November 9, 2022

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DAZN’s North American CEO Joe Markowski is leading the charge behind the streaming service’s rapid evolution. He’s still focused on bringing premier boxing to the platform, but expanding to new sports and growing the brand in the U.S. is just as much of a priority.

On the latest episode of My Other Passion, we spoke at length about where boxing is headed, the power of women’s sports, DAZN’s place in the sports ecosystem, and how London’s underground music scene molded him. Listen or watch now on Apple [[link removed]], Spotify [[link removed]], and YouTube [[link removed]].

Sports Betting Trounced at California Polls [[link removed]]

Robert Hanashiro-USA TODAY

California resoundingly rejected two ballot measures that would have legalized sports betting.

With 42% of the vote counted, Proposition 26, which would have legalized sports betting on tribal lands and at race tracks, had been rejected by 70.4% of voters. Prop 27, which would have legalized mobile sports betting, was doing even worse, with 83.3% of voters saying no.

The committee supporting Prop 27, which received [[link removed]] major funding from DraftKings, FanDuel, and Penn National Gaming, raised $170.2 million to the opposition’s $238.1 million. Prop 27 was the most expensive ballot measure in state history.Prop 26 supporters raised [[link removed]] $121 million to the opposition’s $43.9 million.

“The industry spectacularly messed this up,” Gambling.com Group CEO Charles Gillespie told Front Office Sports, citing Prop 27 campaign messaging that focused on homelessness funding with little mention of sports betting.

What’s Next?

California could still legalize sports betting through its legislature.

“The large commercial sportsbooks are going to have a few private conversations with the tribes and try to strike a deal,” said Gillespie. “If they can’t, you’ll have another ballot initiative in 2024, and the commercial sportsbooks are potentially going to be a lot less deferential to the tribes.”

Gillespie noted that some sportsbook company CEOs are likely “relieved that California is not regulated,” because launching in the nation’s most populous state would be very expensive.

Sports betting is legal [[link removed]] in some form in 33 states, per Action Network, with some still sorting out regulations and lawsuits.

Adidas to Sell Yeezy-Based Designs Despite Kanye West Split [[link removed]]

Shutterstock

Adidas will sell shoes derived from Yeezy designs — despite cutting ties with Ye last month.

“We own all the IP, we own all the designs, we own all the versions and new colorways, so it’s our IP, it’s our product,” Adidas finance chief Harm Ohlmeyer told [[link removed]] the Wall Street Journal.

Yeezy brand products generated $1.7 billion in sales in 2021 — roughly 8% of Adidas’ revenue.

In October, Adidas ended [[link removed]] its relationship with Ye — formerly Kanye West — after the rapper and designer made antisemitic comments on social media platforms.

Gap also ended its deal with Ye, removing his merchandise from its stores and shutting down YeezyGap.com.Foot Locker pulled [[link removed]] all Yeezy brand footwear from its 2,799 brick-and-mortar stores in October. NBA guard Jaylen Brown and NFL defensive lineman Aaron Donald cut ties [[link removed]] with Ye’s sports marketing agency, Donda Sports.

Germany-based Adidas first partnered with Ye in 2013.

Another Cut

Adidas has slashed its full-year net income forecast [[link removed]] to roughly $251.56 million, down from previous estimates of $501.3 million due to the termination of the Yeezy brand partnership.

The company generated $6.4 billion in Q3 2022 revenue, an 11% increase year-over-year, driven by double-digit growth in its football and running segments. Its net income from continuing operations reached $66 million in Q3 2022, compared to $480 million in Q3 2021.

Adidas is expected to hire [[link removed]] outgoing Puma CEO Bjørn Gulden, who will leave his post at the end of the year. Gulden will replace Adidas CEO Kasper Rørsted.

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Formula 1 Could Be Destroyed By Online ‘Hatred,’ Says FIA Exec [[link removed]]

Jerome Miron-USA TODAY Sports

Despite Formula 1’s soaring popularity, FIA’s president is worried about the racing series’ potential destruction.

On Tuesday, International Automobile Federation president Mohammed Ben Sulayem warned [[link removed]] that online abuse could hinder the sport if it’s not addressed.

His remarks follow recent death threats made toward female steward Silvia Bellot and years of alleged harassment and hate posts.

“It is utterly deplorable that a volunteer such as Silvia or any of our marshals and officials, who volunteer their time to allow us to go racing, is the subject of such hatred,” Ben Sulayem said.

“Who would want to pursue becoming a top official in this environment? The reality is obvious — if this continues, it will destroy our sport.”

The FIA is having discussions with social media platforms, governments, and other sports bodies “to make strong commitments for joint action.”It has commissioned research regarding online abuse in sport.The FIA, Formula 1, and its 10 teams have partnered with technology platform Arwen in an effort to automatically remove abusive content.

“The level of sustained toxicity has reached a crisis point,” he added. “It is time for all of us to unite — and to act.”

Vegas Venue

Meanwhile, Formula 1’s increasing cultural capital has translated into higher ticket prices.

A package for a seat in the grandstands at next year’s Las Vegas Grand Prix — which runs around $2,000–$2,500 for three days — has already sold out [[link removed]], but F1 plans to release more.

Conversation Starters The 2022 World Cup has been one of the most controversial sporting events in recent memory — and it hasn’t even begun. Front Office Sports writers A.J. Perez and Doug Greenberg join Owen Poindexter on The Newsroom to break down the scandals and look at what possible good can come from them. Listen and watch on Apple [[link removed]], Spotify [[link removed]], and YouTube [[link removed]]. The SEC has assembled a working group to explore [[link removed]] ways to halt crowd-storming and increase in-game security, while the Big 12 has hired the Oak View Group to evaluate future safety measures. Actor Ryan Reynolds confirmed [[link removed]] on “The Tonight Show Starring Jimmy Fallon” that he wants to buy the NHL’s Ottawa Senators and is seeking a business partner.

FRONT OFFICE SPORTS LIVE

Setting the World Stage

As the world’s attention turns to Qatar for the 2022 FIFA World Cup, Front Office Sports goes off the pitch with leading figures behind the ultimate sports spectacle in Global Goals: The World Cup and Beyond virtual summit [[link removed]].

Join us on Wednesday, November 16 at 1 p.m. ET to hear from soccer analysts, former athletes, broadcasters and marketers on the experience of building one of the most impactful business and cultural events in sports and its reverberation on U.S. soccer [[link removed]]. In this virtual event you will:

Hear from renowned journalist Grant Wahl on the ground in Qatar to get an insider’s look at how the World Cup extravaganza comes together. Listen to veteran USMNT Forward and ESPN Analyst Herc Gomez discuss his own World Cup experience and his second act. Discuss the growth of the game and its return to North American soil in 2026 with acclaimed broadcaster, podcaster, author, and co-founder of Men in Blazers Media Network, Roger Bennett.

Register now [[link removed]]!

Market Movers

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

CHDN [[link removed]]

Churchill Downs, Inc.

[[link removed]]

$210.33

[[link removed]]

+1.59%

[[link removed]] MSGS [[link removed]]

Madison Square Garden Sports Corp

[[link removed]]

$147.00

[[link removed]]

-0.41%

[[link removed]] CMCSA [[link removed]]

Comcast Corp

[[link removed]]

$31.42

[[link removed]]

-1.04%

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

DraftKings Inc.

[[link removed]]

$11.59

[[link removed]]

-4.14%

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

Vista Outdoor Inc

[[link removed]]

$23.61

[[link removed]]

-5.18%

[[link removed]] (Note: All as of market close on 11/9/22) What to Watch

UFC 281 marks another star-studded event for the promotion, and it’s sure to pack a punch.

In the main event, Alex “Poatan” Pereira (6-1-0) faces Israel “The Last Stylebender” Adesanya (23-1-0) in a middleweight title bout.

Adesanya is coming off a win over Jared Cannonier at UFC 276 by decision, while Pereira enters the fight following a knockout win over Sean Strickland also at UFC 276.

How to Watch: Saturday at 10 p.m. ET on ESPN+ / Stream all of UFC 281 on ESPN+ [[link removed]]*

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