15, 5, & 5 for the Week of June 10th, 2024
Every week, I put together an expansive document of the top headlines in sports for Rick and colleagues. Below is a condensed form of this document which includes 15 items in sports business to keep an eye out for, 5 Sports Tech issues, and 5 philanthropic/community driven headlines.
15 To Watch:
USA Basketball Excludes Caitlin Clark - Caitlin Clark, despite her impressive performances, was not included in the USA Basketball Olympic roster. Analysts suggest her fanbase's reaction to limited playing time was a factor. The decision underscores the complexities of balancing star power and team dynamics in high-stakes sports, highlighting the challenges of managing expectations and performance.
Florida Approves NIL Deals for High School Athletes - The Florida High School Athletic Association approved NIL deals, allowing high school athletes to earn from endorsements while maintaining eligibility. This policy aligns Florida with over 30 states and marks a significant shift in high school sports. The move aims to balance opportunities for athletes while addressing potential recruitment and competitive balance issues.
U.S. Cricket Stuns Pakistan - The U.S. Cricket Team, led by lefty bowler Saurabh Netravalkar, achieved a historic victory over Pakistan in the T20 World Cup. This victory is comparable to the "Miracle on Ice," emphasizing the growing presence and potential of cricket in the U.S. The team continues to gain traction, with upcoming matches against top-ranked India and Ireland.
NCAA Approves On-Field Sponsorships - NCAA football teams can now feature commercial sponsor advertisements on their fields starting in the 2024 season. This change could provide schools with additional revenue streams, potentially generating up to $3 million annually per school. The rule allows for ads at the 50-yard line and two smaller flanking positions .
Carlos Alcaraz Wins French Open - Carlos Alcaraz secured his first French Open title and third Grand Slam, earning $2.6 million in prize money. This victory positions him as a key figure in the next generation of tennis stars, with total career earnings now at $31.5 million. Alcaraz’s consistent performance signals a shift in the tennis landscape.
Oklahoma Softball Wins 4th National Title - Oklahoma celebrated their fourth consecutive national softball title, drawing thousands of fans to Love’s Field. The celebration included bringing out goats for the senior class, underscoring the community's strong support and the team's dominance. The team’s continued success highlights their exceptional program and fan engagement.
NHL Sponsorship Revenue Surpasses $1.4 Billion - The NHL experienced a 10% increase in sponsorship revenue, surpassing $1.4 billion. The finance sector led with $240 million, and virtual advertising technology accounted for 85% of all virtual sponsorship signage. Teams like the Vegas Golden Knights lead in deals, showcasing the league’s innovative marketing strategies.
Sports Betting Scandals Rise - Recent scandals in MLB and NBA highlight the integrity challenges within sports betting. San Diego Padres’ Tucupita Marcano was banned for life, and Shohei Ohtani's interpreter faced legal action for illegal betting. These incidents underscore the need for stringent regulatory measures to maintain the integrity of sports.
WNBA Carves Out Media Rights Space - The WNBA is negotiating media rights deals alongside the NBA, potentially expanding its broadcast footprint. This strategic flexibility could enhance the league's visibility and financial stability. With record viewership driven by stars like Caitlin Clark, the WNBA is poised for substantial new rights deals.
Jeffrey Lurie Exploring Sale of Eagles Stake - Eagles owner Jeffrey Lurie is considering selling a minority stake in the team, valued at $7.5 billion. This move reflects the rising valuations of NFL teams and the increasing interest from potential investors. Lurie’s decision comes at a time when team valuations are reaching new heights.
Warner Bros. Discovery Acquires French Open Rights - Warner Bros. Discovery acquired rights to the French Open for $650 million over ten years. This acquisition adds to WBD’s sports portfolio amid negotiations with the NBA, enhancing its competitive positioning in the sports media market. The deal reflects WBD’s strategy to diversify its sports offerings.
New Era Acquires '47 Brand - New Era Cap’s acquisition of '47 is set to reshape the sports apparel market, combining two venerable brands. The merged entity is projected to generate $2 billion in annual revenue, leveraging their combined market presence to enhance customer reach and product offerings.
Capitals to Purchase CapFriendly - The Washington Capitals will acquire CapFriendly, a popular NHL salary site, integrating its tools into their operations. This acquisition, which will remove public access to the site, highlights the strategic value of proprietary data in sports management.
Under Armour’s Kevin Plank Faces Compensation Challenge - Under Armour CEO Kevin Plank’s compensation is tied to doubling the company’s stock price to $13 within four years. This performance-based strategy aims to revitalize the company’s market position, with Plank’s 53 million shares poised to significantly increase in value.
Levy Leads Postseason Concessions - Levy hosted over 1.43 million fans across NBA and NHL playoff games, highlighting its dominance in sports concessions. This achievement underscores Levy’s consistent involvement in major sports events and its ability to cater to large audiences.
Sports Tech 5:
Spiideo Secures $20 Million - Spiideo raised $20 million to enhance its AI-powered sports video technology. The investment will expand its product and AI teams, aiming to drive growth in the sports media landscape. Spiideo’s technology is used in over 6,000 venues by more than 4,000 teams globally.
TaylorMade Opens New Golf Ball Plant - TaylorMade Golf expanded its manufacturing with a new plant in South Korea, increasing production capacity to meet global demand. This facility will produce key models like TP5/TP5X balls, enhancing the company’s ability to serve its global markets.
ESPN Debuts Roblox Game for Stanley Cup Final - ESPN launched "ESPN Chaos Run" within NHL Blast on Roblox, enhancing fan engagement with a multiplayer obstacle course. The NHL Blast platform has seen over 20.5 million visits, highlighting its popularity among fans.
OneFootball Launches E-Commerce Marketplace - OneFootball is integrating e-commerce into its platform, allowing fans to purchase merchandise, tickets, and more. This move aims to enhance the fan experience and generate revenue, leveraging AI-driven personalized recommendations.
NY Liberty Launches DTC Streaming Service - The NY Liberty introduced "Liberty Live," offering direct-to-consumer streaming of locally televised games for $4.99 a month. This platform aims to increase the team's broadcast reach and fan engagement, with loyalty programs rewarding active participation.
Good Sports 5:
Premier League Clubs Improve Sustainability - Premier League clubs have made significant strides in environmental sustainability, with initiatives like clean energy generation and sustainable transport policies. Six clubs have set net zero carbon targets, demonstrating a strong commitment to reducing their environmental impact.
UFL Ratings Top XFL and USFL - The United Football League’s first season post-merger averaged 816,000 viewers per game, surpassing the 2023 averages of the separate XFL and USFL. This strong start indicates a healthy appetite for spring football, with six games drawing over 1 million viewers.
PWHL's Inaugural Season Recognized - The Professional Women’s Hockey League’s inaugural season set attendance records and garnered significant corporate partnerships. The league was honored as Breakthrough of the Year at the SBJ Sports Business Awards, highlighting its rapid growth and impact.
Barnsley College and Grassroots Sports Academy Partnership - This collaboration will create over 100 work experience placements in esports, benefiting students and the local community. The initiative aims to equip students with employability skills and practical experience in the esports industry.
Lewis Drug Charity Golf Tournament - The 35th annual Lewis Drug golf tournament in South Dakota raised $100,000 for children’s charities. This event, held at Willow Run, highlights the company's longstanding commitment to community support and its impact on local children's organizations.