Sport & Story Daily May 31, 2024

Stay Ahead of the Game

May 31, 2024

Good morning! Sponsors/Logos = NCAA $ Stream

In Wake of Settlement, NCAA Considering Jersey, On-Field Corporate Logos
As FOS’ Margaret Fleming writes, “Less than a week after agreeing to a $2.7 billion settlement to allow revenue sharing with athletes, the NCAA and power conferences are naturally looking for new revenue streams. The current rules state that corporate logos on the field are allowed at only bowl games, sponsored neutral-sites, and instances when a sponsor has purchased naming rights to the field, stadium, or facility…

“That could change soon, with the governing body reportedly considering logos on the 25- and 50-yard lines as well as jersey patches, an increasingly common source of revenue in major North American leagues. For reference, SEC schools could rake in at least $1 million from 25-yard-line sponsorships and $5 million in jersey patches in a given season, according to Yahoo! Sports.”
^{Front Office Sports}

'Hard Knocks' Selects Bears for 2024 Training Camp Docu-Series, Will Feature No. 1 Pick Caleb Williams
The Chicago Bears are the "Hard Knocks" team for the 2024 NFL training camp, which means viewers will get an inside look at Caleb Williams' rookie season. NFL Films announced the selection Thursday. The first episode will air on Aug. 6. This will be the first time Chicago is featured on the 23-year-old show.
^{Yahoo! Sports}

Alex Morgan, Carmelo, Nash Invest in 3-V-3 Women’s Hoops League
Sportico’s Eric Jackson reports: “Unrivaled, a new pro women’s basketball league which begins play in January, has closed on an oversubscribed seed round with help from a group of athlete and celebrity investors.

“The upstart 3-on-3 league, co-founded by WNBA stars Breanna Stewart and Napheesa Collier, is being launched next year with initial funding from a group led by U.S. Soccer co-captain Alex Morgan. The two-time FIFA World Cup winner, through her venture firm Trybe Ventures, helped put together a crew of star-studded investors.”
^Sportico

Leeds United Adds Red Bull As Equity Investor, Kit Sponsor
Leeds United, the English soccer club taken over last year by 49ers Enterprises, has accepted a minority equity investment from Austrian energy drink manufacturer Red Bull. The brand will also become the club’s front-of-kit sponsor for the Leeds United men’s and women’s first teams beginning in the 2024-25 season.

Red Bull's investment in Leeds, whose top men’s side is currently playing in England’s second division, is its first non-controlling interest in a soccer club and its foray into English soccer.
^{Sports Business Journal}

More States Hiking Sports Betting Taxes, Eyeing Revenue Windfall
FOS’ Eric Fisher writes, “New York definitely raised eyebrows when it implemented nearly three years ago a 51% tax on sports betting revenue, a rate far above most other states that have pursued legalization. But after nearly $2 billion in collected tax revenue from sports wagering in the Empire State just since online sports formally began there in January 2022, other states are moving quickly to increase their tax rates and garner money they believe has been left on the table.”
^{Front Office Sports}

WNBA Sets More TV Records, Led by Ion
The WNBA set a number of viewership records over Memorial Day weekend, led by ION, which drew 724,000 viewers for Indiana Fever-L.A. Sparks in the late primetime window on Friday (10pm ET tip for a matchup featuring No. 1 pick Caitlin Clark vs. No. 2 pick Cameron Brink). That figure is the best WNBA game yet for ION, which is in the second year of its WNBA rights deal.
^{Sports Business Journal}

Netflix, SEC Closing in On Deal for ‘Drive to Survive’-Style Football Series: Sources
Netflix is closing in on a deal with the SEC to give it the immersive documentary treatment that the streaming service has further popularized with its Formula 1 “Drive to Survive,” and the PGA Tour’s “Full Swing,” executives briefed on the discussions told The Athletic on Thursday.
^{The Athletic}

Audience Analysis: Stanley Cup Playoffs Keep Humming; F1 Monaco Up Despite Lack of Drama
As SBJ’s Austin Karp reports: “The Stanley Cup Playoffs are seeing an 11% viewership boost in the U.S. to date —a figure that will likely continue to rise with both conference finals series set to go at least six games. All NHL playoff games are averaging 1.2 million viewers to date, up 11% from the same point last season. The presence of a big-market team like the Rangers has really helped the conference finals to date, with the two series averaging 1.9 million viewers across ESPN and TNT Sports networks.”
^{Sports Business Journal}

Miller Sports + Entertainment Unveils Renderings For Salt Lake City Ballpark
Miller Sports + Entertainment has released renderings of Daybreak Field at America First Square, the new ballpark the company is building south of Salt Lake City for the Class AAA Salt Lake Bees. Miller Sports + Entertainment (MSE), which recently rebranded from Larry H. Miller Sports + Entertainment, is privately funding the $140M, 8,000-capacity stadium that, when it opens in spring 2025, will sit in the 4,100-acre Daybreak planned community.
^{Sports Business Journal}

2024 NBA Draft Withdrawal Deadline: Bronny James Among Notable Players Staying in Draft, While Big Names Return to School
Yahoo Sports’ Krysten Peek writes, “The NBA Draft withdrawal deadline ended at 11:59 p.m. ET Wednesday night with several college players making their decisions after going through the pre-draft process and getting valuable feedback from teams.

“Bronny James, a projected second-round pick, is staying in the 2024 NBA Draft after an underwhelming freshman season at USC but a strong showing at the NBA Draft Combine. But even with this draft class being considered weaker than years past, there were a handful of players that elected to return for one more year of college.”
^{Yahoo! Sports}

NCAA Agrees to End Transfer Rules Permanently; Athletes Who Lost Eligibility Will Have Year Restored
Per The Athletic, The U.S. Department of Justice reached a settlement with the NCAA that will permanently bar the organization from restricting athletes’ transfer eligibility. The settlement resolves a federal antitrust lawsuit filed by a coalition of states last December challenging the NCAA’s requirement that athletes who transfer more than once must sit out a year of competition.
^{The Athletic}

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