June 2, 2022

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The Dallas Cowboys, Houston Texans, and the NFL Foundation are sending a combined $800,000 to support the Uvalde community following the shooting at Robb Elementary School that left 19 students and two teachers dead. The money will go to the Robb School Memorial Fund and the Uvalde Strong Fund.

Study Shows New NFL Stadium Could Generate $24.7B for Virginia [[link removed]]

Washington Commanders

An economic impact analysis commissioned by the Washington Commanders shows that the team could be a major financial force in Virginia.

The study, conducted by JLL Sports & Entertainment, found that a new stadium and surrounding development would bring in $24.7 billion in direct economic activity and support 2,246 jobs by 2033, according to [[link removed]] the Richmond Times Dispatch.

The project is projected to generate $3 billion in tax revenue over 30 years.Plans call for a 55,000-seat stadium, which would be the smallest in the NFL. The Commanders’ current home, FedEx Field in Maryland’s Prince George’s County, holds 82,000. Stadium designs feature a translucent roof and color-changing exterior.

The $3 billion mini-city project would also include an amphitheater, restaurants, bars, office space, and a convention center.

The team recently purchased [[link removed]] an option on 200 acres of land in Virginia’s Prince William County for $100 million.

Snyder Under Pressure

The biggest hurdle to a stadium deal may be the team’s owner, Dan Snyder. Three Virginia legislators pulled their support for a $350 million subsidy for the project, citing the fact that Snyder is the subject of an ongoing congressional investigation.

A House Oversight Committee probe is looking into financial improprieties, hostile workplace claims, and sexual misconduct allegations against Snyder himself.

A vote on stadium financing was pushed back [[link removed]] in light of legislators’ concerns.

Barcelona Needs $750M Cash Injection [[link removed]]

FC Barcelona

FC Barcelona is seeking approval for a cash injection of up to $750 million.

The fresh capital has been deemed necessary to alleviate the La Liga soccer club’s recent financial woes. In March 2021, Barcelona was technically bankrupt [[link removed]], and three months later the club borrowed $605 million from Goldman Sachs.

In October 2021, Barcelona reported $1.56 billion in debt.

The investment would also allow Barcelona to reshape its roster during the player transfer window, as it currently [[link removed]] has a spending cap of -$153 million — the only negative limit in La Liga.

Barcelona could receive [[link removed]] the money by selling future media rights and a minority stake in its Barca Licensing & Merchandising subsidiary.

The club is willing to offload up to a 49.9% stake in its BLM business.A sale of the stake could provide Barcelona with $214 million in cash.It is also asking permission to sell up to 25% of its media rights revenue.The club’s media rights deals could fetch as much as $536 million.

Whether or not Barcelona can follow through with its plan will depend on a vote by club members during an assembly hearing on June 16.

Future Spending

Barcelona’s financial uncertainty didn’t stop members of the club from voting [[link removed]] to renovate the 64-year-old Camp Nou with up to $1.69 billion in funding last December.

The club claims the renovations could generate $225.7 million a year through hospitality, VIP boxes, catering, ticketing, sponsorship, and naming rights, as well as meetings and events.

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In this winner takes all, best of seven series, get ready for edge-of-your-seat action on the hardwood.

Head to Ticketmaster [[link removed]] for all the info and to score tickets to this year’s finals.

Gatorade Dropping NHL to Focus on College, Women’s Sports [[link removed]]

Jean-Yves Ahern-USA TODAY Sports

Pepsi is shifting its focus from the biggest U.S. sports leagues to college athletes, women’s sports, and the metaverse.

Months after declining to renew its sponsorship deal for the Super Bowl Halftime Show, the company is making [[link removed]] the same decision for Gatorade’s affiliation with the NHL.

The NHL and Gatorade have partnered since 2006, with the most recent renewal coming in 2018.“We didn’t want to overcommit in one space, instead focusing on reaching as many athletes as we can,” Jeff Kearney, Gatorade’s global head of sports marketing, told Boardroom. He added that the two sides “weren’t aligned on the financial commitment to renew.”Pepsi did renew its partnership with the NFL across multiple brands including Gatorade, the company said last week. Youth Movement

Gatorade is shifting its focus to “young and diverse athlete communities [and] cutting-edge leagues,” according [[link removed]] to Kearney.

He cited the brand’s NIL deals with University of Connecticut basketball star Paige Bueckers and Jackson State quarterback Shedeur Sanders, as well as Gatorade’s status as founding partners of Overtime Elite and Angel City Football Club.

Kearney also hinted at coming announcements on Gatorade’s entrance into fantasy sports and Web3 technologies including the metaverse.

Wasserman Makes First Investment in Rugby [[link removed]]

Rafael Suanes-USA TODAY Sports

Wasserman, one of the largest sports and entertainment agencies in the world, is establishing a presence in a sport with more than 500 million fans.

Wasserman has acquired [[link removed]] Esportif, a rugby-focused talent agency with a global reach across all of the sport’s key territories.

With the acquisition, Wasserman will create its first division dedicated solely to rugby.

Esportif has offices [[link removed]] in 13 different territories across the world.A team of more than 40 Esportif executives and agents will join Wasserman immediately.

Wasserman tapping into rugby is the latest evidence of growing interest in the sport among American companies and decision-makers. The World Rugby Council voted [[link removed]] last month 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 sale [[link removed]] of a 5.7% stake in New Zealand Rugby’s commercial rights to California-based private equity firm Silver Lake for $130.6 million is also up against a critical vote to gain approval.

Approval of the sale could value NZR CommercialCo at more than $2 billion.

Growing Business

Wasserman, founded by Casey Wasserman in 1998, has made recent efforts to expand its reach in the sports and entertainment industries. In January, the company agreed [[link removed]] to acquire The Montag Group, a talent agency with clients that include Jim Nantz, Mike Tirico, and other high-profile sports broadcasters.

Financial terms of the deal were not disclosed, but it will require The Montag Group to end its partnership with Jay-Z’s Roc Nation.

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Conversation Starters Shortly after Dustin Johnson surprised the golf industry by joining the new Saudi-backed LIV Golf Invitational, sponsor RBC (Royal Bank of Canada) ended [[link removed]] its relationship with the two-time major winner. Louis Vuitton has created [[link removed]] a new official travel trunk for the NBA’s Larry O’Brien Trophy, which has been refurbished by Tiffany and Co. to commemorate the 75th NBA season. On Tuesday, Kansas City Royals infielder-turned-reliever Jose Cuas made his MLB debut [[link removed]] in a 8-3 loss to the Cleveland Guardians after nearly quitting baseball twice. From the PGA Championship to the French Open & the Indy 500, Atmosphere Sports is bringing sports back to the center. Learn more [[link removed]].*

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Question Of The Day

Do you attend in-person fitness classes?

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

Wednesday’s Answer

36% of respondents have attended an NHL game this season.

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

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