Also: FIFA may drop Saudi sponsor for 2023 Women’s World Cup. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌
Read in Browser

Front Office Sports

PRESENTED BY

Still battling with the LIV Golf threat, the PGA Tour has announced some big changes for some of its biggest events — and not everyone is pleased. Check out Front Office Sports Today for a look at the current state of pro golf, plus a conversation with PGA Tour Superstore CEO Dick Sullivan on the continuing growth of the game. 

Listen and subscribe on Apple, Google, and Spotify.

Teams

‘Clarity’ on Man United Ownership Expected Before Season’s End

Manchester United FC

More questions surrounding the sale of Manchester United should be answered soon.

The team’s staff is expected to receive “clarity” on its ownership situation before the season ends in May, according to ESPN. There have been concerns the sale process has been stalled as the Glazers hold out for a reported $7.2 billion price tag.

It was recently reported that if no deal is reached by the end of the season, any potential sale could be in jeopardy.

The only two public bids are from Qatari Sheikh Jassim bin Hamad Al Thani and British billionaire Jim Ratcliffe’s INEOS, with the former interested in a full takeover and the latter in a reported 69% stake. 

Representatives of the two bids — which reportedly aren’t more than around $5.4 billion — will meet with the club before the end of March. Forbes last valued Manchester United at $4.6 billion.

Elliott Management, Ares Management, and Oaktree Capital have all reportedly offered funding to bidders.

ESPN also reported that the Glazers, who purchased the team in 2005 for $942 million, are prioritizing offers for a full takeover. The family hired the Raine Group in November to explore a full or partial stake sale.

World

FIFA Reportedly Dropping Saudi Deal for Women’s World Cup

FIFA

FIFA is reportedly planning to drop Saudi Arabia’s tourism board as a sponsor for the 2023 Women’s World Cup.

The Athletic reported Visit Saudi as a tournament partner in January, but the announcement received criticism in regard to the nation’s controversial human rights record. Shortly after, hosts Australia and New Zealand wrote a letter to FIFA demanding clarification, as they were not consulted on the deal. 

FIFA hasn’t commented publicly on the matter. 

“While we acknowledge some important and positive gender equality reforms have commenced in Saudi Arabia, it remains undeniable under any reasonable standard that the rights of women remain severely restricted,” Football Australia and New Zealand Football wrote in a letter.

The amount of criticism was reportedly a shock to FIFA, which is now looking at how it can remodel the current agreement — it hopes to find a solution before the FIFA congress’ next session later this month.

The Sydney Morning Herald reported that the deal could be disassociated from Saudi Arabia’s tourism board and credited to another Saudi body.

Amnesty’s Anger

Amnesty International said the deal would allow for a “crude exploitation of their sport.”

The organization has also recently pushed the Premier League to look more into Newcastle United’s ownership links between Saudi Arabia’s Public Investment Fund and the Saudi government.

Real Estate

Mets’ Citi Field Earned Record $244M in 2022 Revenue

Brad Penner-USA TODAY Sports

Fortunately for them, the big-spending New York Mets have a ballpark that brings in major profits.

Citi Field’s finances were revealed in documents seen by Forbes, providing a rare look into the major costs and revenue drivers of an MLB team.

The document shows that Queens Ballpark Company, a subsidiary wholly owned by the Mets which operates Citi Field, earned a record $244.3 million in revenue in 2022.

  • Of that sum, more than half, $133 million, came from ticket sales. Luxury suite premiums added an additional $10.3 million.
  • Advertising and concessions were the second- and third-biggest revenue drivers with a respective $48.5 million and $22.3 million on the year. Parking fees chipped in $12.4 million.
  • The team hosted only three postseason games, but those brought in $7.7 million.

Operating expenses reached $114.7 million, meaning Citi Field generated a net profit of $129.6 million.

The figures do not include other revenue sources, namely from media rights. The team earns over $80 million from its local cable network, SNY, and more than $60 million from national broadcasting deals distributed evenly to all teams.

The Mets will spend nearly $500 million on players’ salaries and luxury tax payments this year. Team owner Steve Cohen said that the team lost money in 2022, but declined to say how much.

Conversation Starters

  • The PGA Tour is making a pivotal change to its “player endorsement policy” this season to protect itself and its players from “ambush marketing” from sponsors affiliated with rival tours.
  • The case of Washington Commanders owner Dan Synder could be the first to trigger a process for which the NFL has less than a thousand words on the books: the removal of a team owner. 
  • “Creed III” has shattered box-office records with a $58.6 million domestic opening — the biggest opening weekend ever for a sports movie.

What to Watch

The Atlanta Hawks (32-32) take on the Miami Heat (34-31) on Monday at Miami-Dade Arena.

How to Watch: 7:30 p.m. ET on NBA TV

Betting Odds: Heat -2.5 || ML -145 || O/U 229

Refer Friends, Win Merch

Ready to rep your favorite newsletter? Refer your friends and colleagues to Front Office Sports and you could win FOS merchandise.

It’s easy to spread the word. Copy and paste your unique link below and share it in an email or on your timeline.

Referral Count: 0

Copy your invite link: https://frontofficesports.com/newsletters/?rh_ref=0d56433a

Or share on social media: