November 29, 2022
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By beating Iran 1-0 on Tuesday, the USMNT secured [[link removed]] a berth in the World Cup’s knockout round — and $13 million in guaranteed prize money.
New Oakland Mayor to Prioritize Keeping A’s [[link removed]]
D. Ross Cameron-USA TODAY Sports
Oakland’s incoming mayor will work to keep the A’s — but insists that the city protect its own budget in any deal.
Sheng Thao, who will replace mayor Libby Schaaf in January, has maintained Schaaf’s priority of keeping the team while not depleting city coffers.
“I am going to put every single effort into keeping the A’s here,” Thao said [[link removed]], “but I refuse to allow for the taxpayers of Oakland to be held responsible for any of the finances of developing the stadium.”Schaaf’s administration lobbied for state and federal grants for infrastructure improvements to help account for the increased foot and vehicle traffic a new stadium would bring.
The A’s have proposed a $12 billion waterfront stadium, housing, and retail area at Howard Terminal. In June, a city commission voted to remove the area’s “port use” designation, allowing the project to go ahead.
The city and team must still arrive at a final agreement.
City On Deck to Spend
Whether or not the A’s stay, Oakland is prepared to spend [[link removed]] from a $259 million state grant on projects mostly located between Howard Terminal and the downtown area.
While the funding will be key to any deal it is not dependent on the A’s proposed development. The A’s have asked the city to improve streets, sidewalks, and lighting to make transportation to the Howard Terminal area easier and safer for pedestrians.
Nike, Adidas Could Reduce Order Volumes By 40% [[link removed]]
Shutterstock
Order volumes for major sportswear brands are anticipated to decline starting next year.
Companies like Nike and Adidas are expected [[link removed]] to reduce their order volumes by 30%-40% beginning next summer, with both companies reportedly notifying their manufacturing plants.
It’s unclear how long it will last, but some outlets have reported that the volume decrease is expected to continue until the winter — likely resulting in less footwear on the market until summer 2024.
The reduction is primarily attributed to pandemic-related hurdles in China and companies pulling out of Russia.
Russia and Ukraine accounted [[link removed].] for less than 1% of Nike’s total revenue. The company permanently exited Russia in June.Adidas suspended [[link removed]'t%20mean%20to,global%20revenue,%E2%80%9D%20he%20said.] its Russia operations in March. The country made up about 2% of its revenue.
The retail market in North America and Europe has seen growth, but is also expected to drop.
In Vietnam and Indonesia, average factory operation rates have already dropped from 82%-84% to 61%.
Purchasing Plans
The decline in order volumes will start after [[link removed]] a record Black Friday this year — sales raked in $9.12 billion from online shoppers, with online exercise equipment purchases up 218% year-over-year.
But the trend may be changing. More than 60% of Americans said [[link removed].] the state of the economy was impacting their holiday spending.
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La Liga Calls for Sanctions on Juventus [[link removed]]
Juventus FC
Spain’s premier soccer league has taken exception to an iconic Italian club.
La Liga has called for sanctions [[link removed]] on Juventus FC after a shakeup of the Serie A club’s board following heavy financial losses and alleged financial improprieties. The call is a byproduct of the league’s campaign for stricter regulation throughout European soccer.
On Monday, the entire board of Juve — including president Andrea Agnelli — resigned [[link removed]] amid an investigation for allegedly taking illegal commissions from player transfers and loans, as well as false accounting practices regarding those transactions.
La Liga plans to ask UEFA and Serie A to impose sanctions on Juventus.Sanctions could include point deductions or financial constraints, per Bloomberg.Shares in the team fell [[link removed]] 6% in early trading Tuesday in Milan before recovering.
Earlier this year, La Liga submitted a complaint regarding Juventus — the ninth-most-valuable club in the world at $2.45 billion, per [[link removed]] Forbes — but the league has also targeted other big European teams including Manchester City and Paris Saint-Germain for what it believes are violations of FIFA’s Financial Fair Play rules due to irregularities [[link removed]] regarding revenues and costs.
Heavy Losses
Juventus reported a $246.1 million loss for the 2021-22 season — the largest financial deficit in Serie A history and the club’s fifth consecutive annual deficit. The club attributed the loss to the pandemic and reduced media revenue due to an early exit from the UEFA Champions League.
Over the past three years, Juventus has reported a combined loss of $517.45 million.
Conversation Starters According to a top Qatari official, somewhere between 400 and 500 migrant [[link removed]] workers died building stadiums for the 2022 World Cup. Today’s Leadoff brings all the drama: Paris Saint-Germain seeks a valuation of more than $4 billion, tension ramps up ahead of the USA-Iran World Cup match, Microsoft’s acquisition of Activision Blizzard draws the FTC’s attention, and Adidas’ troubled relationship with Ye goes back years. Listen here [[link removed]]. Learn how ESPN is using emerging technologies to meed the needs of the consumer in our recent interview [[link removed]] with Kevin Lopes, VP of Business Development and Innovation.*
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What to Watch
The Golden State Warriors (11-10) face the Dallas Mavericks (9-10) on Tuesday night at the American Airlines Center.
How to Watch: 7:30 p.m. ET on TNT
Betting Odds: Warriors -1.5 || ML -125 || O/U 228
Pick: Expect the Warriors to extend their three-game win streak. Take Golden State to cover.
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