November 7, 2023

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The Chicago Cubs-Milwaukee Brewers rivalry isn’t nearly as legendary as those between the New York Yankees and Boston Red Sox or the Los Angeles Dodgers and San Francisco Giants. But it’s low-key one of MLB’s best, driven in large part by the two cities’ close proximity, and just became even spicier. In a surprise move, the Cubs hired Brewers manager Craig Counsell in a five-year, $40 million deal that set a new standard for manager compensation and promises to make next year’s Cubs-Brewers games must-watches.

Brewers owner Mark Attanasio dispensed with the usual platitudes when discussing the deal: “We lost Craig. But I’ve reflected on this — Craig has lost us, and he’s lost our community also.”

— Eric Fisher [[link removed]]

Judge Tosses A’s Stadium Referendum, But Las Vegas Battle To Continue [[link removed]]

D. Ross Cameron-USA TODAY Sports

The Oakland A’s and MLB have won an early legal battle in the franchise’s planned relocation to Las Vegas, but an education advocacy group vowed to keep challenging the public funding earmarked for it.

Schools Over Stadiums, a political action committee linked to the Nevada State Education Association, has sought [[link removed]] to force a public vote in November 2024 on $380 million in previously approved public funding for a $1.5 billion stadium on the Las Vegas Strip. The initiative generated enough early notice that commissioner Rob Manfred conveyed [[link removed]] some public concern about it.

But in a ruling from the bench, Nevada district court judge James Russell called the referendum measure “legally deficient” as currently constructed. “It does not provide the full text of the measure …. when gathering the necessary signatures as mandated by the Nevada Constitution,” Russell said.

The legal challenge was brought by a pair of labor leaders supporting the stadium.

Still Fighting

Schools Over Stadiums now has two choices: appeal the decision to the Nevada Supreme Court or resubmit a new referendum petition.

A decision hasn’t been made, but there are still nine months before a July 2024 deadline to get on next November’s ballot. The group ultimately will need to collect at least 25,647 signatures from each of the state’s four congressional districts.

“We’re undeterred and still committed to giving Nevada voters the opportunity to decide whether their tax dollars are used to subsidize a billionaire’s stadium,” Schools Over Stadiums said.

MLB team owners remain set to vote on the A’s move at league meetings planned for Nov. 14-16 in Arlington, Texas, with the necessary 75% approval threshold expected to be cleared easily. If approved, the relocation will represent MLB’s second franchise shift since 1971.

FSG Confirms PGA Tour Talks After Report of Large Offer [[link removed]]

John David Mercer-USA TODAY Sports

With each day that passes, the PGA Tour gets closer to its self-imposed Dec. 31 deadline [[link removed]] to complete a deal with Saudi Arabia’s Public Investment Fund — which is looking to pump at least $1 billion into golf’s top circuit.

But as the negotiations drag on, one of the top reported competitors to the PIF has publicly acknowledged its desire to work with the PGA Tour. “We confirm that we’ve had conversations,” Fenway Sports Group chairman Tom Werner told [[link removed]] CNBC.

Werner wouldn’t provide any further details, but his words give more credence to a report that emerged over the weekend saying FSG was one of five [[link removed]] remaining bidding groups still talking with the PGA Tour. FSG is the second bidder to confirm its interest, along with Endeavor, which is no longer under consideration [[link removed]].

A key element of FSG’s proposal is that it’s in partnership with fellow billionaire sports owners, the New York Mets’ Steve Cohen and Atlanta Falcons’ Arthur Blank. FSG, Cohen, and Blank are also all three team owners [[link removed]] in the new TGL virtual golf league, which was co-founded by Tiger Woods and Rory McIlroy and has a partnership with the PGA Tour.

While reports have indicated that FSG and other interest investors could replace the PIF’s involvement, it’s also possible that any new group would simply be in addition to the PIF — something for which McIlroy sees the benefits. “When this is all said and done, I sincerely hope the PIF are involved and we can bring the game of golf back together,” he said.

Any deal not involving the PIF would likely guarantee further disruption from its LIV Golf league, while a deal in conjunction with the PIF would give the PGA Tour at least some say in LIV’s future.

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Tune in on Nov. 14 at 1 p.m. ET for our next virtual summit, the Future of Sports: Sponsorship [[link removed]], presented by SponsorUnited. Hear senior executives from major organizations, including Google, Angel City FC, Klutch Sports, Crypto.com and more discuss the pivotal role that sponsors play across the entire business of sports.

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Vivid Seats Buys Vegas.com For $240M Amid City’s Sports Boom [[link removed]]

Kirby Lee-USA TODAY Sports

Las Vegas has quickly become an epicenter [[link removed]] of sports, the latest evidence being Formula 1’s upcoming [[link removed]] grand prix.

Now, one of the leading ticket marketplaces is looking to enhance its presence there.

Vivid Seats — backed and led in part by Chelsea FC owner and Los Angeles Dodgers co-owner Todd Boehly — has purchased Vegas.com in a $240 million cash-and-stock deal. Vegas.com provides a range of information on entertainment and attractions in Las Vegas, as well as flight and hotel bookings.

The deal is projected to increase the company’s domestic addressable market by more than $6 billion.

“If you look at the inaugural Formula 1 race that’s happening there this month, the Super Bowl coming next year, new venues [[link removed]] standing up, artist residencies — we love the tailwinds there,” said Stan Chia, Vivid Seats CEO, in a call with analysts.

“We also think this is a wonderful, synergistic opportunity to use Las Vegas and that domain authority to acquire all of these visitors, introduce them to Vivid Seats, and have them go back to their home markets.”

Bullish Earnings

The Vegas.com deal was one of the highlights of a robust earnings report for Vivid Seats, as the Chicago-based company continues to enjoy the fruits of a broad consumer embrace of live events.

Vivid Seats reported a 20% boost in revenues for the third quarter to $188.1 million compared to the same period a year ago, as well as an 18% rise in adjusted earnings to $33.4 million. Marketplace gross-order volume increased 28% to a quarterly company record of $998.9 million.

Conversation Starters The USL and CBS Sports have reached a multiyear deal [[link removed]] to air 100 USL Championship and USL League One matches annually through 2027 — the first time the league will be presented on network television. The ranks of the highest-paid coaches in men’s sports just welcomed a new MLB leader. See how Craig Counsell stacks up [[link removed]] to other leagues’ top earners. Barstool Sports has unveiled [[link removed]] its new $20 million content factory in Chicago — and it has a ton of amenities.

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Editor's Picks Why the WNBA Pulled Out of Portland [[link removed]]by Owen Poindexter [[link removed]]The WNBA's explanation for why they pulled out of Portland raises questions. NBA In-Season Tournament Debut Averages 1.7M Viewers [[link removed]]by Doug Greenberg [[link removed]]It was a 35% increase from ESPN’s Friday NBA coverage in November 2022. Pivotal Moment for Three Cases Over NCAA Athlete Compensation [[link removed]]by Amanda Christovich [[link removed]]The NCAA is fighting to preserve amateurism in multiple arenas. Careers in Sports

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