By Rick Horrow and Karla Swatek
May 13, 2013
“Bust”: Top Five Reasons the Armageddon is Near
1. Public subsidies to Division-I NCAA athletic departments rose by nearly $200 million from 2011 to 2012, the greatest year-over-year dollar increase since the data first was compiled in 2004. Of the 228 D-1 public schools, only 23 are self-sustaining, and of those, 16 still received some form of subsidy.
2. Chicago Cubs owner Tom Ricketts is threatening to move the team to a new ballpark if a planned Wrigley Field renovation falls through. As part of the plan, Ricketts wants a scoreboard triple the size of the one currently at Wrigley to help generate new advertising revenue.
3. The NFL is reevaluating its controversial partnership with helmet manufacturer Riddell, whose 25-year contract with the league expires after this season, according to Daniel Kaplan of SportsBusiness Journal. Riddell is named along with the NFL as defendants in a class-action suit brought by former players alleging they were misled about the dangers of playing football.
4. The Miami Dolphins say they will not personally invest in Sun Life Stadium renovations after the state denied the team public money. Having been unable to secure financing for a $350 million renovation, the Dolphins and South Florida likely will lose out on Super Bowls 50 & 51, to be awarded on May 21.
5. Vijay Singh is suing the PGA Tour over doping allegations involving his use of deer antler spray. The suit charges the Tour with violating its duty of care and good faith and exposing Singh to public humiliation and ridicule. Singh ultimately was cleared of any wrongdoing.
“Boom”: Top Five Reasons that Prosperity is Right Around the Corner
1. The Los Angeles Dodgers and MLB reportedly are close to settling a revenue-sharing dispute regarding the team’s new 25-year, $8 billion TV rights contract with Time Warner. The TV deal faced increased scrutiny because it’s much more lucrative than what a bankruptcy court estimated when previous Dodgers owner Frank McCourt sold the team.
2. The SEC and ESPN signed a 20-year deal through 2034 to create and operate a conference TV network, which will launch in August 2014. ESPN will own the actual network, with the SEC owning all of the content. The two sides will spit the network’s profits evenly.
3. Levi Strauss has purchased the naming rights to the San Francisco 49ers’ new $1.2 billion stadium. The company will pay $220 million over 20 years for the rights, and the facility will be called Levi’s Stadium. The stadium is a heavy favorite to be awarded Super Bowl 50.
4. Orlando’s Citrus Bowl later this year will begin work on a $175-200 million renovation that will see 80% of the facility become brand new. Preliminary construction is scheduled to begin in October, with demolition and reconstruction work not commencing until after the college bowl games.
5. A handful of PGA tournaments are installing WiFi hot spots at their courses as the Tour becomes more accepting of cell phones, according to Michael Smith of SportsBusiness Journal. Among some of the first tournaments to install the hot spots are the Wells Fargo Championship and the Players Championship.
“Hope”: Top Five Reasons That Creativity is the Key to Economic Survival
1. TBS will air both men’s basketball Final Four semifinal games in 2014 and 2015, marking the first time the games will be televised on cable. Beginning in 2016, TBS and CBS will alternate full coverage of the Final Four through the end of their joint rights deal in 2024.
2. The Anaheim Ducks next year will host a regular season game against the Los Angeles Kings at Dodger Stadium. The game is part of the NHL’s new outdoor “Stadium Series” that will begin next season. Dodger Stadium will use a special refrigeration system to protect the ice from warm weather.
3. Rory McIlroy is being particularly selective when it comes to new endorsement opportunities, saying he will not partner with an alcohol brand. Although McIlroy has space on his bag for a new sponsor, he says he has no room for endorsement-related appearances without affecting his practice schedule.
4. Four developers have submitted bids to redevelop Nassau Coliseum after the New York Islanders move to the Barclays Center in 2015. The most noteworthy plan comes from Barclays Center developer Bruce Ratner, who proposes a $230 million project that includes a 13,000-seat arena.
5. San Francisco 49ers QB Colin Kaepernick has signed an endorsement deal with Jaguar. Kaepernick will help the company launch their new F-TYPE V8 S car. In addition to Jaguar, Kaepernick also recently signed endorsement deals with MoGo Sport and MusclePharm.