December 15, 2023

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I’m ready for tomorrow’s full slate of college bowl games and NFL contests, but first, the week is ending with some big headlines around the business of sports: The PGA Tour gets closer to a new investment … the Rays push back on a name change … and women’s college volleyball is set for a championship final and more records.

— David Rumsey [[link removed]]

PGA Tour Nears Investment, Ensuring Stability As Deadline Looms [[link removed]]

Adam Hagy-USA TODAY Sports

The PGA Tour’s uncertain financial future is gaining some clarity — to the tune of potentially $3 billion — just over two weeks before a crucial deadline approaches.

Under the terms of a framework agreement (announced on June 6) with Saudi Arabia’s Public Investment Fund, a new, for-profit company called PGA Tour Enterprises would oversee the commercial business operations of the PGA Tour, DP World Tour, and LIV Golf. After backlash from players and even the U.S. government, the PGA Tour ultimately ended up in negotiations [[link removed]] with a high-profile group of U.S.-based investors to accompany a potential investment from the PIF, which has a Dec. 31 deadline for completion.

Now, ESPN is reporting [[link removed]] that an investment pact with Strategic Sports Group, a consortium [[link removed]] of American professional sports team owners led by Fenway Sports Group (parent company of the Boston Red Sox), is imminent. SSG would inject more than $3 billion into PGA Tour Enterprises, and additional funding from the PIF could bring the total investment past $7 billion. That company could be valued at roughly $12 billion, according [[link removed]] to The New York Times, which pegged SSG’s investment at $3.5 billion. The PGA Tour would have control over that new entity, with SSG and the PIF as minority investors.

The PIF has already shelled out billions of dollars to back the launch of LIV, which has given hundred-million-dollar-plus contracts to the likes of Phil Mickelson, Dustin Johnson, Brooks Koepka, and most recently Jon Rahm [[link removed]].

Any new funding for the PGA Tour will be crucial as it looks to continue offering huge tournament purses, like the $20 million to be offered at its eight signature events in 2024, even as some top sponsors, such as Wells Fargo, stop backing those tournaments.

Seeking Stadium Funds, the Rays Faced an Amusing Request: Change Their Name [[link removed]]

Nathan Ray Seebeck-USA TODAY Sports

For a brief moment, Tampa Bay Rays fans faced the prospect of another name change.

As the Rays ask the city of St. Petersburg and Pinellas County to cover roughly half the costs of a new $1.3 billion ballpark, a city council member proposed that the MLB franchise be rebranded as the St. Petersburg Rays – which would have given the team its third name since entering the league in 1998 as the Tampa Bay Devil Rays before dropping “Devil” from its name in 2007. The Rays have always played at Tropicana Field, which, in fairness to said city council member, is in St. Petersburg.

On Thursday, that council member, Gina Driscoll, softened [[link removed]] her proposal, simply asking for more details about how the Rays could “elevate St. Petersburg” after receiving stiff pushback from city and team officials.

“There will not be a new ballpark nor a redevelopment project if there’s a requirement to change our franchise’s name,” Rays co-president Brian Auld said. St. Petersburg mayor Ken Welch chimed in, saying that asking the team to change its name “undermines our progress” and “distracts from our goal.”

Naming Rights

The Rays aren’t the only professional sports team to struggle with the branding of their locale:

MLB’s Los Angeles Angels have previously been known as – deep breath – the Los Angeles Angels of Anaheim, the Anaheim Angels, and the California Angels. They’ve played in Anaheim since 1966. Before moving to Sacramento in 1985, the NBA’s Kings were known as the Kansas City–Omaha Kings while splitting home games between the two cities, then simply the Kansas City Kings after that city built a new arena. The Golden State Warriors were known as the San Francisco Warriors from 1962-1971. And, of course, the New York Giants haven’t played home games in New York since 1975. The Jets, too, have resided in New Jersey since 1983. Which means that Buffalo Bills fans can call themselves the only NFL team in New York.

As noted above, the Rays rebranded in 2007. But what’s also notable [[link removed]] is the fact that the Rays’ jerseys have not featured “Tampa Bay” on them since.

FRONT OFFICE SPORTS TODAY

A Look Inside College Bowl Games

On today’s episode [[link removed]], we cover the proposal that would allow the Washington Wizards and Capitals to move to Virginia — and all of the questions and hurdles that remain. We also look at stunning details that have emerged about Shohei Ohtani’s contract with the Los Angeles Dodgers and MLB’s latest attempt to stoke interest in its prospects.

Plus, we hear from Florida Citrus Sports CEO Steve Hogan on what it takes to put on bowl games like the Cheez-It Citrus Bowl and the Pop Tarts Bowl, including the story behind the latter’s edible mascot.

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

Nebraska and Texas to Cap Historic Women’s Volleyball Season in Finale [[link removed]]

Dylan Widger-USA TODAY Sports

Nebraska and Texas will battle for the 2023 NCAA Division I women’s volleyball championship in front of a national TV audience on Sunday, capping a breakthrough year for the sport.

Thursday’s semifinal matches at Amalie Arena, home of the NHL’s Tampa Bay Lightning, set an attendance record for indoor volleyball as 19,598 fans gathered to watch the tournament’s final four play out. The Cornhuskers swept fellow No. 1 seed Pittsburgh, and the No.2 Longhorns defeated No. 1 Wisconsin, 3-1. Nebraska-Texas will take place Sunday at 3 p.m. ET on ABC.

At the start of this year’s season, Nebraska set [[link removed]] the all-time record for any women’s sport by packing 90,003 fans into the school’s football stadium for Volleyball Day on Aug. 30.

Bump, Set, Spike

Next fall, the sport will have another new national stage to promote itself.

Fox Sports is backing a new two-day volleyball event on Labor Day Weekend at Fiserv Forum, home of the Milwaukee Bucks. The showcase will bring together the Wisconsin, Texas, Stanford, and Minnesota women’s volleyball teams, and also has the support of Intersport, a Chicago-based agency that has worked with the PGA Tour and Under Armour. The main Fox broadcast channel will carry two of the four matches, while the other two will be on FS1.

No financial terms of the event’s creation have been made available, but future editions will see the annual event rotate teams and locations. Organizers told Front Office Sports there has been interest from many top volleyball programs like Nebraska and others.

Conversation Starters The Shohei Ohtani Effect: Before the Los Angeles Dodgers signed the two-way superstar, the average ticket price [[link removed]] for their 2024 home opener was $580. After? It spiked to $1,236. For the first time [[link removed]] in NFL history, Thursday night’s Chargers-Raiders game featured an all-Black team of on-field and replay officials. It was also the first game with three women on the same crew. Tommy DeVito’s agent, Sean Stellato, was inducted [[link removed]] into the National Italian American Sports Hall of Fame in Chicago on Friday.

SPONSORED BY SPORTRADAR

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But to truly capitalize on the rapidly evolving sports ecosystem, organizations must seamlessly blend live action with data-driven insights.

Few companies understand this better than Sportradar [[link removed]].

As a leading global sports technology company and the official technology partner of the NBA, WNBA, and NBA G League, Sportradar will start accessing the league’s advanced optical tracking data [[link removed]] in the 2023-24 season to enable:

Teams to better evaluate player performance Richer, more immersive broadcasts Improved fan and bettor engagement

Discover how Sportradar and the NBA are partnering to optimize data for fans – read the full article here [[link removed]].

Editor's Picks Judge Rules Brett Favre’s Tax Returns Are Off-Limits in Welfare Case [[link removed]]by A.J. Perez [[link removed]]Favre won’t have to turn over tax returns requested by lawyers. The Football Player Suing Ole Miss and Lane Kiffin Releases Text Messages [[link removed]]by A.J. Perez [[link removed]]Defensive tackle DeSanto Rollins sued Ole Miss and Kiffin in September. ‘First Take’ Is Owning the Ratings Battle with ‘Undisputed’ [[link removed]]by Michael McCarthy [[link removed]]Before the start of the NFL season, “First Take” and “Undisputed” renovated their respective shows. After three months, ESPN has dominated mornings. ‘He’s Relentless’: Sean Stellato Is the Agent for the Underdogs [[link removed]]by Michael McCarthy [[link removed]]Tommy DeVito's agent has been dubbed the "Italian Jerry Maguire." ‘Tis the Season to Win!

Front Office Sports is partnering with Splash Sports to bring you a CFB Bowl Pick X Contest [[link removed]]!

Attempt to select the winner for 18 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 Dec. 16, 11 a.m. ET.

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