This week the news cycle highlights the ever-growing demand and unparalleled enthusiasm from fans for live event experiences resulting in?record-breaking attendance numbers.
- The Infinity League, a new indoor mixed soccer event, will feature Bayern Munich, Borussia Dortmund, and Delay Sports Berlin and will take place on May 26th at BMW Park in Munich, broadcast live and for free on DAZN in multiple regions including Germany, Austria, Switzerland, Luxembourg, and Liechtenstein.
- This one-day tournament will involve mixed teams of German soccer legends, young players, and content creators playing on an innovative Glassfloor surface, with matches consisting of 20-minute games split between men’s and women’s teams.
- The event emphasizes a fusion of sports and entertainment with the integration of new technologies such as body cams and an interactive playing surface, supported by partnerships with Warner Music and Kicker for promotional efforts.
- Major League Baseball experienced its highest non-Opening Week single-day April attendance in eight years on Saturday, with 540,363 fans attending 16 games, the most since April 23, 2016.
- The overall weekend saw an impressive turnout with 1,460,736 fans across 46 games from Friday to Sunday, marking the best April weekend attendance (excluding opening weekends) since 2017.
- Highlight performances included Braves catcher Travis d'Arnaud hitting three home runs in a single game, joining elite company with multiple three-homer games as a catcher, and Shohei Ohtani setting a record as the MLB's all-time home run leader among Japanese-born players.
- Over 50,000 F1 fans gathered in Washington D.C. for Red Bull's first Showrun event, lining up eight-deep along a five-block track on Pennsylvania Avenue, with some fans climbing trees and light poles for a better view of the action.
- The highlight for many was the demonstration of the Oracle Red Bull Racing’s RB7, driven by David Coulthard, a car famously piloted by Sebastian Vettel to a world championship in 2011, generating excitement despite D.C. not being a rumored location for future F1 expansion.
- The event was part of a strategy by F1's American owners, Liberty Media, to engage the U.S. market by making events more accessible and is seen as a test of the sport's growing popularity in the U.S., with potential implications for future expansion and fan retention in the region.
PWHL sets another crowd record at Bell Centre (Demand For Live Events / Rise of Women Sports)
- The PWHL matchup between Montreal and Toronto at the Bell Centre drew a record-setting crowd of 21,105, the largest attendance ever for a women's hockey game, surpassing the previous record of 19,285 set at the Scotiabank Arena in February.
- This landmark game, which wasn't initially scheduled for the Bell Centre, marks the sixth attendance record broken by the PWHL since its inception on January 1, with Montreal featuring in five of those record-setting games.
- The event was celebrated not just as a competitive sports match but as a broader celebration of women's sports, featuring enthusiastic fan participation with white towels, flashing bracelets, and loud cheers, enhancing the festive atmosphere of the occasion.
- The Washington Mystics have moved their upcoming game against the Indiana Fever on June 7 to the larger Capital One Arena due to high demand, with the game maintaining its original 7:30 p.m. start and airing on ION television as part of the WNBA’s Friday Nights series.
- Season ticket members and plan holders will have their seats relocated within the new venue, while single-ticket buyers can choose their seats starting April 23, allowing for increased attendance and enhanced hospitality options like the Hennessy Lofts.
- The heightened interest in the WNBA and the Mystics is attributed to record viewership and attendance last season and the influx of new talent from the collegiate draft, including Washington’s first-round pick Aaliyah Edwards.
- The Dallas Wings have sold out of season ticket memberships for the first time in the franchise's history, largely attributed to the excitement surrounding rookie Caitlin Clark, with season tickets making up nearly 40% of the College Park Center's capacity. Individual ticket sales have surged by 1,170%, and overall ticket sales are up 220%.
- Due to high demand, a waitlist for Wings' season ticket memberships has been established, offering benefits like presale access to 2024 WNBA Playoff games and discounts on regular-season games where tickets are still available. Several games for the upcoming season are expected to sell out as the team plans a move to Downtown Dallas.
- Similarly, the Atlanta Dream have sold out their season ticket allotment for the upcoming season, setting a record for single game ticket sales in a limited presale, with games against the Fever, Chicago Sky, and Las Vegas Aces already sold out. The Dream is exploring ways to add temporary seating for sold-out games and has introduced a season ticket waiting list.
- The NHL experienced its highest television ratings since the 2015-16 season during the 2023-24 regular season, with an average of 504,000 viewers per game across ABC, ESPN, and TNT, representing an 8% increase from the previous year, driven largely by ESPN's 25% viewership growth.
- The Feb. 18 Rangers-Islanders game was the most-watched regular season NHL game on ABC, drawing 1.57 million viewers, marking it as the most-viewed regular season game since Disney's $2.8 billion media rights agreement with the NHL in 2021.
- NHL's overall attendance also reached a record high, with more than 22.9 million fans attending games, resulting in arenas operating at 97% capacity, and significant advertising revenue growth, with in-game ad revenue reaching an estimated $67.5 million for the season.
- The PGA Tour is experiencing a significant decline in linear TV viewership in 2024, with NBC's viewership down 16% and Golf Channel's down 18% compared to 2023, while CBS also reported decreases despite airing fewer live rounds due to weather disruptions.
- Despite the downturn in traditional TV viewership, the PGA Tour has observed positive trends on digital platforms, including a 25% increase in YouTube views, 18% growth in website visits, and a 16% rise in overall betting handle, reflecting a shift in how fans are engaging with the sport.
- Contributing factors to the declining TV ratings include the absence of star players frequently topping leaderboards, adverse weather affecting several tournaments, and the impact of prominent players moving to the rival LIV Golf, which itself has seen viewership ranging between 195,000 to 432,000 on The CW.
- Sue Bird has joined the ownership group of the Seattle Storm, the team where she spent her entire WNBA career, won four championships, and was a 13-time All-Star.
- Bird expressed her excitement about continuing to contribute to the growth of women's sports, noting it as both a passion and a smart business decision.
- This is Bird's second venture into sports team ownership, following her investment in the NWSL’s NJ/NY Gotham FC in 2022.
- Buffalo Bills owners, the Pegulas, are considering the sale of a minority stake in the team, potentially around 25%, though this percentage is not confirmed.
- Hiring investment bank Allen & Company indicates preparation for a significant transaction, likely aimed at managing financial pressures such as the cost overruns from their new stadium project.
- Despite exploring the sale of a stake, the Pegulas may choose not to sell. The Bills' valuation has significantly increased since their purchase in 2014, reflecting a broader trend of high valuations across the NFL.
- Alexis Ohanian, founder of Reddit, announced through his venture capital firm, Seven Seven Six, the sponsorship of a new women-only track event, the 776 Invitational, which will offer the largest purse ever for such competitions, with significant prizes for the top three finishers.
- The 776 Invitational aims to revolutionize how track events are presented and experienced, both in broadcasting and live spectator engagement, focusing on elevating the profile of women athletes and promoting a more equitable sports environment.
- The initiative is part of Ohanian's broader efforts to enhance visibility and support for women's sports, demonstrated also by his recent investment in The Sports Bra, a venue dedicated to broadcasting women's sports.
- Olympic champion Michael Johnson has raised over $30 million from investors, including the lead investor Winners Alliance, the for-profit arm of the Professional Tennis Players Association, to launch a track league in 2025 designed to boost interest in the sport. The league will operate during the usual track season from April to September, focusing on highlighting key athletes and rivalries.
- The league aims to enhance the visibility and popularity of track and field by creating engaging content around its athletes, using fan-focused storytelling and strategic partnerships with agencies like Doubleday & Cartwright, which will help develop the league’s and athletes' graphic identities.
- Johnson's league will also work with Two Circles, a data-driven sports marketing agency, to attract and engage fans, and SRK Strategies, which will handle public relations. These collaborations aim to modernize fan interaction and strengthen the league's promotional efforts, with plans to reveal the league's name and further details in June and start competitions the following year.
- Advisers for Everton Football Club have initiated the search for an alternative buyer due to the Premier League's hesitancy to grant full approval for the purchase by 777 Partners, an American investment firm facing scrutiny over its financial stability and legal issues in the U.S. Deloitte, authorized by Everton's owner Farhad Moshiri, is exploring potential buyers, including sovereign wealth funds from Middle Eastern nations like Qatar.
- Despite an existing agreement with 777 Partners and ongoing efforts to complete the sale, Everton's financial struggles continue, with the club having borrowed nearly $200 million from 777 Partners to avoid bankruptcy. The club's financial woes are compounded by the risk of additional points deductions from the Premier League for exceeding cost-control regulations.
- Everton's future is clouded by uncertainties, including the completion of its new $900 million stadium, which is currently half-finished. Any prospective buyer would need to secure substantial funding to finish the stadium construction, as the club navigates its precarious financial and competitive position.
- Apex, a sports-focused investment firm, has reached the second close of its €50 million fund with contributions from athletes in soccer, cycling, rugby union, and other sports. Notable investors include soccer stars Marcelo, Cody Gakpo, and William Troost-Ekong, as well as other prominent athletes like English rugby player Maro Itoje and cyclist Mark Cavendish.
- The firm, which started its athlete-driven venture capital fund in September 2023, now boasts a diverse group of over 100 athlete investors, including Formula One drivers and an Olympic rower. Apex is also involved in the ownership of a TGL golf league franchise and has stakes in the Alpine Formula One team.
- Apex's CEO, Antonio Cacorino, highlights the expansion of the fund and its future focus on investing in sports, media, and entertainment sectors, aiming to leverage the unique experiences of athlete investors to drive transformative change and inspire new investments.
- The NFL is exploring private equity investments and may soon allow such investments under specific conditions, including the creation of NFL-specific funds that prevent investments in other leagues. This is part of broader changes where North American sports leagues, prompted by financial challenges from the Covid-19 pandemic, are opening up to private equity, with MLB, NBA, NHL, and MLS already permitting these investments.
- A special committee of NFL owners is working on revising ownership policy rules to accommodate private equity stakes, potentially allowing only minority common-equity investments. This follows a trend in American sports where private equity firms hold minority stakes in teams, demonstrating a significant shift in how sports franchises are financed.
- The NFL's media rights deals, which are extremely lucrative, make the league an attractive investment for private equity. The growing financial valuations of sports teams, evidenced by record sales and expanding media rights revenue, reflect an overall surge in US sports valuations, setting the stage for increased private equity involvement in sports leagues.
- FC Porto has entered into a 25-year agreement with Spanish investment firm Ithaka to sell 30% of the economic rights of Estádio do Drag?o for €65m, which will fund upgrades to the stadium and enhance the club's competitiveness. The economic rights include revenue from sponsorship, ticketing, naming rights, and non-sporting events.
- The deal involves the creation of a new company within the FC Porto Group to manage the commercial aspects of the stadium, with Ithaka providing the investment. Despite selling a portion of the economic rights, FC Porto will maintain full ownership and control over the stadium's operations.
- The announcement comes shortly before FC Porto's presidential election, sparking controversy among candidates, with criticism focusing on the timing and necessity of the deal in light of the club's financial struggles, including a significant loss reported in the previous fiscal year.
- Alexis Ohanian, through his 776 Foundation, is investing in The Sports Bra, a Portland-based sports bar that focuses on broadcasting women's sports, with plans to expand the concept to other cities.
- Known for his advocacy and support, Ohanian's investment aligns with his broader involvement in women's sports, including owning significant stakes in Angel City FC and participating in women's sports collectibles.
- Ohanian announced that any financial returns from The Sports Bra investment will be reinvested into girls' and women’s sports, underscoring his commitment to fostering growth and support in this area.
- Range Media Partners, a talent representation and content production firm, has received a minority investment from notable investors including David Bonderman, Liberty Global, and Rick Hess, boosting the company's valuation to nearly $400 million. This funding will support Range's growth strategies in media rights and content production.
- Established in 2020 by former agents from major agencies like CAA, UTA, and WME, Range Media has rapidly expanded, forming Range Sports and representing a diverse clientele including NFL players and NBA teams. The firm is also enhancing its production capabilities, with plans to produce up to 10 shows for Elon Musk’s platform, X.
- The investment round, led by Forest Road Asset Management with contributions from Playground Productions, aims to facilitate Range’s expansion into new markets and sectors, including international operations, sports verticals like golf and women’s sports, and a new music publishing division.
- Infinite Reality, an AI technology firm, has agreed to acquire the Drone Racing League (DRL) for $250 million, enhancing its capabilities and IP portfolio, and increasing its valuation to $3.5 billion. This acquisition adds to Infinite Reality's diverse portfolio, which includes various tech and entertainment entities.
- DRL, previously backed by a range of prominent investors like RSE Ventures, Liberty Media, and T-Mobile Ventures, among others, will join Infinite Reality's extensive array of assets, which includes spatial web design, entertainment production, and esports franchises.
- As a result of the acquisition, DRL's founder and CEO, Nicholas Horbaczewski, will step into the role of Global President at Infinite Reality, and DRL President Rachel Jacobson will become President of Global Business, Ventures, and Partnerships, continuing their leadership in expanded roles within the new parent company.
- LiveMode, a Brazilian agency, has received strategic investment from General Atlantic and XP Investimentos, enhancing its role as the exclusive agency for Liga Forte Uni?o (LFU), responsible for negotiating domestic broadcasting rights starting from 2025. These investments aim to fuel LiveMode's growth in sports and media, focusing on football, Olympic sports, and emerging sports.
- The company, co-founded by Edgar Diniz and Sergio Lopes in 2017, is backed by General Atlantic and XP Investimentos as part of their support for the LFU. This partnership is intended to boost LiveMode's capabilities in handling sports media rights and league management, leveraging the trend of traditional sports media disruption by streaming services.
- LiveMode plans to use this investment for international expansion and further development of its sports rights management, including retaining its position as FIFA's exclusive media rights sales agent in Brazil for the 2026 World Cup and managing rights for other significant sports events like the Paris 2024 Olympics and Euro 2024.
- Magnus Carlsen, renowned chess grandmaster and a top fantasy soccer player, has invested in Toca Football, a company known for its tech- and data-driven soccer training academies and as the official training partner of Major League Soccer.
- Carlsen, who topped the Fantasy Premier League among over seven million participants in 2019, sees a significant strategic and tactical overlap between chess and soccer, influencing his decision to invest.
- Toca Football has notable endorsements from athlete ambassadors including Alyssa and Gisele Thompson of Angel City FC and England's national team captains, Harry Kane and Leah Williamson.
