July 18, 2022

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A big reason behind Formula 1’s soaring popularity is the hit Netflix series “Drive to Survive,” which has generated several likeminded series. Disney + is the latest streamer to join the race with a forthcoming F1 docuseries [[link removed]] hosted by mega-star — and mega-fan — Keanu Reeves.

Premier League’s Losses Hit $1.2B Total [[link removed]]

Premier League

The Premier League saw its clubs lose a combined $1.2 billion in the 2020-21 season — which represents an improvement from last year’s results.

The heavy losses were spearheaded by the Premier League’s “Big Six” clubs: Arsenal, Chelsea, Manchester United, Liverpool, Manchester City, and Tottenham. The top-flight clubs reported [[link removed]] a combined loss of $816 million — roughly 63% of the league’s total losses.

For the 2019-20 season, losses amounted to $1.6 billion — the highest since 2009.

Combined revenue for the Premier League’s 20 clubs reached $5.8 billion in 2020-21.About $4 billion of that revenue came from media rights deals.It reported $36 million in matchday revenue, compared to a potential $829 million.Matchday revenue suffered from restrictions on fan attendance.

Leading the Premier League in losses for the 2020-21 season was Chelsea, a club that will look to rebound under new ownership. The Blues suffered a loss of $244 million during a season that saw the club finish fourth in the Premier League standings.

In May, a consortium led by Los Angeles Dodgers, Lakers, and Sparks owner Todd Boehly purchased Chelsea for $5.2 billion — the largest sale ever for a professional sports team ever.

It also marked the first time that more than half of the Premier League’s clubs were under American ownership.

Another Loss

The Premier League has asked [[link removed]] its clubs to agree to a voluntary ban on new gambling sponsorship deals on shirts. For the 2020-21 season, 10 clubs had gambling company sponsors.

Commissioners Cashed In Despite Pandemic [[link removed]]

Gary Vasquez-USA TODAY Sports

Commissioners throughout professional sports took pay cuts during the pandemic, but some were handsomely rewarded as their overall compensation reached new heights.

The executives have benefited [[link removed]] from an influx of bonuses, incentives, and benefits packages.

In 2020, NFL commissioner Roger Goodell took a significant pay cut amid financial uncertainty due to the pandemic. Goodell, who became commissioner in 2006, had a salary of $0 in 2020.

Yet the 63-year-old still pocketed $63.9 million that year from bonuses and other benefits.

Between 2019 and 2020, Goodell made $128 million. The earnings were fueled by the NFL’s $113 billion in media deals [[link removed]] with CBS, NBC, Disney, Fox, and Amazon.

Goodell also benefited from a new collective bargaining agreement approved in 2020.

PGA commissioner Jay Monahan also didn’t take a salary in 2020.But he still earned $14.1 million in 2020 — Monahan’s largest compensation package to date.

The PGA also awarded its staff — including executives — $130.5 million in 2020, up from $123.3 million a year prior.

Leading the Pack

Goodell stands to increase his earning potential with the recent financial success of America’s most popular professional sports league.

The NFL reportedly generated [[link removed]] $11.1 billion in revenue during the 2021 season, totaling $343.75 million in revenue for each of the league’s 32 franchises. The results represented a 12% increase compared to the 2020 season thanks to a 23% increase in sponsorship revenue.

The league hopes to boost [[link removed]] its revenue to $25 billion annually by 2027.

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United Soccer League Adds Two Teams [[link removed]]

USL

The United Soccer League is picking up steam.

The soccer body, which is sanctioned by the U.S. Soccer, announced [[link removed]] that it has entered an exclusive agreement with USL NOLA, a group aiming to bring professional soccer to New Orleans, with the intent of launching a USL Championship men’s team by 2025.

The agreement also aims to launch a team for the USL Super League — a Division II women’s competition slated to begin play in 2023.USL NOLA is led by Warren Smith, who led Sacramento Republic FC’s and San Diego Loyal SC’s launches and first seasons, and Jamie Guin, who has worked on projects for Sporting Kansas City, LAFC, and Columbus Crew.

On the West Coast, USL League One — run by USL as a Division III league — introduced [[link removed].] Santa Barbara Sky FC as its newest expansion club on Tuesday.

The team, which is led [[link removed]] by former Liverpool FC CEO Peter Moore, will begin play in 2024. Details regarding the club’s women’s team have yet to be announced.

Popularity Points

In 2019, ESPN extended [[link removed]] its three-year deal — reportedly “in the low seven-figure range” — to broadcast the second and third tiers, tripling the number of USL games aired previously.

The USL Championship — one division under MLS — and its union struck its first collective bargaining agreement last year. The five-year CBA guarantees [[link removed]] players $2,700 per month with raises in future years.

Star athletes including [[link removed]] Marshawn Lynch, Landon Donovan, Tim Howard, and DaMarcus Beasley have all invested [[link removed]] in USL clubs.

Viaplay Eyes Premier Sports Channel [[link removed]]

Premier Sports

Viaplay Group is in negotiations to acquire Ireland-based pay-TV channel Premier Sports, according to Bloomberg.

Premier Sports, which also operates in the U.K., would allow [[link removed]] the Stockholm-based streaming company to expand its reach ahead of its launch in the region later this year.

Viaplay hopes to reach an agreement with Premier Sports by the end of 2022.Premier Sports holds media rights to La Liga and UEFA Nations League.The channel is available on Virgin Media, British broadcaster Sky, and its app.Viaplay currently has a market value of roughly $1.7 billion.

A deal for Premier Sports would add to Viaplay’s growing portfolio of live sports rights.

In 2020, the company secured [[link removed]] exclusive rights to the Premier League in a six-year deal from the 2022-23 season through 2028. The agreement allows Viaplay — previously known as Nordic Entertainment Group — to air matches in Norway, Denmark, Finland, and Sweden.

Viaplay supplemented the deal with a distribution pact [[link removed]] with Norwegian pay-TV operator RiksTV.

The pact, which ends in 2023, allows RiksTV users to watch all 380 Premier League matches per season.

Under Watch

Viaplay’s potential expansion in the U.K. could lead to scrutiny by British regulators.

The Competition and Markets Authority — a U.K. antitrust watchdog — is investigating [[link removed]] a group of Britain’s top sports broadcasters regarding the purchase of freelance services.

The group includes BT Group, IMG Media, Sky UK Limited, and ITV.

The CMA believes the broadcasters engaged in potential “cartel-like behavior.”

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Conversation Starters The Houston Texans have agreed [[link removed]] to settle claims with all 30 women alleging sexual misconduct against formerr Texan and current Cleveland Browns quarterback Deshaun Watson, per attorney Tony Buzbee. After the Supreme Court overturned Roe v. Wade, the NWSL will monitor [[link removed]] state abortion laws in potential expansion cities. FaZe Clan is officially going public [[link removed]] in a $987 million deal after a SPAC merger with BRPM was approved. Front Office Sports presents The C-Suite, a weekly LinkedIn Live interview series where Chief Content Officer Lisa Granatstein sits down with sports leaders who are driving global business and changing culture. Tune in [[link removed]] on Tuesdays at 1 p.m. ET.*

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Written by Justin Byers [[link removed]], Abigail Gentrup [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[link removed]]

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