Hot off the press
From The GIST Sports Biz (hi@thegistsports.com)
Happy July 4th eve!
Breaking last night, Disney CEO Bob Iger and his wife Willow Bay are, reportedly, close to finalizing the purchase of a controlling stake in Angel City FC, the most valuable women’s sports franchise in the world with an estimated valuation of more than $300M.
- While that sorts itself out, we’ll be out of the office for the long Fourth of July weekend, and we hope you’re doing the same! See you back here on Monday.
Athletes Unlimited
🥎 She’s all that
The GIST: Athletes Unlimited (AU) just recruited a major heavy-hitter to headline their brand-new softball league: MLB front office veteran Kim Ng. The longtime baseball exec and first-ever female MLB general manager (GM) is now joining the Athletes Unlimited roster as a senior advisor to oversee the development of the Athletes Unlimited Softball League (AUSL). Good eye.
The details: Ng will use her pro baseball expertise to develop the traditional-style softball league, which will field four teams playing a 30-game season (60 total games for the league) in 2025. This format is notably different from AU’s usual fantasy-forward approach to its four sports, most of which features a month-long tournament-style competition with rotating rosters and one individual champion.
- The plan is that Ng will work closely with AU CEO Jon Patricof and the SVP and director of softball Cheri Kempf. Teamwork makes the dream work.
The resume: Ng first made history in 1998 when she became the youngest assistant general manager (AGM) for the NY Yankees, where she won three World Series rings. After spending 21 years across three MLB front offices, Ng became an MLB SVP in 2011. In 2020, she took up the GM mantle with the Miami Marlins before leaving her contract early in 2023.
- Ng also has a connection to softball, a sport she played at the University of Chicago while earning her public policy degree.
- Then, during her time at MLB, she served as the league’s representative on the USA Softball board where she worked with former and current Team USA softball players to grow the game at a grassroots level. A real utility player.
Zooming out: Softball is on the rise(ball). Just last month, the 2024 Women’s College World Series drew a record 2M average viewers, up 24% YoY. Three weeks earlier, AU invested in a five-year stadium lease to keep its Pro Softball tourney in its Chicago home, then announced AUSL on June 4th.
- Considering the traditional-style league is new territory for AU, it makes sense to tap someone who knows the game at the player and exec level.
- When explaining her decision, Ng paraphrased the popular “it’s a movement, not a moment” tagline that’s been consistently applied to women’s sports. It speaks volumes that a seasoned sports exec isn’t only focused on women’s sports in general but on specifically building this new league.
U.K. Women’s Soccer
⚽ You’re Reading that right
The GIST: Despite the rising popularity of women’s soccer in the U.K., the standing of Reading FC Women has dipped from bad to worse. Per SportsPro Media, the team, which played in the second-tier Women’s Championship (WC) last season, recently applied for fifth-tier status as finances have rendered the club unable to meet WC’s compliance requirements.
- For context, Reading played on the top-tier Women’s Super League (WSL) pitch just 13 months ago and finished in the top half of the 2019–20 WSL table before a quick and painful fall to the fifth tier — a regional league in southern England. Ouch.
The details: Reading officially announced their withdrawal from the WC on Sunday — which England ’s Football Association has already approved — meaning the division will operate with 11 teams rather than 12 next season.
- Of note, 2024–25 will be the first season under the newly created NewCo organization, which will govern the U.K.’s top two women’s soccer flights: the WSL and the WC.
- The club will now miss out on the benefits to come with NewCo, including a 25% share of pooled commercial revenue.
The club: Reading was established in 1871, although the women’s side didn’t launch until 2006. The club joined the top flight WSL in 2016 and “[punched] above their weight” for several years before being relegated to the WC for the 2022–23 season.
- Former Reading captain Kelly Chambers was integral to the team’s WSL success as the director of women’s football from 2015 to 2023, when both she and longtime Reading coach Phil Cousins left the squad. End of an era.
The financial issues: Reading has been plagued with controversy under current owner Dai Yongge, a Chinese businessman who purchased the club in 2017. In January, an English Football League (EFL) statement said Yongge “is no longer in a position — or does not have the motivation — to support the club financially.” He was encouraged to either adequately fund the club or sell his majority share.
- Amidst their messy financials, the club is facing unpaid tax bills and over $242M in cumulative losses.
- Yongge put the club up for sale in March, but there haven’t been any takers. At one point, England national team stars and former Reading players Fran Kirby and Mary Earps were part of a group aligning to buy the team, but the deal ultimately fell through.
Lingering questions: The Reading problem brings up a bevy of questions, including whether or not the brother-sister format of many U.K. clubs is truly beneficial for women’s sports. There’s also a query around what brands and sponsors can do to hold ownership accountable, and if leagues should consider more rigorous vetting for ownership of women’s sports properties. Loads to think about.
🎟️ Caitlin Clark continues her Eras Tour through the WNBA with record crowds, ticket resales
The Caitlin Clark Effect is still raging, with Clark pulling another historic crowd at an opposing stadium last night as over 18K fans packed into T-Mobile Arena to watch the Indiana Fever vs. the Las Vegas Aces. It’s even more than Sunday’s Fever vs. Phoenix Mercury game that brought a sellout 17K crowd to the Footprint Center, the largest since 1997.
- Like the Swift Effect, the Clark Effect is influencing another corner of the entertainment market: ticket resales. Ticketing platform Logitix published a report yesterday that found the average 2024 WNBA resale ticket price is $87.75, up from $50.10 last season. Ready for it.
🤝 Gannett and OpenSponsorship team up to capitalize on ad sales
USA Today parent Gannett and influencer-driven marketing platform OpenSponsorship announced a new partnership last week that harnesses the power of content creators to drive revenue for national and local newspapers.
- USA Today, in turn, plans to offer advertisers access to OpenSponsorship’s 20K-creator community of athletes, artists, and musicians to complement its traditional website ads. Now that’s how you play the game.
📈Sunday’s U.S. Olympic Gymnastics Trials averaged 7.6M viewers across NBC and peaked at 8.2M, making it the most-watched Olympic trials since 2016.
🃏 Panini America launched the Caitlin Clark Collection on Monday. The 24-pack of trading cards is now available on Panini’s website and at Target locations across the U.S. Hot off the press.
💸 CNBC announced the launch of CNBC Sport — the network’s dedicated sports business vertical — alongside plans to partner with Boardroom for its second annual Game Plan Summit yesterday.
🏛️ NIL influencers could be subject to lawsuits for not disclosing paid product partnerships in their content, according to a recent ruling by a U.S. federal judge.
🤸 NBC Sports continued its Olympic celebrity collabs with Monday’s video drop featuring Grammy Award–winning artist SZA and Team USA athlete Simone Biles discussing gymnastics. Good days.
🏀 On Monday, University of Miami basketball (and TikTok) stars, twins Haley and Hanna Cavinder, inked a three-year NIL deal with Under Armour that extends beyond their final college season. The Cavinders will feature in UA campaigns and offer product input as part of the deal.
📺 Bally Sports’ regional sports networks, which serve 2.09M subscribers across 21 states, went dark on Altice USA’s Optimum cable systems on Monday after the two sides failed to renew a legacy carriage deal. Drivin’ away.
Together With Heineken Silver
Ready to add a dash of spontaneity to your summer travel plans? Heineken has you covered: By entering their Stars of Summer contest, you and a friend could win a surprise getaway for free.
- In collaboration with Pack Up + Go, Heineken’s giving away a completely curated vacay. The thrilling catch? The winner won’t know where they’re headed until the day they depart. A wanderlust woman’s wildest dream.
Peep our squad’s MVPs (Most Valuable Picks):
🇺🇸 Who to watch
The Walsh sisters. The Virginia swimmers are making big waves as the first sisters to compete for Team USA since 1948. Plus, their Sporti swimwear collection is a poolside must.
🎧 What to listen to
Rebound Revolution, a “not-so-basketball basketball podcast” covering the revolutionary on- and off-court happenings in women's hoops. Hosted by Dr. Money McEachern, our co-founder Ellen Hyslop recently featured on an episode.
🌍 What to re-watch
Vogue World Paris. Fashion, sports, and celebrities kicked off Paris Couture Week with a unique fashion show that saw sports royalty like Serena and Venus Williams and Joe Burrow strutting their stuff. Iconic.
Today's email was brought to you by Aryanna Prasad and Briana Ekanem. Fact checking by Bonnie Lee. Editing by Dee Lab. Operations by Elisha Gunaratnam and Lisa Minutillo. Ads by Katie Kehoe Foster and Alessandra Puccio. Managing edits by Ellen Hyslop.