🏀 68 Teams
🏆 1 Champion
💰 $226 million
Inside the very complex way that the
@NCAA
rewards teams for their success during
#MarchMadness
. You may *think* you understand "units," but not like this... A labor of love with
@LevAkabas
and
@matt_p32
👇
BREAKING:
@russwest44
is part of the investor group (led by the
@49ers
) taking over Leeds United.
Westbrook just mentioned the
@LUFC
investment at an event co-hosted by
@Sportico
/
@variety
. He joins
@KingJames
(Liverpool) as an active
@NBA
player invested in the Premier League.
NEWS:
@barstoolsports
is getting back into sports betting.
@stoolpresidente
's company is in advanced talks with
@DraftKings
on a multi-year marketing deal.
Would be announced after Super Bowl (can't be earlier, due to $PENN separation). Details 👇
NEWS: Meadowlark, the new media company launched by John Skipper and
@LeBatardShow
, has announced its first collaboration.
@HankAzaria
is bringing Jim Brockmire back in a 10-episdoe interview show
🚨 Highest Paid Athletes 🚨
The
@kbadenhausen
/
@LevAkabas
tag team is back again, with the highest paid athletes in the world.
@TheNotoriousMMA
is in a league of his own this year.
Story:
BREAKING:
@NHL
owners have approved jersey patches for the 2022-23 season. 3-inch x 3.5-inch ad space, so slightly bigger than the
@NBA
patches.
More from me and
@soshnick
👇
NEWS: The
@Braves
sold more merch in the 30 minutes after winning the World Series than any other
@MLB
champion in
@Fanatics
history.
Braves championship gear is on pace to be the third best-selling World Series for Fanatics, behind the
@Cubs
in 2016 and the
@Dodgers
in 2020.
BREAKING: The buyer nearing a deal to purchase the Nashville Predators is former Tennessee governor
@BillHaslam
, brother of Browns owner Jimmy Haslam.
We value the
@PredsNHL
at $680 million. Forbes says Bill Haslam is worth $2.3 billion.
BREAKING: The Nashville Predators are nearing a sale of the
@NHL
franchise, according to people familiar with the talks
Buyer/price is unknown.
@Sportico
values the team at $680 million, ranked No. 26 in the NHL. More from me,
@soshnick
and
@kbadenhausen
🚨BREAKING: Josh Harris has reached an agreement to buy the
@Commanders
for $6 billion.
Dan Snyder and the Harris group, which includes billionaire Mitchell Rales, are hoping to execute the contract in the coming days.
More from
@soshnick
and me👇
BREAKING: Former
@Dolphins
coach Brian Flores has filed a class action lawsuit (alongside other Black coaches) against the
@NFL
for its racial hiring practices.
It includes the claim that Flores interviewed for the
@Giants
job knowing that the team had already hired Brian Daboll
NEWS:
@UFC
and
@cryptocom
have signed a new partnership to put the crypto platform's logo on every fighter's kit.
I'm told it's a 10-year, $175 million deal -- the largest marketing partnership cash-wise in UFC history
BREAKING: U.S. sports betting has another casualty.
@MaximBetUSA
has told users it will cease operations and they can withdraw funds through Dec. 15.
Says move comes amid "macroeconomic conditions and an increasingly cost prohibitive marketplace." Investors include
@NICKIMINAJ
BREAKING: The Nashville Predators are nearing a sale of the
@NHL
franchise, according to people familiar with the talks
Buyer/price is unknown.
@Sportico
values the team at $680 million, ranked No. 26 in the NHL. More from me,
@soshnick
and
@kbadenhausen
The Pop Tarts Bowl generated $12.1 million in media exposure for parent company Kellanova as of this morning, per
@ApexMarketing
.
How much did the company pay? A lot less than that. The bowl reported $2.06 million in total sponsorship income in its 2021 tax filing.
BREAKING: Billionaire Steven Rales is buying a 15% stake in the
@Pacers
at a $3.47 billion valuation.
Rales now owns 20% of the team, and has a path to possible control if the Simon family ever wants out.
More from me and
@kbadenhausen
👇
.
@Sportico
's latest
@NBA
valuations are out. Here's how they've changed in that past year, a strange one with a lot of appreciation. Top four remain same:
-
@nyknicks
-- $6.12 billion
-
@warriors
-- $6.05 billion
-
@Lakers
-- $5.63 billion
-
@BrooklynNets
-- $3.61 billion
NEWS: The
@WTA
says it is suspending tournament in China in the wake of the Peng Shuai silencing.
Effective immediately, the women's tennis circuit won't play in China or Hong Kong next year.
BREAKING: The
@NBA
has formed a blockchain task force to explore ways to incorporate the technology across the league's business. It's about a lot more than Top Shot.
Group includes
@mcuban
,
@TedLeonsis
and
@Vivek
. More details with
@soshnick
Michele Kang has responded, through lawyer Beth Wilkinson:
“We are disappointed to learn that Mr. Baldwin continues to repeat these false and inappropriate allegations... We are ready to move forward and focus on the next, exciting chapter for the Washington Spirit.”
BREAKING: The fight over the
@WashSpirit
took another turn Wednesday, when Steve Baldwin sent a scathing email to the
@NWSL
team's investors accusing co-owner Michele Kang of "a coup attempt" and an "endless stream of lies."
@_emcaron
and I have more:
BREAKING: The
@Broncos
have interviewed at least four different bankers about handling a potential sale of the franchise, per sources.
Me and
@soshnick
break down the clearest indication yet that the
@NFL
franchise could hit the market after the season.
BREAKING:
@TGL
, the new golf league backed by Tiger Woods and Rory McIlroy, has sold its first team ⛳️
@serenawilliams
,
@Venuseswilliams
and
@alexisohanian
have purchased the first of six teams that will debut next year. Meet the Los Angeles Golf Club 👇
.
@Patriots
owner Robert Kraft, one of the biggest donors to Columbia and its athletics department, says he will no longer give the school money "until corrective action is taken."
It's unclear if this "boycott" talk will include athletes (or if the U.S. government even has that authority), but the
@StateDept
openly discussing a coordinated boycott of the 2022 Winter Games in Beijing is definitely news.
BREAKING:
@SyracuseU
's Carrier Dome is no more. The school has negotiated a settlement with
@Carrier
to terminate the 'lifetime' naming rights deal.
Local tech company
@JMAWireless
will be the dome's new naming rights partner. More at
@Sportico
👇
BREAKING: Arctos Sports Partners is buying a 5% stake in the
@Warriors
, a deal that values the
@NBA
team at roughly $5.5 billion.
More from me and
@soshnick
on what could be the start of a rush of PE money into U.S. franchises.
BREAKING: The
@ptpaplayers
, the trade association co-founded by Novak Djokovic, has named OneTeam CEO Ahmad Nassar as its new executive director, and raised $26 million from a group that includes
@BillAckman
to launch a new commercial arm.
More details👇
BREAKING: The
@NWSL
's most valuable franchise is for sale.
@weareangelcity
has hired a bank to seek a new control owner, sources tell me/
@soshnick
.
@alexisohanian
, who is lead investor but doesn't have board control, is not selling his shares. More 👇
BREAKING:
@Chargers
owner Dea Spanos Berberian is looking to sell 24% of the
@NFL
team.
It's 15% that she owns personally, plus her stake in the family trust. This comes amid a legal battle between she and her brothers.
More from me and
@soshnick
👇
No public school in the country has more athletics debt than
@CalAthletics
, debt the university has already partially taken off sports to ease the burden.
The Golden Bears are in danger of suffering a massive reduction in revenue.
📉: via
@Sportico
's college finance database
So to recap:
2019 - Former
@Adidas
execs and college coaches get jail time/plea deals in wide-ranging scheme to funnel money to kids to play at Adidas schools
2022 - Adidas says it will pay any athlete at an adidas school.
BREAKING: The
@WNBA
and its teams are valued at $1 BILLION in this recent raise, per
@_emcaron
. The
@NBA
and existing
@WNBA
team owners are being equally diluted in the transaction.
For reference, the least valuable
@NBA
teams is worth ~$1.5B.
Story:
Caitlin Clark jerseys for sale at
@Fanatics
say they'll ship in August "due to
@Nike
's manufacturing times".
Reminds me of the Messi/
@InterMiamiCF
jerseys, which took months after his MLS signing because of
@Adidas
production.
Shocking we can't figure this out in 2024...
NEWS: Las Vegas has emerged as the most likely location for the 30th
@MLS
franchise, and
@Bucks
owner Wes Edens is in the mix.
More from me and
@soshnick
BREAKING:
@Spurs
owner Peter Holt is among the people who have expressed interest in buying
@LigaMxEng
team
@Club_Queretaro
, which is under forced sale. Spurs CEO R.C Buford would be part of group.
More from me and
@soshnick
👇
NEWS: Former
@ESPN
sportscaster
@adnansvirk
is joining Meadowlark, the new media company being launched by former ESPNers John Skipper and
@LeBatardShow
.
Virk's Cinephile podcast will move to Meadowlark's network in July.
More details on Meadowlark 👇
SCOOP: Florida State is working with
@jpmorgan
to raise institutional money for the
@Seminoles
athletic department. PE giant Sixth Street in advanced talks.
Comes with FSU facing a pricy decision on
@theACC
.
More from me,
@kbadenhausen
and
@soshnick
👇
BREAKING:
@UCLA
's new six-year deal with
@Nike
/
@Jumpman23
is worth roughly $7.7 million per year
The school's previous contract with
@UnderArmour
, a 15-year deal that's now the subject of litigation, was worth an average of $18.66 million per year.
Story soon
@Sportico
From 2008-2022, the Dan Snyder-owned
@Commanders
went from first in
@NFL
attendance to dead last.
A remarkable chart, and a cautionary tale for owners in all leagues...
📉:
@Sportico
/
@LevAkabas
NEWS:
@NBCSports
is keeping all of the
@premierleague
's U.S. rights. Six-year deal, with talks having eclipsed $2 billion.
This is now the largest U.S. deal for a European soccer league, eclipsing LaLiga's eight-year $1.4 billion deal with ESPN.
Here's
@Sportico
's ranking of *all* 152 teams in the big five North American leagues:
- All 32
@NFL
teams are in the top 40
- The
@NBA
teams in the Top 10
- Only two
@NHL
teams in the top 75
-
@LAFC
above 17 NHL teams
- Only five
@MLS
teams below Coyotes
BREAKING:
@Sportradar
and Todd Boehly's $HZON have a signed letter of intent on a $10 billion deal that will take the sports data company public.
More from
@soshnick
,
@bpcoffey
and me:
The
@WTA
has followed through on its threat to take its business away from China, at least for now.
A total opposite approach to the one taken by the
IOC, with the Beijing
@Olympics
just three months away.
BREAKING:
@Fanatics
has reached a deal to buy
@PointsBetUSA
's U.S. business. Told the price is around $150 million.
More at
@Sportico
👇 Deal should accelerate Fanatics sportsbook's push into new states, and provide some additional tech/trading ability.
The
@PhoenixMercury
just signed a jersey patch deal worth "about $3 million" per year (!), according to
@epjackson
.
That in the range of early
@NBA
patch deals at the bottom end of the league...
Another update here:
@utahjazz
owner Ryan Smith is also a part of this new ownership group.
@RyanQualtrics
bought the Jazz for $1.66 billion in 2020, and expressed interest in RSL early in the sale process. He was absent from talks for a while, but re-entered in Blitzer group.
EXCLUSIVE: A group led by David Blitzer, co-owner of the Philadelphia 76ers and New Jersey Devils, has reached an agreement to purchase
@MLS
club
@realsaltlake
NEWS: The 5th of the first 6
@TGL
team has sold.
It's San Francisco, led by former
@Bucks
owner Marc Lasry and
@NBA
star
@StephenCurry30
.
It's one of the first (maybe the first) investments for Lasry's Avenue Sports Fund. LPs include Curry teammates
@KlayThompson
and
@andre
.
BREAKING: The fight over the
@WashSpirit
took another turn Wednesday, when Steve Baldwin sent a scathing email to the
@NWSL
team's investors accusing co-owner Michele Kang of "a coup attempt" and an "endless stream of lies."
@_emcaron
and I have more:
BREAKING:
@ESPN
and
@LaLigaEN
have agreed to an eight-year, $1.4 billion media rights deal.
Brokered by the 50-50 JV between the league and Relevent Sports Group, it's the most lucrative U.S. TV deal for an overseas league
@crupicrupicrupi
has more:
David Blitzer is about to become a rare (maybe first??) person to own equity in all five major U.S. leagues. He has stakes in:
NBA:
@Sixers
NFL:
@steelers
NHL:
@NJDevils
and is nearing deals with:
MLS:
@RealSaltLake
MLB:
@CleGuardians
Plus a handful of European soccer teams
EXCLUSIVE: A group led by David Blitzer, co-owner of the Philadelphia 76ers and New Jersey Devils, has reached an agreement to purchase
@MLS
club
@realsaltlake
Shares in Arena Group, the parent of
@SInow
, fell 24.4% today in trading, the day after that fake authors story ran in
@futurism
.
By my math, that's a ~$15.5 million drop in market cap for $AREN
.
@Sportico
has now done valuations for all five major U.S. leagues (shoutout to
@kbadenhausen
). Here's how they compare
@NFL
average: $3.5 billion
@NBA
average: $2.3 billion
@MLB
average: $2.2 billion
@NHL
average: $930 million
@MLS
average: $550 million
.
@Sportico
has now done valuations for
@NFL
,
@NBA
and
@MLB
teams.
Here's the top 20, color coded by sport (I don't think any
@NHL
team would crack list anyway)
Wow. Flores also accuses
@Broncos
brass, included Joe Ellis and John Elway, of showing up hung over to another interview in 2019, which he also says was held just so the team could "satisfy" the Rooney Rule.
BREAKING: Former
@Dolphins
coach Brian Flores has filed a class action lawsuit (alongside other Black coaches) against the
@NFL
for its racial hiring practices.
It includes the claim that Flores interviewed for the
@Giants
job knowing that the team had already hired Brian Daboll
NEWS: The Bally Sports bankruptcy is in motion for next week, sources tell me,
@soshnick
, and
@bpcoffey
.
The process will trigger a cascade of ramifications for some of the country's most valuable
@MLB
,
@NBA
and
@NHL
teams.
More 👇
NEWS: The
@Seminoles
are looking to raise $327 million from a new series of bonds, backed by athletics revenue, as school administrators publicly worry about falling behind financially.
Here's a quick
@Sportico
breakdown 👇 Plus a 🧵 on the details.
BREAKING:
@Apple
is taking over as the next sponsor of the Super Bowl halftime show.
Taking over for
@Pepsi
which declined to renew after a decade as the
@NFL
's partner. 120 million people watched the show this year.
A lot of people in the industry are keeping tabs on this.
Many sports teams/leagues have signed expensive partnerships with crypto lenders and trading platforms. And there's a lot of concerns about whether they'll play out in full.
If they don't, it'll get messy.
EXCLUSIVE: The
@NWSL
has told its players that they could be out money after cryptocurrency platform Voyager Digital, one of the league’s biggest partners, filed for bankruptcy earlier this month.
Now that the Final Four is set, we know roughly how much each conference will make from this
#MarchMadness
.
And for the first time in 20+ years, the
@SEC
is the big
@NCAA
tournament unit winner.
@Sportico
story w/
@LevAkabas
:
BREAKING: The
@NBA
completed its investigation into misconduct allegations against
@Suns
owner Robert Sarver.
NBA found he repeatedly used the N-word, and displayed "inequitable conduct" towards female employees. He's fined $10 million, and banned from team for a year. More 👇
This is one of the largest club deals in
@MLS
history:
- $10M signing bonus
- $1M/year in marketing pre-legislation
- $15M bonus if Texas legalizes by granting teams licenses
- $15M/year for next 10 years (this is $7.5M in marketing and $7.5M guarantee of net gaming revenue)
BREAKING: The
@HoustonDynamo
and
@FuboSportsbook
have inked the largest sports betting deal in
@MLS
history. Could be worth at least $178 million, depending on Texas' path to legal wagering $FUBO
NEWS:
@Packers
financials show a tale of two revenue streams for
@NFL
teams last season.
- National payout for each team jumped to record $309M
- Local revenue (game-day sales) fell 70% to just $62M
Team had operating loss for first time in 20 years
The Premier Lacrosse League's opening game this weekend averaged 543,000 viewers on ABC.
That makes it the most-watched outdoor professional lacrosse game in history.
Let's go
@PremierLacrosse
!! 📈
Here's where the four remaining
@NFL
playoff teams rank in terms of franchise values, per
@Sportico
's numbers.
-
@49ers
🤠 $5.2 billion - 5th of 32
-
@Eagles
🦅 $4.7 billion - 9th of 32
-
@Chiefs
🏹 $3.5 billion - 20th of 32
-
@Bengals
🐅 $2.8 billion - 32nd of 32
BREAKING: In an SEC filing, Sheldon Adelson's family says it is selling ~$1.9 billion in $LVS stock to buy a "majority interest in a professional sports franchise."
It says there is a deal in place, pending league approval. The team is not named. More to come....
.
@barstoolsports
CEO
@EKANardini
says the company has signed 25% of all college athletes to NIL deals.
Small partnerships for sure, but that's well over 100,000 athletes.
The
@Commanders
were the most valuable sports franchises in the world when Dan Snyder bought the team in 1999 for $800 million. Now it is worth $4.78 billion, 8th-most in the
@NFL
.
NEWS:
@TopGolf
and
@BetMGM
are teaming up to bring sports betting marketing, promos and games to driving ranges across the country.
Will start with TopGolf venues in six states where BetMGM operates, and grow as more states come online
You knew the
@PeacocksMBB
upset of Kentucky was historic, but did you know it was *this* historic?
From a financial perspective, it's the biggest upset in the
@NCAA
tournament in 15 years, and likely ever.
Chart and story from
@LevAkabas
:
NEWS:
@MichaelRubin
's Fanatics,
@Novogratz
's Galaxy Digital and
@garyvee
are teaming up to launch a new NFT company.
Candy Digital's first client will be
@MLB
, with more coming in the future.
Jake From State Farm is going to be "one of the first to congratulate" Caitlin Clark when she gets drafted into the
@WNBA
on Monday...
We have reached the late-stage capitalism era of sports marketing
BREAKING:
@Fanatics
has dramatically increased its offer to buy
@PointsBetUSA
's North American business. Was $150M, now $225M.
And the PointsBet board has unanimously recommended it. Shareholders vote on the 30th, but
@DraftKings
was "unable" finalize a bid by today's deadline
Here are
@Sportico
valuations for *all 152* teams in the major U.S. leagues:
- Every
@NFL
team in Top 40
- Every
@NBA
team in Top 86
- First
@NHL
team is
#54
- First
@MLS
team is
#122
- 10th NFL team is
#10
- 10th NBA team is
#47
- 10th MLB team is
#57
- 10th NHL team is
#95
Wow. Michigan State's men's basketball team now has a presenting sponsor!
They're now the "MSU Spartans Presented by Rocket Mortgage," part of a new five-year deal with
@RocketMortgage
BREAKING: Fox, Warner Brothers and Disney are creating a sports streaming product that is set to launch later this year per
@WSJ
The service will be available to ESPN+, Hulu and Max subscribers and each company will own one-third of the product
Here is the average annual value of the major domestic media deals in U.S. sports:
🏈
@NFL
: $11.1 billion/year
🏀
@NBA
: $2.6 billion/year
⚾️
@MLB
: $1.84 billion/year
🏒
@NHL
: $635 million/year (*Doesn't include 🇨🇦 deal*)
⚽️
@MLS
: $250 million/year
📈:
@Sportico
/
@LevAkabas
Great graphic from
@LevAkabas
about how
@PremierLeague
jersey sponsors have changed since the league's founding. Check out:
1) Gambling's takeover
2) Beer and electronics have fully disappeared
3) Carmakers took a decade off, then came back
NEWS:
@CandyDigital
, the NFT company backed by
@Fanatics
,
@novogratz
and
@garyvee
, has raised $100 million at a $1.5 billion valuation.
Peyton Manning, SoftBank Vision Fund 2 are among the investors.
BREAKING:
@InterMiamiCF
owners Jorge and Jose Mas have reached an agreement to buy out partners Marcelo Claure and Masa Son, in a deal that values the team between $600 and $650 million.
More from me and
@kbadenhausen
👇
BREAKING: The David Blitzer-led group has reached an agreement to purchase
@MLS
club
@RealSaltLake
.
Blitzer will be the controlling owner. Group includes Arctos Sports Partners. More details from me and
@soshnick
👇