Disney CEO Bob Iger must have known his move to explore potential equity partners for ESPN would yield interest from many of the biggest entities in sports, media, and entertainment — and now, that search could pay off big.

Following previously reported interest from the NFL, NBA, MLB, as well as telecommunications giant Verizon, Amazon is now the latest to discuss acquiring a minority stake in ESPN, according to The Information.

Amazon’s discussions, like those of Verizon, have been centered on aiding in the development of a full, direct-to-consumer version of ESPN, something Iger said recently is “not a matter of if, but when.”

Amazon’s entry as a potential partner is notable, as the company has made no secret of its desire to add more sports content to join flagship streaming properties such as the NFL’s “Thursday Night Football.” 

The company is also currently in the mix for a NASCAR rights package. And like with Verizon, Amazon is a business partner of ESPN, distributing its content through Prime Video and Amazon Fire TV. 

The latest talks, however, remain preliminary.

Last month, Iger said Disney is open to selling part of ESPN to a strategic partner, as the company is “dealing head-on with some of our biggest challenges,” including accelerating decline in linear reach.

More recently, ESPN has also seen subscriber growth for ESPN+ stall, at least temporarily. Iger also said the company is “not necessarily looking for a cash infusion” in the equity sale talks, but rather “partners that are going to help ESPN transition to a [direct-to-consumer] model. That can come in the form of content, or distribution and marketing support, or both.”

High Price Point

The network is also considering charging between $20 and $35 per month for the direct-to-consumer version. Such a price would easily stand among the highest in all of sports streaming, rivaling and perhaps surpassing the comparable $29.99 for direct-to-consumer versions of RSNs such as NESN and MSG.

ESPN is also the most expensive channel among basic cable networks.

The days of college football games played in cavernous concrete bowls with metal benches are increasingly numbered as schools continue to outdo each other with facility renovations and state-of-the-art amenities.

At least a dozen Power Five conference schools are currently in the midst of large-scale stadium upgrades, along with a growing number of smaller-conference universities and independents. 

And rather than attempting more modest renovations, many of the projects are extending well into nine figures — despite wildly different circumstances.

• A $700 million overhaul to Penn State’s Beaver Stadium, which will stretch over the next four years.
• $400 million in improvements to Florida’s Ben Hill Griffin Stadium (a.k.a., The Swamp), one of college football’s toughest places for visiting teams.
• A $337 million plan to modernize Tennessee’s Neyland Stadium, a budget increase from an initial $49 million.
• A $300 million upgrade to Kansas’ David Booth Kansas Memorial Stadium that will see the traditional basketball power seek to boost its football presence in a remade Big 12.
• $162 million in renovations for Oregon State’s Reser Stadium at the “worst possible time” amid a crumbling Pac-12 Conference.

The underlying factors driving the facility push are varied. Not only are pro football stadium enhancements quickly resetting fan expectations, but the 2024 expansion of the College Football Playoff will include on-campus games, while ongoing conference realignment is rapidly elevating facility standards, and recruiting competition is increasing further in the NIL era.

“It’s real,” said Terry Tumey, athletic director for Fresno State, which is planning a $250 million athletic facility renovation that includes work to Valley Children’s Stadium. 

“We are no longer in a hypothetical mode. We understand the external pressures that we have and the changing landscape of collegiate athletics.”

This weekend, the USC Trojans officially start winding down a century-long tenure in the Pac-12 before their move to the Big Ten — with all the pressure and uncertainty that entails.

“There’s an excitement in the air,” former USC quarterback and new NBC analyst Matt Cassel told Front Office Sports ahead of Saturday’s Week 0 matchup with San Jose State. 

USC and UCLA — which kicks off its season Sept. 2 against Coastal Carolina in Pasadena — will receive full revenue shares from the Big Ten’s $1 billion annual media rights deals (Oregon and Washington will accept reduced shares) while facing much stiffer competition.

And while the Trojans have never made the College Football Playoff — which will pay conferences $6 million for each team that makes it this year — Big Ten teams have appeared eight times compared to the Pac-12’s two.

The Trojans are thinking playoffs, Cassel said, and “anything less than that will feel like it was a little bit of a letdown.”

Long Road Ahead

Off the field, the road gets literally longer. New USC athletics director Jen Cohen, who previously held the position at Washington, will now navigate thousands of additional miles of cross-country travel for conference games — 15,000 miles roundtrip during USC’s inaugural Big Ten season.

Some around college football have raised concerns about the added travel’s impact on the well-being of athletes, particularly in non-revenue sports. But Cassel is bullish on more Rose Bowl-style matchups like USC-Ohio State on a consistent basis. 

“Now you’re going to get to see them in a regular season,” Cassel said, pointing to the Big Ten’s dissolvement of divisions, which will provide more varied gameday scenarios.

One of the Premier League’s most embattled clubs keeps taking hits — this time to its bank account.

Everton FC has lost a potential investment of up to $190 million from U.S.-based investment group MSP Sports Capital.

Led by Phoenix Suns vice-chair and minority owner Jahm Najafi and longtime sports executive Jeff Moorad, MSP had planned to receive up to 25% of the club in return for the investment. But an exclusivity period surrounding the proposed agreement ended, and the deal is now dead, reportedly in the face of opposition from existing club lenders.

Rights and Media Funding Limited — whose loan facility with Everton was extended to $253 million this year — is said to have demanded “high tens of millions” from MSP before any investment funds reached the club.

The club is now looking to reopen talks with Florida-based 777 Partners, which is steadily amassing one of the world’s leading soccer portfolios and had previously considered an investment.

Rocky Road

The demise of the MSP deal extends a long run of difficulty for Everton. 

The club barely avoided relegation last season and has started the new season in last place. A new stadium is under construction, but costs have risen more than 50% to $945 million. Without the enhanced revenue from the new facility, club losses have reached $500 million over the last five years. Everton is also under investigation for potentially violating Premier League spending rules.