Read in Browser [[link removed]]

Morning Edition

November 20, 2024

POWERED BY

Good morning. The Rays’ future in the Tampa Bay area was already uncertain, but Tuesday’s decision by the Pinellas County commission to delay a vote on funding for their new ballpark has thrown it into further doubt. If the funding falls through, the Rays face an unsettling reality: their days in Tampa may be numbered.

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

Rays Tampa Future in Doubt as County Commission Delays Bond Vote [[link removed]]

Tampa Bay Rays

The Rays’ days in the Tampa area could now be numbered after the Pinellas County, Fla., county commissioner on Tuesday delayed for a second time a vote to issue previously approved bonds as part of a planned $1.3 ballpark.

A deal struck last July [[link removed]] called for the county to supply $312.5 million in tourist tax dollars toward the stadium. But catastrophic hurricane damage to Tropicana Field [[link removed]], as well as the greater Tampa area, and the recent commission election of opponents to the ballpark deal [[link removed]], changed the dynamic surrounding the Rays substantially. So when it comes to issuing the bonds to fulfill that prior pledge, significant questions persist, and the commission members voted by a 6-1 margin to give themselves more time to review the funding.

That vote follows a prior vote, by the same margin, last month to delay the bond issuance. During the often-tense public meeting, commission members even suggested that Rays owner Stu Sternberg could be looking for a way to exit the stadium deal and pin the blame on the county.

“They are not great partners,” commission member Rene Flowers said of the Rays. “I think they want to take their toys and go back home.”

The bond issue will now be revisited on Dec. 17.

The Rays will be playing the 2025 season at George M. Steinbrenner Field in Tampa [[link removed]], where the Yankees hold their spring training. But the Rays’ future beyond that is increasingly uncertain.

Strong Words

Prior to the commission hearing, the Rays sent a lengthy letter to the county officials, laying out that the original 2028 target to open the ballpark is already gone because of the initial move to delay the bond issuance. Preliminary stadium work has been suspended, and the project’s price tag is now rising because of it, the club said. The Rays are responsible for all costs beyond the $600 million total contribution from the public sector, including overruns.

“A 2029 ballpark delivery would result in significantly higher costs that we are not able to absorb alone,” team presidents Matt Silverman and Brian Auld wrote. “[The] enormous investment of human and financial capital has been jeopardized by the county’s failure to live up to its July agreement.”

But if the goal of the letter was to facilitate a deal, it largely backfired, as instead, the tone of the commission proceedings darkened considerably.

“The idea of rushing this deal concerns me,” said county commissioner Dave Eggers. “I am not going to feel rushed by statements that were made by the Rays.”

Will NBA Flex Last-Place Sixers From National TV Games? [[link removed]]

Sam Navarro-Imagn Images

The season has not started well in Philadelphia: The Sixers are tied for the NBA’s worst record at 2–11.

The abysmal start prompted a team meeting Monday night following a loss to the Heat, according to ESPN, during which Tyrese Maxey even called out 2023 MVP Joel Embiid for consistently being late to team activities [[link removed]]. Embiid has played in just three games so far this season after dealing with injuries and a three-game suspension to start the year [[link removed]].

Before this season, the Sixers were projected to challenge the Celtics and Knicks at the top of the Eastern Conference after adding nine-time All-Star Paul George in the offseason. Maxey was coming off a Most Improved Player campaign, and the alarm bells hadn’t rung about Embiid’s injuries. The team was projected to win around 50 games [[link removed]].

It’s no surprise why the NBA and its broadcast partners decided to feature Philadelphia in 21 nationally televised games (not including NBA TV), the seventh most in the league. That included an opening-week matchup against the Bucks when both George and Embiid were out, which averaged 1.71 million viewers, down about 33% from last year’s comparable window that featured the Knicks and Celtics.

Flexing Off the Sixers

It’s possible the Sixers recover and make a playoff push—we’re only 20% of the way into the season. But the NBA and its partners may begin considering flexing the Sixers out of primetime games.

The NBA has flexed some games already this season, when they announced on Nov. 13 three different changes, including swapping a Nov. 22 game on ESPN between the Bucks and Pacers—both of whom have underperformed to start the season—with a Pelicans game against the Warriors, who have started strong and have notable viewership draw Steph Curry [[link removed]].

The league’s rules about flexing games are not as clear as the NFL’s, where most games require at least 12 days’ notice before flexing [[link removed]]. This lead time is important for the league’s partners, who need to adjust their coverage plans.

Fortunately for the NBA, the Sixers will not play their next nationally televised game until Christmas when they visit the Celtics. It’s unlikely the league will change its Christmas Day schedule, but many of Philadelphia’s remaining national TV games will be in January.

There’s a case to keep the Sixers on TV, especially if George and Embiid begin to play as expected. Both are averaging well below their career points per game averages, and shooting below 40% from the field.

But there’s also the risk of Embiid simply resting during key games, particularly on back-to-backs [[link removed]]. The Sixers have already been fined $100,000 by the league [[link removed]] for violating a player participation policy when Embiid sat out of their home opener. The Sixers have two more national TV games during a back-to-back stretch: Jan. 2 against the Warriors on TV and Jan. 15 against the Knicks on ESPN.

SPONSORED BY INVESCO QQQ

A Football Field’s Worth of Innovation

Innovation is changing the game [[link removed]], on and off the field.

Our roster is made up of the most innovative companies in the Nasdaq-100 Index®. With Invesco QQQ ETF [[link removed]], you can harness the growth potential of groundbreaking companies across sectors including telecommunications, consumer discretionary, health care, industrials, and tech. An investment in Invesco QQQ is an investment in innovation.

The future is all around you. Access it with Invesco QQQ. Let’s rethink [[link removed]] possibility.*

LPGA’s Richest Season Ever Set to Crown a Record-Breaker [[link removed]]

Nathan Ray Seebeck-Imagn Images

The LPGA Tour’s richest season yet is set to conclude this week with someone finally breaking Lorena Ochoa’s 17-year-old record for prize money won in a single season.

Whoever wins this week’s CME Group Tour Championship will surpass the $4,364,994 that Ochoa earned in 2007 when she won eight tournaments, including the Women’s British Open.

That’s because this week’s first-place prize is a record $4 million (double last year’s payout), and all 60 golfers in the field have already won enough money this season that the winner’s check would vault them over Ochoa. Linnea Strom’s $540,968 is the lowest prize money total coming in.

Ochoa’s record wasn’t closely contested until 2022, when Lydia Ko fell $591 short, winning $4,364,403 on tour that year. On Sunday, Nelly Korda added to her landmark year [[link removed]] by becoming just the third golfer to win more than $4 million in one season, following her seventh victory of 2024 at The Annika driven by Gainbridge at Pelican (after a highly watched practice round with Caitlin Clark [[link removed]]), which brought her total to $4,164,430.

Even if Korda doesn’t win this week, she can surpass Ochoa’s mark with a top-five finish, and could still end up with the single-season record, depending on who wins the tournament. Second place pays out $1 million, third $550,000, fourth $350,000, and fifth $260,000. Eight other golfers have already won more than $2 million this season, and 21 others over $1 million.

Overall, the LPGA Tour’s total prize money in 2024 amounts to a record $125.95 million, up from $101.4 million in 2023.

“It’s a really big topic,” No. 7–ranked Jeeno Thitikul said in an interview with Front Office Sports. Thitikul won this season’s Aon Risk Reward Challenge, which earned her a $1 million bonus, in addition to the $2.1 million she earned in tournament prize money. “It’s really nice for us to have [a lot of] support because we’re trying to make the tour bigger,” Thitikul said.

The purse for the Tour Championship, which tees off Thursday at Tiburón Golf Club in Naples, Fla., is $11 million (a $4 million increase from 2023 [[link removed]]), which is second only to the $12 million handed out at the U.S. Women’s Open [[link removed]] this year.

Rafael Nadal Bids Farewell to Tennis at Davis Cup [[link removed]]

Susan Mullane-Imagn Images

Rafael Nadal took the court Tuesday at the Davis Cup, his first match since getting knocked out by Novak Djokovic in the second round of the Paris Olympics in July.

It also ended up being the final match of his illustrious 23-year tennis career as Spain was eliminated in the quarterfinals of the Davis Cup. The 38-year-old announced last month that he would retire from tennis after the tournament [[link removed]].

Nadal lost to Botic van de Zandschulp, which snapped a 32-match winning streak for him at the Davis Cup. Spain stayed alive after Carlos Alcaraz defeated Tallon Griekspoor, but the Dutch duo of Wesley Koolhof and van de Zandschulp prevailed over Marcel Granollers and Alcaraz in the decisive doubles match to eliminate Nadal and the host nation.

Despite the loss, Nadal’s participation in the Davis Cup should mean he will clear $135 million in career earnings, assuming an equal split among the five members of Spain’s team. Each quarterfinal team will earn $535,714, which comes out to about $107,000 per member. Nadal had made $134.95 million entering the tournament.

An All-Timer

Nadal will go down as one of the most successful athletes in all sports. He was a member of the legendary Big Three in men’s tennis, which also included Djokovic and Roger Federer. The three are the only men with at least 20 Grand Slam titles.

The Spaniard also holds the record for the most wins in a single Grand Slam with 14 in the French Open, which garnered him the nickname “King of Clay.”

Nadal also became an impactful influence off the court. From his endorsements, appearances, and other business endeavors, he’s estimated to have earned more than $415 million, according to Forbes [[link removed].], which is nearly three times as much as he’s earned as a tennis player.

Nadal has held his most notable deals for more than a decade. He signed an apparel deal with Nike in 2000, Babolat for his rackets in 2001, partnered with Kia in 2004, and added Richard Mille in 2010. He’s become the face of Nike tennis—his famous raging bull logo was released in 2013—especially after Federer left the Swoosh in 2018 for Uniqlo and On [[link removed]].

Alcaraz, the 21-year-old Spanish star who cites Nadal as his tennis inspiration, has also signed deals with many of Nadal’s partners, including Nike, Babolat, and Louis Vuitton.

FRONT OFFICE SPORTS EVENTS

From the Fairway to the Final Play

As the Big Game takes to the Big Easy this February, Front Office Sports and Excel Sports Management are partnering to gather the biggest names in sports, entertainment, and media for an unforgettable day out on the golf course on Friday, Feb. 7.

Excel Sports Management, the creators of “The Match” and The Netflix Cup, and Front Office Sports, will cohost The Breakfast Ball [[link removed]]—an ultra-high-end Celebrity Pro-Am golf tournament that will be a can’t-miss event for companies and brands looking to entertain in the lead-up to the game.

Learn more [[link removed]] about partnership opportunities or how to get involved.

Conversation Starters The Jets signed Aaron Rodgers to a deal with $75 million guaranteed last year, and they have won just three games with him as the starting quarterback [[link removed]]. Head coach Robert Saleh and GM Joe Douglas have both been fired this season. A large piece of metal fell from the roof at AT&T Stadium, close to where ESPN crews were shooting ahead of the Monday Night Football game between the Cowboys and Texans. Check it out [[link removed]]. FOS Explains took a look at the career of Pat McAfee, and how he went from getting arrested to becoming one of the biggest names in sports media. Watch it here [[link removed]]. Editors’ Picks Jets Clean House With Only Aaron Rodgers Remaining [[link removed]]by Dennis Young [[link removed]]Joe Douglas’s firing wasn’t a surprise, but the timing was. NFL Says There’s ‘No Issue’ With Players Doing ‘Trump Dance’ [[link removed]]by Michael McCarthy [[link removed]]Soccer star Christian Pulisic joined many NFL players in doing the dance on Monday. Michele Kang Drops Whopping $30 Million on U.S. Soccer [[link removed]]by Margaret Fleming [[link removed]]It’s the largest gift to the federation focused on girls and women. Question of the Day

Should the NBA be more aggressive about flexing underwhelming games out of national broadcast windows?

YES [[link removed]] NO [[link removed]]

Tuesday’s result: 26% of respondents think public funding for a new Rays stadium will be supported in Tuesday’s hearing.

DISCLAIMER

*NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

There are risks involved with investing in ETFs, including possible loss of money. ETFs are subject to risks similar to those of stocks. Investments focus in a particular sector, such as technology, are subject to greater risks and are more greatly impacted by market volatility, than more diversified investments.

The Nasdaq-100 Index® includes the 100 largest non-financial companies listed on the Nasdaq. An investment cannot be made directly into an index. NCAA is a trademark of the National Collegiate Athletics Association. Invesco is not affiliated with the NCAA.

Before investing, consider the Fund’s investment objectives, risks, charges and expenses. Visit invesco.com [[link removed]] for a prospectus with this information. Read it carefully before investing.

Invesco Distributors, Inc.

Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Events [[link removed]] Video [[link removed]] Podcast [[link removed]] Written by Eric Fisher [[link removed]], Colin Salao [[link removed]], David Rumsey [[link removed]] Edited by Matthew Tabeek [[link removed]], Or Moyal [[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