March 17, 2023

Read in Browser [[link removed]]

PRESENTED BY PITCHBOOK

Princeton’s first-round upset [[link removed]] of No. 2 Arizona looks even more impressive when you factor in the disparities between the two schools. Princeton’s home arena, Jadwin Gymnasium, seats 6,800 – while Arizona’s McKale Memorial Center holds 14,600. The last time Princeton won an NCAA tournament game was in 1998, a year after Arizona won its lone national title.

Deals Michael Jordan in Talks to Sell Charlotte Hornets [[link removed]]

Sam Sharpe-USA TODAY Sports

Michael Jordan is reportedly in advanced talks to sell his majority of stake in the Charlotte Hornets, a potential deal that could leave the NBA without a Black controlling owner.

ESPN reported [[link removed]] Thursday that Jordan was negotiating with Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, although the transaction wasn’t imminent.

Messages left with the Hornets by Front Office Sports were not immediately returned.

Jordan’s $275 million purchase of the Hornets was approved by the NBA’s Board of Governors in 2010. Four years prior, the six-time NBA champ acquired a minority interest in the team.

Jordan is expected to keep a minority interest in the Hornets, according to ESPN.

As one celebrity owner possibly exits the NBA, another is poised to jump in.

Baseball great Alex Rodriguez is looking to take over the Minnesota Timberwolves.

The former New York Yankees slugger and partner Marc Lore need to fork [[link removed]] over $250 million by March 28 as part of a $1.5 billion takeover.

There’s been skepticism about whether they’ll hit the deadline. But a spokesman for Rodriguez told the New York Post [[link removed]]: “The money is in the bank and ready to be funded today.”

The few NBA teams that come on the market are fetching impressive valuations.

The Phoenix Suns sold [[link removed]] for a league record $4 billion to new owner Mat Ishbia in 2022.

Joe Tsai paid $3.3 billion for the Brooklyn Nets in 2019. Tilman Fertitta paid $2.2 billion for the Houston Rockets in 2017.

With a valuation of $7 billion, Forbes [[link removed]] pegged the Golden State Warriors as the NBA’s most valuable team in 2022.

The New York Knicks ($6.1 billion), Los Angeles Lakers ($5.9 billion), Chicago Bulls ($4.1 billion), and Boston Celtics ($4 billion) rounded out the Top 5 most valuable teams.

The Hornets ranked 28th out of 30 NBA clubs with a valuation of $1.67 billion.

College Athletics Cinderella Tourney Runs Could Lead to Big NIL Paydays [[link removed]]

Eric Rueb / The Providence Journal / USA TODAY NETWORK

With March Madness underway, an unexpected hot streak or unlikely hero can become a national story — and under today’s NIL regulations, that can mean big paydays for players in the NCAA tournament.

Doug Edert, for instance, helped Saint Peter’s Peacocks — a 15-seed in 2022 — to an unlikely run to the Elite Eight last year, helping him amass an NIL brand value of more than $120,000, according to On3. He struck multiple deals, including one with Buffalo Wild Wings.

On3 doesn’t list any basketball players on the Furman Paladins in its NIL valuation database, but that could change if the team is able to build on its first-round upset of fourth-seeded Virginia and go on a Cinderella run.

Going into this tournament, On3 sees [[link removed]] Kentucky center Oscar Tshiebwe as holding the highest NIL value in the tournament ($915,000), followed by Indiana forward Trayce Jackson-Davis ($887,000) and Miami’s twin guards [[link removed]] Haley and Hanna Cavinder ($835,000 each).

The gender disparity seen in other sports appears in NIL as well. Men make around 60% of NIL dollars in non-football sports, according [[link removed]] to Opendorse.

Adding football back in, men make around twice what women do through NIL. Through February, football accounts for 55.1% of NIL deals since the Supreme Court legalized them in June 2021.

PRESENTED BY PITCHBOOK

Bringing the NWSL to the Bay

When Leslie Osborne [[link removed]] learned that Los Angeles would be getting its very own NWSL team – now Angel City FC – she knew if L.A. was getting a team, she had to do everything she could to bring a team to the Bay Area.

So for the last two and a half years, Osborne and her co-leaders of #NWSLToTheBay have been partnering with investors in Silicon Valley to make this dream a reality.

In the third and final episode of Driven with Michelle Wie West [[link removed]], in partnership with PitchBook, learn about Osborne’s experience attracting investors, raising funds, and bidding for an NWSL expansion team. Plus, Osborne’s own experience as an entrepreneur of Hustle Beauty and as an angel investor.

Watch the full episode [[link removed]] now.

College Athletics At Men’s March Madness, $170M Is Up For Grabs [[link removed]]

Angela Wilhelm/Asheville Citizen Times

Success in the NCAA Division I men’s tournament can help teams can earn their conference a slice of a nine-figure pie.

That’s because part of the NCAA’s annual revenue distributions are awarded based on which teams make it into the Big Dance — and how far they advance.

In 2023, the NCAA will send $170 million to schools from the “Basketball Performance Fund,” and $10 million for participating in the tournaments. The total NCAA revenue distribution for 2023 will top $638 million, according [[link removed]] to NCAA documents.

Here’s how the distribution works:

Each conference earns a distribution for eligibility in the men’s and women’s tournaments — conferences are each awarded one automatic bid for their conference tournament champion. Then, conferences receive what the NCAA calls a “unit” for each of its teams that makes the tournament beyond the conference champion’s automatic bid. The Big Ten will earn the most of these units this year after qualifying eight teams. Conferences receive additional units for each team that advances. No units are awarded for the championship round. Units are averaged on a six-year rolling basis.

However, the NCAA has been blasted for not having a similar performance fund for the women’s tournament. Experts have said the lack of a women’s fund disincentivizes schools to invest in women’s basketball, creating equity issues.

The governing body is in the process of considering [[link removed]] how to amend the distribution plan.

World Pitch Width At SoFi Could Cost It The World Cup Final [[link removed]]

Kirby Lee-USA TODAY Sports/Design: Alex Brooks

Since opening in 2020, the glitzy SoFi Stadium in Los Angeles has been home to both the Super Bowl and College Football Playoff National Championship.

But the venue — which took five years and $5 billion to build — might no longer be a contender for the World Cup Final in 2026 thanks to a construction error: The width of the field is much too narrow for FIFA’s taste, according [[link removed]] to The Times.

SoFi would have to revamp its field to be 63 feet wider in order to get back in the running to stage the event. To do so, it would have to remove seats — another potential issue given that its original capacity of 70,000 might already be too modest for a World Cup Final.

The irony isn’t lost on soccer fans, who are questioning how Los Angeles Rams owner Stan Kroenke — also the owner of the Premier League club Arsenal — could have allowed for such a snafu.

If Los Angeles is out of running, the World Cup Final could be played across the country at MetLife Stadium in New Jersey, which seats about 82,000. Either way, SoFi will at least get to host early-round games.

SPONSORED BY NEXT LEAGUE

Sports Are Different

For those who are lucky to work in sports, regardless of the capacity, you know sports are different. With technology evolving faster than ever before, it continues to become a more important part of the sports business every year.

The team at Next League [[link removed]], who has been delivering technology solutions for global sports organizations for over 20 years, put together this 2023 Industry Outlook report [[link removed]] highlighting the nine sports technology topics they think will be most important for the industry this year (and beyond).

From Sports Betting and Artificial Intelligence to Real-Time Content Delivery and Smart Stadiums, there is a lot to focus on. Download the report [[link removed]] to learn how you can reach and engage a new generation of sports fans by leveraging the latest technologies and innovations.

Conversation Starters Winning a handful of upsets [[link removed]] in March can make any school a “Cinderella.” The impact across social media, merch sales, and even enrollment can last for years. Princeton is the only team in the NCAA tournament without [[link removed]] any players on athletic scholarship. The Ivy League only provides “need-based” aid. Front Office Sports Today They Said What?

Jerome Miron-USA TODAY Sports

“Baseball is at an interesting inflection point because historically, there has been a lot of cohesion between the ownership. Now, you’re getting back to, in my opinion, a lot of big-market vs. small-market economics.”

— Jon Cohen, senior vice president of Frequency, on the economic impact of the bankruptcy of Diamond Sports Groups and other regional sports networks on the latest episode of Front Office Sports Today.

Listen and subscribe on Apple [[link removed]], Google [[link removed]], and Spotify [[link removed]].

Today's Action

NHL

06:30 PM

Columbus Crew (+340) at York Red Bulls (-125)

Bet Now [[link removed]]

NCAA

12:00 PM

Saint Louis [W] (0) at Tennessee [W] (0)

Bet Now [[link removed]]

NHL

07:30 PM

Earthquakes (+290) at Louis City SC (-120)

Bet Now [[link removed]]

*All times are EST unless otherwise noted.

*Odds/lines subject to change. T&Cs apply. See [[link removed]] for details.

Question Of The Day

Have you ever been camping?

Yes [[link removed]] No [[link removed]] No, but I want to [[link removed]]

Thursday’s Answer

48% of respondents would travel 0-10 minutes to play pickleball at an air conditioned, amenity based venue, 28% would travel 11-20 minutes, 17% would travel 21-30 minutes, and 6% would travel 31+ minutes.

Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Video [[link removed]] Podcast [[link removed]] Pro [[link removed]] Written by Owen Poindexter [[link removed]], Amanda Christovich [[link removed]], Michael McCarthy [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[link removed]]

If this email was forwarded to you, you can subscribe here [[link removed]].

Update your preferences [link removed] / Unsubscribe [link removed]

Copyright © 2023 Front Office Sports. All rights reserved.

80 Pine Street Suite 3202 New York, NY 10005