June 1, 2022

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Derek Jeter finally joined Twitter and Instagram — and his first tweet was a response to an eight-year-old tweet. Within six hours of creating his accounts, Jeter blew past 100,000 followers on each platform. Welcome to social media, Captain.

Indianapolis 500 Brings in 325,000 Fans, Record Purse [[link removed]]

Mark J. Rebilas-USA TODAY Sports

The Indianapolis 500 came roaring back on Sunday, welcoming 325,000 fans.

The race was the first since the start of the pandemic in which the Indianapolis Motor Speedway was open to fans without any restrictions.

While it remains uncertain whether the rising popularity of Formula 1 in the U.S. will hurt or lift U.S.-based racing series such as IndyCar, the showing demonstrated resilience for the flagship event.

The crowd was the second-largest in 20 years, behind only the 100th running of the race in 2016.The venue has 250,000 permanent seats and can accommodate around 350,000.The Indy 500 allowed 135,000 fans last year, and none in 2020.

The event was blacked out [[link removed]] on local television broadcasts in an effort to boost ticket sales, but all fans were able to watch on NBC’s streaming service, Peacock. NBC attempted to comply with the blackout but was unable to devise a technological solution to exclude a geographical area that small.

Record Prize

Indy 500 winner Marcus Ericsson, who came to Indy from F1, took home $3.1 million, a record [[link removed]] top prize for the event. Second place Pato O’Ward earned $1 million, which was among the highest totals for a runner-up.

Average driver winnings reached $485,000.

Arizona Coyotes Arena Project Nears Key Vote [[link removed]]

Arizona Coyotes

The Arizona Coyotes could be on the path to a new arena, but the next steps are fraught with complications.

Tempe’s city council will vote [[link removed]] on Thursday whether or not to begin formal negotiations on a $1.7 billion mini-city development centering [[link removed]] on a new arena for the NHL team.

Bluebird Development, owned by Coyotes owner Alex Meruelo, submitted a proposal for an arena project that would include hotels, offices, stores, and housing on 46 acres of city land.Bluebird is seeking $200 million from the city in sales tax revenue derived from the project to help pay for infrastructure costs.A “yes” vote from the council does not indicate approval of the project, but allows Bluebird to enter a lengthy negotiation phase with the city.

The project would fall under Phoenix Sky Harbor Airport’s flight path, and airport officials have stated concerns around building heights and the development’s proximity to runways. The project will need approval from the Federal Aviation Administration.

The city of Phoenix has stated [[link removed]] that plans for 1,000 residential units would violate a 1994 agreement on land use agreed to by the two cities.

Cozy Confines

The proposed project represents a path out of the team’s peculiar playing arrangement [[link removed]].

After facing a potential lockout from the city of Glendale over unpaid taxes, the team will play at least the next three seasons at Arizona State University, which has a capacity of 5,100.

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Majority of Premier League Teams Raising Ticket Prices [[link removed]]

Premier League

More than half of the Premier League’s 20 teams are raising season-ticket prices for fans.

England’s top-flight soccer league will see 11 of its clubs increase [[link removed]] the asking price for season-long admission to some of the most-watched games in sports. The increase marks a significant jump from the six teams that raised season-ticket prices in 2021 amid the pandemic.

The price hike follows heavy losses of potential matchday revenue due to fan restrictions at stadiums and inflationary pressures felt by Premier League clubs and fans around the world.

Only eight clubs will freeze top season-ticket prices for the 2022-23 season. Tottenham Hotspur, which sells the most expensive Premier League season pass at $2,562, has frozen its ticket prices for next year.Arsenal sells the cheapest season pass at $1,168, a 14% increase year-over-year.

In addition to raising ticket prices, Premier League clubs will also deepen their pockets after they split [[link removed]] roughly $3.3 billion in prize cash and central funds for the 2021-22 season.

Manchester City, the Premier League’s current champion, is set to pocket roughly $206 million from the payments, slightly ahead of the $205 million second-place Liverpool expects.

Hefty Losses

Manchester United, owned by the Glazer family, generated [[link removed]] $192 million in revenue in fiscal Q3, but experienced a net loss of $35 million compared to $23 million in Q3 2021.

Tottenham posted [[link removed]] $106.9 million in pre-tax losses for the fiscal year ending June 30, 2021.

$130M Sale of New Zealand Rugby Stake Faces Vote [[link removed]]

Rafael Suanes-USA TODAY Sports

The sale of a minority stake in New Zealand Rugby’s commercial rights to California-based private equity firm Silver Lake for $130.6 million is up against a critical vote to gain approval.

Silver Lake agreed [[link removed]] to acquire a 5.7% stake in NZR CommercialCo, a division of New Zealand Rugby that houses all revenue-generating assets of the governing body. The pending sale — agreed to in February 2022 — was approved [[link removed]] by New Zealand Rugby’s players union after some reluctance.

Members of New Zealand Rugby will vote on Thursday at a special general meeting.Approval of the sale could value NZR CommercialCo at more than $2 billion.

The process for Silver Lake to invest in New Zealand Rugby — the owner of the All Blacks team — has been arduous. A report [[link removed]] from April 2021 revealed that Silver Lake offered $279 million for a 12.5% stake in the commercial entity, but the players union opposed the deal.

Players for the All Blacks — named for their iconic team shirt — say investment could also taint [[link removed]] their rugby traditions. The All Blacks have won more than 75% of their test matches and three of nine Rugby World Cups.

Rugby Investment in the U.S.

World Rugby, which has 10 million registered [[link removed]] players, is exploring investment opportunities with private equity firms including CVC Capital Partners, per the Financial Times.

The World Rugby Council recently voted [[link removed]] to give the U.S. bids for the Men’s Rugby World Cup in 2031 and the Women’s Rugby World Cup in 2033. The total cost of hosting both events could reach $500 million, according to USA Rugby.

IN PARTNERSHIP WITH KAULIG RACING

Forming the Next-Gen Racing Team

To build a winning team, Matt Kaulig established core values – having fun and being competitive. Whether in business or in sports, he knew that to win he had to build the best.

And that approach paid off – in NASCAR’s history, Kaulig Racing [[link removed]] is the fastest team to reach a win in the last 50 years.

In the second episode [[link removed]] of our new series, Behind the Wheel With Matt Kaulig, our Editor in Chief Ernest Baker chats with Matt Kaulig about the team’s early success, going from a one-car team to a three-car team, acquiring two charters, and partnering with Chris Rice.

Watch now [[link removed]].

Conversation Starters After months of lobbying by the Washington Commanders, the bill that would create [[link removed]] the Virginia Football Stadium Authority and establish a committee to determine the best site for the $3 billion domed stadium project was shelved Tuesday. Maria Taylor will host [[link removed]] NBC Sports’ coverage of the French Open’s women’s and men’s semifinals and finals, which will be played June 2-5. Kanye West and Donda Sports have signed [[link removed]] NFL star defensive lineman Aaron Donald and Boston Celtics guard Jaylen Brown, per TMZ. Coco Gauff celebrated her high school graduation at the Eiffel Tower — and on Tuesday at Roland Garros, the 18-year-old reached [[link removed]] her first career Grand Slam semifinal. Question Of The Day

Have you attended any NHL games this season?

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

Tuesday’s Answer

14% of respondents have purchased a personal seat license.

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

Written by Owen Poindexter [[link removed]], Justin Byers [[link removed]] Edited by Matthew Tabeek [[link removed]]

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Front Office Sports Learning [[link removed]] - Professional education at the speed of culture

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