Money honey
From The GIST Sports Biz (hi@thegistsports.com)
Hi there!
The women’s March Madness tournament was one for the history books and the sportsbooks. Data from DraftKings, FanDuel, and BetMGM show that the women’s title game was the most bet on women’s sporting event of all time, with FanDuel reporting a 155% increase in money bet YoY. Talk about a jumper.
WNBA
💰 Time to get paid
The GIST: The WNBA already believes Caitlin Clark will have a Tiger Woods–like effect on women’s pro basketball, so they’re betting big on her and the rest of 2024’s stacked draft class. On Monday, WNBA commissioner Cathy Engelbert confirmed to CNBC that the league is looking to double its fees in its next media rights deal. That’s money, honey.
The deal: The WNBA reportedly earns about $60M annually from its current media rights deals, primarily with Disney, Amazon Prime Video, and Ion. The league is in joint negotiations with the NBA and Disney, and although ESPN’s Jimmy Pitaro expects the leagues to finalize a deal together, the W could break away for a separate, more lucrative deal.
- In March, former ESPN executive John Kosner told Front Office Sports that the WNBA is pushing for a media rights deal worth between $80M and $100M annually, but that was before Clark tore through March Madness and reset the bar for women’s basketball viewership.
The Clark Effect: Everyone expected Clark to bring more eyeballs to the W, but the final numbers on her college season are unprecedented. She generated approximately $82.5M for Iowa’s economy, while the Hawkeyes broke viewership records at every level of the tourney, culminating in a title game that drew 18.9M viewers and beat out the men’s championship viewership (14.8M) for the first time ever.
- Plus, she’s already having an effect on her likely WNBA landing spot — Indiana Fever home opener resale tickets have risen past $500 and other franchises see around a $100 price jump for games against the Fever compared to against other teams.
Zooming out: With the NBA looking to complete its deal by this summer, the WNBA has a few months to explore options. The W is unique among women’s leagues in its relationship with the NBA, but women’s sports have traditionally been held back by deals worked out with men’s sports in mind, such as the FIFA World Cup and the former NCAA bundle for women’s March Madness.
- The W may not see the same jump the NWSL got for its $240M deal, but Clark’s popularity should make for great leverage. As Engelbert put it, “we’re setting this league up not just for the next three to five years with this next media rights deal, but for the next 30.” Ready for it.
📚 The GIST’s Book Club: Reviewing Sidelined: Sports, Culture, and Being a Woman in America
Looking for the perfect book to fire you up this Aries season? Sidelined: Sports, Culture, and Being a Woman in America, is an enraging look at misogyny across sports media.
Author Julie DiCaro unflinchingly shares her personal experiences in the sports industry. As women working in sports, we know firsthand how tough it can be.
TL;DR: This book is a must-read for sports fans. It’s short, hard-hitting, and important — just like DiCaro’s 2016 #MoreThanMean video.
Looking ahead, April’s book club pick is Fangirl Down by Tessa Bailey. Read along on Fable, and join our book club list to stay up-to-date.
🏀 Overlapping March Madness tournaments in different locations cause issues for NCAA
Front Office Sports detailed how overlapping Final Four events have become a logistical nightmare for the NCAA, meaning it should either host both in one city or split them between two weekends. If it does the former, Las Vegas could be an interesting place to test the concept, especially as the WNBA’s Las Vegas Aces continue to grow women’s basketball interest in the city.
- This could mean endless opportunity for activations and collaboration with the Aces, while on the men’s side, it could further prove that Vegas is a viable option for the NBA’s next expansion franchise. It’s time to double down.
🏟️ Chicago Red Stars upgrading match to Wrigley Field this summer
Following in the footsteps of the PWHL, the NWSL’s Chicago Red Stars will move its June 8th match vs. Bay FC from its 20K-seater home SeatGeek Stadium to 41.6K-seater Wrigley Field, a historic Chicago landmark that’s more accessible to locals. The move could help cultivate new fans and is a smart play as the team seeks a home closer to downtown Chicago amid a push for public funding.
💸 Paramount Global may get scooped up in Skydance Media acquisition
Skydance Media CEO David Ellison is looking to acquire National Amusements, Shari Redstone’s family company that owns CBS parent Paramount Global. If the deal goes through, Redstone would receive over $2B in cash, while Paramount Global would acquire Skydance in an all-stock deal worth about $5B.
💊 OPill — the first daily birth control pill available sans prescription in the U.S. — announced a multiyear partnership with the WNBA. The best kind of crossover.
🍀 TNT Sports and the WNBA reached a multiyear agreement allowing the network to broadcast at least 16 regular-season games each season in the UK and Ireland.
🏅 NBC Sports has already locked in a near-record $1.2B in ad commitment for the Paris 2024 Olympics, which is expected to generate the most ad revenue in history.
🥌 The Curling Group reached an agreement to buy the Grand Slam of Curling from Sportsnet as they look to revamp and better monetize the sport. Building it brick by brick.
💼 Athletes Unlimited named CNN and Bloomberg veteran Allie Kleva its chief growth officer to amplify brand awareness.
👀 A new FTI survey indicated low consumer interest in the joint sports streaming bundle from ESPN, Fox, and Warner Bros. — but there is high interest in a Peacock-Paramount+ bundle.
👟 Women’s basketball shoe brand Moolah Kicks reported a 70% increase in overall sales YoY.
🎓 The NAIA voted to ban trans women from women’s competitions, leading to questions about whether the NCAA will follow. If you’re a woman, you should play.
Giveaway Alert
Spring is in full bloom, with flowers growing and birds chirping. And that means it's the perfect time to elevate your fitness routine by heading outdoors.
- Prep for your sun-soaked sweat sessions by investing in quality shoes, comfortable leggings, and more.
- Enter this contest today for a chance to win a $500 gift card to your preferred sporting goods store so you can stock up on all your fit faves. Time to carpe that diem.
Recs from our roster!
🎾 What you probably didn’t know existed
The Spider-Man star to tennis film pipeline. Zendaya’s new movie Challengers, continues this trend after Kirsten Dunst and Emma Stone starred in tennis roles of their own.
📕 What to read
Fangirl Down by Tessa Bailey. The GIST Book Club is er, fangirl-ing hard for this one. Read along with us on Fable.
⚽ Who’s killing it
Michelle Alozie. Or saving it, rather. When she’s not shining on the NWSL’s Houston Dash or leading Nigeria to the Olympics, she’s also deeply involved in pediatric cancer research. What can’t she do?
Today's email was brought to you by Aryanna Prasad and Briana Ekanem. Fact checking by Bonnie Lee. Editing by Lindsay Jost. Operations by Elisha Gunaratnam and Lisa Minutillo. Ads by Lauren Tuiskula, Dee Lab, and Alexis Allison. Managing edits by Molly Potter and Ellen Hyslop.