June 9, 2022

Read in Browser [[link removed]]

POWERED BY

Could Milwaukee get a pro soccer team soon? A firm purchased 11 acres from Marquette University to develop a downtown sports and entertainment district. Included in the plan is an 8,000-seat soccer stadium, indoor concert venue, and 140-room hotel. It’s set to debut in 2024.

NFL Toasts $2B in Sponsorships with E. & J. Gallo Deal [[link removed]]

Kirby Lee-USA TODAY Sports

With its latest deal, the NFL can raise a glass to another milestone.

A pact with California winemaker E. & J. Gallo has the league nearing $2 billion in sponsorship deals for the first time. The brand becomes [[link removed]] the NFL’s official wine sponsor and will have exclusive pouring rights at major events including the Super Bowl and Pro Bowl.

“The partnership is uniquely structured to engage NFL fans and will include opportunities for local team activation, player imagery and appearances, on-site presence at premiere events, and broadcast, digital, and social content,” the league noted.

The deal means [[link removed]] that every item at the NFL bar is spoken for, with Anheuser-Busch retaining beer rights and Diageo covering hard alcohol. Last year’s Diageo deal, worth a reported $30 million annually, made the company the NFL’s first hard alcohol sponsor.

Major Milestone

The NFL is now on course to pass $2 billion in sponsorships for the first time.

The league hit a record $1.8 billion in deals last year.It had $1.6 billion in 2020.

Tech companies contributed [[link removed]] the largest chunk in 2021, followed by gambling and alcohol companies. Verizon’s deal with the NFL has reached as high as $300 million per year.

China Telecom In Pole Position for Formula 1 Digital Rights [[link removed]]

John David Mercer-USA TODAY Sports

Netflix isn’t the only company looking to Formula 1 to make a move in live sports broadcasting.

China Telecom is closing in on local digital rights for Formula 1, per [[link removed]] SportBusiness. Should a deal be finalized, it would represent a significant expansion for the telecommunications giant, which hasn’t been a major player in sports broadcasting.

Last year, 70.8 million people in China watched [[link removed]] at least one F1 race.That figure was the highest among all countries and represented a 13% year-over-year increase.Globally, F1 had 445 million unique viewers in 2021.

China Telecom was spun off onto the Hong Kong stock exchange by state-owned China Telecommunications Corporation in 2002. It had 121 million subscribers on its Internet Protocol television platform at the end of last year, along with 372.4 million mobile subscribers and 170 million broadband users.

It has a market capitalization of $50.3 billion.

State of the States

F1’s growth in the U.S. has spurred American companies to more than double their presence through sponsorships and partnerships, according to Williams Racing’s commercial director James Bower, who said that U.S. companies have increased from 45 to 108 since 2015.

“Formula 1 is undeniably the most data-driven sport on the planet, so we’re seeing this huge influx of tech companies, particularly from North America,” said Bower.

SPONSORED BY OUTER

A Facelift For Your Yard

Get ready for warm weather entertaining now with Outer [[link removed]], the apex of outdoor furniture.

Outer created the most stylish and comfortable outdoor sofa in the world. Now your neighbors will never miss a BBQ at your place thanks to Outer’s triple-layer memory foam [[link removed]] cushions and unparalleled design.

What’s more? You have three signature collections to choose from: classic All-Weather Wicker, timeless Teak, and sleek Aluminum.

Complete your outdoor living room with a fire pit table that doubles as a hibachi grill and a durable, eco-friendly rug made from 100% post-consumer plastics.

Start your redesign [[link removed]] today.

Big Ten Media Deals Expected to Top $1B Annually [[link removed]]

Aaron Doster-USA TODAY Sports

The Big Ten is nearing a record set of media deals expected to top $1 billion annually.

Fox Sports has a deal in place to remain the college conference’s largest media partner — but how big a piece of the pie and who else will get a slice have yet to be determined, per [[link removed]] Sports Business Journal.

The Big Ten currently partners with Fox, Disney-owned ABC and ESPN, and CBS.Disney, NBC, CBS, and Amazon are all vying for a part of the conference’s next media package.Warner Bros. Discovery and Apple are both involved in discussions with the conference but are considered long shots for now.

A new deal would begin in the fall of next year. The conference currently distributes $54 million to each of its schools.

Conference Realignment

CBS will lose [[link removed]] SEC football rights to Disney in Fall 2024, creating a gap it could potentially fill with the Big Ten. ESPN and ABC are hoping to retain the Big Ten but may face an overcrowded schedule.

Amazon and Apple, both of which have been seeking sports rights to bolster their streaming services, represent a new variable in the talks.

The Big Ten negotiations could set the stage for other Power 5 conferences. The Pac-12 and Big 12, both of which currently partner with Fox and ESPN, will be seeking new deals when their respective contracts expire after the 2023-24 and 2024-25 seasons.

NBA Top Shot Investor Reports $573M in Revenue [[link removed]]

Animoca Brands

Software and venture firm Animoca Brands generated $573 million in revenue over the first four months of 2022.

The results for the investor in NBA Top Shot and Fan Controlled Football were driven by its diverse portfolio of investments and the sale of NFTs, including those on the secondary market.

Animoca Brands holds [[link removed]] digital assets reserves of roughly $4.2 billion.The company had a cash balance of $98 million for the first four months of 2022.Over the past seven months, Animoca Brands has generated [[link removed]] $721 million in revenue.

Animoca Brands also announced a series of acquisitions during the four-month period.

In February, the company acquired [[link removed]] indie game developer Grease Monkey Games. Two months later, it agreed [[link removed]] to purchase 70% of Paris-based game developer Darewise Entertainment, which included “Need for Speed” developer Eden Games after Darewise purchased the racing game studio in the same month.

Big Boost

Animoca Brands, which has more than 340 investments totaling over $1.5 billion, raised [[link removed]] $360 million in new funding in January, valuing the Hong Kong-based company at $5.4 billion.

To date, Animoca Brands has raised roughly $700 million in total capital.

Animoca Brands could be closing in on another financial boost [[link removed]] from private equity firm KKR & Co. The firm is in talks to lift Animoca’s latest funding round from $360 million to $500 million.

SPONSORED BY TECHSTARS

One-Zero Sports & Entertainment Venture Summit

The premiere sportstech event of the summer is almost here – focused on venture capital, high growth startups, and disrupting trends in areas like sports media, connected fitness, sports betting, fan engagement, ticketing, and more!

Join Techstars on July 6-8 in Indianapolis for The One-Zero Sports & Entertainment Venture Summit [[link removed]].

Each session will feature top sports venture capitalists and founders who are investing and building within sportstech categories. The VC’s include Ian Doody at PowerHouse VC and Edward King at Acies, among others. Founders include Jeremy Levine at Underdog, Khalil Zahar at Fight Camp, NBA All-Star and entrepreneur Baron Davis and more.

The summit will also include the 2022 Techstars Sports Accelerator [[link removed]] Demo Day, powered by Indy. Each ticket includes access to panels, fireside chats, demo day pitches, VIP networking sessions, food, and drinks.

Get your tickets now [[link removed]].

Conversation Starters On his first day as head coach of the Los Angeles Lakers, Darvin Ham announced [[link removed]] that he’s firing three assistant coaches and is looking to add former All-Star Rasheed Wallace to his staff. Bryson DeChambeau and Patrick Reed — who have both won majors on the PGA Tour — are the latest to join [[link removed]] the LIV Golf Invitational Series. From the PGA Championship to the French Open & the Indy 500, Atmosphere Sports is bringing sports back to the center. Learn more [[link removed]].* Daktronics partners with the Los Angeles Clippers to deliver the largest ever double-sided halo display in an arena setting to Intuit Dome. It features 38,000+ square feet to provide the most intense live experience for Clippers Nation. Learn more [[link removed]].*

*Sponsored Content

Question Of The Day

Have you tried E. & J. Gallo wine?

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

Wednesday’s Answer

61% of respondents plan to watch the 2023 Women’s World Cup.

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]]

MORE FROM FRONT OFFICE SPORTS:

The Leadoff [[link removed]] - Daily business of sports podcast

Front Office Sports Pro [[link removed]] - The most promising opportunities where sports meets industry

Front Office Sports Scoreboard [[link removed]] - The biggest stories in sports and the numbers behind them

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

Copyright © 2022 Front Office Sports. All rights reserved.

80 Pine Street Suite 3202 New York, NY 10005

Advertise [[link removed]] / Update your preferences [link removed] / Unsubscribe [link removed]