June 15, 2022

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Floyd Mayweather might beat LeBron James to the punch when it comes to owning an NBA team in Las Vegas. Mayweather says [[link removed]] he’s been working “behind the scenes” toward ownership of an NBA team — and prefers Sin City.

Disney Could Lose Out On More Than Just IPL Streaming Rights [[link removed]]

IPL

Disney left the Indian Premier League’s media rights auction with the tournament’s TV rights for $3 billion, but its streaming service could still lose an estimated 20 million subscribers.

Viacom18, a joint venture between Mukesh Ambani’s Reliance Industries, Paramount Global, and investment company Bodhi Tree Systems, snatched the streaming rights from Disney for [[link removed]] $2.6 billion.

Disney’s Star India held all of IPL’s media rights from 2017 to 2022 as part of a $2.5 billion deal.This year marked the first time the Board of Control for Cricket in India sold the broadcast and streaming rights individually.

Since Disney won’t be streaming any IPL matches, Media Partners Asia estimates [[link removed]] Disney+ could lose as many as 20 million subscribers — nearly 15% of the company’s current 138 million.

Of that total, around 50 million of those customers come from cricket-filled Disney+ Hotstar, which is offered in India and other countries in South Asia.

Disney CEO Bob Chapek didn’t seem too concerned in February about the potential of losing the bid. Hotstar subscribers only pay about 76 cents each month, totaling less than $500 million in annualized revenue.

“It’s not like we see that business evaporating if we don’t get it,” he said.

Remaining Rights

Viacom18 also won [[link removed]] a nonexclusive package covering 98 select matches for $417 million and rights for the U.K., Australia, and South Africa. Times Internet reportedly won rights in the U.S., Middle East, and North Africa.

The rights fetched $6.2 billion altogether.

La Liga Accuses PSG, Manchester City of Financial Foul Play [[link removed]]

UEFA Champions League

Manchester City and Paris Saint-Germain have secured some of the world’s top soccer stars — and La Liga is claiming the numbers don’t add up.

The top Spanish soccer league filed [[link removed]] a complaint with UEFA against Paris Saint-Germain this week after lodging a similar one against Manchester City in April, alleging both “are in continuous breach of the current Financial Fair Play rules.”

The rules introduce spending limits on teams based on revenue.

PSG’s 2021-22 payroll was an eye-popping $448 million, per Capology [[link removed]], led by Kylian Mbappé ($94.4 million), Lionel Messi ($66.1 million), and Neymar ($58.6 million). City’s was a more contained $179.9 million, but is likely to rise after the club brought in Erling Haaland from Borussia Dortmund on a $62.3 million transfer fee.

“La Liga understands that the irregular financing of these clubs is carried out either through direct injections of money or through sponsorship and other contracts that do not correspond to market conditions and do not make economic sense,” La Liga noted.

Middle East Money

Both clubs have attracted scrutiny for their ownership. PSG is owned by Qatar Sports Investments, a subsidiary of Qatar’s sovereign wealth fund. City is owned by United Arab Emirates prime minister Sheikh Mansour bin Zayed Al Nahyan through his Abu Dhabi United Group.

La Liga referred to them as “state clubs” in its announcement.

Both owners have access to vast sums of wealth but have been accused of sportswashing by human rights groups.

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Legends Acquires Stake in American Ultimate Disc League [[link removed]]

AUDL

Entertainment experiences company Legends has acquired a minority stake in the American Ultimate Disc League as part of a long-term deal between the two entities.

Terms of the deal weren’t disclosed.

Formed in 2012, the AUDL has 25 teams across the U.S. and Canada.Each team plays a 12-game regular-season schedule. AUDL’s majority owner is tech development company UltiX Technology.

As part of the pact, Legends — which began as a joint venture between Yankee Global Enterprises, an affiliate of the New York Yankees, and Dallas Cowboys owner Jerry Jones — will manage AUDL sponsorships, merchandise, acquisitions, and its media strategy.

Sixth Street purchased [[link removed]] a 51% stake in Legends in 2021, valuing the company at $1.35 billion.

Diverse Portfolio

Legends has expanded its reach through acquisitions and deals with some of the world’s most popular sports teams and organizations.

In January, Legends acquired analytics-focused digital media agency 4Front for between $15 million to $20 million, sources told [[link removed]] Front Office Sports.

Two months later, Manchester United appointed [[link removed]] Legends and architecture firm Populous to lead its consultants as the Premier League club plans renovations to Old Trafford expected to cost over $261 million.

In May, Real Madrid signed [[link removed]] a $381 million deal with Legends and investment group Sixth Street to host concerts and other events at the La Liga club’s 81,000-seat Santiago Bernabéu Stadium.

Legends also has a minority stake [[link removed]] in the Professional Fighters League, which it acquired last year.

Conversation Starters In The Leadoff, NFL team values rise 12% after Rob Walton’s $4.65 billion purchase of the Denver Broncos, Formula 1 may return to Africa after a 30-year hiatus, FIFA plans to announce its North American host cities for 2026 World Cup, and UFC teams up with DraftKings to create gamified NFTs. Click here to listen [[link removed]]. Through the first three rounds of the NHL Stanley Cup Playoffs, the games broadcast on ESPN and ESPN2 have averaged [[link removed]] 1.2 million viewers, a 30% increase year-over-year. The Los Angeles Dodgers are paying a staggering amount of money to their pitching staff — but their latest ace has yet to break six figures [[link removed]]. Tony Gonsolin — who threw 6⅓ scoreless innings in Tuesday’s win over the Los Angeles Angels — has the lowest ERA in MLB this season. Subscribe to Scoreboard for more [[link removed]]. Want to stay at a resort in the mountains of Park City, Utah? Now is your chance! Enter to win [[link removed]] a grand-prize sweepstakes from Dollar Flight Club valued at $2,000. Official rules found here [[link removed]].*

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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.

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Market Movers

U.S. stocks were mixed on Wednesday. Here’s a look at how sports-related stocks performed:

MTN [[link removed]]

Vail Resorts Inc.

[[link removed]]

$232.61

[[link removed]]

+0.29%

[[link removed]] PLNT [[link removed]]

Planet Fitness Inc

[[link removed]]

$64.86

[[link removed]]

+0.97%

[[link removed]] NKE [[link removed]]

Nike, Inc.

[[link removed]]

$113.62

[[link removed]]

+1.36%

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

MGM Resorts International

[[link removed]]

$30.18

[[link removed]]

+1.38%

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

VF Corp.

[[link removed]]

$46.64

[[link removed]]

+1.46%

[[link removed]] EA [[link removed]]

Electronic Arts, Inc.

[[link removed]]

$129.45

[[link removed]]

+1.93%

[[link removed]] (Note: All as of market close on 6/15/22) What to Watch

The Tampa Bay Lightning face the Colorado Avalanche on Wednesday night in Game 1 of the NHL Stanley Cup Final.

The Lightning come into the matchup having won the last two Stanley Cups and are looking to be the first team since the New York Islanders in the 1980s to win three straight championships.

How to Watch: 8 p.m. ET on ABC & ESPN+ / Stream all of the Stanley Cup Final on ESPN+ [[link removed]]*

*Sponsored content. Game availability differs by market, check your local listing.

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Written by Abigail Gentrup [[link removed]], 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

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