March 28, 2023

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The Buffalo Bills released renderings [[link removed]] of their $1.4 billion stadium project — which will be funded [[link removed]] in part by $600 million from the state of New York, $550 million from the NFL, and $250 million from Erie County.

College Athletics Star-Studded Women’s Final Four Matchup Could Set Ratings Record [[link removed]]

Jeff Blake-USA TODAY Sports

The women’s Final Four in Dallas will feature the most anticipated matchup of the season: the South Carolina Gamecocks and the Iowa Hawkeyes.

The game could easily set a record for the most-watched women’s semifinal in the past decade [[link removed]] — and top the 2013 Notre Dame-UConn matchup that drew three million viewers. It could even set a new record.

It will be a showdown between the best defensive and offensive programs that women’s college basketball offers.

South Carolina’s Aliyah Boston has a resume that’s too long to list — but highlights include the 2022 Naismith Defensive Player of the Year and multiple overall Player of the Year accolades. Iowa’s Caitlyn Clark is a Naismith Player of the Year finalist and the first men’s or women’s player to post a 40-point triple-double in the NCAA tournament.

Another factor: a trend of skyrocketing [[link removed]] ratings during recent Final Fours, no matter the matchup.

LSU and Virginia Tech, which makes its first appearance, will battle in the other semifinal on Friday.

Undervalued NIL Power?

Neither Clark nor Boston cracks the top 10 in estimated earning potential, according [[link removed]] to On3. Clark ranks 12th at $160,000, while Boston ranks 15th with a potential of $104,000.

Those are just estimates, though. So far, Clark has inked multiple deals — most notably her partnership with Nike. Boston has a unique deal with Under Armour and at least 11 other deals with companies like Orangetheory.

Both players were featured in a Buick campaign highlighting women’s sports.

World Chelsea FC Reports $149M Net Loss Due to Sanctions [[link removed]]

Chelsea FC

Premier League giant Chelsea is still feeling the effects of sanctions against its previous owner.

In its annual financial results report, Chelsea FC Holdings Limited reported [[link removed]] a net loss of almost $149 million for the fiscal year ending June 30, 2022.

The blame is primarily chalked up to previous Russian owner Roman Abramovich, the subject of sanctions by the U.K. government over his ties to Vladimir Putin after Russia’s invasion of Ukraine in March 2022.

As a result, the club had to operate with a special license — which placed restrictions on ticket and merchandise sales, event bookings, and contracts with players, coaches, other staff, and commercial sponsorship partners — until the club was sold to American businessman Todd Boehly in May 2022 for a record $5.4 billion.

Still, the club enjoyed some financial success.

Chelsea’s turnover figure increased to $591.4 million from $534.4 million the year before. It also reported a profit of $151.4 from player trading after spending $145 million on the squad during the fiscal year.

The next player bill is bound to be much higher, as the Boehly-led Chelsea accounted [[link removed]] for 37% of a record $1 billion spent by Premier League clubs during the January transfer window.

Despite the losses and expenditures, the club says it will continue to comply with Premier League and UEFA financial regulations.

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Unpacking How NIL is Changing the Game

The NIL industry [[link removed]] has exploded in the nearly two years since the NCAA’s landmark decision to allow college athletes to profit off of their name, image, and likeness.

Since then, brands have partnered with athletes, universities are building out infrastructure and educational programs and new trends have emerged.

Join Front Office Sports today at 1 p.m. ET for an inside look at NIL — and what’s next for college sports, athletes and brands. The virtual event [[link removed]], presented by SponsorUnited, will cover:

How brands are creating partnerships and standing out in a changing NIL landscape. An inside look at collectives and how they have grown to become an essential part of college athletics economics. What brands and athletes need to know to build successful partnerships.

Grab your spot and register now [[link removed]]!

Media TikTok, Big for Sports and NIL, Could Face U.S. Ban [[link removed]]

Troy Wayrynen-USA TODAY Sports

TikTok is growing in importance to sports advertisers — but could face a ban in the U.S.

The short-form video platform has an estimated 150 million American users — nearly half the country — and companies are using the platform to leverage major sporting events.

Degree launched [[link removed]] TikTok ads starring Milwaukee Bucks superstar Giannis Antetokounmpo around March Madness. T-Mobile supplemented its Super Bowl campaign with a TikTok ad buy. State Farm opted not to run a Super Bowl ad this year and prioritized the China-based social platform instead.

TikTok saw [[link removed]] the largest growth among major social platforms last year in sports-related engagement. The platform’s sports activity grew 65% from 2021 to 2022, compared to 22% for Facebook and 8% for Twitter.

The WWE, FIFA World Cup, and NBA led the pack among major sports properties on the platform.

The platform can also influence college athletes’ NIL value. Many of the top NIL athletes by NIL earning power, according to On3, have huge TikTok followings, including Bronny James (5.7 million), Olivia Dunne (7.3 million), and Mikey Williams (2.1 million).

Banned in the USA?

However, there is bipartisan interest [[link removed]] in banning TikTok in the U.S.

The Biden administration and lawmakers in both parties have raised concerns that the Chinese government could compel the company to hand over data on American users.

However, the anti-TikTok sentiment in Washington isn’t unanimous. Influential Democrats Jamaal Bowman and Alexandria Ocasio-Cortez have spoken out against banning the app.

Deals Collective Focusing on Women’s Pro Sports Raises $100M [[link removed]]

Jayne Kamin-Oncea-USA TODAY Sports

Monarch Collective, a private equity firm focused [[link removed]] on professional women’s sports, has raised $100 million. The company is branding itself as the first investment fund specifically created for supporting women’s sports.

The fund was launched last year by a group of prominent sports investors: Jasmine Robinson, former partner of Causeway Investors and the San Francisco 49ers, and Kara Nortman, co-founder of Angel City FC and former Upfront Ventures partner.

Billie Jean King is among the company’s initial investors.

The pair plan to focus on leagues like the WNBA and NWSL — while also expanding to global women’s sports leagues.

The company is following two major trends: an uptick in popularity for women’s sports across the board and an increase in investment funds looking to support ventures backed by women.

Serena Williams, for example, has quietly built up her own venture capital firm Serena Ventures — which raised $111 million last year. Williams plans to put the money toward companies run by “diverse” founders.

Conversation Starters From March bracket busters to magic at The Masters, Atmosphere Sports is the ultimate streaming destination for businesses that want constant sports news, live scores, and highlights. Learn more [[link removed]].* This MLB season, Melissa Lambert will become the first [[link removed]] on-field female staff member in Kansas City Royals history, serving as the club’s Director of Behavioral Science. Ryan Reynolds and Rob McElhenney’s Wrexham AFC is launching [[link removed]] a U.S. tour for the first time this summer. The club has announced a July exhibition against Manchester United in San Diego. Texas men’s basketball head coach [[link removed]] Rodney Terry — who took over after Chris Beard’s dismissal — has shed the “interim” tag after leading the Longhorns to their first Elite Eight in 15 years.

SPONSORED BY ANHEUSER-BUSCH

Rising 25 Nominations Are Here!

Rising 25 is back and it’s time to nominate an up-and-coming young professional changing the game in the business of sports!

The Front Office Sports Rising 25 Award [[link removed]], presented by Anheuser-Busch, celebrates the careers of the brightest young stars in the business of sports. To date, we’ve honored 150 individuals and we’re looking for our next group of young stars.

Nominations are open NOW through Tuesday, May 2. Winners will be announced in June.

Nominate, today [[link removed]]!

Front Office Sports Today They Said What?

Scott Wachter-USA TODAY Sports

“[NIL] is still the Wild West now because any entity can transact with a student athlete for his or her name, image, and likeness exchange. That means if you want to attract an athlete as an entity, you can do that with money. Attracting an athlete, or recruiting, is one of the most important aspects of how college sports works.”

— Jim Cavale, founder and CEO of INFLCR, on the NCAA’s current lack of regulations on NIL deals. For more on that, check out the latest episode of Front Office Sports Today.

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

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