February 7, 2022

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How important are Olympic gold medals to participating countries and territories? Very. At least 12 countries will pay six-figure bonuses to Olympians for gold. Hong Kong ($642K), Turkey ($383K), and Malaysia ($238K) top the list.

Amazon, Nike Consider Bids to Buy Peloton

Peloton/Design: Alex Brooks

Peloton’s controversial year and underwhelming sales have made it a takeover target and the at-home fitness giant is drawing interest from potential buyers, including two giants — Amazon and Nike.

Last month, Peloton shareholder Blackwells Capital called [[link removed]] for the removal of the company’s CEO, chairman, and co-founder John Foley over concerns about the company’s performance. Blackwells Capital also suggested that Peloton’s board of directors consider a sale.

Despite the challenges, a Peloton sale stands to be significant. Peloton has a market cap of $8.94 billion — a drastic decline [[link removed]] from a company-high market cap of $44.38 billion in 2020.

Now, Peloton’s business has piqued [[link removed]] the interest of Nike and Amazon, but no deal is imminent.

Peloton’s potential sale follows a tumultuous year for the New York-based company.

It reportedly [[link removed]] lowered its projected apparel revenue for fiscal 2022 from $200 million to $150 million due to supply chain issues and other “macro factors.”The company posted a net loss of $376 million in fiscal Q1 compared to a net income of $69.3 million for the same period the year prior. Shareholders have lost nearly $40 billion in wealth; Foley has pocketed more than $115 million from selling stock.

Peloton shares rose [[link removed]] more than 30% in extended trading Friday after news of a potential sale circulated.

Changes Coming

Peloton recently hired McKinsey & Co. to evaluate [[link removed]] its cost structure and potentially eliminate jobs.

The company has discussed closing 15 of its 123 retail locations and announced added delivery and setup costs, citing inflation.

Most Expensive Super Bowl Ticket Tops $70K

Kirby Lee-USA TODAY/Design: Alex Brooks

This year’s Super Bowl in Los Angeles will feature a glitzy new stadium, a team playing on its home field, and no COVID-19 capacity restrictions. It will also feature ticket prices on par with some of the highest in recent Super Bowl history.

The average price of a ticket was a whopping $9,648 on Friday, according to SeatGeek [[link removed]]’s ticket tracker.

The most expensive ticket topped $70,891, per SeatGeek.On Friday, Ticketmaster was touting VIP seats that cost $60,000 without fees.Even the cheapest seats have been hovering around $5,000, per [[link removed]] KTLA — fans purchasing from Ticketmaster would have to shell out at least $4,800, not including fees, as of Friday.

A trip to SoFi Stadium might become more affordable as the Super Bowl nears, however. “Prices generally tend to fall as kickoff approaches,” according to SeatGeek’s tracker.

Comparing Numbers

This year’s average ticket prices are higher than the past few years, according [[link removed]] to NBC.

The average ticket for the 2021 Super Bowl in Tampa Bay went for $8,609, while the price for the 2020 Super Bowl in Miami was $7,172.

SoFi is “the crown jewel of NFL stadiums,” said [[link removed]] A.G. Spanos, the Los Angeles Chargers’ president of business operations. Now, the stadium has the ticket prices to match.

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UEFA Competition Rights Deal Could Net $4B Annually

UEFA Champions League/Design: Alex Brooks

The bidding war over UEFA’s competition media rights — including the Champions League, a crown jewel of broadcasting rights — is now over.

TEAM Marketing, which already works with UEFA, won global rights, while the Stephen Ross-backed company Relevant Sports Group nabbed U.S. rights, according [[link removed]] to The New York Times.

In total, the rights could be worth more than $4 billion every year, per [[link removed]] Sportico.Relevant Sports reportedly guaranteed a minimum of $250 million, while UEFA’s rivals deliver about $150 million.

The deal marks Relevant Sports Group’s inaugural dance with UEFA — but it’s not the company’s first foray into the soccer world.

The company inked a 15-year partnership with La Liga in 2018 and eventually got the league around $2 billion in rights from ESPN as well as Mexican and Central American broadcasters.

Bouncing Back

For UEFA, the deal couldn’t come at a better time.

During the fiscal year ending in 2021, European clubs lost $5 billion in pandemic-related losses, according [[link removed]] to a UEFA report. Including 2019-20, the tally could reach $7.9 billion.

Media rights revenue was a saving grace — and from the looks of these deals, it will continue to be.

NHL Execs Ice Cold On Coyotes’ Arena Plans

Joe Camporeale-USA TODAY Sports/Design: Alex Brooks

The NHL’s Arizona Coyotes revealed potential plans to play at Arizona State University’s rink for the next few seasons, but executives around the league are reportedly concerned, some even labeling the situation a “nightmare” and “embarrassing.”

With a seating capacity of 5,000, the facility is roughly three times smaller than the average [[link removed]] NHL arena. Executives told [[link removed]] The Athletic that playing at a smaller arena could affect player salaries, escrow, and teams’ bottom lines.

The average [[link removed].] revenue for an NHL team was $140.9 million during the 2019-20 season.

For now, Coyotes have to be out of Glendale’s Gila River Arena by June 30.

In August, Glendale said [[link removed](3TV/CBS,upcoming%202021-2022%20season%20ends.&text=%22The%20decision%20to%20not%20renew,City%20Manager%20Kevin%20Phelps%20said.] it would not renew its lease due to financial obligations that were not met.In September, the Coyotes unveiled their $1.7 billion arena proposal [[link removed]], calling for roughly $200 million from taxpayers.The team paid all of its delinquent city and state taxes — around $1.3 million — in December, avoiding [[link removed]] eviction.PHNX Sports reported the Tempe City Council was leaning against the venue, and one organization is calling on [[link removed]] residents to voice their disapproval to the council.

One NHL executive said he wouldn’t be surprised if the owners were forced to move or sell.

Far From Ideal

Another potential issue with playing at ASU is the Coyotes would have to abide by NCAA rules, which would leave locker rooms, training facilities, and workout areas out of the equation.

Morgan was told [[link removed]] that the additional areas would cost $15 million to $20 million, which would have to come straight from owner Alex Meruelo.

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Conversation Starters An executive at the Boston Red Sox sports channel NESN has been charged [[link removed]] with allegedly embezzling more than $500,000 through a sham company. He could face 20 years in prison if convicted. GameStop is launching [[link removed]] a $100 million joint fund with layer-2 scaling platform Immutable X for gaming NFTs. Boxers Katie Taylor and Amanda Serrano will earn [[link removed]] seven-figure paychecks from their fight at Madison Square Garden on April 30, according to their promoters. iFit Health & Fitness has filed [[link removed]] a U.S. trade complaint against Peloton, aiming to block imports of the company’s stationary bikes for infringing a bike/weight patent. iFit makes NordicTrack. Today's Action

NHL

07:00 PM

Hurricanes (+115) at Maple Leafs (-135)

Bet Now [[link removed]]

NHL

07:00 PM

Devils (+100) at Senators (-120)

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

When flying, which type of ticket do you typically purchase?

Economy [[link removed]] Premium Economy [[link removed]] Business [[link removed]] First Class [[link removed]]

Friday’s Answer

57% of respondents are currently interested in pursuing professional development opportunities.

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

MORE FROM FOS:

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

Front Office Sports Insights [[link removed]] - The most promising opportunities where sports meets industry

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