White Sox To Launch Subsidiary Company Silver Chalice Ventures
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Boyer Says SCV A Way To
Increase Revenue For White Sox |
The White Sox next week are expected to formally announce an ancillary business unit called Silver Chalice Ventures (SCV), "making them the latest MLB club to create an outside company to supplement the team's core operations," according to Eric Fisher of SPORTSBUSINESS JOURNAL. Similar to companies formed by the Red Sox, MLB Giants and Rays, SCV will "operate separately from the White Sox and U.S. Cellular Field." But SCV will be a "wholly owned subsidiary of the White Sox led by" White Sox VP & CMO Brooks Boyer, and it "represents an additional revenue stream for the club that is not subject to MLB revenue sharing." SCV is "primarily seeking to forge a niche in online and mobile media, with Silver Chalice New Media representing, for now, the lone operating unit within" the company. SCV has "quietly been performing work" for the Bulls; XOS Technologies; mobile entertainment hub mSpot.com; and Web distribution platform MyContent.com, "among others, since January." Fisher notes among others joining SCV are former Intersport Digital Media President Jason Coyle as COO and former Sprint VP/Wireless Data Services John Burris as Silver Chalice New Media President. Working for them is a "small group of other employees split between offices in Chicago and Boulder, Colo., where Burris is based." Boyer said the White Sox' goal with SCV is to "build businesses." Boyer: "Consulting work is great, and it’s part of the strategy, but we’re definitely about building successful long-term businesses and, where appropriate, taking part in that on an equity level" (SPORTSBUSINESS JOURNAL, 10/26 issue). Boyer added that SCV is "all about creating additional revenue for the team." Boyer: "Our ultimate challenge these days is to grow revenues. This is one way to accomplish it. The revenue we earn is going to back to the team." Boyer said that SCV also "will consider other ventures besides digital platforms if it has 'the right people in place'" (CHICAGOBUSINESS.com, 10/22).
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