October 24, 2022

Read in Browser [[link removed]]

POWERED BY

Formula 1 continues to flourish [[link removed]] in Austin, Texas. On Sunday, Max Verstappen overtook Lewis Hamilton with five laps to go to win the U.S. Grand Prix in the Lone Star State’s capital city. F1 also announced a multi-year media rights extension with ESPN through the 2025 season.

Big 12 Could Land a Bigger Media Rights Deal, Even Without Texas and OU [[link removed]]

Jerome Miron-USA TODAY Sports

The Big 12’s media rights contract with ESPN and Fox doesn’t expire until after the 2024-25 academic year, but the conference is reportedly already close to a new deal.

An agreement with the broadcasters could be in place “within a matter of weeks,” according [[link removed]] to a CBS Sports report.

The current deal contributes an annual $43 million to each school in the conference, including revenue from NCAA basketball tournaments and bowl games. Despite Texas and Oklahoma leaving for the SEC in 2025, Big 12 commissioner Brett Yormark said the new deal could surpass the current figure because he’s “a good salesman.”

Former commissioner Bob Bowlsby claimed the loss of the schools would decrease the conference’s value by 50%.Yormark cited higher ticket prices for the Big 12 tournament as a way to boost revenue.The Big 12 is adding BYU, Cincinnati, Houston, and UCF in 2025. Conference Colleagues

Securing a deal now could put the Big 12 in more favorable broadcasting windows than the Pac-12, which is currently on the open market. Its deal expires in 2024.

But the numbers for either of the conferences’ media rights are still likely to lag behind the Big Ten when its new deal with NBC, Fox, and CBS — expected to pay out $75 million-$80 million annually per school — begins in 2023.

If a deal isn’t made soon, “there is the option to wait 16 months” for the formal negotiating window to begin, Yormark said.

The L.A. Rams Relocation Case Is Closed [[link removed]]

Kirby Lee-USA TODAY Sports

The Rams’ move from St. Louis to Los Angeles is going to cost every team in the league.

NFL owners unanimously supported a plan in which Rams owner Stan Kroenke covers most of the bill but is partly repaid over the next three decades, according [[link removed]] to Sports Business Journal.

The total charge comes to around $820 million — $790 million for a settlement with the city of St. Louis and $30 million in legal fees.The other 31 owners have already chipped in $220 million after the league gave each team around $7 million from national revenue payouts.Kroenke owes the league $320 million in March and an additional $283 million in five years. He’ll be able to recover the second payment over 30 years by hanging onto revenue from home games normally shared with the visiting team. [[link removed]] Executives [[link removed]] | by Owen Poindexter [[link removed]] NFL Owners To Seek $571M from Rams Owner [[link removed]] NFL owners are reportedly voting that Stan Kroenke must pay $571 million. October 18, 2022

The repayment will be through the league’s G4 financing program, which is also being employed by the Buffalo Bills for their new stadium. The Rams will not be able to use the funds for stadium upgrades while they are still claiming repayments.

SoFinancing

The arrangement allows Kroenke to leverage his massive investment in the Rams’ (and Chargers’) SoFi Stadium, which he privately financed to the reported [[link removed]] tune of $5 billion.

The stadium is the NFL’s largest venue.

SPONSORED BY NETSUITE

The New Sport to Watch

The Newsroom, presented by NetSuite [[link removed]], brings you an in-depth breakdown of key stories in the business of sports tracked by FOS writers with behind-the-scenes context gleaned from their original reporting.

Pickleball is growing faster than any other sport and it has led to a surge in celebrity investors and upstart leagues. In our latest episode, Thomas Shields, founder of The Dink and Upstart Sports, joins Front Office Sports’ Owen Poindexter and Doug Greenberg for a look inside the massive trend.

Don’t miss out! Listen now [[link removed]] or watch on YouTube [[link removed]] for future episodes releasing every Thursday.

Serie A Plans to Triple Its Overseas Media Rights Revenue [[link removed]]

Serie A

As European rivals continue to benefit from massive media rights deals, Italy’s top soccer league is looking for a bigger piece of the pie.

Serie A has taken steps to improve its overseas reach, opening a base in New York and planning for offices in London and Abu Dhabi — and now the league wants to triple its international media rights revenue by 2030.

Serie A is set to make $658 million from international media rights [[link removed]] between 2021 and 2024.Between 2022-25, the Premier League will pocket $6.55 billion for overseas rights.Spain’s La Liga is in the second season of an eight-year, $1.4 billion rights deal [[link removed]] with ESPN.

Serie A — which generated [[link removed]] $2.4 billion in revenue during the 2020-21 season, per Deloitte — is also looking to spin off an upcoming media unit to boost revenue after failing to sell a 10% stake worth $2 billion to three investors in 2021. On Friday, the league began the formal process of creating the media unit, which is expected to attract several private equity firms.

The league had previously looked to secure [[link removed]] a deal with CVC Capital Partners, Advent International, and Italy’s FSI fund. It is unclear whether those investors will try again.

Foreign Owners

In May, New York-based private investment firm RedBird Capital Partners finalized [[link removed]] a deal to purchase AC Milan, valuing the Serie A club at $1.3 billion, according to Bloomberg.

[[link removed]] Deals [[link removed]] | by Justin Byers [[link removed]] RedBird Capital Agrees to Buy AC Milan, Valued at $1.3B [[link removed]] RedBird Capital Partners has reportedly finalized a deal to purchase AC Milan,… May 31, 2022

AC Milan is one of nine Serie A clubs currently [[link removed]] in business with North American investors.

PGA Tour Files Petition Targeting the Deep Pockets Behind LIV Golf [[link removed]]

Adam Hagy-USA TODAY Sports

The legal battle between the PGA Tour and LIV Golf has escalated.

The PGA Tour has filed [[link removed]] a petition for discovery against Saudi Arabia’s Public Investment Fund. Sources with knowledge of the situation confirmed to Front Office Sports that the target of the filing is PIF governor Yasir Othman Al-Rumayyan, though his name was not listed in the petition filed under seal in federal court.

The petition, sources told FOS, is part of the PGA Tour’s effort to depose Al-Rumayyan in response to the antitrust lawsuit [[link removed]] filed against the PGA Tour in August.

Later that month, LIV joined [[link removed]] the group of players — which included Phil Mickelson — filing the suit, citing that PGA golfers are “independent contractors but are denied independence.”

Mickelson, along with LIV golfers Pat Perez, Abraham Ancer, and others would eventually drop [[link removed]] from the suit.They said that LIV’s newfound involvement deemed their participation unnecessary.

In September, the PGA Tour filed [[link removed]] a countersuit against LIV.

Another Battle

The Official World Golf Ranking recently declared [[link removed]] that players in LIV tournaments won’t be awarded ranking points after the series’ alliance with the MENA Tour.

Global Sport [[link removed]] | by Abigail Gentrup [[link removed]] LIV Golf Won’t Get World Golf Ranking Points [[link removed]] The MENA Tour submitted fields for LIV Golf’s next two tournaments. October 7, 2022

The OWGR claimed the MENA Tour didn’t give sufficient notice of changes to its membership structure.

SPONSORED BY NAVIGATE

Building Actionable Strategy From Gaming Data

What do sports industry executives need to know about esports and gaming?

Here’s your chance to find out. Navigate’s resident gaming expert Ron Li is hosting a panel of industry leaders to discuss how to translate the data behind gaming [[link removed]] into an actionable strategy, along with best practices.

Join Navigate [[link removed]] for a live webinar on October 26 at 1 p.m. ET and hear insights from experts at Zenni Optical, Wisdom Gaming, OverActive Media, and the former Commissioner of EA’s Madden Championship Series.

Learn more about the world of gaming and esports and how to strategize around them.

Register now [[link removed]].

Conversation Starters The NFL makes regular trips to Europe for games during the season — but that’s just the first phase of a comprehensive plan [[link removed]] to grow the game overseas. Racing fans were able to watch Sunday’s NASCAR race at Homestead from a whole new perspective [[link removed]]. NASCAR’s website and app allowed spectators 360-degree control of a camera placed inside Garrett Smithley’s No. 15 car — for the entire race. Kyle Larson ended up taking the checkered flag.

Austin FC’s regular-season finale was the club’s 34th consecutive sellout — the longest [[link removed]] active streak in MLS. Today's Action

NFL

08:15 PM

Bears (+275) at Patriots (-330)

Bet Now [[link removed]]

*All times are EST unless otherwise noted.

*Odds/lines subject to change. T&Cs apply. See [[link removed]] for details.

Question Of The Day

Do you use CBD products?

Yes [[link removed]] No [[link removed]] No, but I'm interested [[link removed]]

Friday’s Answer

17% of respondents prefer tequila; 27% prefer vodka; 34% prefer whiskey; 22% prefer another spirit.

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

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