June 2, 2023
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The Stanley Cup Final is here. The Vegas Golden Knights and the Florida Panthers face off Saturday night — each playing for their franchise’s first title — and NHL Network host Jackie Redmond joins Front Office Sports Today to break down the series. Plus, we have the latest news from the Oakland A’s relocation saga, the NBA, and European soccer.
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SEC Sticks With 8-Game Conference Slate, Nixing Divisions In 2024 [[link removed]]
Online Athens
The SEC spring meetings have come and gone — and its schools have opted to hold off on expanding its conference football schedule for the time being.
When Texas and Oklahoma enter the SEC next fall, making it a 16-team conference, teams will continue to play eight conference opponents per season — despite a push [[link removed]] from some schools to expand that number to nine.
The Big Ten, Big 12, and Pac-12 play nine conference games, while the ACC plays eight.
The SEC confirmed that there will be no divisions from 2024 on, and the conference championship game will be played between the two teams with the best record.
No scheduling plans have been made beyond 2024, so a bigger conference schedule could still be in the SEC’s future. More money will be flowing into the conference next year when ESPN starts paying $710 million annually for SEC rights.
“Over time, we won’t be shying away from anything,” SEC commissioner Greg Sankey said [[link removed]]. “We just didn’t add another game during a period of transition. Certainly nobody wants to go through this every year.”
The only schools that voted in favor of a nine-game schedule were Florida, Georgia, LSU, Missouri, and Texas A&M, according [[link removed]] to the Action Network’s Brett McMurphy, while Oklahoma and Texas also support the idea but haven’t voted yet.
Keeping The Peace
The SEC also decided to increase fines for fans rushing the field or court after games.
A first offense will now cost a school $100,000, up from $50,000. A second will set it back $250,000 (previously $100,000), while a third and any subsequent offenses will cost $500,000 (previously $250,000).
Silver: Record Deal For Pistons Coach Reflects Market Realities [[link removed]]
Ron Chenoy-USA TODAY Sports
NBA commissioner Adam Silver has acknowledged that as far as coaching salaries are concerned, it’s open season.
Speaking before Game 1 of the NBA Finals [[link removed]] Thursday in Denver, Silver said Monty Williams’ six-year, $78.5 million contract with the Detroit Pistons reflected the league’s market reality: Coaches’ compensation isn’t collectively bargained and governed like it is for players.
Williams’ deal — signed this week after the 2022 Coach of the Year was fired by Phoenix last month — is the largest ever for an NBA coach and reportedly [[link removed]] could reach $100 million with options and incentives included.
The pact immediately amplified concerns that smaller-market clubs could lose out in future bidding wars for top coaching talent.
“We’re able to negotiate collectively with the players because they choose to negotiate as a union,” Silver said. “The coaches haven’t made that election … teams compete individually, and it’s where the marketplace takes us.”
Altitude Dispute ‘Terrible’
As he watches the Denver Nuggets play in their first [[link removed]] NBA Finals, Silver is also dealing with the ongoing dispute between Comcast and Altitude, the Stan Kroenke-owned regional sports network that airs games for his Nuggets and Colorado Avalanche.
Denver-area Comcast customers have been unable to watch the two teams’ games since 2019 — playing out in microcosm the implosion of the traditional RSN business model, as seen elsewhere in Major League Baseball’s battle [[link removed]] with Diamond Sports Group.
“It’s a terrible situation,” Silver said. “It makes no sense. It’s on us to fix it.”
The commissioner also said a ruling on suspended [[link removed]] Memphis Grizzlies guard Ja Morant will be announced after the NBA Finals as a league investigation “uncovered a fair amount of additional information.”
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Lululemon Sales Up 24%, Beats Expectations With Strong Quarter [[link removed]]
Lululemon
Lululemon hit $2 billion in revenue in its fiscal first quarter, helping the Vancouver-based athleisure brand beat [[link removed]] Wall Street expectations — and even its own lofty predictions.
Sales rose by 24% over the previous period, buoyed by a 79% spike in revenue in China. The brand will keep capitalizing on growth there, as the majority of the 30-35 new stores it plans to open [[link removed]] will be located there.
Full-year revenue is now expected to potentially reach $9.51 billion, an increase from previous predictions of as low as $9.31 billion. Lululemon stock is up over 10% since the earnings report.
There was no update on the state of Mirror, the at-home fitness equipment company Lululemon bought in 2020 for $500 million but is now considering [[link removed]] selling.
The positive news for Lululemon builds on a strong run for the brand. In 2022, the company’s net revenue rose [[link removed]] 30% to $8.1 billion, and the strong start to 2023 “shows the continued momentum in the business,” according to Lululemon CEO Calvin McDonald.
On the earnings call, McDonald highlighted the “top- and bottom-line results that exceeded our guidance.”
Lululemon’s success is impressive as competitors in the athletic apparel space continue to see mixed results. Nike posted a strong [[link removed]] report in its most recent earnings period, while Adidas saw a slight dip [[link removed]].
Conversation Starters For the first time in five years, Eric Lewis will not referee [[link removed]] the NBA Finals. The league is investigating whether Lewis used a burner account to defend himself and other officials. Saudi Arabia continues to attempt to persuade [[link removed]] global soccer stars to join Cristiano Ronaldo there, per the New York Times. The “huge fund” to sign 20 of “the world’s best-known soccer players” could top $1 billion. Boston Red Sox legend David Ortiz sold [[link removed]] his Miami-area mansion for $10.5 million. The 10,200-square-foot, five-bedroom property boasts two-story bedrooms, a 16-foot-wide shower, a home theater and bar, a “sports memorabilia lounge,” an outdoor kitchen, a pool, and three firepits. Check it out [[link removed]].
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Editor's Picks Judge Sides With MLB, Orders Diamond Sports to Pay Up [[link removed]]by A.J. Perez [[link removed]]Judge rules that four teams are entitled to full pay from DSG. Emily Kaplan Knows the Assignment [[link removed]]by Owen Poindexter [[link removed]]As a sideline reporter, Emily Kaplan keeps things open, lean, and neutral. Eddie Olczyk Talks Stanley Cup Final, ‘NHL on TNT’ [[link removed]]by Doug Greenberg [[link removed]]Olczyk is calling the 16th Stanley Cup Final of his career. Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Video [[link removed]] Podcast [[link removed]] Pro [[link removed]] Written by David Rumsey [[link removed]], Eric Fisher [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[link removed]]
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