Sport & Story Daily May 2, 2024

Stay Ahead of the Game

May 1, 2024

Good morning! A Spotlight on Overspending

NBA Offseason: What is the CBA’s Second Apron? And How Does it Limit High-Spending Teams?
Yahoo! Sports’ Jake Fischer asks, “What exactly is the second apron? Beginning with the 2011 CBA, the league only had a single tax apron, a limit to how far teams could spend above the salary cap and luxury tax line without having to pay added penalties that brought other restrictions as well. The second apron is a new, additional threshold, slated as roughly $11 million ($190 million total) above the first apron for 2024-25, which will handicap team decision-makers more than ever before.”
^{Yahoo! Sports}

Everything You Need to Know About the Premier League’s Possible Spending Cap
Per FOS, The majority of Premier League clubs agreed to continue with plans for a hard spending cap at a shareholder's meeting on Monday. After a season full of punishments for financial violations by teams, including Everton and Nottingham Forest, clubs are reconsidering the consequences of overspending.
^{Front Office Sports}

Tiger Woods’ Sun Day Red Debuts—Behind the New Apparel Brand And its Marketing Approach
As Ad Age’s Jon Springer writes, “Sun Day Red, a collaboration between Woods and the golf equipment manufacturer TaylorMade Golf announced in February, reflects his habit of wearing red during the final rounds of golf tournaments. It launched at midnight on May 1 as an athlete-inspired direct-to-consumer brand specializing in what TaylorMade execs describe as “athluxury”—elegant activewear with prices as high as $500 for a sweater.”
^{Ad Age}

Indiana Will Extend its Apparel Deal with Adidas, IU Athletic Director Scott Dolson Says
Per 247 Sports, Indiana will extend its apparel deal with Adidas, Indiana athletic director Scott Dolson tells the Hoosier Hysterics on their podcast that was published on Peegs.com this morning. They’re in the process of finalizing a 10-year deal for Adidas to be the exclusive apparel provider for all of Indiana University's athletic teams. Indiana and Adidas have been partners since 2004.
^{247 Sports}

Ticket Prices up Big for Clark's Preseason Debut
As SBJ’s Tom Friend writes, “Two days ahead of Caitlin Clark’s sold-out preseason debut Friday in Arlington, Texas against the Dallas Wings, courtside tickets were listed for as much as $2,695 on the secondary market -- a supply and demand scenario that WNBA team executives expect to see all season long.

“The Wings have never sold tickets to a preseason game, but Greg Bibb—the team’s president, CEO, and partner—contacted the Fever after Indiana won the draft lottery in December, proposing a Fever-Wings exhibition game in Texas.”
^{Sports Business Journal}

Diamond, DirecTV Renew Distribution Agreement
Diamond Sports Group and DirecTV have reached a multiyear renewal of their distribution agreement for the continued carriage of Diamond’s portfolio of RSNs. Under the agreement, DirecTV and DirectTV Stream customers who select a Choice, Ultimate, or Premier package will maintain access to live, local MLB, NBA, and NHL games and team-related content featured on Diamond’s several RSN channels.
^{Sports Business Journal}

Manica Designs Potential Chiefs Stadium in Kansas
As SBJ’s Bret McCormick writes, “With lawmakers in the state of Kansas considering a bond measure that could fund venues of more than 30,000 seats with at least a billion dollars -- widely understood to be geared toward the Royals or Chiefs -- architect David Manica disseminated renderings for a possible Chiefs stadium in Kansas late yesterday. The venue, like Manica’s other NFL venue designs for the Raiders, Titans and, recently Bears, would be covered, enabling indoor events of all kinds…”
^{Sports Business Journal}

No Vote on Kansas Bill to Draw Chiefs, Royals Across Border
Per the AP via ESPN, Some Kansas lawmakers see a chance to lure Kansas City's two biggest professional sports teams across the Missouri border, but an effort to help the Super Bowl champion Chiefs and the Royals finance new stadiums in the state fizzled over concerns about how it might look to taxpayers.
^ESPN

Incoming James Madison AD Matt Roan Spoke on the Potential Expansion of Bridgeforth Stadium
“Officially, I will say that I’ve not had any formal conversations. Unofficially, I will tell you there were a lot of people at the spring game last week that let me know the east side of the stadium needs attention. I’m excited to get to work right away with [AVP for Business Services] Towana Moore in finance administration and her team and find out what our master plan is right now, put our own spin on it and find out what opportunities might exist.”
^Twitter

Not a Done Deal: Arlington Heights Keeps Its Bears Stadium Hopes Alive
As FOS’ Eric Fisher writes, “Bears president Kevin Warren could hardly have been more clear about the team’s intent to build a stadium on Chicago’s lakefront, especially following last week’s formal unveiling of a $4.7 billion plan for a domed stadium next to Soldier Field. But to officials in Arlington Heights, Ill., where the Bears still own 326 acres, the team is saying there’s still a chance for them.”
^{Front Office Sports}

Wrexham Owners Ryan Reynolds and Rob McElhenney Want to Expand Stadium Capacity to 55,000
The AP’s James Robson writes, “Ryan Reynolds and Rob McElhenney have given an insight into their long-term ambitions for Welsh soccer team Wrexham, which they hope could eventually see the capacity of its Racecourse Ground stadium increase massively to 55,000.

Currently the Racecourse only holds 12,600 fans, with plans to build a new 5,500-capacity stand in place. But Reynolds and McElhenney’s vision is to build one of the biggest stadiums in English soccer.”
^{Associated Press}

Microsoft's Brad Smith, Wife Buy Stake in Mariners
Microsoft Vice Chair & President Brad Smith and his wife, Kathy Surace-Smith, have "purchased a stake in the Mariners ownership group," the first new partners to join the franchise since Baseball HOFer Ken Griffey Jr. in 2021. They are just the third new partners since the ownership formed in 1992.
^{Sports Business Journal}

Exclusive: Under Armour Taps New Balance, Nike Vet Yuron White as Head of Footwear
Per Footwear News, Under Armour is beefing up its footwear leadership team as it looks to make shoes a more significant part of its business. The Baltimore, Md.-based company said it named Yuron White as its head of footwear in the newly created role of senior vice president, sportswear, run, basketball, Curry and collaborations. He started his new role on Monday, reporting to Yassine Saidi, Under Armour’s chief product officer.
^{Footwear News}

Who’s Winning College Football’s Transfer Portal Spring Window, Plus Is G5 Playoff a Good Idea?
As The Athletic noted, the spring transfer window closed on Tuesday night. Players who wish to transfer must have entered the portal by the end of the day, although they don’t have to commit to their new teams by the deadline. The Athletic shares a look at the programs with the top transfer classes as they stand now, per the 247Sports Composite:
^{The Athletic}

Fiesta Bowl Set to Announce Rebrand
“While the organization is beloved in many corners and has lots of goodwill out there as an Arizona institution, it was starting to dawn on me that our organization was well known, but not known well,” Erik Moses said. “I wanted to make certain that wasn’t just my gut feeling and what I was feeling, but to back that up with some data and insight.”
^{Sports Business Journal}

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