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Welcome to Beyond The Sideline, the community resource for the next generation of sports business leaders.
Big Idea
This past month, the landscape of American sports wagering underwent a seismic shift not through the launch of a new sportsbook, but through the strategic erasure of a single word: "gambling."
Fanatics, the Michael Rubin-led juggernaut that has spent the last three years aggressively pivoting from licensed apparel to a "global sports platform," officially entered the prediction market arena with the launch of Fanatics Markets. Built in strategic partnership with Crypto.com’s Derivatives North America (CDNA), the platform represents the latest and perhaps most calculated move in Fanatics’ quest to own every vertical of the fan experience.
But before you call it a sportsbook, let me stop you right there. According to the folks in the C-suite, this isn't gambling. It’s "trading."
Sponsorships
The "House" has finally come calling for college athletics, and the bill is steep. With the House v. NCAA settlement mandating nearly $20.5 million in direct revenue sharing per school in its first year alone, athletic departments across the country are scrambling for liquidity. While some are looking toward traditional donors and others are tightening their belts, Big 12 Commissioner Brett Yormark is doing what he does best: breaking boundaries with a creative financial structure that aims to bridge the revenue gap without "selling the soul" of the conference.
This week, the Big 12 moved into the final stages of a landmark strategic partnership with Collegiate Athletic Solutions (CAS), a fund backed by the heavy-hitting duo of RedBird Capital and Weatherford Capital. The deal, which could infuse up to $500 million into the conference ecosystem, represents a sophisticated evolution in how institutional capital interacts with the collegiate model. However, to understand the true significance of this move, one must look past the headlines and into the specific mechanics that distinguish this from a traditional private equity (PE) play.
Daily News for Curious Minds
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By The Numbers
Numbers That Jumped Off the Page
12%- Reports of the RSN’s death may have been greatly exaggerated, as FanDuel Sports Network is seeing a major viewership surge for its NBA and NHL partners. The total NBA audience is up 12%, while the NHL has jumped a staggering 26%. The secret sauce? A mix of steady linear TV fans and a massive 56% explosion in streaming minutes.
30%- As the WNBA CBA deadline looms, the players' union is reportedly "frustrated" by a lack of progress in negotiations. The big sticking point? Revenue sharing. The players are reportedly asking for a 30% share, which is roughly double what the league has offered so far.
4.3 Million- The Heisman Trophy Ceremony made its big debut on ABC this week, and the ratings were a hit. Indiana QB Fernando Mendoza’s big win drew 4.3 million viewers, marking the ceremony's best performance since Johnny Manziel took the stage in 2012. With a 69% jump in viewership over last year, it’s clear that moving the "Stiff Arm" trophy to broadcast TV was the right play.
$13 Million- It turns out that winning isn't just everything; it's also expensive to stop doing. Manchester City reported a rare $13 million loss for the 2024-25 season, their first year without a trophy in nearly a decade. While they still raked in a massive $925 million in revenue, the lack of championship bonuses and a slight dip in commercial interest proved that even the biggest financial juggernauts feel the pinch when they aren't lifting cups.
Pulse Check
Last week, we asked BTS readers, “With YouTube TV planning a cheaper, sports-only subscription package, what's the most likely future for watching live sports?” Here’s what they thought.
Beyond scouting and player performance, where will AI have the most immediate impact on a team's bottom line?
The Highlight Reel
Catch up on our most-read articles from previous weeks
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