Tonight in Unpacks: Industry reaction to the Big 12's exploration of a naming-rights deal and private equity investment shows concern as college athletics ramp up the search for new revenue in the wake of the House settlement.
Also tonight:
- Smith Entertainment Group closes NHL deal, unveils temporary Utah HC jerseys
- Pinehurst showcases USGA strategy for 'anchor' hosts for U.S. Open
- USL lands Peacock deal for new women’s pro league
- X Games launches league with new team format, year-round schedule
Listen to SBJ's most popular podcast, Morning Buzzcast, where SBJ’s Ted Keith remembers the remarkable career of Jerry West before discussing the U.S. Open and its new 1895 Club, the Saudi PIF looking harder at boxing and more.
Reactions to Big 12 looking at naming rights partner, private equity investment
The news out of the Big 12 today that the conference is exploring a naming-rights agreement with Allstate, among other potential suitors, and also considering a private equity investment from CVC Capital drew reaction across TV and social media.
ESPN's Pete Thamel said on "The Pat McAfee Show" that the potential naming rights deal is part of the “slow NASCAR-ization of college sports.” Thamel said a conference naming-rights deal “is massive” for a brand, as it is “so much more than putting your name on a stadium” or something similar. The potential deal “would mean a trickle down” to member schools of “multiple millions of dollars annually” as the Big 12 looks to catch up with the SEC and Big Ten in terms of revenue distributions.
CBS Sports' Tom Fornelli said on the network's “Cover 3 College Football Podcast" that he does worry “about the short-term thinking” from the people “making the call” on taking private equity investments. Fornelli said the ADs and college presidents who want this investment “are going to be gone,” and the people who will be in those roles then “are gonna have to deal with consequences of taking the P.E. money”
USA Today's Blake Toppmeyer said on "The Paul Finebaum Show" that Big 12 Commissioner Brett Yormark “goes where a lot of commissioners maybe wouldn’t” or “goes there first.” Toppmeyer: “Leave it to the Big 12 to go and set forth this path into corporate sponsorship for the conference.”
Smith Entertainment Group closes NHL deal, unveils temporary Utah HC jerseys
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Smith Entertainment Group
Smith Entertainment Group officially closed its deal to acquire an NHL franchise and unveiled the uniforms Utah Hockey Club will wear for its inaugural 2024-25 season. The team is conducting a multi-round public vote to determine its permanent brand identity but will be known as the Utah Hockey Club for 2024-25. Its color palette, which it intends to keep beyond the upcoming season, consists of “rock black,” “salt white” and “mountain blue.” The tertiary blue was included to create connectivity with SEG's NBA franchise, the Jazz, which recently unveiled a
new visual identity of its own.
SEG is working with Brooklyn-based Doubleday & Cartwright on all branding efforts for the new NHL franchise, including both the temporary Utah Hockey Club identity for the inaugural season and the permanent identity for future seasons. The
voting for the permanent moniker was narrowed after one round of voting to six options: Utah Hockey Club, Utah Yeti, Utah Mammoth, Utah Outlaws, Utah Blizzard and Utah Venom.
![](https://cdn.statically.io/img/www.sportsbusinessjournal.com/-/media/Images/Daily/2024/06/13/TWILIGHT/LOGOS--COLORS.ashx?mw=768)
Smith Entertainment Group
SEG acquired what is considered to be a new NHL franchise as part of a three-way deal with the league and Alex Meruelo, the owner of the Arizona Coyotes. Under the multi-faceted agreement, sources said SEG paid $1.3 billion to acquire the franchise. Meruelo received $1 billion in exchange for allowing the league to deactivate the Coyotes franchise and shipping the team’s player contracts, draft picks and hockey operations infrastructure to Utah. The NHL received the remaining $300 million to be split among the league’s other owners.
Pinehurst showcases USGA strategy for 'anchor' hosts for U.S. Open
Pinehurst No. 2 hosts the U.S. Open this week for the first time in a decade, and it marks the start of a new way of thinking for the U.S. Golf Association.
The 2024 Open is the first such event to be held at one of the USGA’s new anchor sites, which include Pinehurst, Oakmont Country Club and Pebble Beach Golf Links. The USGA tabbed those courses as anchors two years ago, with a goal of building continuity at courses for its top championships.
Before this month, the U.S. Open had not been at Pinehurst since 2014, and before that 2005. The lengthy time between courses hosting tournaments made it difficult to build continuity. Now, the Open returns in 2029 and again in 2035. Next year the Open heads to Oakmont, which hasn’t hosted since 2016, before that 2007. It will return in 2033. Pebble Beach, which went nine years between hosting its last two Opens, will now host three from 2027 to 2037. Other courses will host the tournament in between the years at the anchor sites.
Choosing anchor sites will make staging tournaments easier from a logistical standpoint, as well as financial, as SBJ's Josh Carpenter reports in this week's magazine.
BIS: Inside HCL Tech's sports moves
HCL Tech CMO Jill Kouri, speaking at SBJ’s Brand Innovation Summit on Wednesday, said sports has provided the legitimacy needed by the India-based tech consultancy, reports SBJ's Wes Sanderson.
Kouri noted how she and her team looked at what some of their competitors were doing in the N.Y.-area where other tech companies were partnering with Madison Square Garden and marathons, which made it a “sort of given” that HCL would do something in sports marketing.
Kouri said the first deal the company did was with MetLife Stadium and the Jets and Giants in 2022, which included a luxury suite at the stadium. Despite having such a global footprint, Kouri said beginning with a partnership type agreement versus something like an advertising buy was always going to be the way to go.
In other Brand Innovation Summit coverage, SBJ's Mollie Cahillane reports on the difference a superstar athlete can make on brand sponsorships, such as Group 1001 Insurance (Gainbridge) experience with signing Caitlin Clark.
USL lands Peacock deal for new women’s pro league
The USL secured live match distribution for its professional women’s soccer competition, the USL Super League, under a four-year agreement with NBCUniversal’s Peacock, reports SBJ's Alex Silverman. The Super League rights are at the center of a broader deal between the USL and NBCU that will also help bolster the media company’s youth- and amateur-focused SportsEngine Play streaming service.
In its inaugural season, which begins Aug. 17 and runs through May, the Super League will play 112 regular-season and three playoff matches -- two semifinals and a championship game -- all of which will stream exclusively on Peacock. The league’s eight clubs will retain their local linear rights, enabling them to find broadcast distribution within their own markets.
X Games launches league with new team format, year-round schedule
The X Games is transitioning from an event model to a team-based league model, reports Mollie Cahillane, beginning in 2026.
Backed by MSP Sports Capital, the new X Games League (XGL) will debut a year-round competition calendar designed for athletes to earn more than the $2.4 million already allocated in prize purses. XGL will have both a summer and a winter league, and MSP and X Games are in the marketplace to find investors to back teams. ESPN will remain a minority and linear TV partner.
Speed reads
- IndyCar and Fox Sports formally announced their new media rights pact that starts in 2025, with every race set to air on the Fox broadcast channel, reports SBJ's Adam Stern.
- Speedo gave a $1 million gift to USA Swimming as part of the brand’s initiative to diversify swimming through its campaign for change, Speedo’s Swim United, writes SBJ's Trevona Williams.
- For its first linear TV commercial, Athleta will showcase gymnast Simone Biles starting this weekend and through the end of the Olympics, reports SBJ's Rachel Axon.
- Gucci apparel is coming to TopSpin 2K25, 2K Sport’s tennis video game, along with the brand’s ambassador, World No. 1 Jannik Sinner and Gucci-themed court on June 20.