SBJ Morning Buzzcast
SBJ Morning Buzzcast: July 3, 2024
I hope everybody has a great July 4th. We will not have a morning buzzcast on Thursday. We will be back on Friday, July 5th. And this is your morning buzzcast for Wednesday, July 3rd. I made mad core. Thanks for listening to the buzzcast. Well, the NWSL continues to see growing team valuations and has proven its ability to draw star investors. And now, it's on the cusp of linking with one of the top leaders in global sports and entertainment as Disney's Bob Iger and his wife, Willow Bay, are close to completing a deal that would see them invest in Angel City FC, putting the total value of the club at more than $250 million nearly doubling its previous value, which at that time, was the most valuable for a women's sports franchise. Puck's Dylan Byers was the first to report this deal, and it would be a very, very significant deal not just for the NWSL, but also across sports as it continues to set the valuations of these teams at record prices. Now this deal would see Iger and Willow Bay replacing Alexis O'Hanean as the team's controlling shareholder. Remember, last fall, O'Hanean was critical of the team's spending. He was one of its four primary owners, and he came out and said the team was spending too much money all around the operation, and that led to the team's board hiring Bolas in company to manage a sale of the club. So again, Bay and Iger come in, a deal could be announced soon, it would put the valuation of the team north of $250 million, which I know many are going to have a hard time to make that deal pencil out, but few will doubt the investment strategy of Bob Iger and most investors see these type of investments as a long-term generational play, but this would be massive news for the NWSL with Bob Iger and Willow Bay coming aboard to lead Angel City. Speaking of records, let's stay with women's sports. The Las Vegas Aces Indiana fever Tuesday night drew the largest WNBA crowd in 25 years. As 20,300 fans saw the Aces beat the fever at T-Mobile Arena, that was a record of course for the Aces. It was just 300 fans shy of the WNBA's all-time record, so we see the Aces and the fever continue to be the main draws in the W. I was a Nashville for a few days doing a site visit for SBJ's World Congress of Sports which will take place there in April, and I know I harp on this a lot, but these business-friendly southern cities are leaning heavily into sports. I talked about Atlanta last week, well put Nashville right up there, a heavy sports theme throughout that marketplace and a lot of energy and business transactions around sports. The biggest story around sports business in the Nashville market is the new Nissan stadium. I was able to go and visit Titan's house, which is a sales showcase for that organization's new stadium. That stadium is scheduled to open in 2027, and I'll just say it'll be a national force in hosting major events. The building is very urban, it's right along the river, it has so many unique elements that will make that building special, and of course it has a roof, but it's not just the Titans. There is Nashville SC that has a very strong local following, and let's face it, the predators were the talk and have been the talk of NHL free agency, and Bill Haslam will eventually take control of that team next July, and Haslam, the former Tennessee governor, is incredibly well respected in that market, but back to the predators. They signed three of the top free agents on the NHL marketplace. They committed more than $111 million on four players easily. The most aggressive period for the predators in free agency ever, and it's clear the team has made a statement that it wants to compete for a Stanley Cup, so the predators have strong support in the marketplace, but the bottom line, it is a very interesting, successful, and action-oriented sports city, and Nashville has a lot going for it. We know the tourist operation is there with Broadway, but the sports business scene in Nashville is real. Let's stay with the NHL and the Stanley Cup champions have a new TV home. The Florida Panthers are taking their local telecasts over the air with script sports after agreeing with Diamond Sports Group to end their deal that has seen their game's air on Bally Sports Florida's regional sports network. So what does this mean? It means next season the Panthers will be seen on over the air script networks in Miami, West Palm Beach, and Fort Myers. So the two will also partner on a direct-to-consumer streaming service next season. So the Panthers become the third NHL team to take this path with scripts. The Vegas Golden Knights did it, and the Utah Hockey Club will do it. So the reason for this move is while the team will get less in media rights revenue, they will make that up in broader distribution and some stability in knowing their future media model. So under this deal, Panthers games will be available in 2.6 million households in South Florida. That is at least double or more of the reach of Bally Sports Florida. And so the team believes they can benefit from that by selling more advertising and more sponsorships at higher rates. So scripts will handle production for Panther games, Panthers lead Bally's for over the year coverage next season. You know, every conversation I had last week and this week revolved around what the U.S. men's national team had to do to make their appearance in Copa America a success. And every insider said the same thing. Well, they've got to get out of their group and get into the semi-finals. We know that didn't happen and that's not a good story for the business of U.S. Soccer. Remember, the U.S. Soccer Federation is undergoing massive change and advancements. But the team's performance on the men's side is not helping the efforts. And so U.S. Soccer will do a complete review and they know they need to turn this around with the World Cup and the U.S., Canada and Mexico just two years away. Everything has been building towards 2026 and now all that progress seems really offline. It's a tough situation to be in. Like I said, U.S. Soccer is making a lot of investments in the business, on the community side and on the training and competition side. But the men's team is just not seen as even close to being the best in the world and that makes the efforts of U.S. Soccer more challenging. Trust me, this is one of the most significant issues that U.S. Soccer needs to figure out. A couple of other quick things, a changing of the guard at the Ohio State University as Ross Bjork takes over as Athletic Director and longtime AD Gene Smith and his wife Sheila leave Columbus for Scottsdale in a quieter life. Remember, Ohio State hired Ross Bjork from Texas A&M in January and he spent that time getting familiar with the school, meeting administrators, leaders and coaches, but he was formally elevated to Athletic Director on July 1st and now he has said he will focus his attention on areas that need it. He needs to increase revenue, he needs to increase fundraising, he wants to do a significant renovation of the Woody Hayes Athletic Center that could cost close to $200 million. He said the Ohio State University ice rink is another facility needing improvement. Ross Bjork said he has no plans to overhaul the department staff and he said there are no key openings and does not anticipate turnover. So it seems that he will keep Gene Smith's staff intact as Ross Bjork takes over the Athletic Department at the Ohio State University easily, one of the marquee institutions in collegiate athletics. And let's end the buzz cast around some names in the news. Kudos to some real pros, Joe Buck, Andrea Kramer and Jason Stark. They were formally inducted into the National Sports Media Association Hall of Fame this week in Greensboro, North Carolina, Tim McCarver and Roger Kahn were also inducted posthumously. Meanwhile, Kevin Carlin of CBS, Westwood One and Turner was named National Sportscaster of the Year, ESPN's Jeff Passen was named National Sportswriter of the Year, the Sports Book of the Year, Why We Love Baseball, A History in 50 Moments by Joe Puznansky and the Sports Documentary of the Year was Netflix Beckham. So some awards handed out at the National Sports Media Association's Hall of Fame event in Greensboro. And finally, a hat tip to longtime NASCAR executive Darryl Wolf, who will retire from NASCAR at the end of this season. Darryl Wolf has had a strong run, 30 years with the France family. He first joined International Speedway Corporation in 1995. Over the years, he has risen through the ranks, becoming one of the most powerful marketing executives in NASCAR, and he originally started in roles like the director of publicity for Daytona International Speedway. He currently serves as chief revenue officer, but will step down at the end of this year before moving into a consulting role for NASCAR. His position oversees a lot, ticketing, sponsorship, licensing, partnership marketing, fan experience. It is a big job, but no details yet on how NASCAR plans to fill this role going forward. And so that is your morning buzz gas. For Wednesday, July 3rd, I made Matt Corps have a great July 4th. Be safe, be healthy, be good to each other. I'll speak to you on Friday. [MUSIC]