Latest news with #ScottSoshnick
Yahoo
3 days ago
- Business
- Yahoo
Sporticast 454: How To Monetize Your Third Straight Stanley Cup
On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams speak with Shawn Thornton, chief revenue officer of the Florida Panthers, about the team's return to the Stanley Cup Final and what it means for various different revenue streams. The Panthers face the Edmonton Oilers in Game 1 of the Finals on Wednesday. It's a rematch of last year's final, which the Panthers won in seven games, and the third straight Stanley Cup Final appearance for the Florida team. Advertisement More from Thornton talks about what that multiyear success means for the team. He discusses ticket renewals, sponsorship sales, and ticket pricing. He jokes that while he doesn't get a ton of inbound sales calls, the conversations are easier now. He also gave his thoughts on the team's local media partnership. The Panthers used to be on one of the Bally's RSN networks, but last summer moved to a broadcast deal with Scripps, a setup similar to a handful of other NBA, NHL and MLB teams caught in the Diamond Sports bankruptcy. While he declined to provide specifics on the economics, he did say game viewership is up more than 2x in some cases, and that helps the team in its broader partnership conversations. The trio discusses the Tkachuk brothers–Matthew is one of the Panthers' stars–who boosted their popularity during the Four Nations Face-Off earlier this year. That bleeds into a conversation about NHL players and their relationship with fame and marketing deals. For years, many marketing executives felt the culture of the sport made stars less likely to market themselves. Now, however, a fresh crop of young NHL stars seems to be changing that narrative, with a boost from new media and the league itself. Advertisement Thornton also talks about his personal journey from professional hockey player to team revenue boss. He played in the NHL for the Blackhawks, Ducks, Bruins and Panthers. At each stop, he said he gravitated to the business office. He arrived at the Panthers shortly after Vinny Viola bought the team in 2013 for $250 million, and the role grew from there. (You can subscribe to Sporticast through Apple, Google, Spotify, YouTube, or wherever else you get your podcasts.) Sign up for Sportico's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
Yahoo
22-05-2025
- Business
- Yahoo
Sporticast 451: Will NFL Players Dominate Olympic Flag Football?
On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, including the latest with the NFL and flag football's inclusion in the 2028 Los Angeles Summer Olympics. NFL owners voted this week to allow active players to take place in the sport's Olympic debut in Los Angeles. It opens the door for a maximum of one player from each team to play in the team representing the U.S. It's part of a push by the NFL to make the flag version of football a more viable commercial entity, and a more viable participation sport. That's especially true among young women and international populations, two growth areas for the world's richest sports league. Advertisement More from The hosts talk about whether NFL players would be the best performers in flag football. The Olympics 3×3 basketball did not use active NBA players, and many felt the U.S. team, which did not reach the knockout round in the 2024 Olympics, would have been better if it had. On the other hand, the two best singles tennis players in the world almost certainly wouldn't be the best doubles team at the Olympics. Regardless, NFL participation will be a big marketing boost for the sport. Before that, the hosts discuss TGL expansion. The golf league launched last year by Tiger Woods, Rory McIlroy and TMRW Sports just added an expansion team in Detroit, backed by the owners of the Lions and the Broncos. The group paid more than $70 million for the team, Sportico reported this week. Teams that made their debut last year were sold in the $30-$35 million range. The hosts also talk about the Fanatics Games, a blend of Pros vs. Joes and MrBeast's YouTube channel; the good (big ratings) and bad (social race-baiting) about the WNBA's opening weekend; and the sale of LiveBarn, the youth sports streaming platform whose backers include Susquehanna and Ares. Advertisement (You can subscribe to Sporticast through Apple, Google, Spotify, YouTube, or wherever else you get your podcasts.) Sign up for Sportico's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
Yahoo
26-03-2025
- Business
- Yahoo
NBA team owners reportedly considering launching European league, will discuss proposal this week
NBA team owners are expected to vote this week on an initiative to launch a professional basketball league in Europe, Sportico's Scott Soshnick and Eben Novy-Williams reported Tuesday. The proposed league would be comprised of eight to 10 teams and aims to expand basketball's presence across Europe and capitalize on the sport's popularity by being more involved in the economics of its growth overseas. The NBA estimates that the market for basketball in Europe and the Middle East could generate up to $3 billion in annual revenue. Franchises in cities such as London or Paris could sell for at least $500 million, according to Sportico. The NBA's league would sell permanent franchise openings to outside investors — such as sovereign wealth funds, private capital, individuals with capital or even current European basketball clubs. Under that arrangement, the NBA would hold 50% of the team's equity and new owners hold the other 50%. It's a model similar to that used for the WNBA until that league was able to raise outside capital in 2022. 🚨 BREAKING from @Sportico 🚨 NBA owners are set to vote this week on a plan to launch a pro basketball league in Europe 🏀🌍 — Lev Akabas (@LevAkabas) March 25, 2025 The NBA's European league could also operate under a "semi-open" model that would create spaces for top EuroLeague teams — for instance, FC Bayern Munich of Germany or Spain's Real Madrid — to join the NBA venture during the following year. This initiative is separate from the international basketball league seeking $5 billion from investors that's being advised by Maverick Carter, LeBron James' business partner, that aspires to be "an F1 for basketball" and not a direct competitor to the NBA. NBA team owners have discussed opportunities in Europe for the past year and the league has launched previous business deals in China and Africa, and played regular season games in London and Paris. Meanwhile, international players including three-time NBA MVP Nikola Jokić, two-time MVP Giannis Antetokounmpo, Luka Dončić and Victor Wembanyama have become huge stars in the league and grown the NBA's popularity overseas. The owners are scheduled to discuss the European league proposal this week during league meetings in New York City. No formal vote is scheduled during the meetings, but one could be made by the league's board of governors at any time, according to Sportico.
Yahoo
25-03-2025
- Business
- Yahoo
NBA team owners reportedly considering launching European league, scheduled to vote on proposal this week
NBA team owners are expected to vote this week on an initiative to launch a professional basketball league in Europe, Sportico's Scott Soshnick and Eben Novy-Williams report. The proposed league would be comprised of eight to 10 teams and aims to expand basketball's presence across Europe and capitalize on the sport's popularity by being more involved in the economics of its growth overseas. The NBA estimates that the market for basketball in Europe and the Middle East could generate up to $3 billion in annual revenue. Franchises in cities such as London or Paris could sell for at least $500 million, according to Sportico. The NBA's league would sell permanent franchise openings to outside investors — such as sovereign wealth funds, private capital, individuals with capital or even current European basketball clubs. Under that arrangement, the NBA would hold 50% of the team's equity and new owners hold the other 50%. It's a model similar to that used for the WNBA until that league was able to raise outside capital in 2022. 🚨 BREAKING from @Sportico 🚨 NBA owners are set to vote this week on a plan to launch a pro basketball league in Europe 🏀🌍 — Lev Akabas (@LevAkabas) March 25, 2025 The NBA's European league could also operate under a "semi-open" model that would create spaces for top EuroLeague teams — for instance, FC Bayern Munich of Germany or Spain's Real Madrid — to join the NBA venture during the following year. This initiative is separate from the international basketball league seeking $5 billion from investors that's being advised by Maverick Carter, LeBron James' business partner, that aspires to be "an F1 for basketball" and not a direct competitor to the NBA. NBA team owners have discussed opportunities in Europe for the past year and has launched previous business deals in China and Africa, while international players including three-time NBA MVP Nikola Jokić, two-time MVP Giannis Antetokounmpo, Luka Dončić and Victor Wembanyama have become huge stars in the league and grown the NBA's popularity overseas. The owners are scheduled to vote on the European league proposal this week during league meetings in New York City.
Yahoo
13-03-2025
- Business
- Yahoo
Sporticast 431: Breaking News at SXSW
On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams are joined by Sportico colleague Eric Jackson in a live episode filmed during SXSW in Austin, Texas. The trio breaks down news items Sportico broke this week, starting with rapper Eminem joining the group looking to bring a WNBA team back to Detroit. Eminem is one of the city's most prominent celebrities, and he's joined a group led by Pistons owner Tom Gores, whose NBA team is on the upswing. Others in the group include local athletes (Jared Goff), executives (Mary Barra) and owners of the Lions, Red Wings and Tigers. It's an all-hands-on-deck approach, and it comes as WNBA prepares to add at least one more franchise. More from Celtics Bidders: Friedkin, Middleman, Chisholm, Pagliuca Eminem Joins Detroit's WNBA Expansion Bid Group Pistons' Historic NBA Turnaround Drives Better Business Results Next they talk about the latest in the Boston Celtics sale. The next round of bids are due at the end of the week, and there are four groups currently engaged in the process. They are: 1) Steve Pagliuca, a Celtics minority partner and the likely front-runner; 2) the Friedkin Group, which owns two European soccer teams; 3) Philadelphia Phillies minority owner Stan Middleman; and 4) STG managing partner William Chisholm. It's unclear whether all the groups are fully funded, and the group discusses the oddities of this sale. The Celtics are one of the league's most visible, successful and valuable franchises, but they don't come with the real estate or media opportunities that are driving sports team valuations right now. Next they talk about random takeaways from conversations at the Sportico House at SXSW. NBA star Chris Paul, Olympian Gabby Thomas, former NFL player Colt McCoy, Texas football coach Steve Sarkisian and Men in Blazers founder Roger Bennett were among those that spoke during the two-day event. They covered athlete billionaires, new media strategies, start-up leagues, and more. (You can subscribe to Sporticast through Apple, Google, Spotify, YouTube, or wherever else you get your podcasts.)
