For the past 10 years, Pepsi has owned the title rights to one of the Super Bowl’s major financial assets: the halftime show. But as the contract expires, the NFL is reportedly looking to land a new sponsor.

The halftime show is one of the most-watched parts of the Super Bowl’s programming — so it makes sense that the price tag to sponsor it is hefty. The rights could go for between $40 million to $50 million annually, per Sports Business Journal.

Potential buyers could be in the “tech/media” space.

• One example provided was Amazon, which has made major forays into the sports world recently.
• Verizon, which also owned a piece of this year’s halftime show rights, could be up next as a title sponsor.

Pepsi’s NFL Future

If Pepsi loses the halftime show, it won’t be the end of its storied relationship with the NFL. The two sides will certainly reach another type of agreement, according to SBJ.

Pepsi’s previous deal with the NFL, signed in 2012, was valued at about $2.3 billion all told — but that includes much more than just the halftime show.

Before Pepsi, Bridgestone was the show’s sponsor and paid up to $10 million annually.

Like a character in a noir film, Phil Mickelson is playing both sides in a heightened drama.

The golf legend has been in negotiations with the Saudi-backed Super Golf League on its upstart rival to the PGA Tour. Details from an upcoming book by Alan Shipnuck delve into his work behind the scenes.

• Mickelson said he helped recruit three “top players” to the new league, and that they paid attorneys to write the operating agreement with the Super Golf League.
• Bryson DeChambeau is reportedly headed to the new league.
• The league could announce its launch during Players Championship week — March 10-13 — a PGA Tour flagship event.

Lefty’s Angle

Despite his extensive involvement with the Super Golf League, Mickelson said his real target is the PGA Tour.

“This is a once-in-a-lifetime opportunity to reshape how the PGA Tour operates,” he said. “They’ve been able to get by with manipulative, coercive, strong-arm tactics because we, the players, had no recourse.”

He added that “the Saudi money has finally given us that leverage” to pressure PGA Tour commissioner Jay Monahan into making changes.

Meanwhile, Rory McIlroy, one of a handful of top golfers who openly oppose the Super Golf League, blasted Mickelson’s comments Sunday, calling them “naive, selfish, egotistical, ignorant.”

Since the start of the year, video game companies have made a flurry of acquisitions.

Last week, French video game publisher Nacon acquired Daedalic Entertainment, the developer behind “The Whispered World” and “Deponia,” in a deal valued at $60 million.

A day later, software and venture firm Animoca Brands — an NBA Top Shot investor recently valued at $5.4 billion — acquired motorsport game developer Grease Monkey Games for an undisclosed amount.

The industry’s headline-making acquisitions keep coming.

• In January, Microsoft announced plans to acquire Activision Blizzard for $68.7 billion.
• Sony agreed to buy Bungie, the original “Halo” creator, for $3.6 billion that same month.

Microsoft’s deal for Activision would make the tech giant the third-largest gaming company in the world by revenue.

Expanding Reach

Daedalic Entertainment and Grease Monkey Games present unique opportunities for their new owners.

Daedalic is developing “Lord of the Rings: Gollum,” which is likely to attract a slew of new users who are fans of the book and movie series. Meanwhile, Grease Monkey Games has partnerships with Nissan, Toyota, Ford, and BMW.

Complications stemming from last year’s round of conference realignment are beginning to materialize. Conference USA could face a major legal battle with three of its outgoing schools.

It all started last fall, when Marshall, Old Dominion, and Southern Miss announced they’d accepted bids to join the Sun Belt Conference and leave Conference USA.

Beginning in December, the schools had attempted to negotiate an “amicable” split after the 2022 season, per a Southern Miss statement. On Feb. 11, the schools confirmed publicly they would leave on June 30.

The schools are obligated to pay $3 million each in exit fees, which they have agreed to do, according to Sports Illustrated. The problem? Conference USA’s bylaws reportedly state that schools must give 14 months notice before they depart.

In response, Conference USA released a schedule for 2022-23 with the three schools on it, along with a threat: It will “exhaust all necessary legal actions to ensure all members meet their contractual obligations.”

Media Rights Battle

Maintaining media rights revenue may be a motivating factor for engaging in what could be an expensive fight.

• Conference USA has a television deal with CBS that expires after the 2022-23 season.
• It reported about $6.4 million in total television and marketing revenue on 2019 tax returns.

The conference will also lose six other schools to the American Athletic Conference, likely by the 2023-24 season.