How Sports Operate as a Local Growth Engine

In 2026, Philadelphia will be a prime time player on the world’s sporting stage —hosting the FIFA World Cup 26, NCAA March Madness, the PGA Championship, and the MLB All-Star Game. But what will it take to translate such global attention into lasting economic impact?

This timely panel, hosted in partnership with the Wharton Sports Analytics and Business Initiative, brings together leaders from government, tourism, sports organizations, and Wharton faculty to examine how hosting major sporting events can influence local economies. From infrastructure investment and public-private coordination to branding and long-term growth, the discussion will explore both the opportunities and tradeoffs cities face when the world is watching.

Join Us for a Conversation on the Economics of Hosting Large Scale Sporting Events

 Tuesday, April 28, 2026

Attend In-Person

12:00 – 1:00 pm EST
Jon M. Huntsman Hall

Must have a Upenn.edu email to register and attend in-person.

Attend Virtually

12:00 – 1:00 pm EST
LinkedIn Live

Meet the Panel

 Panelists

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TIM MCDERMOTT
President
Philadelphia Union

BIO

Tim McDermott serves as President of the Philadelphia Union and Union Sports & Entertainment, overseeing all business operations across the Union, Union II, and the Union Academy. He also leads the organization’s long-term campus development strategy, including Subaru Park, the Union Power Plant, and WSFS Bank Sportsplex.

Since joining the club in 2016, McDermott has driven significant growth in brand strength, fan engagement, and revenue, while reinforcing the organization’s commitment to community impact and the growth of soccer in the region. Under his leadership, the Union have achieved major milestones, including a second Supporters’ Shield, record partnership revenue, and historic highs in digital and media engagement.

A key focus of McDermott’s tenure has been the revitalization of the Chester waterfront, highlighted by the development of the $100 million WSFS Bank Sportsplex—a 170,000-square-foot indoor facility set across 32 acres. Opened in July 2025, the sportsplex serves as a hub for youth development, community access, tourism, and economic growth, while bringing all Union teams and programs together on a single campus.

McDermott also led the club’s landmark naming rights partnership with Subaru of America, resulting in Subaru Park and a sustainability-focused stadium transformation.

Prior to joining the Union, McDermott held senior executive roles with major professional sports organizations including the Philadelphia Eagles, Philadelphia 76ers, and Washington Capitals, and began his career at the Jacksonville Jaguars and San Diego Chargers.

McDermott holds an MBA from Harvard Business School and a bachelor’s degree from Cornell University, where he was a three-year varsity football letter winner. McDermott was a Philadelphia Business Journal 40 under 40 recipient as well as a three-time Power 100 recipient.  He lives in the Philadelphia suburbs with his wife and two children.

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LARRY NEEDLE
Executive Director
PHL Sports

BIO

Larry Needle is now in his 32nd year as executive director of PHL Sports, a division of the Philadelphia Convention & Visitors Bureau (PHLCVB), which attracts major sporting events to the region. Larry’s primary role is to pursue bids for future sporting events and to facilitate their implementation in Philadelphia.

Under Larry’s leadership, PHL Sports—working in partnership with the City and area pro teams, universities and venues—has attracted many premier events to Philadelphia. These include WrestleMania, the NFL Draft, multiple NCAA Championships, the ESPN X Games, the NBA, MLB and NHL All-Star Games and the Army-Navy Game.

In 2026, the city will host the NCAA Men’s Basketball Tournament, PGA Championship, FIFA World Cup and the Major League Baseball All-Star Game against the backdrop of the nation’s 250th birthday celebration.

In 2013, Larry authored a children’s book, Homecourt, based on the life of Red Klotz and the legendary Philadelphia SPHAS basketball team.

Larry is a graduate of the University of North Carolina at Chapel Hill, with a B.A. in Journalism. He currently resides in Merion Station, PA with his wife, Amy, and they have two sons, Eli and Seth.

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ANGELA VAL
President and CEO
VISIT PHILADELPHIA®

BIO

VISIT PHILADELPHIA® President and CEO Angela Val inspires people to visit Philadelphia because Philadelphia inspires her. She leads a diverse team of creative thinkers in building Greater Philadelphia’s image, driving visitation and boosting the economy through day and overnight leisure stays. With more than two decades of experience in tourism marketing, Val assumed the top leadership role at Visit Philadelphia in 2022 — a homecoming after her initial tenure at the organization from 1998 to 2016.

Prior to returning, Val was chief operations officer for integrated destination marketing agency Tempest, and chief administration officer for the Philadelphia Convention & Visitors Bureau (PHLCVB). While at the PHLCVB and Tempest, she served as executive director of Ready. Set. Philly!, a post-pandemic economic revitalization initiative by the City of Philadelphia and Greater Philadelphia Chamber of Commerce.

In 2016, Val was deputy executive director of the Philadelphia Host Committee for the Democratic National Convention. During her first stretch at Visit Philadelphia, Val rose from an executive assistant to chief external affairs officer and helped lead several of the organization’s still-celebrated campaigns and initiatives. She started her career in hospitality in hotels.

Val serves on several boards, including the PHLCVB, Philadelphia Visitors Center Corporation, Chamber of Commerce for Greater Philadelphia, Horizons Greater Philadelphia, 2026 Coalition, The Philadelphia Citizen, Philadelphia250 and the Delaware River Waterfront Corporation. She’s a member of the Mayor’s Business Roundtable, Mayor’s Clean and Green Cabinet, PA Society, Forum For Executive Women, International Women’s Forum and The WHAT.

A warm and effective leader, Val firmly believes in Philadelphia, including its unmatched ability to preserve the past while moving forward. A Drexel University graduate, she and her husband Joe reside in Philadelphia’s Point Breeze neighborhood.

Moderator

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KEVIN KAISER
Adjunct Full Professor of Finance
Senior Fellow, Harris Family Alternative Investments Program
The Wharton School

BIO

Kevin Kaiser is Senior Director of the Harris Family Alternative Investments Program and Adjunct Full Professor of Finance at the Wharton School of the University of Pennsylvania. He was Professor of Management Practice and on the finance faculty at INSEAD since 1992. Kevin holds a BA (Honours) in Economics from The University of Western Ontario and a PhD in Finance from the Kellogg Graduate School of Management at Northwestern University.

Kevin’s research has focused on private equity, corporate restructuring and financial distress, more recently oriented around corporate governance and management for value creation. In addition to his research in academic and practitioner journals and newspapers, he has co-authored two books, The Blue Line Imperative, with David Young, and Becoming a Top Manager, with Michael Pich and I.J. Schecter.

Kevin teaches extensively in Wharton’s executive and degree programmes, earning the Teaching Excellence Award for both Undergraduate and MBA for Executives students in each of the past five years. He joined Wharton in 2017 from INSEAD, where he was an eight-time recipient of the MBA award for Best Teacher for Electives, a three-time recipient of the EMBA award for Best Teacher for Electives and in 2016 received INSEAD’s award for Outstanding Contribution to Executive Education. In 2013, Kevin was a finalist for the Economist Intelligence Unit’s world-wide Business Professor of the Year competition.

He brings to the classroom his deep knowledge of academic theory together with his real-world experience working in the Corporate Finance and Strategy practice of McKinsey & Co. (1997-1999), and as a principal in bfinance.com, a venture capital-financed marketplace for business finance (1999-2002).

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