Serena Williams’ farewell tour during the U.S. Open is generating big TV ratings for ESPN.

The Worldwide Leader’s coverage of Williams’ straight-sets victory over Danka Kovinic on Monday night averaged 2.7 million viewers — nearly four times the viewership ESPN earned in the comparable primetime window in 2021.

It sets the stage for another big number Wednesday night as Williams takes on No. 2 seed Anna Kontaveit.

The frenzy surrounding the 23-time Grand Slam winner’s expected final tournament at the USTA Billie Jean King National Tennis Center generated enormous numbers all day for ESPN.

• Viewership for Williams’ Monday night match peaked at 3.2 million between 9-9:15 p.m. ET. ESPN Digital Properties totaled 2 million unique users — the most-trafficked first day of a U.S. Open.
• ESPN averaged a record 1.7 million viewers for “Primetime at the US Open presented by IBM” from 7 p.m.-12:03 a.m. ET. — up 279% from last year and 40% from the previous high in 2019.
• The combined total day average of 843,000 viewers was up 4% from the previous U.S. Open best of 819,000 in 2019.

ESPN’s Ace

ESPN signed an 11-year, $770 million deal with USTA in 2013 for broadcasting rights to the U.S. Open. CBS, which held the rights for more than 45 years, had turned down a deal reportedly worth an annual $30 million.

The arms race for the most valuable resource in the Power 5 — media rights revenue — continues.

On Wednesday, the Big 12 announced that it will begin talks with current partners FOX and ESPN earlier than planned. 

In a statement to Front Office Sports, however, ESPN cautioned that the discussions are not necessarily formal. “We regularly engage in conversation around the future with all of our partners, but to be clear, we have not opened the contractual negotiation window with the Big 12 at this time,” the network said.

The Big 12 is motivated by conference realignment. 

• The Big 12’s existing media rights deal is slightly more lucrative than those of the Pac-12 and ACC, but lagging severely behind the Big Ten and SEC.
• The current deal, which extends until 2025, contributed to payouts of around $38 million per school in 2020, per tax returns.

If the Big 12 can get an indication of its worth when it loses Texas and Oklahoma but gains four other members, it may strengthen the conference’s position.

Race With the Pac-12

Pac-12 commissioner George Kliavkoff previously said the conference had begun media rights negotiations earlier than expected. The Pac-12’s contract, though less lucrative than the Big 12, ends in 2024. If the conference can beat the Big 12 to a new deal, it might have an edge in conference realignment.

New Big 12 commissioner Brett Yormark is likely trying to prevent that.

“Given the changing landscape, we welcome the opportunity to engage with our partners to determine if an early extension is in the best interest of all parties,” Yormark said.

Crypto companies are reversing course on sports sponsorships — and European soccer’s governing body is just the latest victim.

Crypto.com backed out of a $100.6 million sponsorship deal for the UEFA Champions League this summer, according to SportBusiness.

A drop of over $2 trillion in value in the crypto markets from November to June, plus another major hit last week, has caused a course correction among crypto exchanges.

• Rival crypto exchange FTX reportedly pulled out of a jersey patch deal with the Los Angeles Angels. Another crypto company backed off a deal with the Washington Wizards.
• The bankruptcy of crypto exchange Voyager left a deal with the NWSL — one of the largest in the league’s history — in limbo. Voyager was also a partner of the Dallas Mavericks.

Crypto’s Big Sports Play

The canceled transactions represent a reversal on what had been the biggest emerging trend in sports deals: Crypto companies were spending billions of dollars on sports sponsorships. 

The category rocketed to the NBA’s second-largest sponsorship category in the 2021-22 season, after being 43rd the previous year.

Crypto.com and FTX each made a major splash with an arena naming rights deal, with the former landing the home of the Los Angeles Lakers, Clippers, Kings, and Sparks in a 20-year, $700 million deal, and FTX snaring the Miami Heat’s arena for 19 years for $135 million.