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On the 597th Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, including an update on the Milwaukee Brewers’ Timeless Ticket fiasco.
Following pushback from fans that bought the $1,000 tickets back in 2015, the World Series-bound Brewers said Tuesday that they’d erred in their handling of the promotion. The MLB team said they would find space for Timeless Ticket holders during this World Series, and would allow them to keep their rights to redeem for another game in future seasons. In saying that the team “did not live up to the spirit of the program,” the Brewers issued a rare public apology for a poorly handled situation.
Next the hosts talk about big finance news out of the NFL. The league is partnering with private equity giant General Atlantic on a new investment vehicle that should dramatically increase the money the league invests in businesses tangential to football. It should also create a brand new revenue stream for the NFL. As the fund’s general partner, the NFL will collect some management fees and carry on the investments, a consistent and bankable income stream that is not shared with players as part of the salary cap.
The hosts discuss 32 Equity, the league’s current investment arm, and how that fund’s early deals likely provide a roadmap for the types of investments that the NFL and General Atlantic may pursue.
They close by talking about the New York Knicks‘ championship rings, the NBA‘s new talk about a franchise in Mexico City, and new recent Sportico story about franchise appreciation compared to the public markets.
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