March 15, 2022

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Baseball is back, but there could be significant changes on the horizon. Major League Baseball is testing pitch clocks, larger bases, “robo umps,” and anti-shift rules in the minor leagues, which could potentially lead to their use in the big leagues.

Men’s March Madness Sports Betting Could Hit At Least $3B

Kirby Lee-USA TODAY/Design: Alex Brooks

The NCAA Division I men’s basketball tournament tips off Tuesday, and it’s already shaping up to be a historic one — for sports betting, at least.

Legal sports betting in the U.S. for the tournament could reach — or perhaps surpass — $3 billion, according to at least two studies. A third group suggested [[link removed]] it could reach $10 billion.

The Big Dance often draws more betting activity than the Super Bowl, per [[link removed]] PlayUSA. But this year, it could notch three times the amount of Super Bowl bets — and break a betting record for U.S. sporting events.

Because of the tournament’s popularity and condensed schedule, it’s always a top sports betting event, PlayUSA.com analyst Eric Ramsey said.This year, sports betting is legal in several more U.S. states than it was last year — including record-breaking New York — and most states have little, if any, restrictions on college sports betting.“This year will easily shatter the record for the most bet-on event set last year,” Ramsey said.

About 45 million people will likely participate, according [[link removed]] to the American Gaming Association’s conducted with Morning Consult. They’ll place about 76% of bets outside bracket challenges — a significant uptick from last year.

New Industry Partnerships

The gambling industry was always considered taboo in college sports. Now, it’s infiltrated NCAA sports in more ways than one.

In addition to fans betting more on college sports, sports betting operators have partnered with high-profile athletic departments [[link removed]] and athletes [[link removed]]. Gambling watchdogs [[link removed]] have stepped in, too.

Todd Boehly, Rob Walton Emerge As Potential Broncos Bidders

Kirby Lee-USA TODAY Sports/Design: Alex Brooks

The Denver Broncos are up for sale, and the latest party to express interest in buying the team is Rob Walton, son of late Walmart founder Sam Walton.

Walton has an estimated net worth of $65.2 billion — a significant number compared to the expected sale price of $3.5 billion to $4 billion. A price tag higher than $3.3 billion would reportedly [[link removed]] be a record price for a sports franchise.

While Walton has the funds to buy the team on his own, other bidders are joining groups.

A group including former Broncos quarterbacks Peyton Manning and John Elway have expressed interest.Media mogul Byron Allen is reportedly [[link removed]] looking to put in a bid, which would make him the first Black majority owner of a franchise in the league.The same goes for the country’s richest Black man, Robert Smith, who has considered a bid. He’s estimated to be worth roughly $9 billion. Basketball, Baseball, Betting, Broncos

Another interested party [[link removed]] is Todd Boehly, part-owner of the Los Angeles Lakers, Sparks, Dodgers, and DraftKings. Boehly is also included [[link removed].] in a consortium looking to buy Chelsea FC.

The NFL announced [[link removed]] earlier this month that bids for the team are required to be fully capitalized, which would restrict buyers from raising money after an offer is made. The league also said it would allow $1 billion of acquisition debt.

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Elevating the Modern Fan Experience

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That’s why Front Office Sports has partnered with Ticketmaster to bring you our latest course – Modern Ticketing Essentials: Beyond the Ticket. This free online course [[link removed]] discusses the best ways to elevate the fan experience [[link removed]], including how to personalize the fan journey, implement data strategies, leverage NFTs and forge strong distribution partnerships.

This six-lesson course will help you learn how to evolve in order to attract and retain fans for years to come, from first-time event attendees to lifetime season ticket holders.

Upon completion, you’ll earn a verified digital certification badge to display on your LinkedIn profile. Register now [[link removed]]!

Formula 1 Close To Adding Five-Year Deal Worth $150M

Jerome Miron-USA TODAY Sports/Design: Alex Brooks

Software company Salesforce is reportedly close to securing a bumper deal with Liberty Media’s Formula 1.

The season’s opening race takes place in Bahrain this weekend, and the pair is hoping to finalize the deal — expected [[link removed]] to be $30 million annually for five years — before the race’s start. Salesforce would be included in Formula 1’s global sponsorship tier.

Formula 1 has brought in a flurry of sponsorships recently as the sport gains more popularity.

Earlier this month, F1 announced [[link removed]] a deal with Chinese technology company Lenovo. Financial terms were not disclosed.In June, F1 unveiled crypto.com as a global partner in a five-year deal [[link removed]] worth more than $100 million.In 2020, Saudi Aramco announced its own global partnership with Formula 1. The U.S. will host the Miami Grand Prix for the first time this year, adding to its race in Austin, Texas. Race to the Top

Formula 1’s fourth-quarter revenue increased [[link removed]] 62.3% to $787 million, with viewership reaching 1.55 billion last season. Revenue for the full year hit $2.14 billion.

The Liberty Media division terminated its broadcasting contract with Match TV in Russia, adding to the list of sports properties severing ties to the country after its invasion of Ukraine.

777 Partners Buys Controlling Stake in Belgian Soccer Club

Standard Liège/Design: Alex Brooks

777 Partners has acquired full ownership of Belgian top-flight soccer club Standard Liège, marking yet another investment in soccer for the Miami-based investment firm.

The firm has purchased a controlling stake in Standard from club president and energy entrepreneur Bruno Venanzi for an undisclosed amount. Before the global pandemic, Standard generated between $49 million and $55 million in revenue per year, according to [[link removed]] Bloomberg.

777 Partners has more than $3 billion in assets under management, with several high-profile investments in international soccer.

It owns a 15% stake in La Liga’s Sevilla FC, which is valued at $436.5 million.The firm purchased Genoa C.F.C. — Italy’s oldest [[link removed]] soccer team — for $175 million.It has agreed [[link removed]] to acquire a 70% stake in Brazilian soccer club Vasco de Gama for $138 million.

Venanzi’s sale to 777 Partners marks a historic moment in soccer, as Standard is now the first [[link removed]] Belgian team to be completely under foreign ownership and the 10th Belgian club with investors from outside the country.

Committed to Sports

Founded in 2015, 777 Partners has several sports-related investments outside of soccer clubs. In 2020, the firm invested $10 million in Fanatiz, a sports-focused OTT service, and acquired 1190 Sports, which manages sports media rights.

The firm owns a majority stake in the London Lions of the British Basketball League and is also an investor in ATA Football, a company devoted to elevating women’s soccer.

SPONSORED BY GEORGETOWN UNIVERSITY

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In this program, you’ll engage with industry practitioners from top organizations both inside and outside of the classroom. The program offers flexible options [[link removed]] to take classes online, on-campus, or through a combination of both.

Attend their webinar [[link removed]] on Monday, March 21 at 12 p.m. ET to learn more.

Conversation Starters ESPN will officially announce the hiring of Troy Aikman and Joe Buck from Fox Sports as early as Tuesday afternoon, sources told Front Office Sports [[link removed]]. Russian oligarch Valeriy Oyf is selling [[link removed]] his majority share in Vitesse Arnhem, one of the oldest professional soccer clubs in the Netherlands, following Russia’s invasion of Ukraine. Riot Games announced [[link removed]] the acquisition of a non-controlling stake in Fortiche Production, the producer behind “Arcane.” The guy who bought Tom Brady’s “last” touchdown ball is having a rough day [[link removed]]. Today's Action

NHL

10:37 PM

Avalanche (-190) at Kings (+160)

Bet Now [[link removed]]

NBA

07:00 PM

Nets (-490) at Magic (+360)

Bet Now [[link removed]]

NHL

10:37 PM

Panthers (-230) at Sharks (+195)

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

Do you plan to bet on any games in the March Madness tournament?

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

Monday’s Answer

57% of respondents are participating in a March Madness bracket contest.

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

MORE FROM FRONT OFFICE SPORTS:

The Leadoff [[link removed]] - Daily business of sports podcast

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

Front Office Sports Scoreboard [[link removed]] - The biggest stories in sports and the numbers behind them

*If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2357)(IL). Gambling problem? Call 1-800-GAMBLER (NJ/WV/PA/MI), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO), 1-800-BETS OFF (IA), 1-888-532-3500 (VA) or call/text TN REDLINE 1-800-889-9789 (TN). 21+. NJ/PA/WV/IN/IA/CO/IL/TN/MI/VA only. Odds and lines subject to change. Eligibility restrictions apply.” See [[link removed]] for details.

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