September 21, 2022

Read in Browser [[link removed]]

POWERED BY

Earlier this year, Rich Paul, Bob Iger, The Chernin Group, and eBay invested in sports and pop culture toymaker Funko. Why are industry heavyweights so interested in this company?

Chief Creative Officer Brian Mariotti bought Funko in 2005 and played a huge role in turning it into the billion-dollar business it is today. On the latest episode of My Other Passion, we spoke to him about working with legends like Michael Jordan and Rafa Nadal on collectibles, how he landed licenses with all the major pro leagues, and why Funko wants to go even harder on sports in the future.

Listen or watch now on Apple [[link removed]], Spotify [[link removed]], and YouTube [[link removed]].

Robert Sarver to Sell Phoenix Suns, Mercury [[link removed]]

Mark J. Rebilas-USA TODAY Sports

Phoenix Suns and Mercury owner Robert Sarver is selling both teams.

In a statement [[link removed]] by turns regretful and aggrieved in tone, Sarver said he thought his one-year suspension “would provide the time for me to focus, make amends, and remove my personal controversy from the teams that I and so many fans love.”

But in the long term, he said he would be a distraction to both teams in the “current unforgiving climate.”

A league-commissioned investigation found [[link removed]] that Sarver regularly used “racially insensitive language; unequal treatment of female employees; sex-related statements and conduct; and harsh treatment of employees that on occasion constituted bullying.” The league suspended [[link removed]] Sarver and fined him $10 million following the release of the report.

Sarver purchased the Suns in 2004 for $401 million. The team was valued at $1.8 billion by Forbes last year.

Temperature Rising

Sarver faced calls to sell the teams or otherwise be removed from the NBA by the team’s vice chairman Jahm Najafi, LeBron James, Suns star Chris Paul, Draymond Green, and NBPA executive director Tamika Tremaglio, all of whom felt the league’s punishment was too light.

PayPal, the Suns jersey patch sponsor, said it would not continue its relationship with the team if Sarver remained in place following his suspension.

League commissioner Adam Silver said previously that he doesn’t “have the right to take away his team,” noting that the report found that Sarver’s behavior was not driven “by racial or gender-based animus.”

Formula 1 Unveils Record 24-Race Schedule, Includes Vegas [[link removed]]

John David Mercer-USA TODAY Sports

Formula 1 unveiled its most packed race calendar in history on Wednesday.

The global racing series’ 2023 schedule [[link removed]] includes a record 24 races, including its return to Las Vegas. That race will join two other U.S. contests, the Miami Grand Prix in May and Austin’s U.S. Grand Prix in October.

China rejoined the calendar after a three-year break. The April race has yet to be confirmed due to the country’s strict COVID-related restrictions.Qatar, which had its inaugural race in 2021, will host its second race after a break this year to host November’s FIFA World Cup.The French Grand Prix dropped off the calendar. Race officials have expressed optimism that it could return on a rotating basis. Monaco, which was at risk, will stay [[link removed]] on the calendar for another three years.

A race in Kyalami, South Africa, for which Mercedes driver Lewis Hamilton has lobbied, won’t happen until 2024 at the earliest.

What Happens in Vegas

The Las Vegas Grand Prix on Nov. 18, 2023, will take place at night and be F1’s first Saturday race since 1985.

In June, F1 parent Liberty Media purchased a 39-acre plot for $240 million to house the paddock area. Las Vegas is under contract for three years, but race officials have expressed interest in a longer term.

SPONSORED BY GIFTNOW

Ready to Win Big With Fans?

Gifts can be a powerful way for sports teams to generate excitement and make a personal connection with fans.

Whether you’re looking to surprise and delight box suite VIPs, make your fans feel at home at an away game, or add gifts to community and educational programs, GiftNow [[link removed]] has you covered.

With GiftNow, digital gifting is easy. From the minors to the majors and beyond, these sports industry gifting solutions [[link removed]] can help attract, engage, and incentivize the people who matter most.

Download [[link removed]] the Sports Industry Use Cases from GiftNow and learn how you can engage your community, help make more sales and build your fan base.

NBA, MLB, and NHL Eyeing 21 Bally TV Networks [[link removed]]

Jerome Miron-USA TODAY Sports

Three major sports leagues could take over Sinclair’s regional sports networks.

The NBA, the NHL, and MLB are reportedly [[link removed]] interested in acquiring the 21 networks of Sinclair’s Diamond Sports Group, which bought [[link removed]] the RSNs from Disney in 2019 for $10.6 billion.

The reports arrive amid growing rumors that Diamond — thought to be valued [[link removed]] around $3 billion — could face bankruptcy in the next three-to-six months, posing a threat to the networks’ teams.

The Bally Sports networks claim half of the local broadcast markets in the U.S.The networks hold exclusive local rights to 14 MLB teams, 16 NBA teams, and 12 NHL teams.

The discussions are expected to begin soon. Sinclair would reportedly propose giving Diamond’s equity to creditors, who would then sell a majority of it to the leagues. Diamond would retain a minority stake.

“They will offer it to all three leagues,” a New York Post source said. “There is a reasonable likelihood this will all happen.”

Diamond has reportedly been telling the leagues that in the event of a bankruptcy, it will be able to keep the games without paying teams their rights fees.

An NBA spokesperson said the report is not true.

Streaming Stipulation

On Sept. 26, Diamond is set to launch a streaming service with a $20 monthly fee, but it might not help as much as Sinclair was hoping.

MLB has only transferred rights for five of the 14 teams and is reportedly considering launching its own streaming service.

Conversation Starters In The Leadoff, Peloton launches its rowing machine, the Chicago Fire could build a soccer-specific stadium, two sports executives launch an investment firm, and Iowa State unveils plans for a $200 million entertainment and retail development. Click here to listen [[link removed]]. YES Network will exclusively televise [[link removed]] Wednesday’s Pittsburgh Pirates game, in which New York Yankees superstar Aaron Judge could tie — or surpass — Roger Maris’ American League record 61 home runs. HBO will premiere [[link removed]] “38 At The Garden,” a new documentary chronicling the “Linsanity” craze of 2012 on Oct. 11.

SPONSORED BY ODDSCHECKER

Win Big on Thursday Night Football

OddsChecker checked it, and this offer [[link removed]] from FanDuel is the best in the bunch for your TNF stake.

This pivotal AFC North matchup could have enormous implications — for your wallet. The Pittsburgh Steelers and Cleveland Browns play on Thursday in the first game on the NFL Week 3 schedule. This game should wind up being somewhat close, and will boil down to Mitchell Trubisky’s ability to counter a strong Browns secondary.

But no matter who your pick is, OddsChecker’s partnership [[link removed]] with FanDuel has got you covered. Bet $1 on your pick, and get $125 in free bets for Steelers vs. Browns. No matter what happens.

Claim [[link removed]] your $125 now.

Market Movers

U.S. stocks experienced gains across all three major indexes on Wednesday. Here’s a look at how sports-related stocks performed:

T [[link removed]]

AT&T, Inc.

[[link removed]]

$16.25

[[link removed]]

-1.93%

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

Vail Resorts Inc.

[[link removed]]

$220.02

[[link removed]]

-3.37%

[[link removed]] VFC [[link removed]]

VF Corp.

[[link removed]]

$37.15

[[link removed]]

-4.20%

[[link removed]] DKNG [[link removed]]

DraftKings Inc.

[[link removed]]

$16.71

[[link removed]]

-4.62%

[[link removed]] CZR [[link removed]]

Caesars Entertainment Inc

[[link removed]]

$41.53

[[link removed]]

-8.42%

[[link removed]] (Note: All as of market close on 9/21/22) What to Watch

Top Rank Boxing brings two of the best boxers in the world to the Prudential Center in Newark, New Jersey.

In the main event, Shakur Stevenson (18-0-0) faces Robson Conceição (17-1-0) for the unified junior lightweight championship.

How to Watch: Friday at 10 p.m. ET on ESPN+ / Stream the bout on ESPN+ [[link removed]]*

*Sponsored content. Fight availability differs by market, check your local listings.

Refer Friends, Win Merch

Ready to rep your favorite newsletter? Refer your friends and colleagues to Front Office Sports and you could win FOS merchandise.

It’s easy to spread the word. Copy and paste your unique link below and share it in an email or on your timeline.

Your custom referral link:

[link removed] [[link removed]]

Or use these one-tap sharing methods:

Email [[link removed]] Twitter [[link removed]] Facebook [[link removed]]

Your referral count: 0

If this email was forwarded to you, you can subscribe here [[link removed]].

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

Copyright © 2022 Front Office Sports. All rights reserved.

80 Pine Street Suite 3202 New York, NY 10005

Advertise [[link removed]] / Update your preferences [link removed] / Unsubscribe [link removed]