March 30, 2022

Read in Browser [[link removed]]

POWERED BY

Good seats to the Final Four are never cheap — and some for this year’s event in New Orleans are selling for more than $17,000, according to Bloomberg. The cheapest seats are currently going for around $427.

$3B Sports and Entertainment Center Planned Near Vegas Strip

Oak View Group/Design: Alex Brooks

Oak View Group purchased 25 acres in Las Vegas for a $3 billion entertainment campus — including a $1 billion, 20,000-seat arena — that aims to attract new events and professional sports teams to Sin City.

The land sits within a 66.5-acre plot purchased for nearly $99 million by Blue Diamond Acquisition in February, according to [[link removed]] Clark County Records.

Plans include [[link removed]] an amphitheater, hotel, and a casino for which Oak View Group would bring in a gaming partner to help with operations. Oak View Group is well-equipped to run event centers.

The company redeveloped and operates Climate Pledge Arena in Seattle.It partnered on building and operating UBS Arena in Long Island.Next month, it opens the Moody Center in Texas.

“We will usher in the evolution of Las Vegas as the new entertainment and sports capital of the world,” Oak View Group CEO Tim Leiweke said.

The NHL’s Golden Knights moved to Las Vegs in 2017, the NFL’s Raiders arrived in 2020, and Front Office Sports reported [[link removed]] that Formula 1 is coming to Vegas in 2023.

Potential Plays

A group led by Fortress Investment Group’s co-CEO Wes Edens has expressed interest in bringing an MLS team to the city.

The NBA is also reportedly looking to expand in Las Vegas, though the league said [[link removed].] that won’t happen for at least five-to-six years, if at all. However, Leiweke says the arena “will be built to the highest specifications of the NBA.”

New York Using Casino Revenue To Help Fund Bills Stadium

Rich Barnes-USA TODAY Sports/Design: Alex Brooks

On Monday, New York Gov. Kathy Hochul announced the state would contribute about $600 million to the Buffalo Bills’ $1.4 billion stadium project.

A day later, Hochul clarified [[link removed]] where a lion’s share of that cash would come from: the Seneca Nation of Indians.

The Seneca Nation made a “long-delayed” payment of $564.8 million in casino revenue to resolve a legal dispute. Hochul said $418 million worth of that money will go directly toward the Bills’ stadium.Now, taxpayers will be responsible for about $172 million, Hochul said.

In a statement [[link removed]], Seneca Nation President Matthew Pagels called the decision “hostile and shameless greed. … The Governor’s new stadium won’t be a product of progress. It will be a monument to Albany’s vindictive desire to punish the Seneca people.”

Outside contributions won’t stop there, however.

As part of the deal, Erie County is contributing $250 million, and on Monday, the NFL announced it had approved [[link removed]] a $200 million loan to help with construction. Bills owners are required to match that amount and pay for any cost overruns.

Stadium Specifics

The stadium will be built next to the team’s current one in Orchard Park. The plan is for an open-air venue that seats 62,000 fans.

Construction is expected to finish in time for the 2026 season.

SPONSORED BY TICKETMASTER

Elevating the Modern Fan Experience

Thanks to the continued advancement of social media and virtual technology, fans now expect and crave unique and immersive live event experiences. The ticketing industry extends beyond just ticketing to help enhance the live experience [[link removed]] for all fans.

Modern Ticket Essentials: Beyond the Ticket, our new six-lesson course [[link removed]] presented by Ticketmaster, is here to help those looking to learn more about how modern ticketing helps teams and event organizers enhance the live experience for their fans.

This free online course provides a behind-the-scenes look at how Ticketmaster and their partners are thinking about the future of ticketing [[link removed]] – from personalization and data strategies to NFTs, distribution partnerships, and more.

Sign up today to earn your verified digital badge. Get started [[link removed]]!

Sportradar Reports $634M Fiscal Year

Sportradar/Design: Alex Brooks

Sportradar exceeded its own expectations in 2021, according to the sports data firm’s latest earnings report.

The sports data aggregator generated [[link removed]] $634.2 million in revenue in FY2021, a 39% increase year-over-year, driven by growth across all business segments. Those results surpassed the company’s annual revenue outlook for 2021, which was between $617 million and $619 million.

The company expects FY2022 revenue to range between $742 million and $780 million.

Sportradar continues to diversify its portfolio of clients in 2022.

In January, it secured an integrity support deal with the Canadian Hockey League.Athletes Unlimited hired the company in February to protect its competitions.The same month, it announced an agreement with the USFL.Earlier this month, it struck a partnership with Bowl Season to advise on sports betting.

Sportradar also reported $172.2 million in revenue in Q4 2021, a 41% increase compared to the same period the year prior. The Switzerland-based company saw its revenue in the U.S. reach $26.2 million during the quarter, a 92% uptick compared to Q4 2020.

Quite the Journey

Sportradar went public in September 2021 after raising $513 million through an IPO, giving the company a valuation of just under $8 billion. The company originally planned to go public last March via a merger with Horizon Acquisition Corp., a SPAC backed by Los Angeles Dodgers co-owner Todd Boehly.

Conversation Starters In The Leadoff, Lululemon reports a historic $6 billion fiscal year, competition for Denver Broncos ownership heats up, Brighton and Hove Albion announces $70 million in losses, and iFIT’s CEO is reportedly forced out by investors. Click here to listen [[link removed]]. The NFL has hired [[link removed]] former U.S. attorney for the Southern District of New York Mary Jo White to lead its investigation of tanking allegations against the Miami Dolphins. White is also overseeing the league’s investigation of sexual harassment allegations against the Washington Commanders and owner Daniel Snyder. Conference USA announced that it will separate [[link removed]] with Marshall, Southern Mississippi, and Old Dominion at the end of this academic year. The split marks the end of a legal battle between the schools and C-USA to prevent them from leaving. The three schools will join the Sun Belt Conference on July 1. Tiger Woods’ time as a full-time golfer may be over, but his first event in a limited capacity [[link removed]] could be next week’s Masters. On Tuesday, Woods flew from his home in Florida to play a full practice round at Augusta National with his son Charlie and fellow PGA Tour star Justin Thomas, according to reports. Subscribe to Scoreboard for more [[link removed]] on Woods and his potential return.

SPONSORED BY WHOOP

Manage the Madness This March

Stay on top of your game with WHOOP [[link removed]], the most powerful fitness and health coach on the market, and their all new WHOOP 4.0.

WHOOP isn’t just another fitness wearable. The strap and app [[link removed]] work together to provide you with personalized recommendations and coaching feedback.

Wake up each morning with a recovery score based on how well you slept, your heart rate variability, respiratory rate, and other vital signs. WHOOP tells you when you’re primed for a big day and when you should take it easy based on your body.

The data just got even smarter with WHOOP 4.0 — 33% smaller, designed with new biometric tracking, including skin temperature, blood oxygen, and more.

Get started [[link removed]] with WHOOP and get a free month today.

Market Movers

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

EA [[link removed]]

Electronic Arts, Inc.

[[link removed]]

$127.66

[[link removed]]

+0.24%

[[link removed]] CHDN [[link removed]]

Churchill Downs, Inc.

[[link removed]]

$226.77

[[link removed]]

+0.95%

[[link removed]] ARMK [[link removed]]

Aramark

[[link removed]]

$37.85

[[link removed]]

-0.42%

[[link removed]] MGM [[link removed]]

MGM Resorts International

[[link removed]]

$43.13

[[link removed]]

-0.76%

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

Callaway Golf Co.

[[link removed]]

$24.22

[[link removed]]

-2.54%

[[link removed]] (Note: All as of market close on 3/30/22) What to Watch

Hall of Fame baseball player David Ortiz hosts “Big Papi’s Place,” a baseball-centric rendition of Peyton Manning’s, “Peyton’s Places” franchise. Ortiz takes viewers on a journey through baseball history by traveling to iconic stadiums and speaking with some of the game’s greats.

How to Watch: Exclusively on ESPN+ / Stream all of “Big Papi’s Places” on ESPN+ [[link removed]]*

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

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 Abigail Gentrup [[link removed]], Amanda Christovich [[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]