March 31, 2022

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The Final Four is set, and one basketball fan could be a big winner. With 17-1 odds, someone in New Jersey placed a $300,000 bet on Duke winning it all, according to Bloomberg. If the Blue Devils pull it off, the bettor will net a payout of $5.1 million.

Investigators Expanding Commanders Probe Into Team’s Finances

Geoff Burke-USA TODAY Sports/Design: Alex Brooks

A Congressional committee is expanding the scope of its investigation into the Washington Commanders to include whether the team and owner Dan Snyder used “two books” of financial information that paint different pictures of the team’s fiscal situation, sources with knowledge of the investigation told Front Office Sports.

At least one person familiar with the team’s financial health was already interviewed by House Oversight Committee investigators, and the committee is primed to use its subpoena power, FOS has learned through a series of interviews.

Investigators have expanded a probe that started in October amid numerous claims the team fostered a hostile work environment. Among the information committee investigators have either received or are currently seeking:

The debt load Snyder has undertaken could be impacting the team’s finances. Snyder received a debt waiver from the league’s owners at the NFL’s annual meeting a year ago in order to finance a large chunk of the nearly $1 billion used to purchase the 40% of the franchise he didn’t already own. The committee is seeking interviews and documents related to allegations that the Commanders used deceptive accounting practices. Investigators also received allegations of pay disparity between male and female employees, including bonuses. Commanders Deny Wrongdoing

“The team categorically denies any suggestion of financial impropriety of any kind at any time,” the Commanders said in a statement Thursday.

A House Oversight Committee spokesperson in a statement to FOS that it “will follow the facts wherever they may lead.”

Netflix to Add Tour de France Series To Sports Lineup

A.S.O./Design: Alex Brooks

Netflix is creating a documentary series on the Tour de France in conjunction with sports events organizer A.S.O. and France Télévisions.

Produced by Quadbox, a joint venture between Quad Productions and “Drive to Survive” producer Box to Box Films, the series will document the journey of eight cycling teams taking part in the 23-day race, which covers more than 2,000 miles in July.

Thanks in part to the success of the Formula 1-based series “Drive to Survive,” the championship’s viewership is soaring. The 2021 season averaged [[link removed]] 931,000 viewers on ESPN through its first 14 races, a 50% increase compared to the 2020 season.

Netflix is looking to capitalize on the momentum with more sports-focused projects.

It is working [[link removed]] with the ATP Tour, WTA Tour, and Grand Slam Tournaments on a series.Box to Box Films is helping Netflix create a project focused [[link removed]] on the PGA Tour.Peyton Manning’s Omaha Productions will co-produce a show on collectibles [[link removed]] with Ken Goldin.

Filming of Netflix’s upcoming Tour de France series will take place between March 2022 and July 2022, with the eight-episode series available to subscribers in the first quarter of 2023.

Ability to Invest

Netflix generated [[link removed]] $7.7 billion in revenue in Q4 2021, a 16% uptick year-over-year, and added 8.3 million subscribers during the quarter, bringing its total to 222 million. The company’s operating income dropped to $632 million, compared to $954 million in Q4 2020.

The company pocketed $30 billion in revenue in FY2021, up 19% compared to the year prior.

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Rising 25 Nominations Are Here!

Know an up-and-coming young professional changing the game in the business of sports?

The Front Office Sports Rising 25 Award [[link removed]], presented by Anheuser-Busch, celebrates the careers of the brightest young stars in the business of sports. To date, we’ve honored 125 individuals and we’re looking for our next group of young stars.

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Formula 1 Confirms Circuit Coming to Las Vegas

Formula 1/Design: Alex Brooks

Formula 1 made it official on Wednesday: The global racing series will return to Las Vegas.

The announcement confirmed reporting [[link removed]] from Front Office Sports, which broke the story last week. The race [[link removed]] will take place on a Saturday night – a rarity for F1, which typically races on Sundays.

The race will occur during Thanksgiving weekend in 2023, confirming previous reporting from FOS.

The 3.8-mile track will feature 14 turns, three straights, a cornering sequence, and a chicane section. Top speeds are expected to reach 212 mph during the 50-lap race.Streets will be resurfaced prior to the race to smooth out bumps from regular traffic.

The race will feature a 1.2-mile stretch down the Las Vegas Strip, passing landmarks such as Caesars Palace, Bellagio Fountain, Mandalay Bay, and the MSG Sphere, which is currently under construction.

Live Nation Entertainment, Caesars Entertainment, MGM Resorts International, Wynn Las Vegas, and other brands will promote the event.

F1 last raced in Las Vegas in 1982.

Think Globally

Las Vegas adds a third U.S. race alongside Austin — a fixture since 2012 – and Miami, which will debut on May 8.

“You add in Canada, Mexico, and Brazil – suddenly you’ve got six events in the Americas time zones,” Ian Holmes, F1’s director of media rights, told FOS. “And that starts to slightly change the emphasis of the championship.”

F1 CEO Stefano Domenicali has also floated the possibility of expanding to 30 races from this season’s 23 Grand Prix matches, mentioning Africa as a potential destination.

Conversation Starters In The Leadoff, Oak View Group plans a $3 billion sports and entertainment center in Las Vegas, the Final Fours contribute hundreds of millions to local economies, Washington, D.C., plans to upgrade the RFK Stadium site, and Todd Boehly prepares for Stamford Bridge renovations amid a bid for Chelsea FC. Click here to listen [[link removed]]. Chelsea FC will keep [[link removed]] the Three logo on its jerseys for the remainder of the season despite the British telecom and internet provider asking the Premier League club to remove them. Entering the final season of his rookie contract — without signing an extension — Lamar Jackson called rumors of an impending breakup with the Baltimore Ravens a “false narrative.” Acting as his own agent, he’s chosen not to discuss an extension yet [[link removed]], meaning he’ll play the 2022 season on his fifth-year option worth $23 million. Subscribe to Scoreboard for more [[link removed]] on Jackson and his future with the Ravens. Fitness wearables just got even smarter with WHOOP 4.0 — 33% smaller, designed with new biometric tracking, including skin temperature, blood oxygen, recovery scores, heart rate variability, respiratory rate, and more. Get started [[link removed]] with WHOOP and get a free month today.*

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Market Movers

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

LYV [[link removed]]

Live Nation Entertainment Inc

[[link removed]]

$118.05

[[link removed]]

+0.23%

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

Aramark

[[link removed]]

$37.70

[[link removed]]

+0.37%

[[link removed]] RCI [[link removed]]

Rogers Communications Inc.

[[link removed]]

$56.73

[[link removed]]

+1.09%

[[link removed]] T [[link removed]]

AT&T, Inc.

[[link removed]]

$23.70

[[link removed]]

-1.68%

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

MGM Resorts International

[[link removed]]

$42.04

[[link removed]]

-2.00%

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

DraftKings Inc

[[link removed]]

$19.56

[[link removed]]

-5.09%

[[link removed]] (Note: All as of market close on 3/31/22) What to Watch

The Milwaukee Bucks (47-28) face the Brooklyn Nets (40-36) on Thursday at Barclays Center.

How to Watch: 7:30 p.m. ET on TNT

Betting Odds: Nets -2 || ML -130 || O/U 243.5

Pick: Expect the Bucks to come out with a point to prove. Take Milwaukee to cover.

Refer Friends to Score Your Favorite Team’s Jersey

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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.

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

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