August 18, 2022

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Have you checked out Front Office Sports’ podcast The Leadoff? In today’s edition, the Glazers could sell a piece of Manchester United, Penn acquires the rest of Barstool Sports, Germany considers a return to hosting the Olympics, and Sportradar eyes the metaverse. Click here to listen [[link removed]]. 🎧

Big Ten Lands Record Media Rights Deal [[link removed]]

Aaron Doster-USA TODAY Sports

The Big Ten has inked the largest media rights contract in the history of college sports — a deal worth at least $7 billion total, sources confirmed to Front Office Sports.

The rights [[link removed]] for all sports will be shared between FOX, CBS, NBC, and Peacock. The deal runs from July 1, 2023, to the end of the 2029-30 season.

In total, the deal will reach the mid-$7 billion range, a source told FOS, and will increase gradually over the seven years.

For the first year — before USC and UCLA join the conference — each existing school will receive about the same amount as in the final year of its current deal. Then, the value could reach up to $90 million annually per school.

“The Big Ten Conference media rights agreements are more than just dollars and deals,” Big Ten commissioner Kevin Warren said. “They are a mechanism to provide stability and maximum exposure for our student-athletes, member institutions, and partners during these uncertain times in collegiate athletics.”

Future of Football

The Big Ten plans to “dominate” Saturday football, the conference said.

Its schedule will include marquee games at noon ET on Fox, 3:30 p.m. ET on CBS, and primetime on NBC.

NBC will attempt to make the Big Ten the NFL of college football, using the Saturday night window as a complement to “Sunday Night Football,” as FOS previously reported [[link removed]]. NBC games will also be simul-streamed on Peacock.

The Big Ten football championship games will be split between the networks.

Cleveland Browns’ Deshaun Watson Hit With 11-Game Ban, $5M Fine [[link removed]]

Jeff Lange / USA TODAY NETWORK

Cleveland Browns quarterback Deshaun Watson saw his suspension increased to 11 games as punishment for allegations of sexual misconduct.

Watson also accepted a $5 million fine and must undergo a professional behavioral evaluation and follow a treatment program — part of a deal announced Thursday between the NFL and NFLPA.

While Watson apologized [[link removed]] last week and again in a statement released [[link removed]] by the Browns, he again told reporters after the settlement was announced that he “stood by [his] innocence” and that he “didn’t assault anyone or disrespected anyone.”

Watson’s original [[link removed]] six-game suspension was handed down earlier this month, which led the NFL to appeal the decision as it sought a ban of one year or longer.

The settlement came before a decision was rendered on the NFL’s appeal.

Breakdown of Settlement

Watson received a fully guaranteed five-year, $230 million extension when he was acquired via a trade with the Houston Texans in March.

Watson’s base salary this season was $1 million, meaning that he will be out about $600,000. Factoring in the fine, Watson will lose about $5.6 million — roughly 2.4% of the total value of contract with the Browns.Watson’s fine — along with $1 million each from the Browns and the NFL — will go toward a new fund aimed at efforts to prevent sexual assault and misconduct.

Browns owner Jimmy Haslam told reporters Thursday that the team would “absolutely” have still made the deal despite the fallout.

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Knicks, Rangers Owner Reports Record $821M in Revenue [[link removed]]

Brad Penner-USA TODAY Sports

Madison Square Garden Sports Corporation posted record full-year revenue in the company’s latest earnings report.

The owner of the New York Knicks, New York Rangers, and their minor league affiliates generated [[link removed]] $821.4 million in revenue in FY2022, up from $415.7 million in FY2021.

MSG benefited from the Rangers’ participation in the NHL playoffs, which included 10 home playoff games at Madison Square Garden. MSG saw playoff-related revenue increase by $49.6 million in FY2022, while pre- and regular-season ticket revenue grew by $27 million.

Owned by James Dolan and Silver Lake Partners, MSG also includes Counter Logic Gaming.MSG reported $175.2 million in revenue in fiscal Q4, compared to $146.9 million in Q4 2021.Operating income reached $86.1 million in FY2022, compared to an operating loss of $78.4 million.

Even with record revenue, MSG saw some of its operations take a hit in FY2022. Local media rights fees decreased by $21.7 million over the fiscal year due to the shortened NBA and NHL 2020-21 seasons. Sponsorship and signage revenue fell by $4.6 million during the same span.

Staying Put

In July, Related Companies — a Hudson Yards developer owned by Miami Dolphins owner Stephen Ross — pitched [[link removed]] relocating Madison Square Garden, but MSG directors turned it down.

The arena would have been housed above a casino in Hudson Yards through a relocation estimated to cost $8.6 billion, according to documents published in 2021 by Reinvent Albany.

Conversation Starters Former WWE CEO Vince McMahon made previously unrecorded [[link removed]] contributions totaling $5 million to the now-dissolved Donald J. Trump Foundation, according to the Wall Street Journal. Quarterback Malachi Nelson — the No. 1 recruit in ESPN’s Class of 2023 rankings — is signing [[link removed]] with Klutch Sports agency, according to the network. Ahead of the 2022 US Open, the USTA has announced [[link removed]] that it will hand out more than $60 million in prize money — the most in the history of the event.

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From NFL Player to Wine Connoisseur

My Other Passion, presented by Netsuite [[link removed]], brings you conversations with the most influential athletes, celebrities, and executives about what drives them – beyond the sports or businesses they’re famous for.

In our latest episode, Ernest Baker, Editor in Chief of Front Office Sports, sits down with former NFL safety Will Blackmon to discuss winning a Super Bowl with Eli Manning, how LeBron James made wine more mainstream, and the lessons he’s learned from his financial advisor.

Listen now [[link removed]] or watch on YouTube [[link removed]] for future episodes releasing every Wednesday.

If you or someone you know is an athlete, celebrity, or business leader, reach out [[link removed]] to be featured on an upcoming episode.

Market Movers

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

T [[link removed]]

AT&T, Inc.

[[link removed]]

$18.40

[[link removed]]

+0.27%

[[link removed]] PLNT [[link removed]]

Planet Fitness Inc

[[link removed]]

$78.24

[[link removed]]

+0.93%

[[link removed]] GCO [[link removed]]

Genesco Inc.

[[link removed]]

$65.37

[[link removed]]

+2.36%

[[link removed]] RCI [[link removed]]

Rogers Communications Inc.

[[link removed]]

$45.37

[[link removed]]

-0.24%

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

Live Nation Entertainment Inc

[[link removed]]

$96.51

[[link removed]]

-0.41%

[[link removed]] PTON [[link removed]]

Peloton Interactive Inc

[[link removed]]

$12.63

[[link removed]]

-2.32%

[[link removed]] (Note: All as of market close on 8/18/22) What to Watch

The Washington Mystics face the Seattle Storm on Thursday night at Climate Pledge Arena in Game 1 of a first-round playoff series.

How to Watch: 10 p.m. ET on ESPN2

Betting Odds: Storm -4 || ML -175 || O/U 158.5

Pick: Expect the Mystics to keep things close. Take Washington to cover.

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Written by Amanda Christovich [[link removed]], A.J. Perez [[link removed]], Justin Byers [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[link removed]]

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