2025: The Year Naked Ambition Got Punished

An End-of-Year Accounting of Power Shifts in Sports Media, Media Rights Leverage, and Strategic Misreads

“Markets can remain irrational longer than you can remain solvent.”

John Maynard Keynes

The Moment an Asset Re-Entered the Room

2025 was the year naked ambition got punished.

Not quietly. Not philosophically. Financially.

Companies that chased scale by overpaying for certainty instead of preserving leverage felt it first. Platforms that locked themselves int…