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Winners and Losers--June 28, 2013


By Rick Horrow and Karla Swatek

June 28, 2013

NHL

Winner: The NHL expects revenue to increase $1 billion over the next three years, citing strong attendance and more outdoor games as the primary reasons for the growth. The NHL generated $3.2 billion during the 2011-12 fiscal year, it’s last full season.

Loser: Massive flooding in Calgary this past weekend caused significant damage to the Scotiabank Saddledome, home of the NHL Flames. Flood waters reportedly reached as high as the ninth row of the event level, causing dressing rooms, the video control room, and Zambonis to be destroyed.

What it means: The Flames don’t yet know how much the damage will cost to repair, but it’s going to be in the millions and it might not be complete by the start of the NHL season. The lockout derailed the team’s initial plans to build a new arena, but the extensive damage to the Saddledome should make the issue resurface rather quickly.

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MLB

Winner: The MLBPA has certified Jay-Z and two other Roc Nation Sports agents to represent baseball players in negotiations with MLB teams. The MLBPA is the second union to certify Jay-Z, following the NBPA last week. New York Yankees 2B Robinson Cano was the first athlete to sign with Roc Nation.

Loser: San Jose’s lawsuit against MLB to relocate the Oakland A’s could cause issues for the league down the road in regard to territorial rights. If the suit goes to trial, it could threaten MLB’s antitrust exemption, which protects the league from federal regulation.

What it means: If San Jose wins at trial, MLB team territorial rights, such as the ones the Giants have to San Jose, lose most of their legitimacy. At that point, almost nothing could stop a third team from moving to either New York or Los Angeles, for example. However, a court ruling would let MLB avoid having to make its own decision on the A’s move, something its put off for more than four years.

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Auto Racing

Winner: International Speedway Corporation officially approved a $375-400 million renovation to the iconic Daytona International Speedway. The project, which is being called “Daytona Rising: Reimagining an American Icon,” will begin construction on July 8, with a scheduled completion date of January 1, 2016.

Loser: IndyCar is struggling to find a presenting sponsor that could ultimately replace title sponsor Izod, which would like to exit its deal early despite having two years left on their contract. IndyCar ratings are down on both broadcast and cable this year, and Izod has stopped advertising during races on NBCSN.

What it means: The Daytona project will include expanding the track’s grandstand, widening the concourses, and adding concession stands and elevators. In addition to the renovations, ISC is planning to develop a multi-use retail and entertainment complex in the areas around the track.

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NFL

Winner: 2014 Super Bowl tickets are expected to sell for an all-time high thanks to the added demand and novelty of playing the game in the New York area. The NFL currently is working on establishing face value prices, which likely will be greater than the $1,250 maximum for this year’s game in New Orleans.

Loser: A judge last week ruled that the Pittsburgh Steelers haven’t proven a proposed Heinz Field expansion meets the requirements to be considered a capital improvement. If the Steelers can’t prove the renovation is an improvement, as opposed to a modification, they won’t be able to get to Pittsburgh-Alleghany County to cover a majority of the project’s cost.

What it means: The judge’s ruling in the Steelers dispute wasn’t binding, and the issue likely will go to trial. However, the odds are stacked against the team. If they are able to convince a jury that the project is a capital improvement, the county is responsible for $40 million of the $60 million price tag.

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Soccer

Winner: Adidas and EPL club Chelsea have agreed to a 10-year extension of their kit deal worth $450 million. At $45 million annually, the deal is by far the most lucrative partnership in the Chelsea’s history, topping the $28 million per year the club receives from its jersey sponsorship with Samsung.

Loser: FIFA is considering scrapping plans to televise next year’s World Cup in 3-D, citing ESPN’s recent decision to drop its 3-D channel. Since the 2010 World Cup was broadcast in 3-D, only 6% of TVs in the U.S. have adopted the technology.

What it means: ESPN’s decision to drop its 3-D channel is a pretty strong indictment of the technology’s failure. While there’s interest from several World Cup broadcasters to retain a 3-D feed, the audience size likely won’t warrant the cost of production.




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