Adidas shareholders file a lawsuit over the Ye fallout. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌
Read in Browser

Front Office Sports

POWERED BY

With quarterbacks as the star attraction, the 2023 NFL Draft increased its TV viewership by 12%. The three-day event averaged 6 million viewers across ESPN, ESPN2, ESPN Deportes, ABC, and NFL Network — up 12% from 5.3 million in 2022.

Snoop Dogg Joins Effort to Purchase Senators

Gary A. Vasquez-USA TODAY Sports

Snoop Dogg is hopping on a collab for the Ottawa Senators. 

The 51-year-old rapper took to Instagram Monday to declare he’s part of a bidding group led by Los Angeles-based businessman Neko Sparks, who seeks to become the first Black controlling owner in NHL history. 

“I’m looking forward to being a part of that ownership team,” Snoop wrote. “I wanna bring hockey to our community.”

Sparks’ group is the most racially diverse among the half-dozen contenders for the Senators. Beyond Sparks and Snoop Dogg, the group counts Adidas executive Daniel Cherry. 

A source told Front Office Sports that other celebrity names could be made public ahead of a May 15 bid deadline. 

A group including actor and Wrexham FC co-owner Ryan Reynolds is preparing to make a $1 billion for the Sens, while Sacramento Kings owner Vivek Ranadivé is part of another. 

Snoop has been around the sport. He called part of a Penguins-Kings game in 2019, where he said he drank out of the Stanley Cup after one of Los Angeles’ title runs. Paying homage to Canadian hockey commentator Don Cherry, Snoop called himself “Dogg Cherry” and also filmed a series for the NHL ahead of the 2018 Stanley Cup Playoffs. 

But Sparks’ group doesn’t just have starpower — it also has the financial resources to be a serious contender as the deadline approaches. 

The Melnyk family put the franchise on the market in November, months after the death of Eugene Melnyk, who bought the Senators for $92 million in 2003.

AWARDS

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, 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.

Nominations are open NOW through May 2. Winners will be announced in June.

Nominate today!

Adidas Investors File Lawsuit, Claim Company Knew of Ye’s Issues

Shutterstock

Adidas’ partnership with Ye has become a massive liability — and a group of investors are saying they should’ve known better.

Investors filed a class-action lawsuit against Adidas alleging the company had prior knowledge of the issues with Ye, formerly known as Kanye West, that led to the dissolution of their partnership last October. 

The suit claims Adidas executives “intended to deceive” investors about the risk of partnering with Ye and failed to limit their financial exposure to the partnership. Adidas ended its relationship with Ye after the rapper publicly made a series of antisemitic remarks and said on a podcast, “I can say antisemitic things, and Adidas can’t drop me.”

Cutting ties with Ye cost Adidas $633 million in fourth-quarter sales, per the company’s Q4 earnings report. It could also lead to a $1.27 billion hit in 2023 from failure to sell existing stock.

The lawsuit points to a Wall Street Journal report from November stating that company executives raised concerns about Ye four years prior to cutting ties. 

Adidas CFO Harm Ohlmeyer and former CEO Kasper Rørsted are named as defendants, and the suit covers anyone who bought Adidas stock from May 3, 2018 — when Ye made troubling remarks about slavery — to 2023.

The company denied allegations made in the suit, telling CNN, “We outright reject these unfounded claims and will take all necessary measures to vigorously defend ourselves against them.”

Next Likely Future Stop for NFL Draft’s Roadshow: Green Bay

Kirby Lee-USA TODAY Sports

The Green Bay Packers have lost quarterback Aaron Rodgers to the New York Jets, but their city appears set for a consolation prize: the 2025 NFL Draft. 

At the annual league meeting in March, NFL executive Peter O’Reilly told reporters the host is expected to be announced at the next owners meeting, which begins in Minnesota on May 22. 

The Packers have long been the favorite to land the 2025 event. Packers team president Mark Murphy said last July that Green Bay “likely” would host either the 2025 or 2027 NFL Draft. 

The Packers have submitted a bid in partnership with Discover Green Bay at an expected cost of up to $7 million. A team spokesperson said the Packers are contributing $1 million for the effort.

With a population of only 108,000, the Wisconsin city is the smallest NFL market — but the league could also accommodate press and spectators in Milwaukee, a two-hour drive away.

In March, the Green Bay/Brown County Professional Football Stadium District approved a measure clearing the way for 50% of the ticket taxes for non-Packers events at Lambeau Field through 2027 to go toward hosting the draft. 

Prime Time Pays Off

The league’s premier offseason event has become a traveling circus, providing economic benefits for city after city. 

Held in New York City from 1964-2014, the annual event has stopped in Chicago, Philadelphia, Dallas, Nashville, Cleveland, Las Vegas, and Kansas City. The 2024 Draft is scheduled for Detroit. 

The draft turned into a three-day extravaganza in 2010, with the first round beginning at 8 p.m. ET on Thursday night and the second and third rounds at 7 p.m. ET on Friday night. The final four rounds take place on Saturday.

The TV audience for this year’s first round was the third-highest ever, averaging 11.4 million viewers across TV and digital — up 11% from last year.

Conversation Starters

  • The defending WNBA champion Las Vegas Aces have unveiled their new practice facility and team headquarters — the first custom-built facility in the league’s 27-year history. The 64,000-square-foot complex is packed with high-end amenities.
  • Last month, JJ and Kealia Watt were spotted at a Burnley match, after which they toured the English team’s facilities. Now, the Watts are officially investing in the 140-year-old club.
  • After an All-American season at the University of Houston, Marcus Sasser is set for the NBA Draft. On the latest Front Office Sports Today, Sasser joins us to discuss his preparation for the draft, his college career, and his future. Plus, Action Network’s Darren Rovell breaks down his key takeaways from the 2023 NFL Draft.  Listen and subscribe on Apple, Google, and Spotify.

What to Watch

The New York Rangers will take on the New Jersey Devils in Game 7 in the round of the Stanley Cup Playoffs on Monday night at Prudential Center.

How to watch: 8 p.m. ET, ESPN

Gambling odds:  Rangers +1.5,  || ML Rangers -104 || O/U 5.5

Refer Friends, Win Merch

Ready to rep your favorite newsletter? Refer your friends and colleagues to Front Office Sports and you could win FOS merchandise.

It’s easy to spread the word. Copy and paste your unique link below and share it in an email or on your timeline.

Referral Count: 0

Copy your invite link: https://frontofficesports.com/newsletters/?rh_ref=0d56433a

Or share on social media: