December 23, 2022
Arch Manning, the No. 1 recruit in the country, recently committed to the University of Texas. The third generation of a family dynasty of NFL quarterbacks, Manning has an NIL valuation of $3.5 million — the highest of any football player, high school or college — according to On3.
Netflix is hoping to get you off the couch.
The streaming platform is adding fitness classes to its library on Dec. 30, shortly before countless exercise-related New Year’s resolutions kick in.
The move puts Netflix in competition with other giants with fitness programming, such as Peloton and Apple.
The success of the program will likely inform whether Netflix invests in future fitness content, whether with Nike or produced in-house.
While Netflix has still not found a match in a live sports market it deems too expensive, it has grown its sports docuseries programming.
On Jan. 13, it will release its latest collaboration with “Drive to Survive” producer Box to Box, a tennis-focused series called “Break Point.”
The streamer is also working with the PGA Tour on a golf series.
Netflix co-CEO Ted Sarandos explained earlier this month why the company has yet to invest in live sports, noting that “we’ve not seen a profit path to renting big sports.”
“We’re not anti-sports,” he added. “We’re just pro-profit.”
Kirby Lee-USA TODAY Sports
Sports teams looking for new homes could one day face a different financial landscape, but for now many are cashing in on public funds.
Since 2000, professional sports teams have secured $4.3 billion in public funds for stadiums and arenas, with more on the way, per CNBC. A separate source put the figure at an inflation-adjusted $27 billion since 1990.
Major League Baseball commissioner Rob Manfred has sought to maintain a precedent of all new stadiums receiving public contributions.
Nashville Metro Council has approved the terms sheet for a $2.1 billion domed Tennessee Titans stadium.
The step likely ensures that the new stadium will open by 2026, with a few final votes in the coming months. pic.twitter.com/Q8DzNgqlVH
Studies have found that taxpayers do not recover the amount they give up through increased revenue, tourism, and other sources.
An analysis of 130 studies on the economic impact of sports teams and venues found that they “are not associated with having strong economic impacts on local communities.”
Las Vegas officials claim to be on the way to recovering their $750 million investment in the $1.9 billion Allegiant Stadium.
Legislation to bar public funding for stadiums has been introduced in the last two sessions of Congress but has yet to become law.
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As women’s sports grow, so are the athletes’ pockets.
For the first time since Forbes’ highest-paid female athletes ranking began in 2008, more than seven women made at least $10 million — boosting the total amount made before taxes and agents’ fees by the 25 highest-paid female athletes to $285 million in 2022.
Of the total, the top 10 accounted for a record $194 million — a 17% increase from last year’s $167 million. Of the top 10 highest-paid female athletes, seven play tennis.
Naomi Osaka took the top spot for the third consecutive year with $51.1 million in earnings, followed by fellow tennis star Serena Williams ($41.3 million), and 19-year-old skier Eileen Gu ($20.1 million).
Gu, Raducanu, Świątek, and Gauff are all newcomers to the list.
Tennis players Caroline Garcia and Garbińe Muguruza tied at No. 24 with $5.2 million in earnings.
Individual sports continue to dominate — 12 tennis players and seven golfers made the top 25.
Biles and Gu were the only gymnasts and skiers on the list. One badminton player (P.V. Sindhu), one basketball player (Candace Parker), and two soccer players (Megan Rapinoe and Alex Morgan) rounded out the list.
Yukihito Taguchi-USA TODAY Sports
The unforgettable 2022 FIFA World Cup was a hit among viewers across the world — and the cash spent at its host stadiums suggests that it resonated with fans as well.
Argentina’s win over France after a 3-3 draw that went to penalty kicks was the end to a month-long tournament that saw fans spend more cash than the last edition of the World Cup.
FIFA stands to see more spending at the 2026 World Cup as it will expand from 32 teams to 48.
The spending has already resulted in favorable results for soccer’s governing body. FIFA reported $7.5 billion in revenue for the 2019-22 commercial cycle — $1 billion more than it budgeted. The governing body projects to earn $11 billion for the 2023-26 commercial cycle.
The World Cup final generated 7.9 million geolocation transactions — making it the second most wagered-on on sports final in 2022 behind only Super Bowl LVI, according to GeoComply.
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