November 11, 2022

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LIV Golf CEO Greg Norman has found himself at the center of several feuds since the Saudi-backed series started up, sniping with everyone from Rory McIlroy to Jack Nicklaus. LIV is now considering moving Norman “upstairs” to a less public-facing role and looking for a new CEO.

Amazon Makes History With $1T Loss, Bounces Back [[link removed]]

Maria Lysaker-USA TODAY Sports

Amazon has endured historic losses over the past year, but it’s still gunning for top-value sports rights.

The media and ecommerce giant briefly held the distinction of being the only public company to lose $1 trillion in market value.

A slump over the last month led to a drop in market capitalization of around $879 billion. The company reached a peak market value of $1.88 trillion in July 2021.A rally following news that inflation is receding in the U.S. led to a 12.2% jump on Thursday, pushing Amazon’s market cap $978.24 billion.

It’s unclear how many people are watching Amazon’s first season of broadcasting “Thursday Night Football” exclusively. The company’s own estimates show [[link removed]] an average viewership of 11.8 million, while Nielsen ratings produce a significantly smaller 10.1 million figure.

Both are a notable dropoff from last season’s 16.4 million on Fox.

NBA on Prime?

Amazon has prioritized the most popular sports leagues in purchasing broadcast rights, such as the NFL and the Premier League — and another top commodity is coming on the market.

Negotiations for the NBA’s next media deal are ongoing, and the league could be seeking up to $9 billion annually.

The league’s current deals with Disney and Discovery’s TNT end after the 2024-25 season.

No Knockouts for UFC Owner’s $1.2B Quarter [[link removed]]

Craig Kidwell-USA TODAY Sports

Endeavor reported $1.22 billion in third-quarter revenue, down from $1.39 billion during the same period last year.

The owner of mixed martial arts promotion UFC and talent agency WME posted [[link removed]] a net loss of $12.5 million, compared to $63.6 million in net income in Q3 FY 2021.

The Events, Experiences & Rights segment brought in revenue of $440.6 million, down $5.7 million year-over-year, primarily attributed to media rights to non-annual events.Revenue for its Owned Sports Properties segments jumped to $402.3 million, a $113.8 million increase from last year, partially due to an increase in product and licensing revenues at UFC.Endeavor’s Representation segment’s revenue fell $276.4 million to $388.3 million.

Endeavor closed its $800 million acquisition of sports betting company OpenBet during the quarter. The initial agreement was reportedly [[link removed]] worth $1.2 billion, but that number fell in July, per an SEC filing. The deal combines OpenBet with IMG Arena, Endeavor’s sports betting unit.

The company expects $5.24 billion to $5.33 billion in full-year revenue.

Ballpark Policies

During the quarter, Endeavor [[link removed]]announced plans [[link removed]] to sell Diamond Baseball Holdings to Silver Lake — Endeavor’s majority investor — for $280 million. DBH was formed last year and now includes 10 minor league baseball teams.

Endeavor president Mark Shapiro said at the time that the company’s “relationship with MLB and the MLBPA took priority” — the MLBPA previously claimed Endeavor’s ownership of player agents in its WME Sports division was a conflict of interest.

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Billionaire Canadiens Minority Owner Reported Favorite to Buy Senators [[link removed]]

Marc DesRosiers-USA TODAY Sports

The NHL’s Ottawa Senators may have found their new owner.

Billionaire Michael Andlauer has reportedly emerged as the frontrunner to purchase [[link removed]] the Senators after the team was placed on the market last week by the two daughters of late former team owner Eugene Melnyk — who bought the Senators for $92 million in 2003.

Earlier this month, the Melnyk family reportedly hired [[link removed]] financial services firm Galatioto Sports Partners to facilitate a sale. Galatioto is also involved in the sale of MLB’s Los Angeles Angels.

Andlauer, founder and CEO of Andlauer Healthcare Group Inc., has relationships with NHL commissioner Gary Bettman and team owners as a minority partner of the Montreal Canadiens. Andlauer — who joined a consortium led by the Molson family that acquired [[link removed]] the Canadiens for $575 million in 2009 — has made plans to sell his stake in the franchise.

In December 2021, the Senators were valued at $525 million, per [[link removed]] Forbes.The valuation ranks the team 28th out of 32 NHL franchises.Several bidders are expected to submit offers worth at least $655 million.

Actor and Wrexham AFC co-owner Ryan Reynolds has expressed interest [[link removed]] in buying the Senators, according to People, though noting that he would need a consortium of investors with “very deep pockets” to complete a sale.

New Home

In June, the Senators reached [[link removed]] a memorandum of understanding with the National Capital Commissions and a group of partners for a new arena.

The Senators plan to build the facility in downtown Ottawa, with a long-term land-lease agreement expected to be reached in 2023.

F1 Teams Haas, Williams, Look to U.S. for Boost [[link removed]]

David Kirouac-USA TODAY Sports

Guenther Steiner, principal of Haas Formula 1 team, knew how big F1’s U.S. popularity had grown when he was stopped multiple times on his way to breakfast in Las Vegas.

He was approached by “at least five-to-10 people,” he told Front Office Sports. “The race is in a year, guys!”

Steiner was among several F1 representatives in Vegas for its Fan Fest, where drivers tested out a short track and F1 laid out plans for its permanent paddock area.

Between the paddock development and associated land purchase, F1 is spending [[link removed]] $500 million, according to Nevada Gov. Steve Sisolak.“The vibe that is already in the city is really hard to describe,” Williams principal Jost Capito told FOS. “It’s unbelievable. Everybody seems to know about Formula 1.” Coming to America

Both Williams and Haas are strengthening their U.S. ties. Williams plans to add American driver Logan Sargeant to its F1 team in 2023, if he qualifies, and Haas selected MoneyGram as its new title sponsor.

“Now, having an American sponsor and the owner being American, we can take more of that identity on.”

Capito noted that having an American driver won’t be enough — “you need a successful, performing American driver.”

Steiner added that F1’s surging U.S. popularity could lead to more American drivers in a few years, as more aspiring racers look to that path and “not only into NASCAR or IndyCar.”

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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]]!

Conversation Starters The American sports betting industry posted [[link removed]] a record $1.68 billion in revenue for Q3 2022, beating the previous record of $1.62 billion set in Q1 2022 and marking an 80.6% year-over-year increase. The NFL was the dominant player on U.S. television during the first half of the 2022 season, but “Thursday Night Football” streaming experienced [[link removed]] a decline in overall viewership. As part of a promotional shoot for the 2023 Las Vegas Grand Prix, Red Bull drove [[link removed]] an F1 car inside the Wynn Casino. Today's Action

NHL

10:00 PM

Wild (-140) at Kraken (+120)

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09:30 PM

Colorado (0) at USC (0)

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07:00 PM

Lightning (-140) at Capitals (+120)

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Thursday’s Answer

52% of respondents would consider getting their teeth professionally whitened; 11% already do.

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