SBJ Morning Buzzcast
SBJ Morning Buzzcast: August 12, 2024
(upbeat music) Who else had summer grit? They didn't go to the Paris summer games. I know I did. And this is your morning BuzzChas. For Monday, August 12th, I made Mad Court. Thanks for listening to the BuzzChas. We had a star-studded finale on Sunday night as Tom Cruise took the Olympic flag from Paris in the ceremonial passing of the torch to Los Angeles at the end of the games. The US topped the total medal count with 126 medals tied China for the most gold medals with 40. So a very strong performance by Team USA. Meanwhile, the future leadership of the Olympic movement became a bit more clear as IOC President Thomas Bach said Saturday he would not continue as president when his term ends and he would call for an election next year. There was a lot of speculation that Bach would seek a third term which would have required an amendment to the Olympic charter on term limits. He had led the IOC since 2013. He had another four-year term in 2021. But now it looks like there will be an election in March of next year with the new president to start their term in June of next year. Bach's announcement was a surprise and the 70-year-old will leave an organization coming off a very successful Paris Olympics that have restored worldwide interest in the games. He's also seen the IOC secure hosts for Olympics through 2034 and there are a number of interested cities interested in hosting in 2036 and 2040. So he said he was not the leader for the next generation of Olympic leadership. He said the next leader will need to navigate political pressures and digital change and he said new times are calling for new leaders. Some names to watch as possible successors, Sebastian Ko. He's publicly expressed interest in the role also Kirsty Coventree. She's from Zimbabwe, Jordanian Prince Hussein, a member of the IOC's executive board and even Juan Antonio Sammarance Jr. A longtime IOC member whose father led the organization for 21 years could be in the mix. So those are some names. Look for an election in March. And I'll just say this as we wrap up the Paris Games for years, we've been writing and talking about how the Olympics needed to be a great success in Paris to restore the glory and the value of the movement. It was said so frequently it almost became wrote and lacked the full appreciation of the pressure on the athletes, the executives and the governments to deliver. But in an era where there are critics with every social post, I hope we can all recognize and appreciate the success we just witnessed over these last two weeks. Everyone who works so hard to make these games such a success deserves a great deal of credit. First and foremost, the athletes and their families, but also the US Olympic and Paralympic Committee, the national governing bodies, their leadership, to NBC sports, to sponsors and especially Paris organizers. So much was writing on these games. Everyone said the future of the Olympics was at risk, but these groups all delivered under great pressure. And it was because of years and years of hard work. So congratulations and well done. And we will have more final numbers and thoughts on the Paris Games in the days ahead on the buzz cast. Let's move on, the valuations of teams continues to skyrocket and sometimes amaze. SBJ's Tom Friend reported that two business executives each purchased a half percent of the WNBA's Dallas wings for over a million dollars apiece. And that would raise the franchise's total value to a WNBA record of nearly $210 million. Yes, that would be an all-time high for a WNBA team. Now, the Las Vegas Aces had been valued at a league high 140 million, but a variety of factors have led to the wings increasing in value. First, the wings impending move to downtown Dallas, a proposed practice facility, gains in attendance and sponsorship, and a new local TV contract and the league's upcoming new national media deal. All that has driven the value of the wings who were just valued at $75 million earlier this spring. But now the team increases in value from $75 million to a league high, $210 million. And we're sure that this will impact the valuations of other WNBA franchises. You know, I love what MLB is doing in terms of taking its product to different markets and new environments. And I've also always been impressed by how Speedway Motorsports has multiple uses for its Bristol Motor Speedway. Remember, in 2016, college football, in front of an audience of nearly 160,000, that was the largest crowd to ever watch an NCAA football game. Well, now baseball and Bristol Motor Speedway are teaming up. There'll be a regular season baseball game at Bristol August of next year between the Reds and the Braves. A baseball diamond will be built across Bristol's racetrack for what is being called the MLB Speedway Classic. Look at the renderings. It looks great. The Saturday Night game will count as a home game for the Reds and both teams will have a day off Sunday to allow the game to be rescheduled in case of poor weather. But this game will be part of a much bigger weekend, one that will bring in Bristol's heritage as the birthplace of country music. You will also see connections between baseball and NASCAR. The game at Bristol will be the first regular season MLB game in the state of Tennessee. So baseball again, trying new markets, new environments to take its product to new fans. You know, everyone in the sports business I speak with are eager to see the opening of the Intuit Dome in Inglewood, California. Steve Ballmer's new palace opens for a Bruno Mars concert on August 15th and then there are a bunch of other events before the venue opens for basketball. But in a must read, LA Times architecture critic Sam Lubel largely raves about the new building. In his review of it, he says that Intuit Dome makes most other arenas seem like relics of the past. He said it's pushing sports architecture in a new direction. He did wonder whether it's a good thing for the Inglewood neighborhood is an open question. But he notes the building's elite level of sustainability. He calls the Intuit Dome elegantly detailed and impeccably practical, comfortable and flexible. He noted the Intuit Dome offers an unbelievable amount of technology and he writes quote, "It will really be hard to get bored, "but could it overwhelm fans?" he wonders. He has less positive things to say about the outside of areas around Intuit Dome and the plaza leading into the arena. But, but, but it's an overwhelmingly positive review about the Intuit Dome. He calls it quote, "Dazzling, expertly executed "with the potential to become a major community asset. "If you're interested about the Intuit Dome "and Steve Ballmer's vision for basketball, "this read is well worth your time." And so that is your morning buzzcast for Monday, August 12th. I made Matt Core. Thanks for listening to the buzzcast. Stay healthy, be good to each other. I'll speak to you on Tuesday. (upbeat music) (upbeat music) (upbeat music)