Tuesday, March 28, 2023

NCAA Dishes Out $625M to Schools – Front Office Sports

Front Office Sports

AC Milan plans to sell a replica Andriy Shevchenko jersey that features the Ukrainian flag. The Ukrainian — a Milan legend — scored the decisive penalty goal to win Milan the 2003 Champions League Final. All proceeds from the jersey sales will be donated to the Italian Red Cross in Ukraine.

Ncaa Dishes Out $625M To Schools - Front Office Sports

Bob Donnan-USA TODAY /Design: Alex Brooks

Every year, the NCAA distributes about 60% of its total revenue — most of which comes from the Division I men’s basketball tournament — to DI schools and conferences.

This year, the NCAA will pay out more than it ever has to DI schools. The governing body has allocated $625.5 millionaccording to the 2022 NCAA Division I revenue distribution plan.

  • Last year, the NCAA distributed $613.4 million — back up from the $246.3 million it sent to schools after the 2020 men’s tournament was canceled due to the pandemic.
  • But by 2032, the NCAA has been budgeted for $826.6 million worth of distributions, documents show.

The increase follows a steady growth in payouts for media rights for the men’s tournament. This year, the rights will pay out about $870 million, per the NCAA’s 2021 annual fiscal report. They’ll reach about $1 billion by 2026,

March Money

The distribution system is based on a number of factors, including men’s March Madness. Of this year’s allocations, about $233.7 million — or 37% — are related to eligibility, participation, and success in the Big Dance.

There is, however, no such system to reward prowess in the women’s tournament — a major equity flaw recognized by the 2021 NCAA gender equity report.

Ncaa Dishes Out $625M To Schools - Front Office Sports

Ron Chenoy-USA TODAY Sports/Design: Alex Brooks

The NFL is requiring that bids for the Denver Broncos be fully capitalized to restrict buyers from raising money after an offer has already been made.

The club announced it was for sale on Feb. 1.

The league is looking to prevent a similar situation to the 2018 sale of the Carolina Pantherswhich received investor-heavy offers from businessmen Ben Navarro and Alan Kestenbaum, but was only completed after billionaire David Tepper stepped up with a winning bid of $2.2 billion,

  • The Broncos are expected to sell for a record price between $3.5 billion and $4 billion,
  • The NFL will allow $1 billion of acquisition debt.

Currently, the Broncos are owned by the Pat Bowlen Trust, and its trustees have a fiduciary duty to get the most money possible from the sale, which must be approved by the NFL to be finalized.

Potential Buyers

BuyTheBroncosa decentralized autonomous organization (DAO), is looking to raise over $4 billion to purchase the team. However, the DAO faces an uphill battle, as NFL bylaws require every ownership group to have a principal owner with a 30% stake and caps groups at 24 people.

Prospective minority owners Byron Allen and venture capitalist Robert Smith have expressed interest, along with a group that includes Peyton Manning and John Elway, Philadelphia 76ers and New Jersey Devils co-owner Josh Harris and Amazon founder Jeff Bezos could also bid.

Ncaa Dishes Out $625M To Schools - Front Office Sports

The total number of golfers worldwide has reached 66.6 million — up from 61 million five years ago — and the game shows no signs of slowing down as it gains popularity with women.

No segment has seen as much growth since the pandemic began in March 2020 than female golfers, according to the National Golf Foundation.

  • The percentage of women on courses hit 25% in 2021, up from 19% 10 years ago.
  • In 2021, girls made up 35%or 1.1 million, of junior golfers compared to 15% in 2000.
  • More than a quarter of girl golfers are non-Caucasian, up from just 6% 20 years ago.

Golf’s growing popularity among women is partly due to the emergence of entertainment venues such as Topgolfwhere women now account for roughly 45% of all off-course golfers. Women’s organizations such as For the Ladies Inc. have also stepped in to help golf gain traction with emerging demographics.

Great for Business

Callaway Golf generated a quarterly record $712 million in revenue in Q4 2021, a 90% increase compared to the same period the year prior. Full-year revenue reached $3.1 billiona 97% increase compared to FY2020.

The PGA Tour Superstore — owned by Atlanta Falcons owner Arthur Blank — reported record sales growth in fiscal 2021. The golf industry’s largest retailer saw its sales jump 21% in October 2021 and 19% a month later.

Ncaa Dishes Out $625M To Schools - Front Office Sports

Major League Rugby/Design: Alex Brooks

Amanda Windsor White is president of a team in one of the US’s most established sports cities, but she still has to build an audience for Rugby ATL from scratch.

“I’ve lived in Atlanta for 15 years,” she told Front Office Sports. “I’m a sports fan. I keep a pulse on all the things happening in the city.” And yet, had it not been for a friend connected to the team’s former ownership group, “I would not have known there was a rugby team.”

Though operating with a fraction of the budget of the larger sports leagues and launching only four years ago, Major League Rugby has already gained a foothold.

  • The league has collectively attracted over $100 million in investments, according to White.
  • The annual average cost of operating a franchise is between $4 million and $6 million, Some of the 13 teams have already broken even.
  • The expansion fee for a new team is $10 million,

The league’s best-attended game last year came when Rugby ATL visited the LA Giltinis in front of a crowd of 7,389. Most teams’ stadiums have a capacity under 5,000.

Growing the Community

White, the first woman president in the league (and Rugby ATL’s only full-time employee), values ​​the unique perspective she brings to the sport.

“I don’t see it as the challenge of being a woman,” she said. “I just want to take a different approach than everybody else has.”

Specifically, White sees a need to reach out beyond rugby’s core audience, noting the sport has been “insular” so far.

“It’s going to take people with outside thinking and more diverse backgrounds to speak to a different audience and take a different approach.”

  • Major League Soccer has taken out a $25 million loan from a syndicate of eight Black banks, creating Tier 1 capital — the interest and fees will be paid in advance. In turn, the banks can offer more loans to economically disadvantaged neighborhoods.
  • Carlyle Group has entered an agreement to purchase Dainese SpA, an Italian motorcycling clothing brand, from Investcorp International for $691 million.
  • Discovery shareholders have approved the company’s $43 billion merger with WarnerMedia.
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