February 7, 2022

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Cristiano Ronaldo was the third-highest paid athlete in the world with $120 million in total earnings in 2021. But when it comes to Instagram followers Ronaldo is tops, becoming the first person in the world to reach 400 million followers.

New York Sports Betting Handles Record $1.6B In First Month

Danny Wild-USA TODAY Sports/Design: Alex Brooks

New York released numbers from its first month of legal sports betting, and the state’s official handle totaled more than $1.62 billion — topping the single-month record for any state.

The state set its record [[link removed]] in less than four weeks, as its mobile apps weren’t permitted to launch until Jan. 8. The first month’s total included six mobile sportsbooks, which recorded $113 million in revenue as of Jan. 30.

WynnBet launched as the state’s seventh mobile sportsbook on Friday, and BallyBet has not [[link removed]] yet launched.

New Jersey, which took three years to pass $1 billion handled in one month, held the previous record at $1.3 billion during the month of October.

New Jersey’s total includes retail and mobile sportsbooks.New York’s four upstate retail sportsbooks handled an additional $21 million, which totals nearly $1.65 billion including both brick-and-mortar and mobile sportsbooks. Sports Betting Empire State

New York collects 51% of the state’s sports betting revenue in taxes, and Gov. Kathy Hochul’s budget plan reportedly expects $357 million in FY2023 from the additional source. By 2026, it estimates $509 million.

“We are providing our state with a new revenue, educational, and addiction funding source,” Sen. Joseph Addabbo said. “It also can give us an indication of where we go from here, especially with the Super Bowl within our sights.”

UK, Ireland Pass on 2030 World Cup For Euro 2028 Bid

The FA/Design: Alex Brooks

When it comes to hosting global sporting events, bigger may not always be better.

On Monday, the football associations of England, Northern Ireland, Scotland, Wales, and the Republic of Ireland announced they would pursue a bid to host the men’s UEFA Euro 2028 — and won’t bid on the men’s 2030 FIFA World Cup.

The decision was based on the results of a feasibility study, which “included an analysis of the economic impact, the political football landscape, and likely costs of hosting major international tournaments,” the English Football Association announced.

The cost of putting on the event would be significantly lower than that of the World Cup, while offering similar returns, the study found. Numbers were not provided publicly.

A Growing Trend?

The FA’s decision is unsurprising given the gargantuan price tags of recent global sports events — and lack of revenue to compensate.

Qatar, for example, spent a total of $300 billion on city infrastructure and an expanded airport in anticipation of the World Cup, per [[link removed]] Bloomberg. The expected economic impact rounds out at just $20 billion.The Winter Olympics in Beijing may be costing China $38.5 billion, more than 10 times the amount the country previously reported, per [[link removed]] Business Insider.

The deadline [[link removed]] to confirm bids for the Euros is in March.

SPONSORED BY GRIN

Teaming Up on Influencer Marketing

Trifecta’s goal in working with GRIN [[link removed]] was to eliminate the need for dedicated bandwidth to manage their influencer programs. In addition, the company wanted to harness the power of its marketing relationships, easily curate user-generated content, and scale their influencer marketing program.

GRIN generated the reports [[link removed]] and workflow that allowed Trifecta’s leadership to take a birds-eye-view of the influencer marketing program’s performance.

Trifecta was able to engage in more direct social media interaction because of the employee time saved by GRIN. The company’s full-time Instagram manager is now free to nurture relationships on the platform, giving a human voice to the brand with engagement.

See how [[link removed]] GRIN’s software gave the Trifecta team the ability to manage authentic relationships [[link removed]] at scale and track the detailed metrics they needed.

Cubs, Sinclair Could Launch Streaming Service Over MLB Objections

Jon Durr-USA TODAY Sports/Design: Alex Brooks

With baseball’s media future in flux, the Chicago Cubs are reportedly exploring launching their own streaming service with major broadcaster Sinclair.

The two sides, which co-own Cubs broadcaster Marquee Sports, are looking [[link removed]] to charge $18 per month for the standalone service.

While many Major League Baseball teams have relied on Sinclair’s clutch of regional sports networks for local broadcasts, the league reportedly has concerns about the company as a long-term media partner.

MLB commissioner Rob Manfred is wary of Sinclair’s ability to produce a high-quality media product, given its balance sheet.

Sinclair held $12.8 billion in total assets at the end of the third quarter 2021, including $1.1 billion in cash and cash equivalents.Sinclair outbid MLB in August 2019, buying 21 regional sports networks from Disney at a $10.6 billion value.The networks were rebranded from Fox Sports to Bally Sports in March 2021.Sinclair’s Diamond Sports Group, a subsidiary it created to hold the regional sports network properties, holds $9 billion in debt, due in 2026. Baseball’s Streaming Future

MLB is hoping to launch its own streaming service in 2023. The league has offered out-of-market games through its MLB.TV streaming service since 2002.

Sinclair, meanwhile, is preparing to launch a streaming service centered on its regional sports networks, which hold rights to 14 MLB teams, 16 NBA teams, and 12 NHL teams.

A Cubs-focused service could create a precedent for MLB teams as they weigh their media options.

Conversation Starters In The Leadoff, Amazon and Nike consider bids to buy Peloton, the most expensive Super Bowl ticket tops $70,000, UEFA’s competition media rights could net $4 billion annually, and NHL executives are ice cold on the Arizona Coyotes’ arena plans. Click here to listen [[link removed]]. Nike has filed a trademark infringement suit [[link removed]] against sneaker resale platform StockX. The suit alleges StockX is minting NFTs that use Nike trademarks without approval and is selling them at inflated prices. The 2022 Winter Olympics saw viewership for the opening ceremony on NBC average 16 million viewers, a record low [[link removed]]. Viewership plummeted below the previous record low of 20.1 million in 1988. China’s national women’s soccer team has been rewarded [[link removed]] by Chinese companies with cash payouts totaling $3.6 million for their win in the AFC Women’s Asia Cup.

SPONSORED BY HIMS

A Better Sex Life Isn’t Hard

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Their FDA-approved erectile dysfunction [[link removed]] treatments are effective, discreet, and affordable (we’re talking up to 90% less than typical drugs like Viagra).

In fact, Hims is so sure they can help boost your sex life that they offer a “Get hard or get your money back” guarantee. Bet you won’t see one of those anywhere else.

A great sex life and a full wallet aren’t mutually exclusive. Start now [[link removed]] for only $4 per dose.

Market Movers

U.S. stocks were mixed on Monday. Here’s a look at how sports-related stocks performed:

RCI [[link removed]]

Rogers Communications Inc.

[[link removed]]

$51.30

[[link removed]]

+0.23%

[[link removed]] UA [[link removed]]

Under Armour Inc

[[link removed]]

$16.58

[[link removed]]

+0.42%

[[link removed]] ELY [[link removed]]

Callaway Golf Co.

[[link removed]]

$24.02

[[link removed]]

+0.59%

[[link removed]] PENN [[link removed]]

Penn National Gaming, Inc.

[[link removed]]

$46.79

[[link removed]]

+2.93%

[[link removed]] MTN [[link removed]]

Vail Resorts Inc.

[[link removed]]

$276.91

[[link removed]]

-0.31%

[[link removed]] SIRI [[link removed]]

Sirius XM Holdings Inc

[[link removed]]

$6.75

[[link removed]]

-0.44%

[[link removed]] (Note: All as of market close on 2/7/22) What to Watch

The Kansas Jayhawks (19-3) face the Texas Longhorns (17-6) on Monday at Frank Erwin Center.

How to Watch: 9 p.m. ET on ESPN

Betting Odds: Kansas -1.5 || ML -125 || O/U 131.5* ( Bet on DraftKings [[link removed]])

Pick: Expect the Jayhawks to embrace what should be a hostile environment. Take Kansas to cover.

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

Written by Abigail Gentrup [[link removed]], Amanda Christovich [[link removed]], Owen Poindexter [[link removed]]

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

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