March 28, 2022

Read in Browser [[link removed]]

POWERED BY

Electronic Arts is rebranding its FIFA series to ‘EA Sports Football Club,’ according to industry insider Jeff Grubb. EA’s current deal with FIFA expires after the Qatar World Cup in November.

Bills Announce New Stadium As NFL Owners Approve $200M Loan

Rich Barnes-USA TODAY Sports/Design: Alex Brooks

The Buffalo Bills’ journey toward a new $1.4 billion stadium inched closer to reality in a matter of minutes on Monday.

New York and Erie County officials reached a 30-year deal with the Bills calling for $850 million in public financing for the 62,000-seat, open-air stadium slated to open for the 2026 season. Around the same time, league owners unanimously approved a $200 million loan for construction costs of the project at the NFL’s owners meetings — which Bills owners Terry and Kim Pegula are required to at least match.

Pegula Sports executive vice president Ron Raccuia described the negotiations with state and local government officials as “stressful,” but added that he “never considered them contentious.”

The new stadium will be located next to the current one in Orchard Park.

Raccuia said personal seat licenses “will be part of all season tickets” at the new stadium. The state will contribute $600 million in funding, with the county chipping in $250 million. The Bills are on the hook for any cost overruns.Highmark, the healthcare company and title sponsor of the Bills’ current stadium, has the right of first refusal on naming rights. Not 100% Done

The deal comes days ahead of the state’s Friday budget deadline. The project has the backing of Gov. Kathy Hochul, but state lawmakers will have to approve the subsidy.

“We still have some work to do,” Raccuia said. “They have a vote, and we respect that.”

Celtics Co-Owner Joins Chelsea Bidding Final Four

Chelsea FC/Design: Alex Brooks

Chelsea FC is virtually guaranteed to be sold to an American sports team owner.

The bidding process for the Premier League club is down to four groups, with final bids required by April 11.

Boston Celtics co-owner Stephen Pagliuca is a finalist [[link removed]]. Pagliuca is also the majority shareholder of Serie A club Atalanta and co-chairman of Bain Capital.Los Angeles Dodgers and Lakers co-owner Todd Boehly made the shortlist.Joining him are Philadelphia 76ers and New Jersey Devils co-owners Josh Harris and David Blitzer with British businessman and former Liverpool chairman Sir Martin Broughton.Chicago Cubs owner Thomas Ricketts remains in the running. Ricketts met with club supporters to address revelations that his father expressed Islamophobic sentiments.

Bidders have been asked to pledge at least $1.3 billion of additional investments, including renovations to the team’s Stamford Bridge stadium. Bids could reach at least $3.9 billion.

Transfer Tax

Chelsea’s liminal status is affecting its ability to make personnel moves. The team is controlled under a license issued by the U.K. government after it sanctioned previous owner Roman Abramovich and seized the club.

The sanctions seem to have prevented [[link removed]] the acquisition of Chicago Fire goalkeeper Gabriel Slonina on a reported $6.6 million transfer deal. Chelsea is unable to negotiate new contracts with its current players.

Abramovich, who has been involved in negotiations between Russia and Ukraine, showed signs of being poisoned, as did Ukranian negotiators, according to reports [[link removed]] from Monday. All those affected are believed to be safe.

SPONSORED BY JOBSOHIO

Life is Just Better in Ohio

Have you ever been late to a meeting because the traffic was terrible? Have you ever spent $20 on coffee and a sandwich? Have you ever asked yourself, “Why am I here?” Everyone has had a last-straw moment, but there’s a better life waiting for you—in Ohio.

But why Ohio? In Ohio, you’ll be able to live the life you’ve always dreamed about. It’s the most affordable [[link removed]] state in the U.S., ranking No. 3 in Moody’s Housing Affordability Index.

And thanks to its unique business climate, you’ll also be able to make your career dreams come true. Ohio ranks No. 13 in the Top States for Business.*

You are one step closer to a better life. Find out more [[link removed]] about the state of Ohio today.

*Source: CNBC – America’s Top States for Business in 2019

MLB Secures Deal with Capital One Reportedly Worth $125M

Kiyoshi Mio-USA TODAY Sports/Design: Alex Brooks

MLB has agreed to a deal with Capital One reportedly worth $125 million over five years, according to CNBC.

The agreement with MLB marks Capital One’s second sports-related investment in 2022. Last week, the bank holding company launched Capital One Entertainment, a platform that allows cardholders to secure admission to sporting events, theatrical performances, and concerts.

MLB’s sponsorship deal with Capital One is expansive in both its reach and in benefits for the bank’s cardholders.

Capital One is allowed to use MLB and its 30 teams in ad campaigns.The bank will be the presenting sponsor of the World Series.Capital One will offer cardholders benefits at MLB events, including the All-Star Game.The deal also includes sponsored events at the minor league and Little League levels.

Capital One follows [[link removed]] Bank of America as MLB’s bank promotion rights holder. BOA had held the rights since 2015 and paid more than $10 million in the 2021 season as part of its agreement with the league, according to sponsorship consultancy firm IEG.

Deep Pockets

MLB’s deal with Capital One comes at a time when the league’s franchises are worth more than ever.

Last week, Forbes unveiled its 2022 list of most valuable MLB franchises, and the average [[link removed]] value of MLB teams reached a record $2.07 billion, a 9% increase year-over-year, behind the expansion of the postseason and ad placement on uniforms — a new revenue stream for 2022.

Conversation Starters In The Leadoff, the rollercoaster that is the European Super League continues, a vote is expected for the Washington Commanders’ $3 billion domed stadium proposal, the spectator sports market is expected to reach $181 billion in 2022, and Nike joins forces with Kobe Bryant’s estate after a split last year. Click here to listen [[link removed]]. Duke’s matchup with North Carolina in the Final Four has caused ticket prices to surge. The get-in price for the Final Four semifinal games at Caesars Superdome in New Orleans on Saturday increased [[link removed]] by 50% following North Carolina’s win over Saint Peter’s this past weekend. The minimum price for an upper-level ticket for the doubleheader was $759 as of Sunday night, according to Ticket Club. Spain’s Catalonia and Aragon regions reportedly plan to submit a joint bid [[link removed]] to host the 2030 Winter Olympics. Vancouver, Salt Lake City, and Sapporo have expressed interest in hosting the Winter Games, with the Japanese city considered the favorite to win the bid. No one expected Hubert Davis to fill Roy Williams’ shoes — but he’s already pulled off a feat faster than his predecessor [[link removed]]. With the North Carolina Tar Heels’ 20-point victory over Saint Peter’s this past weekend, the former assistant (2012-21) became the ninth coach to make the Final Four in his first year. Subscribe to Scoreboard for more [[link removed]] on Davis and his Tar Heels.

SPONSORED BY NETSUITE

The CFOs That Get It, Get It

Today’s CFO is critical to the strategy and success of the business. And in growing companies, there are two kinds of CFOs…

One who’s struggling to keep up – spreadsheets everywhere, manual processes, errors, and lack of visibility into the numbers. It takes weeks to close the books.

The other who’s on top of their game – automated reports [[link removed]], inventory, e-commerce and HR flow into the financial model seamlessly, insights coming with the click of a button.

With visibility and control of your financials, inventory, HR, planning, and budgeting, NetSuite can automate your processes and close your books in no time. That’s why NetSuite is the #1 Cloud Financial system [[link removed]], used by over twenty-nine thousand growing businesses.

Try Netsuite today [[link removed]] for a special one-of-a-kind financing offer.

Market Movers

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

DECK [[link removed]]

Deckers Outdoor Corp.

[[link removed]]

$274.97

[[link removed]]

+1.60%

[[link removed]] DKNG [[link removed]]

DraftKings Inc

[[link removed]]

$18.55

[[link removed]]

+1.70%

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

Lululemon Athletica inc.

[[link removed]]

$332.21

[[link removed]]

+3.25%

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

Callaway Golf Co.

[[link removed]]

$23.45

[[link removed]]

-0.68%

[[link removed]] CWH [[link removed]]

Camping World Holdings Inc

[[link removed]]

$28.77

[[link removed]]

-0.79%

[[link removed]] FWONA [[link removed]]

Formula One Group

[[link removed]]

$60.23

[[link removed]]

-1.91%

[[link removed]] (Note: All as of market close on 3/28/22) What to Watch

The UConn Huskies (28-5) face the NC State Wolfpack (32-3) on Monday at Total Mortgage Arena.

How to Watch: 7 p.m. ET on ESPN

Betting Odds: UConn -4 || ML -180 || O/U 129.5* ( Bet on DraftKings [[link removed]])

Pick: Expect the Wolfpack to keep things close. Take NC State to cover.

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

Refer Friends to Score Your Favorite Team’s Jersey

SPONSORED BY

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:

[link removed] [[link removed]]

Or use these one-tap sharing methods:

Email [mailto:?subject=Check%20out%20the%20Front%20Office%20Sports%20daily%20newsletter!&body=This%20newsletter%20from%20Front%20Office%20Sports%20summarizes%20the%20four%20biggest%20stories%20in%20the%20sports%20business%20world%20every%20weekday...all%20in%20five%20minutes%20or%20less.+https%3A%2F%2Fsparklp.co%2F0d56433a%2F%3Futm_source%3Demail] Twitter [[link removed]] Facebook [[link removed]]

Written by A.J. Perez [[link removed]], Owen Poindexter [[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

Copyright © 2022 Front Office Sports. All rights reserved.

80 Pine Street Suite 3202 New York, NY 10005

If this email was forwarded to you, you can subscribe here [[link removed]].

Advertise [[link removed]] / Update your preferences [link removed] / Unsubscribe [link removed]