March 23, 2022

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World No. 1 Ashleigh Barty announced her retirement from tennis on Instagram, less than two months after winning her third Grand Slam singles title. The 25-year-old is the second woman to retire at the top of the rankings — the first was Justine Henin in 2008.

NFL to Launch Virtual Reality Game

StatusPro/Design: Alex Brooks

The NFL is linking up with athlete-founded startup StatusPRO to produce a VR game intended to emulate the player experience.

The game will be available on Meta Quest and PlayStation VR, the companies said [[link removed]] on Wednesday.

“We’re democratizing what it’s like to be your favorite athlete,” co-founder and former NFL wide receiver Andrew Hawkins told Front Office Sports. “We want to put you in the shoes of something that you have only been able to experience on TV.”

StatusPRO raised a $5.2 million seed round in August, led by KB Partners and TitletownTech. 49ers Enterprises, SC.Holdings, Haslam Sports Group, Verizon Ventures, and Greycroft joined the round.Naomi Osaka, LeBron James, Maverick Carter, Paul Wachter, Drake, and Jimmy Iovine also invested in the company.The StatusPRO team is around 36 people at present, including consultants, but the founders plan to raise money to push that number “north of 100” by the end of the year.

“Authenticity is what we want to drive,” StatusPRO co-founder and collegiate athlete Troy Jones told Front Office Sports. “There are so many different elements that we want to capture and get into the product.”

Virtual Growth

StatusPRO got its start using player-tracking data to help NFL teams prepare for games. The company currently works with six NFL teams.

The gaming side of the company leverages much of the same data and technology to produce a VR experience – a selling point for the company in discussions with Meta and Sony.

Editor’s note: SC.Holdings is an FOS investor.

March Madness Early Rounds Generate $165M in Brand Exposure

Jim Dedmon-USA TODAY/Design: Alex Brooks

In just the first week of March Madness, brands have already received millions of dollars worth of exposure — and that’s not including commercials.

Between the men’s and women’s tournaments, companies received more than $165 million worth of “equivalent media value,” according [[link removed]] to a study by Elevate Sports Ventures and Hive.

That’s already just a few million shy of what Super Bowl LVI generated [[link removed]] — significant considering the study was only conducted through Sunday and hasn’t yet counted Monday’s women’s games or the rest of the two tournaments.

NCAA official corporate partners and team apparel brands received the lion’s share of exposure.

Nike earned more than other apparel brands, outfitting 69 of 134 teams.NCAA partners received 38% of men’s tournament exposure and 30% of women’s.

The study found that the men’s tournament exposure had more value, but the women’s tournament offered more time — it averaged almost 20% more minutes of exposure during games.

Behind the Rim

One of the most valuable placements, according to the study, was the basket stanchion arm. Spalding, which had a spot there in both tournaments, earned more exposure time than any other brand.

State Farm and several other brands also got value from similar placement at the women’s tournament.

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Tencent Revenue Grows At Slowest Pace Ever

Tencent/Design: Alex Brooks

Tencent reported fourth-quarter revenue of $22.62 billion, an 8% increase from the same period last year — the slowest revenue growth for the world’s largest video game developer since 2004, the year it went public.

Profit “attributable to equity holders of the company” increased 60% year-over-year to roughly $14.9 billion, beating analysts’ estimates of around $4.8 billion.

The technology giant also had its slowest-ever annual growth due in part to Beijing’s new regulatory gaming restrictions, with revenue [[link removed]] increasing 16% from 2020 to roughly $87.9 billion.

Tencent’s online games segment has been the company’s largest revenue driver, but domestic regulations enforced last year slashed the amount of time children under 18 could play each day. The company said [[link removed]] total time minors spent on its games fell 88%.

The company has yet to release a game since July — each title needs regulatory approval by authorities.Thanks to previous titles such as “Honor of Kings” and “Call of Duty Mobile,” domestic games revenue increased 1% to around $4.6 billion, while international games revenue jumped 34% year-over-year to around $2.1 billion. The Whole Picture

The company’s fintech and businesses services division, which includes its WeChat Pay business and cloud computing unit, increased 25% year-over-year. Advertising revenue for Tencent has also been affected by Beijing’s regulations, falling 13% year-over-year to roughly $3.4 billion.

CNBC reported that Tencent has lost roughly $470 million in market value since its peak last year.

Conversation Starters In The Leadoff, the NFL opens the door to blockchain deals, Manchester City was the top-earning soccer club in the world last season, Angel Stadium moves closer to being sold, and Sony acquires another gaming studio. Click here to listen [[link removed]]. The Ricketts family, which owns the Chicago Clubs, will travel to London to meet [[link removed]] with Chelsea FC fan groups to try to quell allegations of Islamophobia after leaked emails from Joe Ricketts contained anti-Muslim comments. Less than a week after Davante Adams became a Las Vegas Raider — and the NFL’s highest-paid WR — the Miami Dolphins one-upped Vegas with their own blockbuster trade. The Dolphins shook up the AFC East by acquiring six-time Pro Bowl wide receiver Tyreek Hill [[link removed]]from the Kansas City Chiefs in exchange for five draft picks, including a 2022 first-rounder. Subscribe to Scoreboard for more [[link removed]] on Hill’s $120 million extension. You’ll spend less time behind the wheel of your car in Ohio. According to the ACS Survey Report, the state’s three major cities all rank in the top 20 for American cities with the best travel times. Learn more [[link removed]].*

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Market Movers

U.S. stocks experienced declines across all three major indexes on Wednesday. Here’s a look at how sports-related stocks performed:

T [[link removed]]

AT&T, Inc.

[[link removed]]

$23.21

[[link removed]]

+0.02%

[[link removed]] PTON [[link removed]]

Peloton Interactive Inc

[[link removed]]

$28.61

[[link removed]]

+5.69%

[[link removed]] DKS [[link removed]]

Dicks Sporting Goods, Inc.

[[link removed]]

$107.63

[[link removed]]

-0.27%

[[link removed]] LULU [[link removed]]

Lululemon Athletica inc.

[[link removed]]

$309.92

[[link removed]]

-1.27%

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

Vail Resorts Inc.

[[link removed]]

$254.69

[[link removed]]

-2.69%

[[link removed]] (Note: All as of market close on 3/23/22) What to Watch

The TATA Indian Premier League Tournament begins its 2022 campaign on Saturday with fans back in stadiums.

Last year, the Chennai Super Kings won their fourth title in team history and will begin to defend its championship on March 26 against the Kolkata Knight Riders at Wankhede Stadium.

How to Watch: 10 a.m. ET on ESPN+ / Steam all of the TATA IPL 2022 Tournament on ESPN+ [[link removed]]*

*Sponsored content. Game availability differs by market, check your local listing.

Refer Friends to Score Your Favorite Team’s Jersey

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Front Office Sports is celebrating that Paramount+ is home to world-class soccer matches from around the globe by giving away three authentic official jerseys.

How can you score one? Refer your friends and colleagues to Front Office Sports. Copy and paste your unique link below and share it in an email or on your timeline.

*NO PURCHASE NECESSARY. Enter between March 21, 2022 @ 12:01 a.m. ET – April 30, 2022 at 11:59 p.m. ET. Open to US residents age 18+ only. 1 entry per person. Void where prohibited. See Official Rules [[link removed]] for details.

Your custom referral link:

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

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