September 22, 2023

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Coach Prime continues to deliver for Colorado: The school received a $2.5 million signing bonus when it agreed to join the Big 12, according to a new report on the conference’s realignment financial details. More on that report, and much more, below.

— David Rumsey [[link removed]]

Jaguars Threaten Move Without $1B From Jacksonville Taxpayers [[link removed]]

Corey Perrine/Florida Times-Union

The Jacksonville Jaguars have gone public with their demands for stadium funding — even proposing relocation if $1 billion in taxpayer money is not secured.

“Do you want to keep the NFL in Jacksonville?” That was the response [[link removed]?] from Jaguars president Mark Lamping at the AXS DRIVE conference when asked about a theoretical vote from Jacksonville residents on approving the team’s desired deal.

In June, the Jaguars released renderings [[link removed]] of their “Stadium of the Future” — a large-scale revamp of the publicly owned TIAA Bank Stadium that would include a stadium canopy to beat the Florida heat. The project could surpass $2 billion in total costs, and the team is seeking a 50-50 split with the city.

Lamping was adamant that the Jaguars need a better stadium to compete with the average NFL team. Jacksonville’s population ranks 11th among U.S. cites, but the city is 41st in media market size.

A move would be a drastic step for the Jaguars, who just opened [[link removed]] a $120 million practice facility next to their stadium. But Lamping’s comments still present concerns for the future. “If Jacksonville loses an NFL team, they’re never going to get another one,” he said.

In The Meantime …

Should the Jaguars move forward with stadium renovations, the team would likely need to find a temporary home for one or several seasons. One idea [[link removed]] had the team playing at the iconic Daytona International Speedway, about 90 miles from their current home. Another saw the University of Florida offer [[link removed]] up The Swamp for Jaguars home games.

Another, albeit extreme, option: The NFL could test out the London market even further and send the Jaguars across the pond for an entire season. This year, the Jaguars are playing two consecutive games in London, a first for any NFL team.

Warriors Stake Reportedly Up For Sale at $7B Valuation [[link removed]]

Kyle Terada-USA TODAY Sports

The Golden State Warriors may be adding new investors — and in the process confirming a staggering franchise valuation.

A group of minority owners are looking to sell their 10% stake in the team at a potential valuation of $7 billion, according [[link removed]] to Bloomberg. That would fall in line with Forbes’ most recent NBA valuations [[link removed]] — which pegged the Warriors as the most valuable team in the league.

That number would make a 10% stake in Golden State worth $700 million — a half-billion dollars more than the $450 million current owners Joe Lacob and Peter Guber paid for the franchise in 2010.

The record valuation shows the prestige of owning a portion of one of the NBA’s most successful franchises, which has won four NBA championships since 2015. In the most recent NBA team transaction — the Charlotte Hornets’ $3 billion sale [[link removed]] — $700 million would have been worth nearly a quarter of the franchise.

More Change For Warriors

While the specific investors looking to sell their stake in the Warriors are unknown, the move would be the latest in a season of change for the team.

In May, longtime Warriors president and general manager Bob Myers stepped down [[link removed]] after 12 years leading team operations. Last year, former minority owner Chamath Palihapitiya completed [[link removed]] the final selloff of his original 10% stake in the team, while Arctos Sports Partners increased its investment in the Warriors.

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From the rise of streaming and its effect on media deals and team valuations to the explosion of women’s sports and niche sports like pickleball and lacrosse, the sports industry as a whole continues to present new opportunities.

Join Front Office Sports on September 27 at 1 p.m. ET for The Future of Sports: Equity [[link removed]]. Sponsored by ISOS Capital Management, this virtual summit will feature speakers from ESPN, Warner Bros. Discovery, NWSL, Roku, and more of the most influential businesses in the space.

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Texas, Oklahoma’s Big 12 Exit Could Have Cost $60M More [[link removed]]

Austin American-Statesman-USA TODAY NETWORK

For Texas and Oklahoma, the price of leaving the Big 12 in 2024 and joining the SEC a year early could’ve been much higher.

In 2021, when the two schools announced their decisions to leave the Big 12 in 2025, reports [[link removed]] pointed to $160 million in forfeited TV revenue if the Longhorns and Sooners joined the SEC any earlier. However, earlier this year, when the Big 12 announced Texas and Oklahoma would depart in 2024, the cost was stated [[link removed]] as $100 million combined.

Now, new details of the buyout reported by USA Today [[link removed]] are showing the convoluted nature of the agreement — and frustration from remaining Big 12 members.

Texas and Oklahoma have continued to receive full revenue shares, despite conference bylaws calling for two years’ worth of money to be withheld in the event of an early exit. Kansas State athletic director Gene Taylor said that the Big 12’s lawyers told the conference its bylaws weren’t as “rock solid” as thought, and they “could be tied up on lawsuits forever.”

Iowa State athletic director Jamie Pollard confirmed that had the bylaws been fully enforced, it would’ve indeed cost that combined $160 million. “I think we’re at 65% of that,” he said.

Pac-12 Answers Coming Soon?

Elsewhere in conference realignment, Washington State and Oregon State leaders said [[link removed]] they expect to have answers on their schools’ futures within the next month.

The schools have filed a lawsuit [[link removed]] against the Pac-12 and commissioner George Kliavkoff asking for a court to affirm they have control of the conference with the other 10 members departing after this season.

WSU and OSU are also linked to a proposal [[link removed]] for a system of promotion and relegation involving 24 FBS teams from the Mountain West, AAC, and other conferences.

Conversation Starters Kyrie Irving has unveiled [[link removed]] his new logo with ANTA, the Chinese sportswear company he joined as Chief Creative Officer in July. Before Andrew Luck retired from the NFL, someone launched a parody account for him called Capt. Andrew Luck. Last night, Luck himself made a surprise [[link removed]] appearance at the “Thursday Night Football” postgame show in full uniform. Win a chance to meet “Around the Horn” host and sports media personality Tony Reali! We’re giving away 10 chances for a one-on-one with Tony. Enter here [[link removed]] by Oct. 4.

FRONT OFFICE SPORTS AWARDS

Are You One Of The Best Employers In Sports?

Whether it’s great leadership, focus on diversity, equity and inclusion or commitment to employee wellbeing, the Front Office Sports Best Employers in Sports Award [[link removed]]recognizes organizations who do right by their employees.

How do we determine who wins the award? We don’t — employees do! The award is based entirely on anonymous survey results from sports industry professionals.

Responses will be evaluated in collaboration with our primary research partner, Canvs [[link removed]], using patented AI technology free from all subjectivity and human bias. There is no word count limit and you can even use slang, text abbreviations, sarcasm or emojis to complete the survey.

The 2023 employee survey is now open through October 20. Take the survey [[link removed]] and tell us why your organization should make the cut.

Editor's Picks Adidas CEO Apologizes for Defending Ye’s Antisemitic Comments [[link removed]]by Doug Greenberg [[link removed]]Adidas cut ties with Ye in October 2022. A $94M High School Football Stadium Coming In Texas? [[link removed]]by Andrew Cohen [[link removed]]It would be the most expensive school stadium ever built in Texas. Old-School Fun with a Modern Twist, NERF Delivers Playgrounds [[link removed]]by Andrew Cohen [[link removed]]Hasbro is launching NERF-themed entertainment venues in Tennessee and New Jersey. ESPN Beats Rival Fox in Deion Sanders Bowl [[link removed]]by Michael McCarthy [[link removed]]ESPN’s “College GameDay” more than doubled the audience of Fox’s “Big Noon Kickoff” in Boulder. Three Chances to Win

Front Office Sports is partnering with Splash Sports to bring you Weeks 3-5 Pick X Contest [[link removed]]!

Attempt to select the winner for 16 games per slate, and get one point for each correct selection. Select the most correct answers and be one of three winners to be awarded a cash prize! Deadline to sign up is September 24, 2023.

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