Menu
SBJ in Paris

Keep up with the latest from the Summer Games with SBJ's Rachel Axon

PUBLISHING NOTICE: The Closing Bell will not publish Thursday or Friday due to the July 4th holiday. The issue will return Monday, July 8.

Panthers see huge ticket revenue bump for Stanley Cup run...Party Shack unveils suites for Chicago Street Race...Manchester United to cut roughly 250 employees this summer

Panthers see huge ticket revenue bump for Cup run

By Alex Silverman

Andy Devlin/NHLI via Getty Images
The Florida Panthers, who have qualified for the Stanley Cup Final in back-to-back seasons, generated more than twice as much ticket revenue during the 2024 playoffs as they did in 2023. According to metrics provided by the team to SBJ, the team increased total playoff ticket revenue in 2024 by 122% from last year’s postseason.

The Panthers hosted 13 playoff games at Amerant Bank Arena during their successful Stanley Cup run this year, including four against the Oilers during the Stanley Cup Final. That’s up from nine playoff games in 2023 when the team lost to the Golden Knights in the Final. On a per game basis, ticket revenue was up 48% year-over-year.

Party Shack unveils suites for Chicago Street Race

By Bret McCormick

NASCAR Chicago
Party Shack will have 24 two-level spectator suites at this weekend’s NASCAR Chicago Street Race lining DuSable Lake Shore Drive between Turns 2 and 3. 

The suites are two-story trailers with built-in staircases; suites that are compliant with the Americans with Disabilities Act are also available. The indoor downstairs portion is climate-controlled with the top deck open air and ideal for viewing the race more broadly. The number of fans per suite varies but averages roughly 25 per suite. Pricing of the suites wasn’t shared by race organizers but includes food and beverage and private bathrooms, as well as access to pre-race events.

The deal is Party Shack’s largest rental contract of 2024 so far. The company also recently unveiled a four-suite setup outside of Allegiant Stadium that will be offered by the Raiders as a premium tailgating option. The suites feature all-inclusive food and beverage, games, a 55-inch TV, a large and open top deck and retractable awning. 

ManU to cut roughly 250 employees this summer

Manchester United's 1,150-strong workforce, "thought to be the biggest of any club in the world," will be "cut by 250 employees this summer to funnel more money into the football side of operations." The streamlined organization will "aim to ensure commercial efforts are focused solely on securing success on the pitch." There is a belief that the leadership in the previous decade "put too much emphasis on commercial growth and allowed costs to spiral." Staff were given the news "in meetings led by Jean-Claude Blanc," the club’s interim CEO, and "those in attendance said the mood was 'sombre.'" The cuts "will include all departments and levels of the club, except for the Manchester United Foundation," the club’s official charity partner (London TIMES, 7/3).

Temple prez has 'no plans' to end football program

Incoming Temple President John Fry said that the school's football program “doesn’t have anything to worry about” its future after he takes over. Fry said Temple “has a really proud football tradition” and he has “no preconceived notions and no plans to end the football program.” Eight years ago, when Fry was president at Drexel, he was “critical of college football programs in a piece he penned for the Wall Street Journal.” But now, Fry said that he considers Temple football “a major gateway” to the university and he “wants to learn more about the sports program at Temple” (PHILADELPHIA INQUIRER, 7/3).

Chargers induct Alex, Faye Spanos into team's HOF

By Austin Karp

L-R: Chargers Co-Owner and Vice Chairman, Michael Spanos and his wife Helen Spanos, Chargers Owner and Chairman of the Board, Dean Spanos and his wife Susie Spanos with Chargers Owner and Special Advisor to the Impact Fund, Alexis Spanos Ruhl and her husband Barry RuhlChargers
The Chargers on Tuesday inducted late owners Alex and Faye Spanos into the Chargers HOF at The Bolt, which is the team’s new facility and HQ in El Segundo, Calif. The event came just one month shy of the 40th anniversary of Alex Spanos purchasing the team. The small, private event for the Spanos family and a few others was moderated by Amazon’s Al Michaels and saw the unveiling of the Alex and Faye’s HOF plaques and a memorial garden dedicated to the couple. 

Big3 expanding to Houston with sale of third team

The Big3 basketball league has “sold its third team” ahead of a change in format next season, with the new franchise set to be based in Houston. The team is being acquired by energy execs Eric Mullins and Milton Carroll in a deal worth $10M. Carroll is also a minority owner of the Astros. The league is “looking to add new ownership groups” as it transitions to a model in which squads are “based in home cities.” The Big3 owned all of its teams when it formed in 2017 and has “since put all 12 squads on sale,” with outside investors acquiring the teams in L.A. and Miami (BLOOMBERG NEWS, 7/3). There has been "no announcement about where the team will play," but the league "often plays in NBA arenas." The Big3 hosted "a slate" of games at the Toyota Center in 2018 (HOUSTON CHRONICLE, 7/3).

D.C. posts best monthly handle after FanDuel switch

By Bill King

May brought the highest handle in D.C. since sportsbooks there began taking bets in 2020, breaking a record that stood since October 2021. D.C. operators handled $32.8M, a 171% improvement over last May’s $12.1M. 

The surge was driven by the District’s switch in March from exclusive online provider Intralot to FanDuel, which launched its app in D.C. in April.

With May results in from regulators in all but Illinois, Arizona and Kentucky, handle for the month was tracking 29% ahead of May 2023 in like states. N.Y. was among the top year-on-year gainers, posting a 45% increase to $1.97B.

DraftKings led FanDuel 41% to 38% for the month, the first time it has topped the state chart since September. 

Here are the results for May:

A-League cuts team distributions to 'stay afloat'

Australia’s “struggling” A-League has “slashed its club distributions” by more than $11.4M (all figures U.S.) in a “bid to stay afloat, heaping further financial pressure on its already stretched 13 teams.” For the upcoming 2024-25 season, clubs each will receive only $355,560, a move that “will result in every side having to find about another” $1.1M “to meet minimum salary cap requirements. Australian Professional Leagues Chair Stephen Conroy said that the move “was necessary after the league had burnt through” $94M it raised from global private equity giant Silver Lake “in less than two and a half years.” He added that the league itself was “poised to break even in the upcoming season” after two years of “substantial losses” (THE AUSTRALIAN, 7/3). 

Speed Reads....

The Triple-A International League Worcester Red Sox will honor the life and legacy of late Chair and principal owner Larry Lucchino with a commemorative patch featuring his initials "LL" on both their white and red jerseys for the remainder of the season (WooSox). 

The ECHL Cincinnati Cyclones announced a "new affiliation agreement" with the Maple Leafs, replacing the Newfoundland Growlers. The Cyclones spent last season as the ECHL affiliate of the Rangers (CINCINNATI ENQUIRER, 7/3).

California Gov. Gavin Newsom, former NFLer Marshawn Lynch and Wasserman Football EVP Doug Hendrickson are launching a podcast with iHeartPodcasts titled, "Politickin,'" which will feature conversations, offering listeners valuable takeaways and a deeper understanding of what it takes to excel in their respective fields (iHeartPodcasts).

Wilson has unveiled its new set of basketballs, the Wilson x Caitlin Clark Signature Collection -- Limitless Series. All three basketballs in the Limitless Series come in various sizes and will be available for purchase July 9 exclusively at Wilson.com and at select Wilson retail locations (Wilson).

Social Scoop....

Daily Download....

ESPN Deportes unveiled its latest marketing creative for the 2024 T-Mobile Home Run Derby, featuring comedian Marcello Hernández from "SNL."

Daily Digit....

1,509 -- Total number of hot dogs eaten in the annual Nathan's Hot Dog Eating Contest since records started being kept in 1972 (Nathan's).