SBJ: NASCAR asks $1B, 10 years SBD: Nike Signs Mariota To Endorsement Deal SBG: Man City Waits On Outcome Of FFP Case SBD: MLB Considers Partial MLBAM Spin-Off SBG: Chelsea Signs $308M Deal With Yokohama SBJ: Goldman to bankroll Chargers’ move SBD: ESPN Pays Tribute To Retiring Vince Doria SBD: Executive Transactions SBD: Executive Transactions SBD: Olbermann's Tweets Lead To Suspension
May 2, 2014 10:42 AM
Nationwide Insurance has signed a multi-year sponsorship agreement to become a primary sponsor of Dale Earnhardt Jr.’s No. 88 car for 12 races beginning next year.
The three-year deal, which increases to 13 races in 2016 and 2017, closes out all of the open inventory on Earnhardt’s car. It is valued at more than $10 million a year.
Nationwide Insurance has endorsed Earnhardt since 2009 and has featured him in national advertising campaigns during the last five years. The deal with Hendrick Motorsports allows the Columbus-based insurance company to continue to use Earnhardt in advertising while also being featured on his car in Sprint Cup races for the next three years.
It is unclear whether Nationwide Insurance will continue to sponsor Roush-Fenway Racing’s No. 17 car driven by Ricky Stenhouse Jr.
Nationwide Insurance could not be reached for comment. Hendrick Motorsports declined to comment.
In a rarity, Nationwide will join a current insurance sponsor already aligned with the team. Sources said Hendrick Motorsports is close to finalizing an extension with Farmers Insurance on the No. 5 driven by Kasey Kahne. The company is expected to reduce the number of primary races it currently sponsors from 20 races a season.
The deals underscore the strength of Hendrick Motorsports, the most decorated team in the sport, and could set a precedent in the sport. NASCAR teams typically offer sponsors category exclusivity across an entire team. As a result, most teams only have one sponsor in most categories, but Hendrick Motorsports is expected to have two insurers, Nationwide and Farmers, in the same garage. If Hendrick Motorsports is successfully able to service both sponsors, other teams could look to follow suit.
“The quality of the [Hendrick] team, the iconic nature of their drivers and the fact that they deliver means that they can do this,” said Mike Boykin, a former executive with GMR Marketing. “For other teams to do this, it would depend on what the assets are and who the drivers are. But when you get two big brands staying in the sport, that’s a real good thing for NASCAR.”
Wasserman Media Group works with Nationwide. JMI works with Farmers.
April 30, 2014 03:19 PM
NBA Commissioner Adam Silver’s punishment issued to Clippers Owner Donald Sterling for racially insensitive comments have drawn mostly praise. ESPN's Mike Tirico said, "Knowing that leadership is lonely, he did one a heck of a job in being able to speak with some owners and gauge their interest level in this enough to say, 'You're banned for life'" ("OTL," ESPN, 4/29). Actor Matt Damon: “A lot of us are really excited to get (Sterling) out of the NBA" ("Worldwide Exchange," CNBC, 4/29). Clippers broadcaster Ralph Lawler: "The cloud was lifted from the players' heads, the fans' heads. You see a ray of sunshine. You see some blue sky. You think, ‘Hey, there’s hope’” (“Clippers Live Pregame,” FS Prime Ticket, 4/29) TNT’s Shaquille O’Neal: “There’s no room for the mistakes that Mr. Sterling made and I’m just glad that Adam Silver is around protecting our league” (“Inside The NBA,” TNT, 4/30).. TNT’s Steve Kerr said, “It was a great reminder of the fact that sports and basketball actually break down barriers. That’s the beauty of sports beyond the entertainment and the competition. You think about what it does bringing people together from all races and backgrounds and that’s what the NBA is all about” (“Wizards-Bulls,” TNT, 4/29).
NOT ALL POSITIVE: ESPN's J.A. Adande said the NBA in the past by "allowing Donald Sterling to fester and allowing him to get away with what he did encouraged him, empowered him and led to this moment now where because that problem wasn't removed earlier the NBA found itself in this position today, but I think they dealt with it in the perfect manner” ("Around The Horn," ESPN, 4/29). ESPN's LZ Granderson: "For Adam Silver to try and characterize this as, 'Well, this is what we know of right now.' No, the NBA and many of those owners knew this man. They knew him, they're just embarrassed because now it's a lot more public … but this is not news" ("OTL," ESPN2, 4/29).
SILVER LINING: San Jose Mercury News’ Tim Kawakami said of Silver’s announcement, “I’m not surprised by the force of it; maybe the emotion of it I think is what hit everybody" (“Yahoo Sports Talk Live,” CSN Bay Area, 4/29). NBA TV’s Brent Barry, on the Clippers possibly being sold: "It might set precedent in terms of how quickly a new ownership group actually takes over a franchise in the league” (NBA TV, 4/29).
LAYNG DOWN THE LAW: FS1’s Andy Roddick: “(Silver) won today in the court of public opinion, but beating Sterling in an actual court of law, that’s a different question” (“Fox Sports Live,” FS1, 4/29). ESPN's Tony Kornheiser said of possible litigation, "If the franchise is devalued while this is going on, that's not good for the league. Does the league put someone in there (to operate the team)?" ("PTI," ESPN, 4/29). ESPN’s Mike Golic, on the eventual owners’ vote to strip Sterling’s ownership of the Clippers: “I don’t care how private they make it. You know it will get public somehow and you want to be that three, four, five owners that voted to keep him? How is that going to work with your sponsorships when that comes out? There’s no way this isn’t going to be twenty-nine to zip” (“Mike & Mike,” ESPN Radio, 4/30).
April 30, 2014 09:05 AM
■ Ted Leonsis prepares to hire his first general manager in 15 years of owning the Washington Capitals.
■ Ron Francis being promoted to GM of the Carolina Hurricanes.
■ The Calgary Flames finally hire their GM.
■ The latest on the New York Islanders' ownership situation.
■ And what are the NHL's options should the league ever be faced with a Donald Sterling-type of scandal?
April 29, 2014 06:10 PM
According to the NBA, it will take a vote of three-quarters of the league's owners to force a sale of the Los Angeles Clippers by owner Donald Sterling.
But will 23 owners be willing to take that kind of stand against a fellow owner?
If you look at Twitter for hints on what owners owners are thinking, then 25 of them (so far) have already indicated support of the punishment handed out today by Commissioner Adam Silver, either on their personal feed or on the team's official account. That doesn't mean they'll follow through with a vote against Sterling, but it's interesting to watch.
Here are the tweets:
I agree 100% with Commissioner Silvers findings and the actions taken against Donald Sterling— Mark Cuban (@mcuban) April 29, 2014
Great job Adam.The @NBA is in good hands. You have my full support.— Micky Arison (@MickyArison) April 29, 2014
I completely support NBA Commissioner Adam Silver’s decisive action on the Sterling issue. Great leadership and the league is in good hands.— Paul Allen (@PaulGAllen) April 29, 2014
The Miller family supports the action by Commissioner Silver and the NBA. There is no place for racism and hatred in our league.— Greg Miller (@GregInUtah) April 29, 2014
Commissioner Silver has made the right moves in response to this unfortunate absurd spectacle. #ZeroTolerance— Dan Gilbert (@cavsdan) April 29, 2014
Bravo Adam Silver!— Steve Kaplan (@Stephen_Kaplan) April 29, 2014
Managing Owner Josh Harris: "The Philadelphia 76ers completely support NBA Commissioner Adam Silver." Statement: http://t.co/cjHe1EvVDY— Philadelphia 76ers (@Sixers) April 29, 2014
OFFICIAL: Statement from Suns Managing Partner Robert Sarver. pic.twitter.com/rLksFDrYx9— Phoenix Suns (@Suns) April 29, 2014
Statement from Milwaukee Bucks owner Herb Kohl: http://t.co/JJENF1trSN— Milwaukee Bucks (@Bucks) April 29, 2014
Team ownership has released the following statement regarding Commissioner Adam Silver's decision: http://t.co/BSzF9kEFpz— Boston Celtics (@celtics) April 29, 2014
Statement from #Pelicans owner Tom Benson regarding Commissioner Silver's decision:— New Orleans Pelicans (@PelicansNBA) April 29, 2014
“In light of the serious matter facing our league, a matter that transcends sports, the New Orleans Pelicans fully support the decisions..."— New Orleans Pelicans (@PelicansNBA) April 29, 2014
"...made today by NBA Commissioner Adam Silver and will fully support his recommendations moving forward.”— New Orleans Pelicans (@PelicansNBA) April 29, 2014
Statement from Chicago Bulls & White Sox Chairman Jerry Reinsdorf and Chicago Bulls President & COO Michael Reinsdorf http://t.co/arjcH9VtsA— Chicago Bulls (@chicagobulls) April 29, 2014
Statement from MLSE regarding comments from Donald Sterling and action taken by NBA Commissioner Adam Silver: http://t.co/6mLg9ZAUJO— Toronto Raptors (@Raptors) April 29, 2014
2/3) Joe Lacob Statement: http://t.co/6hWgoUwNZs "We applaud the firm punishment handed out today by NBA Commissioner Adam Silver."— Golden St. Warriors (@warriors) April 29, 2014
News: Statement from Thunder Chairman Clayton I. Bennett on today's actions by NBA Commissioner Adam Silver. http://t.co/JtK7UrbCZC— OKC THUNDER (@okcthunder) April 29, 2014
Statement by the Brooklyn Nets Regarding Commissioner Silver’s Decision http://t.co/ILSpHDMd2j— Brooklyn Nets (@BrooklynNets) April 29, 2014
Owner Tom Gores: "I am proud of Adam Silver for providing the leadership and strength necessary in this situation. He has my full support."— Detroit Pistons (@DetroitPistons) April 29, 2014
Pacers owner Herb Simon's statement on today's announcement from NBA Commissioner Adam Silver: pic.twitter.com/0w3VbtubJu— Indiana Pacers (@Pacers) April 29, 2014
April 28, 2014 09:00 AM
April 25, 2014 09:35 AM
Financial document outlines Isles’ offer
The New York Islanders this week released an offering memorandum for majority ownership to potential bidders for the team, according to a source in the finance industry.
In the memo, Islanders owner Charles Wang offers 75 percent ownership of the club, with a five-year option on the other 25 percent. The memo also states that the Islanders sustained an operating loss during the 2013-14 season of $4.8 million, with the loss minimized greatly by $15 million received from NHL revenue sharing and escrow payments.
According to the memo, total revenue for the Islanders in the just-completed season was $84 million. That included $22 million in ticket revenue. The Islanders played 40 home games at Nassau Veterans Memorial Coliseum and one game (as part of the NHL’s Coors Light Stadium Series) as the home team at Yankee Stadium against the New York Rangers.
The value placed on the team in the memo: $370 million.
The memorandum was released by the team on behalf of Wang, who has yet to utilize the services of a bank or financial consultants in the ongoing sales talks. Wang’s finances are handled by Islanders alternate governor Arthur McCarthy, who has been an executive with the club since 1985. McCarthy is the chief financial officer of technology company NeuLion, for which Wang is chairman of the board.
On Wednesday, NHL Commissioner Gary Bettman confirmed what has been reported in this space over the last two weeks: Although Wang is soliciting and listening to offers for the Islanders, he may not be ready to say goodbye to the team.
Wang acquired the Islanders in 2000.
“Charles hasn’t decided whether or not he’s definitely going to sell,” Bettman said on WFAN-AM/New York on Wednesday. “He’s very attached to the Islanders. I don’t think there’s any doubt about that. He’s looking forward to the move to Barclays.”
The Islanders begin play at the Barclays Center in Brooklyn in the 2015-16 season.
In earlier discussions with prospective buyers, before the offering memorandum was released, Wang was offering between 30 percent and 49 percent of the team at the start, with Wang remaining the Islanders’ majority owner for at least the next two seasons.
Philadelphia hedge fund manager Andrew Barroway is the lone suitor whose name has been made public. A league source said a finalized deal between Barroway and Wang “is not close,” and that Barroway “does not have a leg up on anyone else interested in buying the Islanders.” Barroway has been in search of partners to help him fund the purchase.
As reported in The Shift last Friday, there are at least two additional suitors for the Islanders, besides Barroway. Strike one name from that list, though: Brooklyn-born billionaire Nelson Peltz.
Peltz, CEO of asset management firm Trian Partners, has been linked to bids for the New Jersey Devils and Ottawa Senators in the past, and the 71-year-old Peltz is a hockey advocate: He once described after-school life for his children as “gym, ice and homework,” and he has a rink inside his Bedford, N.Y., home. His son, Brad, also was drafted by the Ottawa Senators in the seventh round of the 2009 NHL draft.
However, a source close to Peltz told The Shift on Thursday that he has “no interest” in bidding for the Islanders.
SportsBusiness Journal staff writer Daniel Kaplan contributed to this report.
BY THE NUMBERS
More than $3 million(CAN): Gross revenue, according to an NHL source, for each of two first-round playoff home games of the Montreal Canadiens, who swept the Lightning in four games. That figure will be even higher in the second round, with higher ticket prices.
3.8 million viewers: The average combined TV audience in Canada for each of the four games of the Canadiens-Lightning series. The games averaged 2.3 million viewers on CBC and 1.5 million viewers on RDS.
31 of 31: Sold-out first-round playoff games, through Thursday night.
$378: The most-expensive ticket available on the secondary market for an NHL playoff game this weekend, for Game 5 of the Rangers-Flyers series at Madison Square Garden on Sunday afternoon, according to ticket price aggregator TiqIQ.
$148: The least-expensive ticket available, for Game 5 of the Ducks-Stars series at the Honda Center tonight.
500,000: The number of entries submitted by fans on NHL.com for the Stanley Cup Playoffs Bracket Challenge powered by Can-Am. The grand prize is a choice of a 2014 Can-Am Spyder RS or $15,000. Among those submitting brackets were celebrity hockey fans Jon Hamm, Alyssa Milano, Martina McBride, Pat Sajak and Boomer Esiason.
205: Consecutive home games sold out by the San Jose Sharks, through Game 2 of their first-round playoff matchup with the Kings. In last Friday’s post, we listed seven NHL teams with sellout streaks of more than 100 combined regular-season and playoff games. Turns out, there is an eighth: San Jose. We apologize to the Sharks.
April 25, 2014 08:40 AM
A group of four construction firms calling itself American Builders is competing for the job to build the Atlanta Braves’ new ballpark, and it’s tapping into the loyalties of Cobb County officials.
The group produced a promotional piece that says it has built a combined 335 sports projects, including 51 facilities tied to Populous, the Braves’ architect. All told, the American Builders group says its projects in Atlanta, including sports, are valued at $8.6 billion.
But what’s most interesting is that the piece says that 150 employees across the four firms live in Cobb County, where the Braves have decided to build their $672 million stadium, on a site 12 miles north of Turner Field. The team’s research shows most of its fans reside in Cobb County.
A passage in the American Builders material reads: “This is our home. Beyond working here, it is where our children go to school, our families attend church, shop and dine.”
The piece, printed in red, white and blue, says the team combines 225 years of construction experience as “privately-owned American firms.”
Len Moser, Barton Malow’s Atlanta-based vice president, said this about his group’s name: “Our American Builders 2017 team is proud to be American-owned builders, just like the Atlanta Braves are American-owned and often referred to as America’s Team.”
American Builders’ competition for the project includes Sweden-based Skanska, a construction firm partnering with Clark Construction for the Braves’ job. Skanska in 1994 acquired Beers Construction Co., a firm that built Turner Field and the Georgia Dome.
April 23, 2014 10:26 AM
■ Assessing NBC's coverage of the playoffs thus far.
■ The Columbus Blue Jackets' effort to hold down their building against Pittsburgh Penguins fans and whether it was succesful.
■ An update on the New York Islanders being on the block and who might be interested in making a bid, as well as who's not interested.
■ And the resurgence of the Dallas Stars under owner Tom Gaglardi.
To listen to the inaugural "NHL Wrap-Around Podcast," click here.
April 22, 2014 03:47 PM
ESPN's Bomani Jones said of comments made by Raptors GM Masai Ujiri, "People in Brooklyn I'm not sure how much they care about the Nets, let alone caring about what the dude in Toronto has to say" ("Around The Horn," ESPN, 4/21).
THINKING IT THROUGH: CSNBAYAREA.com's Ray Ratto said of the Warriors’ new arena plans, “Why they didn't have this in mind before rather than wasting basically two years sort of punching desperately against this huge Jello bag of resistance and waiting for (S.F. Mayor) Ed Lee to carry their weight for them, that's on the Warriors" ("Yahoo Sports Talk Live," CSN Bay Area, 4/21).
OH, MICKY: Heat Owner Micky Arison, on reports Donald Trump might acquire the Bills, "As long as it's football I have no problem" ("The Dan Le Batard Show," WAXY-FM, 4/21).
TEST OF TIME: NCAA President Mark Emmert said of UConn G Shabazz Napier's comments about starving in school and the NCAA now allowing unlimited food to athletes, "I know people would like to believe that there was some kind of a causal link between his comments and the change in that policy being done this last week. But the reality is, unfortunately, it takes a long, long time to get legislation passed through the membership and the changes in food policy had been in the works for over a year" ("The Dan Patrick Show," 4/21).
April 21, 2014 03:40 PM
Universal Sports’ Paul Sunderland said of the atmosphere before the start of the Boston Marathon, “Even here on Boylston Street, you talk about the energy and it being, it’s in you, it’s on you, it’s palpable. I've tried to come up with a better word, but I can’t. Everybody is very, very excited indeed” (“2014 Boston Marathon Pre-Race Show,” Universal Sports, 4/21). Meanwhile, Red Sox President & CEO Larry Lucchino said of the team’s role following the ’13 Boston Marathon, “We did ask David Ortiz to go out and say a few words last year after the bombing suspects were stopped and arrested, but other than that there was a real maturity on the part of our players, a real sincere sense of compassion. They organized themselves. There were days when our players went off to visit survivors and they did it on their own nickel” (“Mike & Mike,” ESPN Radio, 4/21).
HUNGRY? N.Y. Daily News columnist Mike Lupica said, "Amazing isn’t it that (UConn G) Shabazz Napier announced that he was hungry the night UConn won the national championship and all of a sudden the NCAA was practically dialing up Domino's and announcing free pizzas for everyone. It was like a Christmas miracle" ("The Sports Reporters," ESPN, 4/20).
IT’S GOTTA BE THE SHOES: Sterne Agee research Analyst & Managing Dir Sam Poser said of Nike getting out of the wearable hardware market, "I think they realized that they're better at making shoes and they've talked about possibly doing some of the software, they're still going to do Nike Plus” ("Squawk on the Street," CNBC, 4/21).
KOHL’S HARD CASH: Detroit Free Press' Mitch Albom said of the Bucks being sold, "Whoever said 'fools and their money are soon parted' never tried to own an NBA team. The terrible Milwaukee Bucks just sold for more than half a billion dollars" ("The Sports Reporters," ESPN, 4/20).
FLYING HIGH: Hawks CEO Steve Koonin said, "The NBA is a growth sport. NBA is a global sport, it is being played at a very high level and in major cities around the world. The TV ratings are great, the attendance is great, the virtual consumption through video games, through jerseys and it's making its way around the world with increasingly more international players. So I looked at this as an opportunity to move to a real big growth industry" ("Worldwide Exchange," CNBC, 4/21).