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Bust, Boom, and Hope: April 9, 2013


By Rick Horrow and Karla Swatek

April 9, 2013

“Bust”: Top Five Reasons the Armageddon is Near

1. For-profit prison operator GEO Group has withdrawn its $6 million gift for the naming rights to Florida Atlantic University’s football stadium. The agreement had received widespread criticism, and became too much of a distraction for the company and the school.

2. Despite slashing payroll by more than $50 million, the Miami Marlins expect to post an operating loss this season. The team’s season ticket-base has fallen 60% from last year, and the Marlins are the only MLB team that used Groupon to sell Opening Day tickets. The Marlins lost $47 million last season.

3. One of the stadiums Brazil had hoped to use for the 2014 World Cup is closed indefinitely after authorities said there were structural problems with the building’s roof. Estádio Olímpico João Havelange won’t be used during next year’s World Cup, may not be ready for the 2016 Summer Olympics in Rio.

4. The Arizona Cardinals have lost Northern Arizona University as an option for its training camp location as negotiations to permanently move to Glendale progress slowly. The Cardinals had held camp at NAU for the past 25 years. If a deal with Glendale isn’t reached soon, the team will need to find an interim site for this summer’s workouts.

5. The NBA’s strategic resting rules are being called into question after the Miami Heat weren’t fined for resting three starters, including Lebron James and Dwyane Wade, in a game against the San Antonio Spurs. The Spurs were fined $250,000 earlier this season for sitting their stars against the Heat.

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

1. The average MLB team payroll topped $100 million on Opening Day, as a record 14 teams began the season with a nine-figure payroll. The New York Yankees lead the league for the 15th consecutive season with $228 million in salaries. The average MLB salary is $3.6 million, a 5.9% increase over 2012.

2. Atlanta’s economic development authority has approved issuing more than $200 million in bonds to partly finance a new Falcons stadium. The vote was the last political hurdle the Falcons had to overcome in their plans to build a $1 billion retractable-roof stadium in downtown Atlanta.

3. Visa signed an eight-year extension of its FIFA World Cup sponsorship in a deal worth $170 million through 2022, according to Tripp Mickle of SportsBusiness Journal. Visa is also an IOC TOP sponsor, meaning the company has marketing rights to the two premier global sports properties for the rest of the decade.

4. Wichita State University will reap a financial windfall from the school’s first Final Four appearance since 1965. School officials expect sizable increases from at least three revenue streams: tournament-related earnings, increased merchandise sales, and increased contributions from donors.

5. The WNBA signed a six-year extension of its TV rights deal with ESPN worth $12 million annually. The deal runs through 2022, and pays each WNBA team about $1 million per season. ESPN has broadcast WNBA games since the league’s inaugural 1997 season.

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

1. Rapper Jay-Z has launched his own sports agency with impending New York Yankees free agent Robinson Cano as his first client. Roc Nation Sports is the newest division of Jay-Z’s full-service entertainment company. The agency is teaming with CAA Sports on Cano’s contract negotiations.

2. The Communications Workers of America, on behalf of Cablevision employees, are running a series of ads urging the NBA to select Barclays Center over Madison Square Garden as the host of the 2015 All-Star Game. The ads claim New York Knicks Owner and Cablevision CEO James Dolan shouldn’t be rewarded with the game because he "fires and intimidates" employees.

3. The NFL is mandating teams to install cameras in home locker rooms with the option of showing the footage in stadium during halftime and other breaks. The move is part of the league’s attempt to provide an in-stadium experience that fans cannot get at home.

4. Florida Gulf Coast University is trying to capitalize on their unexpected Sweet 16 appearance by implementing season-ticket deposits and adding new courtside seats. The school also asked fans to donate $16, $160, or $1,600 to the athletic department, in homage to the school’s tournament run.

5. Adidas is launching a worldwide merchandise line around international soccer star Lionel Messi. Despite being arguably the best soccer player in the world, Messi is relatively unknown in the U.S. Adidas hopes his awareness in the U.S. will increase during the 2014 World Cup.




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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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