August 24, 2022

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Ricky Williams won the Heisman Trophy in college and earned a rushing title in the NFL. When he needs motivation, he’ll throw on old highlights to remind himself that he’s capable of greatness — but for the most part, he’s looking forward.

On the latest episode of our My Other Passion podcast, Front Office Sports editor in chief Ernest Baker talks to Williams about making peace with his controversial exit from the NFL, the realities of running his Highsman business, and why he considers playing as himself in “Madden” video games one of the greatest achievements of his football career.

Listen to the full conversation now on Apple [[link removed]], Spotify [[link removed]], or YouTube [[link removed]]. 🎧

Amazon, Peloton Teaming Up to Sell Bikes [[link removed]]

Peloton

Peloton is teaming up with another retailer for the first time, announcing an agreement with Amazon to sell a selection of its equipment and accessories.

Beginning Wednesday, Amazon will sell Peloton’s original Bike for $1,445, the Peloton Guide for $295, apparel, and accessories including cycling shoes, bike mats, and its heart rate armband.

The Bike+ and Tread treadmill — whose prices recently increased by a respective $500 and $800 — will not be available on Amazon, but Peloton CCO Kevin Cornils told [[link removed]] CNBC its Amazon-sold products could vary over time.In-home delivery and expert assembly for the Bike is available [[link removed]] at no additional cost.

Cornils highlighted the possibility that the company will look for other similar deals, calling the agreement “a really good start for us, with a digital retailer, to test the waters.”

Physical retail remains important to the company’s strategy, according to Cornils, and the Amazon deal is “more of a reflection of us trying to match the consumer.”

Cycling in New Strategies

The agreement is Peloton’s latest effort to turn its business around. In February, Peloton publicized [[link removed]] efforts to cut roughly $800 million in annual costs.

In August, Peloton CEO Barry McCarthy revealed [[link removed]] the company would soon offer a bike that doesn’t require professional delivery or setup. Days before, McCarthy wrote [[link removed]] to employees that Peloton would eliminate 784 jobs, reduce its retail locations, and increase prices for the Bike+ and Tread.

In July, Peloton announced [[link removed]] it would stop its in-house bike production.

Leonsis Looks to Add Nationals to D.C. Sports Empire [[link removed]]

Tommy Gilligan-USA TODAY Sports

Ted Leonsis could add to his Washington sports empire — with what could be the biggest piece yet.

The founder, chairman, and CEO of Monumental Sports & Entertainment was granted access to the Washington Nationals’ financial data. The Lerner family, which owns the team, said they would explore a sale in April. Forbes valued the team at $2 billion in March — 12th in MLB.

Monumental already holds controlling stakes in the:

Washington Wizards Washington CapitalsWashington MysticsCapital City Go-Go (NBA G League)Wizards District Gaming (NBA 2K League)

Leonsis, of course, will face competition for the club. At least five other interested parties have met with Nats officials, including private equity billionaire Michael B. Kim and Freedom Mortgage founder Stanley Middleman.

Monumental Acquisition

On Tuesday, Monumental announced [[link removed]] that it had agreed to acquire the media home of the Wizards and Capitals by purchasing Comcast’s stake in NBC Sports Washington.

On completion of the deal, Monumental will own all of the regional sports network, which in addition to the nation’s capital broadcasts in Maryland, Virginia, and parts of Pennsylvania. It purchased a 33% stake in NBCSW in 2016.

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PGA Tour’s Sweeping Changes Include New Events, $20M Average Purse [[link removed]]

Adam Hagy-USA TODAY Sports

Big changes are coming to the PGA Tour, led by two of its top stars.

As the Tour faces competition from LIV Golf, commissioner Jay Monahan announced a host of changes to ramp up excitement for fans and add incentives for players in a letter obtained by Front Office Sports

A set of players have committed to playing in 12 headline events in the FedEx Cup regular season, plus The Players Championship, the Masters, the PGA Championship, the U.S. Open, and The Open Championship.Four events have been elevated within the FedEx Cup, in addition to another four announced in June. The events will have an average purse of $20 million.The Tour’s Player Impact Program, which rewards players who draw attention to the game, will double its total payout to $100 million per season and reward 20 players. Criteria will be altered, including the removal of a social media component.Fully exempt members will be guaranteed $500,000 per year, starting in 2023, and earn against that minimum until it is reached. Rookies will be paid upfront. The Tiger and Rory Tournament

In addition to those changes, the Tour is working with Tiger Woods and Rory McIlroy on a new type of golf competition. The two co-founded TMRW Sports Group with CEO Mike McCarley, which is launching [[link removed]] The TGL golf league – a stadium-based competition with virtual courses.

The tournament has promised six teams of three golfers each, which will play 18 holes over two hours in 15 Monday night matches, beginning in January 2024. Networks are already showing interest in media rights for The TGL.

Conversation Starters In The Leadoff, sports betting leads to record-breaking spending on ballot measures in California, the Los Angeles Angels will explore a sale, Sony faces a major class-action lawsuit, and Andretti Global plans a $200 million racing headquarters in Indiana. Click here to listen [[link removed]]. Michael Jordan will be playable [[link removed]] in “PGA Tour 2K23,” which is set for release on Oct. 14. When ESPN’s new contract with the SEC starts in 2024, it projects [[link removed]] that it will garner 63% of all college football viewership minutes for people between the ages of 18-49.

IN PARTNERSHIP WITH KAULIG RACING

The Incredible Value for Owners and Sponsors

There’s no better billboard for your brand than one speeding 200MPH through the straightaway at Talladega – or one parked in Victory Lane after 500 grueling miles at Daytona.

And that’s just how it started for Matt Kaulig. He approached a NASCAR team to put his LeafFilter logo on their car, which ultimately led to developing his own team in 2016 and introducing the LeafFilter brand to a motorsports fanbase.

In the fourth episode [[link removed]] of our series, Behind the Wheel With Matt Kaulig, our Editor in Chief Ernest Baker chats with Matt about building successful partnerships with innovative strategies and the unique opportunity to connect with fans behind the track through the gear garage.

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:

LYV [[link removed]]

Live Nation Entertainment Inc

[[link removed]]

$93.78

[[link removed]]

+0.73%

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

Planet Fitness Inc

[[link removed]]

$77.20

[[link removed]]

+0.97%

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

Walt Disney Co (The)

[[link removed]]

$116.84

[[link removed]]

+1.69%

[[link removed]] CMCSA [[link removed]]

Comcast Corp

[[link removed]]

$37.17

[[link removed]]

-0.20%

[[link removed]] MSGS [[link removed]]

Madison Square Garden Sports Corp

[[link removed]]

$165.46

[[link removed]]

-0.67%

[[link removed]] (Note: All as of market close on 8/24/22) What to Watch

The PGA Tour Championship is a collection of some of the top golfers in the world at East Lake Golf Course.

Last year, Patrick Cantlay won the tournament by one stroke, taking home the FedEx Cup. Cantlay faces an uphill battle to repeat in 2022 as players compete for a $75 million purse.

How to Watch: Thursday at 11:30 a.m. ET on ESPN+ / Stream all of the Tour Championship on ESPN+ [[link removed]]*

*Sponsored content. Availability differs by market, check your local listing.

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Written by Abigail Gentrup [[link removed]], Owen Poindexter [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[link removed]]

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

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