From Front Office Sports <[email protected]>
Subject FOS PM: U.S. Soccer Pay Now Equal
Date May 18, 2022 8:26 PM
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May 18, 2022

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The 2022 NHL Stanley Cup Playoffs are off to their best start ever on U.S. cable. The first round averaged 768,000 viewers — up 58% from last year, according to the league. 🏒

U.S. Soccer Makes History With Equal Pay Deal

Bruce Kluckhohn-USA TODAY Sports

History was made on Wednesday when U.S. Soccer and the men’s and women’s national teams announced a collective bargaining agreement that will see the teams’ athletes receive equal pay.

The agreement [[link removed]], which begins on June 1 and runs through 2028, will see World Cup prize money pooled between both teams and split equally.

Despite participating in nearly every World Cup since 1990, the U.S. men’s team has never won the tournament. The nation’s women have, but haven’t been paid nearly as much as men’s winners.

France’s men’s team received $38 million after winning the 2018 World Cup.The USWNT, which won one year later, only took home $4 million.

The women will have the same pay-to-play payment structure as the men — not all women’s players will have guaranteed salaries. The teams will also split revenue made commercially (10% of revenue between $55 million and $75 million and 15% above $75 million) and at events.

ESPN reported [[link removed]] that players will receive the same amounts for the U.S. Soccer Federation-controlled matches: $18,000 for a win, $12,000 for a draw, and $8,000 for a loss if the opposing team is ranked in the top 25.

A Win for Women

The announcement outlined [[link removed]] other benefits including equality of venues, accommodations, and team staffing.

The agreement also finalizes the USWNT’s February equal pay settlement, in which the USSF will pay $22 million to the players.

Major League Cricket Secures $120M to Expand

MLC

Major League Cricket has closed a $44 million Series A and A1 funding round, which includes an additional commitment of $76 million over the next 12 months.

MLC will be America’s first-ever professional Twenty20 cricket league — a shortened, faster format of cricket that was introduced to the professional ranks in England in the early 2000s.

The league will officially begin matches in 2023.

Co-led by Microsoft CEO Satya Nadella, MLC’s latest funding round will allow the league to expand the reach of the world’s second-most popular sport in a burgeoning U.S. sports market.

The $120 million investment will primarily go toward building stadiums and training centers.It will also facilitate hosting global cricket events in the U.S. over the next decade.

Cricket is on the rise in the States beyond the MLC investment.

The Knight Riders Group, owners of the Indian Premier League’s Kolkata Knight Riders, is reportedly [[link removed]] investing about $30 million to build a 10,000-seat cricket stadium in Southern California.

Lucrative Venture

Media rights for cricket have become a hot commodity as the IPL prepares to accept bids for a new five-year deal.

The rights are currently owned by Disney through its acquisition of Star India in 2019. Star India paid [[link removed]] $2.6 billion for the rights in 2017. A new deal could surpass $6 billion.

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Sportradar Revenue Jumps 31% in Q1

Sportradar

Sportradar pulled in $186.4 million in revenue in Q1 2022, a 31% increase compared to the same period last year.

Despite the results, shares of Sportradar have been down more than 15% in recent weeks, but the company expects double-digit growth in FY2022.

Athletes Unlimited hired the company in February to protect its competitions.In March, it struck a partnership with Bowl Season to advise on sports betting. It announced an integrity services agreement with NASCAR in April.The same month, it acquired iGaming AI and machine learning company Vaix.

Growth has come with hefty costs for the Switzerland-based company.

Sportradar reported its personnel expenses reached $55 million in Q1 2022, up $14 million compared to the first quarter of 2021. Total sports rights costs hit $57 million during the quarter.

Change of Plans

Sportradar planned to go public last March via a merger with Horizon Acquisition Corp., a SPAC backed by Los Angeles Dodgers and Lakers co-owner Todd Boehly. The deal dissolved following SEC-issued guidance regarding how SPAC investments are classified.

The company eventually went public in September 2021 after raising $513 million in an IPO at a valuation of just under $8 billion.

Conversation Starters In The Leadoff, Disney’s investment in sports gets stronger, On Running reports record first-quarter earnings, Barcelona eyes deals to help with financial woes, and federal funds are finding their way to race tracks. Click here to listen [[link removed]]. The NBA is reportedly [[link removed]] exploring options for an in-season tournament beginning in the 2022-23 season, among other rule changes. The Orlando Magic won [[link removed]] the first overall pick at Tuesday’s NBA Draft Lottery, but Oklahoma City Thunder nabbed the second and 12th overall picks. Tiger Woods, Rory McIlroy, and Jordan Spieth, who boast a combined net worth exceeding $1 billion, will play together for the first two days of the PGA Championship. Subscribe to Scoreboard for more [[link removed]].

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Market Movers

U.S. stocks experienced declines across all three major indexes on Wednesday. Here’s a look at how sports-related stocks performed:

WWE [[link removed]]

World Wrestling Entertainment, Inc.

[[link removed]]

$60.28

[[link removed]]

+1.88%

[[link removed]] CMCSA [[link removed]]

Comcast Corp

[[link removed]]

$42.15

[[link removed]]

-0.73%

[[link removed]] VFC [[link removed]]

VF Corp.

[[link removed]]

$46.02

[[link removed]]

-2.09%

[[link removed]] GOLF [[link removed]]

Acushnet Holdings Corp

[[link removed]]

$41.07

[[link removed]]

-2.24%

[[link removed]] MGM [[link removed]]

MGM Resorts International

[[link removed]]

$33.01

[[link removed]]

-5.95%

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