1、MGlobal InsightMorgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research.As a result,investors should be aware that the firm may have a conflict of interest that could affect the objectivity of Morgan Stanley Research.Investors should consider Morgan Stanley Rese

2、arch as only a single factor in making their investment decision.For analyst certification and other important disclosures,refer to the Disclosure Section,located at the end of this report.+=Analysts employed by non-U.S.affiliates are not registered with FINRA,may not be associated persons of the me

3、mber and may not be subject to FINRA restrictions on communications with a subject company,public appearances and trading securities held by a research analyst account.Global SportsGlobal Sports:Scoring in the Digital AgeGlobal sports account for half a trillion US$in annual revenues.Proprietary dat

4、a/analysis show changes in demographics,ownership,and distribution can boost tech adoption in the industry and drive a US$130bn revenue uplift.We present key ideas to gain exposure to a more digital sports ecosystem.July 24,2025 08:00 PM GMTMGlobal Insight2ContributorsMorgan Stanley&Co.LLCCesar A Me

5、dinaEquity Analyst+1 212 761-4911 Cesar.M Morgan Stanley Mxico,Casa de Bolsa,S.A.de C.V.+Ernesto GonzalezResearch Associate+52 55 5282-6726 Ernesto.G Morgan Stanley C.T.V.M.S.A.+Gabriel Vaz de LimaResearch Associate+55 11 3048-6088 Gabriel.Vaz.De.L Morgan Stanley&Co.LLCBenjamin Swinburne,CFAEquity A

6、nalyst+1 212 761-7527 Benjamin.S Morgan Stanley&Co.LLCStephen W GramblingEquity Analyst+1 212 761-1010 Stephen.G Morgan Stanley Asia Limited+Praveen K ChoudharyEquity Analyst+852 2848-5068 Praveen.C Morgan Stanley&Co.International plc+Ed YoungEquity Analyst+44 20 7677-1761 Ed.Y Morgan Stanley&Co.LLC