September 29, 2022

Read in Browser [[link removed]]

SPONSORED BY

A Hall of Fame quarterback is at the center of an unfolding scandal. Front Office Sports senior reporter A.J. Perez joins FOS’ new podcast The Newsroom to discuss why a cooperating witness could spell trouble for Brett Favre, why Favre might be wise to start cooperating with investigators now, and whether the Green Bay Packers legend could end up in prison.

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

PGA Tour Hits Back at LIV Golf with Countersuit [[link removed]]

Kyle Terada-USA TODAY Sports

The PGA Tour is striking back against LIV Golf in the courts.

A countersuit filed Wednesday spotlights huge bonuses — which reportedly reach $100 million to $200 million for some golfers — paid out by LIV.

“LIV’s orchestrated efforts to induce Tour members to breach their contracts and prevent them from entering into any future contract with the Tour are part of a deliberate effort to harm the Tour,” the PGA Tour said [[link removed]].

The PGA Tour said LIV “openly sought to damage the Tour’s business relationships with its members,” and paid legal fees associated with breaking Tour contracts.It added that LIV has worked to “free-ride off the Tour and its platform” by enticing Tour members to break their contracts while maintaining their Tour memberships, thus allowing them to play in events like The Players Championship and the FedEx Cup Playoffs.

LIV golfers filed a suit against the PGA Tour in August alleging that the Tour was engaging in anticompetitive behavior. LIV Golf has since joined the suit, but eight of the 11 original plaintiffs, including Phil Mickelson, have dropped out.

Reed the Room

Meanwhile, former Masters champion Patrick Reed, who signed with LIV in June, expanded [[link removed]] a defamation lawsuit while withdrawing it in Texas and refiling in Florida.

Reed is suing the Golf Channel and its analyst Brandel Chamblee, and added hosts Damon Hack, Shane Bacon, Eamon Lynch, Golfweek, and parent company Gannett in the refiled suit.

The new filing seeks $750 million on 42 claims, including defamation and civil conspiracy.

Peloton Strikes First Brick-and-Mortar Deal With Dick’s [[link removed]]

Shutterstock

Peloton is turning to the country’s largest sporting goods retailer in its latest effort to reach more customers.

The connected fitness giant will sell its equipment in Dick’s Sporting Goods stores, the companies revealed [[link removed]] Thursday. It’s the first time Peloton’s products will be sold in retail locations outside its namesake stores.

Dick’s Sporting Goods will carry Peloton’s Bike ($1,445), Bike+ ($2,495), Tread ($3,495), Guide ($295), bike shoes, and exercise mats, but will not carry its new rowing machine ($3,195).

An official launch date hasn’t been set, but the companies are slated to sell Peloton products in more than 100 of Dick’s 700-plus U.S. stores “early in the holiday season.”The pricing of the products will not change.

The announcement comes less than two months since Peloton announced [[link removed]] it would team up with Amazon to sell products — its first-ever deal with another retailer. Amazon sells Peloton’s Bike, Guide, and accessories, but not the Bike+ and Tread.

Team Turnaround

Peloton and Dick’s are making moves to bounce back after their early pandemic-related success stalled as people returned to gyms.

In the last two months, Peloton announced it would eliminate [[link removed]] nearly 800 jobs, reduce its retail locations, and increase prices for the Bike+ and Tread. Several executives stepped down, and Q4 revenue dropped 28% year-over-year to $678.7 million.

Dick’s second-quarter revenue fell [[link removed]] 5% year-over-year to $3.11 billion, but increased 38% from the same period in 2019.

SPONSORED BY APPLE CARD

A Different Kind of Credit Card

Reboot your credit card with Apple Card.

It has no fees [[link removed]]. No annual, late, or foreign transaction fees. Because your credit card should work for you, not against you.

Plus, get up to 3% unlimited Daily Cash back on every purchase, every day. It’s real cash [[link removed]] that never expires or loses value.

And unlike other cards that make you wait a month or more to receive your cash back, Apple Card gives you Daily Cash back not in a month, but every day.

Apply now to see your credit limit and interest rate offer without impacting [[link removed]] your credit score.

Terms apply.

Anaheim Approves $4B Project Surrounding Home of NHL’s Ducks [[link removed]]

OCV!BE

A new $4 billion mixed-use entertainment district development project surrounding the Honda Center — home of the Anaheim Ducks — has been approved by the Anaheim City Council.

The project will be fully funded by the Samueli family, who bought [[link removed]] the Ducks in 2005 for $70 million. The team is valued [[link removed]] at $620 million as of December 2021 — ranking 24th in the NHL.

The 100-acre development — called “ocV!BE” — is expected to open in 2024.It will be a potential site [[link removed]] to host events for the 2028 Summer Olympics in Los Angeles.Plans include a 5,700-seat concert hall, office buildings, two hotels, shops, and dining.It will also have 195 reserved affordable housing options, with 1,500 apartments planned.

The project’s approval is the final [[link removed]] step in a process that was started by the Samueli family in 2020.

In August, the Anaheim Planning Commission voted 5-0 to approve the project, which was once proposed to be near Angel Stadium — the home field of the Los Angeles Angels — before a deal over a nearby land purchase collapsed [[link removed]] under regulatory scrutiny and an FBI investigation.

Great Timing

After low profits due to the pandemic, the NHL salary cap is reportedly set to rise [[link removed]] by around $10 million over the next three years.

The league’s cap for the 2023-23 season will reach a record $82.5 million and could rise $1 million in 2023-24, then jump another $4 million each of the following two seasons.

Conversation Starters Invesco QQQ gives you access to the growth potential of some of the world’s greatest innovators, all in one fund. See how [[link removed]] some of those companies are revolutionizing sports and become an Agent of Innovation today.* CrossFit CEO Don Faul’s résumé is stacked. Before CrossFit, he was an executive at Google, Meta, and Pinterest. Prior to that, he was a platoon commander in the Marines. On the latest episode of My Other Passion, we spoke to Faul about the first couple months in his tenure as CEO, where he wants CrossFit to be by 2030, 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]]. DePaul will implement [[link removed]] a “Women’s Athletics Advancement fee,” a $1 charge on any men’s basketball ticket — excluding season tickets, complimentary tickets, or student ticket packages.

IN PARTNERSHIP WITH KAULIG RACING

Making a Lasting Impact off the Track

While Kaulig Racing [[link removed]] is in the business to win championships, there’s a strong culture around opportunities to give back.

Kaulig Giving, the charity arm of Kaulig, is focused on helping those around them and supporting their community. They partner with charitable organizations in Northeast Ohio and beyond, including the LeBron James Family Foundation and the NASCAR Foundation.

To wrap up our series, Behind the Wheel With Matt Kaulig, our Editor in Chief Ernest Baker chats with Matt in the fifth episode [[link removed]] on Kaulig Giving, discussing partnerships that range from healthcare, education, athletics, and other opportunities for children, and the importance to Matt of giving back to the community.

Watch now [[link removed]].

Market Movers

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

WWE [[link removed]]

World Wrestling Entertainment, Inc.

[[link removed]]

$69.17

[[link removed]]

+0.42%

[[link removed]] VSTO [[link removed]]

Vista Outdoor Inc

[[link removed]]

$24.49

[[link removed]]

+2.68%

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

Vail Resorts Inc.

[[link removed]]

$213.93

[[link removed]]

-0.21%

[[link removed]] MGM [[link removed]]

MGM Resorts International

[[link removed]]

$29.99

[[link removed]]

-0.70%

[[link removed]] T [[link removed]]

AT&T, Inc.

[[link removed]]

$15.49

[[link removed]]

-1.43%

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

VF Corp.

[[link removed]]

$30.75

[[link removed]]

-4.12%

[[link removed]] (Note: All as of market close on 9/29/22) What to Watch

The Miami Dolphins (3-0) face the Cincinnati Bengals (1-2) on “Thursday Night Football” at Paycor Stadium.

How to Watch: 8:15 p.m. ET on Amazon Prime Video

Betting Odds: Bengals -3.5 || ML -175 || O/U 48.5

Pick: Expect the Bengals to protect home field. Take Cincinnati to cover.

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

*Sponsored Content

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

Written by Owen Poindexter [[link removed]], Abigail Gentrup [[link removed]], Justin Byers [[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]