November 8, 2021

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Coaching can be a tough business. It’s also a costly one. From Jan. 1, 2010 to Jan. 31, 2021, FBS schools paid more than $533.6 million in dead money to head coaches who are out of a job and owed money.

Planet Fitness Brings In Record Franchise Revenue

John Heider-Imagn/Design: John Regula

Planet Fitness surpassed third-quarter estimates [[link removed]] by 13.62%, reaching $154.26 million in revenue compared to $105.38 million the year prior.

The national gym chain recorded [[link removed]] a net income of $18.6 million, up from a $3.3 million loss during the same period last year.

Planet Fitness “returned to positive system-wide same-store sales growth,” marking a number of records for the company.

It gained the highest net member growth ever in the history of the company’s third quarters. CEO Chris Rondeau said [[link removed]] the gym has 15 million members.Quarterly revenue was the highest it has ever been for the franchise segment, increasing 26.1% year-over-year to $75.4 million.Corporate-owned gyms saw revenue jump 55.2% year-over-year to $43.9 million, mostly due to temporary COVID-related closures last year.The equipment segment grew 101.7% from last year to $35 million.

The company opened 24 new gyms during the quarter, totaling 2,193, and expects to open 110-120 new facilities by the end of the year.

Planet Fitness also raised its full-year outlook, estimating revenue will reach between $570 million and $580 million. The gym went public [[link removed]] via an IPO in 2015 at a valuation of $1.58 billion and now has a market cap [[link removed]] of $7.77 billion.

Univision Revenue Up 20% as Televisa Merger Nears

Ken Wolter-Shutterstock/Design: John Regula

Univision’s third-quarter revenue was up 20.3% to $754.7 million — a notable bump from $627.6 million in the prior year’s Q3.

The leading Spanish-language content and media company in the U.S. saw ad revenue jump [[link removed]] 32.5% year-over-year to $442.7 million, up 15.6% from the same period in 2019.

Univision broadcasts Copa America, the Mexican League, Copa MX, Liga MX, and has partnerships with NFL and MLB teams. It signed a five-year deal [[link removed]] with mixed martial arts franchise Combate Americas in March.

The media giant has even more content lined up.

In April, Univision announced [[link removed]] plans to create the largest Spanish-language media company in the world by merging with Televisa in a $4.8 billion deal. Univision and Televisa’s sports divisions merged in 2019.In June, the company unveiled plans [[link removed]] for a Spanish-focused streaming service with expanded sports offerings, set to launch in 2022.

The company’s subscription and licensing revenue increased by $10.4 million, reaching $278 million for the third quarter of 2021 compared to $267.6 million in the same period a year prior.

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Record Premier League Crowds Generate Nearly $1M on Match Days

Chelsea F.C./Design: John Regula

Premier League fans are coming back in record [[link removed]] numbers after 16 months of not being able to attend games.

Matches are averaging 39,440 fans each so far — per data from transfermarkt.com — bringing in close to $955 million in match-day income, according to Kieran Maguire, lecturer of football finance at Liverpool University.

The attendance numbers could be a record for the league’s 30-year history if those crowd sizes are maintained throughout the season — each match is 95% full on average.

Amex Stadium, home to Brighton & Hove Albion, increased its seating by 1,250 seats, totaling 32,000.All corporate membership areas for Amex Stadium are sold for the next five years.

Top leagues in other European countries haven’t been so lucky, with Spain’s La Liga only drawing in an average of 16,872 fans compared to the 26,811 it brought in before the pandemic forced shutdowns.

Clubs are also calling on the Premier League to form [[link removed]] a lending pool between $1.36 billion and $2.04 billion so they can borrow at cheaper rates than they do from banks and investment funds.

The league’s teams lost around $2.73 billion total during the pandemic, holding almost $5.4 billion in net debt by the end of the 2019-2020 season.

Cadillac Returns to Le Mans in 2023 After 20-Year Hiatus

Chris Mikalauskas-Cadillac/Design: John Regula

Cadillac will bring its storied history in racing to the 24 Hours of Le Mans in 2023 — for the first [[link removed]] time in 20 years.

The historic race will see Cadillac compete in the LMDh (Le Mans Daytona h) category, a hypercar class that demands a clean-energy output.

LMDh vehicles are intended to resemble prototypes of future models, so manufacturers can showcase and test their concepts.

The class has made recent regulatory changes designed to create more parity among racers, providing tight controls on downforce, drag, and engine power.

The changes are attracting some of the more recognizable auto manufacturers.

Peugeot said it would enter the hypercar category in 2022.In April, Ferrari announced it will join [[link removed]] the classification in 2023.Acura, Toyota, Porsche, and Audi have already established a presence.

General Motors, the parent company of Cadillac, generated $26.78 billion in revenue in Q3 2021, surpassing Wall Street estimates of $26.51 billion in revenue.

However, the carmaker’s third-quarter revenue was still down 25% compared to the $35.5 billion it generated in Q3 2020.

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Conversation Starters Mark Shearer, the Las Vegas Raiders’ senior vice president and chief revenue officer, is leaving [[link removed]] the team after more than 22 years of service. Shearer is the fifth executive to leave the Raiders front office since July. Sports analytics and technology company Kitman Labs raised [[link removed]] $52 million in a Series C funding round. The round was led by Guggenheim Investments. Los Angeles-based Mythical Games raised [[link removed]] $150 million at a $1.25 billion valuation as it prepares to debut its NFT gaming platform. The historic Buckminster hotel in Boston — where the “Black Sox” allegedly conspired to throw the 1919 World Series — has been acquired [[link removed]] by laboratory space developer IQHQ. Today's Action

NHL

07:00 PM

Sabres (+210) at Capitals (-265)

Bet Now [[link removed]]

NBA

09:10 PM

Heat (-140) at Nuggets (+120)

Bet Now [[link removed]]

NFL

08:15 PM

Bears (+240) at Steelers (-305)

Bet Now [[link removed]]

*All times are EST unless otherwise noted.

*Odds/lines subject to change. T&Cs apply. See [[link removed]] for details.

Question Of The Day

Have you ever worked out at Planet Fitness?

Yes [[link removed]] No [[link removed]]

Friday’s Answer

37% of respondents have worked out with Peloton equipment.

Written by Abigail Gentrup [[link removed]], Justin Byers [[link removed]]

MORE FROM FOS:

Front Office Sports College [[link removed]] - Business of College Sports Newsletter

Sports Section [[link removed]] - Daily Sports Newsletter

The Leadoff [[link removed]] - Daily Business of Sports Podcast

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