July 15, 2022

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After a year-long layoff to focus on mental health, undefeated boxer Ryan Garcia (22-0, 18 KO) returns to the ring Saturday to face Javier Fortuna — and he’s doing it in style. Garcia will sport a custom-designed Dior robe and trunks highlighted by silk satin, leather ornamentation, and 3,000 Swarovski rhinestones.

NFL Reportedly Hit $11.1B in Revenue During 2021 [[link removed]]

Kirby Lee-USA TODAY Sports

National revenue for the NFL’s 2021 season reportedly reached $11.1 billion — totaling $343.75 million for each team.

The figure is 12% higher than in 2020, according to a report [[link removed]], which says it’s a record tally — though in January, Bloomberg reported [[link removed]] the NFL’s 2019 revenue to be $15 billion, with the goal of boosting it to $25 billion by 2027.

The figure from Thursday’s report includes media rights, sponsorships, and shared revenue and royalties from NFL subsidiaries and affiliates.

Sponsorship revenue for the league reportedly [[link removed]] increased 23%. Outlets recently reported [[link removed]] that the league was nearing $2 billion in sponsorship deals for the first time.Before the start of the season, it was estimated the teams’ revenue would fall between $335 million and $340 million.

All but one of the league’s 32 teams are privately owned, meaning local revenue isn’t known. The Green Bay Packers are the sole NFL franchise that makes results public, though their figures give insight into the rest of the league.

The Packers’ 2021 report will be released this month. In 2020, they reported $309.2 million in revenue — up from $296 million in 2019 — with $62 million in local revenue.

Future Finances

The NFL’s revenue is poised to go up. Last year, the NFL signed [[link removed]] broadcasting deals worth roughly $113 billion, setting teams up for more than $400 million in revenue. Most of the deals begin in 2023, but ESPN’s deal — roughly $2.7 billion annually — began [[link removed]] this year.

The league is also working to grow its international business to $1 billion. Last year, it began allowing teams to market [[link removed]] in specific foreign countries.

Cubs Latest Team Sued for Alleged Disability Law Violations [[link removed]]

Jerry Lai/USA TODAY Sports

The Chicago Cubs became at least the sixth pro team among the four major sports to face a lawsuit over alleged violations of the Americans with Disabilities Act.

On Thursday, the U.S. Attorney’s Office for the Northern District of Illinois filed a lawsuit in a Chicago federal court that alleged the Cubs “removed the best wheelchair seating in the stadium” and that many seating areas “do not have adequate sightlines” after a $550 million renovation project.

The ADA — landmark civil rights legislation signed into law in 1990 — laid out protections for people with disabilities.Existing sports venues like Wrigley Field — the second-oldest ballpark in the majors (opened 1914) — had to comply with parking, bathroom and entrance/exit standards.New construction — and any venue built after 1990 — must follow all accessibility requirements of the ADA, as updated in 2010.

The Cubs said in a statement that they were “disappointed” by the lawsuit, adding that they “fully cooperated” with the U.S. Attorney’s Office’s investigation.

Other ADA Issues

The San Francisco 49ers were among the defendants in a 2016 lawsuit that was settled [[link removed]] for $24 million in 2020. Five other organizations — Kroenke Sports and Entertainment (Colorado Avalanche and Denver Nuggets), the Seattle Mariners, the Baltimore Orioles, and the New Orleans Saints — have faced ADA legal challenges in the years since.

“I don’t know why there are all these problems. I think if a bunch of lawyers can read the code, architects should be able to as well,” disability rights attorney Amy Robertson said.

Editor’s note: Please click here [[link removed]] to read more on this story.

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NIL A Year Later

It’s been over a year since the NCAA agreed to allow its athletes to profit off of their name, image, and likeness (NIL). This landmark ruling, in turn, completely upended the business of college sports for athletes, schools, agents and marketers.

Join Front Office Sports on Wednesday, July 20 at 1 p.m. ET for an inside look at the NIL landscape a year later — and what’s next for college sports, athletes and brands. The virtual event [[link removed]], sponsored by Nielsen, will cover:

Keys to building a successful partnership, including lessons learned and what the future holds How schools and athletic departments fit into the equation and benefit from NIL What’s Next for NIL and how to safely connect student athletes to opportunities with brands

Grab your spot and register [[link removed]] now!

Everton Owner Says ‘No For Sale Sign’ on Team [[link removed]]

Everton FC

Everton FC is off the market.

Majority owner Farhad Moshiri wrote a letter [[link removed]] to the club’s fans assuring them that any new investment in the team would only be a minority stake.

“There has been much talk of investment in our football club recently — even takeovers — but I want to clarify that there is no for sale sign currently hanging outside Everton Football Club,” the letter reads.

Last month, a group led by former Chelsea FC and Manchester United chief executive Peter Kenyon reportedly [[link removed]] held discussions to purchase the club. Reports suggested Moshiri was open to selling equity stakes in the club and/or external investments in the franchise’s new $605 million stadium.

Moshiri intended to talk to Kenyon’s group about stadium funding, but the discussions reportedly developed into exclusive takeover talks.Reported estimates for the club’s price tag ranged from $609.1 million to $1.2 billion.

“I am focused on completing the financing for our fantastic new stadium as well as strengthening the playing squad, and that might include a minority investment,” Moshiri wrote. “That will continue.”

The stadium is slated to open ahead of the 2024-25 season.

Looming Losses

It’s no surprise that Everton needs funding for its stadium. In March, the club reported [[link removed]] a loss of more than $131 million for the third consecutive year — totaling $438 million in losses over the last three fiscal years.

In the last seven years, Everton has only made a profit once.

Conversation Starters In The Leadoff, the NBA tops $10 billion in revenue for the first time ever, the New York Yankees prepare for a jersey patch deal, a firm headed by NFL Hall of Fame quarterback Steve Young has raised nearly $7 billion, and Riot Games punishes a top esports team owner. Click here to listen [[link removed]]. The South Atlantic Conference has signed [[link removed]] a five-year agreement with broadcast streamer FloSports in a deal worth seven figures, sources confirmed to FOS. ESPN+ is raising [[link removed]] its subscription price from $6.99 to $9.99 per month. Love the Front Office Sports newsletter? We’re looking for ambassadors who would like to be paid to promote the newsletter. Fill out this form [[link removed]] to be considered for the program.

FRONT OFFICE SPORTS LEARNING

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Steve Young Goes Deep With $7B Fund

Find out exactly what’s happening in the private markets every week with highlights from our Front Office Sports Pro Deal Tracker.

We carefully monitor both public and private market data for a snapshot of the sports business landscape.

This week’s Pro Deal Tracker [[link removed]] highlights:

HGGC, a private equity firm based in Palo Alto, California, and co-led by former San Francisco 49ers quarterback Steve Young, raised a new $2.5 billion fund. Walla, a developer of a studio management platform designed to transform and simplify studio operations, raised $8 million in Series A venture funding for a deal led by Industry Ventures. Edge, a developer of an AI-driven eSports gaming software designed to enhance gamers’ cognitive and mental skills, raised $30 million in Series A venture funding for a deal led by Corner Ventures. Planetarium Labs, a developer of an open-source blockchain platform designed to transform the game’s life cycle and revenue model, raised $32 million in Series A venture funding for a deal led by Animoca Brands. The Cool Down, an operator of a content platform to educate and interest more Americans in a cleaner, cooler future, run by Bleacher Report founder Dave Finocchio, raised $5.72 million through a combination of Seed-1 and Seed-2 funding from Revolution/ROTR, Upfront Ventures, and other undisclosed investors.

Try out the full Deal Tracker. [[link removed]]

Market Movers

U.S. stocks experienced gains across all three major indexes on Friday. Here’s a look at how sports-related stocks performed:

ARMK [[link removed]]

Aramark

[[link removed]]

$30.62

[[link removed]]

+0.36%

[[link removed]] LYV [[link removed]]

Live Nation Entertainment Inc

[[link removed]]

$84.22

[[link removed]]

+0.53%

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

Nike, Inc.

[[link removed]]

$104.54

[[link removed]]

+0.71%

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

MGM Resorts International

[[link removed]]

$29.12

[[link removed]]

+0.76%

[[link removed]] WWE [[link removed]]

World Wrestling Entertainment, Inc.

[[link removed]]

$63.50

[[link removed]]

+0.89%

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

Planet Fitness Inc

[[link removed]]

$74.94

[[link removed]]

+1.43%

[[link removed]] (Note: All as of market close on 7/15/22) What to Watch

The Oklahoma City Thunder (2-1) face the Golden State Warriors (1-2) on Friday night at the Thomas & Mack Center for NBA Summer League.

How to Watch: 7 p.m. ET on ESPN

Betting Odds: Thunder -1 || ML -110 || O/U 174.5

Pick: Expect the Thunder to come out on top. Take Oklahoma City to cover.

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Written by Abigail Gentrup [[link removed]], A.J. Perez [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[link removed]]

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