May 9, 2022

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The NFL’s 2022 regular-season schedule will be announced this Thursday, but teams already know their opponents and how far [[link removed]] they’ll be traveling this season.

The Seattle Seahawks will travel 29,466 miles and change time zones 34 times, while the Pittsburgh Steelers will log just 6,442 miles — and won’t even leave the Eastern time zone.

Oracle Red Bull, Crypto.com Enjoy International Spotlight at Miami Grand Prix

Red Bull Racing

Max Verstappen won the first ever Formula 1 Crypto.com Miami Grand Prix on Sunday, taking the podium surrounded by turquoise walls in front of around 85,000 fans, capping a huge week for Oracle Red Bull Racing and F1.

Red Bull — and now Oracle, which joined the Formula 1 team as a title sponsor in February in a deal worth a reported [[link removed]] $500 million — have seen major benefits from Formula 1’s rapidly growing presence and fanbase [[link removed]] in the U.S.

On Thursday, Oracle Red Bull gained a sponsor with a distinct tie to the race: Hard Rock, which holds naming rights to the Hard Rock Stadium race site in an 18-year, $250 million deal.

“We obviously have engaged very heavily in the corporate world,” said team principal Christian Horner.

Uniting with Oracle has been uniquely fruitful for both sides.

“We knew we needed to start looking into tools like AI and ML to advance our capabilities as a business,” Zoe Chilton, Oracle Red Bull Racing’s head of partnerships, told Front Office Sports.Oracle lends technical expertise to Red Bull’s fan platform, The Paddock, as well as its race simulations. Crypto Connection

The weekend also brought heaps of exposure to its title sponsor, Crypto.com.

“It became very clear that this wasn’t going to be just another race,” Crypto.com’s chief marketing officer Steven Kalifowitz told FOS. “This was going to be a global event that might only be rivaled by the FIFA World Cup in terms of international attention.”

The crypto exchange announced last week that its user base rose from 10 million at the end of Q1 2021 to a current tally of 50 million.

RedBird Capital Flocks to AC Milan Bid

AC Milan

RedBird Capital Partners is reportedly in talks with AC Milan following the expiration of Investcorp’s exclusive negotiation period at the end of April.

Investcorp, the Middle East’s biggest alternative asset manager with around $41 billion in assets under management, was in exclusive [[link removed]] talks with current owner Elliott Management to purchase the team for $1.26 billion including debt, but the pair have yet to agree on a deal.

They are reportedly [[link removed]] still in negotiations.

Should RedBird Capital come to an agreement with AC Milan, the investment group will further strengthen its sports portfolio.

RedBird is an investor in Fenway Sports Group, which owns Liverpool FC, the Boston Red Sox, an 80% stake in the New England Sports Network, and a 50% stake in Roush Fenway Racing.In November, FSG agreed [[link removed]] to acquire controlling interest in the Pittsburgh Penguins.RedBird also has a controlling stake in France’s Ligue 2 club Toulouse, which will soon be promoted to Ligue 1.In November, the group invested [[link removed]] in Dream Sports, whose primary brand is Dream11.

Elliott Management became the owner of AC Milan in 2018 after Li Yonghong defaulted on debt obligations.

Far From Settled

Investcorp is reportedly [[link removed]] unphased by RedBird’s negotiations — the latter has around $6 billion in assets under management.

Investcorp is reportedly trying reach the team’s asking price with the help of other investors, which could include Goldman Sachs, JP Morgan, and Ares Capital.

SPONSORED BY FIDELITY

Winning With Imperfect, Chaotic Fun

Shawn Johnson East achieved her dreams of being an Olympic athlete and gold medalist by age 16. So naturally, when she retired four years later, she wasn’t sure what would come next.

The fame Shawn gained on the global stage presented her with opportunities on TV shows like Dancing with the Stars and Celebrity Apprentice, but her second act goes far beyond network TV.

She has published several books, is part-owner of a professional soccer team, and manages dozens of other businesses with her husband. She’s also a mother of two young children, the stars and subjects of their viral YouTube channel, The East Family.

Check out the latest episode of Second Acts [[link removed]], presented by Fidelity [[link removed]], to learn more about Shawn’s chaotic next chapter.

Under Armour Posts $60M Net Loss in Q4 As Stock Price Drops

Under Armour

Under Armour suffered a net loss in the fourth quarter of the 2022 fiscal year and posted a 2023 financial outlook that appeared less than impressive for investors.

After the numbers were released on Friday, its stock price dropped [[link removed]] about 25%.

The company posted a net loss of about $60 million and an adjusted net loss of $3 million.But total revenue did increase 3% compared with the same period in 2021, totaling $1.3 billion.Apparel revenue rose 8%, for a total of $877 million — though footwear sales dropped 4% for a total of $297 million.

Under Armour expects revenue to increase 5% to 7% in fiscal 2023. The company projects to reach $375 million to $400 million in operating income, compared to a baseline figure of $424 million.

The sports apparel giant attributed the underwhelming numbers to factors such as the pandemic, supply chain issues, and inflation.

Global Outlook

In North America, Under Armour saw revenue increase 4% to $841 million.

In Asia-Pacific, however, revenue dropped 14% while Latin America saw a 6% drop. In total, international sales only rose 1% to $456 million.

Vista Outdoor Reports Record Quarter, Plans for 2 Companies

Vista Outdoor

Vista Outdoor announced record fourth-quarter and fiscal-year results in its latest earnings report.

The outdoor recreation and sports company posted [[link removed]] $809 million in sales in fiscal Q4, a 36% increase year-over-year. The results were driven by strong demand across the company’s sporting goods and outdoor products segments.

Vista Outdoor also announced [[link removed]] a plan to split those two segments into two publicly traded companies. The transition is expected to be completed in FY2023.

The company’s sporting products segment saw $464 million in sales in fiscal Q4, up 56% year-over-year, while its outdoor segment generated $345 million in sales during the quarter. Total sales in FY2022 reached a record $3 billion, a 37% increase compared to the year prior.

Vista Outdoor has diversified its portfolio through a series of major acquisitions.

In May 2021, the company acquired Hevi-Shot, adding to its ammunition portfolio.The company acquired e-bike maker QuietKat and female-focused hunting brand Venor.It purchased golf tech company Foresight Sports for $474 million last September.Earlier this year, it acquired [[link removed]] Montana-based hunting gear company Stone Glacier. Investment in Sports

Vista Outdoor is looking to build on its recent success with further investment in sports and is actively seeking investment opportunities.

“We’ve positioned ourselves as the acquirer of choice within the industry,” CEO Chris Metz told Front Office Sports.

SPONSORED BY SPONSORUNITED

Brands Partied Hard at This Year's NFL Draft

Fans are still buzzing about all the drama at this year’s NFL Draft. Multiple trades, surprising selections, and only one quarterback taken made this year’s first round an exciting one.

Not to mention all the partnership deals between name brands, teams, and players — some of the highlights from Round 1:

Tech and Apparel made up ⅓ of all deals among first round picks Wide receivers caught the most deals, but EDGE players tackled the most brands Rookies from Ohio State, Georgia, and Oregon closed the most deals (40% of all deals)

Gain key insights around broadcast sponsorships, draft party sponsorships, player deals, and more in SponsorUnited [[link removed]]’s 2022 Draft Report.

Download [[link removed]] the full report and request a demo [[link removed]] today.

Conversation Starters Eighty PGA Tour pros have reportedly [[link removed]] requested their release to participate in the Saudi-backed LIV Golf Series’ first event in June. UKG has struck a deal [[link removed]] with the NWSL that will directly increase player compensation and see UKG become the title sponsor for the 2023 Challenge Cup. For the 12th consecutive season, the New York Knicks were the most expensive [[link removed]] ticket in the NBA. Kevin Durant’s Thirty Five Ventures and Carli Lloyd have taken minority ownership stakes in Gotham FC. Lloyd spoke with [[link removed]] Front Office Sports about the investment in her home team. Question Of The Day

Did you watch the Formula 1 Miami Grand Prix over the weekend?

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

Friday’s Answer

36% of respondents plan to watch or attend a WNBA game this season.

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

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