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Bust, Boom, and Hope: April 23, 2012


By Rick Horrow and Karla Swatek

April 23, 2012

“Bust”: Top Five Reasons the Armageddon is Near

1. Sacramento Kings owners the Maloofs have killed an agreement between the team and the city to build a $390 million downtown arena, calling the non-binding proposal a “bad deal.” The Maloofs say they’ll keep the team in Sacramento next season, but that’s likely because the NBA’s window for relocation requests has already closed.

2. The Minnesota legislature has rejected a proposed public subsidy package to help finance a new $1 billion stadium for the Vikings, leaving the team’s future in the state in jeopardy. The Vikings say they will continue to push the proposal until the legislature adjourns in two weeks.

3. Three years into a $270 million fundraising effort, the University of California-Berkeley has raised just $31 million to renovate its football stadium. University officials have acknowledged that any funding shortfalls would have to be covered by campus fees.

4. The Washington Nationals drew just 16,245 fans to Nationals Park for Stephen Strasburg’s first home start of the season, by far the lowest home attendance for a Strasburg game since he came up to the Majors in 2010. The Nationals averaged 33,446 fans per Strasburg start in 2010 and 28,849 per start last year.

5. One of the world’s most valuable soccer teams, Liverpool FC will miss out on next season’s European Champions League for the third consecutive year. Missing the competition could lead to a loss of $45 million and a decreased willingness of top players to join the club, according to Jere Longman of the New York Times.

 

“Boom”: Top Five Reasons that Prosperity is Right Around the Corner

1. Sky Deutschland beat out Deutsche Telekom in an auction for German Bundesliga TV rights. Beginning in 2013, Sky will pay $3.3 billion over four years for rights to show Bundesliga matches on cable and satellite, plus the mobile and IPTV rights previously held by Deutsche Telekom.

2. Chicago Mayor Rahm Emanual is working to ease Wrigley Field’s landmark status so the Cubs can renovate the ballpark without relying on public funds. According to Emanuel’s plan, the Cubs could make $150 million in advertising and sponsorships from the stadium and surrounding neighborhood.

3. Dr. Pepper Snapple Group signed a seven-year, $21 million sponsorship deal with the Chicago Bears to become the team’s official and exclusive soft drink provider. The company’s RC Cola brand will title sponsor the Bears’ training camp. Coca-Cola previously held the Soldier Field pouring rights.

4. Spanish bank BBVA has purchased the sponsorship rights to NBA D-League jerseys during this year’s playoffs. This is the first time a league sponsor other than Adidas has had its logo on a D-League jersey. The experiment opens the door for the NBA to allow jersey sponsors within the next few years.

5. The University of Southern California has signed a multiyear radio deal with ESPN to have Trojans home football games aired nationally, according to John Ourand of SportsBusiness Journal. USC joins Notre Dame as the only two football programs in the country with a national radio deal.

 

“Hope”: Top Five Reasons That Creativity is the Key to Economic Survival

1. New Orleans Hornets owner Tom Benson wants to change the team’s name to something that better reflects the local culture. Benson had expressed interest in reacquiring the Jazz nickname, but Commissioner David Stern was quick to shoot down the possibility. The Jazz relocated from New Orleans to Salt Lake City in 1979, while the Hornets moved to New Orleans from Charlotte in 2002.

2. The NFL formed a new partnership with the nonprofit Women in Sports & Events in an attempt to enhance its gender-diversity efforts, according the Daniel Kaplan of SportsBusiness Journal. Per the deal, the NFL is paying WISE to develop mentoring programs to help women advance in the sports industry.

3. To capitalize on the recent controversy surrounding manager Ozzie Guillen, Showtime aired a special preview episode of its upcoming series, The Franchise: A Season With the Miami Marlins. The series won’t officially premiere until July 11, but the preview episode could help generate new subscribers in the interim.

4. The U.S. men’s national soccer team unveiled its new jerseys for the two years leading up to the 2014 FIFA World Cup. The jerseys incorporate a flag motif and pay homage to the U.S.’ 1950 World Cup upset win over England. The jerseys will be available at retail on April 26.

5. The University of Missouri during halftime of its spring football game unveiled new Nike uniforms for the school’s football, basketball, soccer, and volleyball teams. The new look, which took 18 months to develop, is expected to bring a significant increase in merchandise sales.




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Rick Horrow, America’s leading expert in sport business, and coauthor Karla Swatek give fans an inside look at the multibillion-dollar world of professional sport.
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Rick Horrow, America’s leading expert in sport business, and coauthor Karla Swatek give fans an inside look at the multibillion-dollar world of professional sport.
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