I’ve always enjoyed Colin Cowherd’s perspective on the sports industry, even if I don’t always agree with his takes. My colleague Michael McCarthy has a great look inside his upcoming contract negotiations with Fox Sports — including a potential shocking play by his former employer.
Today, we’re analyzing Tiger Woods’ decision to get more involved in the PGA Tour’s uncertain future, Under Armour’s back-to-basics business strategy, growing pains in the Las Vegas sports scene, and the wild conclusion to yesterday’s MLB trade deadline.
— David Rumsey
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Kyle Terada-USA TODAY Sports
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Tiger Woods still hasn’t spoken publicly since professional golf’s bombshell merger agreement was announced on June 6.
But the most popular golfer in the world is still pledging his full support to PGA Tour players as they adapt to the merger with LIV Golf and Saudi Arabia’s Public Investment Fund. Woods is joining the PGA Tour policy board for the first time, a move signifying an even stronger power shift in favor of Tour players after many lost trust in commissioner Jay Monahan.
Woods made a statement in the move’s official announcement, but other than a tweet to deny a faulty report about his previous role in the saga, he hasn’t voiced his opinion on the situation.
Forty-one players gave their support for the addition of Woods, who will help determine a board replacement for Randall Stephenson — the former AT&T CEO who resigned over the Saudi deal. Woods’ presence at future meetings can only boost morale and increase Tour players’ leverage.
During practice rounds at the Wyndham Championship in Greensboro, North Carolina, multiple players from two-time major champion Justin Thomas to veterans like Charley Hoffman voiced their excitement for Woods’ new role. “He wants to continue to see the PGA Tour grow and succeed,” Thomas said.
The Tour is set to release its 2024 schedule on Aug. 8 and has set a Dec. 31 deadline to finalize a definitive agreement with the PIF.
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MATTIE NERETIN / USA TODAY NETWORK
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One of the most prominent sports footwear and apparel companies is perhaps starting to get its groove back.
The recently embattled Under Armour has completed a $100 million licensing extension with Notre Dame believed to be the richest such deal in college sports.
The pact is also the latest move in an ongoing corporate retooling that has brought a new sense of stability to the company, which first rose to fame as a high-flying, upstart challenger to established market leaders such as Nike and Adidas.
In the last year, Under Armour has:
- Brought in former Marriott president Stephanie Linnartz as its new president and CEO
- Beat Wall Street estimates in its last quarter earnings
- Struck a long-term, $75 million deal with NBA superstar Stephen Curry
- Began a heightened effort to target women’s product sales
The developments have helped to reverse a highly turbulent period in which Under Armour posted declining earnings, faced a series of embarrassing revelations over a toxic work culture, ended an on-field licensing deal with the NFL, paid UCLA a $67.5 million settlement following a bitter contract breach dispute, cut short several other major licensing college deals in similarly ugly fashion, backed off a MLB on-field uniform deal to save $50 million, and saw company founder and former CEO Kevin Plank transition to an executive chairman role.
The recent efforts, however, have yet to resonate with investors. Under Armour stock is down by 14% over the last year and now hovers around $8 per share. At the company’s high point in 2015, its stock neared $53 a share.
The company reports its next quarterly earnings on Aug. 8.
The Notre Dame deal is the first major piece of new business for the school since its recently announced athletics leadership transition from Jack Swarbrick to former NBC Sports chairman Pete Bevacqua.
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Rich Storry-USA TODAY Sports
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Now that the MLB trade deadline has passed, the New York Mets have more 2023 payroll tied up in offloaded players as they do in their current active roster.
On Tuesday, the Mets sent star pitcher Justin Verlander — tied with former teammate Max Scherzer for MLB’s highest salary at $43.3 million — to Houston, three days after Scherzer approved a trade from New York to Texas.
With those deals and the trades of closer David Robertson and outfielders Mark Canha and Tommy Pham, the Mets now have $156.5 million in retained salaries involving players traded, released, or bought out, according to Spotrac. That surpasses the $149.4 million the Mets have committed in 2023 for active players.
The Mets — who still sit below .500 and are well out of playoff position — now have MLB’s 11th-highest active payroll, a dramatic turnaround from a $344 million Opening Day payroll that had surpassed all prior league records by more than $50 million.
Mets GM Billy Eppler previously tried to cast the sell-off as “not a fire sale” and “not a liquidation,” but the deals now leave the team in a historically unique position: Its departed players collectively earn more than the entire payrolls of 15 other MLB teams.
The Mets are reportedly retooling for on-field contention in 2025 or 2026 after a “transitory” year in 2024 — despite owner Steve Cohen’s stated intent upon his 2020 purchase of the team to win the World Series in “three-to-five years.”
The club still has nearly $175 million in salary commitments for next year at a time when past links between player spending and on-field success have been inverted.
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Kirby Lee, USA TODAY Sports
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There’s no hotter sports town than Las Vegas these days. Home to the defending WNBA and NHL champions, Sin City is set to add Formula 1 and MLB franchises — and could even lure the NBA to join the NFL in the desert.
But locals and visitors alike are now finding that sports expansion comes with plenty of growing pains.
Construction and road repaving on the famous Las Vegas Strip for the upcoming Las Vegas Grand Prix is snarling local traffic and creating frustration more than three months before the November race. The forthcoming MSG Sphere adds to the growing Las Vegas transportation issues.
The design for the Oakland A’s ballpark — now being redrawn after initial renderings were dismissed as garbage — includes an emerging plan to link the new facility into an recently approved expansion of the Vegas Loop, an underground transportation system projected to ultimately include 81 stations and 68 miles of tunnels.
That transit system is being built by the Boring Company led by Elon Musk, also the controversial owner of X, formerly known as Twitter. The Vegas Loop, however, consists of riders in human-driven Teslas instead of traditional mass transit trains or buses, and early reviews haven’t been good.
“We believe that anything can bring fans to the site without having to drive their cars, [and] making it more convenient for people is a real positive,” Brad Schrock, the A’s director of design, told the Las Vegas Review-Journal.
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- Rutgers has announced plans for a new multipurpose stadium at New Jersey’s Middlesex College. The future home of Rutgers Baseball will feature new locker rooms, batting and pitching tunnels, able to host soccer, lacrosse, and concerts.
- Before NIL and starting at Alabama, Bryce Young drove for DoorDash, working with a mask and hoodie — and trying to accept orders without being recognized. Now, he’s a CFP national champion, a Heisman winner, and the No. 1 NFL Draft pick.
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Do you consider yourself health conscious when it comes to food and/or drink selection?
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Tuesday’s Answer
58% of respondents plan to watch this year’s U.S. Open tennis tournament.
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