September 28, 2022

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CrossFit CEO Don Faul’s resume is stacked. Before CrossFit, he was an executive at Google, Meta, and Pinterest. Prior to that, he was a platoon commander in the Marines. Now he’s been tasked with taking one of the world’s most popular fitness regimens to the next level.

We spoke to Faul about his first couple months as CEO, where he wants CrossFit to be by 2030, the books that changed his life, and diversifying his team after the controversy that rocked the company. Listen or watch now on Apple [[link removed]], Spotify [[link removed]], or YouTube [[link removed]].

LIV Reportedly Near Deal to Buy Airtime on FOX Sports [[link removed]]

Richard Cashin-USA TODAY Sports

LIV Golf is reportedly in talks with FOX Sports to purchase airtime to broadcast its events.

The move would mark the controversial Saudi-backed series’ first linear television deal.

The deal, which is still being finalized [[link removed]], would see LIV purchase airtime on FOX rather than receive a rights fee. LIV would also be responsible for selling ads and producing its events.

LIV currently airs its tournaments on YouTube.The series will hold 14 tournaments in 2023, up from eight in 2022.FOX hasn’t aired golf since it sold USGA rights to NBC in 2020.It is unclear when a deal between LIV and FOX would start.

LIV has been generating [[link removed]] “enormous” interest from potential U.S. broadcasters, according to its CEO Greg Norman.

Some are refuting the report of LIV buying airtime.

“All this rumor and speculation is being driven by adversaries that are attempting to chill or stall our efforts,” a person with knowledge of the talks told FOS.

However, the series has been unable to secure deals with ESPN, CBS, and NBC — with one reason being that the rival PGA Tour has deals with all three networks. Amazon and Apple have reportedly [[link removed]] passed on it.

Similar Playbook

LIV would not be the first to go down this path. Major League Soccer paid ESPN to show its games, and it paid off with a landmark deal.

In June, MLS agreed to a 10-year, $2.5 billion exclusive streaming deal with Apple. The league will be responsible [[link removed]] for all production costs associated with matches.

Inter Scores $71.8M Revenue Increase [[link removed]]

Inter Milan

Inter Milan reported $420.7 million in revenue for the 2021-22 financial year, up $71.8 million year-over-year.

The Serie A club’s statement [[link removed]] clarified that with “financial comparatives, which means the end of the 2019-20 season is not taken into account in the 2020-21 financial year, despite the time overlap, the increase in revenues is approximately [$134 million].”

Inter won its eighth Coppa Italia and sixth Italian Super Cup but ended the year with a loss of $134 million, down from $235.1 million the year prior.

Inter states its finances were still “largely affected by the social and economic consequences of the pandemic,” with restrictions gradually lifting in the second half of the season.

The club claims its majority shareholder is committed to “backing the group by ensuring asset support.”

In 2016, Chinese electronics retailer Suning Commerce Group purchased [[link removed]] a nearly 70% stake in the club for roughly $307 million.Last year, Suning injected [[link removed]] a loan of around $71.8 million into the team and is reportedly set to inject another $95.7 million to “add more breathing room to the budget.” Milanese Moolah

Inter and AC Milan are working to build a new stadium with 60,000-65,000 seats, which could mean the demolition of San Siro.

“The planned investment is [$1.25 billion] and will increase job opportunities in the area,” Inter director Alessandro Antonello said.

The teams are projected [[link removed]] to generate $119 million in revenue per season from the new stadium dubbed “The Cathedral.”

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Mercedes Extends F1 Deal Worth $75M Annually [[link removed]]

John David Mercer-USA TODAY Sports

With major changes coming to Formula 1 in 2026, Mercedes is staying the course.

The iconic carmaker extended its title and technical deal with Malaysian oil company Petronas from 2026.

The deal is for $75 million per season.The extension continues an arrangement that began with Mercedes’ entry into F1 in 2010.Mercedes has won eight championships in that time, but are in third place this year, behind Red Bull and Ferrari. Sustained Relationship

Starting in 2026, F1 will switch to 100% sustainable fuels and engines that draw 50% of its their power from electric sources. The change has caused a reckoning for constructors throughout the racing series.

“From 2026, advanced sustainable fuel will be at the heart of F1 performance,” said Mercedes CEO and team principal Toto Wolff.

Audi is joining [[link removed]] the series as a power unit constructor in 2026. Porsche had plans to team up with Red Bull that year, but the two sides scrapped negotiations after failing to come to an agreement. Porsche still hopes to join F1.

Racing legend Mario Andretti has sought [[link removed]] to bring an 11th team to the series, but F1 CEO Stefano Domenicali has expressed concerns about the grid becoming too crowded with additional teams.

Conversation Starters In The Leadoff, Steve Ballmer retains his title as the richest U.S. sports owner, FTX acquires Voyager Digital’s assets after bankruptcy, Nautilus considers a sale, and Qatar beefs up security ahead of the 2022 FIFA World Cup. Click here to listen [[link removed]]. ESPN’s Week 3 telecast of the Dallas Cowboys’ 23-16 win over the New York Giants averaged [[link removed]] 19.3 million viewers across ESPN, ABC, ESPN2, ESPN, and ESPN Deportes — up 29% from Cowboys-Eagles last season. A NIL collective at South Carolina has organized [[link removed]] an NIL program which aims to help every women’s basketball player earn an average of $25,000 this season.

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Market Movers

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

T [[link removed]]

AT&T, Inc.

[[link removed]]

$15.88

[[link removed]]

+0.73%

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

Rogers Communications Inc.

[[link removed]]

$39.76

[[link removed]]

+0.96%

[[link removed]] UA [[link removed]]

Under Armour Inc

[[link removed]]

$7.04

[[link removed]]

+2.10%

[[link removed]] ARMK [[link removed]]

Aramark

[[link removed]]

$32.85

[[link removed]]

+3.14%

[[link removed]] FL [[link removed]]

Foot Locker Inc

[[link removed]]

$35.16

[[link removed]]

+4.04%

[[link removed]] DKS [[link removed]]

Dicks Sporting Goods, Inc.

[[link removed]]

$117.02

[[link removed]]

+5.42%

[[link removed]] (Note: All as of market close on 9/28/22) What to Watch

The St. Louis Cardinals (90-65) face the Milwaukee Brewers (82-72) on Wednesday night at American Family Field.

How to Watch: 7:40 p.m. ET on ESPN+ / Stream Cardinals vs. Brewers exclusively on ESPN+ [[link removed]]*

Betting Odds: Brewers -1.5 || ML -155 || O/U 7

Pick: Expect the Cardinals to build on Tuesday’s win. Take St. Louis to cover.

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

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

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