Sport & Story Daily March 15, 2024

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March 15, 2024

Good morning! Let the Mad Betting Begin

Under Armour Turns to Its Founder As Industry Turbulence Continues
As a reckoning continues across much of the athletic footwear and apparel market, one of the key players has turned again to its founder in search of a new spark. 

As FOS’ Eric Fisher reports, “Under Armour has brought back founder Kevin Plank as president and CEO. Plank—who had been executive chair of Under Armour’s board—replaced Stephanie Linnartz, a former Marriott executive who had arrived with a three-year recovery plan for the brand but was on the job for only a year.” 
^{frontofficesports.com}

Under Armour’s AI-Driven AD Unnerves Production Community Already on Edge
Interestingly enough, Ad Age also reported on Under Armour, noting, “A new Under Armour commercial from production company Tool, created with the help of artificial intelligence, has caused a stir in the production community, with some seeing it as a worrying new sign that directors could soon become superfluous in the creation of certain types of advertising.
^adage.com

Americans Are Expected to Bet $1B More on March Madness Than the Super Bowl in 2024
Per USA Today, “American adults are expected to bet $2.72 billion on the 2024 NCAA men’s and women’s tournaments, according to an estimate released Thursday by the American Gaming Association.

The number is 2.2 percent of the total handle wagered by Americans in all of 2023, which was placed at $119.84 billion by the AGA’s commercial gaming revenue tracker. It’s also a 55 percent increase over the amount of bets placed on last month’s Super Bowl between the Kansas City Chiefs and San Francisco 49ers, according to AGA figures cited by Bookies. It was estimated that $1.5 billion people placed legal bets on the Super Bowl.”
^{ftw.usatoday.com}

Burkle Sellling NWSL’s Wave to Levine Leichtman Family in $113M Deal
Billionaire Ron Burkle is reportedly selling the San Diego Wave to the Levine Leichtman family in a two-part deal. Lauren Leichtman and her husband Arthur Levine, founding partners of Levine Leichtman Capital Partners, are paying $35 million now for 35% of the team and have agreed to buy the other 65% for $78 million after the 2024 season, said the sources, who were granted anonymity because the details are private. The deal carries a weighted average of $113 million, though the valuation in the later transaction is $120 million.
^sportico.com

NCAA WBB Tournament Advertising Sees Increased Demand After Last Year's Success
A Disney spokesperson said they are “very well-sold” for the women's tournament. Inventory for the upcoming Women’s NCAA Tournament has been “selling at a brisk pace” as brands “capitalize on unprecedented interest in the game…”
^{sportsbusinessjournal.com}

Chiefs’ President Threatens Team Could Leave Kansas City If Voters Don’t Give It Money
FOS’ Alex Schiffer poses the question, “Could a dynasty be on the move? 

Chiefs president Mark Donovan didn’t rule it out during an interview on local television in which he advocated for voters to raise a regional sales tax and give his business the proceeds.”
^{frontofficesports.com}

Alberts Officially Moving to Texas A&M as Nebraska is Left to Pick Up the Pieces
Texas A&M officially hired Nebraska’s Trev Alberts as the school's new AD, with Alberts expected to get a five-year deal that will “put him near the top of the SEC and among the top 10 athletic directors nationally in terms of salary,” according to Adam Rittenberg of ESPN.com
^{sportsbusinessjournal.com}

Michigan State Staffer’s Scheduling Biz Pushes Seven Figures in Revenue
“I am very mindful of needing to be able to balance the two in the current iteration of what my Michigan State responsibilities are as well as the success that has grown the last few years,” Pauga said. “It is something I am mindful of and intentional about making sure my integrity is at the forefront.”
^sportico.com

NCAA Updates Memo for Two-Time Transfers Ahead of Basketball, Spring Football Window
As On3’s Pete Nakos reports, “The NCAA updated its previously circulated document from December, providing clarity ahead of the college basketball transfer portal opening next week.

Similar to the language dispersed by the governing body two months ago, multi-time transfers who enter the portal this spring will be eligible to play at a new school in the 2024-25 year without securing a waiver. The NCAA has also updated its transfer portal website with information.”
^on3.com

Notre Dame to Tell CFP Whether In or Out
As ESPN’s Senior Writer Heather Dinich tweeted, “Multiple sources have told me midday tomorrow is the ‘drop-dead’ deadline for FBS conferences and Notre Dame to tell CFP if they are in or out for 2026 and beyond. Sources have told me ACC, Big Ten, Big 12 and Notre Dame have been given permission to sign on.”
^twitter.com

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