The SBD/SBJ editorial staff compiled the top sports business stories of '16, in no particular order. Today, we present our final five.
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ABC drew record television numbers for the
Cavaliers-Warriors series |
CLEVELAND CELEBRATES: The Cavaliers beat the Warriors and the city of Cleveland celebrated like it was 1964. That is how long it had been since a Cleveland team had won a championship, and the Cavs did so in dramatic fashion, overcoming a 3-1 series deficit. The thrilling seven-game NBA Finals rematch caught the nation’s attention, drew record viewership on ABC and cemented LeBron James’ superstar legacy.
NHL BETS ON VEGAS: The NHL will be the first major pro league to roll the dice on the Las Vegas market, approving Fidelity National Financial Chair Bill Foley’s expansion bid -- and $500M expansion fee -- in June. With other leagues and teams rumored to be interested in the city, many eyes will be on the Golden Knights when they hit the ice in the ‘17-18 season.
E-SPORTS IN THE SPOTLIGHT: To many industry observers, ‘16 was the year e-sports finally hit the mainstream, and there was no more prominent new entry into the burgeoning space than the ELeague. A partnership between Turner Sports and WME-IMG, the new venture featured primetime national TV broadcasts on TBS, sponsorships from major consumer brands, and live streaming of competitions on Twitter and Twitch. Initial TV ratings were not stellar but served to support what remains a digitally native sport and reached young male audiences in largely unrivaled ways.
A KNOCKOUT DEAL: WME-IMG’s $4B purchase of the UFC sent jaws dropping and raised the question of how the company will justify the price. Late in the year, part of that question was answered. WME-IMG told networks it wants $450M a year for the UFC’s media rights, nearly four times the amount the UFC now receives. Will networks pay up?
RATINGS TAKE A HIT: The NFL’s primetime packages are down double digits. So were the Summer Games. MLB’s premier “Sunday Night Baseball” package posted its lowest viewership numbers in at least a decade. While some sports programming drew impressive TV audiences (thanks Cubs; thanks LeBron), many more under-delivered. Did the overheated presidential election siphon off the viewers? Or is cord cutting starting to take hold? Everybody’s looking to see what ‘17 brings to determine the answers to those questions.
