November 14, 2023

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ESPN Bet finally debuts today. I use the flagship ESPN app almost daily for scoring and news updates, so I’m curious to see how any betting integrations change that experience for myself and others.

Meanwhile, I’m excited to see how Netflix performs in its debut live sports broadcast tonight. My gut says this is only the beginning for the streamer.

— David Rumsey [[link removed]]

ESPN Bet’s ‘Blueprint’ For Success Has An Unexpected Origin Story [[link removed]]

ESPN

PENN Entertainment and ESPN are looking for meaningful share for ESPN Bet in the hyper-competitive U.S. sports betting market, one dominated [[link removed]] by the FanDuel-DraftKings duopoly [[link removed]].

They could do worse than look north, where PENN Entertainment’s Canadian operation is actually making inroads.

As ESPN Bet makes its highly anticipated debut [[link removed]] on Tuesday, PENN Entertainment executives said they’re looking to replicate the strategy they’ve deployed with Score Media in Ontario.

Using content from sports media outlet theScore — which the company acquired [[link removed]] in 2021 in a $2 billion deal — PENN Entertainment set company records for both gross and net gaming revenue with theScore sports betting operations in October, according to its latest earnings report [[link removed]]. The company reportedly holds [[link removed]] a No. 2 market share position in Ontario.

Crucially, 73% of theScore’s total betting handle originates from theScore’s media app, something PENN Entertainment calls a “blueprint” for ESPN Bet.

“We don’t see any of the competitors in Ontario, or in the U.S., that have really focused [[link removed]] on this deep integration between sports media and sports betting,” said Jay Snowden, PENN Entertainment CEO. “I think we’ve got it to a point in Ontario where it’s pretty frictionless. You don’t know when you’re in theScore media app and you’re populating a bet slip … and we envision getting there very quickly here in the U.S. with ESPN.”

Different Dynamics, Same Strategy

The dynamic between theScore and ESPN remains somewhat different for PENN Entertainment, as it owns the former company and is only licensing the brand of the latter in their large-scale partnership [[link removed]] worth more than $2 billion.

But Snowden said the operational philosophy remains very much the same, as it carries a goal [[link removed]] of as much as 20% U.S. market share for ESPN Bet — a figure 10 times the penetration it achieved in its prior partnership with Barstool Sports.

“What’s really different for us is this deep integration behind the No. 1 sports media brand in the world and those sports who like to bet and want to bet, and the trust factor to do this seamlessly is something we take very seriously,” Snowden said.

PODCAST

🎙️ They Said What?

“The NBA is always trying something new. They may not get a home run every time, but they aren’t afraid to throw something at the wall and see if it sticks.”

— Michelle Beadle, NBA reporter and co-host of “Run It Back,” on the NBA’s willingness to experiment. To hear more from Beadle about what’s new in the league, check out the latest episode of FOS Today.

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

Netflix’s Live Sports Debut Is Here. Will It Deliver? [[link removed]]

Netflix

Netflix finally enters the live sports arena on Tuesday — a pivotal moment for the streaming giant, previously one of the more famous holdouts in the space.

PGA Tour players Rickie Fowler, Justin Thomas, Max Homa, and Collin Morikawa will be paired with Formula 1 drivers Lando Norris, Carlos Sainz, Alex Albon, and Pierre Gasly to compete for the Netflix Cup, which begins at 6 p.m. ET live from Las Vegas’ Wynn Golf Club.

Netflix’s app says the event, which will comprise eight holes of match play, will run two-and-a-half hours. The most pressing challenge for Netflix in its live sports debut is making sure the stream goes off without a hitch — something it failed [[link removed]] to do earlier this year when it attempted to broadcast a live reunion for one of its dating shows.

Beyond basic functionality, the quality of Netflix’s stream will be of interest as well as the production of the golf event itself.

If the event is a success, Netflix looks ready to dive in even deeper with live sports — the company is reportedly interested [[link removed]] in streaming a boxing match involving Jake Paul.

Viewership numbers for the Netflix Cup likely won’t be released, but a similar celebrity golf special earlier this year, “The Match,” drew [[link removed]] an average of 782,000 viewers across TNT and two other channels. In that event, Kansas City Chiefs stars Patrick Mahomes and Travis Kelce took on Golden State Warriors’ Splash Brothers, Stephen Curry and Klay Thompson.

Netflix is reportedly charging [[link removed]] potential advertisers $2 million for Tuesday night’s event.

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Man United Stakeholder Sells Shares, Ratcliffe Makes Stadium Decision [[link removed]]

Manchester United FC

There’s another plot twist in the Manchester United sales saga.

As British billionaire Jim Ratcliffe looks to acquire [[link removed]] 25% of the club and take control of soccer operations from the Glazer family, a filing with the U.S. Securities & Exchange Commission on Monday shows that Chicago-based Ariel Investments continues to shed its stake in the iconic Premier League Club.

The filing shows that Ariel reduced its position by 831,000 shares, or 13%, during the third quarter of this year. Ariel now holds nearly 5.7 million shares and is the club’s second-largest institutional shareholder behind British investment management company Lindsell Train.

Ariel has been invested in Manchester United for more than two years, and its holding reached 12.3 million shares in March 2022. Soon after, though, it began to reduce its stake, accelerating that strategy last year when the Glazers said they would consider strategic alternatives for the club — including a potential sale or new investment.

The club recently reported [[link removed]] a Premier League-record $783 million in annual revenue.

No New Stadium

Ratcliffe has ruled out [[link removed]] seeking a new stadium for the club — a trend seen in several new facility efforts throughout the Premier League — and will instead look to upgrade 113-year-old Old Trafford.

Ratcliffe intends [[link removed]] to spend $300 million of his own money on immediate stadium improvements. He has also said he will not pursue naming rights for the revered facility, saying “that would be heresy. I would not change it. It’s always Old Trafford.”

Lyon Secures $342M, Advances Reorg For Potential OL Reign Sale [[link removed]]

OL

Ligue 1’s Lyon has secured major funding, a key part of a club reorganization led by American businessman John Textor’s Eagle Football Holdings.

After seeking [[link removed]] $315 million from the bond market in September, Textor, Lyon, and club parent OL Group have completed [[link removed]] a $342 million refinancing that will help get the team’s troubled debt situation in order.

Set to close by the end of the year, the deal will allow the club to repay the balance of long-term stadium debt, as well as loans taken on during the pandemic and money owed to private parties including the family office of former Lyon majority owner Jean-Michel Aulas.

Led by Goldman Sachs, the refinancing arrives as Textor is also selling off non-core club assets, including LDLC arena, a new 16,000-seat, multipurpose venue due to be completed later this year that is separate from Lyon’s home stadium, Parc Olympique Lyonnais.

Lyon is also selling NWSL’s OL Reign, which lost in Saturday’s NWSL Championship match [[link removed]]. Major League Soccer’s Seattle Sounders have reportedly [[link removed]] had “advanced talks” to acquire the club.

“The affirmation of leading credit rating agencies and the quality of our new investors are a testament to the strength of the OL brand, the improving health of our business, and the strength of our go-forward business plan,” said Textor, who acquired [[link removed]] Lyon last year in a $842 million deal.

There are still competitive issues for Lyon, as the club is currently in last place in Ligue 1 and facing potential relegation.

Conversation Starters A’s fans are sending [[link removed]] “Stay In Oakland” boxes to MLB team owners in an effort to convince them to vote against the team’s relocation to Las Vegas. Michigan football head coach Jim Harbaugh says he hopes [[link removed]] football fans “got to see Saturday what he sees every day” with the Wolverines, whom he referred to as “America’s team.” He’s expected to attend a hearing on Friday to fight his suspension. SailGP boasted the most-watched sailing race [[link removed]] since 1992, averaging 1.78 million viewers on CBS – more than F1’s average of 1.11 million viewers across the ESPN family of Networks.* Raiders interim coach Antonio Pierce says practice squad players have earned [[link removed]] the right to be on the sideline. Invesco QQQ ETF gives you access to the growth potential of some of the world’s greatest innovators, all in one investment. Learn more [[link removed]] about how you can become an Agent of Innovation with Invesco QQQ.* Editor's Picks PENN Entertainment’s High-Stakes Gamble with ESPN Bet Kicks Off on Tuesday [[link removed]]by A.J. Perez [[link removed]]After his Barstool failure, PENN CEO Jay Snowden has plenty riding on a deal with ESPN. Financial Woes Could Force Arizona To Cut Sports Programs [[link removed]]by Eric Fisher [[link removed]]Financially struggling university to consider dropping some varsity teams Streaming Might Be The Future, But Over-The-Air Sports Aren’t Going Away [[link removed]]by David Rumsey [[link removed]]Sports broadcasts are experiencing a major shift in how fans consume them. NWSL’s Record Deal Caps Banner Season, Marks Turning Point For League [[link removed]]by Eric Fisher [[link removed]]The 2023 campaign saw gains in attendance, TV, and franchise expansion. Question Of The Day

Do you try to make purchases from sustainable / purpose driven brands if possible?

Yes [[link removed]] No [[link removed]]

Monday’s Answer

32% of respondents listen to podcasts daily, 22% listen weekly, 12% listen monthly, and 34% don’t listen to podcasts.

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