A Congressional committee received information in recent weeks that alleges the Washington Commanders held back some ticket revenue that was supposed to be shared with other NFL teams, sources told Front Office Sports.

It is not clear how long this alleged scheme ran for or who authorized it.

According to the NFL’s Constitution and Bylaws, teams are required to pass along 40% of net ticket sales from each home game to the league; a pool of money that is then dispersed to visiting teams.

At least one person forwarded information to Congressional investigators that alleges the Commanders didn’t pass along the full 40%, two sources with knowledge of the investigation told FOS.

Congress’ Pivot on Probe

The House Oversight Committee “continues to investigate the hostile workplace and culture of impunity,” a spokesperson for the body said on Thursday as FOS reported that the focus of the investigation expanded to include allegations of financial improprieties. 

• Ticket sales are the only part of local revenues that have to be shared among NFL owners. 
• The allegations that the team held back some of the ticket money not only impacts other owners, but also the players as well since the money is factored into the salary cap. 
• The Green Bay Packers, the only publicly owned team in the NFL, took in $77 million in ticket sales in 2019.

Sources with knowledge of the ticket scheme allegations told FOS that Oversight Committee staffers received more information beyond first-person testimony.

The NCAA has traditionally hosted the men’s and women’s Final Fours in different cities, but that setup has been called into question because of gender equity issues. 

In 2013, Big East commissioner Val Ackerman suggested hosting both Final Fours in the same city in a white paper — though the NCAA largely ignored the idea. But after last year’s report by Kaplan Hecker & Fink agreed, the NCAA finally commissioned a formal review.

• The Kaplan report said the idea could increase ticket sales, enhance media coverage, and ensure an equitable experience given the NCAA’s problematic corporate sponsorship program. 
• Two potential concerns, per the papers: the logistical hurdle of finding a host city for such a large event, and fears of the women’s tournament being “overshadowed.”

Women’s Basketball Coaches Association executive director Danielle Donehew told Front Office Sports that many women’s coaches echoed the latter concern, with only 55% supporting the idea.

Stanford’s Tara VanDerveer is against it for now. “We’re in a good place,” she said. “Our tournament is really growing.”  This year’s tournament has seen high TV ratings and record attendance.

UConn’s Geno Auriemma, however, told reporters he was “willing to try anything.”

NCAA’s Decision

After months of review, the governing body decided to punt on the idea until at least 2031. Duke athletic director and Division I Women’s Basketball Committee Chair Nina King told FOS that officials want to wait to see how other reforms play out first. 

But was it a missed opportunity?

As the Kansas City Royals entertain the idea of moving to a downtown stadium, the Chiefs are looking into options for a stadium in Kansas state. 

The Royals’ Kauffman Stadium and the Chiefs’ Arrowhead Stadium live side-by-side in Missouri at Truman Sports Complex. The pair have leases until 2031.

“We are deciding what’s the future of the stadium,” Chiefs’ part owner, chairman, and CEO Clark Hunt said during the NFL’s meetings last week.

Hunt, along with team president Mark Donovan, said that the team could be out of Arrowhead — its home since 1972 — in less than a decade. 

• Donovan said the team has invested roughly $500,000 in a study to understand its best financial option — renovating, moving, or building right beside Arrowhead (if the Royals do move). In 2010, the team completed a $375 million renovation.
• Sports Business Journal reported that Donovan “mentioned almost in passing” that he frequently receives inquiries from developers for stadiums in Kansas.

Kansas City mayor Quinton Lucas tweeted, “We look forward to working with the Chiefs, our state Missouri partners, and local officials to ensure the Chiefs remain home in Kansas City and Missouri for generations to come.”

Competition Around Souped-Up Stadiums

Whether the Chiefs renovate or build new, they’ll want to compete with the new multipurpose — and multibillion-dollar — facilities that have been built of late.

Home to the Los Angeles Rams and Chargers, SoFi Stadium opened in California in 2020, the same year Allegiant Stadium, home of the Las Vegas Raiders, opened in Nevada.

Collectors Holdings, a group co-owned by New York Mets owner Steven Cohen, has raised $100 million, valuing the authenticator and manager of collectibles at $4.3 billion. 

The round, raised from existing investors, will allow Collectors to expand its business and invest in new technology to improve its user experience.

• Collectors provides service for trading cards, video games, and memorabilia.
• The company’s revenue and earnings have more than doubled over the past year. 

Collectors was acquired in November 2020 by an investor group led by sports card collector Nat Turner, D1 Capital Partners, and Cohen Private Ventures in a deal valued at around $700 million. Following the transaction, Collectors was given an $853 million valuation. 

The California-based company has also announced plans to launch a secure vault platform and collection management service. The service will allow collectors to submit items for authentication and transfer them to an 11,000-square-foot facility located in Delaware. 

Goldin Opportunity

Last July, Collectors acquired Goldin Auctions in a deal estimated to be worth more than $200 million. Goldin hosted $100 million in transactions in 2020, up from $27 million in 2019. The platform is projected to host roughly $500 million in transactions in 2022.

Before the acquisition, Goldin raised $40 million in February 2021 in a round led by The Chernin Group and included Kevin Durant, Dwayne Wade, Mark Cuban, and Bill Simmons.