FOS PM: NFL slows down crypto and NFTs

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Labor Day weekend is upon us, signaling the last weekend with no professional football to watch until mid-February. Enjoy your free time!

The National Football League is evaluating the cryptocurrency and NFT industries and banning teams from sponsoring companies directly involved in the production or sale of these assets in the meantime.

32 League teams are not allowed to sell ads or sponsorships to cryptocurrencies, cryptocurrencies, and other companies that sell blockchain assets, as well as publish their own NFTs, according to The Athletic.

The advice was released ahead of the New York Giants’ deal with Grayscale Investments in May. Although Grayscale offers assets to investors who follow the cryptocurrency market, like index funds, it does not sell crypto coins or other blockchain assets, so the partnership has been allowed to continue.

Other leagues are diving head first into the evolving world of digital assets.

NBA Top Shot, created through a partnership between Dapper Labs and the NBA, has generated $ 675 million in sales since its beta launch in May 2020. At least a dozen NFL players have invested in Dapper Labs. MLB started an NFT Marketplace with Fanatics. Candy Digital in July, with the first asset sold for $ 70,400. Teams around the world have adopted crypto sponsorships: The FTX crypto market has signed naming rights agreements for the Miami Heats arena for 19 years, the $ 135 million arena and the UC football field Berkeleys for 10 years, $ 17.5 million. Inter Milan have entered into a multi-year, $ 101 million shirt deal with blockchain company Zytara Labs.

Players are allowed to have sponsorships from crypto and blockchain companies. Tom Brady and first draft pick Trevor Lawrence both have deals with FTX. Brady launched his own NFT platform, Autograph, in August.

Netflix and Box to Box, the company that produced the Formula 1 Drive to Survive docuseries, are teaming up on a similar PGA Tour-focused project.

The series will be modeled after Drive to Survive, which is currently filming its fourth season. Vox Media is also the producer of the PGA Tour show, which will initially focus on the 2021-2022 season.

Several top golfers have already agreed to participate, according to Golf.com. Tony Finau, Rickie Fowler and Cameron Champ would be very interested, and Vox Media executives would court Justin Thomas and Bryson DeChambeau.

Drive to Survive is credited with driving a 99% year-over-year increase in social media engagement in 2020 on Facebook, Twitter, Instagram and YouTube among all sports leagues.

F1’s audience held steady at 87.4 million per Grand Prix in 2020 despite cancellations and other challenges related to the pandemic.

The PGA Tour is looking for similar growth.

The golf tournament series lags behind 18-34 year olds, with 24% of that cohort saying they had never heard of it in April. Audience for the PGA Tour increased by 30% in 2021 compared to last year, on March 11. In March, the PGA Tour signed nine-year media deals with NBC, CBS and ESPN, estimated at around $ 640-700 million per season.

Netflix is ​​also working on a series about NASCAR driver Bubba Wallace and WWE owner Vince McMahon. Peacock was reportedly close to a $ 25 million deal last month for a series on Magic Johnson last month.

The Arizona Coyotes have submitted a proposal to build an arena in Tempe after calling Glendale home since the 2003-04 season.

It’s unclear how much the site would cost, but other NHL arenas have ranged from $ 375 million (T-Mobile Arena in Las Vegas) to $ 1.15 billion (Climate Pledge Arena in Seattle).

The bid for the new facility would include transforming 46 acres of land near Tempe Town Lake into an arena and entertainment district, but they will likely need an interim solution until the new site is built.

Glendale said he would not renew his lease with the Coyotes at Gila River Arena last month, forcing the team and its administrative staff to relocate by June 30, 2022.

A letter from Glendale city manager Kevin Phelps revealed that the Coyotes owed the arena more than $ 1.4 million as of July 17.

In the letter, Phelps clarified that the city had agreed to forgo a large sum of money owed to the arena and that the Coyotes had agreed to keep abreast of financial obligations in return. This did not happen, he said.

AEG Facilities, the company that operates the arena, is paid $ 5.6 million by the city each year under a contract that lasts until June 30, 2026. The contract states that if the Coyotes leave, AEG can also leave. But that might not happen, a study conducted by Phelps said that 20 events with 10,000 or more participants would produce the same economic effect as the 43 home games.

Owner Alex Meruelo bought the team for $ 300 million in July 2019.

In today’s Leadoff, the latest Apple Watch will have new health features, JD Sports may be required to sell Footaslyum, Nautilus has acquired a leader in movement technology, and the Pac-12 will allow college athletes to get licenses for video footage and highlights. Click here to listen. (Note: All at market close on 09/21/21)

Looking for something to binge on at the end of summer? Check out Doom Patrol on HBO Max Seasons 1 and 2 are available now, and Season 3 will debut on September 23.

How to watch: Stream exclusively on HBO Max. *

Doom Patrol reinvents one of DC’s most beloved superhero groups, a gang of misfits where each member’s source of power is an accident that also left its mark on them. These heroes are out of luck, but they get away with it and fight for the greater good, no matter how much the world rejects them.

With: Brendan Fraser, Matt Bomer, Rita Farr, Diane Guerrero, Timothy Dalton

FOS POV: If you are counting the days before professional football starts and you need some entertainment to occupy your time, look no further. Doom Patrol has a star-studded cast, a gripping storyline, and several seasons filled with epic episodes that will have your blood pounding like a close match on Sunday.

* Sponsored content. Streamed exclusively on HBO Max.

In addition to winning equipment, each sponsorship will earn an entry to the ElClsico 2022 ticket competition! ESPN is La Liga’s new home in the US Follow the world’s best soccer league with the best stars, on all ESPN platforms.

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