April 21, 2022

Read in Browser [[link removed]]

POWERED BY

Sotheby’s is auctioning the jersey Diego Maradona wore in 1986’s infamous “Hand of God” World Cup quarterfinal — and the reported first bid is valued at $6.32 million, including the buyer’s premium. That would break the record for the highest-priced game-used jersey set by Babe Ruth’s 1928-30 Yankees road jersey ($5.6 million).

Netflix Exec Talks F1, Games But Taps Brakes On Live Sports

Netflix

Live sports aren’t coming to Netflix anytime soon.

On Tuesday’s earnings call, Netflix co-CEO Ted Sarandos said [[link removed]] that the company would “have to see a path to growing a big revenue stream and a great profit stream with it” before it could add live sports.

But even if the streamer doesn’t offer live sports, it isn’t completely missing out. Sarandos added that the company will continue to explore sports-related content and documentaries.

Netflix has seen great interest in its “Formula 1: Drive to Survive” docuseries, and launched its fourth season last month. Since the show debuted, F1’s viewership has increased [[link removed]] nearly 50%. Netflix co-CEO Reed Hasting previously said it would consider buying the rights to F1.The streamer has also expanded into gaming, building on its storytelling knowledge. “We think we can build a big revenue and profit stream by adding games,” Sarandos said. Netflix’s Nightmare

The company has bigger concerns at the moment than hopping into live sports. The streamer reported its first quarterly subscriber loss in more than 10 years — 200,000 customers, a significant difference from its expected addition of 2.5 million.

As of market close on Wednesday, the company’s stock was down more than 35%, dropping [[link removed]] the company’s value by more than $45 billion. Despite the low numbers, Netflix’s first-quarter revenue still increased [[link removed]] 10% to $7.9 billion.

Lululemon’s ‘Bold’ $12.5B Growth Plan Includes Menswear

Ajay Suresh

On Wednesday, Lululemon announced an ambitious business plan following a historic fiscal year.

The athletic apparel retailer’s “Power of Three x2” strategy states that it will reach $12.5 billion in revenue by 2026 — twice the amount it earned in 2021.

Lululemon will continue its investment in women’s apparel and the North American market. But it will put significant emphasis on growing two other areas of the business: menswear and the international market.

By 2026, the company plans to increase men’s apparel revenue to twice the amount it garnered in 2021.Its international market revenue should quadruple, the brand said.Over the next five years, Lululemon expects a 15% growth in total net revenue CAGR.

The plan also includes a component for environmental sustainability and supporting diversity.

CFO Meghan Frank called the plan “bold but realistic” in a statement.

A Historic Year

The news follows Lululemon’s March earnings report release, which revealed [[link removed]] the company earned a total of $6.25 billion in annual revenue in 2021 — a record.

A large chunk of those sales came during the fourth quarter, when Lululemon earned $2.1 billion in total revenue.

SPONSORED BY STARTENGINE

Invest in LeBron James Rookie Card

StartEngine [[link removed]] Collectibles brings you an opportunity to diversify your portfolio with the LeBron James Rookie Card.

Did you know that according to Axios, sports cards have outperformed the PWCC 500 index, which is essentially the S&P 500 for trading cards, for the last 12 years?*

With just $4K left of the offering, don’t miss your chance to own a piece of sports history in the making. Invest on StartEngine [[link removed]]today.**

College Football Recruits Are Reportedly Cashing In With Hefty NIL Deals

Kirby Lee-USA TODAY Sports

Name, image, and likeness collectives — groups of alumni, boosters, donors, and/or local businesses that have pooled funds to offer deals to a specific school’s athletes — have begun forming nationwide.

After just a few months, it appears they’re starting to make an impact on the football recruiting landscape — by offering six- to seven-figure checks to future players.

Two football recruits have signed deals with collectives for $1 million or more, and one has signed a contract for $500,000, according [[link removed]] to The Athletic.The outlet previously reported [[link removed]] that a 2023 recruit signed a whopping $8 million deal with their school’s collective.

The news demonstrates how some have found ways to use NIL as an aboveboard form of pay-for-play.

The NCAA has yet to publicly come down on schools for these issues. But with the current legal landscape, it may not have the authority to stop them.

Coaches’ Conundrum

Multiple high-profile FBS coaches [[link removed]] have slammed the new NIL developments, including Clemson’s Dabo Swinney, Alabama’s Nick Saban, and UNC’s Mack Brown.

“It needs to be stopped — or it’s going to change the direction of college football,” Brown said [[link removed]] Tuesday following spring practice.

It’s unclear whether NIL collectives themselves will severely alter the recruiting landscape or just become the latest tool for the wealthiest programs and their allies to bait recruits — as they already do with perks like lavish locker rooms and other promises.

Braves Throw A Curve, Ask for $200M in Public Funding

Dale Zanine-USA TODAY Sports

The Atlanta Braves have reversed their stance on not asking for public funding for a development in Cobb County, submitting a $200 million request [[link removed]].

The team had pledged to privately develop the area surrounding Truist Park, which opened in 2017 with the help of $300 million in public funds.

Representatives of the Braves and Truist Financial presented a proposal to Cobb County officials on Tuesday asking for tax breaks to help cover the cost of a planned $200 million, 250,000-square-foot office tower overlooking the ballpark.Braves officials disputed the notion that they were going back on their word, saying that the team isn’t asking for the tax breaks, “Truist is.”The bank holding company will lease space in the new development, which will be owned by the Braves. Public Enemy

The Buffalo Bills secured $850 million, including $600 million from New York State — a deal that did not poll well among New Yorkers. On Tuesday, the Carolina Panthers terminated [[link removed]] a planned $800 million headquarters over a public funding dispute.

Commissioner Rob Manfred has reportedly sought [[link removed]] to retain a precedent of public funding for new stadiums, which could complicate a potential move to Las Vegas by the Oakland A’s.

It is not clear if a lack of public funds would derail the planned development. Truist has already announced relocations related to the development, and a representative from the bank said the funding was “one factor” that would determine the scope of the project.

SPONSORED BY GRIN

Influencer Marketing Should Be Easy

GRIN [[link removed]] is the pioneer behind the world’s first Creator Management platform, designed for the next generation of brands who recognize that, in the creator economy, authenticity is everything.

GRIN helps you find and recruit the perfect ambassadors for your brand, streamlines the communication process, collects all creator content in one place, and tracks your ROI in real time so you can create smarter campaigns [[link removed]] that drive sales.

Thousands of the world’s fastest-growing brands – including SKIMS, Warby Parker, Allbirds, Mejuri, and MVMT – use GRIN to make creators feel like trusted, empowered partners and work with them to build their brands into household names.

Find out [[link removed]]how GRIN can help you grow your brand today.

Conversation Starters Colorado Rockies’ outfielder Charlie Blackmon is teaming up [[link removed]] with online sportsbook MaximBet in which Blackmon will appear as a brand ambassador in marketing campaigns and attend fan events. Blackmon is the first active MLB player to endorse a bookmaker in the U.S. Adidas has been sued [[link removed]] by a Florida man for “deceptive representations” of its authentic jerseys. Rival has entered an agreement with the Professional Fighters League to launch [[link removed]] the league’s dedicated gaming community. DAZN is launching [[link removed]] a new betting product called DAZN BET through a multiyear deal with Pragmatic Group. Question Of The Day

Have you ever purchased any Lululemon men's products?

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

Wednesday’s Answer

39% of respondents like watching pro football in the spring.

Disclaimer

*Please note that these are historical returns for the sports card market as a whole, based on research conducted by PWCC, and do not reflect the value of, or potential returns on this individual collectible.

**This Reg A+ offering is made available through StartEngine Collectibles Fund I, LLC. No broker-dealer or other intermediary is involved in this offering. StartEngine Collectibles Fund I, LLC is not currently accepting investments from WA, NJ, FL and TX. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. Please see the Offering Circular [[link removed]]and Related Risks [[link removed]]for more information.

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

MORE FROM FRONT OFFICE SPORTS:

The Leadoff [[link removed]] - Daily business of sports podcast

Front Office Sports Pro [[link removed]] - The most promising opportunities where sports meets industry

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

Copyright © 2022 Front Office Sports. All rights reserved.

80 Pine Street Suite 3202 New York, NY 10005

If this email was forwarded to you, you can subscribe here [[link removed]].

Advertise [[link removed]] / Update your preferences [link removed] / Unsubscribe [link removed]