Takeaways from Big 12's media extensions; NWSL eyes expansion and media deal and LIV Golf outlines goals for '23
Well, the World Series returns tonight... Monday night, and will be played over the next three nights from wild Philadelphia.
Baseball must love the start to this series, tonight from Citizens Bank Park, there should be some great, great visuals as there is such demand for tickets and merchandise sales are very strong. This World Series is going to be really good for business.
We have a big week coming up. We have MLS Cup and NASCAR Championship Weekend and the Breeders Cup, where I'll be on Friday and Saturday. So if you're there, please say hello and this is your Morning Buzzcast for Monday, October 31st, A special Halloween edition of the Buzzcast. Hope everybody has a great day. Thanks for listening to the Buzzcast. I'm Abe Madkour.
Let's start with college sports because no doubt about it, a big win for the Big 12 and new commissioner Brett Yormark, as the conference has really stabilized its future by coming to terms with ESPN and Fox Sports on a six-year media rights agreement worth a total of $2.28 billion, which turns into an average annual value of about $380 million. Now the Big 12 has two years remaining on its current deal, and that has an annual average value of $220 million in its final years. So you see the percentage increase here big for the Big 12, and this new six-year extension runs through the 2030-31 season. So new Commissioner Brett Yormark, since starting his job on August 1st, immediately began trying to get a new deal done with the incumbents ESPN and Fox. Now the problem was their exclusive negotiating window with the networks didn't begin until February of 2024. So Yormark had to convince the networks to start negotiations early. He moved quickly to get these deals done with both Fox and ESPN in less than three months.
Now, a year ago, I don't think any of us would have considered the Big 12 a serious candidate for any increase in rights fee. Remember, Texas and Oklahoma said they would leave the Big 12 for the SEC. At that time, the Big 12's future looked pretty bleak. But, former Commissioner Bob Bowlsby moved quickly to add four schools to the footprint and Brett Yormark worked very fast to get these extensions. He worked with Endeavor and IMG Media to assist in negotiations with the networks and now all the focus is on the PAC 12. And what will they do as they are in the open market with their rights? And everybody's curious what remaining networks, what media outlets will step up and partner with the PAC 12. But no doubt about it, a very big deal and a healthy deal for the Big 12.
Let's move on. I caught the NWSL final on Saturday night on television, and the energy seemed great at Audi Field as the Portland Thorns defeated the Kansas City Current, two-zip, to win the club's third NWSL Championship. Again, it was played in DC. Now the Thorn's title caps off quite a year for the club, as, of course, the club and the league as a whole navigate the issues of misconduct and abuse in the wake of the Yates report. And there's an upcoming report from the league office and the Players Association into those certainly areas of misconduct and abuse. So there's more coming out around this story and the Thorns have been a subject of the misconduct and abuse all season, but they do win their third title. The championship game had a healthy attendance of more than 17,000 fans. Commissioner Jessica Berman said that, "for the foreseeable future, the NWSL will continue holding the finals at a neutral site."
Now, Berman also talked possible expansion for the league and said that, "formal applications for the rights to acquire an NWSL expansion team are due this week." And she expects anywhere between five to 10 potential ownership groups to apply. Now, it'll be interesting to see the valuation of any new teams going forward. Remember, the sale of the Washington Spirit was for $35 million. And some of the minority investments in teams like Gotham FC and Angel City FC come with valuations between $40 million and $100 million, respectively.
So there's a real interest around the NWSL and a lot of interest around the valuations of these clubs. Now, the league plans to add two teams for the 2024 season. One of them is likely earmarked for Utah as Ryan Smith and David Blitzer, the owners of Rio Salt Lake, have an option to acquire an expansion NWSL team. But in addition to Utah, there will likely be another market joining the NWSL. Looking back on the 22 season, Berman said that, "sponsorship revenue for the league increased nearly 90% over 2021." Meanwhile, Ally Financial CMO, Andrea Brimmer used the weekend to announce that the financial company has renewed their partnership with the NWSL for another five years. Now, this is the NWSL's second longest sponsorship deal, only behind Nike's deal. So that's a big deal for the NWSL as the league is also about to enter an exclusive negotiating period with CBS for their next media rights deal. So a lot on Jessica Berman's plate, a lot ahead for the NWSL.
Let's move to golf as LIV Golf concluded its first season on Sunday. Dustin Johnson's 4 Aces team won the season ending LIV Golf Team Championship at Trump National Doral on Sunday. We talked about the money on LIV Golf all year, and the victory capped off quite a year for DJ, who is by far the biggest money winner in the first year of the LIV Golf tour, including his $18 million for winning the season individual title. Dustin Johnson finished the year on LIV Golf by bringing in more than $35 million. That says it all about LIV Golf right there.
Meanwhile, LIV Golf leaders outlined several goals for 2023 and they include a network television deal, both domestic and international. They include bringing on corporate sponsorships and they include developing that team model concept. Now, LIV Golf is also discussing, or in discussions, with other players to help finalize its lineup for next year. It isn't clear how many more players they are targeting, but SI reported that there could be as many as eight to 10 spots that LIV Golf can fill in the coming months. But as LIV Golf concludes its year, there's no doubt about it, they were the biggest disruptor in all of sports in 2022.
We started the Buzzcast talking about the World Series. Well, let's return to talking about baseball. MLB Commissioner Rob Manfred sounded not very optimistic over the weekend about the A's staying in Oakland. I was surprised by the tenor of his tone. He really believes that Oakland officials have tried very hard to get a deal done with the A's. But he admitted it just doesn't look like it's going to happen. I was surprised by that frank assessment. The A's, of course, are talking to Las Vegas about a potential relocation. The development in Oakland, we know, is part of a $12 billion proposed development that includes a $1 billion privately finance waterfront ballpark. But Manfred said, he's not positive the Oakland project will make it. Now, he didn't say that the A's will ultimately relocate to Las Vegas, but in significant news, he did say he would waive any relocation fee for the A's if they did decide to relocate outside of Oakland following the '24 season.
But it doesn't sound very positive for the A's right now. There's an election next week you want to keep your eye on, but I still find it hard to believe Major League Baseball will leave the 10th largest media market, but maybe media market size doesn't matter as much as it did in the past. Las Vegas obviously is the 40th largest media market in the United States. But right now, things not looking very good for the as remaining in Oakland.
And we'll end around this, the Coyotes lost three to two to the Winnipeg Jets in their home opener. Now, why is this important? Well, because the Coyotes, of course, are playing at Mullet Arena on the Arizona State University campus. Sellout of that arena was about 4,600 fans. Yes, you heard that right. 4,600 fans. And that's why I'm bringing it up. I just think this will be a very interesting test case for a team playing in such a non-traditional venue.This arena on Friday night had a full student section from students at ASU. They offered chants during the game. Spectators said it felt more like a college event. There was a drum line, but it was notable that players and officials both cited a very electric atmosphere in the venue full of fans and very, very loud. And one report said for the first time in the years "maybe in forever, the Coyotes had a real home ice advantage." I thought that was clever, but that's why I'm going to continue to watch this environment and atmosphere and see how it plays out for the Coyotes. Because you never know if it could start a trend on more intimate venues.
So that is your morning Buzzcast for Monday, October 31st. Have a very safe Halloween. I'm Abe Madkour, thanks for listening to the Buzzcast and spread the word if you're enjoying the Buzzcast. Stay healthy, be good to each other. I'll speak to you tomorrow.