May 30, 2023

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U.S. veterans Jen Lee and Christy Gardner both suffered injuries that led to amputations — but that didn’t stop them from competing at the highest levels. On the latest Front Office Sports Today, the parasport gold medalists tell us how they overcame their injuries, what led them to parasports, and how they continue to serve out of uniform.

Listen and subscribe on Apple [[link removed]], Google [[link removed]], and Spotify [[link removed]].

Executive Who Built Warriors Into $7B Powerhouse Exits [[link removed]]

Darren Yamashita-USA TODAY Sports

A seminal figure in turning the Golden State Warriors into a sports colossus has stepped down as president and general manager after 12 years.

A prominent player agent before moving into team operations, Bob Myers was the architect for four NBA championship teams and a two-time NBA Executive of the Year.

With the foundation of sustained on-court success built by Myers, the Warriors became the NBA’s most valuable franchise and one of the world’s leading sports brands with an estimated team value [[link removed]] of $7 billion. The Warriors also led [[link removed]] the league in road attendance this season and routinely rank among NBA merchandise sales leaders.

Myers also signed Stephen Curry to two historic “supermax” contracts collectively worth more than $415 million and helped turn the Warriors guard into a global superstar, as well as played an influential role in the development of the $1.4 billion Chase Center, regarded as one of the world’s top arenas.

Upon Myers’ arrival in 2011, the Warriors had made the playoffs just twice in the prior 20 seasons, were worth [[link removed]] just an estimated $363 million, and were widely considered a laughingstock of the league.

Beyond winning, Myers and his Warriors business counterparts — former team president Rick Welts and successor Brandon Schneider — turned the team into industry thought leaders on numerous fronts such as arena operations, roster development, ticketing, and sponsorship sales.

If and when the 48-year-old Myers returns to team operations, he’ll be among the most highly coveted executives ever.

NFL-Backed NOBULL Cuts 35% Of Its Workforce [[link removed]]

Kirby Lee-USA TODAY Sports

Performance apparel brand NOBULL is the latest fitness company to trigger layoffs.

NOBULL confirmed [[link removed]] to Footwear News that cuts were made. The company’s founders cited “the challenging economic climate” and a desire to “safeguard the brand for the future.”

The total number of employees impacted was about 75, according [[link removed]] to The Barbell Spin, representing about 35% of the company’s workforce. The cuts came after NOBULL CMO Todd Meleney, the company’s first employee, resigned at the beginning of May.

In December, the Boston-based company received backing [[link removed]] from the NFL’s investment arm, 32 Equity, adding to funding that valued NOBULL at $500 million in 2021.

NOBULL became the presenting sponsor of the NFL Scouting Combine this year, replacing Rebook. The brand also sponsors the CrossFit Games and works with the PGA Tour and Patriots QB Mac Jones.

In the last 12 months, layoffs have impacted a number of sports and fitness companies, including Peloton [[link removed]], WHOOP [[link removed]], and Tonal [[link removed]], while Amazon shut down [[link removed]] its fitness wearable product line.

Several Nike employees reported [[link removed]] being laid off in March, but the company didn’t confirm or comment on any such moves.

It’s unclear what the layoffs mean for NOBULL’s immediate future in the direct-to-consumer retail space. The brand has been popular on Instagram and appeared to maintain an upward trajectory before these layoffs.

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Streaming's Influence on Team Valuations

Live sports programming has always dominated primetime ratings on linear television, but streaming content has become extremely popular [[link removed]] with younger generations of sports fans, particularly among millennials and Gen Z viewers.

The surge in demand for streaming TV and short-form content has disrupted the traditional TV media rights model and significantly boosted the valuation of sports franchises. With streaming television’s influence on ever-expanding media rights, franchises across all sports are being purchased as a premium due to their promising growth potential [[link removed]].

Leagues, franchises, and sports that can be innovative and agile enough to stay aligned with the shifting mediums of engagement will have the advantage for capturing the next generations of valuable fans.

Learn [[link removed]] how your company can gain this advantage for connecting with younger sports fans everywhere they’re consuming sports media on connected TV.

Vikings, Minnesota Pay Off Stadium Debt 23 Years Early [[link removed]]

Jeffrey Becker-USA TODAY Sports

The Minnesota Vikings will be able to pay off debt on their publicly owned home stadium 23 years early, thanks to a new tax bill signed by Gov. Tim Walz.

The legislation will retire $377 million in outstanding stadium bonds for Minneapolis’ U.S. Bank Stadium by the end of June — wiping out debt scheduled to be paid off in 2046 and saving Minnesota taxpayers $226 million in interest.

The stadium, which opened in 2016 and hosted the NFL’s Super Bowl LII in 2018, cost slightly more than $1.1 billion to build. The Vikings and other private sources paid about $620 million, with the state and city combining to supply around $500 million.

State officials were able to retire the stadium debt after tax revenue from legalized, electronic pull-tab games — a key funding source for the facility’s bonds — soared [[link removed].] beyond initial projections.

Lester Bailey, Vikings executive vice president of public affairs, called the decision “great news and the latest chapter in a success story that has benefited Vikings fans, the city of Minneapolis, and the state of Minnesota.”

Progress For The Bears

Meanwhile, the Vikings’ NFC North rivals are moving forward with their own stadium plans.

On Tuesday, the Chicago Bears started the demolition of Arlington International Racecourse, where the team intends [[link removed]] to build a domed stadium. The team sought [[link removed]] permission for the demolition earlier this month.

Newly installed [[link removed]] Bears president Kevin Warren has a link to both NFC North projects, having led the Vikings during the construction of U.S. Bank Stadium.

Conversation Starters More than 330,000 people attended [[link removed]] the Indy 500 this weekend — the second-largest crowd in the race’s history. Next weekend, Lexington will host an NCAA baseball tournament regional — but also [[link removed]] a music festival and high school tournaments in four sports. With no hotel rooms available within an hour of the city, opposing players and coaches are staying in the University of Kentucky’s dorms. The San Diego Padres are planning [[link removed]] a $20 million renovation to Gallagher Square, which is adjacent to Petco Park. The plans include an improved ball field, a new fan terrace and entry gate, an expansive playground, temporary pickleball courts, a fenced dog park, and art displays.

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Add scroll-stopping headlines about the influence of sports on business and culture by following Front Office Sports on Twitter [[link removed]], where we spotlight new stadiums and facilities, discuss record-breaking athlete deals, and share the inside scoop on how new regulations are impacting collegiate or professional sports.

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Editor's Picks Emergency Summit Called Following 12 Deaths At Churchill Downs [[link removed]]by Andrew Cohen [[link removed]]The emergency summit will inspect safety conditions at Churchill Downs. White Sox and Bulls Owner Acquires Controlling Stake of Stadium Network [[link removed]]by Eric Fisher [[link removed]]Reinsdorf gains majority share of multiplatform sports media network Attendance at LIV Golf’s DC Event Exceeds Expectations [[link removed]]by A.J. Perez [[link removed]]An estimated crowd of 14,000 turned out to the final round of LIV Golf's DC event. What to Watch

The Philadelphia Phillies meet the New York Mets on Monday night at Citi Field.

How to watch: 7:10 p.m. ET, TBS

Betting odds: Phillies +1.5 || ML Phillies +112 || O/U 8.5

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