Against the Run with Katharine Curran: Who Gets to Shape Women’s Football?

00:00:04: We really do believe that if everybody comes together and builds the ecosystem, together in a good way we will all get to a better place.

00:00:13: Football is supposed to be fun.

00:00:16: It's something people give a lot of time A lot effort A lot money too.

00:00:21: If you're not enjoying it then I think you've gone wrong.

00:00:24: And we like to think about how do we build communities that inspire and unite?

00:00:30: Can we focus our capital on doing those things?

00:00:50: Hello and welcome back to Against The Run, the one-on-one conversation series by Stance initiated by FC Zangpaoli and Service Plant Culture produced by Keats Noir.

00:00:59: In twenty twenty six, Stance once again brings together people at the Milan Tour who see football as more than a game!

00:01:07: They understand it as a cultural space shaped by streetwear, design music subculture social conviction and the communities connecting these worlds.

00:01:15: And in this podcast we meet people who do not simply consume culture but actively shape.

00:01:22: We talk about the experiences and communities, The work they do.

00:01:25: The values stand for And moments when They choose not to simply follow the crowd.

00:01:31: My name is Amadeus Tuna.

00:01:32: Once again I have the pleasure of guiding you through next few minutes as our host and resident subculture connoisseur And my guest today is Cath Currin Investor at Monarch Collective The investment platform Dedicated exclusively To women's sports.

00:01:46: Before joining Monarch Kat led marketing at Manchester City Women and worked in strategy, technology an innovation across the city football group.

00:01:56: And please interrupt me if I miss something on your resume?

00:02:01: That's fine!

00:02:02: Sounds like a good resume

00:02:04: to me.

00:02:04: yeah okay that sounds good.

00:02:05: so thanks for having you here under podcast... The first question i would like to ask is when was the exact moment you realise that you want to participate in something like that and not just being someone outside looking on it as well.

00:02:21: Sure, well Fersi thanks so much for having me!

00:02:23: It's a pleasure to be here.

00:02:25: I'm really looking forward this conversation.

00:02:27: So i think my first experience with football was when I was two or three years old... ...I used to play all of time at the garden between trees, put jumpers on the floor.

00:02:41: One versus one penalty shootout anything you can imagine.

00:02:44: so from The very first time I can remember football has been such an important part of my life and for me seeing the impact that it has On the people around me the skills we've learned through football the skills other People learn Through Football really inspired Me to Put That at the Centre Of My Life and sport more generally.

00:03:06: And so when I look back on my childhood, I think about watching TV always football in the morning playing in the garden and really wanting to share that joy and love for me throughout life with as many people as i can.

00:03:22: When you're talking about skills You get through sports.

00:03:27: The obvious things are like the sportive thing itself Learning how Play with the ball like to score goals or two defend goals whatsoever.

00:03:39: But on the other side, I mean there is like the emotional contact you can get through sports and of course with your teammates Like having a connection and working together.

00:03:48: And later on.

00:03:49: i mean we are talking about business as well.

00:03:52: So what was your focusing?

00:03:54: On What was The thing that got you most into it?

00:03:59: think one of their core values that I have is around teamwork, and knowing if you work really well.

00:04:05: You do bring out more working as a team than all the individuals put in together.

00:04:10: so for me That's Really The Power of Team Sports.

00:04:14: i think learning about leadership and resilience Learning how to lose As much as learning How To Win.

00:04:21: And those lessons are applicable In business & relationships and everything that you Do in life.

00:04:27: But I Think Really Comes Back the joy that I get from doing things with other people, working together towards a shared goal.

00:04:35: Whether that's in a business trying to grow whether that's an team trying to win or whether it is in relationship and trying work together with people because they are such magical part of life so easy.

00:04:49: on our world of isolation and social media we hear about loneliness but the team aspect of sport

00:04:57: Women's sports is often described as an investment opportunity that has been undervalued for decades.

00:05:04: What did the market fail to see and why it seeing right now?

00:05:09: I think one of the key things for women's sport is this structure around the sport itself.

00:05:15: that is very nascent and, for a lot of organisations hasn't had the love and care and time put into it to see it grow.

00:05:24: We've seen some real moments that have sparked that.

00:05:27: we've seen individual athletes become cultural icons.

00:05:30: you look at Caitlin Clark in The Effect There on Basketball.

00:05:34: You look at Serena Williams.

00:05:37: That has kickstarted that momentum, it's broken down the perception people don't care about women sports or female athletes.

00:05:45: I think this is one real driver.

00:05:49: The second is a broader cultural movement towards equality and diversity.

00:05:57: different perspectives add value into much of life, and so really we're seeing the empowerment of women more broadly in society flowing through into the sports industry.

00:06:10: And thirdly I think that channels are distribution on control.

00:06:14: content has shifted democratization to social media onto YouTube and TikTok.

00:06:21: People are much more able to vote with their eyes and vote with time on where they're interested.

00:06:27: And so when you see the numbers that come through, actually people are choosing to watch an engage with women's sports and female athletes... ...and those things now coming together in a sort of perfect triangle….

00:06:40: …that enables us then show the value of sport for sponsors to come-in –for fans who engage– That kick starts the flywheel in such an exciting way!

00:06:49: Being an investor now how does it feel and does that gives you more power in building new structures.

00:06:59: I think building new structure is and also enhancing the structures already there, unless some balance to be found between the two.

00:07:08: as investors.

00:07:09: what we're looking for is the opportunities where we see financial on social returns coming together.

00:07:16: sometimes that's building something from scratch, whether that's Angel City starting and saying okay this is how we would design something if we were starting today.

00:07:26: Thinking about sponsorship having a ten percent give back to the local community working with the players and having different revenue structures And sometimes that's working with existing organisations To think in a different way About women sports or invest in it differently or just to put their women's sports team in a different platform and think about it.

00:07:50: In a way that isn't, this is what we do for men.

00:07:53: so I'm going the same with women actually... We are going copy-yes.

00:07:58: some of things work but critically challenge those who don't.

00:08:03: A mixture building and collaborating enhancing

00:08:07: Wouldn't be great if other sides would learn from what you're doing as well.

00:08:15: Like, adapting the good things because I'm always saying like if my neighbour does something great why am i?

00:08:22: Why...I am not a person who might to adapt that aswell.

00:08:26: Because then we both do great thing!

00:08:28: That'd be awesome

00:08:29: right?!

00:08:30: Yeah exactly and for Monika's affirm one of our values is about being collaborative And thats really at core of what were trying to do.

00:08:38: We really believe if everybody comes together and builds the ecosystem together in a good way, we will all get to a better place.

00:08:47: And so we really try to put that in the center of our thinking.

00:08:51: I'm really trying to be helpful to the industry as a whole whether it's other owners or investors because when people come

00:09:10: bringing capital into something can be a good thing or it could also be bad.

00:09:15: So there is very thin line between that, how do you make sure this tends more to the good side of things?

00:09:24: I think its always difficult balance because theres always some tension between people who are already here fans coming for years hardcore fans traditions culture thats been built and tensions with How much of that do you keep, if it appeals to new people coming in?

00:09:43: And that is the same in every walk of life.

00:09:46: That's the same countries as it is in football teams.

00:09:51: I think one of the big things is asking, listening learning where can we be helpful and what is missing here?

00:09:58: There are some big gaps that money is useful for To the extent that we can concentrate on fixing those building infrastructure.

00:10:07: then thats when we prefer focus.

00:10:10: I think a part of it is being humble as well, understanding that when you're coming in to football you out.

00:10:16: You are the custodian and guardian for something here.

00:10:22: Seeing this kind of cultural community asset because thats where so much value is.

00:10:28: The fans there other ones creating atmosphere on match day.

00:10:32: they are filling stadiums watching your content social media.

00:10:38: So much of it really is about listening, learning understanding and then investing in ways that truly do drive the impact.

00:10:47: We like to think how we build communities that inspire and unite?

00:10:53: And can we focus our capital on doing those things?

00:10:57: Are there any formats you set up so they are helpful with building a community?

00:11:04: Is there like a weekly meeting or do you guys to some online surveys?

00:11:14: Where is the point where people come together, because I can imagine it's pretty hard and tough.

00:11:19: Because you cannot really get everyone in even if you would like to open doors for everybody.

00:11:26: Yeah!

00:11:29: The forums that are most successful at the ones why people feel comfortable.

00:11:33: And I think often where we see great success is having fan representatives who can come and talk openly.

00:11:40: I think Victoria Berlin has a really interesting example, they have a suite of angel investors prior to our partnership with them.

00:11:50: And they act as a really good network through all different parts of the community and through to ecosystem.

00:11:56: I also think recruitment is very important at team level.

00:11:59: Who are you bringing in, who run the team?

00:12:03: To be that point between club and fans?

00:12:06: Who's running match day?

00:12:07: or what questions do we ask So much so empowering those teams on the operating side.

00:12:16: Are we asking the right fans, the right questions?

00:12:18: And what are we doing with that

00:12:19: data?".

00:12:20: It's been really amazing actually at Victoria to see even on a match day.

00:12:25: The founders of there were the fans chatting having those open conversations and that drives so much.

00:12:32: it drives the ownership.

00:12:33: It drives the feeling of belonging.

00:12:35: I think it does show us care.

00:12:37: We understand value in our community.

00:12:46: been any point and I'm referring to the first thing you've told us about like being a little child playing football in the garden where your gun into that business side of things.

00:13:02: Having the realization like man, that's such a fucked up business.

00:13:05: What is going on here?

00:13:06: And how can I change it to feel this little kid again?

00:13:09: or was everything running smoothly?

00:13:12: and oh!

00:13:13: This my childhood dream.

00:13:14: The emotions are great It working out very well.

00:13:18: Everything has happened in way i want too.

00:13:20: I think ive always had real sense of pride and joy that I have been able to work in football.

00:13:29: And, you know it is such an incredible industry.

00:13:48: perhaps that openness and friendliness, you would hope to receive going into something where your love so much isn't reciprocated.

00:13:56: I think the way i've chosen to meet this is a very sort of problem-solving mindset working with organisations who do see the vision for why they're trying to get credit at women in football by doing a lot for them coming on their business side really building up strong networks mentoring and support so that you know, but your part of a community off people driving in the same direction.

00:14:26: I think it's been amazing actually to see how much ecosystems changed both on them and sports and women sport side in terms at that diversity.

00:14:35: yes there is more to do And i think thats probably something like back on again with alot pride all of those things that you learn playing football, the resilience pushing through learning how to lose then come through and try make a business side better place.

00:14:56: It is like everything.

00:14:57: it's not perfect but I also think there are lots of things we can do work with people who care or push forward.

00:15:07: so i've been very lucky and continue to approach every day at work.

00:15:12: I

00:15:16: think that's the right choice to do, because otherwise it would be very sad.

00:15:21: But i really feel like you have this positive emotions regarding your work and in the overall picture

00:15:34: Yeah, and one of the core values off Monarch as well something we all love We've all bought into our core value is why?

00:15:40: We mentioned them All The Time Is Joy And it does give us cause every time you open the deck to go and present To someone Everytime You're prepping to come and speak somewhere.

00:15:50: You look at It and you see think yeah Am I taking joy where i'm going?

00:15:54: because Football is supposed to be fun.

00:16:03: If you're not enjoying it, then I think you've gone wrong.

00:16:06: It's true that's really true even if um...it's a tough business as well right?

00:16:13: Yeah and i think with a lot of life things are difficult.

00:16:18: in your working hard to push through You're looking for those things in life That bring you joy Bring new community Make you feel special make you Feel that sense Of belonging And nowhere Really does that better than a football team that you're deeply invested into, which is also why we love this idea.

00:16:35: That were investing in two women's sports to grow those communities because it gives so many more people the opportunity to come and experience what its like to be part of such an incredible institution whether thats in

00:16:48: U.S.,

00:16:49: whether thats Germany or UK something that Football & Sport has all over the world as that sense.

00:16:56: Yes, going up and down with your team.

00:16:57: Your teams not gonna win all the time it's not gonna be perfect but that sense of belonging community you're part something is pretty magical.

00:17:06: This podcast has a subtitle called Against The Run so off course... It stands for something because if against the run then you have to stand for something what's the thing you are standing for?

00:17:21: That was great question I am standing for.

00:17:28: We can make football into something that is incredibly powerful and magical, And there's a lot of negativity at the moment around Football.

00:17:39: The money coming in to it.

00:17:40: we hear a lot about FIFA and governance and institutions But I think At its core There so much To go out with with football and they're So Much good About It!

00:17:51: Where we see women's football that opportunity to reset so much of the narratives around culture, match day tribalism everything that comes with all those negative connotations and where I think women's football is kind of unfairly thought-of as this family friendly calm accessible nice place go enjoy it.

00:18:20: And actually one We talk about as Monarch and we've written in our white paper with service plan, is that being accessible doesn't necessarily mean it's boring.

00:18:34: And don't need to conflate these two things together.

00:18:37: so where I think would like the stand is you can have all of them.

00:18:44: stands for things, has its values.

00:18:47: It can be safe it could be welcoming but also can be dramatic and exciting or passionate.

00:18:56: so let's remove this narrative that women football is the antidote to all of everything bad.

00:19:03: actually just restate you have a positive relationship with passion positive relationship about caring something.

00:19:15: And so, that is definitely something I stand for and hope will come through the women's football ecosystem in a really nice way.

00:19:25: That sounds great!

00:19:27: It

00:19:28: would be.

00:19:29: And especially positive because you framed it in wonderful ways... the things can be positive if you're working on it to be positive with a positive mindset.

00:19:40: And I do really like that, and i'm happy and glad we shared this in our podcast episode.

00:19:46: Really appreciate!

00:19:47: Thanks for taking time.

00:19:48: My name is Amadeus Tuna.

00:19:49: This stands against The Run.

00:19:52: thanks for listening

00:19:58: too.