August 1, 2023

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While you were sleeping, the USWNT narrowly advanced out of the group stage at the FIFA Women’s World Cup with a scoreless draw against Portugal — earning second place in Group E after the Netherlands defeated Vietnam 7-0 to secure first place. Now, the U.S. awaits their opponent in the Round of 16, likely Sweden early on Sunday morning.

Today, we’re exploring how European soccer has taken over the U.S. this summer, and what stricter Financial Fair Play rules mean for its top teams that could soon be playing competitive matches here in the States. Also, the sports betting space is consolidating, and more questions are raised for horse racing at Churchill Downs.

— David Rumsey [[link removed]]

Euro Soccer Finds Fertile Ground In U.S., With More Likely To Come [[link removed]]

Kevin Jairaj-USA TODAY Sports

Despite the historic growth of Major League Soccer — only accelerating [[link removed]] with the arrival of Lionel Messi — U.S. fans are proving yet again that there’s nothing quite like seeing the best players in the world.

A record crowd of 82,026 showed up [[link removed]] at the home of the Dallas Cowboys — AT&T Stadium in Arlington — on Saturday for an exhibition installment of Spain’s legendary El Clásico rivalry between La Liga’s FC Barcelona and Real Madrid. Far from a one-off, the match is part [[link removed]] of global investment firm Sixth Street’s Soccer Champions Tour to capitalize on American fans’ desire to fill NFL and college football stadiums to see top European players.

An exhibition doubleheader featuring Premier League teams Newcastle-Chelsea and Brentford-Brighton drew [[link removed]] a sold out crowd of 70,789 at Mercedes-Benz Stadium on Wednesday night in Atlanta.

Even with MLS expansion [[link removed]], new stadiums [[link removed]], record attendance [[link removed]], and growing franchise values [[link removed]], the league still isn’t a No. 1 global destination for top players in their primes — unlike most other major North American pro leagues.

That means major European clubs will continue to look to the U.S. for future exhibition and business opportunities, a situation exacerbated by increased American ownership [[link removed]] of said clubs.

The next phase: European regular-season matches played on American soil.

“Having official matches here, it’s not a matter of if, but when,” Boris Gartner, CEO of La Liga North America, told Front Office Sports.

La Liga in particular has sought [[link removed]] to bring league matches to the U.S. but has run into resistance from FIFA, Spanish regulators, and fans thus far, while legal entanglements remain. But momentum and attitudes are changing.

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Churchill Downs To Resume Racing Without Answers For Horse Deaths [[link removed]]

Jamie Rhodes-USA TODAY Sports

Churchill Downs racing is set to return in September, but there’s still no definitive answer for the cause of this spring’s spate of horse deaths — and one might never arrive.

On Monday, officials for Churchill Downs Inc. said that live racing at the famed Kentucky racetrack will resume Sept. 14, ending a suspension [[link removed]] of more than three months precipitated by one of the deadliest [[link removed]] Triple Crowns ever, in which 15 horses died.

The resumption of scheduled racing arrives with a series of new health protocols, including increased veterinary oversight, the creation of a new safety management committee, additional track surface testing, and continued collaboration with the Horseracing Integrity and Safety Authority.

But a clear diagnosis of what led to the deaths never emerged from the internal safety review. Churchill Downs said “analysis by multiple leading experts found no issues with the racing surfaces” — and more broadly, no significant issues with the facilities or differences from prior years.

“That [lack of solid answers], in a sense, can sometimes be unsatisfying,” said Bill Carstanjen, Churchill Downs Inc. CEO. “But that’s business, and that’s sports. We just have to commit to continually doing everything we can.”

While racing at Churchill Downs has been on pause this summer, ambitious plans for a new paddock construction project were unveiled [[link removed]], and the company reported [[link removed]] record net revenue.

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Financial Fair Play Sanctions Succeeding In Limiting Teams’ Creative Spending [[link removed]]

Juventus FC

The ability of international soccer teams to skirt rules around spending limits is slowly but surely growing more difficult.

Juventus has been given a one-year ban from European competition and a $22 million fine by UEFA, while Chelsea has been fined $11 million for separate violations [[link removed]] of FIFA’s Financial Fair Play rules. Due to a previous violation, the Italian club had already been deducted points in Serie A and was only due to compete in the third-tier Europa Conference League.

The punishments are signals that UEFA is serious about curbing “creative” accounting habits, longtime sports lawyer Irwin Kishner told Front Office Sports. “To the extent that creativity comes in,” Kishner explained, “I think it’s being somewhat limited now.”

It’s particularly timely given the similar situation surrounding defending Premier League and Champions League titleholders Manchester City, a club that has been accused [[link removed]] of breaking FFP rules — so far without sanctions.

If and when a ruling on Man City comes down, fans can expect the club to work together with UEFA for a fair outcome.

Kishner, co-chair of the sports law group at Herrick, Feinstein LLP, speculated that the Juventus and Chelsea punishments were agreed to by all parties after some back-and-forth. “I strongly suspect these were cooperative resolutions and ultimately wound up in the right place,” he said.

U.S. Sports Betting Consolidation Wave Claims Another Victim [[link removed]]

Fox Sports

The ongoing consolidation of U.S. sports betting has claimed another high-profile casualty.

FanDuel parent company Flutter Entertainment and Fox Sports parent Fox Corp. will shut down [[link removed]] Fox Bet over the next month, bringing an end to a four-year experiment that sought to link the power of the Fox brand and an expanded legal framework for U.S. sports betting.

Fox Bet obtained sports betting licenses in Colorado, Michigan, New Jersey, and Pennsylvania — each robust markets with multiple pro teams to help drive activity. But a fast-developing wave of industry consolidation has already led to the demise of once-prominent sportsbooks such as MaximBet, Fubo Sportsbook, Churchill Downs, and theScore.

Overall U.S. sports betting is roughly 70% controlled [[link removed]] by FanDuel and top rival DraftKings, leaving precious little market share for the multitude of other competitors.

Fox, which owns 2.5% of Flutter, will retain an option to acquire 18.6% of FanDuel, beginning at a $20 billion valuation as of last year and rising at 5% annually through 2030.

“When we look at the totality of our betting position, we increasingly think that the option that we have over FanDuel is the one that’s really important for us,” Steve Tomsic, Fox Corp. CFO, said earlier this year.

A major outlier to the betting consolidation wave is Fanatics, which recently completed [[link removed]] its acquisition of PointsBet’s U.S. operations and plans [[link removed]] a major rollout.

Conversation Starters The University of Missouri has officially unveiled [[link removed]] its new $33 million indoor football facility, which boasts a100-yard field, an upper-floor viewing lobby, and a VIP indoor tailgating space. Coming soon to Las Vegas: Atomic Golf’s four-story [[link removed]] flagship location. The $75 million, 100,000-square-foot space will feature over 100 hitting bays, six bars, meeting spaces, and a 12,000-square-foot Astrocade. Ole Miss football just opened the new Manning Center — with $45.7 million worth of renovations. Take a video tour [[link removed]].

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Editor's Picks ESPN Parts Ways With NBA Analyst Mark Jackson [[link removed]]by Andrew Cohen [[link removed]]Both of Mike Breen's longtime NBA broadcast partners are out at ESPN. Philadelphia Union Captain Calls for MLS Salary Cap Boost Amid Messi’s Arrival [[link removed]]by Andrew Cohen [[link removed]]Philadelphia Union captain Alejandro Bedoya wants MLS to loosen salary cap restrictions. Will The Pac-12’s Next TV Deal Be Enough To Save It? [[link removed]]by Amanda Christovich [[link removed]]There’s no guarantee replacement schools will bridge the gap. Question Of The Day

Do you plan on watching any of this year's U.S. Open Tennis Tournament?

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Monday’s Answer

74% of respondents have attended a webinar/virtual summit.

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