commercial
Another year has passed impacted by Covid-19 for the world of sports. The sports business continues to suffer as tournaments, leagues are affected by Covid. Postponements, restrictions, and various other issues related to Covid-19 hampered the sport. Check out the 10 best sports business deals.
Countries and organizations around the world suffered financial problems. However, the IPL sale of two new franchises, the NFL Record Broadcast deal, and other deals still set new benchmarks for the year.
Check out the 10 best sports commercial offers of the year that affected the world of sports.
Top 10 Sports Business Deals
SPORTS Business Deals 2023 No 1:
A new benchmark was set for India and the world of cricket. BCCI managed to sell two new Indian Premier League (IPL) teams for a record $ 1.7 billion. RP-Sanjiv Goenka Group committed US $ 964 million to acquire the Lucknow-based team. CVC bought the Ahmedabad franchise for about $ 736 million.
The Glazer family, which owns Manchester United in the Premier League, failed in their attempt to acquire the IPL franchise.
SPORTS Business Deals 2023 No 2:
The biggest sports broadcast story of this year and perhaps several years to come landed in March when the NFL signed its new national television deals, raking in more than $ 110 billion over 11 years in the process.
The deals mean the league will remain on CBS, ESPN / ABC, Fox, NBC and Amazon from 2023 to 2033.
SPORTS Business Deal No 3:
Speaking of those who are investing increasingly large amounts of money in the sport, private equity firm CVC made investments in the IPL Ahmedabad franchise, La Liga and a partnership with the Federation Internationale de Volleyball (FIVB).
- Bought the Ahmedabad IPL franchise for 5625 Cr
- Invested from US $ 100 million to US $ 300 million for the creation of a new commercial entity to operate international volleyball events.
- CVC investments of more than $ 2 billion in La Liga
- Six Nations Rugby and CVC confirmed a £ 365 million investment agreement in the UK
SPORTS Business Deal No 4:
Saudi Arabia's controversial takeover of Newcastle United was completed in October. This ended Mike Ashley's troubled tenure as owner of the troubled Premier League club.
SPORT Business Deal No 5:
On the sponsorship front, rising tennis star Emma Raducanu became the new darling of the brands.
Raducanu capitalized on his surprising US Open triumph by claiming his first major endorsement deal. The deal was with the jewelry brand Tiffany & Co.
Raducanu, 19, of London, was voted the BBC's Athlete of the Year. He later signed deals with the bottled water brand Evian and the French fashion house Dior.
SPORTS Business Deal No 6:
Despite the drop in performance, Manchester United once again landed a record T-shirt sponsorship deal. Starting with Chevrolet, Man United signed a new sponsorship agreement with technology company TeamViewer. The deal is reportedly paying the club € 55 million a year.
SPORTS Business Deals 2023 No 7:
German sportswear giant Adidas found a buyer for Reebok in the form of Authentic Brands Group. The group agreed to a deal to acquire the Boston-based business for 2.1 billion euros.
The sale came 15 years after Adidas acquired Reebok for $ 3.1 billion in 2006.
World Wrestling Entertainment (WWE) made the surprising decision to shut down their WWE Network Over-the-top (OTT) service. They migrated to NBCUniversal's Peacock streaming platform in a five-year, billion-dollar deal.
SPORTS Business Deal No 8
Naomi Osaka took the tennis world by storm by skipping the French Open due to mental health issues. He diverted the media and defended social problems. The tennis ace landed multiple deals with the biggest of the brands. She signed up as face of Louis Vuitton, Tag Heuer, Workday and Panasonic.
SPORTS Business Deal No 9
In basketball, the NBA announced a billion-dollar eight-year betting data and streaming partnership with Sportradar. This is the most important agreement for any commercial sports league with a betting entity. This will give the league a three percent equity stake as part of the deal, beginning in the 2023/24 season.
SPORTS Business Deals 2023 No 10
DAZN also claimed its biggest deal to date when Italy's Serie A clubs greenlighted the € 2.5 billion offer of the subscription streaming service, giving it national coverage of the top-tier competition through 2024. .
