13 Navy All-Americans Named to Butkus Award Watch List
13 former Navy All-Americans were named to the watch list.
CJ Allen (Georgia)
Alex Afari (Kentucky)
Lander Barton (Utah)
Sammy Brown (Clemson)
Whit Weeks (LSU)
Anthony Hill (Texas)
Taariq Al-Uqdah (Washington)
Deontae Lawson (Alabama)
Xavian Sorey (Arkansas)
Drayk Bowen (Notre Dame)
Devon Jackson (Oregon)
Sammy Omosigho (Oklahoma)
Arion Carter (Tennessee)
Only 100 football players receive the honor of wearing the Navy All-American Bowl jersey each year. The 2026 Navy All-American Bowl from the Alamodome in San Antonio, Texas, will be presented live on NBC and Peacock.
About the All-American Bowl
As an NBC Sports-owned property, the All-American Bowl is part of a marquee lineup of elite events that includes the Olympics and Paralympics, the Premier League, and primetime's #1 show for an unprecedented 13 consecutive years: Sunday Night Football. The All-American Bowl is annually the most-watched, most-talked about, and most-prestigious high school all-star event with more than four million unique television viewers and more than 25,000 fans in attendance. The history and tradition of the All-American Bowl is unparalleled, as it features: 631 draft picks; 103 Super Bowl champions; 274 Pro Bowl selections; and 18 Heisman finalists. For more information, visit nbcsports.com/college-football/navy-all-american-bowl or follow us on Facebook, X, and Instagram (@AABonNBC).
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Notes (1) As the acquisition of the Acquired Businesses was accounted for as a merger between entities under common control, reported results presented in this earnings release reflect the results of the Acquired Businesses as if they had been part of TKO during the historical periods presented herein. See the 'Basis of Presentation' discussion on page 10 for further details. (2) The definition of Adjusted EBITDA can be found in the Non-GAAP Financial Measures section of the release on page 9. A reconciliation of Net Income (Loss) to Adjusted EBITDA for the three and six months ended June 30, 2025 and 2024 can be found in the Supplemental Information in this release on page 17. (3) Full Year 2025 Guidance amounts reflect the expected performance for the Company's UFC and WWE businesses, as well as the Acquired Businesses (consisting of IMG, On Location, and PBR). See the 'Full Year 2025 Guidance' discussion on page 6 as well as the 'Basis of Presentation' discussion on page 10 for further details. (4) The definition of Free Cash Flow and Free Cash Flow Conversion can be found in the Non-GAAP Financial Measures section of the release on page 9. A reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow for the three and six months ended June 30, 2025 and 2024 can be found in the Supplemental Information in this release on page 18. (5) An explanation of the basis of presentation can be found in this release on page 10. Expand Non-GAAP Financial Measures The Company refers to certain financial measures that are not recognized under United States generally accepted accounting principles ('GAAP'). This press release includes financial measures that are not calculated in accordance with GAAP, including Adjusted EBITDA, Adjusted EBITDA margin, Free Cash Flow and Free Cash Flow Conversion. Please see the definitions below and the reconciliation tables included in this release for additional information and a reconciliation of the Non-GAAP financial measures to the most comparable GAAP financial measures. The Company defines Adjusted EBITDA as net income excluding income taxes, net interest expense, depreciation and amortization, equity-based compensation, merger and acquisition costs, certain legal costs, restructuring, severance and impairment charges, and certain other items when applicable. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue. TKO management believes that Adjusted EBITDA and Adjusted EBITDA margin are useful to investors as these measures eliminate the significant level of non-cash depreciation and amortization expense that results from its capital investments and intangible assets, and improve comparability by eliminating the significant level of interest expense associated with TKO's debt facilities, as well as income taxes which may not be comparable with other companies based on TKO's tax and corporate structure. Adjusted EBITDA and Adjusted EBITDA margin are used as the primary bases to evaluate TKO's consolidated operating performance. Adjusted EBITDA and Adjusted EBITDA margin have limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of TKO's results as reported under GAAP. Some of these limitations are: they do not reflect every cash expenditure, future requirements for capital expenditures, or contractual commitments; Adjusted EBITDA does not reflect the significant interest expense or the cash requirements necessary to service interest or principal payments on TKO's debt; although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced or require improvements in the future, and Adjusted EBITDA and Adjusted EBITDA margin do not reflect any cash requirement for such replacements or improvements; and they are not adjusted for all non-cash income or expense items that are reflected in TKO's statements of cash flows. TKO management compensates for these limitations by using Adjusted EBITDA and Adjusted EBITDA margin along with other comparative tools, together with GAAP measurements, to assist in the evaluation of TKO's operating performance. Adjusted EBITDA and Adjusted EBITDA margin should not be considered substitutes for the reported results prepared in accordance with GAAP and should not be considered in isolation or as alternatives to net income as indicators of TKO's financial performance, as measures of discretionary cash available to it to invest in the growth of its business or as measures of cash that will be available to TKO to meet its obligations. Although TKO uses Adjusted EBITDA and Adjusted EBITDA margin as financial measures to assess the performance of its business, such use is limited because it does not include certain material costs necessary to operate TKO's business. TKO's presentation of Adjusted EBITDA and Adjusted EBITDA margin should not be construed as indications that its future results will be unaffected by unusual or nonrecurring items. These non-GAAP financial measures, as determined and presented by TKO, may not be comparable to related or similarly titled measures reported by other companies. Set forth below are reconciliations of TKO's most directly comparable financial measures calculated in accordance with GAAP to these non-GAAP financial measures on a consolidated basis. The Company defines Free Cash Flow as net cash provided by operating activities less cash used for capital expenditures. TKO views net cash provided by operating activities as the most directly comparable GAAP measure. Free Cash Flow Conversion is defined as Free Cash Flow divided by Adjusted EBITDA. Although they are not recognized measures of liquidity under U.S. GAAP, Free Cash Flow and Free Cash Flow Conversion provide useful information regarding the amount of cash TKO's continuing business generates after capital expenditures and is available for reinvesting in the business, debt service, share repurchases and payment of dividends. Free Cash Flow and Free Cash Flow Conversion have certain limitations in that they do not represent the total increase or decrease in the cash balance for the period, nor do they represent the residual cash flow for discretionary expenditures. Reconciliations of the Company's Non-GAAP financial measure guidance to the most directly comparable GAAP financial measures cannot be provided without unreasonable efforts and are not provided herein because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations and certain other items reflected in our reconciliation of historical Non-GAAP financial measures, the amounts of which could be material. Basis of Presentation As a result of the February 28, 2025 closing of the Company's agreement with Endeavor to acquire IMG, On Location, and PBR (the 'Acquired Businesses') in a common control transaction, TKO's consolidated financial information presented herein reflect the combined results of TKO and the Acquired Businesses as if they had been part of TKO during the historical periods presented under common control. TKO's financial information presented herein for the periods that it did not own the Acquired Businesses were prepared by Endeavor Group Holdings, Inc. and include allocations for corporate expenses to the businesses based on Endeavor Group Holdings, Inc.'s corporate expense profile. These expenses consisted of certain support functions that were provided on a centralized basis, such as expenses related to finance, human resources, information technology, facilities, and legal, among others and were allocated to the Acquired Businesses. Endeavor Group Holdings, Inc. allocated these corporate expenses on a pro rata basis of headcount, gross profit, and other allocation methodologies. Corporate allocations were $21.7 million for the six months ended June 30, 2025 representing allocations from January 1 through February 28, 2025. Corporate allocations were $23.7 million and $54.5 million, respectively, for the three and six months ended June 30, 2024 representing allocations from January 1, 2024 through June 30, 2024. Under TKO ownership effective February 28, 2025, such corporate allocations will no longer occur. Effective February 28, 2025, the Company operates its business under three reportable segments, UFC, WWE, and IMG. The UFC and WWE segments consist entirely of the operations of these businesses, while the IMG segment consists entirely of the operations of IMG and On Location. In addition, the Company reports results for the 'Corporate and Other' group, which includes the operations of PBR, management fees for services provided to certain equity method investments as well as general and administrative expenses that are not allocated to the business segments. These expenses largely relate to corporate activities, including information technology, facilities, legal, human resources, finance, accounting, treasury, investor relations, corporate communications, community relations and compensation to TKO's management and board of directors, which support both reportable segments. All prior period amounts related to the segment change have been retrospectively reclassified to conform to the new presentation. The profitability measure employed by the Company in assessing operating performance, including that of its segments, is Adjusted EBITDA. The Company defines Adjusted EBITDA as net income, excluding income taxes, net interest expense, depreciation and amortization, equity-based compensation, merger and acquisition costs, certain legal costs, restructuring, severance and impairment charges, and certain other items when applicable. Adjusted EBITDA includes amortization expenses directly related to supporting the operations of the Company's segments, including content production asset amortization. Additional Information As previously announced, TKO will host a conference call at 5:00 p.m. ET on August 6, 2025, to discuss its second quarter 2025 results. All interested parties are welcome to listen to a live webcast that will be hosted through the Company's website at Participants can access the conference call by dialing 1-833-470-1428 (conference ID: 381252). Please reserve a line 5-10 minutes prior to the start time of the conference call. Any accompanying materials referenced during the call will be made available on August 6, 2025, at A replay of the call will be available approximately two hours after the conference call concludes and can be accessed on the Company's website. About TKO TKO Group Holdings, Inc. (NYSE: TKO) is a premium sports and entertainment company. TKO owns iconic properties including UFC, the world's premier mixed martial arts organization; WWE, the global leader in sports entertainment; and PBR, the world's premier bull riding organization. Together, these properties reach 1 billion households across 210 countries and territories and organize more than 500 live events year-round, attracting more than three million fans. TKO also services and partners with major sports rights holders through IMG, an industry-leading global sports marketing agency; and On Location, a global leader in premium experiential hospitality. Website Disclosure Investors and others should note that TKO announces material financial and operational information to its investors using press releases, SEC filings and public conference calls and webcasts, as well as its Investor Relations site at TKO may also use its website as a distribution channel of material information about the Company. In addition, you may automatically receive email alerts and other information about TKO when you enroll your email address by visiting the 'Investor Email Alerts' option under the Resources tab on Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding TKO's business strategy and plans, financial outlook, integration of IMG, On Location and Professional Bull Riders, capital return program and TKO's financial condition, and anticipated financial and operational performance. The words 'believe,' 'may,' 'will,' 'estimate,' 'potential,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'could,' 'would,' 'project,' 'plan,' 'target,' and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees and involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from what is expressed or implied by the forward-looking statements, including, but not limited to: TKO's ability to generate revenue from discretionary and corporate spending on events; TKO's dependence on key relationships with television and cable networks, satellite providers, digital streaming partners and other distribution partners; TKO's ability to adapt to or manage new content distribution platforms or changes in consumer behavior; the realization of benefits of the Acquired Businesses; TKO's success in its strategic acquisitions, investments and commercial agreements; adverse publicity concerning the Company or its key personnel; the highly competitive, rapidly changing and increasingly fragmented nature of the markets in which TKO operates; TKO's dependence on the continued services of executive management and other key employees; changes in public and consumer tastes and preferences and industry trends; financial risks with owning and managing events for which TKO sells media and partnership and marketing rights, ticketing and hospitality; the Company's substantial indebtedness; and other important factors discussed in the section entitled 'Risk Factors' in TKO's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed by TKO, as any such factors may be updated from time to time in TKO's other filings with the SEC, accessible on the SEC's website at and TKO's investor relations site at Forward-looking statements speak only as of the date they are made and, except as may be required under applicable law, TKO undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. TKO Group Holdings, Inc. Consolidated Balance Sheets (In millions) (Unaudited) As of June 30, December 31, 2025 2024 Assets Current assets: Cash and cash equivalents $ 535.1 $ 619.8 Restricted cash 323.4 58.3 Accounts receivable, net 633.5 423.0 Deferred costs 140.8 179.3 Other current assets 280.1 248.1 Total current assets 1,912.9 1,528.5 Property, buildings and equipment, net 606.5 629.9 Intangible assets, net 3,527.6 3,649.9 Finance lease right-of-use assets, net 237.1 248.6 Operating lease right-of-use assets, net 62.2 64.6 Goodwill 8,442.5 8,442.0 Investments 123.0 101.2 Other assets 429.9 447.1 Total assets $ 15,341.7 $ 15,111.8 Liabilities, Non-controlling Interests and Stockholders' Equity Current liabilities: Accounts payable $ 283.9 $ 246.4 Accrued liabilities 393.9 670.2 Current portion of long-term debt 27.0 27.0 Current portion of finance lease liabilities 20.2 15.6 Current portion of operating lease liabilities 18.0 17.0 Deferred revenue 439.5 416.7 Other current liabilities 294.0 20.9 Total current liabilities 1,476.5 1,413.8 Long-term debt 2,722.3 2,735.3 Long-term finance lease liabilities 223.9 236.0 Long-term operating lease liabilities 48.4 52.5 Deferred tax liabilities 337.2 360.5 Other long-term liabilities 170.7 170.8 Total liabilities 4,979.0 4,968.9 Commitments and contingencies Redeemable non-controlling interests 21.9 21.9 Stockholders' equity: Class A common stock — — Class B common stock — — Additional paid-in capital 4,410.9 4,385.3 Accumulated other comprehensive loss (15.6) (2.6) Accumulated deficit (130.0) (291.7) Total TKO Group Holdings, Inc. stockholders' equity 4,265.3 4,091.0 Nonredeemable non-controlling interests 6,075.5 6,030.0 Total stockholders' equity 10,340.8 10,121.0 Total liabilities, nonredeemable non-controlling interests and stockholders' equity $ 15,341.7 $ 15,111.8 Expand TKO Group Holdings, Inc. Consolidated Statements of Cash Flows (In millions) (Unaudited) Six Months Ended June 30, 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ 438.6 $ (188.3 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 199.9 241.0 Amortization and impairments of content costs 13.6 15.7 Amortization of original issue discount and deferred financing cost 1.3 5.4 Impairment charges — 24.3 Loss on sale of investments 1.1 — Equity-based compensation 63.3 59.0 Income taxes 41.0 (28.0 ) Equity earnings of affiliates, net of dividends received (4.7 ) (1.1 ) Loss on disposal of assets — 83.0 Net (gain) loss on foreign currency transactions (6.2 ) 2.4 Other, net 1.6 (7.2 ) Changes in operating assets and liabilities, net of acquisition: Accounts receivable (208.2 ) (190.5 ) Other current assets (74.6 ) (93.2 ) Other noncurrent assets 31.4 (84.8 ) Accounts payable and accrued liabilities 21.2 423.9 Deferred revenue 37.7 58.9 Other liabilities 2.0 31.5 Net cash provided by operating activities 559.0 352.0 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property, buildings and equipment and other assets (48.6 ) (64.2 ) Investment in affiliates, net (13.8 ) (16.4 ) Due from parent — (2.7 ) Proceeds from the sale of assets 5.8 0.1 Proceeds from infrastructure improvement incentives 5.4 — Proceeds from sales of investments and other 1.5 — Net cash (used in) provided by investing activities (49.7 ) (83.2 ) CASH FLOWS FROM FINANCING ACTIVITIES: Repayment of long-term debt (20.8 ) (172.1 ) Proceedings from borrowings — 150.0 Repurchase of Class A common stock — (165.0 ) Payments of contingent consideration related to acquisitions — (0.6 ) Net transfers to parent (122.5 ) (70.2 ) Contributions from parent 26.5 — Distributions to members (166.7 ) — Dividends paid (62.1 ) — Distributions of non-controlling interests (0.4 ) (0.4 ) Net cash used in financing activities (346.0 ) (258.3 ) Effects of exchange rate movements on cash 17.1 (1.9 ) NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 180.4 8.6 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 678.1 371.8 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD $ 858.5 $ 380.4 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest 103.2 130.1 Cash payments for income taxes 31.3 16.6 NON-CASH INVESTING AND FINANCING TRANSACTIONS: Capital expenditures included in current liabilities 2.7 21.5 Capital contribution from parent 49.9 4.6 Accretion of redeemable non-controlling interests (4.9 ) — Principal stockholder contributions — 1.5 Excise taxes on repurchases of common stock — 1.5 Expand TKO Group Holdings, Inc. Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin (In millions, except percentages) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Net income (loss) $ 273.1 $ 46.2 $ 438.6 $ (188.3) Provision for income taxes 46.5 6.6 67.7 0.9 Interest expense, net 48.2 63.0 93.0 124.2 Depreciation and amortization 99.4 118.9 199.9 241.0 Equity-based compensation expense (1) 33.0 26.8 63.3 59.0 Merger and acquisition costs (2) 4.2 2.4 44.0 2.9 Certain legal costs (3) 9.7 6.0 16.2 351.2 Restructuring, severance and impairment (4) 4.3 30.4 5.8 39.9 Other adjustments (5) 8.1 0.5 15.4 8.9 Total Adjusted EBITDA $ 526.5 $ 300.8 $ 943.9 $ 639.7 Net income (loss) margin 21 % 4 % 17 % (8) % Adjusted EBITDA margin 40 % 25 % 37 % 26 % Expand (1) Equity-based compensation represents non-cash compensation expense for various awards issued under the TKO 2023 Incentive Award Plan, awards assumed in connection with the acquisition of WWE in September 2023, and awards issued under Endeavor Group Holding, Inc.'s 2021 Plan. For the three and six months ended June 30, 2025 and June 30, 2024, equity-based compensation includes $1.0 million and $6.7 million, and $2.0 million and $15.7 million, respectively, of expense associated with certain services provided by an independent contractor in the WWE segment. For the three and six months ended June 30, 2024, equity-based compensation includes $0.9 million and $3.3 million, respectively, of expense associated with accelerated vesting of the Replacement Awards related to the workforce reduction of certain employees in the WWE segment and Corporate and Other. (2) Includes certain costs of professional advisors related to strategic transactions, primarily the Acquired Businesses. (3) Includes costs related to certain litigation matters including antitrust lawsuits for UFC and WWE and matters where Mr. McMahon has agreed to make future payments to certain counterparties personally. For the six months ended June 30, 2024, these costs include the preliminary legal settlement of the UFC antitrust lawsuit for $335.0 million. (4) Includes costs resulting from the Company's cost reduction program. For the three and six months ended June 30, 2024, the Company recorded an impairment charge of $24.3 million as a result of reducing the carrying value of WWE assets held for sale to their fair value less cost to sell. (5) For the three months ended June 30, 2025, other adjustments primarily reflect losses on foreign exchange transactions, partially offset by a net gain of $2.2 million related to the sale of certain equity method investments. For the six months ended June 30, 2025, other adjustments primarily reflect losses on foreign exchange transactions as well as a net loss of $2.5 million from the sale of certain equity method investments, partially offset by a gain of $1.3 million on the sale of PBR's former headquarters building. Other adjustments for three and six months ended June 30, 2024 primarily reflects losses on foreign exchange transactions. Expand (1) Net cash provided by operating activities for the three and six months ended June 30, 2025 includes approximately $164.8 million and $265.1 million, respectively, of pre-payments held in escrow related to the 2026 FIFA World Cup. (2) Purchases of property, buildings and equipment and other assets for the three and six months ended June 30, 2024 includes approximately $7.3 million and $26.9 million, respectively, of capital expenditures related to WWE's new headquarter facility. Expand
New York Post
30 minutes ago
- New York Post
Phillies' Kyle Schwarber looming in National League MVP race as Dodgers, Shohei Ohtani struggle
Gambling content 21+. The New York Post may receive an affiliate commission if you sign up through our links. Read our editorial standards for more information. A new contender is creeping into the 2025 National League MVP race. After sitting atop the odds board all season, Shohei Ohtani suddenly has some competition in Phillies slugger Kyle Schwarber, who has been red-hot of late. Ohtani is down to -400 to win the award at FanDuel Sportsbook – the lowest he's been in months – while Schwarber is lurking at +300. Schwarber has 15 home runs in his last 30 games, which is three more than any hitter in baseball in that span, catapulting him into the award race. Overall, this season, Schwarber has an NL-leading 40 long balls – two more than Ohtani – while hitting .256/.379/.585. Schwarber's dominant stretch – and the Mets' struggles – have helped boost the Phillies to the top of the NL East, holding on to a 2.5-game lead before Wednesday's slate. Meanwhile, Ohtani hasn't been his otherworldly self over that same 30-game stretch, hitting nine homers while slashing .233/.346/.491, which is a significant step down from his first half of the season. Los Angeles Dodgers' Shohei Ohtani smiles after grounding out during the second inning at the MLB baseball All-Star game between the American League and National League, Tuesday, July 15, 2025, in Atlanta. AP Ohtani has also made just two starts on the mound since the All-Star break after leaving his last start in late July with cramping, although he is scheduled to toss four innings against the Cardinals on Wednesday. Perhaps most importantly, the Dodgers haven't played well of late. Since July 1, they are just 13-16 and are hanging on to just a three-game lead in the NL West over the Padres despite coming into the season with some of the highest expectations for a team in recent history. Learn all you need to know about MLB Betting Last week, we pointed out Cubs outfielder Pete Crow-Armstrong as a potential challenger to Ohtani for the NL MVP. But award races can change quickly, and oddsmakers have Schwarber as the one most likely to threaten Ohtani's chances at a fourth MVP in five seasons. Why Trust New York Post Betting Dylan Svoboda is a versatile writer and analyst across many sports. He's particularly knowledgeable about the big three — MLB, the NFL and the NBA.
