Sport & Story Daily March 1, 2024

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March 1, 2024

Good morning! The salary cap’s record jump of $30.4 million to $255.4 million is the talk of the NFL Combine

NFL Combine Is Buzzing With Talk of Nearly $1B in Extra Salary Cap Space
Per Front Office Sports’ David Rumsey: “‘I was smiling.’

That’s what Bills general manager Brandon Beane (above) said his reaction was when he saw the NFL’s salary cap number for the 2024 season. The cap’s record jump of $30.4 million up to $255.4 million has dominated the talk so far this week in Indianapolis, where team executives are gathering for the annual NFL Scouting Combine. Teams had been anticipating a cap number of at least $5 million to $10 million lower, but the larger-than-expected increase came from more media revenue and deferred payments from the COVID-19 pandemic. ‘It saves you,’ Beane added during an interview on PFT Live. ‘Maybe it’s one less guy you’ve got to release or restructure.’”
^{frontofficesports.com}

Super Bowl Champion Chiefs Get F For Ownership in NFLPA Grades
As Sportico’s Lev Akabas reports, “The NFL Players Association (NFLPA) has released its 2024 NFL Player Team Report Cards. Some notable teams finished with failing grades in several areas, but the most significant news is the inclusion of a new “Owner” category on the report card.

Owners were graded by players on their ‘willingness to invest in the facilities’ on a scale of one to 10. Kansas City Chiefs Super Bowl-winning owner Clark Hunt received a rating of 4.9, which was the lowest in the league; next-lowest was Pittsburgh Steelers owner Art Rooney II (5.8). 

On the high end of the spectrum, Miami Dolphins owner Stephen Ross was the top-graded owner in the league, while the Minnesota Vikings’ Zygi Wilf placed second.”
^sportico.com

NWSL Owners’ New Private Equity Rules Exclude Sovereign Wealth
As Eben Novy-Williams writes, “NWSL owners have codified new rules to govern private equity funds invested in multiple teams, a policy that also excludes sovereign wealth funds from investing in the league.

Moving forward, no fund will be allowed to own passive minority stakes in more than three NWSL teams, the league told Sportico on Thursday. A single fund can hold anything between 5% and 20% of a club’s equity. No team can have more than 30% of its total equity held by such funds.”
^sportico.com

Paris Games Gain Momentum With $2B Completion of Olympic Village
As Front Office Sports’ Eric Fisher reports, “Paris Olympic organizers on Thursday received formal control of the $2.2 billion housing project, located just north of the city and primarily funded by private developers, which will house about 14,500 athletes plus their staff and 9,000 for the subsequent Paralympics. Notably eschewing the Games’ long record of white elephant projects and overspending, the Olympic Village will be converted after the events into an eco-friendly neighborhood for 6,000 residents and feature a pair of schools, a hotel, park, and other retail and office spaces. Planned apartments will include private residences and public housing.” 
^{frontofficesport.com}

Report: Earnhardt Jr. Leaving NBC for Amazon, WBD's Upcoming NASCAR Broadcast Booth
Dale Earnhardt Jr. is leaving NBC and heading to “racing newcomers Amazon Prime Video and Warner Bros. Discovery Sports,” according to sources cited by Andrew Marchand of THE ATHLETIC. Earnhardt is expected to “take this season off and then resume his broadcasting career in 2025…”
^{sportsbusinessjournal.com}

Atlantic Sun Partners With Collegiate Sports Management Group on Media Strategy
The Atlantic Sun Conference is partnering with Collegiate Sports Management Group for its media rights strategy, working exclusively with Commissioner Jeff Bacon. The league's current deal with ESPN expires in 2025. 
^{sportsbusinessjournal.com}

Louisville Unveils New Locker Room at Jim Patterson Stadium
As Matt Sefcovic writes, “It has been a long time coming, but the Louisville Baseball program has a new locker room to call home. The Henry Davis Locker Room, named after the No. 1 pick in the 2021 MLB Draft, is the first major step in improving the facilities at Jim Patterson Stadium.”
^{cardchronicle.com}

Electronic Arts’ Layoffs Signal Ongoing Evolution, Struggles
Electronic Arts is laying off 5% of its workforce, amounting to about 670 people, further showcasing just how difficult the once-thriving video game business has become. 

The staff reduction is just one part of several moves by EA to trim costs, with the company also paring back on some real estate holdings and “moving away from development of future licensed IP that we do not believe will be successful in our changing industry,” CEO Andrew Wilson said in a memo to staff. 
^{frontofficesports.com}

Caitlin Clark Officially Declares for 2024 WNBA Draft: Iowa star Expected to Go No. 1 to Fever
Iowa star Caitlin Clark announced Thursday this will be her final collegiate season as she will declare for the 2024 WNBA Draft. Clark, who recently passed Lynette Woodard to become the all-time leading scorer in Division I women's basketball history, is the projected No. 1 overall pick. 
^{cbssports.com}

New Pac-12 Commissioner Discusses What's Next for Two-Team League: 'Rebuilding Mode'
“Starting July 1, as we continue as a two-member conference, we are the Pac-12 Conference, and we’re gonna continue to be the Pac-12 conference,” said Gould, who becomes the first female commissioner of a Power 5 conference. “That brand means something nationally. It means something in our footprint on the West Coast. It means something to our fan base. So we will continue to own the name, the logo and intellectual property.”
^usatoday.com

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