August 11, 2022

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Have you checked out Front Office Sports’ podcast The Leadoff? In today’s edition, Disney eyes a sportsbook partner after a $21.5 billion quarter, Bayern Munich pushes for a bigger U.S. audience, Endeavor sells its minor league teams, and Germany’s chancellor is fighting for equal pay. Click here to listen [[link removed]].

Fox Claims NFL Ad Sales Outpacing Last Year [[link removed]]

Ron Chenoy-USA TODAY Sports

Fox has garnered strong demand — and according to CEO Lachlan Murdoch, a torrid sales pace — for advertising across its NFL offerings ahead of its Super Bowl LVII broadcast.

“We sold more NFL Sunday advertising in the current upfront market than we did across Sunday and Thursday combined in the prior year’s market,” said Murdoch. “This excludes ad commitments for the upcoming Super Bowl, where we are pacing well ahead of schedule.”

Fox has seen 2022-23 ad commitments grow [[link removed]] 15% compared to last year’s upfront.The company sold 80% of ad inventory in its upfront, up from about 70% last year.It began selling ads for Super Bowl LVII 18 months before its Feb. 12, 2023 broadcast.Super Bowl LVI saw NBC Sports pocket [[link removed]] as much as $6.5 million for 30-second spots.

In November 2019 — before Super Bowl LIV — Fox sold [[link removed]] 78% of its in-game ad inventory, and by the next month, sold out all 77 commercial in-game ad spots.

Stiff Competition

Fox will see a new group of alcohol ads for Super Bowl LVI after Anheuser-Busch decided not to renew [[link removed]] its exclusivity deal in June, allowing other alcohol brands to advertise during the Big Game for the first time since 1989.

Anheuser-Busch — the owner of Budweiser, Bud Light, and Michelob Ultra — still plans to advertise, but will now do so alongside its competitors.

The company will keep close ties with the NFL after renewing its deal with the league in December 2021 for $250 million annually.

Serena Williams Pushes Selena Gomez’s Startup to $100M Valuation [[link removed]]

Susan Mullane-USA TODAY Sports

In the same Vogue feature where Serena Williams announced her possible retirement after the U.S. Open, the tennis star said she’ll continue to prioritize investment in women-owned businesses.

Days later, the 23-time Grand Slam champion is already holding true to her promise.

Williams’ venture fund, Serena Ventures, led [[link removed]] a $5 million funding round in Selena Gomez’s Wondermind, valuing the mental health startup at $100 million.

Wondermind promotes mental fitness routines to maintain mental health, currently offering social media channels and a newsletter. The company is working on building a production division for mental health content and physical products with behavioral therapies.

Williams, who has discussed anxiety and postpartum emotions publicly, will help Wondermind with content and brand promotion. Lightspeed Venture Partners, Sequoia Capital, and former Allergan CEO Brent Saunders also took part in the round.

The mental health sector reached $5.5 billion last year, more than doubling its worth from 2020, according to CB Insights.

Serena Ventures’ Victories

Williams’ fund has already invested [[link removed]] in over 60 companies including MasterClass, Tonal, and Impossible Foods, and 16 of those are valued at more than $1 billion. She is also a part-owner of the NWSL’s Angel City FC and NFL’s Miami Dolphins.

“We’re obviously going to do more, and be a fund that does raise a billion dollars eventually,” Williams said. “One thing I’m good at is building a career.”

Forbes estimates [[link removed]] Williams’ net worth at $260 million.

SPONSORED BY COINBASE

Implementing NFTs With The Chicago Bulls

One of the most well-known use cases of blockchain technology [[link removed]] as it relates to sports are NFTs. Online marketplaces such as NBA Top Shot – where you can own and trade officially licensed NBA and WNBA NFTs – have gained popularity in the last two years.

However, there is so much more to the world of sports NFTs – they allow organizations to create unique partnership opportunities and fan experiences, and they even allow fans to create and grow teams and leagues of their own in the metaverse.

Learn more about NFTs in the Field of Sports in Lesson 4 of Crypto in Sports Essentials [[link removed]], where Liam Killingstad, Director of Insights at Front Office Sports, sits down with Dan Moriarty of the Chicago Bulls to discuss all this and more.

Sign up [[link removed]] for the course today.

Former Man United Director Prepping ‘Hostile’ Offer for Team [[link removed]]

MUFC

Former Manchester United director Michael Knighton is preparing [[link removed]] an offer for the Premier League club.

The bid is considered “hostile” because the team isn’t for sale, but the same term applies to Knighton’s feelings for owners the Glazer family, who also own the Tampa Bay Buccaneers.

“We have an inept and quite frankly useless ownership,” Knighton told Man Utd The Religion.

Knighton said he’s secured commitments from people with “good finance” and is “working on the offer document.”Despite a home loss to Brighton in its season opener, Man United’s stock leapt 12% on Wednesday following the interview. The team now has a market cap of $2 billion.The team is down 11% since hitting the public market in a 2012 IPO.

Knighton joined Man U’s board in 1989 after attempting to buy the team for $24.4 million, stepping down after purchasing Carlisle in 1992. The Glazers bought it in 2005 for $965.4 million.

Team Sharing

In October 2021, brothers Kevin and Edward Glazer put $186 million in shares of the team on the New York Stock Exchange, while their brother Avram sold $97 million in shares the previous March.

The Glazers offered shares with voting rights to fans in June 2021, following uproar over the attempted European Super League.

Knighton called the offer a “sop to fans,” claiming he would offer at least 25.1% shares to fans and ensure that this bloc could derail initiatives such as the Super League or relocation from Old Trafford.

Conversation Starters On Thursday, Jordan Brand announced [[link removed]] a 20-year partnership with Howard University, one of the country’s preeminent Historically Black Colleges and Universities (HBCUs). Iowa Gov. Kim Reynolds and the Iowa Economic Development Authority announced [[link removed]] the state will contribute $12.5 million for the city of Dyersville, host to MLB’s “Field of Dreams” Game, to create a permanent multi-use stadium. FloSports announced on Thursday that it has signed [[link removed]] a three-year extension with the Big East Conference.

SPONSORED BY NIELSEN

Turn Team Loyalty Into Brand Loyalty

The FIFA World Cup 2022™ is a singular chance for broadcasters, platforms and brands to connect with a massive global audience.

With football being one of the most popular sports across the world’s top 10 largest economies, there is no doubt that the Word Cup presents an unparalleled opportunity [[link removed]] to engage with fans well beyond the matches. It offers a chance for the entire media ecosystem to score big with fans, and turn team loyalty into brand loyalty.

In Nielsen’s latest report [[link removed]], they showcase data and insights that helps brands, broadcasters, platforms and streamers make the most of the event. See how you can capitalize on the excitement. Download now [[link removed]].

Market Movers

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

LVS [[link removed]]

Las Vegas Sands Corp

[[link removed]]

$37.67

[[link removed]]

+1.40%

[[link removed]] EA [[link removed]]

Electronic Arts, Inc.

[[link removed]]

$129.95

[[link removed]]

-1.46%

[[link removed]] MTN [[link removed]]

Vail Resorts Inc.

[[link removed]]

$239.68

[[link removed]]

-1.48%

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

Lululemon Athletica inc.

[[link removed]]

$316.49

[[link removed]]

-1.96%

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

Formula One Group

[[link removed]]

$61.00

[[link removed]]

-2.20%

[[link removed]] (Note: All as of market close on 8/11/22) What to Watch

The Chicago Cubs (45-65) face the Cincinnati Reds (44-66) on Thursday night for the “Field of Dreams” Game in Dyersville, Iowa.

How to Watch: 7:15 p.m. ET on FOX

Betting Odds: Cubs -1.5 || ML -105|| O/U 9

Pick: Expect the Reds to get back on track. Take Cincinnati to cover.

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Written by Justin Byers [[link removed]], Abigail Gentrup [[link removed]], Owen Poindexter [[link removed]] Edited by Brian Krikorian [[link removed]]

MORE FROM FRONT OFFICE SPORTS:

The Leadoff [[link removed]] - Daily business of sports podcast

Front Office Sports Pro [[link removed]] - The most promising opportunities where sports meets industry

Front Office Sports Learning [[link removed]] - Professional education at the speed of culture

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