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, 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 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 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 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 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 $2.6 billion for the rights in 2017. A new deal could surpass $6 billion.

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.