August 17, 2023
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Fanatics CEO Michael Rubin is a perfect example of betting on yourself, building a $31 billion merchandising colossus with breathtaking speed. Now he’ll need to do so again with sportsbooks open in four states in a bid to disrupt an established wagering market.
Meanwhile, MLB commissioner Rob Manfred has lofty expectations for the Kansas City Royals’ planned stadium development project, and the current pause in college conference realignment has revealed vastly different opinions on what should happen next.
— Eric Fisher [[link removed]]
Fanatics Sportsbook Rolls Out Unique Strategy In Four States [[link removed]]
Fanatics
Fanatics Sportsbook has made its full debut in four states — and now, it’s looking to challenge established sports betting leaders with a more targeted, cost-efficient strategy.
After six months of beta testing, the sports merchandising giant has formally started its online sportsbook operations in Maryland, Massachusetts, Ohio, and Tennessee.
The initial rollout will be joined by 12 additional states — including key betting locales such as New York, New Jersey, and Pennsylvania — after its $225 million purchase [[link removed]] of PointsBet’s U.S. operations closes [[link removed]] later this month.
Despite the company’s apparent omnipresence among sports fans and a $31 billion company valuation [[link removed]], Fanatics is still an upstart against an established FanDuel-DraftKings market duopoly [[link removed]] and will face further competition from the newly rebranded [[link removed]] ESPN Bet.
But instead of the heavy consumer ad blitzes common to many of Fanatics’ sportsbook competitors, company officials said they will lean on their existing database of more than 95 million customers and a promotional partnership with NBC Sports inherited with the PointsBet acquisition.
Earlier this year, Fanatics Betting & Gaming CEO Matt King said the company was “not necessarily in pursuit of market share,” instead touting a broader, Fanatics-powered consumer experience. The view, however, is diametrically opposed to PENN Entertainment’s stated intent of reaching a 20% online sports betting market share in its $2 billion ESPN deal.
Physical Presence
In addition to the online presence, physical sportsbooks at or near pro sports venues will be a key element of Fanatics’ strategy.
Earlier this year, the company opened [[link removed]] a location at the Washington Commanders’ FedEx Field, which will be followed on Friday by one at the Cleveland Guardians’ Progressive Field and one near the Columbus Blue Jackets’ Nationwide Arena later this month.
Manfred Pushes Bold $2B Stadium Project For K.C.’s Small Market [[link removed]]
Denny Medley-USA TODAY Sports
MLB commissioner Rob Manfred has big expectations for a venue in one of the league’s smallest markets.
Appearing in Kansas City to help support the Royals’ ongoing push to replace Kauffman Stadium, Manfred pointed to venues in Atlanta and Washington — two of MLB’s foremost facility success stories — as the type of broad, entertainment-district projects to emulate.
“It’s the power of baseball,” said Manfred, speaking at the MLB Urban Youth Academy in Kansas City along with Royals owner John Sherman. “Eighty-one [home] games changed what the community looks like, all for the better.”
The Royals are determining [[link removed]] which of two potential sites — one in downtown Kansas City and another in neighboring Clay County — will house a new $2 billion ballpark district, with the final choice due in September.
The selection will be crucial both for the city, which is MLB’s third-smallest market, and the team, which ranks [[link removed]] 25th in team payroll. “For a market of this size, those [development] opportunities are critical in today’s game in order to put the ballclub in position to be competitive over the long haul,” Manfred said.
Blueprints For Success
The Braves [[link removed]], now one of the league’s top-performing teams both on and off the field, set a new Truist Park record on Tuesday with their 43rd sellout of the season. In Washington, Nationals Park dramatically revitalized the Navy Yard area, where the stadium is located.
Sherman said the proposed stadium development “will be the most important decision that we would make while we have the privilege of stewarding this franchise.”
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The Influence of Technology on Niche Sports
In just a couple of years, pickleball has gone from being a relatively unknown pastime to a national obsession; ‘picklers’ are playing the game everywhere you go. But how did this once obscure activity become so popular – and in such a short time?
The evolution of digital media consumption has reshaped how audiences are watching sports, and technology plays a huge part in fueling the popularity of niche sports [[link removed]]. However, its influence extends far beyond pickleball.
The emergence of high-profile niche sports leagues like Big3 and 3ICE prompts questions about audience demographics and what their potential interests might be. Who is the niche sports fan, and what criteria [[link removed]] defines them?
Read more [[link removed]].
Stalemate in Conference Realignment Amid Opposing Visions [[link removed]]
Darren Yamashita-USA TODAY Sports
Conference realignment in college sports is at an impasse, as schools with the most at stake have very different visions for the future.
Oregon State appears intent on keeping the remaining four Pac-12 schools together. Rebuilding the conference is something the Beavers’ athletic director Scott Barnes says [[link removed]] he wants to start happening within “days.”
But key to that scenario is commitments from California and Stanford — both of which could have potentially already bolted for the ACC if not for opposition [[link removed]] from the conference’s top schools.
A Stanford move has even reportedly gotten backing from former U.S. Secretary of State Condoleezza Rice, a longtime university professor and key supporter. Rice has reached out to the ACC to vie for Stanford’s entry, according [[link removed]] to Yahoo Sports. And former President George W. Bush has done the same for Southern Methodist University, where his wife went to school.
Records and Reactions
The shifting college landscape is having impacts beyond conference makeup, too.
Colorado received a record [[link removed]] $28 million in athletics donations in its most recent fiscal year. The school is entering its first season with Deion Sanders as its head football coach and will return to the Big 12 next year.
Meanwhile, Wichita State athletic director Kevin Saal is keen on being proactive. The American Athletic Conference could take on former Pac-12 schools, if interested, or see its own schools — like SMU — targeted as realignment continues. “Nobody wants to be reactive in these situations,” Saal said [[link removed]].
Conversation Starters Next week, Texas’ Melissa High School will open a $35 million, state-of-the-art football stadium [[link removed]]. The venue, 50 miles north of Dallas, will boost capacity from 3,100 to 10,000 — for a school that had only 1,500 total students last year. College football head coaches have spent the week expressing their appreciation to school marching bands. Check out [[link removed]] some of their tributes. The University of Kansas released a dramatic new video hyping its new Gateway District and renovations to David Booth Kansas Memorial Stadium. Take a look [[link removed]]. Editor's Picks The Algorithm Solving The Conference Realignment Scheduling Conundrum [[link removed]]by Amanda Christovich [[link removed]]It will help sort out everything from class times to TV windows. How Amazon’s Michael Smith Is Experiencing ‘Life Beyond ESPN’ [[link removed]]by Andrew Cohen [[link removed]]Smith's Inflection Network debuts with a podcast hosted by Darren Waller. Comedian Druski Launches 4Lifers Sports Agency [[link removed]]by Andrew Cohen [[link removed]]Florida Gators edge rusher Princely Umanmielen is Druski’s first athlete client. 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]]
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