This week, we see continued proof points for the rise of women's sports, the consumer demand for live events, and the value of live sports content plus significant investment and M&A activity.
- The Indiana Fever and Chicago Sky set a WNBA milestone with the largest game audience in 23 years, drawing 2.3 million viewers and peaking at 3.3 million during their recent matchup.
- Angel Reese and Caitlin Clark delivered standout performances, contributing to the thrilling 88-87 victory for the Sky and showcasing the league's rising talent and popularity.
- The intense rivalry between the Fever and the Sky, coupled with the game's electric atmosphere and national TV broadcast, signifies a new era of heightened interest and excitement in the WNBA.
- SOOP, a new streaming platform launched by AfreecaTV, has secured a three-year international rights deal with the Korea Baseball Organization (KBO) League, South Korea’s premier baseball league.
- The deal allows SOOP to stream KBO League games live for free globally, excluding South Korea, through its website and mobile app until 2026.
- Previously, the KBO had limited international exposure, with SPOTV broadcasting matches in select Southeast Asian markets and a brief entry into the US market via ESPN in 2020 during MLB's hiatus due to the Covid-19 pandemic.
- Charlotte is considering plans for a new stadium to potentially replace Bank of America Stadium, with a target date set for 2046, according to discussions at a recent City Council meeting.
- Negotiations with Tepper Sports & Entertainment are slated to begin by April 1, 2037, with a focus on securing funding and assessing feasibility.
- The city is exploring the use of hospitality funds for initial studies and analysis, though specifics on costs and city investment remain undetermined, including whether the new stadium would retain the Bank of America name.
Fox Snags Rights To Women's Euros Next Summer (Rise of Women's Sports / Value of Live Content)
- Fox announced during the USMNT and Bolivia Copa America game that it will broadcast the UEFA Women’s Euros next summer, with announcers Carli Lloyd, Ari Hingst, and Rob Stone revealing the news.
- The Women’s Euros will be held in Switzerland from July 2-27, 2025, with Fox taking over the broadcasting rights from ESPN, which had them for the 2022 tournament.
- This announcement is part of Fox’s extensive soccer coverage, currently featuring 30 consecutive days of soccer, including the Men’s Euros and Copa America.
- LA28 officials revealed an updated venue plan for the 2028 Los Angeles Olympics, emphasizing the use of existing stadiums and arenas to save over $150m and maintain a balanced budget, offering a spectacular stage for athletes without constructing new facilities.
- Los Angeles will not host Canoe Slalom and Softball events; instead, these competitions will take place in Oklahoma City, using existing venues built to international standards to ensure a high-quality experience and promote sustainability.
- The LA28 Olympics aims to deliver an unparalleled experience for athletes and fans by leveraging existing venues and partnering with experienced operators.
- The 2024 European Athletics Championships in Rome achieved record-breaking broadcast figures, despite competition from other major sports events like the French Open and UEFA Euro 2024 friendlies.
- Notable viewership highlights include 4.7m viewers in Italy for Gianmarco Tamberi's high jump win, 6.6m viewers in Germany on the final night, and a 71% audience share in Sweden for Mondo Duplantis’ pole vault record.
- The EBU, as the host broadcaster, provided extensive coverage through 35 broadcasters, including 33 EBU members, delivering over 1,200 hours of live content across television and streaming platforms, including Eurovision Sport's new streaming platform.
- The Las Vegas Aces have made history by becoming the first WNBA team to sell out all their regular season home games, including their final game against the Chicago Sky on September 3rd.
- The team has seen soaring ticket demand due to their on-court success and potential to win three consecutive championships, leading to the highest league attendance in 2023 and record-setting home game attendances.
- Ranked as the most valuable WNBA team at $140m and the most in-demand team on StubHub, the Aces are averaging 10,379 fans per game this season, with franchise executives predicting continued growth in viewership and popularity.
- The New York Yankees and Los Angeles Dodgers have significantly boosted Fox’s ratings for nationally televised MLB games, with a season-high 2.91m viewers for their June 8 game, marking the highest regular-season MLB broadcast viewership since September 2022.
- Fox's MLB broadcasts are averaging 1.93m viewers per game, a 7% increase from last year, while ESPN's broadcasts are averaging 1.58m viewers per game, a 5% increase. The Yankees and Dodgers have appeared in five of this season’s top-rated telecasts.
- The high viewership for Yankees-Dodgers games and the overall increase in ratings have attracted major advertisers, with insurance, automotive, and fast-food brands leading the pack.
- Major League Soccer (MLS) has set multiple attendance records midway through the 2024 season, with 6.5m fans attending matches as of June 22, marking a 13% increase from the same period in 2023.
- Notable attendance figures include five games with over 60,000 fans, six matches with more than 50,000 fans, and 15 fixtures drawing at least 40,000 fans, the highest in league history at this stage.
- The highest single-game attendance in 2024 was 72,610 for Inter Miami’s win over Sporting Kansas City on April 13 at Arrowhead Stadium, the fourth-largest crowd in MLS history, with 25 of 29 clubs seeing stable or increased average attendance.
- Global will raise the prices of its Paramount+ streaming service on August 20 for new subscribers, with the Paramount+ with Showtime plan increasing by $1 to $12.99/month and the Paramount+ Essential plan by $2 to $7.99/month.
- Price hike follows a trend among media companies like Comcast’s NBCUniversal and Warner Bros. Discovery to increase streaming prices. Paramount Global aims to offset streaming-related losses and restructure its business after a failed merger with Skydance.
- Paramount is focusing on reducing debt and operational costs, exploring streaming joint ventures, and potentially divesting non-core assets.
- DAZN has entered into an agreement to distribute Tennis TV, ATP Media’s service, across Latin America, Brazil, and the Caribbean.
- The coverage on DAZN will include live matches, highlights, and replays, available through a standalone subscription.
- This move expands DAZN's strategy of distributing third-party sports channels and leveraging its technology to enhance direct-to-consumer streaming services globally.
- Mubadala Capital has invested in SailGP by acquiring a new team to represent Brazil, marking the first South American team in the league and expanding its partnership with SailGP.
- This investment aligns with Mubadala's strategy to increase its presence in Brazil, with plans to inject $1bn annually, and further solidifies Mubadala's commitment as a global series partner through 2026.
- The Brazilian team, set to debut in SailGP's fifth season starting in November, will collaborate with Brazilian sports and entertainment firm IMM and aim to enhance SailGP's market and fan base in Brazil.
- The Friedkin family has entered exclusive talks to acquire Everton from Farhad Moshiri, with due diligence underway and no guarantee of an agreement; the takeover would need Premier League approval.
- The Texas-based Friedkin Group, which owns AS Roma, views Everton's history, fanbase, and new stadium at Bramley-Moore Dock as appealing factors; they aim for a smooth sale process within weeks.
- The Friedkin Group remains committed to AS Roma and has no concerns about the co-existence of both clubs under UEFA rules.
- Red Bull is reportedly exploring the possibility of bidding for an NBA expansion franchise, with Las Vegas as the favored location. The cost of such a franchise is estimated to exceed $4bn.
- Red Bull already owns multiple sports teams, including six soccer clubs and two Formula One teams. Recently, they invested in Leeds United and became its principal shirt sponsor.
- Red Bull will face competition from LeBron James and RedBird Capital, who are also interested in establishing an NBA team in Las Vegas.
- The Charlotte Knights, Triple-A affiliate of the Chicago White Sox, agreed to sell the team to Diamond Baseball Holdings (DBH), pending league consent and closing conditions. This acquisition makes the Knights the 35th minor-league franchise under DBH's control.
- Don Beaver and minority partner Bill Allen, who purchased the Knights in 1997, were exploring a sale since January. The transaction includes DBH taking control of Truist Field and the Paper Mill Pub, with the Knights' front office staff remaining in place.
- DBH, initiated by Endeavor in 2021, has rapidly expanded, now owning approximately 29% of minor league baseball clubs. DBH's growth continued after private equity firm Silver Lake purchased the teams from Endeavor due to a conflict of interest with MLB Players Association.
- Australia's National Basketball League (NBL) and Wollemi Capital Group Syndicate (WCGS) have formed a consortium to acquire a 78% majority stake in the Women's National Basketball League (WNBL), with the NBL set to operate the league from April 2, 2025, while Basketball Australia retains a minority interest.
- The acquisition will be finalized within 60 days, subject to meeting conditions outlined in the signed term sheet, following a thorough selection process that saw NBL and WCGS named the successful consortium.
- The consortium aims to ensure long-term sustainability and growth for the WNBL, with NBL chief executive David Stevenson emphasizing a collaborative approach with clubs, players, and fans.
- Shaun White's Unrivaled Sports, with investment from Ares Management, has acquired a minority stake in Snöbahn, an indoor action sports facility chain. This marks Unrivaled Sports' first major investment and aims to expand Snöbahn to new markets like Texas and California.
- Unrivaled Sports, co-founded by Shaun White, Josh Harris, David Blitzer, and The Chernin Group, aims to create a comprehensive action sports hospitality vertical. This includes unique experiences in sports such as surfing, mountain biking, and now indoor skiing and snowboarding.
- Snöbahn, founded in 2016, offers year-round skiing and snowboarding classes in Colorado. With new capital, it plans to refine its existing facilities and expand to other cities, making skiing and snowboarding more accessible to urban populations.
- TMRW Sports has secured investment from Dynasty Equity Partners, valuing the company at about $500m, to support its expansion into new formats, leagues, territories, and media properties.
- The capital will help launch TMRW's first project, TGL, in January 2025, with additional discussions ongoing with other governing bodies for future projects.
- A potential push into women's golf is among the options being considered for TMRW Sports' expansion.
- Serent Capital, the private equity owner of engagement marketing firm Kore, is exploring a sale of the company and has hired investment bank William Blair to assist in the process.
- Kore provides a variety of services including sponsorship activation, fan engagement, ticket sales, partnership analysis, and data analytics.
- Since Serent's significant investment in 2018, Kore has aggressively expanded through acquisitions, including Hookit, the pro sports business of SSB, and Sports Alliance.
- New York Mets owner Steve Cohen has acquired a 5.5% stake in Sphere Entertainment through his Point72 Asset Management hedge fund, purchasing 1.56m shares in the second quarter of 2024.
- The Dolan family, with voting control over Sphere, owns 6.9m shares. Sphere Entertainment's major shareholders include Ariel Investments, Vanguard Group, and Jericho Capital Asset Management. The $2.3bn Sphere venue, opened in September, hosts concerts and sporting events, generating substantial revenue from the Sphere Experience shows.
- Point72 oversees over $30bn in assets, with Cohen earning $1.6bn in 2023 from investment fees and gains. Despite selling a previous stake in Sphere earlier in 2024, Cohen's renewed investment indicates confidence in the venue's financial prospects.
- Engage Digital Partners, a UK-based digital agency with clients like the International Cricket Council and Real Madrid, has appointed KPMG to initiate a sale process, potentially valuing the company at up to £20m.
- The agency, majority-owned by founder and CEO Gregg Oldfield, specializes in digital activation, audience growth, sponsorship sales, and activation, and has attracted interest from several potential buyers.
- Engage, founded 12 years ago, employs over 160 staff across London, Bangalore, and Melbourne, and plans to open an office in Dubai, with clients including Fifa, World Rugby, Chelsea, and the NBA.
- Helsinki-based Amer Sports, owner of brands like Wilson Sporting Goods, Louisville Slugger, and Salomon, has filed for a U.S. IPO aiming to raise up to $1.8bn, valuing the company at $8.7bn.
- Despite generating $3.1bn in revenue for January-September 2023, a 30% increase from 2022, Amer Sports reported an increased net loss of $113.9m, continuing its trend of losses from previous years.
- Amer Sports is focusing on technological advancements, including AI-designed baseball bats and a 3D-printed airless basketball prototype, while navigating a challenging market for sporting goods and apparel.
