December 13, 2022

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He may not graduate high school until 2025, but Bryce James is already attracting the type of NIL attention befitting a son of basketball royalty. Klutch Sports Group announced [[link removed]] that James — LeBron’s younger son — has signed with the agency for NIL representation.

Number of Sports Teams For Sale Grows As Prices Soar [[link removed]]

Brad Mills-USA TODAY Sports

Anyone currently looking to own a professional sports team has plenty of options available.

At least 10 pro teams are exploring sales, including MLB’s Washington Nationals and Los Angeles Angels, the Premier League’s Liverpool FC, and the NHL’s Ottawa Senators.

Several other teams are on the market following scandals involving their current owners.

The NWSL’s Portland Thorns and Chicago Red Stars are for sale [[link removed]] after an NWSL investigation linked Thorns’ owner Merritt Paulson and Red Stars’ owner Arnim Whisler to misconduct. Washington Commanders owner Dan Snyder hired [[link removed]] Bank of America last month to explore [[link removed]] “potential transactions.” Snyder and the Commanders are under investigation for sexual harassment and financial misconduct. Robert Sarver, the NBA’s Phoenix Suns and WNBA’s Phoenix Mercury owner, is selling [[link removed]] the teams following an NBA-commissioned report detailing his repeated acts of misogyny and racism.

Manchester United’s owners, the Glazer family, is exploring [[link removed]] a sale after repeated demands to do so from fans in protest of their handling of the team.

Soaring Sales

Teams are expected to receive substantial returns on their sales as their value continues to increase. Forbes found in its September report [[link removed]] that the world’s 50 most valuable sports teams are worth 30% more than they were a year prior.

Already this year, the Denver Broncos set a record [[link removed].] for an NFL team sale price after Chelsea FC set its own sale record [[link removed]].

Group: FIFA Using ‘Sinister’ Tactics to Avoid Compensating Workers [[link removed]]

Yukihito Taguchi-USA TODAY Sports

A coalition of leading human rights groups called out FIFA for obfuscating the treatment and deaths of migrant workers throughout the construction of World Cup venues.

The Migrant Rights Coalition said [[link removed]] FIFA hasn’t made any serious effort to compensate the migrant workers who helped build World Cup stadiums and infrastructure. The coalition comprises Human Rights Watch, Amnesty International, FairSquare, and Equidem.

FIFA established [[link removed]] a Legacy Fund from a percentage of its World Cup commercial revenue in November to provide educational resources in developing countries and create an organization focused on labor best practices. Human Rights Watch acting executive director Tirana Hassan called FIFA’s efforts “egregious whitewashing of serious abuses against migrant workers in Qatar” and a “sinister tactic” to avoid compensating workers and their families for injuries, wage theft, and death. In February 2021, the Guardian reported [[link removed]] that 6,500 migrant workers had died in Qatar since the country was awarded the World Cup in 2010. Qatari officials have disputed that figure, saying it was 400-500.

The tournament continues on Tuesday with Argentina’s semifinal match against Croatia, followed by France against Morocco on Wednesday.

Tragedy at Team Facility

A migrant worker died in a reported forklift accident [[link removed]] at a resort used by the Saudi Arabia team while the squad was still in the tournament. The area was under FIFA’s jurisdiction.

World Cup CEO Nasser Al Khater said that “death is a natural part of life” while offering his condolences to the worker’s family.

The incident is under investigation by the Qatari government.

SPONSORED BY FEVO

Find New Fans Selling Through Costco.com

FEVO [[link removed]] has hit another home run: The social e-commerce platform announced the expansion of its exclusive Costco Distribution program for MLB partners. Now, in addition to Costco Warehouses, MLB partners can now sell through Costco.com.

With over 50M monthly visitors to Costco.com, FEVO’s partnership gives clients access to a vast new audience — dramatically increasing awareness and incremental sales.

Here’s how it works:

A fan purchases a special bundled offer on Costco.com [[link removed]] An email is sent with next steps, a voucher code, and a unique redemption link The voucher is then redeemed after the fan selects their desired game date using the voucher code An email is sent to the fan with instructions on accessing tickets

Learn how [[link removed]] to get started on your Costco.com offer.

Fanatics Could Kick Off Major Sports Betting Push in January [[link removed]]

Geoff Burke-USA TODAY Sports

A major new player on the sports betting scene is expected to make its debut next month.

Fanatics is aiming [[link removed]] to launch its BetFanatics app next month in Maryland.

Fanatics already has connections to millions of consumers through its retail platform and collectibles company. Last month, it struck a deal to become the sports betting operator of the Washington Commanders, who play in Maryland. Fanatics also has market access in Ohio, which will allow legal sports betting starting Jan. 1.

CEO Michael Rubin said in October that the sportsbook will be live in 15-20 states by the start of the next NFL season.

Fanatics raised [[link removed]] $700 million this month, bringing its valuation to $31 billion. The cash is earmarked for mergers and acquisitions, which could be used to accelerate its growth in the sports betting market.

The company has designs on being the top sports betting company in the U.S. within a decade.

Maryland Takes Off

Maryland is off to a flying start after launching legal sports betting on Nov. 21.

The state saw mobile bets totaling [[link removed]] $186 million in its first nine days, with $63.8 million coming from sportsbook promotional offers.

Maryland sportsbooks may offer unlimited promotions in their first year of operations — but must limit them to 20% of their taxable win thereafter.

Manchester City Mulls Major Stadium Expansion [[link removed]]

MCFC

Manchester City is considering expanding the capacity of its home field.

The Premier League club — owned by City Football Group — plans to conduct [[link removed]] studies to determine the viability of a new development project centering on Etihad Stadium.

The stadium has a capacity of 53,400, and expansion would make it more than 60,000. A development project would include a hotel, a new club shop, and a museum. The club will hold formal consultations in early 2023.

The potential expansion of Etihad Stadium is part of a larger plan by CFG — which has full or partial stakes [[link removed]] in 13 soccer clubs — to make the area a year-round entertainment destination.

In May 2021, California-based development and investment firm Oak View Group agreed [[link removed]] to a joint venture partnership with CFG to build Co-op Live, a $495 million indoor music and entertainment arena next to Etihad. The venue is scheduled to open in late 2023.

Co-op Live comes on the heels of strong financial results for Manchester City.

The club generated [[link removed]] $815 million in revenue for the financial year ending June 30 — a $50 million increase compared to the year prior.

Pitching New Places

Paris Saint-Germain is reportedly considering [[link removed]] moving from Parc des Princes, its home since 1974.

Everton has broken ground on a $694 million stadium set to open [[link removed]] in the 2024-2025 season, while AC Milan and Inter Milan plan [[link removed]] to build a new $1.3 billion stadium slated to open in 2027.

Chelsea is reportedly looking to build [[link removed]] a new stadium on the Stamford Bridge site.

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NFTs and the Future of Digital Collectibles

With the rise of digital ownership and Web3, NFTs have become the talk of the town.

But how will they impact the sports industry?

To answer this question, look no further than Metaverse Essentials: Building the Future, our latest free course [[link removed]], together with Meta, which breaks down the ever-evolving connection between sports and the metaverse.

The five-lesson course includes Pushing Culture Forward with Digital Collectibles, where Meta’s Emerging Sports Industries Lead, Omar Wilson, is joined by digital collectible execs from Dibbs, Dapper Labs, OneFootball, HEIR, and New Game Labs to discuss how the blockchain and NFTs will reshape both physical and digital collectibles [[link removed]] experiences for creators, brands, and fans across the globe.

Register [[link removed]] for the course today!

Conversation Starters FTX founder Sam Bankman-Fried was arrested [[link removed]] on Monday night by authorities in the Bahamas at the request of the U.S. government and reportedly faces wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering charges. From buzzer-beaters on the hardwood to Hail Marys in the end zone, Atmosphere Sports is bringing sports back to the center with scores, highlights, and more. Learn more [[link removed]].* Fox cut away [[link removed]] from the 49ers’ rout of the Buccaneers on Sunday, but it’s not unusual for networks to cut away from blowouts — in fact, Fox did just that earlier in the day, switching from Eagles-Giants to Texans-Cowboys. Under Armour founder Kevin Plank has listed his $21.5 million mountain penthouse condo in Park City, Utah. Check it out. [[link removed]] Question Of The Day

In the last year, have you become more interested in women's sports?

Yes [[link removed]] No [[link removed]]

Monday’s Answer

15% of respondents bet on 1-3 sporting events a year and 33% bet on 4+ a year.

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