February 21, 2024

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An unlikely power broker is holding up the Washington Capitals and Wizards’ plans for a new arena in Alexandria, Va. … Americans bet nearly $120 billion on sports (legally) in 2023. … Manchester United’s new minority owner has a bigger stake than originally expected. … Are the A’s chances of moving to Las Vegas decreasing? … And we look back at the formation of the U.S.’s biggest stock racing series.

— David Rumsey [[link removed]]

Meet L. Louise Lucas, Pro Sports’ New Power Broker [[link removed]]

Sen. L. Louise Lucas

One of the most powerful figures in pro sports is an 80-year-old Virginia legislator who has no prior experience in the industry but has a long and decorated history as a civic activist. And she just might deliver a fatal blow to a proposed $2 billion arena and mixed-use development in Alexandria, Va., for the Washington Wizards and Capitals.

L. Louise Lucas, an influential Virginia state senator who chairs that body’s finance and appropriations committee, has already come out strongly against the project led by Monumental Sports and Entertainment chair Ted Leonsis, calling [[link removed]] it “not ready for prime time.” In delivering the senate’s proposal for the upcoming state budget, Lucas did not include funding for the arena project, and she doubled down on her firm objections to the proposal.

“We’re not going to let billionaires build their fortunes on the backs of our taxpayer dollars,” Lucas said. “As you know, [MSE] is talking [[link removed]] about going public at some point, after taxpayer dollars have gotten them to the point where they want to get to, and under my watch, I say, ‘Hell no.’”

That stance sets up a fight within the Virginia legislature, as the state assembly’s budget proposal does include support for the arena project, and with Gov. Glenn Youngkin, also a strong advocate. The budget battle will now play out over the next two-plus weeks until the end of the legislative session March 9.

This upcoming period will be something of a referendum on the political power of Lucas, and whether she can maintain enough political support, particularly among fellow Democrats, to continue the opposition against the Alexandria arena. She has been in state politics for more than three decades after starting her professional life as a trailblazing shipfitter at the Norfolk Naval Shipyard and later becoming a health-care entrepreneur.

In addition to fighting along party, racial, and gender lines, Lucas has long been familiar with the geographic divide in Virginia, where political interests in the Washington suburbs frequently battle for resources and priority against those in the downstate Tidewater region that includes her hometown of Portsmouth.

An Unlikely Social Media Star

In the meantime, Lucas and her staff have been running a fervent social media campaign against the arena project, and Tuesday leveled [[link removed]] another blow against Leonsis and Youngkin, posting, “The GlennDome financing is based on ticket sales to the new arena. Looking at the projections, that appears to include Wizards playoff tickets. Wizards? Playoffs? I was still at the shipyard the last time they were relevant in that discussion and they were still called the Bullets.”

She also railed against those criticizing her for voicing her beliefs, tweeting [[link removed]], “The last thing anybody should ever try to do is bully me. I was a teenage mother who broke the gender barrier with a physical job at the shipyard. At 80 years old I will kick their ass and make sure everyone is watching. Not calling any names YET but you know who you are.”

The arena effort, however, has only reignited what has been more than two years of active social media combat [[link removed]] by Lucas against the Republican Youngkin.

U.S. Sports Betting Sets Records in 2023 for Handle, Revenue [[link removed]]

Circa Resort & Casino

The U.S. sports betting industry previously projected [[link removed]] 2023 to be the first 12-figure year for total handle. That expectation, as it turned out, was a bit too modest.

The American Gaming Association said the U.S. sports betting business finished with a record $119.8 billion in handle, a whopping 27.8% increase from 2022, blowing past those prior projections of hitting $100 billion for the year, and coming on the heels of a robust, football-driven fourth quarter for the year that easily surpassed the January to September handle growth rate of 22.9%.

The full-year increase owes to several factors, such as five new jurisdictions becoming operational in 2023, including top performers Ohio and Massachusetts, as well as the high-profile arrival [[link removed]] of ESPN Bet.

Among the other key findings in the AGA annual report [[link removed]] released Tuesday:

U.S. sportsbook revenue grew 44.5% to $10.9 billion, also a record, led by New York’s $1.7 billion as the Empire State continues to be a highly coveted [[link removed]] jurisdiction for operators despite a 51% tax on operators. Trailing New York among top states in sportsbook revenue were (in order): New Jersey, Illinois, Ohio, and Pennsylvania. More than $40 billion alone was bet between October and December, up by 34.4% from the same period in 2022. Tap the Brakes?

Future growth at similar rates, however, could be harder to come by as top-population states California, Texas, and Florida continue to show resistance to varying degrees toward legalization, and 38 states plus D.C. now allow sports betting. North Carolina is the latest and will begin activity next month after legislative approval [[link removed]] last June.

“There’s a lot fewer states left on the board [for legalization],” said Chris Cylke, AGA senior vice president of government relations. “Some of them have pretty significant political challenges in terms of getting sports betting itself enacted.”

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The A’s Messy Move to Vegas

With every passing day, it becomes more and more of a mystery what exactly the Oakland A’s are up to. Melissa Lockard of The Athletic joins Front Office Sports Today with thoughts on where the A’s will play next season and whether they will ever make it to Las Vegas.

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

ONE BIG FIG An Even Bigger Stake

Manchester United

27.7%

The percentage of Manchester United now owned by British billionaire Jim Ratcliffe. The Premier League club confirmed his $1.3 billion deal [[link removed]] for 25% of the team has been completed after receiving all necessary approvals. A further investment of $200 million (to be focused on upgrading [[link removed]] infrastructure at Old Trafford) increased Ratcliffe’s stake. That should continue to grow with another $100 million to be invested by the end of the year.

TIME CAPSULE Feb. 21, 1948: Start Your Engines

Peter Casey-USA TODAY Sports

On this day 76 years ago: The National Association for Stock Car Auto Racing was officially formed after several weeks of meetings in Daytona Beach, Fla. Bill France Sr. had been leading talks with drivers, race promoters, and other stakeholders in the fledgling sport.

France, whose son Bill Jr. and grandson Brian also served as CEOs of NASCAR, died in 1992, but his family still owns and operates the sanctioning body today as an influx of $7.7 billion is set to enter the sport via new media rights deals [[link removed]] that kick in next year.

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The company is a membership model of seafood delivered straight to your door. Each delivery is packed with a variety of delicious offerings, featuring fish and shellfish from Alaska. Everything is frozen shortly after harvest and always processed in the USA, locking in incredible quality, nutrition, and flavor in every box of seafood.

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Conversation Starters White Sox owner Jerry Reinsdorf and Related Midwest are asking Illinois for $1 billion [[link removed]] in public funds for a new downtown stadium. Major League Soccer’s new season will begin this week with replacement game officials after the referees’ union rejected [[link removed]] a tentative CBA. Join Front Office Sports and the School of Sport, Tourism and Hospitality Management (STHM) at Temple University on March 6 at 1 p.m. ET for The Future of Fan Interaction [[link removed]]—a thought-provoking discussion about the transformative impact virtual reality and the metaverse will have on how we watch and interact with sports.* Editors’ Picks After Pac-12 Collapse, College Football Playoff Modifies Its 12-Team Qualifications [[link removed]]by Amanda Christovich [[link removed]]The CFP will allow five top-ranked conference champions and seven at-large bids. Caitlin Clark Passes Shedeur Sanders As Fanatics’ Top-Selling NIL-Era Athlete [[link removed]]by A.J. Perez [[link removed]]The Iowa guard took the spot hours after her record-breaking game against Michigan Thursday. Comcast CEO on the Paris Olympics, NFL Streaming, and NBA Rights [[link removed]]by Eric Fisher [[link removed]]NBCUniversal parent also eyes resurgence in fan interest in the Olympics. DISCLAIMER

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