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Bust, Boom, and Hope: July 11, 2013

By Rick Horrow and Karla Swatek

July 11, 2013

“Bust”: Top Five Reasons the Armageddon is Near

1. The St. Louis Convention & Visitors Commission rejected the Rams’ proposal for a $700 million renovation to the Edward Jones Dome. The Rams’ lease obligates the team to play two more seasons at the Dome, but if the building isn’t renovated, the team could leave St. Louis after the 2014 NFL season.

2. Anaheim officials said that the city-owned Angels Stadium is in need of $150 million in upgrades over the next decade. The Angels can terminate their lease at the 47-year-old ballpark as early as 2016, but the city hopes they can include a renovation plan as part of lease extension negotiations.

3. Despite Andy Murray’s historic Wimbledon win over Novak Djokovic, TV ratings for ESPN’s broadcast of the men’s final were down 35% compared to last year. ESPN also saw ratings fall 21% for coverage of the women’s final between Marion Bartoli and Sabine Lisicki.

4. Golf Hall of Famers Nick Faldo and Jack Nicklaus believe that Rory McIlroy’s new equipment contract with Nike is to blame for his poor play this season. In addition to continually trying new clubs, McIlroy also has several off-course obligations under his Nike deal.

5. The cost of renovating Orlando’s Citrus Bowl is expected to exceed its $190 million budget by $18-27 million. Orange County already has committed $155 million to the project, including extra money for cost overruns. Citrus Bowl execs want the extra money to make the stadium competitive for a BCS bid.

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

1. Rare is the sports partnership that helps improve a team’s business efficiency internally, while also helping enhance the fan experience. Yet that’s exactly what the Los Angeles Dodgers’ deal with Citrix, makers of GoToMeeting, has done. Each month during the season, fans have the opportunity to win a Citrix videoconference with a Dodger legend.

2. After becoming the first Brit to win Wimbledon in 77 years, Andy Murray likely will reap a marketing windfall. Branding consultants expect Murray’s off-court earnings to increase from $12 million to more than $30 million annually. Among his current sponsors are Adidas, Royal Bank of Scotland, and Rado.

3. The University of South Carolina Board of Trustees approved an athletic department record $84 million budget for the 2014 academic year. The budget is up $2.3 million over last year and doesn’t include potential bowl disbursements, which means actual revenue could be even higher than projected.

4. One of the few times a sports team should be lauded for losing money, the New England Patriots exchanged more than 1,200 Aaron Hernandez jerseys, including 300 youth jerseys. The swap cost the team $250,000, but helped take several Hernandez jerseys out of circulation.

5. Tiger Woods’ annual World Challenge golf tournament will proceed this December as planned. The event, which benefits the Tiger Woods Foundation, is so important to Woods that he reportedly spent $4 million of his own money to cover the tournament’s operating costs last year.

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

1. The Jacksonville Jaguars are converting patio space at EverBank Field into a high-tech fantasy football lounge. The lounge will have 30 HD TVs streaming games and the NFL RedZone channel, as well as high-density WiFi for fans interested in following their fantasy football team.

2. Retired football coach Bobby Bowden is returning to FSU to help the school with fundraising efforts. Bowden granted Seminole Boosters the right to use his name and likeness under an exclusive licensing agreement in exchange for $250,000 per year and half of the net royalty income from licensing. Bowden had been at odds with the school since he was forced into retirement in 2009.

3. An editorial in the Houston Chronicle calls for the U.S. Golf Association to distribute equal prize money at the men’s and women’s U.S. Opens. Justin Rose made $1.4 million for winning this year’s men’s Open, but Imbee Park took home just $585,000 for winning the women’s Open.

4. Despite not endorsing any athletes in major professional sports prior to 2010, New Balance currently sponsors nearly 40% of MLB players. New Balance decided to focus marketing efforts on baseball because cleats are some of its most popular products and baseball was the sport it thought it could take the most market share from Nike and other manufacturers.

5. Tennis equipment manufacturer Prince opened a new year-round shop in Wimbledon Village. If the store proves successful, Prince will consider opening similar shops near the other tennis Grand Slam venues in New York City, Paris, and Melbourne, Australia.

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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.
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.
Beyond the Scoreboard: Chapter 1. The Mega-Master Super Series XLXL eBook chapter

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