August 17, 2022

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We’re a year into the name, image, and likeness era, and athletes continue to break new ground. Mississippi State wide receiver Jordan Mosley became the first [[link removed]] athlete to sign an NIL deal with a tattoo artist — Vin Vega, who has worked with celebrity clients including Rick Ross, Dwight Howard, and A.J. Terrell.

Washington Nationals Expect Bids for Team by End of Season [[link removed]]

Geoff Burke-USA TODAY Sports

Juan Soto has new employers — and by next season, his former teammates may, too.

The Washington Nationals are expecting [[link removed]] bids to purchase the team before the end of the regular season on Oct. 5.

At least five parties have reviewed the team’s financial reports and met with team personnel, per the Washington Post.Washington Capitals, Wizards, and Mystics owner Ted Leonsis, former CEO of three MLB teams Larry Lucchino, Freedom Mortgage CEO Stanley Middleman, and co-founder of private equity firm MBK Partners Michael B. Kim have all shown interest.Forbes valued [[link removed]] the Nationals at $2 billion in March. The New York Mets were sold for $2.4 billion in November 2020.

The team owes $200 million to the injured Stephen Strasburg and ace Max Scherzer, now with the Mets. The potential sale was not a factor in the trade of Soto to the San Diego Padres, according to Nationals general manager Mike Rizzo.

O’s Staying in the Family?

Meanwhile, the neighboring Baltimore Orioles have a similarly uncertain ownership future.

Team chairman and CEO John Angelos reportedly wants [[link removed]] his family to retain majority ownership, while his brother Louis Angelos sued John and their mother, Georgia Angelos, in June, alleging that John blocked a plan to sell the team.

Legal filings from Georgia indicated that she had retained Goldman Sachs and Jones Day to provide services connected to the planned sale of the team. Forbes valued the Orioles at $1.4 billion.

Signa Revenue Grows 29% Through Acquisitions [[link removed]]

Signa Sports United

Signa Sports United reported major revenue growth in its fiscal third quarter — but also a modest loss — as it restructures into a larger business.

The bicycle and tennis equipment company saw net revenue grow 29.2% to $329.7 million, reflecting the addition of two new companies under Signa’s umbrella.

In December, Signa went public [[link removed]] through a SPAC merger and closed the acquisitions of British bike retailer Wiggle and Tennis Express.The merger with Yucaipa Acquisition Corporation, run by former Pittsburgh Penguins owner Ron Burkle, valued Signa at $3.2 billion and raised $645 million.Wiggle had around $500 million in annual sales at the time of the acquisition.

The acquisitions helped push back against weaker consumer demand to push user traffic up 16% year-over-year. Signa also owns Chain Reaction Cycles, Fahrrad, Bikester, Probikeshop, CAMPZ, Addnature, Tennis-Point, TennisPro, and OUTFITTER.

Signa’s stock was essentially flat following the earnings release on Tuesday — and is down over 25% in its time as a public company.

Changing Gears

The company took a $13.2 million adjusted EBITDA loss in the quarter, compared to a gain of the same amount a year prior. Signa chalked up the loss to one-time expenses related to its public listing.

Signa secured a $152.6 million credit line to power growth, with CFO Alex Johnstone naming its logistics and technology platform as a target for investment, plus an additional $203.5 million option for acquisitions.

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UEFA Report Finds Women’s Soccer Value Could Hit $698M Annually [[link removed]]

UEFA Euro 2022

This year’s UEFA Women’s Euro tournament, which featured a thrilling final between England and Germany, drew record [[link removed]] numbers from both a viewership and attendance standpoint.

But the organization has released a report suggesting the women’s game has even more room to grow.

In the next 10 years, European women’s soccer could reach about $698 million in annual commercial value, the report found [[link removed]] — six times its current value.

“The rapidly expanding fanbase of women’s football is resulting in new revenue opportunities for leagues and clubs, driving the commercial growth of the women’s game and providing the momentum towards further professionalization of the sport,” the report said.

The report surveyed 42 leagues, 162 teams, and 11 commercial partners to arrive at this staggering number.

The Breakdown

All major categories in the business of women’s soccer are expected to skyrocket.

Sponsorships could increase sixfold for up to $300 million each year.Media rights could be worth more than $260 million each year by 2033.Matchday revenue is also expected to go up to more than $137 million each year. It currently totals just over $12 million.

“The future of the women’s game is incredibly promising,” UEFA’s director of football Giorgio Marchetti wrote in the report.

Genius Sports Nears Profitability with Major U.S. Growth [[link removed]]

Genius Sports

Genius Sports sees profitability on the horizon after revenue growth across all its core segments.

The sports data and technology company notched [[link removed]] $71.1 million in revenue, up 27.3% from last year.

The London-based company with a growing U.S. presence was affected by a strengthening dollar: Revenue was up 42% year-over-year when measured using constant currency.

The company absorbed a net loss of $4.8 million, a massive improvement from a $464 million loss in the same period last year.Revenue related to sports betting rose 10% year-over-year to $44.8 million.Genius’ smaller segments showed massive growth: Its media-related revenue increased 88% to $15 million, and its sports technology and services division went up 57% to hit $11.3 million. International Approach

Genius has betting, media, and technology relationships across the globe.

In the second quarter, it developed free-to-play games for FIFA’s new FIFA+ streaming platform, struck a partnership with Brazilian sportsbook Betsul, and secured a data and broadcast augmentation deal with Portuguese soccer club S.L. Benfica.

The U.S., where Genius works with the NFL, MLB, NCAA, and the PGA Tour, remains a central focus. U.S. revenue nearly quadrupled in Q2 from the previous year.

Genius also has partnerships with the Premier League, Euroleague Basketball, Liga MX, the CFL, and FIBA.

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Conversation Starters WWE reported [[link removed]] that it sold over 90,000 tickets to WrestleMania 39 at SoFi Stadium in the first 24 hours — a first-day sales record for any event in WWE history. Two New Jersey senators introduced [[link removed]] a bill that would ban contests in the state by sports organizations “operated primarily through the use of monies received from sovereign wealth funds,” including LIV Golf. In a recent episode of our My Other Passion podcast, former NFL star Vernon Davis gets into investments, his burgeoning Hollywood career, what he learned from Morgan Freeman, and what it was like winning Super Bowl 50 alongside Peyton Manning. Check it out on Apple [[link removed]], Spotify [[link removed]], or YouTube [[link removed]]! Today's Action

MLB

08:05 PM

Athletics (+140) at Rangers (-165)

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MLB

01:10 PM

Royals (+150) at Twins (-175)

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MLB

08:10 PM

Astros (-145) at White Sox (+125)

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*All times are EST unless otherwise noted.

*Odds/lines subject to change. T&Cs apply. See [[link removed]] for details.

Question Of The Day

Do you watch women's soccer?

Yes [[link removed]] No [[link removed]]

Tuesday’s Answer

46.7% of respondents prefer chips/dip when watching sports; 47.2% prefer pizza/wings; 6.1% prefer chicken fingers/fries.

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Written by Owen Poindexter [[link removed]], Amanda Christovich [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[link removed]]

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