August 19, 2024

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FuboTV shares rose by double-digit percentages for a second straight trading day after a judge blocked Disney, Fox, and Warner Bros. Discovery’s Venu Sports. But the three media giants aren’t sweating it.

— Eric Fisher [[link removed]], David Rumsey [[link removed]], and Colin Salao [[link removed]]

FuboTV Shares Soaring After Venu Sports Legal Win, but There’s a Catch [[link removed]]

fuboTV

FuboTV is still riding high—at least on the stock market—as the high-profile Venu Sports legal battle remains in a holding pattern.

In the first full day of trading following a federal judge placing a preliminary injunction [[link removed]] against the debut of Venu Sports—the streaming alliance involving Disney, Fox, and Warner Bros. Discovery—FuboTV shares closed up by 17.6% at $1.80 per share.

The sizable increase added to a separate 17% jump Friday [[link removed]] in the immediate hours following the ruling. Earlier in Monday’s trading, FuboTV shares were up by more than 40%. The market activity is happening as Venu Sports is expected to soon contest the injunction ruling. Already, the three companies vowed to appeal in a joint statement.

On the Other Side

Despite the serious legal broadside to Venu Sports from the preliminary injunction—one that could ultimately imperil the service—the stocks of Disney, Fox, and WBD seemingly were not all impacted on the stock market by the ruling. Shares in WBD ended Monday’s trading up by 3%, while Disney stock was up by 1.7%, and shares in Fox rose by 0.4%.

A key reason for the apparent disconnect is that Venu Sports is not a particularly large entity in the context of the three media giants—despite the significant industry focus on the service. Each of those companies generates hefty quarterly revenue, ranging from Fox’s $3.1 billion to Disney’s $23.2 billion.

Venu Sports, conversely, carries at least one notable projection [[link removed]] of reaching five million subscribers by 2029. If that rather modest goal is achieved at the service’s introductory rate of $42.99 per month, that would generate less than $650 million in revenue per quarter—a sum that would be shared among the three companies.

Big Stakes

For FuboTV, however, the stakes in the Venu Sports antitrust dispute remain rather dire, and executives said the survival of the company is at stake. Even with the recent run-up in shares, the stock is still down by nearly 43% for the year.

Some analysts, meanwhile, caution that FuboTV’s surge over the past two days could be an illusion. Seaport Research downgraded FuboTV on Monday to a neutral rating after five months of a buy rating.

“With no change in estimates at this point, and with company guidance indicating their subscriber projections do not reflect the potential impact of Venu operating in the market, we think shares are largely driven by the legal process at this point, including appeals,” the firm wrote in a note to clients.

Will—and Can—NFL Stars Play Olympic Flag Football? [[link removed]]

Lucas Peltier-USA TODAY Sports

The NFL regular season doesn’t start for more than two weeks, and the Olympics are over, but the potential marriage of the two sporting giants keeps generating widespread interest.

U.S. men’s flag national team quarterback Darrell Doucette made headlines over the weekend for his resistance to NFL players joining Team USA’s flag football squad for the 2028 Los Angeles Olympics. “I think it’s disrespectful that they just automatically assume that they’re able to just join the Olympic team,” Doucette told The Guardian [[link removed]].

Doucette, 35, will lead the 12-man U.S. roster into the 2024 International Federation of American Football (IFAF) Flag Football World Championships, which begins Aug. 27 in Finland. But it was Eagles quarterback Jalen Hurts who starred in an ad during the Paris Olympics touting the addition of flag football to the Games in 2028. Fellow star QBs Joe Burrow (Bengals) and Caleb Williams (Bears) have also made their potential Olympic interest known. So have Dolphins wideout Tyreek Hill and Cowboys pass rusher Micah Parsons, among other current and former NFL players.

A Lot on the Table

Despite the hype [[link removed]] surrounding Olympic flag football, many details still need to be ironed out over the next four years. How many nations will compete in Los Angeles, and how they will qualify, have not been determined. Neither has the roster selection process for Team USA.

“We’re going to be very open-minded about anyone and everyone meeting the criteria that we set.” USA Football CEO Scott Hallenbeck told USA Today [[link removed]] in December. “We’re going for the gold, and we will do what’s necessary to put the best team together.” No specific timetable for the Olympic process has been revealed.

Finding a Middle Ground

If active NFL players want to compete in the 2028 Olympics, and have the green light from team owners, it would seem to be a huge miss for USA Football, the IFAF, or the International Olympic Committee to not allow them to. Perhaps rosters could have a limit on how many NFL players are allowed, in order to still include full-time flag football players.

SPONSORED BY AT&T BUSINESS

Explore the Future of Fan Experiences

The 2024 AT&T Innovation Exchange [[link removed]] in Las Vegas offered a visionary look at the future of fan experiences in sports and entertainment.

Key figures, including L.A. Clippers Chairman Steve Ballmer and AT&T CEO John Stankey, unveiled how cutting-edge technologies—like AI-driven fan engagement and immersive VR—will transform arenas like the Intuit Dome. Panels featuring leaders from the NBA, Disney Parks, and Cosm emphasized the importance of blending innovation with emotional connection, ensuring fans remain at the heart of every experience.

The event also spotlighted the explosive growth of women’s sports, with the WNBA leading the charge. Discover how AT&T is enabling the next generation of sports fandom.

Read [[link removed]] the full story.

Djokovic Calls for Video Review After Controversial Match-Point Decision [[link removed]]

The Enquirer

A controversial call during the Cincinnati Open has tennis stars asking for stricter enforcement of video replay.

Great Britain’s Jack Draper (above, left) won his round-of-16 match, 5–7, 6–4, 6–4, over Canada’s Félix Auger-Aliassime (above, right) after umpire Greg Allensworth ruled a volley from the Brit as legal. Auger-Aliassime believed that Draper had hit the ball first before it hit the ground on his side of the court, but the umpire ruled it a “fair shot.”

The Canadian smiled in disbelief as he approached Allensworth, and even called in another Open supervisor to argue the call. Draper said he wasn’t sure what actually happened, but he was open to replaying the shot.

“If [the supervisor] were to tell me that it hit the floor, I’d play the point again,” Draper said.

But it wasn’t either of the players’ call to make. It was Allensworth’s decision, and he held his ground.

“We can look at it after the match and if I see it wrong, I’ll admit it to you,” said Allensworth, who was also involved in another controversial call [[link removed]] earlier in the tournament.

“But that’s going to be too late,” Auger-Aliassime replied.

Had the Canadian won the point, the score would have been 40–40 in a game that if he won, would have tied the score of the decisive third at 5 apiece.

Calls for Change

The replay of the shot has created a divisiveness among the tennis community. Some, like Australian pro Nick Kyrgios, thought it was clear [[link removed]] Auger-Aliassime won the point, saying Allensworth made a “horrible call.”

Others couldn’t say for sure what happened after watching the replay. “I don’t think I have ever seen a shot like this,” Greek star Stefanos Tsitsipas, who lost to Draper in the round of 32, posted on X [[link removed]].

But for tennis great Novak Djokovic, the incident highlighted the inconsistent rules surrounding replay in tennis.

“It’s embarrassing that we don’t have video replay of these kind of situations on the court,” the 24-time grand slam champion wrote on X [[link removed]]. “What’s even more ridiculous is that we don’t have the rule in place that would allow chair umpires to change the original call based on the video review that happens off the court! Everyone who watches TV sees what happened on the replay, yet the players on the court are kept in ‘dark’ not knowing what’s the outcome.”

Video review is available in certain instances, particularly for line calls during the US Open, but even in that Grand Slam, only about 75% of the matches [[link removed]] will use Hawk-Eye technology for line reviews. The use of Hawk-Eye would be difficult for smaller events because the installation of the tech for one court would cost $100,000 [[link removed]], according to CNBC.

However, in the case of Friday’s match, Hawk-Eye tech wouldn’t even be needed. If the rules allowed a look at the broadcast feed, the umpire’s call could be overturned, allowing for a replay of the point.

AWARD

College athletic departments support athletes across a multitude of sports and through a variety of verticals. From education services to training facilities, athletic departments uniquely impact college athletes.

Don’t miss your opportunity to recognize your school. Nominate your athletic department [[link removed]] by Sept. 4 at 11:59 p.m. ET.

LOUD AND CLEAR The Price of Admission

“The league wants $6 billion for the team, for the Celtics. … They want to get $6 billion apiece for the two franchises for expansion, which would mean a check of $400 million to every NBA owner.”

—Bill Simmons, said on his podcast [[link removed]] about the potential price of the Celtics, which owner Wyc Grousbeck and his partners put up for sale [[link removed]] weeks after the team won the 2024 NBA championship. The 18-time champions are currently valued at $4.7 billion [[link removed]] by Forbes, but Simmons said the NBA wants to bump the price tag to $6 billion because it would raise prospective expansion fee prices. Bloomberg reported in July that an estimated expansion fee for a Las Vegas franchise could hit $5 billion [[link removed]], but it could rise as high as $7 billion when factoring in building a new arena.

Simmons also said Amazon founder Jeff Bezos could be a potential buyer for the Celtics [[link removed]].

STATUS REPORT Three Up, One Down

Arizona Republic

WNBA ⬆ The league announced a multiyear partnership [[link removed]] to make Delta Air Lines its official airline partner. The partnership is another step in improving travel for WNBA players after the two sides agreed to a full charter program earlier this season. Over the last few years, WNBA players have called for charter flights to improve rest and ensure safety—especially after Brittney Griner (above, left) was harassed [[link removed]] at a Dallas airport last year.

US Open gaming ⬆ The tennis major has created [[link removed]] a new physical gaming space on the grounds of the USTA Billie Jean King National Tennis Center in New York. The “Advantage Arena” will include gaming stations in which fans can play a series of tennis-themed games, including TopSpin 2K25, Tennis Clash, and US Open: Champions of the Court on Roblox. US Open attendees will be able to compete for a series of prizes during the upcoming tournament.

MLB Little League Classic ⬆ Next year’s event in Williamsport, Pa., will feature the Mariners and Mets. The Tigers beat the Yankees 3–2 on Sunday during this year’s game at Bowman Field, in front of 2,532 fans.

Los Angeles Coliseum ⬇ NASCAR is moving its annual preseason exhibition race, the Busch Light Clash, out of the Southern California venue that has hosted it for the last three years. Next year’s event will be held in Winston-Salem, N.C., at Bowman Gray Stadium, a 17,000-seat, NASCAR-owned facility.

FRONT OFFICE SPORTS EVENTS

The Event for All Things Sports Media

On Sept. 10, Front Office Sports is bringing together leaders within the sports media space for our inaugural sports media summit, Tuned In [[link removed]].

Join us as we sit down for intimate conversations with some of the industry’s biggest newsmakers. Speakers will represent organizations from ESPN, the Big East Conference, Roku, NBCUniversal, and more. Conversations will cover a plethora of topics including:

Future of media rights Sports streaming Rise of talent Athletes turned media moguls Women’s sports Sports betting Convergence of legacy and new media

With enriching discussions, elite networking, and exclusive insights, you won’t want to miss out.

Registration is filling up quickly— register now [[link removed]] to ensure your spot!

Conversation Starters Former Texas quarterback Colt McCoy is retiring from the NFL and joining NBC Sports [[link removed]] as a Big Ten football analyst. Noah Lyles told Shannon Sharpe that the sport of track and field is “not ready” for a rise in popularity. Check out [[link removed]] the interview. Tom Brady was in a broadcast booth with Kevin Burkhardt [[link removed]] during Sunday’s Saints-49ers preseason game to practice ahead of his Week 1 debut with Fox Sports. But Adam Amin and Mark Sanchez called the game for viewers, as Fox appears to be keeping Brady under wraps until the regular season. Editors’ Picks New Study Shows ‘Far-Reaching’ Financial Pain of Sports Gambling [[link removed]]by Margaret Fleming [[link removed]]For every dollar of sports betting, investments drop by $2, researchers say. Jake Paul Claims He’ll Make $40 Million Off Tyson Netflix Fight [[link removed]]by Alex Schiffer [[link removed]]Paul and Tyson are set to fight in Texas in November. Becky Hammon Stridently Denies Pregnancy Discrimination Claims: ‘Just Didn’t Happen’ [[link removed]]by Margaret Fleming [[link removed]]Dearica Hamby is suing the Aces, alleging discrimination and bullying. 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]], Colin Salao [[link removed]] Edited by Matthew Tabeek [[link removed]], Or Moyal [[link removed]], Catherine Chen [[link removed]]

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