June 13, 2024

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Already operating in an environment of unprecedented change, the Big 12 Conference is considering two major initiatives that would further rock the entire landscape of college sports. … Wimbledon is increasing its prize money for the upcoming 2024 tournament, extending a period of historic compensation growth in tennis—and driven in no small part by the oldest of the Grand Slams. … The new USL Super League is starting with some big exposure on Peacock. … Plus: More on IndyCar, the X Games, Formula E, and the Falcons.

Tell us: What do you think of the Big 12’s move to potentially sell corporate sponsorship for the conference name? See our story below and reply to this newsletter with your ideas for a new name and we’ll publish some of your comments in a future edition.

— Eric Fisher [[link removed]], Amanda Christovich [[link removed]], and David Rumsey [[link removed]]

The ‘Big’ in Big 12 Could Soon Be Replaced With a Sponsor’s Name [[link removed]]

Jerome Miron-USA TODAY Sports

The Big 12 is exploring what would be two of the most significant changes to the college conference models to date. Under consideration are selling the conference’s naming rights to a sponsor, as well as a private equity deal with CVC Capital Partners, Front Office Sports confirmed [[link removed]] after several eye-opening reports Thursday.

With the Big Ten and SEC continuing to separate themselves financially, the Big 12 is thinking about taking unprecedented measures to close that growing gap, a source told FOS. However, the conversations are still only in exploratory stages.

Here’s What We Know

Allstate is said to be in discussions about a deal with the Big 12 worth between $30 million and $50 million annually, according to Action Network [[link removed]]. Name possibilities include “The Big Allstate Conference” or “The Allstate 12 Conference.”

The idea of selling conference naming rights was formally introduced by Big 12 commissioner Brett Yormark at league meetings last month, according to Yahoo! Sports [[link removed]]. Additionally, Conference USA is exploring a multimillion-dollar naming-rights sponsorship with Globe Life, per Yahoo! [[link removed]]

Meanwhile, CVC Capital Partners could invest $800 million to $1 billion in exchange for a 15% to 20% stake in the Big 12, according to [[link removed]] CBS Sports [[link removed]].

Shifting Landscape

The Big 12 selling its naming rights would give the conference name a similar feel to many college bowl games. And while that would be a new frontier for any singular college conference, many leagues around the world already have title sponsors. In the U.S., there is the NTT IndyCar Series; in the U.K. there is the Barclays Women’s Super League; and in France, there is the newly rebranded Ligue 1 McDonald’s, to name a few.

On the capital investment front, CVC has made similar cash injections in the commercial operations of other sports properties like the WTA, LaLiga, and Premiership Rugby, among others.

Wimbledon’s Record $64M Prize Pool Spurs Tennis-Wide Pay Increase [[link removed]]

Susan Mullane-USA TODAY Sports

Wimbledon is offering record-level prize money for the upcoming 2024 tournament, a move that will once again help establish the tennis major as a compensation trendsetter for the rest of the sport.

The All England Club said Thursday it will pay out a $64 million prize money fund for the event starting July 1, an 11.9% increase from last year [[link removed]] in raw terms and more than 13% when accounting for currency variations. Wimbledon singles winners will receive $3.45 million each, up from $3 million last year, while those losing in the first round of the singles tournament will get $76,636 each, up from $69,500 in 2023.

Overall, the Wimbledon prize pool has grown by nearly one-third compared to 2019 and doubled compared to ’14. The latest figure also extends what has been a strong recovery for the 147-year-old event from the COVID-19 pandemic, which led to the cancellation of the ’20 tournament and reduced prize money in ’21.

“Interest in attending Wimbledon has never been greater, with unprecedented demand for tickets through our public ballot and corporate hospitality,” said Deborah Jevans, All England Club chair.

Keeping Up

Last year’s boost in the Wimbledon prize fund was soon followed by a similar, 8% rise [[link removed]] for the 2023 U.S. Open pool to $65 million, joined by increases in per-diem allowances, travel assistance, and hotel allotments for players. As the ’24 Wimbledon figure roughly matches last year’s U.S. Open, it’s expected that the New York–based event will soon unveil its updated figure and again assert itself as the most lucrative event in tennis, particularly in the wake of record attendance [[link removed]] it had last year.

The other two tennis majors held this year have also followed the lead of Wimbledon, as the 2024 Australian Open offered a record $57.5 million prize pool, up by 13%, while the recently completed French Open awarded $57.7 million, up by 7.8% from last year.

This year’s Wimbledon will be without some veteran star power, however, as Rafael Nadal said Thursday he will skip the tournament to prepare for the Paris Olympics. Novak Djokovic, the 2023 Wimbledon men’s runner-up, recently had surgery on a torn meniscus sustained during the French Open and his playing status also is uncertain.

Expansion Plans

The Wimbledon prize money boost additionally arrives as All England Club officials are still attempting to pursue a dramatic, $250 million enlargement [[link removed]] of its facility. Local officials have shown concern about the effort—several years in the making—to build a new, 8,000-seat stadium and 39 additional courts, but the matter is now in front of the office of London mayor Sadiq Khan. Wimbledon is the only one of tennis’s four Grand Slam tournaments that doesn’t hold its qualifying events on-site—they’re held several miles away at a smaller, 2,000-capacity venue.

“We look forward to a public hearing on our application shortly, and we will continue to work with all relevant parties as we look to deliver one of the greatest sporting transformations [in London] since the 2012 Olympic Games,” the All England Club said.

SPONSORED BY TELEVISAUNIVISION

The Countdown to Copa America

The countdown is on. In just one week, CONMEBOL Copa America 2024—the most anticipated tournament in the U.S. this summer—will begin, and TelevisaUnivision [[link removed]] will have coverage of all the action.

Starting June 20, all 32 matches will be available across TelevisaUnivision networks and platforms, showcasing the biggest and best stars in the Americas—Messi and Argentina, Vinícius and Brazil, Giménez and Mexico, and Pulisic and the U.S. The marquee tournament [[link removed]], the oldest national team competition in the world, features the reigning champions of the 2022 FIFA World Cup and ’21 Copa America, Argentina, as it looks to win its third consecutive title.

Tune in [[link removed]] for all the action starting June 20 on Univision, TUDN, UniMás, and streaming on ViX.

ONE BIG FIG Now Streaming

The Greenville News

115

Number of games in the soon-to-launch USL Super League that will be streamed by Peacock. The new first-division women’s soccer league [[link removed]] will begin playing in the U.S. this fall, and it has signed a national broadcast deal with the streamer, which will carry all regular-season and playoff matches. The league’s clubs will be able to sell their local media rights for linear distribution, a spokesperson tells Front Office Sports.

STATUS REPORT Three Up, One Down

Mark J. Rebilas-USA TODAY Sports

IndyCar ⬆ The racing series has signed a new media deal with Fox Sports, which will take over broadcast rights from NBC Sports next season. Every event will be broadcast on the main Fox network channel, giving IndyCar more reach than it has now with races split between over-the-air and cable channels. Financial details were not released, but IndyCar CEO Mark Miles (above, right) previously told Front Office Sports [[link removed]] the series was expecting an increase over its current annual fee, which is believed to be $20 million.

X Games ⬆ The venerable action sports competition, now 30 years old, is moving to a global, team-based format starting in 2026. The newly formed X Games League will showcase a new year-round international competition calendar, supplementing $2.4 million in prize purses already awarded. The new structure, modeled in part after Formula One, marks the latest move for X Games under the majority ownership of MSP Capital, led by Phoenix Suns vice chairman Jahm Najafi and veteran sports executive Jeff Moorad. ESPN is a minority equity and linear TV partner of the X Games.

Formula E ⬆ The electric racing series is set to have a new majority owner after Liberty Global agreed to buy the minority stake owned by Warner Bros. Discovery, taking its stake up to 65%. Liberty Global is a NASDAQ-listed company with a $6.6 billion market cap, and its chairman, John Malone, serves the same role at Liberty Media, the owner of Formula One.

Falcons ⬇ The NFL team will forfeit its fifth-round draft pick in 2025 and be fined $250,000 for violating anti-tampering rules in the signing of three free agents this offseason, including quarterback Kirk Cousins, who signed a four-year, $180 million deal. Meanwhile, the league cleared the Eagles of any wrongdoing related to the signing of running back Saquon Barkley.

SPONSORED BY TELEVISAUNIVISION

La Cultura del Fútbol

There’s nothing better than live sports, and that includes soccer (or fútbol to many).

TelevisaUnivision [[link removed]] is the soccer leader in the U.S., regardless of language, accounting for more than 50% of all soccer viewing on television. Its soccer portfolio [[link removed]] is unmatched, with rights to Liga MX, the most-watched soccer league in the U.S., Liga MX Femenil, Leagues Cup, UEFA Champions and Europa League, Mexico men’s national football team, Concacaf Nations League, 2025 Gold Cup, UEFA European Qualifiers, Colombian Football League, United Soccer League, and the two biggest soccer tournaments this summer—UEFA Euro ’24 and CONMEBOL Copa America ’24.

The cultural celebration and vibrancy of everything soccer [[link removed]] has to offer lives on TelevisaUnivision networks.

Conversation Starters McDonald’s is one of the Mets’ partners, and Grimace threw out the first pitch at Citi Field last night as part of his birthday celebration. He also waved to opposing pitchers. Watch here [[link removed]]. Netflix’s new series Receiver, featuring Davante Adams, Justin Jefferson, George Kittle, Deebo Samuel, and Amon-Ra St. Brown, premieres July 10, with the first trailer [[link removed]] just released. The 2024 NCAA baseball Super Regionals on ESPN averaged 501,000 viewers, marking the most-watched [[link removed]] round since 2009 and a 22% increase from last season. Editors’ Picks Why Alexis Ohanian Thinks Women’s Track Is Ripe for Heavy Investment [[link removed]]by Dennis Young [[link removed]]The serial sports investor explains his plans for women’s track to ‘FOS.’ Caleb Williams Launches Investment Firm Before Signing a Bears Contract [[link removed]]by Alex Schiffer [[link removed]]Williams announced 888 Midas for private equity, VC, and real estate deals. House Committee Considers Legislation Saying College Athletes Aren’t Employees [[link removed]]by Amanda Christovich [[link removed]]The NCAA has waged a major lobbying campaign. 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]]

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