Highlight Reel: LIV PGA Merger Set to Change the Course of Professional Golf ⛳️
This week's top stories feature Messi, Inter Miami, MLS, LIV Golf, PGA Tour, PIF, YouTube, TGL, Serena Williams, Sixes, Stuart Broad, Ben Stokes and Jofra Archer, Apple and Disney
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Welcome to the Highlight Reel, where keeping up to date with sports business news is (almost) as valuable as Lionel Messi’s contract with Inter Miami.
Thanks to Lucas and Alex who liked last week’s Highlight Reel. We also added 10 new subscribers! Please feel free to forward this to anyone who you think would enjoy it.
This week's lineup includes…
LIV PGA Merger Set to Change the Course of Professional Golf ⛳️
YouTube Primetime Channels Launch Opens New Streams of Revenue 📺
Commercial Partners Assist MLS in Scoring Record Deal with Messi ⚽️
TGL Sells it’s First Franchise to Serena, Venus and Ohanian 🏌️♂️
Cricket Stars 4Cast Growth in America with Sixes Investment 🏏
Disney Developing Ways to Watch Sport in AR/ VR 🕶
ICYMI: I also published my weekly newsletter for JohnWallStreet on Wednesday:
Special shoutout to NWSL Commissioner Jessica Berman for sharing it on Twitter!
LIV PGA Merger Set to Change the Course of Professional Golf ⛳️
The proposed merger between the PGA Tour and its Saudi-funded rival LIV Golf stunned everyone (well, everyone besides Donald Trump) this week. However, it does leave a lot of questions…
While PGA Tour Commissioner Jay Monahan believes the merger will benefit golf, by bringing the best talent together under one umbrella and expanding the reach of the game, there are concerns about how regulators will view the deal, considering the previous tensions and potential antitrust issues.
Furthermore, golfers and sponsors have both expressed frustration and hesitation, waiting to see how the merger unfolds and how it may impact their endorsements and existing relationships.
P.S. Saudi Arabia’s Public Investment Fund (PIF) have had a busy week. A day before the PGA Tour news, PIF said that it will take control of four domestic clubs, including Cristiano Ronaldo’s Al Nassr.
More on this to follow… (make sure you’re signed up to JWS to get that Wednesday morning)
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YouTube Primetime Channels Launch Opens New Streams of Revenue 📺
YouTube Primetime Channels has officially launched in Germany, setting the stage for its expansion to other international markets.
Already present in the US since Nov, Primetime Channels offer the opportunity for users to subscribe and consume premium content from select partners without leaving YouTube - aiming to counter the fragmentation of content across multiple streaming platforms.
According to a Futuresource study, YouTube is already a helpful source for 52% of users to discover new TV content. This will allow the producers and owners of this content being discovered to upsell in-platform, including sports streaming channels and independent rightsholders such as Sports1+ and the European League of Football.
Commercial Partners Assist MLS in Scoring Record Deal with Messi ⚽️
Lionel Messi is heading to Inter Miami.
The World Cup winner has agreed a deal to come to the MLS, with the help from two of their core commercial partners; Adidas and Apple.
Apple and MLS previously signed a 10-year $2.5bn agreement and they are reported to have offered Messi a share of the revenue generated by new subscribers to MLS Season Pass. Similarly, the Argentine is also set to receive a cut of any Adidas' profit increase from him joining the league.
The Athletic reported Messi's deal would also include the option to purchase a percentage of an MLS team after he was done playing. It's not yet clear if that would be in Inter Miami or an expansion club.
TGL Sells it’s First Franchise to Serena, Venus and Ohanian 🏌️♂️
TGL, the golf league backed by Tiger Woods and Rory McIlroy, has announced that tennis legends Venus Williams and Serena Williams, along with Alexis Ohanian, Serena's husband and a venture capitalist, have acquired the Los Angeles Golf Club (LAGC) team.
This deal marks the formation of the league's inaugural team, ahead of its planned launch in January 2024. While the financial details of the deal were not disclosed, it is known that each team will hold a 3% equity stake in the league, aiming to start with six teams.
The team unveiled its branding, promo video, and merchandise, with the player roster to be announced later this year.
Cricket Stars 4Cast Growth in America with Sixes Investment 🏏
Social cricket hospitality chain Sixes has landed investment from England cricket stars Ben Stokes, Stuart Broad and Jofra Archer as it prepares to expand into the US.
4CAST investment group, which was founded by cricket stars, will provide funding to help the competitive socializing venue which aims to brings new experiences and innovations to cricket and attract new people to the sport.
The expansion to the US aims to capitalise on the launch of Major League Cricket (MLC), which is set to start in July and will take place primarily at a newly renovated venue in Dallas, Texas.
P.S. Competitive socialization has become one of the fastest growing trends in global hospitality over the last 10 years (and Formula 1 is also cashing in…)
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JOB BOARD
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Senior Strategy Manager - Formula E (London, UK)
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Disney Developing Ways to Watch Sport in AR/ VR 🕶
On Monday, Apple unveiled its new Vision Pro mixed-reality headset at its 2023 Worldwide Developers Conference, showing the world its vision for how AR/ VR.
The result of the presentation, which included Disney CEO Bob Iger, could change the way we watch sports, and the possibilities give new meaning to picture-in-picture and on-screen stats.
The ESPN owner's preview for sports on Vision Pro could display five games at once with the ability to easily toggle between them and access your favourite teams and leagues from the same view. Focusing on one match-up could enable fans to see multiple angles of the on-field action, including court-side views, buttressed by detailed stats.
P.S. Last month I wrote about the EuroLeague’s bet on VR and how Apple’s launch of the Vision Pro could impact things…
Do you run, work for, or work with an exceptional business within the sports industry Tell me about it and get yourself free publicity in the process 👇