| From | Front Office Sports <[email protected]> |
| Subject | Formula Eyes Fourth U.S. City |
| Date | April 20, 2023 11:24 AM |
Links have been removed from this email. Learn more in the FAQ.
Links have been removed from this email. Learn more in the FAQ.
April 20, 2023
Read in Browser [[link removed]]
POWERED BY
The 2023 NFL Draft in Kansas City will have the largest stage [[link removed]] and the biggest screens in league history — a structure the size of a football field. The event has already registered 100,000 people, and the league estimates 300,000 total visitors.
Leagues Formula 1 Open to Fourth U.S. Race [[link removed]]
Jerome Miron-USA TODAY Sports
Formula 1 already has an unprecedented three U.S. races — but that doesn’t mean it couldn’t add a fourth.
F1 CEO Stefano Domenecali hinted that he was open to exploring additional cities in the U.S. in an interview [[link removed]] with Sky Sports. The series is already racing in Austin, Miami, and Las Vegas this year.
“There is a lot of interest in far East Asia, more interest in the U.S.,” he said, adding that “we have three [in the U.S.], which I think is the right number for the next couple of years.”
Speculation has gravitated toward New York City.
“It would be amazing,” said Red Bull principal Christian Horner earlier this year. “A race here in the Big Apple, for example — what a spectacle that would be.”
F1 director of media rights Ian Holmes agreed, telling [[link removed]] Front Office Sports last year, “Who wouldn’t want to race in New York?”
But the F1 calendar may be reaching capacity with 23 races this year — after the Chinese Grand Prix was canceled — and there’s interest in bringing a race to South Africa.
Honda Turning to Aston Martin?
Reports surfaced [[link removed]] this week that Honda could pair up with Aston Martin heading into 2026.
The Japanese carmaker currently supplies engines to Red Bull and AlphaTauri, but those teams will work with Ford and Red Bull Powertrains heading into 2026, when engine regulations are overhauled.
An exclusive deal with Aston Martin could have domino effects on Mercedes, which currently supplies the British team’s engines. Mercedes principal Toto Wolff is also an investor in Aston Martin.
PODCAST
🎙️ They Said What?
“[While] watching cutups of plays, I envision myself making cuts and seeing things that I typically don’t see. I found so many times that visualization practice, it transferred over into the game. I would do things on the field that shocked myself.”
— Former Heisman Trophy winner and NFL star Ricky Williams on why he believes using cannabis while he was in the league improved his ability on the field. For more on our interview with Williams, check out the latest episode of Front Office Sports Today.
Listen and subscribe on Apple [[link removed]], Google [[link removed]], and Spotify [[link removed]].
Law Ex-Vikings Minority Owner Could Face $740M Fine For Crypto Scheme [[link removed]]
Mark J. Rebilas-USA TODAY Sports
Prosecutors in Manhattan’s federal court want former Minnesota Vikings minority owner Reginald Fowler to serve seven years in jail and forfeit more than $740 million for his role in a crypto scam.
Fowler is accused of establishing Global Trading Solutions LLC to support a money-laundering front for cryptocurrency companies working with Crypto Capital, which allowed cryptocurrency firms to swap their digital currencies for cash.
Crypto Capital operators Oz and Ravid Yosef are defendants in the case alongside Fowler but remain at large, according to Bloomberg [[link removed]].
The former Vikings owner (from 2005-2014) was also a recent investor in the failed Alliance of American Football. Fowler allegedly opened several accounts with U.S. banks by falsely claiming they were for real estate transactions when the funds were helping facilitate crypto transactions instead.
In April 2022, the 64-year-old Fowler pled [[link removed]] guilty to wire and bank fraud, as well as conspiracy to operate an unlicensed money-transmitting business. In last year’s plea agreement, Fowler admitted [[link removed]] to defrauding people associated with the AAF, which shut down after just eight weeks of play in 2019 following Fowler’s decision to withdraw his majority investment in the league.
The suggested $740 million fine and seven-year prison punishment follows Fowler’s rejection of a previous deal to forfeit up to $370 million.
Fowler is set to be sentenced Thursday by a federal judge in New York’s Southern District court.
SPONSORED BY CBS SPORTS GOLAZO NETWORK
All Soccer. All Day. Streaming Free.
CBS Sports Golazo Network [[link removed]], the first-of-its-kind, free, 24/7 channel dedicated exclusively to global soccer coverage is NOW STREAMING on the CBS Sports App, Pluto TV and Paramount+!
Get your morning started off on the right foot at 7 a.m. ET with Morning Footy [[link removed]], their weekday, soccer culture-driven morning show.
And stick around for their comprehensive programming lineup including FREE live matches from the NWSL, Italy’s Serie A, Scottish Premiership, Brasilierão, Argentina’s Liga Profesional de Fútbol and the UEFA Europa League. Plus, UEFA Champions League re-airs, original studio shows, highlights, documentaries and much more.
CBS Sports Golazo Network is the ultimate year-round streaming destination for fans of the beautiful game. Stream now [[link removed]].
Media Premier League Reportedly Making Moves to Grow Media Rights Value [[link removed]]
Premier League
Riding its popularity, the Premier League is offering more to broadcasters as new media negotiations loom.
The U.K. league is preparing to offer an additional 60 live games to broadcasters in its next domestic rights deal, according [[link removed]] to the Telegraph — which means that 260 of the league’s 380 games per season would be broadcast live, up from the current 200.
However, there are no indications that the league will get rid of its “3 p.m. Saturday blackout” rule which dictates that no games be broadcast live between 2:45 p.m. and 5:15 p.m. local time on Saturdays.
The potential move comes at the perfect time for the league, as the Prem’s media rights are as valuable as ever.
Sky Sports, BT Sport (rebranding to TNT Sport this summer), and Amazon Prime Video hold the league’s domestic rights for a collective $6 billion for the three-year cycle ending with the 2024-25 season. Sky holds the largest chunk, with rights to 128 matches.
The league’s international rights reached $6.3 billion for this cycle, topping the domestic haul for the first time.
Of the total sum from media rights, $2 billion is distributed to lower-tier leagues, while the bulk goes to the Premier League’s 20 clubs.
Negotiations for the following three years are expected to begin later this year.
Commerce SeatGeek Reportedly Files to Go Public After Failed SPAC Merger [[link removed]]
Soobum Im-USA TODAY Sports
Ticketing company SeatGeek filed confidentially with regulators earlier this month to go public, according to a new report from The Information [[link removed]].
Front Office Sports reached out to SeatGeek, but a communications representative for the company declined to comment on its reported IPO.
SeatGeek’s planned IPO follows its previous attempt to go public via a SPAC merger with RedBall Acquisition Corp. Still, both parties agreed to terminate [[link removed]] the deal last June due to market conditions. That merger would have valued SeatGeek at $1.35 billion and included investments from Kevin Durant’s Thirty Five Ventures and Utah Jazz owner Ryan Smith.
SeatGeek, which recently signed a reported $100 million deal [[link removed]] to become MLB’s official ticket reseller, is not the only ticket operator making reported moves to go public. StubHub filed paperwork with the SEC to pursue going public via a direct listing that would value the company at $13 billion, according to a Jan. 2022 report [[link removed]] from Bloomberg.
Secondary ticket marketplace Vivid Seats [[link removed]] went public in Oct. 2021 after a SPAC merger backed by Los Angeles Dodgers owner Todd Boehly and DraftKings. Vivid Seats’ stock price is currently down about 37% to $7.44 since going public.
Conversation Starters On Wednesday, the PGA Tour filed a motion [[link removed]] to dismiss an appeal filed by Saudi Arabia’s Public Investment Fund — LIV Golf’s major financial backer — in the latter’s antitrust lawsuit. The PIF is challenging a discovery decision favoring the PGA, while the Tour is arguing that the former has no legal standing. Former NBA player Dion Waiters has listed [[link removed]] his 14,000-square-foot Miami-area home for $18 million. The property boasts nine bedrooms, 11 bathrooms, a home theater, several swimming pools, an outdoor kitchen, and yard space for a basketball or tennis court. The Walt Disney Company reportedly wants to begin its layoff process at ESPN next week. FOS senior reporter Michael McCarthy reports [[link removed]] employees with one year left on contract are the most vulnerable. Each year, over 98% of student-athletes will go pro in something other than sports. That’s over 100K future leaders who often get overlooked, till now. Learn more [[link removed]].*
SPONSORED BY ANHEUSER-BUSCH
Two Weeks Left to Nominate!
Rising 25 is back and it’s time to nominate an up-and-coming young professional changing the game in the business of sports!
The Front Office Sports Rising 25 Award [[link removed]], presented by Anheuser-Busch, celebrates the careers of the brightest young stars in the business of sports. To date, we’ve honored 150 individuals and we’re looking for our next group of young stars.
There are less than two weeks remaining! Nominations are open NOW through Tuesday, May 2. Winners will be announced in June.
Nominate [[link removed]] today!
Today's Action
MLB
03:05 PM
Angels (+135) at Yankees (-155)
Bet Now [[link removed]]
NBA
08:00 PM
Heat (+220) at Bucks (-260)
Bet Now [[link removed]]
MLB
05:35 PM
Reds (+125) at Pirates (-145)
Bet Now [[link removed]]
*All times are EST unless otherwise noted.
*Odds/lines subject to change. T&Cs apply. See [[link removed]] for details.
Question Of The Day
Have you ever bet on horse racing?
Yes [[link removed]] No [[link removed]] Not yet, but I would [[link removed]]
Wednesday’s Answer
In purchasing their next set of golf clubs, 22% of respondents said they prefer Titleist, 27% prefer Calloway, 14% prefer Ping, and 37% prefer TaylorMade.
DISCLAIMER
*Sponsored Content
Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Video [[link removed]] Podcast [[link removed]] Pro [[link removed]]
If this email was forwarded to you, you can subscribe here [[link removed]].
Update your preferences [link removed] / Unsubscribe [link removed]
Copyright © 2023 Front Office Sports. All rights reserved.
80 Pine Street Suite 3202 New York, NY 10005
Read in Browser [[link removed]]
POWERED BY
The 2023 NFL Draft in Kansas City will have the largest stage [[link removed]] and the biggest screens in league history — a structure the size of a football field. The event has already registered 100,000 people, and the league estimates 300,000 total visitors.
Leagues Formula 1 Open to Fourth U.S. Race [[link removed]]
Jerome Miron-USA TODAY Sports
Formula 1 already has an unprecedented three U.S. races — but that doesn’t mean it couldn’t add a fourth.
F1 CEO Stefano Domenecali hinted that he was open to exploring additional cities in the U.S. in an interview [[link removed]] with Sky Sports. The series is already racing in Austin, Miami, and Las Vegas this year.
“There is a lot of interest in far East Asia, more interest in the U.S.,” he said, adding that “we have three [in the U.S.], which I think is the right number for the next couple of years.”
Speculation has gravitated toward New York City.
“It would be amazing,” said Red Bull principal Christian Horner earlier this year. “A race here in the Big Apple, for example — what a spectacle that would be.”
F1 director of media rights Ian Holmes agreed, telling [[link removed]] Front Office Sports last year, “Who wouldn’t want to race in New York?”
But the F1 calendar may be reaching capacity with 23 races this year — after the Chinese Grand Prix was canceled — and there’s interest in bringing a race to South Africa.
Honda Turning to Aston Martin?
Reports surfaced [[link removed]] this week that Honda could pair up with Aston Martin heading into 2026.
The Japanese carmaker currently supplies engines to Red Bull and AlphaTauri, but those teams will work with Ford and Red Bull Powertrains heading into 2026, when engine regulations are overhauled.
An exclusive deal with Aston Martin could have domino effects on Mercedes, which currently supplies the British team’s engines. Mercedes principal Toto Wolff is also an investor in Aston Martin.
PODCAST
🎙️ They Said What?
“[While] watching cutups of plays, I envision myself making cuts and seeing things that I typically don’t see. I found so many times that visualization practice, it transferred over into the game. I would do things on the field that shocked myself.”
— Former Heisman Trophy winner and NFL star Ricky Williams on why he believes using cannabis while he was in the league improved his ability on the field. For more on our interview with Williams, check out the latest episode of Front Office Sports Today.
Listen and subscribe on Apple [[link removed]], Google [[link removed]], and Spotify [[link removed]].
Law Ex-Vikings Minority Owner Could Face $740M Fine For Crypto Scheme [[link removed]]
Mark J. Rebilas-USA TODAY Sports
Prosecutors in Manhattan’s federal court want former Minnesota Vikings minority owner Reginald Fowler to serve seven years in jail and forfeit more than $740 million for his role in a crypto scam.
Fowler is accused of establishing Global Trading Solutions LLC to support a money-laundering front for cryptocurrency companies working with Crypto Capital, which allowed cryptocurrency firms to swap their digital currencies for cash.
Crypto Capital operators Oz and Ravid Yosef are defendants in the case alongside Fowler but remain at large, according to Bloomberg [[link removed]].
The former Vikings owner (from 2005-2014) was also a recent investor in the failed Alliance of American Football. Fowler allegedly opened several accounts with U.S. banks by falsely claiming they were for real estate transactions when the funds were helping facilitate crypto transactions instead.
In April 2022, the 64-year-old Fowler pled [[link removed]] guilty to wire and bank fraud, as well as conspiracy to operate an unlicensed money-transmitting business. In last year’s plea agreement, Fowler admitted [[link removed]] to defrauding people associated with the AAF, which shut down after just eight weeks of play in 2019 following Fowler’s decision to withdraw his majority investment in the league.
The suggested $740 million fine and seven-year prison punishment follows Fowler’s rejection of a previous deal to forfeit up to $370 million.
Fowler is set to be sentenced Thursday by a federal judge in New York’s Southern District court.
SPONSORED BY CBS SPORTS GOLAZO NETWORK
All Soccer. All Day. Streaming Free.
CBS Sports Golazo Network [[link removed]], the first-of-its-kind, free, 24/7 channel dedicated exclusively to global soccer coverage is NOW STREAMING on the CBS Sports App, Pluto TV and Paramount+!
Get your morning started off on the right foot at 7 a.m. ET with Morning Footy [[link removed]], their weekday, soccer culture-driven morning show.
And stick around for their comprehensive programming lineup including FREE live matches from the NWSL, Italy’s Serie A, Scottish Premiership, Brasilierão, Argentina’s Liga Profesional de Fútbol and the UEFA Europa League. Plus, UEFA Champions League re-airs, original studio shows, highlights, documentaries and much more.
CBS Sports Golazo Network is the ultimate year-round streaming destination for fans of the beautiful game. Stream now [[link removed]].
Media Premier League Reportedly Making Moves to Grow Media Rights Value [[link removed]]
Premier League
Riding its popularity, the Premier League is offering more to broadcasters as new media negotiations loom.
The U.K. league is preparing to offer an additional 60 live games to broadcasters in its next domestic rights deal, according [[link removed]] to the Telegraph — which means that 260 of the league’s 380 games per season would be broadcast live, up from the current 200.
However, there are no indications that the league will get rid of its “3 p.m. Saturday blackout” rule which dictates that no games be broadcast live between 2:45 p.m. and 5:15 p.m. local time on Saturdays.
The potential move comes at the perfect time for the league, as the Prem’s media rights are as valuable as ever.
Sky Sports, BT Sport (rebranding to TNT Sport this summer), and Amazon Prime Video hold the league’s domestic rights for a collective $6 billion for the three-year cycle ending with the 2024-25 season. Sky holds the largest chunk, with rights to 128 matches.
The league’s international rights reached $6.3 billion for this cycle, topping the domestic haul for the first time.
Of the total sum from media rights, $2 billion is distributed to lower-tier leagues, while the bulk goes to the Premier League’s 20 clubs.
Negotiations for the following three years are expected to begin later this year.
Commerce SeatGeek Reportedly Files to Go Public After Failed SPAC Merger [[link removed]]
Soobum Im-USA TODAY Sports
Ticketing company SeatGeek filed confidentially with regulators earlier this month to go public, according to a new report from The Information [[link removed]].
Front Office Sports reached out to SeatGeek, but a communications representative for the company declined to comment on its reported IPO.
SeatGeek’s planned IPO follows its previous attempt to go public via a SPAC merger with RedBall Acquisition Corp. Still, both parties agreed to terminate [[link removed]] the deal last June due to market conditions. That merger would have valued SeatGeek at $1.35 billion and included investments from Kevin Durant’s Thirty Five Ventures and Utah Jazz owner Ryan Smith.
SeatGeek, which recently signed a reported $100 million deal [[link removed]] to become MLB’s official ticket reseller, is not the only ticket operator making reported moves to go public. StubHub filed paperwork with the SEC to pursue going public via a direct listing that would value the company at $13 billion, according to a Jan. 2022 report [[link removed]] from Bloomberg.
Secondary ticket marketplace Vivid Seats [[link removed]] went public in Oct. 2021 after a SPAC merger backed by Los Angeles Dodgers owner Todd Boehly and DraftKings. Vivid Seats’ stock price is currently down about 37% to $7.44 since going public.
Conversation Starters On Wednesday, the PGA Tour filed a motion [[link removed]] to dismiss an appeal filed by Saudi Arabia’s Public Investment Fund — LIV Golf’s major financial backer — in the latter’s antitrust lawsuit. The PIF is challenging a discovery decision favoring the PGA, while the Tour is arguing that the former has no legal standing. Former NBA player Dion Waiters has listed [[link removed]] his 14,000-square-foot Miami-area home for $18 million. The property boasts nine bedrooms, 11 bathrooms, a home theater, several swimming pools, an outdoor kitchen, and yard space for a basketball or tennis court. The Walt Disney Company reportedly wants to begin its layoff process at ESPN next week. FOS senior reporter Michael McCarthy reports [[link removed]] employees with one year left on contract are the most vulnerable. Each year, over 98% of student-athletes will go pro in something other than sports. That’s over 100K future leaders who often get overlooked, till now. Learn more [[link removed]].*
SPONSORED BY ANHEUSER-BUSCH
Two Weeks Left to Nominate!
Rising 25 is back and it’s time to nominate an up-and-coming young professional changing the game in the business of sports!
The Front Office Sports Rising 25 Award [[link removed]], presented by Anheuser-Busch, celebrates the careers of the brightest young stars in the business of sports. To date, we’ve honored 150 individuals and we’re looking for our next group of young stars.
There are less than two weeks remaining! Nominations are open NOW through Tuesday, May 2. Winners will be announced in June.
Nominate [[link removed]] today!
Today's Action
MLB
03:05 PM
Angels (+135) at Yankees (-155)
Bet Now [[link removed]]
NBA
08:00 PM
Heat (+220) at Bucks (-260)
Bet Now [[link removed]]
MLB
05:35 PM
Reds (+125) at Pirates (-145)
Bet Now [[link removed]]
*All times are EST unless otherwise noted.
*Odds/lines subject to change. T&Cs apply. See [[link removed]] for details.
Question Of The Day
Have you ever bet on horse racing?
Yes [[link removed]] No [[link removed]] Not yet, but I would [[link removed]]
Wednesday’s Answer
In purchasing their next set of golf clubs, 22% of respondents said they prefer Titleist, 27% prefer Calloway, 14% prefer Ping, and 37% prefer TaylorMade.
DISCLAIMER
*Sponsored Content
Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Video [[link removed]] Podcast [[link removed]] Pro [[link removed]]
If this email was forwarded to you, you can subscribe here [[link removed]].
Update your preferences [link removed] / Unsubscribe [link removed]
Copyright © 2023 Front Office Sports. All rights reserved.
80 Pine Street Suite 3202 New York, NY 10005
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