July 27, 2022

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Want some game from one of the most seasoned executives in sports? You’re in luck.

Former Liverpool FC CEO Peter Moore just joined the My Other Passion podcast for an in-depth conversation with our EIC Ernest Baker about success in the Premier League, his experiences launching Xbox 360 at Microsoft and running EA Sports, and the rise of soccer in the U.S.

Listen or watch on Apple [[link removed]], Spotify [[link removed]], and YouTube [[link removed]]. 🎧

LIV Golf Announces 14-Tournament League with $405M Purse [[link removed]]

Soobum Im-USA TODAY Sports

The LIV Golf League is launching in 2023, when it will add six more tournaments to its schedule for an additional $150 million in prize money.

The Saudi-backed golf league announced the 14-tournament league [[link removed]] will have a total of $405 million in purses — up from the $255 million offered during this year’s eight-tournament LIV Golf Invitational Series.

With 48 players on 12 team franchises, team captains will be able to make franchise decisions based on [[link removed]] sponsor interest and fan following.

Dates and locations haven’t been announced, but the league stated that it is “expected to expand LIV Golf’s global footprint across North and Latin Americas, Asia, Australia, the Middle East, and Europe.”

The 2022 Invitational calendar includes five U.S. tournaments and one each in London, Bangkok, and Jeddah.LIV Golf claims that the events won’t conflict with the four majors, international team events, or heritage tournaments.

LIV Golf raised [[link removed]] $2 billion from Saudi Arabia’s Public Investment Fund earlier this year and has recruited a number of PGA Tour members.

International Series

LIV Golf announced it will also host more international series tournaments, competing in Thailand, England, Korea, Vietnam, the Middle East, Indonesia, China, Singapore, Hong Kong, and new European and U.S. locations. LIV Golf League players are expected to participate.

The series, which claims it ensures “pathways for amateurs and the next generation of leading players,” launched this year after LIV and the PIF committed $300 million to the Asian Tour.

In 2023, LIV Golf states it will host a total of 25 tournaments.

Formula 1 Grand Prix Brought $350M Lift to Miami [[link removed]]

Formula 1 Crypto.com Miami GP

Formula 1’s inaugural Miami Grand Prix made a huge impact — and now the economic effect has been quantified.

The May race brought in nearly $350 million of economic activity to the surrounding area, according to a report by Applied Analysis.

Tourists spent $150 million during the race week, with an average of $1,940 per person — almost twice that of the typical tourist to the area.Visitors to the Miami International Autodrome site totaled 243,000 over the race weekend.3,000 local workers were paid over $100 million in the leadup to and during the race. Around half of that payout came during the construction phase of the project, which included laying a track composed of 24,000 tons of asphalt. Eyes on the Prize

F1 enjoyed impressive viewership numbers throughout the weekend, with 23 million people tuning in — 27% above Austin’s 2021 Grand Prix. There were 140 million views between F1’s website and app.

The racing series is reshuffling its calendar next year, with Las Vegas joining Austin and Miami. Many in and around F1 have mentioned that an American team and driver could spark U.S. interest even more.

A Harris Poll [[link removed]] from May backs that up, with 35% of American F1 fans and 16% of U.S. adults saying they would be more interested in the racing series if there were more American drivers.

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Nashville Rethinks $2.2B Titans Stadium, Delays New Deal [[link removed]]

Kirby Lee-USA TODAY Sports

The Tennessee Titans are close to finalizing a deal for a new domed stadium, but final approval requires the expedition of a $200,000 report over the team’s current lease at Nissan Stadium.

The report, which is a “condition assessment,” was commissioned [[link removed]] by Nashville’s Metro Council in June after the Titans claimed that upgrading Nissan Stadium would cost roughly $1.8 billion.

The expensive upgrades were a stark increase from the $293.2 million management consulting company Venue Solutions Group said was needed to keep Nissan Stadium viable through 2037.

Even though a new stadium for the Titans could “deliver the best value,” according to several state leaders, a member of the Metro Council believes the project should be reevaluated.

The Titans — valued [[link removed]] at $2.62 billion — have planned a 1.7 million-square-foot stadium.Estimated costs range between $1.9 billion and $2.2 billion.A completed “condition assessment” is expected in November.

The Titans’ current lease at Nissan Stadium runs through 2039 and requires the city of Nashville and taxpayers to pay for maintenance. Nashville would be obligated [[link removed]] to pay roughly $894 million for upgrades between 2026 and 2039, while a new stadium is set to open in 2026.

Increased Value

The Titans could be worth [[link removed]] more than $3 billion if a deal for a new stadium is finalized. The team would benefit from both a new stadium that could garner higher ticket prices and the increasing value of NFL franchises following the record sale of the Denver Broncos in June for $4.65 billion.

Conversation Starters In The Leadoff, Alphabet reports $69.7 billion in revenue, Microsoft sees its gaming revenue take a hit in fiscal Q4, the Paris 2024 Olympics could cost more than $10 billion, and TelevisaUnivision revenue reaches $1.1 billion amid its streaming launch. Click here to listen [[link removed]]. New York City mayor Eric Adams is expected to approve [[link removed]] a new soccer-specific stadium for NYCFC near Citi Field in Queens, per the New York Post. Front Office Sports presents The C-Suite, a weekly LinkedIn Live interview series. Chief Content Officer Lisa Granatstein sat down with EVP, Chief Marketing Officer of Major League Baseball Karin Timpone to discuss engaging with younger fans. For more on that conversation, click here [[link removed]].

IN PARTNERSHIP WITH KAULIG RACING

Mentality for the NASCAR Cup Series

Entering its first full-time season in the NASCAR Cup Series, Kaulig Racing [[link removed]] has established itself for success.

With their core values and culture intact – having fun and being competitive – the full team and drivers continue to stay on track by working hard every day.

In the third episode [[link removed]] of our series, Behind the Wheel With Matt Kaulig, our Editor in Chief Ernest Baker chats with Matt Kaulig about their winning mentality, how ‘having fun’ has inspired the team and the preparation for their first full-time season in the NASCAR Cup Series.

Watch now [[link removed]].

Market Movers

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

MSGS [[link removed]]

Madison Square Garden Sports Corp

[[link removed]]

$157.96

[[link removed]]

+0.39%

[[link removed]] FWONA [[link removed]]

Formula One Group

[[link removed]]

$58.95

[[link removed]]

+1.17%

[[link removed]] BYD [[link removed]]

Boyd Gaming Corp.

[[link removed]]

$55.90

[[link removed]]

+1.64%

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

VF Corp.

[[link removed]]

$46.82

[[link removed]]

+2.63%

[[link removed]] ZBRA [[link removed]]

Zebra Technologies Corp.

[[link removed]]

$338.15

[[link removed]]

+2.90%

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

MGM Resorts International

[[link removed]]

$31.51

[[link removed]]

+2.97%

[[link removed]] (Note: All as of market close on 7/27/22) What to Watch

UFC 277 marks another star-studded event for the promotion, and it’s sure to pack a punch.

In the main event, Amanda Nunes (21-5-0) faces Julianna Peña (12-4-0) in a women’s bantamweight title bout.

It is a rematch from UFC 269, when Peña pulled off arguably the biggest upset in UFC history.

How to Watch: Saturday at 10 p.m. ET on ESPN+ / Stream all of UFC 277 on ESPN+ [[link removed]]*

*Sponsored content. Fight 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]], Brian Krikorian [[link removed]]

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