August 8, 2022

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Players from Russia and Belarus were banned from competing at Wimbledon in the wake of their countries’ invasion of Ukraine, but the upcoming U.S. Open will offer a different [[link removed]] response to the ongoing crisis. Russians and Belarusians can play under neutral flags, but the tournament will also host an exhibition match seeking to raise at least $2 million for Ukrainian war relief — and the USTA hopes that players from both countries will participate.

Formula 1 Plans Year-Round Events at Las Vegas Facility [[link removed]]

F1

Formula 1’s Miami Grand Prix hosted events and programming for the week leading up to the race, but its Las Vegas edition could stage activity at the paddock site year-round.

“Our goal was to have a facility which is not only magnificent for the race but has the opportunity to have ongoing activations and events, even when the race is not underway,” Greg Maffei, CEO of F1 parent Liberty Media, told [[link removed]] investors.

In May, F1 purchased a 39-acre plot of land in central Las Vegas to house the pit and paddock area for $240 million.The purchase resolved questions about how F1 was going to find space for the pit and paddock near a track that will run through the Las Vegas Strip.F1 will race in Las Vegas in November 2023, for the first time since 1982. Year-Round Operation

Unlike most of its other races, F1 and Liberty Media are self-promoting the Las Vegas Grand Prix, along with Live Nation and local stakeholders.

“It’s a bit difficult to forecast for investments because we’re still working out the program we’re going to undertake there,” said Maffei. “We can well manage this within the capital we have. It’s not going to drain us in any way, and it’s not going to forestall us from doing other actions.”

Maffei noted that F1 founding partners Caesars, Wynn Las Vegas, and MGM Resorts are already “seeing incredible demand” related to the race.

PGA Tour Files Motion to Bar 3 LIV Golfers from Playoffs [[link removed]]

Patrick Breen/The Republic

As the PGA Tour gears up for the FedEx Cup Playoffs, it’s doing everything it can to keep LIV defectors from playing — including legal sanctions.

Attorneys for the Tour have asked [[link removed]] a federal judge to deny a temporary restraining order filed on behalf of three players that would compel the Tour to allow them to play in the golf postseason despite their suspensions.

A hearing has been scheduled [[link removed]] for 4 p.m. ET via Zoom on Tuesday.

Talor Gooch, Matt Jones, and Hudson Swafford all left the PGA Tour to compete with LIV Golf.

All three would qualify for the playoffs by virtue of being ranked in the top 125 of the FedEx Cup standings.They rank 20th, 65th, and 67th, respectively.

Attorneys for the LIV players argue that the punishment for not being able to play in the playoffs would be “substantial and irreparable,” and that the temporary restraining order is necessary to prevent that harm.

The PGA Tour is arguing that these players have no basis to demand such an order.

“Their ineligibility for Tour events was foreseeable when they accepted millions from LIV to breach their agreements with the Tour, and they knew for a fact that they were suspended on June 9,” the Tour’s lawyers wrote. “The antitrust laws do not allow Plaintiffs to have their cake and eat it, too.”

Courtroom Battle

The drama surrounding the PGA Tour-LIV Golf feud has intensified [[link removed]] in recent weeks after 11 LIV players filed [[link removed]] an antitrust lawsuit against the Tour.

The FedEx Cup Playoffs begin with the FedEx St. Jude Championship on Aug. 11.

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The Benefits Crypto Provides Athletes

Crypto at its core is grounded in the idea of empowering the individual through a decentralized currency [[link removed]], providing everyone the freedom to buy, sell and trade without intermediaries.

As professional sports teams and leagues have begun to adopt crypto in recent years, athletes have capitalized on the freedom and opportunities it provides as well.

In the final lesson of Crypto in Sports Essentials [[link removed]], WNBA star, Jewell Loyd of the Seattle Storm shares her view on crypto, how she utilizes it to create content, engage in communities and start meaningful conversations. Plus, what the future holds for athletes who are getting involved in crypto at both the professional and collegiate level.

Sign up [[link removed]] for the course today to learn more.

Vista Outdoor Closes $540M Deal for Fox Racing [[link removed]]

Fox Racing

Visa Outdoor has closed its acquisition of Fox Racing for $540 million, adding the extreme sports and lifestyle company to its portfolio of more than 30 sports and recreation brands.

Known for its motocross and mountain gear products, Fox Racing allows Vista Outdoor to expand its reach across the sports and outdoor recreation category as it strives to be “the acquirer of choice within the industry,” CEO Chris Metz told [[link removed]] Front Office Sports earlier this year.

The deal could increase [[link removed]] by $50 million based on Fox Racing’s financial performance.Fox Racing saw net sales grow by a CAGR of 20% from 2019 to 2021.Sales are projected to grow another 20% in 2022.

Vista Outdoor acquired Fox Racing following favorable results in the company’s latest earnings report. Despite facing supply chain constraints and rising inflation, Vista Outdoor posted [[link removed]] $803 million in sales in fiscal Q1 2023, a 21% increase compared to fiscal Q1 2022.

The Minnesota-based company’s sporting products segment generated $511 million in sales in fiscal Q1 2023 — up 40% year-over-year — while its outdoor segment saw sales reach $292 million during the quarter, a 2% decline compared to the same period the year prior.

Reels In Another

Vista Outdoor has also announced [[link removed]] the acquisition of Simms Fishing Products for $192.5 million.

The deal provides Vista Outdoor with additional access to more than 55 million fishing participants nationwide. Simms will add roughly $110 million in net sales to Vista Outdoor.

Conversation Starters In The Leadoff, the Premier League’s revenue gap may widen from other European soccer leagues, the women’s European Championship spikes apparel sales, a Honus Wagner card sells for a record price, and New Era Cap adds the NFL, NBA, and MLB as investors. Click here to listen [[link removed]]. FloSports has signed [[link removed]] a seven-figure deal over four years with the Great Lakes Intercollegiate Athletic Conference, breaking its own record for the largest media deal in Division II history. The NFL is appealing for a larger punishment and, reportedly, a major fine and mandatory treatment for Deshaun Watson over sexual misconduct allegations, but the NFLPA appears [[link removed]] primed to mount a legal challenge to get Watson back on the field.

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Market Movers

U.S. stocks were mixed on Monday. Here’s a look at how sports-related stocks performed:

MSGS [[link removed]]

Madison Square Garden Sports Corp

[[link removed]]

$156.71

[[link removed]]

+0.44%

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

Walt Disney Co (The)

[[link removed]]

$109.07

[[link removed]]

+0.65%

[[link removed]] BC [[link removed]]

Brunswick Corp.

[[link removed]]

$79.96

[[link removed]]

+1.16%

[[link removed]] PLAY [[link removed]]

Dave & Buster`s Entertainment Inc

[[link removed]]

$40.61

[[link removed]]

+1.63%

[[link removed]] LULU [[link removed]]

Lululemon Athletica inc.

[[link removed]]

$316.45

[[link removed]]

-1.42%

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

AT&T, Inc.

[[link removed]]

$18.07

[[link removed]]

-1.77%

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

The New York Liberty (13-19) face the Dallas Wings (16-16) on Monday night at the College Park Center.

How to Watch: 8 p.m. ET on NBA TV

Betting Odds: Wings -4 || ML -180 || O/U 161

Pick: Expect the Liberty to keep the game close. Take New York to cover.

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Written by Owen Poindexter [[link removed]], Doug Greenberg [[link removed]], Justin Byers [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[link removed]]

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