Rupert Murdoch’s monumental decision to step down as chairman of his Fox Corp. and News Corp. caps off a historic, and often controversial seven-decade career — one that included the establishment of America’s fourth major broadcast network on the back of major sports rights.

But for the current and future operation of Fox Sports, little is expected to change. Murdoch’s son Lachlan will be the sole chairman of News Corp. and continue as Fox Corp. executive chair and CEO, effective in November. 

“The time is right for me to take on different roles, knowing that we have truly talented teams and a passionate, principled leader in Lachlan,” the elder Murdoch said in a memo to company staff.

The network is currently tied into long-term rights contracts with the NFL, MLB, several college conferences, NASCAR, FIFA, and several horse racing events, with the NFL pact stretching through 2033. 

Lachlan Murdoch has played an active, direct role in helping manage many of those relationships in recent years, including meeting with league commissioners and team owners, as well as speaking out on sports media trends. Fox Sports CEO Eric Shanks recently met with FIFA president Gianni Infantino at a Dallas Cowboys game and also remains crucially involved in company operations.

The 92-year-old Murdoch said he will be actively involved in network operations on a more informal basis as chairman emeritus.

“In my new role, I can guarantee you that I will be involved every day in the contest of ideas,” Murdoch said. “Our companies are communities, and I will be an active member of our community.”

Changing Sports TV Landscape

Three decades ago, it was Rupert Murdoch’s decision to overpay for the NFL’s NFC TV package in a four-year, $1.6 billion deal that put the then-struggling and often-overlooked network on the map, snatching the rights from incumbent CBS Sports.

The deal was not rational in pure market terms at the time, but the decision ultimately changed the network and entire sports TV landscape forever.

Two months after Tottenham Hotspur majority owner Joe Lewis was charged in the U.S. with insider trading — and subsequently released on a $300 million bond — the Premier League club is talking about adding new investors.

Club chairman Daniel Levy said that the team, recently valued at $2.8 billion by Forbes, is open to selling a minority stake to qualified interested parties. “We run this club as if it’s a public company. If anyone wants to make a serious proposition to the board of Tottenham, we would consider it,” Levy said to Bloomberg.

Earlier this year, before Lewis’ legal situation arose, Tottenham reportedly shot down takeover bids worth close to $4 billion. Levy confirmed that the club has previously received offers from investors in the Far East, Middle East, and the U.S.

Levy and some of his family members own about 30% of ENIC Sports Inc. — the company that controls nearly 90% of Tottenham. The Lewis Family Trust owns the majority of ENIC. For now, Tottenham’s chairman said he isn’t interested in leaving the club if new investors arrive.

Off The Pitch

Tottenham Hotspur Stadium has been one of the most interesting business stories in sports since it opened in 2019. The venue is the only one outside of the U.S. built for specific NFL use — and recently extended its deal to host multiple NFL games through 2030.

Originally, inking a lucrative naming rights deal was a main priority for Tottenham — reports last year suggested pacts could be worth nearly $700 million and linked Google to talks. But Levy said that’s no longer the case, and that selling the naming rights would now take “somebody who pays the right money in the right sector.”

As the controversy surrounding the Spanish women’s national team that won the 2023 Women’s World Cup continues, the runner-up England squad has resolved its own dispute with the country’s Football Association over compensation.

Prior to the World Cup, FIFA disclosed plans to make direct payments to players ranging from $30,000 to $270,000 depending on where teams finished. English players, however, were frustrated about the lack of additional payments from the FA, as well as limitations on individual players’ ability to earn money from sponsorships.

That frustration, which dates back to last year, led English players to issue a joint statement before the tournament that they were “disappointed that a resolution has still not been achieved.” 

Structural Changes

Now, a month after the event’s conclusion, an agreement on a new payment and commercial structure is reportedly at hand.

“We’ve had a really good conversation with the FA,” said Millie Bright, English team captain. “We have come to an agreement, but I think it’s bigger than just the bonus … The women’s game is evolving very quickly, and conversations like this need to happen to make sure in all areas we’re at the top of the game.”

Part of the goal was to create a structure similar to many other national soccer federations in which national team bonuses are paid beyond the committed FIFA money.

The English women’s progress follows in the wake of the Spanish football federation’s vow to make “immediate and profound” changes to its structure. The promise is a response to a boycott by its national team players after former federation president Luis Rubiales nonconsensually kissed player Jenni Hermoso during the celebration of Spain’s World Cup victory.