Formula E CEO Alejandro Agag is "putting reach before revenue, and casting an envious glance" at UFC and Conor McGregor, "as he seeks to grow his electric car racing series," according to Alan Baldwin of REUTERS. The Spaniard said on Wednesday that Formula E, which will start its fourth season in Hong Kong on Dec. 2, was "ramping up the marketing spend." That means investing up to €40M ($47.1M) per year on promotion and "remaining as freely accessible as possible." Agag said, "We make some money from media rights but our priority is reach. We need to build a fan base. We've been studying a lot what happened with UFC, which is kind of the last big success new sport. That took 20 years and the TV following of UFC was quite low and quite flat for a long time, but the fan base was growing and growing. And suddenly boom! The TV grows and meets the fan base" (REUTERS, 11/15).
Leagues and Governing Bodies
MLB Chief Legal Officer Dan Halem said that a new player posting agreement with the MLB Players' Association and Nippon Professional Baseball is expected to be complete by early December. That would pave the way for the arrival of much-hyped Japanese player Shohei Otani to the MLB (Eric Fisher, Staff Writer).
U.K. Sports Minister Tracey Crouch announced on Thursday an agreement had been struck to "outlaw coaches having sex with 16 and 17-year-olds under their care." Crouch told parliament the Ministry of Justice and Home Office "finally agreed to bring the industry into line with the education sector," in which it is illegal for teachers to sleep with pupils under the age of 18 (London TELEGRAPH, 11/16).
The Int'l Esports Federation and Istanbul's Bahçeşehir University signed an MOU "to build friendship and foster a relationship that will promote intellectual exchanges and growth of academic resources in the field of esports" (ESPORTS OBSERVER, 11/16).
For more coverage of the business of esports, visit our partners, esportsobserver.com.