Big Ten says NO to Private Equity | Business Model behind the Baller League

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Chicago Marathon Winners Kiplimo, Feysa Earn $100K in Prize Money Every October, tens of thousands of eager (some would call crazy) marathon runners descend upon Grant Park for one of the largest marathons in the world. This year’s version drew a record number of interest. 160,000 people signed up, and after learning about the prize money, it’s easy to see why. The total purse was just under a million. Even though the top five finishers receive the bulk of the prize money, the Chicago Marathon is generous with its bonuses. For example, the top Illinois finisher usually gets $2,000, and the top American finishers earn up to $15,000. So even though the winners, Kiplimo and Feysa, were the only ones to take home six-figure earnings, the chance to win some bonus money made the grueling 26.2-mile trek worthwhile for many. The event has come a long way from its beginning days, where the purse was $350,000 total. Sportico breaks down the results of the race and how much each top finisher earned.

Blackhawks viewership triples on CHSN following Comcast carriage agreement There’s nothing like that new season optimism that hits every franchise before hockey returns. Fans come out in droves to the United Center, more than happy to forgive the bad taste of last season still left in their mouths. Hawks fans watching at home have shown their appreciation early on for regaining coverage of their team, thanks to the CHSN deal signed with Comcast. A drastic drop in viewership last season caused concern among CHSN and Hawks Chair and CEO Danny Wirtz. Even though the Hawks' performance didn’t warrant strong viewership numbers, it was still much lower than it should’ve been with normal distribution. In this short article, Wirtz credits CHSN’s negotiating stance for securing a fair deal for the network and the fans who had lost coverage. Wirtz hopes the new season's optimism is met with improved play on the ice before he has to eat his words if viewership craters.

Chicago International Film Festival Spotlights Local Talent, including a South Side Little League team The Jackie Robinson West Little League team had one of the swiftest falls from grace. They went from being celebrated in Millennium Park in 2014 as the U.S. Little League World Series champs to getting stripped of their title six months later. Most of the country threw their shade and then forgot about them. Now, the story will get retold through the lens of the now-adult Little Leaguers. “One Golden Summer” gives them a chance to share their perspective on the wild emotional rollercoaster ride at the Chicago International Film Festival. It’s one of six new movies directed by Chicago-based directors. They will all compete for the cherished Chicago Award at the nation’s longest-running competitive film festival. The documentary follows the boys and their families seven years after the fallout and during the COVID pandemic. It combines two incomparable moments in time — both for Chicago’s South Side and the world — in one film. Find out how to see a pop-up screening of “One Golden Summer” and other movies from Chicago-based directors here.

SPF To Bring Pickleball Courts To Hyde Park, Irving Park This Year Since opening its doors in Lincoln Park last year, Social Pickleball Fun has welcomed 26,000 people through its doors. Co-founder Rich Green believes one spot isn’t enough to spread the love of pickleball throughout Chicago. Both the Hyde Park and Irving Park locations are expected to open this winter. Once open, its Hyde Park location would become the first dedicated pickleball courts on the South Side. Pickleball has remained the nation’s fastest-growing sport for years. Over 48 million adults reported playing the game at least once as of 2023. With a global market estimated at a shade under $2 billion (and growing), Green is taking advantage of a gaping lack in pickleball courts here in Chicago. SPF’s Irving Park facility will even allow players to access the courts 24/7. It’s perfect for those fanatics up for a best-of-three run at 3 AM. SPF combines a hyper-competitive environment with a fun, vibrant vibe for any Chicagoan looking to stay in shape and have a good time. Block Club Chicago highlights the features of SPF’s newest facilities.

As Big Ten inches toward $2.4B private equity deal, a resistance has formed that may delay or nix the project entirely $2.4 billion dollars is a lot of money to balk at. For Michigan and USC, the cost of the deal is too high to justify. In a conference of 18 schools, only these two aren’t on board with the others regarding the PE deal. Under the terms of the deal, a unanimous decision from all schools in the conference is required for it to move forward. So what could have Michigan and USC willing to turn down over $100 million in upfront cash for each school? A 20-year grant of rights deal, the creation of the Big Ten Enterprises business subsidiary, and uneven distribution of conference revenues that would benefit three schools the most. The rift is a great case study on why conferences have been hesitant to welcome PE, despite the need for cash. PE may infuse cash-strapped universities with capital, but its demands may not align with education-focused universities. Even though Michigan and USC are now rivals on the field, they are united in their stance against the Big Ten’s potential entry into PE off the field. Examine the full implications of the PE deal the Big Ten is considering.

MLB Postseason TV Ratings Surge to Highest Levels Since 2010 Cubbies may have pulled the plug after a tough NLDS loss to the rival Brewers, but the rest of the country is tuning in to the MLB playoffs in droves. The regular season saw double-digit viewership increases across all networks. That momentum continued on through the playoffs, as 30% more people have watched through the NLDS than last year. The Canadians are all-in on the Blue Jays, with 9% of their country’s population backing them. It’s wonderful news for the MLB’s new broadcast partners in NBCUniversal and Netflix, who have both signed media rights deals with MLB worth about $250 million per year. MLB has made strides in popularity. It has seen a tangible impact with the addition of the pitch clock. Who knew more people would tune in when games don’t last 4 hours on average? Front Office Sports provides all the key figures to understand the surge in ratings.

College football programs could spend $200 million in buyouts. Spare us the money moaning The real MVPs of the college football buyout extravaganza going on this season are the coaches’ agents. How else can you explain the madness of schools paying in excess of $20 million minimum to fire coaches they were already overpaying? This college football season has seen seven Power 4 coaches fired before the halfway point, with more expected to come. The total could hit $200 million if other coaches on hot seats, like Luke Fickell of Wisconsin, do get fired before the season’s end. Yet, if you let the schools tell it, their pockets are tighter than ever. The absurd Jimbo Fisher contract Texas A&M gave him in December 2021 — a $90 million fully-guaranteed contract — was just one of many examples of lavish spending that season. Former Penn State coach James Franklin was one of those beneficiaries of a massive buyout and was recently sacked. He’ll get $45 million from them to sit at home and watch on TV like the rest of us. Quite a severance package to cushion an embarrassing, sharp fall from grace. The Athletic gives its take on how college football programs are their own worst enemies when it comes to coaches’ salaries.

The Business Model Behind The Baller League Across the pond, where soccer is king, the Baller League is disrupting the queen’s favorite sport. It takes six-a-side indoor soccer and adds its own unique twists, like bonus points for long-range goals. Gaining steam in the UK since earlier this year, the league is making enough waves to potentially come to the U.S. soon. Baller League is capitalizing on a sponsor-driven business model that allows it to focus on distribution and sidestep traditional media. It gains eyeballs through its celebrity managers in the dugout and with viral celebrations from its players. Youtubers like Angryginge, with a combined social media following of over 5.3 million, attract loyal fans and valuable viewers. Sponsors with a soccer background, like Pepsi and Nike, have signed on, providing a significant revenue stream for the upstart league. If the league truly catches fire and reaches the U.S. in time for the World Cup, it could captivate a much larger audience. Find out how else Baller League is taking over the UK.