June 25, 2024

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The NHL will now be essentially starting over in its consideration of Phoenix as a hockey market after Coyotes owner Alex Meruelo abandoned efforts to develop a new arena. … Front Office Sports media expert Michael McCarthy has strong thoughts on JJ Redick’s introductory press conference. … More public money is headed toward major projects at NFL stadiums. … Another week has brought yet another historic viewership total for a WNBA game involving Caitlin Clark and Angel Reese. … Plus: More on the NFL Sunday Ticket trial, the Chiefs, U.K. soccer clubs, and USA Cricket.

— Eric Fisher [[link removed]], A.J. Perez [[link removed]], and David Rumsey [[link removed]]

NHL Faces a Reset After Meruelo’s Missteps and Coyotes Collapse [[link removed]]

Joe Camporeale-USA TODAY Sports

Just two months after establishing a long-range plan to revive pro hockey in the Phoenix area, the NHL will now need to hit the reset button on what has long been a problematic market for the league.

Alex Meruelo, the owner of the dormant Coyotes franchise, is abandoning [[link removed]] efforts to reactivate the team, marking an abrupt end to his attempted restoration. The move closely follows the cancellation [[link removed]] of an auction by the Arizona State Land Department for a 110-acre piece of state-owned property in north Phoenix that Meruelo sought to purchase for a new arena. But despite the nearly five years Meruelo still has in his deal [[link removed]] with the NHL to secure an arena agreement, there was no backup site option for the team and, thus, no viable path forward for him.

Neither the team nor the league has yet issued a statement on the decision. But Front Office Sports confirmed an initial report from PHNX Sports [[link removed]]. FOS has further learned that the owner’s son, Alex Meruelo Jr., relayed the change in course to remaining team staff. Most of those last Coyotes employees have been laid off, but a small handful of people are still employed by the team, a source with knowledge of the situation said.

Meruelo’s Struggles

The problems surrounding Meruelo, however, went far beyond land and zoning issues that led to the aborted auction. In his five years as majority owner of the Coyotes, Meruelo developed very few political allies locally and often found himself in various disputes with multiple jurisdictions across the Phoenix area. Support was also weak [[link removed]] for the use of any type of public funds, including property tax abatements, for the arena project.

So as complications quickly arose with the north Phoenix parcel, Meruelo had essentially no fallback options.

“No one should be surprised at this ownership group’s incompetence and duplicity,” Tempe councilman Randy Keating tells FOS. “They were told several times what they needed to do to move forward with the auction by the City of Phoenix and not only chose not to do so, but then had the gall to cast blame. The call is, and always has been, coming from inside the house. Fans deserve so much better.”

Expansion Considerations

With the opportunity now for a fresh start in Phoenix with a different ownership group, the NHL could ultimately view the market much like other cities that have openly sought an expansion or relocated franchise, including Houston, Atlanta, and Quebec City. NHL commissioner Gary Bettman has long been an advocate of the Phoenix area, and it ranks as the No. 11 U.S. media market, helping to explain that support. But the city might ultimately find itself placed in a new consideration by the NHL without a sitting franchise, or the pathway to one, and it is smaller than both Houston and Atlanta.

For now, Bettman has not formalized [[link removed]] any expansion considerations, despite robust interest from what he says are “at least half a dozen places.” But that is expected in some circles to eventually change, particularly as the league has just completed a banner season [[link removed]] with a variety of new records in key business metrics such as attendance and revenue.

Meanwhile, the former Coyotes team is thriving thus far in its new home of Utah. Despite Salt Lake City’s standing as a smaller media market—ranking 27th—the immediate reaction from fans to the new Utah Hockey Club franchise [[link removed]] has been intense [[link removed]], creating something of a capacity issue for the franchise. More than 34,000 deposits for season tickets have been received, a figure far in excess of the roughly 10,000 seats at the Delta Center that will initially offer unobstructed views for hockey. Bettman has likened the fan frenzy there to “drinking from a fire hose.”

TUNED IN

JJ Redick’s Hypocritical Debut Presser

In his first press conference as Lakers head coach, JJ Redick came off as smug and self-serving, taking a swipe at the sports media he thrived in for the past two and a half years, writes Front Office Sports media expert Michael McCarthy.

McCarthy dissects [[link removed]] Redick’s comments and their implications in his latest “Tuned In” column.

Billions in Public Funds Are Pouring Into NFL Venues. More Is Expected [[link removed]]

Florida Times-Union

It isn’t always an easy process for NFL teams to secure taxpayer funding for venue projects, but the multibillion-dollar franchises typically end up getting their way.

The Jacksonville city council is set to vote Tuesday afternoon on public funding for a $1.4 billion proposal [[link removed]] to renovate the Jaguars’ EverBank Stadium (above). All indications [[link removed]] point to leaders greenlighting $775 million in city funds. The Jaguars would then be on the hook for the remaining $625 million, plus any cost overruns.

Jacksonville’s presumptive move comes just one day after the Panthers were awarded $650 million [[link removed]] from Charlotte officials for upgrades to Bank of America Stadium. The $800 million project will see Panthers and Charlotte FC owner David Tepper initially contribute $150 million to renovations, and be responsible for cost overruns and maintenance over the next 20 years, which are estimated to be around $421 million.

Chiefs, Browns Have Options

Last week, Kansas legislators approved [[link removed]] a measure to issue bonds to build new stadiums for the NFL’s Chiefs and MLB’s Royals, should those two clubs choose to move across state lines when their respective leases end in 2031. As much as $3.5 billion could be given to the two franchises, which are exploring alternatives following voters in Jackson County, Mo., rejecting [[link removed]] a $2 billion proposal to help fund renovations at Arrowhead Stadium and a new Royals ballpark.

Meanwhile, the Browns are weighing multiple stadium proposals [[link removed]] in and around Cleveland. Renovating their current home could cost as much as $1 billion, while building a new venue in the suburbs may take $2.4 billion. Either way, a 50-50 split between private and public funding is likely to be in the works.

Trouble in Chicago?

The NFL team in perhaps the most difficult stadium situation right now might be the Bears. Despite unveiling a $4.7 billion project for a new, domed stadium on the city’s lakefront, questions of where that funding will come from still remain [[link removed]]. The Illinois state legislature will have to approve what could be an ask for $2.4 billion, and it won’t be back in session until the fall.

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GM needs loads of lithium for its EV push. That’s why it recently led a $50 million investment round in EnergyX [[link removed]].

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There’s still time to get great odds on EnergyX before its $9 share price changes June 27.

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ONE BIG FIG Round 3 of Clark-Reese

Kamil Krzaczynski-USA TODAY Sports

2.3 million

Average number of viewers for Sunday’s broadcast on ESPN of the WNBA game between the Indiana Fever and Chicago Sky, marking the third meeting [[link removed]] this season between high-profile rookies and former college rivals Caitlin Clark and Angel Reese (above). The total just beats out the 2.25 million average [[link removed]] for the second WNBA game between the two this season, held June 16, and marks the league’s most-watched game in 23 years. The Fever’s game June 21 against the Atlanta Dream, meanwhile, averaged 1.2 million, marking the best WNBA audience ever on Ion.

STATUS REPORT Two Up, One Down, One Push

Mark J. Rebilas-USA TODAY Sports

NFL Sunday Ticket trial ⬆ Jury deliberations in the $21 billion case against the league are set to begin [[link removed]] Wednesday. Click here [[link removed]] for a refresher from Front Office Sports on the trial’s twists and turns.

Chiefs ⬆ The team will be the centerpiece of a new Hallmark holiday movie set to premiere this year. Holiday Touchdown: A Chiefs Love Story will be filmed in Kansas City, including at Arrowhead Stadium, and produced by Skydance Sports, a studio that is backed by the NFL.

U.K. soccer in the U.S. ⬇ Birmingham City, the club that Tom Brady invested in [[link removed]] last year, considered the idea of trying to play a League One match against Wrexham in the U.S., but was quietly denied permission, according to The Telegraph [[link removed]]. A game featuring the former NFL quarterback’s side against the team owned by Hollywood stars Ryan Reynolds and Rob McElhenney would no doubt have been a moneymaker for everyone involved.

USA Cricket ⬆⬇ The fairy-tale run [[link removed]] in the ICC Men’s T20 World Cup being played partially in the U.S. came to an end Sunday, when England knocked out the U.S. Now, the sport will look to continue its momentum [[link removed]] Stateside when Major League Cricket begins its second season July 5.

FRONT OFFICE SPORTS AWARDS

The Rising 25 Class of 2024 Is Here!

Over the past eight years, The Front Office Sports Rising 25 Award [[link removed]] has become one of the most competitive and prestigious awards in the business of sports.

This year, we received hundreds of nominations showcasing young professionals not only dominating in the workplace, but also taking their drive and influence beyond the office walls and into philanthropic causes.

Check out [[link removed]] the Rising 25 class of 2024.

Conversation Starters Tennessee’s baseball program went 13 years without even making the NCAA tournament, but after hiring coach Tony Vitello, the Vols have made five straight tournaments, secured $100 million in stadium upgrades, and earned three College World Series berths in four years. And on Monday they won their first national title [[link removed]]. EA College Football 25 has ranked the toughest places to play, with Kyle Field at Texas A&M topping the list. The top five round out with Bryant-Denny Stadium (Alabama), Tiger Stadium (LSU), Ohio Stadium (OSU), and Sanford Stadium (Georgia). The full list is here [[link removed]]. Miragh Bitove began as an intern at the Hockey Hall of Fame 20 years ago and has now become [[link removed]] the first woman to be a Stanley Cup keeper. Editors’ Picks Bay FC GM Abruptly Departs Halfway Through Team’s First Season [[link removed]]by Margaret Fleming [[link removed]]The NWSL expansion team is 14 matches into its inaugural campaign. Mets Owner Buys Chunk of Knicks Owner’s Las Vegas Sphere [[link removed]]by Dennis Young [[link removed]]Cohen made the investment through his hedge fund, Point72. Panthers Cap Banner Season by Staving Off Cup Collapse [[link removed]]by Meredith Turits [[link removed]]The Panthers didn’t want to win this way—but they got it done. DISCLAIMER

*This is a paid advertisement for EnergyX’s Regulation A+ Offering. Please read the offering circular at invest.energyx.com [[link removed]].

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