March 18, 2022

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March Madness is back, and Nike is the brand you’ll see the most on the hardwood. Of the 68 teams that entered the men’s tournament, 39 of them will be wearing the Swoosh, with Under Armour (16) and Adidas (13) following.

Maryland Pitches Major Development to Keep Commanders

John McCreary-USA TODAY Sports/Design: John Regula

Maryland is interested in keeping the Washington Commanders — but won’t seek to match Virginia’s offer of $1.2 billion in public funding.

“We’re not going to get into a bidding war over them,” Maryland Gov. Larry Hogan said [[link removed]] on Tuesday.

The state is pitching [[link removed]] a new stadium and surrounding development at the site of their current home, FedEx Field, with hundreds of millions in public funds.

Maryland and Prince George’s County have proposed a new stadium as part of a development along a 5-mile corridor that would advance team president Jason Wright’s social justice goals [[link removed]].The proposal includes a practice facility, team headquarters, hotel, entertainment district, and community hub.The team currently owns the FedEx Field site in Prince George’s County, Maryland.

Testifying to state legislators Tuesday, Prince George’s County executive Angela Alsobrooks called for county residents to not be “left behind like we were in 1997, when a stadium opened with no infrastructure to sustain and no infrastructure to benefit the surrounding community.”

D.C. Still Possible?

While Maryland and Virginia can offer more in public funds, Washington, D.C., mayor Muriel Bowser has said she would like to bring the team back to the capital, which it left in 1997.

Rep. Eleanor Holmes Norton, who represents Washington, plans to introduce federal legislation to sell the RFK Stadium land where the team used to play to the city.

However, federal legislators may be getting cold feet due to sexual harassment allegations related to the Commanders and team owner Dan Snyder.

Fox Bet Struggles Amid Ownership Dispute and Poor Reach

Fox Super 6 & Gregory Fisher-USA TODAY Sports/Design: John Regula

Fox Corp.’s desire to be a leader in the U.S. sports betting market has hit a bump in the road as online sports betting platform Fox Bet struggles and faces an ownership dispute with its partner, FanDuel owner Flutter Entertainment.

Fox partnered with Flutter — the world’s largest listed gambling group — after Flutter bought The Stars Group, the online gambling company that created Fox Bet, for $6 billion in 2019.

Fox Bet has failed to gain traction in the U.S. betting market due to its poor reach and tech.

The app is only available in four states: Colorado, Michigan, Pennsylvania, and New Jersey. It has less than 1% of the U.S. online betting market outside Nevada (FanDuel has 40%).It is operating on an app that “hasn’t received the updates required to compete in the U.S.,” Wagers.com senior analyst Steven Ruddock told [[link removed]] Bloomberg.

The failure to expand has caused a rift between Fox and Flutter due to an inability to agree on a price to exercise Fox Bet’s option to purchase 18.6% of FanDuel at an $11.2 billion valuation.

Flutter bought a 37.2% stake in FanDuel from Fastball Holdings for the same value [[link removed]] in December 2020. FanDuel and Fox are set to go into arbitration in June to resolve the issue.

Bettor Business

Flutter reported a pre-tax loss of $383 million in 2021 behind efforts to curb gambling addiction but generated $8 billion in revenue in FY2021, a 37% increase year-over-year.

FanDuel pocketed $2 billion in revenue in FY2021, a 113% uptick compared to the year prior.

SPONSORED BY NIKE

How Nike is Moving Sport Forward With a Purpose

For 50 years, NIKE, Inc. has been moving sport forward with a purpose. And since 2002, the company has publicly shared its social and environmental impact.

Committed to bold and ambitious targets as a company, Nike believes in transparency and holding itself accountable to ensure progress.

In our next event [[link removed]], Moving Sport Forward With Purpose: Nike’s Impact on People, Planet, Play, Front Office Sports Editor-in-Chief, Ernest Baker speaks with Vanessa Garcia-Brito, VP of North America Communications at NIKE, Inc., to discuss the company’s FY21 Impact Report and hear how Nike is tracking against its 2025 targets focused on People, Planet and Play.

Sign up [[link removed]] for an email reminder before we go live on LinkedIn.

Players Capitalize on NIL During March Madness for First Time

James Snook-USA TODAY Sports/Design: John Regula

The NCAA Division I basketball tournaments are the biggest stage in college sports aside from the College Football Playoff.

Thanks to name, image, and likeness rules, athletes can monetize that stage for the first time — and already, men’s and women’s players have begun to capitalize.

Yahoo Sports inked a deal with Gonzaga’s Chet Holmgren and Duke’s Paolo Banchero to promote its men’s basketball bracket challenge.Official NCAA sponsors are participating: Dollar Shave Club made Gonzaga player Drew Timme — and his famous beard — a “chin-fluencer,” while Great Clips enlisted Stanford’s Cameron Brink to promote the brand.Wingstop partnered with 11 women who play the wing position. Bedding company Sheets & Giggles partnered with five male and female players who are the most “well-rested,” or have played the fewest minutes for their teams so far this year. Regular Season NIL

Before March Madness tipped off, college basketball players were already among the most coveted athletes for NIL, according [[link removed]] to data from Opendorse.

By the end of February, both men’s and women’s basketball ranked in the top three sports for NIL compensation. Women’s players earned 18.5% of total compensation, while men’s players earned 15%. Division I athletes made an average of $561.

Abercrombie & Fitch Stretches Into Activewear

Abercrombie & Fitch Management Co./Design: John Regula

As Abercrombie & Fitch reinvents its brand, the apparel company is jumping into activewear with a new sub-brand, YPB, which stands for “Your Personal Best.”

YPB, which includes [[link removed]] activewear and accessories for men and women, is a byproduct of research on models of all body types, as well as focus groups with fitness and lifestyle influencers and customers.

“They’re looking for fashion-forward activewear that actually performs, looks good, and combines quality with value,” global brand president Kristin Scott said.

Abercrombie & Fitch is the latest commerce company to launch its own activewear brand as more people work from home — activewear accounted for 40% of all online sales in 2020.

Last year, sporting goods store Academy Sports + Outdoors launched [[link removed]] its own women’s activewear collection, Freely, which expanded last month to include girls pieces, too. In March, Dick’s Sporting Goods unveiled VRST, a men’s activewear brand.Allbirds, known for its sustainable footwear, launched [[link removed]] its first sustainable activewear line in August. Foot Locker announced [[link removed]] LCKR, its first private apparel label since exiting the category three years ago.Target launched All In Motion in January 2020, which reached $1 billion in annual sales its first year.Peloton launched [[link removed]] Peloton Apparel in September, its own private activewear line. Active in the Market

Earlier this month, Abercrombie & Fitch’s full-year earnings [[link removed]] featured a 19% year-over-year increase in net sales to $3.7 billion, with digital net sales accounting for 47%, or $1.7 billion, of that number.

SPONSORED BY TICKETMASTER

Innovations in Ticketing to Meet the Modern Fan

Now more than ever before, fans are craving immersive experiences that offer once-in-a-lifetime opportunities. The fan landscape is evolving, and it’s up to teams, venues, and companies to grow with the next generation of fans.

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]]!

Conversation Starters The McLaren Formula 1 team and Google announced [[link removed]] a multiyear partnership ahead of the season-opening race in Bahrain this weekend. Real Madrid has announced [[link removed]] a multiyear deal with technology company Cisco, aiming to make Santiago Bernabéu “one of the most technologically advanced sporting arenas on the planet.” Nike launched [[link removed]] Nike Athlete Think Tank in partnership with 13 of the brand’s top female sponsored athletes in an effort to increase access for girls in sports. The process has led to $1.3 million in grants. PingPod, an autonomous Table-Tennis-On-Demand concept, has raised $10 million in a Series A funding round [[link removed]] led by Sequoia Heritage. Today's Action

NHL

08:07 PM

Bruins (-135) at Jets (+115)

Bet Now [[link removed]]

NBA

07:30 PM

Lakers (+270) at Raptors (-350)

Bet Now [[link removed]]

NHL

10:37 PM

Avalanche (-250) at Sharks (+210)

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

Are you interested in the new activewear from Abercrombie & Fitch?

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

Thursday’s Answer

35% of respondents have vacationed at a Vail resort.

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

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