March 31, 2022

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FC Barcelona Femeni made history at Camp Nou on Wednesday in its Champions League victory over Real Madrid, drawing the biggest attendance ever for a women’s soccer game — 91,553 fans. The previous record was held by the 1999 World Cup Final between the United States and China (90,185).

Final Fours Contribute Hundreds of Millions to Local Economies

Kirby Lee-USA TODAY/Design: Alex Brooks

Thousands of fans, media, and industry professionals — not to mention teams — are beginning to descend upon New Orleans and Minneapolis, respective hosts of the men’s and women’s Final Fours.

Both cities will likely reap millions of dollars — as much as $275 million combined — in local economic impact.

The men’s Final Four can be worth $100 million to $150 million to New Orleans, Ball State economics professor Michael Hicks told Front Office Sports. Hicks estimated that the women’s Final Four can bring $75 million to $125 million to Minneapolis.

The influx of money began long before this weekend’s college basketball frenzy, however. Over the past several months, planning, visits, and other preparations have also contributed to these figures, Hicks noted.

Pandemic Impact

Last year, Indianapolis hosted the entire men’s tournament in a semi-bubble with limited attendance.

Hicks previously estimated [[link removed]] the entire event brought about $125 million to $175 million to the city. While the number was significant, particularly amid the financial ravages of COVID, it’s close to the same amount as this year’s men’s Final Four alone.

And after two years of unorthodox Final Fours — or none at all — this year is a welcome reinvigoration for the fans as well as host cities.

“This is a rare opportunity to go out and enjoy yourself in a way that you just haven’t been able to because of COVID,” Hicks said.

NFL Owners Still Debating Rams’ $790M Relocation Fee

Kirby Lee-USA TODAY Sports/Design: Alex Brooks

NFL owners are reportedly debating who should pay the $790 million settlement in Missouri over the relocation of the Rams to Los Angeles — the most the league has paid to settle litigation.

The decision was once left to the NFL’s finance committee, but that changed [[link removed]] after the committee suggested a resolution should be made in conjunction with the league’s commissioner, Roger Goodell.

Filed in 2017, the lawsuit alleged the NFL broke its own relocation rules by allowing Rams owner Stan Kroenke to move the team from St. Louis in 2016. Kroenke signed [[link removed]] an indemnification agreement ahead of the move, leaving all costs associated with it to the Rams owner.

In November 2021, Kroenke attempted to settle the lawsuit for $100 million, but the offer was rejected, sources told [[link removed]] Front Office Sports.

Kroenke argues that the relocation reclaimed Los Angeles for the NFL.He also said SoFi Stadium, the Rams’ current home, brings attention to the league.

Kroenke purchased a minority stake in the Rams in 1995. In 2010, he purchased the majority share of the team for $450 million, valuing the franchise at $750 million. As of August 2021, the Rams are valued [[link removed]] at $4.8 billion, the fourth-most valuable franchise in the NFL.

Close Call

The NFL’s settlement with St. Louis, St. Louis County, the St. Louis Regional Convention, and Sports Complex Authority ensured that sensitive financial information of the league and its owners would not become public in a jury trial. However, it didn’t include a promise of a future expansion franchise.

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Renee Montgomery started her career in Storrs, Connecticut, where she was a key cog in the UConn Huskies’ 2009 Women’s National Championship team.

Drafted 4th in the WNBA, she won 2 WNBA championships while also being named an All-Star and 6th Woman of the Year in her 11-year professional career. Renee retired in 2021 after sitting out the 2020 season to focus on social reform and justice.

Her basketball career was just a precursor to her second act, which includes titles such as podcast host, sports broadcaster, Vice President and Co-Owner of multiple professional sports teams.

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Boehly Prepares For Stadium Renovations Amid Chelsea Bid

Chelsea FC/Design: Alex Brooks

Chelsea FC has given interested parties a deadline of April 11 to submit their final offers for the team, but one preferred bidder is already discussing redevelopment of its stadium, Stamford Bridge.

Todd Boehly, co-owner of the Los Angeles Dodgers and Lakers, is heading a consortium with billionaire Hansjorg Wyss for the team, and the Evening Standard reports the group already began consulting with the former project director of Roman Abramovich’s Stamford Bridge plans, David Hickey.

Abramovich was sanctioned by the U.K. government for his ties to Vladimir Putin and put the team up for sale.

The consortium has reportedly [[link removed]] consulted with architect Janet Marie Smith, who has worked with Boehly on renovations to Dodger Stadium and has led renovations at Boston’s Fenway Park and Atlanta’s Centennial Olympic Stadium.Jonathan Goldstein, who is included in the bid, is a property developer.

Boehly’s consortium, the Ricketts family — owners of the Chicago Cubs — former Liverpool chairman Sir Martin Broughton, and Boston Celtics co-owner Stephen Pagliuca are the remaining four bidders. Each was asked [[link removed]] to add at least $1.3 billion to bids — which could now reach at least $3.9 billion — to factor in renovations to the stadium.

Last-Minute Moves

Earlier this week Authentic Brands Group founder Jamie Salter reportedly [[link removed]] expressed interest in joining a bid as a minority investor. As of November, the company, which was founded in 2010, is worth [[link removed]] $9.5 billion.

D.C. Plans To Upgrade RFK Stadium Site, NFL Team or Not

Tommy Gilligan-USA TODAY Sports/Design: Alex Brooks

The mayor of Washington, D.C., is planning to improve the area around Robert F. Kennedy Memorial Stadium — regardless of where the NFL’s Washington Commanders decide to build a new stadium.

RFK Stadium, which closed in 2019, has been the host of several marquee sporting events including MLB All-Star Games and World Cup matches. It was home to the Washington Redskins from 1961 to 1996, and D.C. United also called it home from the MLS team’s debut in 1996 until 2017.

Mayor Muriel Bowser has expressed interest in the Commanders returning to the nation’s capital, but the team has explored developments in Virginia and at the site of the team’s current home, FedEx Field, in Maryland.

Regardless of where the Commanders end up, RFK Stadium is expected [[link removed]] to be demolished.

A proposal of $60 million to build a new recreation center has been submitted. Plans for the facility include an indoor track, pool, and space for gymnastics.If the budget is approved, construction of the complex could take up to five years.

Competition for a new stadium is fierce. Virginia has offered the Commanders $1 billion and a cut of sales tax revenue to play games there. Maryland, where the team currently plays, is also offering hundreds of millions of dollars to keep them.

Stipulations

Owned by the federal government, RFK Stadium’s current lease runs [[link removed]] through 2036 and requires the land to be used for sports and entertainment purposes, unless Congress relinquishes the property to the city.

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Conversation Starters MLB Network is planning [[link removed]] a new studio show hosted by Lauren Gardner called “Off Base,” marking the network’s first new daily show since “MLB Central” debuted in 2015, sources told Front Office Sports. A Miami City Commission vote that could see David Beckham turn a city-owned golf course into a soccer stadium has been delayed [[link removed]] for the fourth time since February. Peer-to-peer sports gaming platform Lucra Sports announced [[link removed]] a $10 million funding round led by Raptor Group. The Cleveland Cavaliers have reached a jersey patch deal [[link removed]] with Cleveland-Cliffs, a steel manufacturer with a market cap of more than $16 billion. Question Of The Day

Do you plan to watch any Final Four games this weekend?

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

Wednesday’s Answer

47% of respondents own a Lululemon product.

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

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