June 26, 2023

Read in Browser [[link removed]]

POWERED BY

Good afternoon. Eric Fisher [[link removed]] here. It’s already been a busy Monday with a pair of potentially transformative deals: a Hollywood actor-fronted investment in Formula 1’s Alpine team and Fenway Sports Group’s acquisition of a Boston-based team in the tech-infused TGL golf competition.

Also, Saudi money — already upending the sports world — could now find its way into tennis.

Alpine F1 Team Seeks Major Improvements After $220M Investment [[link removed]]

Jerome Miron-USA TODAY Sports

The Renault-owned Alpine Formula 1 team is eyeing substantial improvements both on and off the track following a $220 million equity investment [[link removed]] fronted by a trio of Hollywood actors.

Ryan Reynolds, Rob McElhenney, and Michael B. Jordan — working through Reynolds’ Maximum Effort Investments — will join Otro Capital and RedBird Capital Partners to acquire a 24% stake in the Alpine team at a valuation of about $900 million.

The jolt of new capital and star power is designed to transform the team’s business and competitive performance, taking advantage of F1’s commercial rise [[link removed]]. Alpine now ranks in fifth place among teams, continuing a middling trend that saw it finish in fourth last year and fifth in 2021.

“We are going to reinvest into the team to accelerate our program of catchup to be at the level of the very top teams,” said Laurent Rossi, Alpine CEO. Last month, Rossi said [[link removed]] the “trajectory is not good. We need to fix the mindset of the team ASAP.”

The new investors, with their extensive background in team operations in North America, Europe, and Asia, will aid core revenue-generating functions for Alpine, including sponsorship, merchandising, hospitality, and media.

“Alpine is for me something absolutely special,” said Luca de Meo, Renault Group CEO. “Two years ago, it was a dead end. Formula 1 was not considered an asset, but a cost. A mere line in the marketing budget. In only two years, everything changed.”

FSG Will Own Boston Team In Tiger Woods and Rory McIlroy’s TGL [[link removed]]

Jonathan Dyer-USA TODAY Sports

Fenway Sports Group has become the second team owner in TGL, the tech-infused golf competition backed by Tiger Woods and Rory McIlroy that will launch in January.

TGL is slowly rolling out its “original six” founding owners — Serena and Venus Williams and Reddit co-founder Alexis Ohanian were the first announced [[link removed]] in connection with Los Angeles Golf Club.

FSG’s team will represent Boston and the New England region. Team members and an official name will be announced soon. The move adds golf to a portfolio that already includes the Boston Red Sox, Pittsburgh Penguins, Liverpool, and NASCAR’s RFK Racing.

Financial terms for the team purchase were not disclosed, but FSG was an initial investor in TGL parent company TMRW Sports, as were Ohanian and Serena Williams.

Confirmed players for the first season of TGL — a partnership with the PGA Tour — include Woods, McIlroy, Jon Rahm, Justin Thomas, Collin Morikawa, Matt Fitzpatrick, Justin Rose, Adam Scott, Xander Schauffele, Max Homa, Billy Horschel, and Rickie Fowler.

While teams are tied to specific geographical locations, the league will operate on Monday nights out of a high-tech facility being constructed on the campus of Palm Beach State College.

TGL could look to place players on teams with affiliations to cities or regions. Homa, Fowler, and Schauffele hail from Southern California, many pro golfers call South Florida their home, and Schauffele and Morikawa live in Las Vegas.

SPONSORED BY WSC SPORTS

How TelevisaUnivision is Producing Content at Scale

“WSC allowed us to distribute clips and highlights in real-time, which let us serve our audience in a proper way” – Olek Loewenstein, President of Sports Content at TelevisaUnivision in a recent interview [[link removed]] with Front Office Sports.

WSC Sports [[link removed]] automates the instant creation and distribution of video highlights by giving you access to sport-specific machine learning technology for over 20+ sports.

In addition to TelevisaUnivision, over 300 partners, including ESPN, CBS, DAZN, Bleacher Report, WBD Sports, Globo, YouTube TV and more rely on WSC Sports to build the premier modern fan experience.

You can’t provide the best experience without automation. Your most creative people need time to craft stories for fans. Stay ahead of the curve and click here [[link removed]] to learn more.

Saudi Arabia’s PIF Could Invest In Another Major Pro Sport [[link removed]]

Susan Mullane-USA TODAY Sports

Men’s professional tennis appears to be the next sport of interest for Saudi Arabia’s Public Investment Fund.

The PIF has already invested in golf, Formula 1, soccer and the WWE.

ATP Tour chair Andrea Gaudenzi told [[link removed]] the Financial Times he’s had “positive” discussions with the PIF about potential investment.

New funding could spur innovations in media, data, and technology, per Gaudenzi, who pointed to the PIF’s deal with the PGA Tour — which like the ATP, operates alongside four major tournaments, creating fragmentation.

“You want to see the top players playing in the best events in the world,” Gaudenzi said.

No. 1-ranked Carlos Alcaraz said [[link removed]] on Sunday he has “no doubts” he will eventually play pro tennis in Saudi Arabia after winning the Queen’s Club Championship on the road to Wimbledon next week. Alcaraz acknowledged the country’s “power to have a lot of tournaments.”

In December 2022, American Taylor Fritz defeated Daniil Medvedev in the second edition of the Diriyah Tennis Cup, earning the $1 million first-place prize at the three-day event in Saudi Arabia.

Last June, the WTA confirmed Saudi Arabia had reached out to the tour with interest in investing. But in March, the women’s tour announced [[link removed]] a $150 million investment from CVC Capital partners.

Should the PIF work with the ATP, a high-profile tournament would likely end up in Saudi Arabia. The 2023 ATP calendar included February’s 500 series event in Dubai, United Arab Emirates, a neighboring country of Saudi Arabia.

Conversation Starters Apple has released the first trailer [[link removed]] for its Steph Curry documentary, “Underrated.” It will be available via Apple TV+ on July 21. Panther National, the luxury golf community backed by Justin Thomas and Jack Nicklaus, shared a new bird’s-eye view [[link removed]] of the grounds ahead of its completion this fall. The 400-acre property in Palm Beach Gardens, Florida, features an 18-hole course, 218 estates, private pools, outdoor kitchens — and homes worth between $3.5 million and $12 million. MLB used a drone between innings at this past weekend’s London Series. Take a look [[link removed]].

FRONT OFFICE SPORTS LEARNING

Elevate Your Professional Development

Front Office Sports Learning [[link removed]] is a series of complimentary, interactive courses designed to help professionals stay on top of today’s ever-changing sports landscape.

To date, over 20K+ professionals have taken our free online courses to better understand topics including NIL, cryptocurrency, ticketing, and more.

The flexible online courses which consist of video modules and brief quizzes, allow you to:

Learn anywhere, anytime Hear directly from top brands, experts, and industry leaders Earn a verified digital badge upon completion

Explore our lineup of courses to further grow and develop your knowledge, including courses from Coinbase [[link removed]], Ticketmaster [[link removed]], Meta [[link removed]], and more.

Register now [[link removed]].

Editor's Picks NBA Draft on ABC, ESPN Sets New Viewership Record [[link removed]]by Andrew Cohen [[link removed]]

ABC and ESPN's peak viewership window reached six million.

Brett Favre Asks Judge to Lift Gag Order in Mississippi Welfare Case [[link removed]]by A.J. Perez [[link removed]]

Favre asks judge to modify order in case brought by Mississippi DHS.

Albany Empire Coaches, Players Plan Lawsuit Against Antonio Brown [[link removed]]by Andrew Cohen [[link removed]]

Players and coaches noticed paychecks were pulled from their bank accounts.

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: [link removed] [[link removed]]

Or share on social media: [mailto:?subject=Check%20out%20the%20Front%20Office%20Sports%20daily%20newsletter!&body=This%20newsletter%20from%20Front%20Office%20Sports%20summarizes%20the%20four%20biggest%20stories%20in%20the%20sports%20business%20world%20every%20weekday...all%20in%20five%20minutes%20or%20less.+[link removed]] Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Video [[link removed]] Podcast [[link removed]] Sports Careers [[link removed]] Written by Eric Fisher [[link removed]], David Rumsey [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[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