The Masters is right around the corner, and this year’s rendition should be as epic as always
According to WalletHub, over 250,000 people should make their way to Augusta, Georgia, this year to join in on the weekend’s festivities, while millions more will tune into the live action from home. Over the last 60 years, we’ve seen exponential growth in media coverage of the pursuit for the green jacket, both in the lead up to the event and during the competition. This is exemplified by the 620% increase in live telecast hours for The Masters from 1956 (2.5 hrs) to 2016 (18 hrs). In terms of the actual green jacket, the iconic prize for the annual winner of The Masters, it costs only $250 to produce the coat, though it holds more prestige and honor than that figure. Augusta National uses its promotional platform as the only major not to rotate on a yearly basis. The traditions continue.
It’s official: The Oakland Raiders are moving to Las Vegas.
According to the Las Vegas Review-Journal, after a “landslide” 31-1 vote by NFL owners, the Raiders’ move to Las Vegas has been approved; the only team to vote against the move was the Miami Dolphins. Despite sources claiming that NFL Commissioner Roger Goodell and the league wanted to keep the team in the Bay Area, their inability to find a new stadium site eventually forced the move. Goodell said that the plan is for the Raiders to “play in Oakland until the 65,000-seat domed stadium is built” for the 2020 season. But there is already a “move afoot among Alameda County politicians to break a pair of one-year lease agreements with the team and immediately force them from the city.” The Raiders were a candidate to relocate to Los Angeles, but that void has since been filled by both the Rams and Chargers. The NFL should now enter a deserved era of “market stability.” The league can now focus on Canada, Mexico, UK, Germany, and other international opportunities. As for Las Vegas, it gets a facility not only for the Raiders, but University of Nevada Las Vegas, major conventions, concerts, Final Fours, and Super Bowls (probably on a regular basis).
Now that the Oakland Raiders are set to move to Las Vegas, the next order of business is building a stadium.
According to SportsBusiness Journal, the team’s proposed $1.9 billion stadium could wind up costing $200 million less, ending up at $1.7 billion. A source close to the team “got the information from a copy of the relocation resolution NFL owners” voted on last week. “The resolution also discloses there is another $200 million public subsidy from Nevada for capital improvements, in addition to the publicized $750 million raised from a bed tax.” The team may eventually need to borrow only around $500 million to help finance the stadium, significantly less than what many speculated the Raiders would need. The Raiders still have a two-year lease to play in Oakland, but the team could play at UNLV’s Sam Boyd Stadium as early as 2018. The NFL has finally achieved an unprecedented period of “franchise market stability” after the Las Vegas relocation is complete.
As a final decision on the 2024 Summer Olympics Games host draws closer, the Paris 2024 bid is gaining momentum after the bid’s organizing committee was given an honor for exceptional sustainability.
According to Paris 2024, the committee was “awarded International Organization for Standardization (ISO) 21021 certification, becoming the first ever Olympic and Paralympic Games candidate city to do so.” The certification is regarded as highly prestigious; it is “an internationally-recognized standard handed out to event organizers that are able to guarantee sustainable management of major global events.” SGS, the Swiss-based audit body that awards this certification, found that the Paris 2024 Organizing Committee “excelled in four key areas of sustainable, responsible event planning: social consultation, commitment to stakeholders, governance and legacy.” Paris’ only competitor for the 2024 Olympics is Los Angeles, currently a slight underdog. The ongoing drama between Paris and Los Angeles continues to intensify. As of now, both sides disdain the thought of a 2024 and 2028 joint selection. Each one wants the earlier Games, but it will set up an interesting dynamic two or three months from now.
With mere months left until the planned opening date, the Atlanta Falcons are facing serious concerns over the functionality of their new stadium’s retractable roof.
According to the Atlanta Business Chronicle, the Mercedes-Benz Stadium has been having some serious roof functionality issues, causing two significant delays. The Georgia World Congress Center Authority (GWCCA), the state agency that owns the stadium, notified the Falcons it was “receiving inquiries about whether the roof will work.” The roof is supposed to be a showcase feature of the new $1.5 billion stadium, with “multiple petal-like panels that can open and close to let in various amounts of sunlight.” The stadium was originally set to open on March 1, but a third delay is likely to push that date into August. Mercedes-Benz Stadium’s first scheduled event is an Atlanta United match on July 30, followed by two more United matches in August and two Chick-fil-A Kickoff college football games in early September. The roof for this stadium continues to be a showcase of modern technology. The industry holds its breath as the technical folks attempt to resolve problems.
The Buffalo Bills Are Attempting To Rework Multiple Facets Of The Team This Offseason, Outside Of The Team’s On-Field Performance
According to ESPN.com, the Bills have “hired a talent consultant to work with their coaches and players” to improve the team’s public image. Gerry Matalon, a former talent coach for ESPN, is “advising Coach Sean McDermott.” Matalon’s role “might also expand to include developing” GM Doug Whaley’s public image. The team came under scrutiny late last season, so this comes as a significant move for the franchise. Simultaneously, while the Bills are not pushing for a new stadium, they recognize that New Era Field is a “solid, but outdated stadium…” The team’s current lease is set to run through 2023, so while no immediate plans exist for a new stadium, Bills owners Terry and Kim Pegula acknowledge that the team will most likely need one by the end of the lease. The marketing of the Bills in the western New York/Toronto region has been tricky. Fan intensity is unquestioned, but team mediocrity and lack of playoffs has diluted some of the spirit. New stadium issues are inevitable, though not now.
English Premier League Club Everton Has Been Told That The Design Of Its New Stadium Could Make Or Break Its Chances Of Landing A Multi-Million-Pound Deal
According to the Liverpool Echo, the club has been “warned” about the difficulty of landing a lucrative deal in a “buyers’ market.” The club has agreed on a deal to buy a plot of land at Bramley Moore Dock, and funding for the new stadium is expected to be ratified very soon. Sports sponsorship agency Synergy CEO Tim Crow said that the search for a naming rights partner “is becoming an increasingly crowded market in the Premier League.” If the team wants to land the money it hopes for, the physical structure will have to set it apart from competitors. “The sponsorship market in the U.K. is the softest it has ever been, there are a huge amount of major sponsorships unsold, it is very difficult to sell,” noted Crow. Most executives grapple with ongoing conversations about naming rights coupled with new stadium development or existing stadium modernization. Clearly, the link between the two reflects ongoing commercial and market realities.
The Detroit Lions have made it clear to the NFL that they want to host the Super Bowl, but would also settle for the NFL Draft
According to the Detroit News, despite a clear intent on attracting the Super Bowl, it remains unlikely that Ford Field will host the big game anytime soon due to multiple state-of-the-art facilities opening these days; over the next four years, three Super Bowls will be played at new stadiums (Minneapolis in 2018, Atlanta in 2019, and Los Angeles in 2021). Lions President Rod Wood is not discouraged by this, however, and thinks the NFL Draft would be a great fit for the city. “It’s a centrally located market,” said Wood. “It’s easy for fans to get to. Our airport isn’t anything but a great airport. I think the Fox Theatre would be a great location.” Another good example of the long-term mobility of the Draft location interesting many NFL teams that might not otherwise secure a Super Bowl in the short-term.
With The Raiders Pending Departure From Oakland, The A’s Can Now Start To Focus On Their Own Plans To Find A New Stadium
According to the San Jose Mercury News, A’s Managing Partner John Fisher needs to “seize this rare moment,” as the club looks to build a new ballpark either at the Oakland Alameda-County Coliseum site or elsewhere in the city. Soon to be the last team standing in Oakland, with the Raiders moving to Las Vegas and Golden State Warriors moving into San Francisco, the A’s can leverage their situation to find a new home in the area. The recent ownership takeover this past December means that the team is likely to stay in Oakland, but not unless new President Dave Kaval is willing to spend some money to keep the team there. History has told us that once a team departs, the remaining team gets its political calls returned quicker than before. Surely, the A’s will attempt to take advantage of this momentum and ongoing opportunity.
While Many Professional Sports Teams Are Looking To Build New Stadiums These Days, The Colorado Rockies Are Content
According to KUSA-NBC, the Rockies and the Metropolitan Baseball Stadium District have “reached a 30-year lease agreement for Coors Field” worth $200 million. Only $75 million of that sum will actually be used to rent Coors Field itself, as the club will now pay $2.5 million for the next 30 years to rent the ballpark. The other $125 million of the deal with be “paid to the District to lease the West Lot parking area for 99 years.” The West Lot payments are “front-loaded, where the District receives” $7.5 million each year “for the first five years,” followed by $5 million a year for 15 years, then $1.25 million for 10 years. For years 31-99, the Rockies will “only pay $100 each year.” The longevity of this agreement shows the Rockies’ contentment with their current stadium. Most facilities built 15-20 years ago are now in the “major renovation” phase. In almost all cases (except maybe for Phoenix), the public/private partnership has worked well enough to seamlessly amend the lease to include fan amenities and other technological innovations into the foreseeable future.