August 3, 2022

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The majority of Fortune 500 CEOs and women in C-suite jobs were college athletes. Former Florida State and Minnesota Vikings quarterback Christian Ponder is all-in on helping athletes recognize business opportunities after their playing days are over.

Check out the new episode of our My Other Passion podcast on Apple [[link removed]], Spotify [[link removed]], or YouTube [[link removed]], and hear Ponder and FOS editor-in-chief Ernest Baker talk business and behind-the-scenes NFL stories.

NBC Sees Big Ten Being ‘NFL of College Conferences’ [[link removed]]

Trevor Ruszkowski-USA TODAY Sports

NBC has already pushed the idea of combining Big Ten telecasts with its existing Notre Dame coverage as a “ perfect one-two punch [[link removed]].”

Now, as rights negotiations with the conference near the finish line, NBC is proposing a strategy that calls for back-to-back, prime-time Big Ten and NFL games on Saturday and Sunday nights, said sources.

NBC is pitching a fall Saturday football schedule that includes triple-header coverage of Big Ten games on Fox, CBS, and NBC from early afternoon to night.The slate would be followed by NBC’s “Sunday Night Football,” the most-watched show [[link removed]] in prime time for a record 11 straight years.

“The Big Ten would have exposure in every TV home,” said one source. “It would also be a smart idea to follow the model of the most successful sports league in America.”

NBC, ESPN, and Amazon declined to comment on negotiations. The Big Ten did not immediately respond to a request for comment.

Billion-Dollar Deal

The Big Ten is expected to command [[link removed]] at least $1.25 billion annually for its next media rights deal from bidders including NBC, Amazon, ESPN/ABC, and CBS Sports. The winner will air games alongside Fox Sports, the conference’s primary TV partner and an operating partner in the Big Ten Network.

The Big Ten’s current media rights deals expire after the 2023 season.

Editor’s note: For more on this Big Ten story, click here [[link removed]].

Mickelson, 10 Other LIV Golf Players Suing PGA Tour [[link removed]]

John David Mercer-USA TODAY Sports

Phil Mickelson, Bryson DeChambeau, and nine other LIV Golf competitors filed an antitrust lawsuit [[link removed]] against the PGA Tour in federal court Wednesday, alleging their suspensions are part of a “carefully orchestrated plan to defeat” the Saudi-backed upstart tour.

Beyond the lawsuit filed in the U.S. District Court for the Northern District of California, Talor Gooch, Hudson Swafford, and Matt Jones requested a temporary restraining order that — if granted — would allow them to compete in the FedEx Cup Playoffs next weekend in Memphis.

Pressure applied by the PGA Tour forced LIV Golf “to cancel its 2022 business plan,” which included a full-fledged league with more golfers, a TV deal, and more events, per the lawsuit.

LIVing Well

While Tiger Woods turned down [[link removed]] an offer between $700 million to $800 million to join LIV Golf, several others on the PGA Tour defected — and were paid handsomely.

The Tour increased golfer compensation $135 million in response to LIV’s launch, per the lawsuit. Tour purses grew only 2.5% per year on average from 2014 through 2019, far behind major sports leagues.Brooks Koepka, who now plays for LIV Golf, topped the 2019 PGA Tour money list at $9.68 million and has already made an estimated [[link removed]] $69 million this year.

In a letter to members, PGA Tour commissioner Jay Monahan stated that the lawsuit, first reported by The Wall Street Journal [[link removed]], was essentially 11 players “trying to use lawyers to force their way into competition alongside our members in good standing.”

Editor’s note: For more on this story, click here [[link removed]].

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Learn more about HANG – Contact Evan Messinger [mailto:[email protected]] for updates on their global slate of upcoming events including NFL, College Football, NBA, MLB, World Cup, and more.

Under Armour Reports Lackluster Earnings, Cuts Forecast [[link removed]]

Under Armour

Under Armour reported $1.35 billion in first-quarter revenue, just slightly above analysts’ estimates of $1.34 billion.

The company’s revenue was partially attributed [[link removed]] to higher prices. Under Armour recorded [[link removed]] $7.7 million in net income — a steep drop from last year’s $59.2 million — and just $34.5 million in operating income, compared to the $121.2 million reported the same period the year prior.

Wholesale revenue increased 3% to $792 million.Direct-to-consumer revenue dropped 7% to $521 million mainly due to an 8% decline in owned-and-operated revenue.Ecommerce revenue, which represented 39% of the quarter’s direct-to-consumer business, fell 6%.

Footwear revenue increased 1% to $347 million, apparel dipped 1% to $868 million, and accessories dropped 13% to $97 million.

Under Armour’s selling, general, and administrative expenses increased 9% to $596 million, including legal expenses.

The former UCLA sponsor settled [[link removed]] a lawsuit with the school at the end of May that saw Under Armour shell out $67.5 million. UCLA had accused Under Armour in 2020 of illegally ending their 15-year, $280 million agreement.

Ominous Outlook

The retailer cut its profit forecast for the fiscal year, primarily due to more promotions on athletic apparel cutting into margins.

Under Armour still expects revenue growth of 5% to 7%, but operating income is now projected to reach $300 to $325 million, a notable decline from the previous range of $375 million to $400 million.

Conversation Starters In The Leadoff, EA Sports secures a deal to become La Liga’s naming rights partner, a survey reveals transformative changes ahead for college football, Big 5 Sporting Goods reports a decline in earnings, and McLaren Automotive steps into sports apparel with sneakers. Click here to listen [[link removed]]. ESPN has signed [[link removed]] Linda Cohn to a new, multiyear deal that will see her remain a “SportsCenter” anchor and a contributor to the network’s NHL coverage. The global golf business is fascinated by LIV Golf, but the Saudi-backed upstart could threaten [[link removed]] the LPGA.

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:

EA [[link removed]]

Electronic Arts, Inc.

[[link removed]]

$133.29

[[link removed]]

+1.15%

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

Live Nation Entertainment Inc

[[link removed]]

$98.07

[[link removed]]

+1.32%

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

MGM Resorts International

[[link removed]]

$34.20

[[link removed]]

+2.73%

[[link removed]] DIS [[link removed]]

Walt Disney Co (The)

[[link removed]]

$108.98

[[link removed]]

+3.11%

[[link removed]] DKS [[link removed]]

Dicks Sporting Goods, Inc.

[[link removed]]

$97.49

[[link removed]]

+4.09%

[[link removed]] T [[link removed]]

AT&T, Inc.

[[link removed]]

$18.37

[[link removed]]

-0.38%

[[link removed]] (Note: All as of market close on 8/3/22) What to Watch

UFC Fight Night marks another exciting event for the promotion, and it’s sure to pack a punch.

In the main event, Thiago “Marreta” Santos (22-10-0) faces Jamahal “Sweet Dreams” Hill (10-1-0) in a light heavyweight title bout.

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

*Sponsored content. Fight availabilities differ by market, check your local listing.

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

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