November 10, 2023

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The NWSL is set for a compelling championship match tomorrow night, as the OL Reign battle Gotham FC in a fitting end to Parity Week. The women’s soccer league just secured $240 million in media deals, while in tennis, the Billie Jean King Cup Finals in Spain rolled out a record total purse of $9.6 million. Today, we dive into even more pay increases for women’s soccer in the U.K. and Australia.

— David Rumsey [[link removed]]

Major Pay Increases Hitting International Women’s Soccer [[link removed]]

Women's FA Cup/Twitter

As women’s sports continues its momentum in 2023, international soccer players are seeing significant boosts in prize money and salaries.

In the U.K., this season’s Women’s FA Cup purse total will double to $7.34 million. The club that wins the final match will earn $527,000, in addition to other prize money from throughout the tournament.

It’s yet another major increase in prize money for the competition — last season’s Women’s FA Cup purse jumped from $490,000 to $3.68 million. The FA says its goal is to eventually make prize funds for the Women’s FA Cup equal to the men’s, which will award more than $25 million in total this year.

Boost Down Under

A new collective bargaining agreement between Football Australia and its players will increase [[link removed].] individual salaries for women’s national members by as much as around $60,000 each.

Top women’s players made about $70,000 a year under the previous deal but could now be paid up to $128,000 — and that’s on top of any tournament prize money and salaries they receive from their club teams.

The moves follow this summer’s FIFA Women’s World Cup in Australia and New Zealand, which paid [[link removed]] out $110 million in prize money, a record for the women’s tournament.

FROM THE NEWSROOM

Exclusive Audio Details Alleged Kiffin Incident

Front Office Sports has obtained audio recorded by Ole Miss football player DeSanto Rollins which details an alleged argument he had with head coach Lane Kiffin. Rollins, a defensive lineman who remains on scholarship at the school, filed a lawsuit seeking $40 million in damages after Kiffin “ignored” indications that he suffered from depression and subjected Rollins to “grossly reckless and indifferent” treatment. Lawyers for Kiffin and Ole Miss are arguing for the lawsuit to be dismissed.

Read more [[link removed]] on this incident from Front Office Sports senior reporter A.J. Perez.

McMahon Selling $713M in TKO Stock, Ari Emanuel May Be a Buyer [[link removed]]

Joe Camporeale-USA TODAY Sports

WWE and UFC parent company TKO Group Holdings is set for a sizable shift in its ownership structure. WWE founder Vince McMahon is selling 8.4 million shares in the company, an interest currently worth more than $713 million.

The Endeavor-controlled TKO filed a prospectus with the U.S. Securities & Exchange Commission late Thursday detailing the bombshell offering. The shares amount to roughly 10% of the company and comprise nearly a third of McMahon’s interest in TKO.

Notice of the sale arrives three days after TKO indicated in a separate SEC filing that “Mr. McMahon’s membership on our board could have adverse financial and operational impacts on our business.”

Despite his status as TKO executive chairman, McMahon has been under investigation by the company for sexual misconduct [[link removed]] and was served with a federal grand jury subpoena this past summer, though no charges have been filed.

TKO — which is 51% controlled by Endeavor — indicated it intends to buy about $100 million worth of the shares. Endeavor and TKO CEO Ari Emanuel, president and COO Mark Shapiro, and other TKO directors said they intend to buy $1 million, $1 million, and $850,000 worth of the stock, respectively.

Historic Shift

The McMahon sale marks major changes for the company, as he developed WWE more than four decades ago from a minor pro wrestling circuit to a global entertainment colossus. TKO shares dipped more than 5% in after-hours trading Thursday following the news.

Earlier this week, TKO reported revenue growth [[link removed]] in its first quarterly earnings report since becoming [[link removed]] a standalone company, in turn fueling meaningful gains on Endeavor’s balance sheet as it considers [[link removed]] going private.

SPONSORED BY GAINBRIDGE

New Women’s Sports Activation Launching

Here’s a challenge: name another single week where 180 women athletes are competing for total prize money of nearly $13 million!

That’s right – welcome to Parity Week [[link removed]] by Gainbridge, a celebration of women’s sports and those that helped pave the way. Three events are happening this week connected to Parity Week:

The Billie Jean King Cup by Gainbridge – the World Cup of Women’s Tennis The ANNIKA driven by Gainbridge at Pelican – the penultimate event of the LPGA Tour season Women with Drive III, driven by Mobil 1 – a motorsports conference designed to advance opportunities for women in motorsports

Gainbridge® [[link removed]] is proud to honor legends Billie Jean King, Annika Sorenstam and Lyn St. James for helping fight to bridge the pay and opportunity gap for women’s sports.

Learn more [[link removed]] about Parity Week and follow @gainbridgesport [[link removed]] on social media.

FanDuel Parent Doubles Down on U.S. With Planned Stock Listing [[link removed]]

Albert Cesare / USA TODAY NETWORK

Even though it’s already the established market leader in U.S. online sports betting, FanDuel parent Flutter Entertainment is preparing to further expand its American footprint.

Headquartered in Ireland and currently listed on the Euronext Dublin exchange, Flutter has filed an application with the U.S. Securities & Exchange Commission to sell shares on the New York Stock Exchange, with a goal of kicking off trading in 2024’s first quarter. Once finalized, Flutter plans to delist from Euronext Dublin while keeping a separate listing on the London Stock Exchange.

The moves, which have been under consideration for more than a year, are aimed at occupying a greater position in the company’s top market.

“We are making good progress towards our U.S listing, which will bring the group significant benefits from accessing the world’s deepest and most liquid capital market,” said CEO Peter Jackson.

Betting Returns

The Flutter move arrives as the FanDuel-DraftKings sports betting duopoly begins to face greater competitive pressure [[link removed]] from well-resourced new entrants Fanatics and ESPN Bet.

Flutter just reported an 8% rise in overall quarterly revenue to $2.5 billion and a 16% increase in average monthly players to 11.1 million. Those results, however, were lower than analyst expectations, and Flutter’s London shares fell more than 10% in Thursday trading.

PODCAST

🎙️ They Said What?

“The Olympic Games shows us what a human body is capable of … We’re showing that in a different space. What is the human spirit capable of?”

— Brad Snyder, a paralympic gold-medalist swimmer and U.S. Navy veteran, on the Paralympic Games’ mission. To hear more from Snyder on his experience, check out the latest episode of FOS Today.

Listen and subscribe on Apple [[link removed]], Google [[link removed]], and Spotify [[link removed]].

Under Armour Is Latest Sportswear Giant To See Revenue Drop [[link removed]]

Under Armour

Athletic brands are struggling to find their footing in 2023 — and now one of the biggest American companies is adjusting its outlook after falling short of expectations.

Under Armour saw revenue decline [[link removed]] by 1% in its most recent fiscal quarter with a 2% drop in North America, its largest market. With the slowdown in sales, Under Armour is now telling investors that its annual revenue may dip between 2% and 4% — the company had been hoping to come out flat or slightly ahead year-over-year.

Amid the up-and-down year, Under Armour has remained active in sports.

Notre Dame reportedly reached a new $100 million licensing extension [[link removed]] with the brand in a deal believed to be the richest apparel collaboration in college athletics. Under Armour also signed Golden State Warriors superstar Stephen Curry to an extension that could end up becoming a lifetime deal [[link removed]].

Under Armour Isn’t Alone

Just this week, Adidas reported a revenue dip [[link removed]] of 6% as it continues to deal with the fallout from terminating its contract with rapper Ye, formerly known as Kanye West. The German brand said that sales in North America had fallen 10%.

Last month, Puma reported [[link removed]] a weaker-than-expected quarter, with operating profit down slightly to $252.3 million.

SPONSORED BY GAINBRIDGE

$13 Million: The Parity Week Payout

This year, Gainbridge® [[link removed]] is making a difference in women’s sports with Parity Week [[link removed]] by elevating exposure of three major events to fans and prize money for the athletes.

The ANNIKA driven by Gainbridge at Pelican is the highest purse on the LPGA Tour outside of the majors and the season-ending event. Meanwhile, the Billie Jean King Cup by Gainbridge Finals holds a purse that is equivalent to the men’s World Cup of Tennis, the Davis Cup. Finally, Gainbridge® is sponsoring a livestream of the motorsports conference to help it reach a broader audience.

Gainbridge® is proud to work with our sister company Parity, a brand sponsorship platform committed to closing the gender income and opportunity gap in professional sports.

Over 25 Parity athletes will be attending events during Parity Week. Learn more [[link removed]].

Conversation Starters Annika Sörenstam is one of the winningest golfers ever. The ANNIKA tournament, driven by Gainbridge, features a $3.25 million purse [[link removed]] — one of the largest on the LPGA Tour.* One of the most unique basketball arenas in college sports is in Moscow, Idaho. Take a tour [[link removed]]. Since last year’s National Championship, Caitlin Clark joined [[link removed]] State Farm’s athlete roster, helped set a women’s basketball attendance record, dropped a record 41 points in a game, and was honored at the Iowa State Fair. Editor's Picks Nick Saban’s Car Dealership Group Moves Into Florida For $700M [[link removed]]by Doug Greenberg [[link removed]]Saban’s group now owns nine dealerships across the South. Major U.S. Sports Leagues Pull In Record $6.7B in Ad Revenue [[link removed]]by Doug Greenberg [[link removed]]Major U.S. sports leagues and teams saw big increases in ad revenues. NASCAR Rolls Across 2023 Finish Line With Viewership Decline [[link removed]]by Doug Greenberg [[link removed]]NASCAR remains firmly ahead of surging Formula 1 in American broadcasts. Question Of The Day

Do you contribute to a 401k / other future savings accounts?

Yes [[link removed]] No [[link removed]] Not yet but I want to [[link removed]] N/A [[link removed]]

Thursday’s Answer

26% of respondents are in-market to purchase or sell a home in the next 12 months.

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