March 8, 2024

Read in Browser [[link removed]]

POWERED BY

Formula One’s billions are spreading all across the grid. … An unexpected move by NFL Network is raising some eyebrows. … ESPN, Fox, and WBD’s streaming venture continues sparking more questions than answers. … And the Pac-12’s remaining two members are considering all their options.

— Eric Fisher [[link removed]] and David Rumsey [[link removed]]

Formula One Team Values Are Surging. How High? That’s Debatable [[link removed]]

Austin American-Statesman

Already boasting one of the fastest-growing sets of franchise valuations in the industry, Formula One is reaching another milestone as every team is worth at least $1.3 billion, or £1 billion, according to McLaren Racing CEO Zak Brown.

Speaking at Bloomberg’s Power Players event [[link removed]] in Jeddah ahead of Saturday’s Saudi Arabian Grand Prix, Brown credited a surge in American popularity and overall revenues under the leadership of Liberty Media, which purchased the motor-sports circuit in 2017.

“Half the grid is profitable. They weren’t five years ago,” Brown said.

Brown’s boasts differ somewhat from F1 valuations from last summer by Forbes [[link removed]], which placed the least valuable team, Williams Racing, at $725 million, and four of the 10 teams below that $1.3 billion mark. But even that list had an average team valuation of $1.88 billion, more than triple the comparable $500 million mark from 2019.

Sense Behind the Surge

Liberty’s recent earnings confirmed the underpinning behind the team valuation surge, as F1’s full-year attendance rose 5% in 2023 to 6 million, revenue grew 25% to $3.22 billion, and operating income surged 64% to $392 million. Helping drive those numbers were mushrooming fan interest in the U.S. and successful new events, such as the Las Vegas Grand Prix, which despite heavy upfront infrastructure costs, local unrest still unfolding [[link removed]], and some operational issues, still proved a solid hit both on-site [[link removed]] and on television [[link removed]].

Even amid a particularly dramatic [[link removed]] offseason with several driver- and team-level issues, F1 officials pointed to continued upside surrounding the sport.

“We have a solid financial foundation and an attractive, growing fan base,” F1 CEO Stefano Domenicali said in an earnings call with analysts. “Our team is focused on deepening this fandom.”

But there also remains a sharply enforced scarcity to F1, which is no doubt further amplifying team valuations behind the core financial performance. League officials have consistently held off [[link removed]] on team expansion and, most recently, rejected [[link removed]] a bid from Andretti to become the 11th team in 2025 and ’26.

“What Liberty is wanting to do is protect the value of the 10 teams that exist,” Brown said. “We’re now in a position where pre-Liberty, you had teams falling away. Now post-Liberty era there are teams lining up to get into the sport. So I think Liberty is just seeing how, when, and if they want teams to enter.”

THE TAKEAWAY Interesting Time to Head West, NFL

AP Photo/Diane Bondareff

NFL Network’s Good Morning Football has built a substantial fan base since launching in 2016. From former MTV star Kyle Brandt’s wildly entertaining “angry runs” segment to Peter Schrager’s thoughtful analysis and well-reported scoops, the show is a refreshing break from the never-ending debate cycle on other channels. So, it was a little concerning to see this week’s news that Good Morning Football was going on hiatus March 29 as part of a production move from New York to Los Angeles, with a yet-to-be-determined return date before next season. Why is NFL Network’s flagship morning program going dark one month before this year’s NFL draft, which could see franchise-hopeful quarterbacks taken with the first three picks?

But the announcement framed the development as an expansion, which will include syndication of the hit show. Reports indicate the syndicated version will simply be called [[link removed]] GMFB, likely on free broadcast TV [[link removed]], as opposed to the often premium-tier NFL Network. Brandt addressed the news at the top of Thursday’s show. “Good Morning Football—the show, the brand—is going to continue for a very long time,” he said. “It’s expanding. More, bigger, brighter. … You’re gonna have to wait a while. It’s going to be different, and then it’s going to be right back.”

The move out West certainly makes sense given the resources available at NFL Media’s sprawling HQ across from SoFi Stadium in Inglewood, Calif. What doesn’t make sense is the timing around the relocation and lack of concrete details. Brandt sure sounded like he’s excited about the transition, but there’s been no confirmation that he, Schrager, and fellow cohosts Jamie Erdahl and Jason McCourty will actually make the move and be part of Good Morning Football 2.0. Here’s to hoping they all do, and that the show retains its unique feel. But as Brandt said, we’re going to have to wait to find out.

SPONSORED BY ACURA

Energy That Drives

[[link removed]]

Acura has been a challenger since its beginning—raising the bar, rebelling against the norms, and redefining what it means to drive since 1986. Now Acura’s making that same energy, electric.

Introducing the all-electric Acura ZDX [[link removed]]. Crafted using the same formula that brought us electrified supercars, the ZDX features a Bang & Olufsen® sound system, DC Fast Charging capability, and a high-performance Type S model with an estimated 500 horsepower, making the ZDX Acura’s most powerful [[link removed]] SUV to date.

Unlock the energy [[link removed]].

FRONT OFFICE SPORTS TODAY What’s Really Behind the ESPN, Fox, WBD Streaming Collaboration?

Gary A. Vasquez-USA TODAY Sports

The three media behemoths recently announced the formation of a new sports streaming service. The news was met with intense curiosity. And then what happened? Well, so far not much. We spoke with Jonathan Mahler, a New York Times Magazine writer and the author of Ladies and Gentlemen, the Bronx Is Burning, to sift through the tea leaves on the new venture. Mahler also discussed why WBD’s CEO, David Zaslav (above), might need the other two entities more than they need him, and the changing nature of ESPN personalities.

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

LOUD AND CLEAR Not As Simple As You Think

Kyle Terada-USA TODAY Sports

“I don’t think it would be accurate to say that the best case is rebuilding the Pac-12. The best case is whatever scenario would put Oregon State and Washington State in the best possible position to succeed and thrive long-term.”

—Pac-12 commissioner Teresa Gould, speaking with The Washington Post [[link removed]], about her vision for the conference’s remaining two members after taking over for George Kliavkoff last week. With the Pac-12’s other 10 schools leaving this summer, Oregon State and Washington State are set to partner with the Mountain West Conference on a football schedule this fall, and the West Coast Conference for other sports.

SPONSORED BY SORINEX

The Facilities Arms Race

Throughout the country, college sports are on a historic run. Massive media rights and NIL deals are getting signed, attendance records are being broken, and superstars like Caitlin Clark are elevating women’s sports to new heights.

At the foundation of it all are schools’ athletic facilities.

Among weight rooms, locker rooms, nutrition centers, medicine clinics, and the courts and stadiums themselves—universities are spending millions on state-of-the-art athletic centers.

During our Future of Sports: College Athletics [[link removed]] event on March 13, we’ll connect with coaches and athletic staff from TCU, Clemson, and Memphis, as well as the president of Sorinex Exercise Equipment, to discuss the impact this phenomenon has on everything from recruiting and player development to the fan experience, donations, and school revenue.

Reserve your spot [[link removed]] now.

TIME CAPSULE March 8, 1941: Pitcher to Private

ACME/press photo

On this day 83 years ago: Phillies pitcher Hugh Mulcahy became the first MLB player to be drafted into military service during World War II. Occurring nine months before the attack on Pearl Harbor, Mulcahy’s induction to the military was part of a 1940 act by President Franklin Roosevelt in which he set up a peacetime draft in anticipation of U.S. involvement in the war. But Mulcahy would later be joined in service by hundreds of other MLB players including icons Yogi Berra, Joe DiMaggio, Bob Feller, Stan Musial, and Ted Williams.

That military presence ultimately would have numerous spinoff effects, including the rise of the All-American Girls Professional Baseball League, and a marked MLB player shortage that led to Joe Nuxhall’s appearing in a game at age 15, still a league record. With a U.S. military draft no longer in existence, such a situation is almost unfathomable to consider today, but it would be comparable to stars, like Aaron Judge, Mookie Betts, and Mike Trout, all taking years out of their athletic careers to serve. Mulcahy ultimately served for more than four years, but he later returned to baseball as a player, scout, and coach.

Conversation Starters Tickets for this year’s WNBA draft, open to the public for the first time since 2016, sold out [[link removed]] in just 15 minutes. Friday nights are about to change on certain college campuses. Starting this fall, Fox will broadcast a Friday night college football game every week [[link removed]] throughout the season. Clippers owner Steve Ballmer is launching [[link removed]] a new holding company, Halo Sports and Entertainment, which will oversee assets including the Clippers, Intuit Dome, Kia Forum, and the G League’s Ontario Clippers, with Gillian Zucker set to be named CEO. Editors’ Picks Las Vegas Aces Announce Season Tickets Are Sold Out in Apparent WNBA First [[link removed]]by Margaret Fleming [[link removed]]The back-to-back champs have two months until their first game. Jake Paul, Mike Tyson Netflix Fight Raises Questions About Oversight [[link removed]]by Margaret Fleming [[link removed]]Why 57-year-old Tyson is allowed to compete is puzzling. UEFA Installed a Stadium Carbon Footprint Calculator. A Climate Scientist Wants to See More [[link removed]]by Adam Duerson [[link removed]]UEFA’s total travel for the 2024–25 season rivals multiple trips to the Moon and back. Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Video [[link removed]] Podcast [[link removed]] Sports Careers [[link removed]] Written by Eric Fisher [[link removed]], David Rumsey [[link removed]] Edited by Matthew Tabeek [[link removed]], Catherine Chen [[link removed]]

If this email was forwarded to you, you can subscribe here [[link removed]].

Update your preferences [link removed] / Unsubscribe [link removed]

Copyright © 2024 Front Office Sports. All rights reserved.

460 Park Avenue South, 7th Floor, New York NY, 10016