid.
In the U.S., Disney’s ESPN airs La Liga games on its streaming platforms and TV networks. The company said in August the 2024-2025 season was its most successful for the league on ESPN platforms yet, with 5.4 billion minutes viewed across its networks and streaming services.
The Spanish league’s multi-year deal with Walmart is meant to build on this growing audience for La Liga soccer in the U.S., as well as the growing soccer fanbase ahead of the 2026 World Cup, which will take place across the U.S., Mexico and Canada.
“We came in knowing that the World Cup was happening in 2026 and that the sport was growing significantly in in the U.S., and that we needed to be part of that growth not just from a business perspective for the league in the large media market in the world, but also with the opportunity to help fuel the growth of the sport,” Gartner said.
In July, Walmart struck a multi-year deal with MLS to become an official sponsor and partner of the league. As of early May, MLS sponsorship revenue was up double-digits compared with 2024, CNBC reported earlier this year. Likewise, the U.S. soccer fanbase has surged, particularly since Messi joined the MLS ranks in 2023.
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Novo Nordisk CEO sees 15 million-patient opportunity in Medicare coverage for obesity drugs
Novo Nordisk CEO Mike Doustdar on Wednesday said the company is aiming to capture around 15 million new patients, at least initially, when Medicare starts covering obesity treatments for the first time later this year.
Around 67 million Americans are covered by Medicare, but “when you take a look at specifically our products and the target group, I think around 15 million people would be a good number to target,” he told CNBC in an interview.
Medicare is slated to start covering obesity medicines for the first time later this year under the landmark “most favored nation” drug pricing deals that Novo and its chief rival Eli Lilly struck with President Donald Trump in November.
Health experts say the long-awaited coverage could broaden the market for the medicines and spur more private insurers to cover them. Some experts estimate that 20 million to 30 million Medicare patients are suffering from obesity and related conditions.
Doustdar said Medicare coverage, along with the launch of Novo’s new obesity pill and other factors, should help the company gradually boost prescription volumes and offset lower prices in the U.S. following that agreement with Trump.
But he said he doesn’t expect Medicare access to obesity treatments to open up overnight.
“Now, it would be great if we could find a way to get access very, very fast. But I think that would be a bit naive,” Doustdar said, pointing to the slow adoption seen among eligible patients with commercial insurance.
It’s a slightly more conservative tone on the initial impact of Medicare coverage compared to Lilly, which has cited that coverage as a key tailwind to its guidance this year. Last week, Lilly said it expects Medicare coverage to come online by July.
Meanwhile, Doustdar said Novo is in the midst of negotiations with the government on “exactly which month, which week that is going to be opening.”
Closing the market share gap
Novo is under pressure to claw back market share in the booming GLP-1 space from Lilly and cheaper, compounded copycats. Last week, Lilly said its share of the U.S. obesity and diabetes drug market increased to 60.5% in the fourth quarter, while Novo’s was 39.1%.
Novo has also highlighted a gap in the “preference share” for its weight loss treatment Wegovy versus Lilly’s rival injections. In the U.S., Novo estimates that between 7 and 8 patients out of 10 go to Lilly.
When asked how Novo plans to close that gap, Doustdar said one way to do so is “to do better on the pill.” The company’s Wegovy obesity pill has a head start compared to Lilly’s upcoming oral drug, orforglipron, which is expected to win approval from the Food and Drug Administration during the second quarter.
Mike Doustdar, left, CEO of Novo Nordisk, and David Ricks, CEO of Eli Lilly, listen as President Donald Trump speaks in the Oval Office during an event about weight-loss drugs on Nov. 6, 2025.
Andrew Caballero-Reynolds | Afp | Getty Images
Doustdar said Novo’s pill is slightly more effective than Lilly’s based on separate clinical trials, showing 16.6% weight loss compared to 12.4% with Lilly’s oral drug.
“If you use these two numbers, basically you have a 40% difference between the efficacy of these pills,” he said. “I think this is going to be a very main, main selling point of the pill.”
But Doustdar also pointed to the upcoming approval and launch of a higher dose – 7.2 milligram – of Wegovy that could help win market share from Lilly’s obesity treatment Zepbound.
That higher dose helps patients lose around 21% of their weight, which is “very much on par” with the highest dose of Zepbound, he said. Zepbound’s higher efficacy has been a key factor in driving more patients and prescribers away from choosing Wegovy, which has shown around 15% weight loss on average in clinical trials.
“When that comes to the market, my thought, my wish, my hope is that people will realize, OK, now we have two products with similar efficacy,” he said.
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