July 9, 2024

Read in Browser [[link removed]]

POWERED BY

Celtics owner Wyc Grousbeck has more big aspirations for the franchise as he and his family begin the process to sell it. … Big 12 commissioner Brett Yormark is firmly on the hunt for new revenue streams as the pace of change accelerates in college sports. … The quarterfinals of the Euro 2024 tournament draw big U.S. audience numbers on Fox Sports. … Plus: More on New Era Cap, Olivia Dunne, NFL-themed slot games, and NASCAR.

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

Celtics Owner Outlines Sale Plans and Bidding Process, Eyes Record Price [[link removed]]

Bill Streicher-USA TODAY Sports

Celtics owner Wyc Grousbeck (above) has now started an elongated path to part ways with the NBA team, but he still has ambitions to set more records in his final chapter with the franchise.

Speaking on CNBC [[link removed]], Grousbeck said he intends to set a new sports industry record with the recently started sale process [[link removed]] for the NBA champion Celtics. Such a mark, at least within basketball, likely, as the current league mark for a full-team deal is Mat Ishbia’s $4 billion purchase [[link removed]] of the Suns, and the Celtics were previously estimated [[link removed]] at $4.7 billion—even before the team’s latest title and the arrival of the NBA’s new national TV rights agreements.

The higher target would be the $6.05 billion that the NFL’s Commanders garnered last year in the Josh Harris–led deal.

“I haven’t thought much about [it] going forward, but I am a competitive guy—why not?” Grousbeck said of surpassing the Commanders’ number. “I mean, if you’re going to keep score, keep score on everything.”

A key component of Grousbeck’s confidence is the rarity of a franchise such as the Celtics hitting the market at such a competitive high point, instead of a more typical timing during a rebuilding effort.

“I would think there’d be interest, because people would be able to start being involved in something that is at the top of the world, not the bottom,” he said.

Sales Factors

Among the key points also detailed by Grousbeck in his first comments since announcing the team would be going on the market:

He envisions a two-stage sale of the team. The first chunk, the 51% controlled by the Grousbeck family, will be sold “fairly soon,” while the remaining 49% held by other partners is targeted for a separate, later transaction. Grousbeck intends to remain the Celtics’ governor until 2028. Estate planning indeed is at the root of the decision to sell. Grousbeck’s ownership of the Celtics is in combination with his family, including his father, Irving. “It’s a family I belong to, and then I have the Celtics family I also belong to, so there’s an intersection and involvement,” he said. “So there’s been discussions and thoughts about estate planning and family planning.” He welcomes interest from Steve Pagliuca in buying a majority share. Pagliuca, a prominent team minority owner, quickly said following the sale announcement that he is interested in mounting a bid for control of the team.

“Steve has been a terrific lead partner and lead co-owner, I would say, in many ways,” Grousbeck said. “Steve has been great, and is a great person, and we welcome [him], obviously, for sure, in the bidding process.”

Big 12’s New Era Kicks Off: Expansion, Private Equity, and Global Ambitions [[link removed]]

Candice Ward-USA TODAY Sports

The Big 12 kicked off its first football media days as a 16-team conference Tuesday in Las Vegas, marking the start of a new era under commissioner Brett Yormark (above).

It was 24 months ago, as uncertainty around conference realignment clouded college sports, that Yormark in his first media days as commissioner declared the Big 12 was “open for business.” He followed through on that statement, and the conference eventually added Arizona, Arizona State, Colorado, and Utah, while bluebloods Oklahoma and Texas left for the SEC.

Now, the Big 12 is leading more change within college sports, with Yormark confirming the conference’s groundbreaking interest [[link removed]] in striking a deal for a private equity investment and changing the league’s name. “From a conference perspective, we are exploring all options,” Yormark said Tuesday from Allegiant Stadium. “Two years later, I guess you could say we’re still open for business. Naming rights is one. Private equity is another.”

Private Equity Money

When asked specifically about private equity, Yormark didn’t shy away from the need for more funding. “I do believe that given where we are—the industry—having a capital resource as a partner makes a ton of sense,” he said. And with more private equity money flowing into professional sports (which could include the NFL soon), Yormark predicts it’s only a matter of time until college sports is next.

But it’s not as simple as writing a check and moving on. “A structure and a model of what that looks like is going to be critically important so that we’re not compromising the long-term future of the conference,” he said.

Playing Across the Border

Yormark also touched on the recent $2.7 billion settlement [[link removed]] that the NCAA and Power 5 conferences agreed to, which could ultimately lead to revenue sharing with players. “The settlement provides a very crystal-clear future and path forward for our industry,” he said. “It provides incredibly enhanced benefits for our student-athletes.”

Meanwhile, Yormark announced the Big 12 is once again making changes to its plans to expand [[link removed]] into Mexico. After delaying the initiative to 2025 that was supposed to kick off with basketball games in Mexico City this December, Yormark said the conference is pivoting to exploring baseball and women’s soccer games in the country.

SPONSORED BY CRYSTAL

Book With Crystal and Enjoy a Reward

Experience Crystal [[link removed]] and enjoy a reward now through Sept. 30, 2024.

After complete renovations in 2023, their ships set a new standard with world-class dining, including the only Nobu restaurant at sea, elegant and spacious suites with personal butlers, and one of the industry’s best guest-to-crew ratios, plus captivating entertainment. Travel across the globe and immerse yourself in the incredible destinations they visit with their sister brand, Abercrombie & Kent.

Book any eligible voyage [[link removed]] and enjoy a credit of up to $1,000*, which can be used for flights or transfers or as a shipboard credit to be spent however you choose—whether that’s on spa treatments, next-level shore experiences, or even shopping in their onboard boutiques.

ONE BIG FIG European Delight

Yukihito Taguchi-USA TODAY Sports

3.6 million

The average audience for UEFA Euro 2024 quarterfinal matches on Fox Sports, a new record for that round of the tournament on U.S. English-language TV. That viewership figure is up 89% from the most recent Euros in ’21, which were broadcast on ESPN. It continues a trend of record soccer ratings [[link removed]] for Fox as both the Euros and Copa América begin their respective semifinals Tuesday.

STATUS REPORT Three Up, One Push

Charles LeClaire-USA TODAY Sports

New Era Cap ⬆ The Buffalo-based company has struck a multiyear deal with the NHL to produce official headwear and apparel, beginning with the 2024–25 season. The company now simultaneously has licensing agreements with the NHL, NBA, NFL, MLB, and MLS for the first time in its history. The agreement closely follows the NHL’s introduction [[link removed]] of its new, Fanatics-produced uniforms, as well as New Era’s acquisition [[link removed]] of ’47.

Olivia Dunne ⬆ The star LSU gymnast (above) and trailblazer [[link removed]] in name, image, and likeness rights announced she will be returning for a fifth collegiate season, with the additional eligibility made possible by the COVID-19 pandemic. The girlfriend of star Pirates rookie pitcher Paul Skenes [[link removed]] said in a social media post [[link removed]] that she was “not Dunne yet.”

Aristocrat Gaming ⬆ The company that obtained a license for NFL-themed slot machines [[link removed]] at casinos around the U.S. last year has struck a new deal [[link removed]] to use the same team branding and league logos in an online mobile slot game.

NASCAR in Chicago ⬆⬇ Sunday’s street race averaged [[link removed]] 3.87 million viewers on NBC. That’s down from the 4.8 million who watched last year’s debut race downtown, but it’s still the second-largest NASCAR audience for NBC Sports in the past three years.

FRONT OFFICE SPORTS EVENTS

From Fireside to Courtside

Summer is officially in full swing and Front Office Sports is headed to the Hamptons. On Aug. 2, Huddle in the Hamptons [[link removed]] will bring together business leaders in sports, entertainment, technology, and media for an afternoon of panels, networking, and racket sports.

The perfect way to spend a summer Friday, this invite-only event will begin with a series of fireside chats and conclude with a pickleball tournament.

To become a partner or learn more about the event, visit our website [[link removed]].

Conversation Starters Marney Gellner is making history [[link removed]] this week in Chicago, calling the Twins’ series against the White Sox as the first woman to do play-by-play for Minnesota. The Indiana Fever–New York Liberty game Saturday drew 1.87 million viewers on CBS, a 215% increase [[link removed]] from the same time slot last year. This season, WNBA games on CBS have seen a 132% rise, averaging 1.37 million viewers. JJ Redick gave a final send-off [[link removed]] from The Old Man & The Three podcast Monday, while the new Lakers head coach assured that his production company, ThreeFourTwo, will continue to operate. Editors’ Picks Arch Manning Will Be in EA’s ‘College Football 25’ After All [[link removed]]by Dennis Young [[link removed]]The NCAA’s most famous backup had previously opted out. ‘Powerless’ Brett Favre Attempts to Revive Lawsuit Against Shannon Sharpe [[link removed]]by A.J. Perez [[link removed]]Attorney argued Sharpe’s comment that Favre ‘stole’ welfare dollars isn’t protected speech. Struggling Nike Widely Cut Executives in Last Layoff [[link removed]]by Dennis Young [[link removed]]Nike is, by any measurement, facing a grave emergency. DISCLAIMER

*Terms & conditions apply.

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