April 8, 2022

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Who is going to win the World Series? According to oddsmakers, the Los Angeles Dodgers are heavy favorites to win the Fall Classic, with 5-1 odds at Caesars Sportsbook. Only one other team has odds better than 10-1 — the Toronto Blue Jays, at 9-1. The most popular bet? The New York Mets at 14-1.

NFL Has Discussed Collaborations with Netflix

Vasha Hunt-USA TODAY Sports

The NFL has had discussions with the world leader in streaming: Netflix.

Intrigued by the popularity of hit sports docuseries such as the Formula 1-focused “Drive to Survive,” the league has reportedly [[link removed]] engaged Netflix regarding its NFL Media properties.

While Netflix has eschewed live sports, it could work with the league on reality shows, documentaries, and other programming.

Netflix had 221.8 million subscribers at the end of 2021.“Drive to Survive” is credited with boosting F1’s popularity. The series saw average Grand Prix viewership rise 13% year-over-year to reach 70.3 million in 2021. Its social media platform followers grew 40% to 49.1 million.

Last year, the NFL enlisted Goldman Sachs to find partners for its media properties, including the NFL Network, NFL RedZone, and NFL.com. It is also auctioning rights to its out-of-market package NFL Sunday Ticket, which could reel in $2.5 billion per season.

Sports on Netflix

The popularity of the F1 series and ESPN co-produced “The Last Dance” docuseries on Michael Jordan’s Chicago Bulls have inspired other leagues to tap Netflix for in-depth docuseries.

Netflix and “Drive to Survive” producer Box to Box are working on a series on the men’s and women’s tennis Grand Slam tournaments and one on golf’s PGA Tour.

It is also working with Box to Box and Quad Productions on a series following the Tour de France.

Chelsea Bidders Visit London Ahead of April 11 Deadline

Chelsea FC

As Raine Group nears the April 11 deadline for final Chelsea FC bids, the potential investors are doing their best to make a mark.

The Ricketts family’s investment group, which has been considered [[link removed]] by some as the leading bidder, has faced criticism after Islamophobic emails from patriarch Joe Ricketts resurfaced from three years ago.

But Laura Ricketts, Joe’s daughter, says [[link removed]] that it’s her “life’s work to fight against discrimination and bigotry of any kind.”

She and Ken Griffin, also a part of the group, have met with numerous Chelsea fan groups in London this week to diminish concerns they may have. Laura also confirmed meetings were held with Chelsea Price’s Tracy Brown and the Chelsea Women’s Supporters Group’s Kerrie Evans.

The Chelsea Supporters Trust found that 77% of its members do not support the bid. Tom and Todd Ricketts, who own the Chicago Cubs with Laura, are also leading the consortium.

Deadline Due Diligence

Todd Boehly, another one of the four preferred bidders, was in London for Chelsea’s game against Madrid in the Champions League quarter-final on Wednesday. ESPN says he is set to meet with the team’s senior figures.

The remaining two bidders, Sir Martin Broughton and Steve Pagliuca, are expected to receive similar opportunities to meet in London.

Raine Group will choose a single preferred bidder by April 18 and is reportedly [[link removed]] looking to sell for $4.5 billion — a record [[link removed]] amount for a sports institution.

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Formula 1, Canal+ Agree To Media Rights Extension Until 2029

Jerome Miron-USA TODAY Sports

Formula 1 has struck yet another new media rights deal as viewership skyrockets in several countries.

F1 has extended its current deal with French network Canal+ until 2029, the two announced Wednesday.

The rights fee will see a major increase, according [[link removed]] to a report from L’Equipe.

Canal+ first began broadcasting F1 in 2013 and signed its most recent deal in 2021. L’Equipe reported that the current deal is worth about $65 million.One new addition to the programming will include access to F1TV Pro.

The news comes as F1 parent company Liberty Media is also expecting major competition for U.S. rights to the league. Earlier this week, president and CEO Greg Maffei told CNBC [[link removed]] that “we have a lot of interest.”

Ratings Frenzy

Since at least 2019, F1 viewership has steadily increased on Canal+. In 2021, an average of 1.14 million viewers tuned in to each Grand Prix, up 18% compared with the 2020 season.

The first two Grand Prix this year have also rated in the top five in Canal+ history for F1.

In fact, ratings across all of France increased [[link removed]] 48% last year. The trend also extended to the Netherlands, Italy, and the U.S.

NFT Video Game Developer Raises $150M After Hack

Axie Infinity

Sky Mavis, the video game developer behind NFT-based title “Axie Infinity,” has raised $150 million to help alleviate losses caused by a recent exodus of players who were unable to access gaming proceeds.

In March, “Axie Infinity” was hacked, causing Sky Mavis to lose roughly $625 million. As a result, “Axie Infinity” had to restrict the ability of its players to transfer money out of the game, fueling the decline in daily active users.

Hackers stole [[link removed]] 173,600 Ethereum tokens — worth roughly $594.6 million — and an additional $25.5 million.The capital raised will be combined with funds from the balance sheets of Sky Mavis and “Axie Infinity.”

Led by Binance, the cryptocurrency exchange whose digital tokens are used in “Axie Infinity,” the round will be used to partially reimburse players and enhance security measures.

Other investors in the round included software and venture firm Animoca Brands, Andreessen Horowitz, crypto-focused VC firm Paradigm, and Switzerland-based capital enterprise Dialectic.

Blockchain Gaming

NFT- and crypto-based gaming is growing in popularity. In February, cryptocurrency exchange FTX announced [[link removed]] it’s launching its own gaming unit in which publishers embrace blockchain networks and NFTs.

Last month, blockchain gaming platform C2X raised [[link removed]] $25 million through a private token sale, valuing the business at $500 million. Led by FTX Ventures, Animoca Brands, and Jump Crypto, the sale also included Crypto.com and blockchain gaming venture fund Hashed.

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Conversation Starters The Tennessee Titans will accept [[link removed]] bitcoin as payment for key investments via a third-party conversion service, becoming the first NFL team to do so. UFC fans will be able to vote online for their favorite fighter of the card beginning this weekend at UFC 273, and three winners will receive [[link removed]] bonuses in bitcoin as part of crypto.com’s “Fan Bonus of the Night.” NBA commissioner Adam Silver says [[link removed]] the league plans to keep its next All-Star game in Salt Lake City, Utah, despite opposing the state’s ban on transgender youth girls playing on girls teams. During the first 3 months of the 2021-22 Women’s Super League season, per-game viewership was up more than 500%. Learn more [[link removed]] about the impact of women’s sports on sponsorship models in Nielsen’s latest report.*

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Question Of The Day

Who do you think will be the preferred bidder for Chelsea FC?

Ricketts' Group [[link removed]] Todd Boehly's Group [[link removed]] Sir Martin Broughton's Group [[link removed]] Steve Pagliuca's Group [[link removed]]

Thursday’s Answer

43% of respondents enjoy cigars.

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

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