SBJ Morning Buzzcast

SBJ Morning Buzzcast: April 19, 2022

Episode Summary

Warriors double down on content production; Kraken add two big-name LPs and agony at Augusta relived on "30 For 30"

Episode Transcription

Abe Madkour:
Sports Business Journal is excited to kick off our first Twitter Space called Strictly Business. Join us to discuss the latest news in the sports business on Thursday, this Thursday, April 21st at 2:00 PM Eastern Time. For more details and updates, be sure to follow Sports Business Journal on Twitter @sbjsbd. So that's Sports Business Journal Twitter Space, Strictly Business, this Thursday, 2:00 PM Eastern Time.

Also, congratulations to the talented crew of HBO's Real Sports and Bryant Gumbel, as tonight's show, Tuesday night, will be the 300th episode of Real Sports. Well done there. This is your Morning Buzzcast for Tuesday, April 19th. I'm Abe Madkour. Hope everybody is doing well. I want to start by talking about two really interesting sports franchises. We all know the Golden State Warriors are one of the most forward-thinking and successful organizations in sports, and they have taken another step in that direction by launching Golden State Entertainment.

This division will produce original documentaries and collaborate with musical recording artists as well as host events at the Chase Center. Now, we've talked about this on the Buzzcast. There was so much interest and energy in the content space, and so the Warriors who are of course, co-owned by longtime Hollywood executive Peter Guber, want to get more active in the content production. So the Warriors' role will range from providing funding for projects to producing a project from scratch.

Among the first efforts in the works is a feature length documentary that will be a collaboration with Mandalay Sports Media and another film out that would be due this summer, all under the Golden State Entertainment banner. Golden State Entertainment will also feature a music division. So a division separate of course from basketball, separate of course from the traditional team business, but something heavy in production, in content, in documentaries and in music. Warriors Chief Legal Officer, business and basketball executive, David Kelly, will oversee the division as its Chief Business Officer. So the Golden State Warriors doubling down on content with Golden State Entertainment.

Abe Madkour:
Let's shift to another organization that's already opened eyes, and they are one of the newest organizations in sports. That's the Seattle Kraken, and they have certainly impressed so many people for the innovative approach the franchise has displayed in its business practices. Now the team has brought on two big-name, they are limited partners who have local ties to Seattle ... Former NFL player Marshawn Lynch and rapper Macklemore have joined the Kraken as limited partners. Now they join an ownership group that's led by TPG Capital's David Bonderman, Jerry Bruckheimer, Kraken CEO is Tod Leiweke. Those are among the owners of the Kraken. Now they bring on limited partners in Marshawn Lynch and Macklemore.

Abe Madkour:
The valuation of the transactions was not disclosed, though the minority stakes are believed to represent less than 1% of the overall franchise, so I bet we're talking investments of likely $5 million or less. But both Marshawn Lynch and Macklemore have been engaged with the team since the Kraken's launch, and both bring value as local boosters of the club. They'll be active in club activities. Macklemore will take a role in producing music events and advising on in-arena activations. Marshawn Lynch will be very active in the community engagement programs. But Tod Leiweke, one of the best in the business, gets two high-profile, popular local investors in the Kraken, and now Tod Leiweke can share his knowledge of the hockey business with both Marshawn Lynch and Macklemore.

Yesterday on the Buzzcast, we talked about the final three bids for Chelsea, and a decision on the future of that franchise could come as early as this week. Now we're learning more details about the bids for the Denver Broncos. You will hear some familiar names from those bidding for the Broncos that are also bidding for Chelsea, such as Todd Boehly, such as the combination of Josh Harris and David Blitzer. Yesterday, both Bloomberg and Sportico reported that five prospective bidders have submitted non-binding bids for the Broncos. So one bid was led by Josh Harris and David Blitzer, one bid was led by Todd Boehly, another bid was led by the Walmart heir, Rob Walton, whose name has previously been connected to the Broncos. It is unclear who's leading the other two groups.

So all bidders are scheduled to have in-person meetings with Broncos' executives beginning next month in the beginning of May. Of course Allen & Company is handling the sale for the Broncos. So we'll see more and more news coming out about bids for the Broncos over the next few weeks.

On the Buzzcast, we've talked a lot about women's sports and more news on the women's hockey front. The Professional Women's Hockey League Players Association has announced that it will launch a six-team league based in Canada and the United States starting in January. So the season will go from January through April 2023. SportsNet out of Canada reported that it'll be a 32-game schedule, and the league will have an extensive rebrand. They'll change the name, the branding, the look and the feel. So all of that would be done before January.

Now, this is interesting because remember the Professional Women's Hockey Players Association started as a group to represent players, but now they're shifting to a more organized league structure. It sounds like despite talks with the Premier Hockey Federation, the two sides weren't aligned enough to combine to one league or combine as one league. Most everybody I have spoken with want one women's hockey league, and the hope is that the NHL would get behind one women's hockey league. But right now it looks like there will be two women's hockey leagues in 2023, a rebranded Professional Women's Hockey Players Association and the Premier Hockey Federation.

We'll end around golf. The latest episode of The Match is scheduled for Wednesday, June 1st at the Wynn Las Vegas. You have Tom Brady and Aaron Rodgers against Patrick Mahomes and Josh Allen. It'll be on TNT starting at 6:30 PM on a Wednesday evening. This will be Turner's sixth version of The Match. It's the second time that Wynn Las Vegas has been the host. Capital One returns as title sponsor of The Match. Excel Sports Management and Tom Brady's 199 Productions will be corporate partners as well. So The Match on June 1st with four big-hitting quarterbacks.

Finally, the last few months haven't been the easiest of times for Greg Norman, as his leadership of LIV Golf has faced various challenges. Well, one of Norman's greatest challenges and disappointments is in the spotlight tonight as ESPN debuts its latest 30 for 30: Shark and the Greg Norman Collapse at the 1996 Masters. That's tonight at 8:30 PM for that debut.

Remember we are one month away from the Sports Business Awards, May 18th in New York city. Buy your table or your seat for the event today on our website. Don't forget SBJ's first Twitter Space called Strictly Business this Thursday, April 21st at 2:00 PM Eastern Time. For more details, be sure to follow SBJ on Twitter @sbjsbd. So that is your morning Buzzcast for Tuesday, April 19th. I'm Abe Madkour. Hope everybody has a great day. Stay healthy. Be good to each other. I'll speak to you tomorrow.