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Big Ten Explores $2B Private Capital Deal
The Big Ten is considering a private capital deal that could inject at least $2 billion into the league and its member schools, alongside a proposed 10-year grant of rights extension to 2046 for financial stability. The potential structure would create "Big Ten Enterprises," a new entity to consolidate and scale media rights, sponsorships, and other revenue streams, allowing tiered upfront payments to every member school, with larger brands like Ohio State and Michigan potentially receiving more. The investor would hold a minority financial stake, without board control, ensuring all traditional conference functions remain under Big Ten authority. If executed effectively, this model could not only address rising costs and direct athlete revenue sharing, but also set a precedent for other conferences by leveraging collective commercial assets to maximize member institution financial returns.
Big Ten Explores $2 Billion Private Capital Deal
NCAA Division I Votes to Allow Athletes to Bet
WNBA CBA Dispute
The UFL Unveils Three New Franchises
Private Equity Giant Launches Sports Portfolio
NFL Can Leverage a Major Court Decision
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Sheppard Mullin's Sports Industry Team is uniquely positioned to address the complex and dynamic needs of our sports industry clientele. Our sports practice offers the expertise necessary to provide full service legal counsel to owners, teams, leagues, governing bodies, facility operators, key rights holders, advertising companies, sponsors and others involved in sports-related transactions or disputes.
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A weekly summary of the key trends and stories in sports business.
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The NCAA Division I Administrative Committee has approved a plan that would allow college athletes to bet on professional sports, but the rule will only take effect if Divisions II and III also vote in favor. This move does not affect the existing prohibition on wagering on college sports or the restrictions on sharing inside information and accepting gambling-related sponsorships. The NCAA is modernizing its approach to sports gambling as more states legalize betting, but recent suspensions of athletes for violations underscore ongoing concerns about game integrity. If widely adopted, these changes could create additional revenue opportunities for individuals and sports betting companies while also increasing the regulatory burdens and risk exposure for schools moving forward.
NCAA Division I Votes to Allow College Athletes to Bet on Pro-Sports
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The collective bargaining agreement between the WNBA and WNBPA is set to expire on October 31, opening the possibility for legal proceedings involving mediators and judges, unless both parties agree to extend negotiations. After expiration, current wages and benefits would generally continue under labor law until a new agreement or bargaining impasse is reached, but unresolved demands for higher player compensation and revenue share persist as franchise values and media deals surge. Measures like strikes, lockouts or union decertification could trigger antitrust litigation, echoing past disputes in other major professional leagues that led to costly delays and diminished fan engagement. Ultimately, rising league expenses and competitive pressures mean that both sides need to reach a business solution efficiently, or risk financial setbacks and damage to the WNBA's growing popularity.
WNBA CBA Dispute Could Bring Labor and Antitrust Litigation
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The United Football League (UFL) is launching three new franchises in Columbus, Louisville and Orlando for its upcoming season, replacing teams in Memphis, Michigan and San Antonio as part of a market and venue shift. The UFL aims to increase local engagement and fan attendance by moving games to smaller, soccer-specific stadiums that are more appropriately sized for spring football crowds, reflecting broader trends in U.S. sports infrastructure. Ownership remains diverse, including Dany Garcia, Dwayne Johnson and major investment firms, with new branding, competition format and partnerships, such as apparel provider NoBull, intended to bolster business momentum. While these moves have led to sharply increased local focus and may boost per-game revenue opportunities, the league’s long-term financial viability remains to be proven amid a challenging history for spring football in the U.S.
The UFL Unveils Three New Franchises
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CVC Capital Partners has launched Global Sport Group (GSG) to consolidate its $13.6 billion sports portfolio, aiming to maximize value creation and unlock commercial synergies across its seven leagues and numerous ventures. Led by high-profile executives and experienced sports rights specialists, GSG will focus on strategic expansion, media innovation and fan engagement, making it the largest sports fund in private equity. CVC’s dedicated approach with GSG provides an attractive platform for new investors and a potential exit route for existing ones, while targeting further geographical and sport-specific investments, especially in North America. By structurally separating and emphasizing its sports holdings, CVC is well-positioned to capitalize on dynamic trends in global sports, such as mobile-first consumption and the growth of women’s leagues, potentially influencing future PE activity in the sports sector.
Private Equity Giant Launches Sports-Focused Portfolio
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A U.S. District Court jury ordered the National Football League to pay more than $4.7 billion in damages for antitrust violations. The ruling held that restricting negotiations over rights to broadcast teams’ out-of-market Sunday games to a single, bundled TV package violated competition laws. The lawsuit covered 2.4 million residential subscribers and 48,000 businesses in the United States who paid for out-of-market games from 2011 through 2022 on DirecTV. The plaintiffs claimed that the NFL broke antitrust laws by selling its Sunday games package at an inflated price. While the League plans to appeal the decision, the ruling could prompt changes in how rights to air games are distributed, potentially benefiting football teams and fans alike. If the ruling stands, the NFL could lose out on one big-ticket payday. But dicing up rights could spark a wider feeding frenzy. The pot for sports rights is expected to grow to $30 billion annually by 2024.
NFL Can Leverage a Major Court Decision to Boost How Teams and Fans Watch Games
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Weekly Trivia Question
Weekly Trivia Question
Who is the first Japanese-born player inducted into the MLB Hall of Fame?
Weekly Trivia Question
Answer
Ichiro Suzuki
REveal Answer
Who is the first Japanese-born player inducted into the MLB Hall of Fame?
Weekly Trivia Question
In which organization are teams individually owned and belong to governing bodies which promote and relegate teams to different leagues based on performance?
Weekly Trivia Question
a. National Football League (American Football)
b. English Premier League (Soccer)
c. Major League Soccer (Soccer)
d. Serie National de Beisbol (Cuba) (Baseball)
Correct!
b. English Premier League (Soccer)
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Incorrect
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Hide Answer
In which organization are teams individually owned and belong to governing bodies which promote and relegate teams to different leagues based on performance?
Weekly Trivia Question
a. National Football League (American Football)
b. English Premier League (Soccer)
c. Major League Soccer (Soccer)
d. Serie National de Beisbol (Cuba) (Baseball)
Correct!
b. English Premier League (Soccer)
Hide Answer
Incorrect
try Again
The collective bargaining agreement between the WNBA and WNBPA is set to expire on October 31, opening the possibility for legal proceedings involving mediators and judges, unless both parties agree to extend negotiations. After expiration, current wages and benefits would generally continue under labor law until a new agreement or bargaining impasse is reached, but unresolved demands for higher player compensation and revenue share persist as franchise values and media deals surge. Measures like strikes, lockouts or union decertification could trigger antitrust litigation, echoing past disputes in other major professional leagues that led to costly delays and diminished fan engagement. Ultimately, rising league expenses and competitive pressures mean that both sides need to reach a business solution efficiently, or risk financial setbacks and damage to the WNBA's growing popularity.
WNBA CBA Dispute Could Bring Labor and Antitrust Litigation
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