July 26, 2022

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Chicago’s mayor is trying hard to keep the Bears in the Windy City. Mayor Lori Lightfoot made three proposals [[link removed]] to renovate Soldier Field — including one for a domed stadium — which would cost as much as $2.2 billion.

Packers ‘Return to Normalcy’ with Record $579M Year [[link removed]]

Samantha Madar/USA TODAY NETWORK

The Green Bay Packers reported record financial results for the 2021-22 season, recording $579 million in annual revenue and $77.7 million in operating profit.

As the only NFL franchise to disclose its financial results publicly and the league’s smallest-market team, the Packers give insight into the rest of the league’s finances. The Packers reported [[link removed]] a $38.8 million loss during 2020.

The team’s national revenue reached [[link removed]] $347 million, a 12% year-over-year increase from $309 million. A report [[link removed]] from earlier this month estimated that the league’s national revenue — which is shared equally by all 32 teams — reached $11.1 billion, or around $343.75 million for each team.

“I think the storyline this year is return to normalcy,” Packers president and CEO Mark Murphy said.

Murphy attributed [[link removed]] the revenue increase to a newly introduced 17th regular-season game, an extra primetime playoff game, and increases in sponsorship and media revenue.

Sponsorship revenue for the league reportedly [[link removed]] increased 23%.The NFL was reportedly [[link removed]] nearing $2 billion in sponsorship deals for the first time. Franchise Finances

Local revenue, which differs for all 32 NFL teams, hit a record $231.7 million for the Packers — up from $61.9 million the year prior when there were no fans at games and an increase from $210.9 million during the 2019-20 season.

The team reported $61.6 million in net income, and also had their highest-ever expense figure at $501.3 million, attributed to payments pushed off due to the pandemic.

Fanatics Deal with Alabama Includes Team Store at Stadium [[link removed]]

Fanatics

Fanatics has signed a deal with the University of Alabama, which includes exclusive e-commerce rights to the SEC powerhouse in addition to rights to fan apparel, NFTs, and trading cards.

Financial terms of the deal weren’t disclosed.

Fanatics — valued [[link removed]] at $27 billion — is the world’s largest licensed sports merchandiser.It will open a team store at Bryant-Denny Stadium, Alabama football’s home field.The store will allow Alabama athletes to take advantage [[link removed]] of NIL opportunities.

A deal with Fanatics adds to what is already a stable athletic department for Alabama.

The Crimson Tide reported a $9.6 million surplus [[link removed]] in FY2021. Alabama saw its operating revenue reach $179.8 million during the period with operating expenses at $170.2 million.

Alabama benefited from a $23 million bailout for each SEC school in FY2021. The Tide is poised for a strong FY2022 after a surplus of $16.14 million in FY2020 before fan restrictions.

Lucrative Opportunity

Alabama coach Nick Saban stated that his players have pocketed [[link removed]] more than $3 million in NIL deals over the past year during last week’s SEC media days. Saban’s 2021 Heisman Trophy-winning quarterback Bryce Young made nearly $1 million prior to last season.

Saban has voiced his support for players making money through NIL but has concerns over how deals are regulated in ways that maintain a competitive balance.

The seven-time national championship-winning coach claimed in May that rival Texas A&M “bought every player on the team.” Texas A&M coach Jimbo Fisher denied it.

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Players Reject MLB Owners’ Final International Draft Offer [[link removed]]

Robert Hanashiro-USA TODAY Sports

MLB and its players association failed to reach a deal on an international draft, ending the last remnants of their collective bargaining negotiations that led to a 99-day lockout prior to the 2022 season.

The players rejected [[link removed]] the owners final offer on Monday, which was the deadline for the two sides to reach a deal.

In March, the two sides agreed [[link removed]] to table talks on an international draft and established Monday’s deadline.

With the deadline looming, MLB presented what it called its final offer, which included $191 million in guaranteed money for the top 600 international players. The MLBPA had proposed $260 million.The league proposed that non-negotiable amounts would go to each player, based on draft order, while the MLBPA proposed that slot amounts act as minimums.The two sides were also split on the maximum a team could offer to undrafted free agents, with MLB proposing $20,000 and the MLBPA twice that. Quantifying the Qualifying Offer

Had the two sides reached an agreement, the qualifying offer system would have been eliminated. Under those rules, teams may offer their players that file for free agency a one-year deal at a set price.

Should the player reject the qualifying offer and sign with another team, the signing team will lose a draft pick to the previous team.

The qualifying offer for the 2022 season was set at $18.4 million. Only San Francisco Giants first baseman Brandon Belt accepted the offer out of 14 recipients.

Cricket Australia Lands $250M Rights Deal with Disney Star [[link removed]]

Cricket Australia

Cricket Australia has secured a media rights deal with Disney worth $250 million to broadcast games in India through Disney Star — an Indian media subsidiary of the entertainment giant.

Disney Star — for seven years starting in 2023 — will air international matches and both men’s and women’s Big Bash League games, two Twenty20 leagues launched by Cricket Australia in 2011.

Twenty20 is a shortened format of cricket introduced to the pro ranks in the early 2000s.Disney Star replaces Sony, which has held media rights since 2017.The deal also includes “other territories across Asia.”

The pact helps bolster Disney Star’s portfolio of cricket media rights. In June, the pay-TV network extended [[link removed]] its domestic TV rights deal with the Indian Premier League for $3 billion.

Disney Star failed to retain global streaming rights to the IPL after Viacom18, a joint venture between Reliance Industries, Paramount Global, and Bodhi Tree Systems, acquired the rights in a deal valued at $2.6 billion that runs from 2023 through 2027.

Cricket in Court

Cricket Australia, the national governing body of cricket in Australia, is facing legal woes despite being a hot commodity for some of the largest mass media companies in the world.

Earlier this month, Australia’s Channel Seven filed [[link removed]] court proceedings in an effort to terminate a $310 million media rights deal with Cricket Australia. Channel Seven — a Seven West Media company — claims Cricket Australia breached its contract, which has two summers remaining.

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Conversation Starters WWE’s stock surged Monday after its latest quarterly report, a filing that detailed [[link removed]] around $14.6 million of unrecorded expenses that will be paid back by longtime CEO and chairman Vince McMahon. On a new episode of our My Other Passion podcast, Boston Celtics forward Grant Williams tells us how the team is getting ready for next season, which investments in his portfolio he’s most excited about, and what it’s like going head to head with Draymond Green. Listen to the full episode on Apple [[link removed]], Spotify [[link removed]], or YouTube [[link removed]]. From the first pitch to the soccer pitch, Atmosphere Sports is bringing sports back to the center with scores, highlights, and more. Learn more [[link removed]].*

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

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