April 11, 2022

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They say timing is everything, and it certainly was for the Arizona Diamondbacks’ Seth Beer. The rookie blasted a walk-off, three-run home run to beat the San Diego Padres — on National Beer Day! To celebrate the moment, the Diamondbacks gave away free beers to the first 10,000 fans Friday night.

The Numbers Behind The Masters

Rob Schumacher-USA TODAY Sports

The Masters concluded on Sunday, and despite being the most prestigious tournament on the PGA Tour, a report suggested the tournament would bring in $18 million less than this year’s U.S. Open.

According to Forbes, the first major of 2022 is expected to generate $142 million in revenue, while the U.S. Open, the third major of the year, can expect $160 million.

The report [[link removed]] breaks down where The Masters revenue comes from, noting that there are no numbers for domestic TV rights or sponsorship revenue:

Merchandise: $69 millionBadges: $39 millionInternational TV rights: $25 millionConcessions: $8 million

The Masters generates no domestic TV revenue. CBS and ESPN reportedly allow Augusta complete control of the broadcast in exchange for no compensation. Comparatively, the U.S. Open receives $15 million from sponsorship deals and $93 million from domestic TV rights deals.

Augusta has no signage either and only six sponsors for the tournament: AT&T, Delta, IBM, Rolex, UPS, and Mercedes-Benz.

Winner’s Share

The Forbes report calculated that The Masters missed out on a total of $269 million by not maximizing revenue potential. Domestic TV rights, for example, could fetch at least $100 million.

One person who didn’t miss out: Scottie Scheffler. The 25-year-old took home $2.7 million of an $11.5 million purse for his Masters win — the first major victory of his career.

MLS’ New League Looks Toward ‘Biggest Sporting Event’ Ever

Jeff Curry-USA TODAY Sports

Major League Soccer recently launched one of the biggest pieces of its long-term growth plan: MLS NEXT Pro.

The 21-team league serves as an affiliate league for MLS, a training ground, a business and gameplay laboratory, and a way to bring soccer to many more communities across the country.

“The reason that MLS NEXT Pro exists, first and foremost, is to complete the pro-player pathway,” league president Charles Altchek told Front Office Sports. “Our academies are firing on all cylinders, and producing so many more high-quality young players, that there isn’t enough time and space on the field with our first teams anymore.”

The league plans to add around eight teams next year, including ones affiliated with MLS clubs in Atlanta, Los Angeles, and New York.The Rochester club is an independent team not affiliated with an MLS team. Altchek anticipates more of those in the future.“We’re going to have independent teams around the country, competing with our MLS-owned teams,” he said. Today the U.S., Tomorrow the World

The league brings professional soccer to many more communities, as MLS builds toward the U.S. hosting the World Cup in 2026.

“The 2026 World Cup is going to be the biggest sporting event of all time,” said Altchek.

“MLS NEXT Pro is an opportunity for us to get ready for that moment to be able to capture that energy and excitement around the sport. And what better way to do that than to introduce professional soccer to new cities and markets around the country.”

SPONSORED BY FIDELITY

Reinvention Through Positivity

Drafted 8th overall in the 1988 NBA Draft, Rex Chapman was a star. He left Kentucky as a legend, named to the All-SEC Team and All-American Team in his final season.

Chapman went on to play 12 seasons in the NBA for four different teams. Injuries plagued the latter half of Chapman’s career however, and the road that followed his retirement was a difficult one.

Now Rex Chapman is well known for his light-hearted content on social media and is excited to continue his Second Act in media as host of a new show on CNN+, where he’ll interview athletes, entertainers, and everyday heroes as Chapman looks for the silver lining beyond today’s toughest headlines.

Check out our latest episode of Second Acts [[link removed]], presented by Fidelity [[link removed]], to learn more about Rex’s story of reinvention.

Formula E Looks to Next Generation

Formula E

As it prepares to unveil its Gen3 racecar, Formula E is angling toward the next generation of fans, media, and auto manufacturing.

“The series was founded with the express purpose of showcasing what electric mobility can be,” Formula E’s CEO Jamie Reigle told Front Office Sports. “We always feel like we need to push the envelope in terms of R&D and new innovations in the car.”

The new car, which will be unveiled at the April 30 Monaco race, will have a smaller battery, making for a lighter, smaller car that’s faster and can more easily maneuver around cars.The Gen3 car will grow the power output from 250kw to 350kw and generate 40% of its power from regenerative braking capabilities.

While Formula E cars don’t change tires during the race, the series is considering a feature in which cars could access higher power levels if they stop at a charging station.

“We’re playing with that intersection of the real world and the virtual, gaming world,” Reigle noted.

The series reaches around 20 million viewers per race, with about 60% to 70% watching live and the rest viewing highlights and recaps.

The ‘Drive to Survive’ Formula

Reigle has not failed to notice how the Netflix series “Drive to Survive” has turbocharged Formula 1’s popularity (the two racing series share certain tracks but have no formal connection).

“You have to figure out what’s going to be our angle, and we think that going into Gen3 is the moment,” he said.

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.

SPONSORED BY ANHEUSER-BUSCH

One Week Left to Nominate!

Just one week left to nominate 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.

Nominations are open NOW through Monday, April 18. Winners will be announced in June and honored at a celebration in New York City this fall.

Nominate today [[link removed]]!

Conversation Starters Manchester City has again been accused [[link removed]] of violating financial regulations and rules for underage players. The Premier League has reportedly been investigating the English soccer champions for more than three years. Canada’s public service broadcaster CBC has secured [[link removed]] exclusive rights for all Olympic Games until 2032. A coalition called Play Proud United has been formed [[link removed]] by teams from MLS, the NWSL, and Liga MX in an effort to eliminate homophobia from soccer. Simmons Bank signed a reported [[link removed]] 10-year deal worth more than $6.8 million for naming rights to the Liberty Bowl Memorial Stadium in Memphis. Question Of The Day

Did you watch any of The Masters tournament?

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

Friday’s Answer

26% of respondents think the preferred bidder for Chelsea FC will be the Ricketts group; 26% think it will be Todd Boehly’s group; 25% think it will be Sir Martin Broughton’s group; 23% think it will be Steve Pagliuca’s group.

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

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Front Office Sports Scoreboard [[link removed]] - The biggest stories in sports and the numbers behind them

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