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Bust, Boom, and Hope: August 22, 2011


By Rick Horrow and Karla Swatek

August 22, 2011

“Bust”: Top Five Reasons the Armageddon is Near

1. The University of Miami could become the first D-I program to receive the NCAA death penalty since SMU in 1987. A Yahoo! Sports investigation found that Hurricanes booster Nevin Shapiro gave improper benefits to 72 players and recruits over the last eight years. The report also implicated 10 coaches for participation in the scandal.

2. The University of Southern Cal could block an NFL team from playing at the Coliseum while Farmer’s Field is under construction, according to Pringle & Zahinser of the L.A. Times. The Trojans will exercise their veto power against NFL games at the stadium unless the school receives a new lease giving them almost total control of the venue.

3. The Texas Rangers are suing former owner Tom Hicks for $35 million, claiming he made himself rich at the team’s expense. The suit, filed by JPMorgan Chase on behalf of creditors, alleges Hicks bought land and built parking lots with team funds.

4. Documents filed in U.S. Bankruptcy Court indicate the Los Angeles Dodgers are on pace for a sharp drop in revenue this season. The Dodgers currently are on pace to finish the season with $240 million in revenue, down 10% from $265 million last year and 15% from $280 million 2009.

5. Last-ditch efforts to build a new New York Islanders arena haven’t impressed Nassau County executive Ed Mangano. Mangano has received only eight proposals to privately finance and build a new arena, but he deemed all of them unacceptable. The Islanders’ Nassau County lease expires in 2015.

 

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

1. EPL club Manchester United plans to raise $1 billion from a Singapore IPO this fourth quarter. ManU had been listed on the London Stock Exchange until Malcolm Glazer bought the club in 2005. Forbes this year valued the club at $1.86 billion, making ManU the most valuable soccer team in the world.

2. Fox and the UFC announced a seven-year TV rights deal worth approximately $90 million annually. Per the deal, Fox will broadcast four UFC events per year, while FX will carry six and the "The Ultimate Fighter" reality series. Fox will air its first UFC event on November 12.

3. Sports Authority has purchased the naming rights to the Denver Broncos’ stadium for $150 million over the next 25 years. Invesco previously owned the entitlement. Sports Authority’s biggest competitor, Dick’s Sporting Goods, owns the naming rights to Denver’s MLS stadium.

4. A poll of Sacramento-area residents found that nearly two-thirds of respondents support a new downtown basketball arena for the Kings. Of those interviewed, 75% said they’d rather have a public-private partnership than no arena at all. The Kings will relocate to Anaheim after this season if no arena deal is reached.

5. The Red Wings and MillerCoors extended their longstanding partnership through the 2015-16 NHL season. As part of the deal, Miller Lite retains its distinction as the official domestic beer of the Red Wings. Miller has been a Red Wings sponsor since 1993.

 

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

1. Two U.K. female beach volleyball players will sell advertising space on the backside of their bikini bottoms for the 2012 London Olympics. The players will have a QR code on their bikinis, enticing photographers and fans to take pictures of their butts.

2. The Florida Panthers, in coordination with sponsor JetBlue, are rolling out a new promotion to make one fan an “On the Fly” reporter. The reporter will be the voice of Panthers fans, providing behind the scene access at training camp and covering the first game of the season in New York.

3. IMG College has brokered a deal with Old Navy to sell NCAA-branded clothes and accessories. Approximately 1,000 Old Navy stores across the country will carry clothes for the prominent local athletic programs. IMG College represents more than 70 of the NCAA’s biggest schools.

4. The New York Mets gave away 100 free tickets for Friday night’s game against the Milwaukee Brewers to the first 100 fans willing to hug movie star Nick Cannon. Cannon was on hand attempting to break the Guinness World Record for most hugs in an hour.

5. The Cleveland Indians are bringing back Snow Days, the popular winter carnival the team held last offseason at Progressive Field. In its first year, the event drew more than 50,000 fans and revenue in the high six-figures. This year’s Snow Days will include a college hockey match between Michigan and Ohio State.




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Beyond the Scoreboard
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.
$19.95
Beyond the Scoreboard eBook
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.
$19.95

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