Morning Buzz, June 24, 2004

AUDIT REVEALS $16M IN MISUSED FUNDS BY BEIJING SPORTS BUREAU

The FINANCIAL TIMES reports that Chinese sports authoritieshave “since 1999 misused [$16M] of government funds earmarked” for the ’08Olympics in Beijing, according to China’sNational Audit Office.  Roughly $13M ofthe funds were used to “build apartment buildings for staff at the GeneralAdministration of Sports, one of the main organizers of the 2008 Beijing Games.  The remaining [$3M] was paid to theadministration’s staff as bonus or given to its affiliated companies asloans.”  The report stated that 41central government bodies “misused all together [$171.5M] of public funds”during ’03 (FINANCIAL TIMES, 6/24).

OUTDOOR APPAREL COMPANY CABELA’S TODAY LAUNCHING IPO

The WALL STREET JOURNAL reports that outdoor apparel firmCabela’s today will launch its IPO, “selling 7.8 million shares at [$15-17]each.”  The company will trade on theNYSE under the CAB ticker symbol.  Afterthe offering, Cabela’s will have 64.8 million outstanding shares.  Shareholders include the Cabela family and JPMorgan Chase’s private-equity arm, JPMorganPartners.  Cabela’s is expected to usethe proceeds to “fund the construction of more stores,” of which it now operatesnine (WALL STREET JOURNAL , 6/24).

AMERICAN PRO CRICKET UNVEILS START-UP LEAGUE WITH EIGHT TEAMS

American Pro Cricket todayannounced an eight-team league, ProCricket, with teams in DC, N.Y.,Chicago, Miami, S.F., Houston, L.A.and Bridgewater,NJ.  The league will feature rulestailored to the U.S.market, including time limits and a version of the designated hitter rule.  The season begins July 2 with 24regular-season matches, and a championship match to be held September 4.  All ProCricket matches will air on a singleTV outlet, to be announced in the future. All regular-season tickets will cost$6.95 (American Pro Cricket).

The N.Y. TIMES reports that Kamal Verma owns the operating rights to all teams, and investorshave “promised cash to sustain the league for three to five years” (N.Y.TIMES, 6/24).

U.S.OLYMPIC GYMNASTIC TRIALS EXPECTED TO NET THE POND $1M

TheU.S. Olympic Gymnastic Trials begin today with men’s preliminaries at ArrowheadPond in Anaheim, and the L.A. TIMES reports that Arrowhead Pond GM Tim Ryan expects the arena “will make‘a small profit’ after seeing ticket sales surpass $1[M],” and estimates theevent will generate $15M locally (L.A.TIMES, 6/24).

NBC will conduct a 1:30pm ET conference call to discuss itscoverage of the trials.  NBC gymnasticsanalysts Tim Daggett and Elfi Schlegel will participate.

PGA TOUR BOOZ ALLEN CLASSIC FOCUSING ON WIVES ANDCHILDREN

The PGA Tour Booz Allen Classic begins today at The TPC atAvenel in Potomac, MD, and the WASHINGTON TIMES reports that Booz Allen ClassicDir of Volunteer & Player Relations KarenBybee, in offering player perks, “set up a schedule that not only includedthe White House tour and Orioles outing, but a trolley tour of Washingtonfeaturing the World War II memorial (yesterday) and a shopping and spa day inGeorgetown.”  Bybee: “Because the event felllater on the calendar this year and kids are out of school, we focused on thewives and children” (WASHINGTONTIMES, 6/24).

THE DAILY GOES ONE-ON-ONE WITH…

Which industry exec lent a hand inthe design of her team’s ballpark, and is the highest-ranking female in an MLBfront office? To find out, read today's Sports Industrialists section of The Daily.

MORNING BRIEFS

ESPN.com reported that Giants LF Barry Bonds has “quietly changed agents again – leaving Scott Boras and returning to theBeverly Hills Sports Council, which had represented him for years until heswitched to Boras just before his last contract” (ESPN.com, 6/23).

McDonald's yesterdayat the Cannes Int'l Advertising Festival announced that its Olympic ads, viaLeo Burnett Worldwide, will feature Ronald McDonald participating in thediving, water ballet, swimming and hammer throw events. McDonald's this summerwill also debut a new Olympic spot with Venus and Serena Williams (McDonald's).

The SEATTLE TIMES reportsthat the “possibility of Seattlebecoming [an MLS] city in 2005 is fading.” A-League Seattle Sounders GM Adrian Hanauer: “Financially,logistically and organizationally, it makes more sense for 2006” (SEATTLETIMES, 6/24). 

The ST. PAUL PIONEER PRESSreports that Wild RW Marian Gaborikis “personally negotiating a deal” with Slovakian hockey club Dukla-Trencin inpreparation for an NHL lockout.  Gaborikwould have to purchase his own insurance, and is seeking an opt-out clause thatwould give him the right to return to the Wild when the lockout ends (ST. PAULPIONEER PRESS, 6/24).

The HARTFORD COURANT reports that NBA Draft prospect Emeka Okafor this week is expected tobe named to the U.S. Olympicmen’s basketball team (HARTFORDCOURANT, 6/24).

Palace Sports & Entertainment President & CEO Tom Wilson last night appeared onCNBC’s “Bullseye,” and said, “Ironically, everybody has a problem with an18-year-old or 19-year-old playing in the NBA. In hockey, we’ve been drafting them for the last 20 years and nobodysays a word” (“Bullseye,” CNBC, 6/23).

MLS announced that its championship match, MLS Cup, will beheld November 14 at The Home Depot Center in Carson, CA (MLS).

USA TODAYreports that Showtime will air Don King’sSeptember 4 card from Mandalay Bay in Las Vegas.  ThoughKing was “seeking about $3[M] for the card, Showtime bought the show for about$600,000” (USATODAY, 6/24).

ATTENDANCE WATCH:

• The AP reports that Tuesday’s crowd of 25,240 at Rosenblatt Stadium was the fifth-largest since the College Baseball World Series moved to Omaha in 1950.  Through ten games, the series has drawn 164,267 (AP, 6/24).

A LIGHTER BUZZ

Devil Rays manager Lou Piniella has agreed to shave hishead and get a bikini wax on FSN’s “BDSSP” if his club makes the playoffs (FSN).

THE BACK PAGES

The Morning Buzz offers today’s back page sportscovers from some of the nation’s major metropolitan tabloids:

N.Y. Post	N.Y. Daily News
Philadelphia Daily News	Newsday

TODAY’S EVENTS

TheNFL-Stanford Program continues at the Stanford Graduate School of Business, andthe INDIANAPOLIS STAR noted that NFL execs are “being taught, among othertopics, intricacies of finance, marketing, personnel and negotiations byStanford professors and other NFL executives.” Colts President Bill Polianwill give a two-hour seminar today on salary cap management.  Other speakers throughout the program includeNFL Commissioner Paul Tagliabue,Broncos Owner Pat Bowlen and NFLSenior Dir of Football Operations GeneWashington (INDIANAPOLIS STAR, 6/23).

ThePROMAX & BDA 2004 conference continues at the N.Y. Hilton & Towers,where N.Y. Times advertising columnist StuartElliott will interview Donald Trump,Viacom Station Group Exec VP & COO DennisSwanson and The NBC Agency President VinceManze as part of “Stuart Elliott Interviews…” at 2:00pm ET.  Also at the conference, Fox Sports TV GroupChair & CEO David Hill willpresent “Sports Promos” at 3:00pm.

AFLCommissioner David Baker willconduct a noon ET conference call to discuss Sunday’s ArenaBowl XVIII.

KerryWood's Fastball Franks are available beginningtoday at local Chicagogrocers including Jewel, Dominick's, and other Chicagoland area retailers.  With each purchase, Vienna Beef will make adonation to Children's Memorial Hospital (Vienna Beef).

MarlinsVP/Marketing Sean Flynn will unveilthe team’s latest advertising campaign, via the Zimmerman Agency, during a3:00pm ET news conference at Pro Player Stadium.

TheWilliam Blair & Co.’s 24^th Annual Growth Stock Conferenceconcludes at the Four Seasons in Chicago,where ISC will make a 9:30am ET presentation.

IN OTHER NEWS….

The HOLLYWOOD REPORTER notes a study conducted byInsightExpress and MediaPost found that the digital video recorder “might actuallybe beneficial to the TV and advertising industries.”  DVR users were found to watch TV 24% moreeach week, and only 33% of DVR users said that they “rarely or ever notice thebrands being advertised.”  Sixty-fivepercent always or sometimes notice them. Approximately 55% of DVR users have “found themselves rewinding orpausing a TV commercial in order to better understand the advertised product” (HOLLYWOODREPORTER, 6/24).

The WALL STREET JOURNAL reports that News Corp.’s plan to“relocate its corporate domicile to the U.S. could face more intense oppositionfrom Australian shareholders after word yesterday that the media giant would bedropped from Australia’s main stock indexes if it makes the switch” (WALLSTREET JOURNAL, 6/24).

FINAL JEOPARDY!

Last night's "Final Jeopardy!" category was"Famous Americans." 

"In 1826, DanielWebster eulogized these two men, saying, 'They took their flight togetherto the world of spirits.'" 

LAUGH TRACK

THEMONOLOGUES:

CBS' David Letterman: "A sure sign ofsummer in New York City.  Outside St. Patrick's Cathedral, I saw a nunrolling a cold can of beer across her forehead. ... Here in New York City, ticket prices to go see amovie are $12.  Doesn't that juststink?  That's the great thing about thisshow.  You get disappointed for free.  I was thinking about this.  Why are motion picture tickets so high andI'll tell you why.  It costs the theatersmore now to make their floors sticky. ... Presidential candidate Ralph Nader last week announced hisvice presidential candidate.  In arelated story, a tree fell in a forest and no one was there to hear it. ... Mymom thought this would be a great idea, so she goes to Barnes & Noble, andshe waits in line at a Bill Clintonbook signing, and she finally gets to meet President Clinton and she says tohim, 'How are Rosalyn and Amy?' ... There's a lot of pressure onhim and his whole schedule has been running late.  As a matter of fact, he was running so farbehind yesterday he had to cancel his 3:00 intern" ("Late Show," CBS, 6/23).

NBC'sJay Leno: "It's only been out aday, and Bill Clinton's book is rated number one on the New York Timesbest-seller list.  The book is called 'MyLife As A Dog.'  Actually, 'My Life' wasnot the original title of the book, did you know that?  The original title did not test well withfocus groups so they changed it.  Theoriginal title of the book was, 'First You Weigh 'em, Then You Lay 'em.' ... ANorthwest Airlines flight landed at the wrong airport in South Dakota this week.  PresidentBush said today he had a similar experience.  He was flying to the National Guard facilityin Alabama and the plane landed in Hawaii. ... In the newmovie 'Alexander the Great,' ColinFarrell plays Alexander as a bisexual. Half the time he's Alexander the Great, the other half he's Alexanderthe Fabulous" ("The TonightShow," NBC, 6/23).

LATENIGHT LAUGHS:

Last night's Top Ten list was "Top Ten Things OverheardIn Line At The Clinton Book Signing" ("LateShow," CBS, 6/23).

CBS’ Craig Kilborn: “My new lady friend, I’ll be honest with you, she’s very, very dirty,she’s very kinky. Last night we were in bed and she demanded I read to her fromthe new Clintonbook. …. Our old friend, she’s done the show so many times, Jessica Simpson, rushed to the hospital with a kidney infection. They said she was soout of it, she was coherent and mumbling things that made sense. She went tothe hospital, and after putting her clothes back on, Jessica thanked the doctor,and he said, ‘Hey, I’m just some guy in the waiting room.’ … Early reviews forthe new Michael Moore film are in. It got two thumbs up from Ebert and Saddam” (“TheLate, Late Show,” CBS, 6/23).

LAST NIGHT’S TV MONITOR

FINAL JEOPARDY ANSWER

"Who were ThomasJefferson and John Adams?"

If you haveany questions, comments or suggestions, please let us know at:
dailyinsider@sportsbusinessdaily.com

TheMorning Buzz provides an early update of the news and headlines each Mondaythrough Friday at approximately 9:00am ET. If you would like to sign up for ane-mail alert to the Morning Buzz, go to My Account and personalize your e-mail alert options.