November 1, 2022

Read in Browser [[link removed]]

POWERED BY

Today’s Leadoff tracks all the latest changes in the business of sports: Women’s soccer is getting even more investments, the Nashville Predators are looking at a $775 million valuation, an unnamed SPAC is close to a stake in two European soccer clubs, and MLB’s commissioner believes Oakland will likely lose the A’s. Click here to listen [[link removed]].

NWSL Commish Expects ‘5-10’ Bids for Expansion Teams [[link removed]]

Amber Searls-USA TODAY Sports

As the deadline to submit bids for an NWSL expansion franchise approaches, there’s no shortage of interested investors.

The NWSL is looking to add two teams to its 12-club roster by 2024, and commissioner Jessica Berman said [[link removed]] over the weekend that she expects “five-to-10 official bids” after the Nov. 4 deadline following interest from 82 groups.

There may already be a frontrunner. When David Blitzer and Ryan Smith purchased MLS’ Real Salt Lake earlier this year — reportedly [[link removed]] for nearly $400 million — the deal included a reported $2 million option to revive the Utah Royals, which dissolved in 2020.

Kansas City Current owner Angie Long recently said the next team’s owners could pay “upwards of $50 million” in expansion fees.A decision on expansion franchises will be announced in early 2023.

Berman added that findings from the NWSL misconduct investigation didn’t turn away interest.

“We need people around the table who are willing to face down the challenges that women face in society and are willing to do the hard work to solve those challenges in the NWSL,” she said.

Primetime Players

If investors weren’t already convinced of the league’s growing popularity, they‘re sure to be now.

Saturday’s NWSL Championship game between the Portland Thorns and the Kansas City Current — the first in primetime — drew [[link removed]] in 915,000 viewers, a 71% year-over-year increase.

The league’s 10th season, which set multiple league attendance records, reportedly [[link removed]] outperformed MLS’ 10th season by 43% in playoff attendance.

Fox Leaning Into Sports to Combat Lower Ratings [[link removed]]

Tommy Gilligan-USA TODAY Sports

Fox Corp. saw revenue increases — despite sinking ratings — due to higher ad prices on its sports and news networks.

The broadcaster brought in $3.19 billion in the fiscal quarter ending Sept. 30, a 5% uptick from the same period last year.

Advertising revenue grew 8% to $1.22 billion due to political ads leading up to the midterm election, growth at Fox’s ad-supported streaming network Tubi, and “continued strength in pricing across the company’s news and sports brands,” Fox wrote.Revenue from Fox’s television segment grew 8.4% year-over-year to $1.71 billion, with an assist from additional MLB broadcasts.

Executives declined to comment during the earnings presentation on a potential merger between Fox Corp. and News Corp., which owns The Wall Street Journal, Dow Jones, The New York Post, and Australia’s Foxtel.

Fox Corp. beat revenue expectations, and its stock was up over 5% on Tuesday.

Pricey Rights

Fox has been strengthening its sports rights portfolio as it looks to sports to hang onto a declining cable TV audience.

The Big 12 is finalizing [[link removed]] a deal with Fox and ESPN on a 6-year, $2.28 billion rights package beginning in 2025, sources confirmed to Front Office Sports.

The company will also get a lift from this month’s World Cup, to which it holds the rights through 2026.

Fox Sports executive producer David Neal said that its coverage will avoid [[link removed]] the many controversies [[link removed]] surrounding the tournament unless they impact the on-field play.

SPONSORED BY WWE

Watch Crown Jewel on Peacock This Saturday

“The Maverick” Logan Paul is coming for “The Head of the Table” Roman Reigns at WWE Crown Jewel! This heated rivalry [[link removed]] explodes live this Saturday, November 5, in Riyadh, Saudi Arabia!

The Undisputed WWE Universal Championship is on the line as Logan Paul attempts to dethrone Roman Reigns on this international stage. “The Beast” Brock Lesnar will take on “The All Mighty” Bobby Lashley as they reignite their blockbuster feud. The O.C. battles The Judgment Day in a Six-Man Tag-Team Match.

You can watch [[link removed]] WWE Crown Jewel exclusively on Peacock [[link removed]] in the U.S. and on the WWE Network everywhere else.

Sony’s Gaming Unit Takes 49% Drop in Profit [[link removed]]

Shutterstock

Sony put a lot of money into software development and acquisitions in the second quarter — a fact reflected in a big drop in profits.

The Tokyo-based conglomerate’s Game & Network Services segment posted [[link removed]] $4.8 billion in sales in fiscal Q2 compared to $4.4 billion for the same period the year prior — but suffered a 49% drop in profit for the quarter ending Sept. 30.

The segment reported an operating income of $284 million during the quarter, down from $558 million in Q2 2021.

Sony sold [[link removed]] 3.3 million units of the PlayStation 5 in fiscal Q2 — equal to Q2 2021. It increased the price of the PS5 in Europe and Japan due to the strengthening dollar.

Sony plans to increase production of the PS5 and diversify its game portfolio. It aims to sell over 18 million PS5 units in FY2023, up from 11.5 million in FY2022.

The tech and gaming giant posted [[link removed]] $19.93 billion in sales in Q2 and a net income of $1.54 per share, beating Wall Street estimates of $1.07. It raised its full-year operating forecast to $7.84 billion — up 4.5%

Branching Out

In August, Sony announced that it’s diversifying its portfolio by tapping [[link removed]] into mobile games — the fastest-growing gaming category — with a PlayStation mobile gaming unit.

Sony also agreed to acquire [[link removed]] video game developer Bungie for $3.6 billion in January.

Bungie, the original creator of “Halo” and the current developer of “Destiny,” will use Sony to accelerate the development of projects.

Conversation Starters The NBA’s ongoing media rights negotiations are influencing everything the league is doing now — from anti-tanking measures to talks of a midseason tournament. Senior writer Michael McCarthy joins Owen Poindexter on this week’s episode of The Newsroom to break down what’s happening and how much money is at stake. Listen and watch on Apple [[link removed]], Spotify [[link removed]], and YouTube [[link removed]]. Montana Sen. Ellie Boldman is working [[link removed]] on a bill that aims to lure ESPN’s “College GameDay” to the state. Watch and listen [[link removed]] to how Earvin “Magic” Johnson expanded his network to build his net worth. Watch today’s webinar on demand [[link removed]] now and learn how AI technology is being used to boost fan engagement in sports video content.*

SPONSORED BY ATHLETIC BREWING

Beer, Fit For All Times™

What do J.J. Watt, CJ Stroud, Caleb Williams, and Bijan Robinson all have in common?

Athletic Brewing Company [[link removed]] makes their favorite craft brew.

Athletic is America’s leading non-alcoholic craft beer producer, and they’re on a mission to positively impact the world – one can at a time.

Whether you’re eliminating alcohol for a night or for life, Athletic Brewing’s award-winning brews are Fit For All Times™, so you can drink them all night long without feeling hungover the next morning.

For a limited time, new Athletic customers will receive 20% OFF their first order [[link removed]] of two 6-packs or more when they use the code FOS20 by December 31, 2022.

Plus, if you enter their Grand Adventure Giveaway [[link removed]] before November 15, 2022, you have a chance to win $45,000 in epic prizes.

Market Movers

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

WWE [[link removed]]

World Wrestling Entertainment, Inc.

[[link removed]]

$78.90

[[link removed]]

-0.47%

[[link removed]] PLNT [[link removed]]

Planet Fitness Inc

[[link removed]]

$65.44

[[link removed]]

-0.55%

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

MGM Resorts International

[[link removed]]

$36.12

[[link removed]]

-0.58%

[[link removed]] LVS [[link removed]]

Las Vegas Sands Corp

[[link removed]]

$38.82

[[link removed]]

-1.90%

[[link removed]] ELY [[link removed]]

Topgolf Callaway Brands Corp

[[link removed]]

$18.70

[[link removed]]

-2.17%

[[link removed]] (Note: All as of market close on 11/1/22) What to Watch

The Houston Astros face Philadelphia Phillies at Citizens Bank Park for Game 3 of the World Series. The series is tied 1-1.

How to Watch: 8:03 p.m. ET on FOX

Betting Odds: Astros -1.5 || ML -125 || O/U 8

Pick: Expect a strong performance from the Phillies at home. Take Philadelphia to cover.

Refer Friends, Score a Jersey

SPONSORED BY

Front Office Sports has teamed up with Paramount+, home of the UEFA Champions League, to celebrate the streaming of world-class soccer from around the globe.

Celebrate with us for a chance to win!

Five lucky winners will receive an authentic official soccer jersey – all you have to do is refer your friends and colleagues to Front Office Sports. Copy and paste your unique link below and share it in an email or on your timeline.

NO PURCHASE NECESSARY. Enter between October 18, 2022 @ 12:01 a.m. ET – December 18, 2022 at 11:59 p.m. ET. Open to US residents age 18+ only. 1 entry per person. Void where prohibited. See Official Rules [[link removed]] for details.

Referral Count: 0

Copy your invite link: [link removed] [[link removed]]

Or share on social media: DISCLAIMER

*Sponsored Content

Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Live [[link removed]] Podcasts [[link removed]] Pro [[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]]

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

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

Copyright © 2022 Front Office Sports. All rights reserved.

80 Pine Street Suite 3202 New York, NY 10005