Fever move Sky game to United Center | Sports Stocks Slump

Get up to speed with latest news impacting the sports business landscape in Chicago and beyond. 🗞️ 

United Center to host hotly anticipated Sky vs Fever matchups After a benchmark season in attendance and revenue, the Sky is ready for a bigger stage. Two games against the Fever during the next WNBA season will move to the United Center. The contests will be the first WNBA games hosted at the arena. These games will spotlight what has become one of the best rivalries in women’s basketball. When Angel Reese and Caitlin Clark play against each other, ratings records are usually set. They have attracted some of the largest audiences and best ratings, both in the WNBA and back in their college days. Tickets for the public will go on sale tomorrow. Sky season ticketholders will have first dibs on tickets at the United Center and demand has already been high. The Sky hope to begin an annual tradition at the United Center and not just with the Fever as opponents. The Sun-Times reports on the numbers behind WNBA games played in NBA arenas and when the Sky will take on the Fever.

World of Hyatt Steps up to the Pitch as the Official Sponsor of Chicago Fire FC It’s always nice to see two iconic Chicago brands work together. World of Hyatt, headquartered directly across from the Riverwalk, is the new official sponsor of the Chicago Fire who play at legendary Soldier Field. The multi-year agreement will provide fans with incredible benefits, enhancing their gameday experience. For example, fans staying at the Hyatt Regency McCormick Place will enjoy discounted rooms, discounted beverages, and get branded memorabilia. World of Hyatt will also sponsor the Benchside Seats, which give the most passionate fans the chance to show the refs and the other team some Windy City love up close. To learn all of the details of the collaboration, check out this press release.

Chicago Fire FC cut the ribbon on $100 million training facility on the Near West Side The overlooked Near West Side is finally getting some high-profile real estate development. On March 4th, the Chicago Fire had their ribbon-cutting ceremony to unveil its new state-of-the-art training facility. It replaces the site of the infamous former public housing development ABLA Homes. The facility covers 26 acres, includes 5.5 fields, and a 25,000-square-foot office and training building. It’s part one of the Fire’s attempts to transform itself. The biggest undertaking will be its plans to build a new 25,000-seat stadium in the South Loop. Owner Joe Manscueto calls the efforts vital since, “Chicago is a world-class city. It deserves a world-class soccer club”. Crain’s explores images of the new facility along with how the Fire are working with the Chicago Housing Authority.

Chicago tech incubator 1871 leaving the Mart after 13 years It’s the end of an era in a blow to Chicago’s tech startups. 1871 announced it is vacating its offices at the Mart last week. It will leave behind 40,000 square feet worth of co-working space in the latest example of Chicago’s diminished commercial real estate market. Office buildings around the city are at 52% of the pre-pandemic occupancy levels. A record 30.8% direct and sublease office spaces are available. 1871 has been a critical resource for tech startups since it launched in 2012. It has helped over 850 companies and raised $4 billion in venture capital. In the post-pandemic era, startups have largely chosen to scale their companies remotely, wasting the space 1871 had at the Mart. On a positive note, it doesn’t seem the non-profit tech incubator is shuttering its doors completely. 1871 still plans to serve the most innovative entrepreneurs in Chicago’s tech startup landscape. The Tribune reports on how many jobs 1871 has helped create over the years and how one of the most famous companies it has helped launch is encouraging workers to return to the office.

Jimmy Butler Sued for $250K Over Missed Rent, Damage to Miami Beach House Almost anyone who owns rental property and has had a nightmare tenant to deal with wishes they could rewind time to reject their application. Financial losses and damages from those tenants may be annoying but usually manageable. In the case of the Florida company suing Jimmy Butler, a fresh start isn’t nearly enough. Butler is accused of stiffing the company that owns the property he was leasing in Miami Beach. The totals? $260,000 worth of rent and reported damages worth over $100,000. The suit claims Butler didn’t vacate the property after the expiration of his two-year lease and he refused to pay two months of holdover rent based on the lease agreement. For the damages, the company says Butler let the pool become overgrown with algae outside the house. Inside, a leak from the air conditioning unit, which Butler had prevented the company from fixing, caused extensive damage to the ceiling and hardwood floors. The former Bulls player may be settling in well with the Golden State Warriors, but he’ll have to deal with this situation on the opposite coast. Check out all the vital details of the lawsuit here.

How the NFL Scouting Combine fuels NFL TV dominance despite lower ratings The NFL tends to act like Deebo from the movie Friday: it bullies other sports in TV ratings and revenue because it’s bigger. It even takes over holidays other sports previously claim, like it did with Christmas and the NBA, and dominates them. It’s rare to hear about any other sports overshadowing the NFL when it has an event broadcasted, which is the case with the NFL Scouting Combine. But that is only half the story. The 2024 NFL Scouting Combine averaged a six-year high of 251,000 viewers, even though it finished well behind an NBA game and a Premier League match. The Scouting Combine is a showcase of the next generation of talent but is usually an event of niche interest to only the most hardcore NFL fans. The NFL uses this event to keep its league on people’s minds year-round. NFL Network earns lucrative affiliate fees estimated at over a billion this year, thanks to the combine and other exclusive coverage it gives subscribers. Learn more about how many people watch the NFL Scouting Combine compared to other sporting events taking place at the same time and the combine’s revenue implications.

NCAA Shows Revenue Increase to $1.4 Billion and $166 Million Surplus in 2024 Fiscal Year Everyone’s favorite supervillain keeps getting stronger. The NCAA, which fought for years to make as much money off its athletes without paying them, reported its highest revenue in two decades. It ran at a surplus of almost $166 billion last year. NCAA earns most of its revenue through multimedia and marketing rights, ticket sales, and investments. But all is not just business as usual. An audited financial statement shows the impact of three antitrust cases at the final stages of a proposed settlement. Payments for the settlement will be spread over 10 years so the financial impact will be a drop in the bucket for the NCAA. It will earn nearly a billion just for the media rights for March Madness this month. USA Today details how much the proposed settlement is and the NCAA’s recent revenue numbers.

Serena joins ownership group for WNBA's new Toronto Tempo team Serena Williams made her pro tennis debut at age 14 in Canada 20 years ago. She’s coming full circle as she makes her debut as a part-owner of the first Canadian WNBA franchise. The Toronto Tempo will begin play in the 2026 season and Serena will play an active role in aspects of team management, including future jersey designs. It’s not the first venture into ownership for Serena or even with a professional women’s team. She owns a stake in Angel City FC, the LA-based women’s soccer club. From what it looks like, she’s just getting started. It helps that she made over $94 million in her incredible tennis career and married Reddit co-founder Alexis Ohanian, worth $150 million. See where else Serena has ownership stakes.

Sports Stocks Slump in February as Consumer Spending Worries Emerge February was a cold month for sports stocks, colder than the general S&P 500’s month. Sports stocks dropped 4% last month, part of broader trends of changes in consumer confidence. The S&P 500 was down 1%. Inflation and higher global freight rates were big factors in the drop in discretionary spending, which sports stocks fall under. Not all sports stocks took a hit though. Three of the top performers included EA (Electronic Arts), Take Two, and Fox Corporation, which was up the most of anyone at 12%. Fox is riding a wave of momentum that began with a strong World Series in October, continued through political ad spending with the November 2024 elections, and hit a high note with the Super Bowl last month. Sportico dives into the best and worst performers among sports stocks in February.