135. Super Leagues & The Path Forward for College Sports

Jeb Terry – President and CEO of Cosm – tells the story of his first time experiencing an early prototype of a Cosm venue.   He explains the transportive nature of the "shared reality" experience.   Listen to the full episode here: https://nvgt.com/podcast?ppplayer=1e977ebc536a4f7840f232ca6e253547&ppepisode=4830009f2315f99b926e22e26021574b   For more insights, visit our LinkedIn page or learn more about Navigate at https://nvgt.com/.

AJ Maestas and Charles Rolston are regularly advising conference commissioners, athletic directors, and other clients shaping the future of college athletics.   They share their POV on various paths forward including revenue sharing, super leagues, athlete employment, and more.   Timestamps: 0:30- Can athletic department budgets continue to rise? 4:30 - What would a college super league look like? 8:00 - How are ADs keeping track of the changes? 12:35 - 15:35 What does college athletics look like in ten years? 16:25 - Revenue sharing with athletes   For more insights, visit our LinkedIn page or learn more about Navigate at https://nvgt.com/.

Who will win the bidding war for Warner Bros. Discovery? Netflix announced an $82.7B deal for all of WBD's streaming + studio assets, but now Paramount is pursuing its own $108 billion takeover that will include cable and linear networks as well.   Charles Rolston and Umar Hussain break down the biggest story in media.   Timestamps: 0:50 - What do we know so far? 3:10 - 6:37 The difference between the Netflix and Paramount offers 6:35 - How does this impact sports rights holders? 12:20 - Netflix's goal 17:50 - Which deal should WBD take? 21:35 - Predictions    For more insights, visit our LinkedIn page or learn more about Navigate at https://nvgt.com/.

Donn Davis – Chairman and Founder of the Professional Fighters League – explains what the UFC's most recent media deal means exciting things for the PFL in their upcoming negotiations with partners.   UFC gets $25M per event, and PFL has ⅓ of the audience. Donn predicts they'll end up getting much more than the $1M/event they currently receive.   Listen to the full episode here: https://nvgt.com/podcast?ppplayer=1e977ebc536a4f7840f232ca6e253547&ppepisode=cbd3d581cfc5eddf1236ad1d5520f1c1   For more insights, visit our LinkedIn page or learn more about Navigate at https://nvgt.com/.

Navigating Sports Media:   Dan Porter - CEO of Overtime - runs one of the biggest content platforms for the younger generation of sports fans. Overtime doesn't compete for sports rights, but they have added 35,000 followers per day for over nine years.   They have also made two major bets: building out their own leagues for high school basketball and high school football. Dan explains how their decision to pay young athletes accelerated the implementation of NIL at the college level.   Dan talks about the importance of giving young people a platform on social media and beyond. Prior to Overtime, he was President of Teach for America, and helped create one of the most downloaded apps of all time in Draw Something. One of the Overtime athletes launched the "six-seven" phenomenon among kids and young people.   Timestamps: 1:15 - Dan's background 7:10 - Growing with the Overtime audience 10:55 - What could the NFL or NBA learn from Overtime? 13:55 - Playing for the internet, not cities 16:40 - Overtime Elite kickstarted NIL 18:55 - Content philosophy 22:40 - Building a platform for young people 25:40 - Expanding into sports beyond basketball  30:20 - Dan's leadership style 34:30 - Rapid Fire Questions Restaurant Recommendation in Brooklyn: Terre | Pasta & Natural Wine   For more insights, visit our LinkedIn page or learn more about Navigate at https://nvgt.com/.

AJ Maestas and Charles Rolston break down the ROI metrics behind the (seemingly) crazy trend of expensive coaching buyouts in college football. They explore the economic and political factors at play that lead to these decisions for athletic directors and university presidents.   The right coaching hire can yield an incremental $20M - $35M per year for a football program, so there's a lot to lose by keeping a losing coach on staff. However, would it make more sense to take the money you'd otherwise use for a buyout and invest it in NIL?   Drawing on Navigate's work advising ADs and presidents while these factors are being weighed, AJ and Charles dissect the economics and decision-making pressures driving this high-stakes trend.   Timestamps: 0:45 - The ROI of firing your coach 5:00 - Spend on NIL or spend on a coach? 8:05 - Aligning AD incentives 16:40 - Legislation for everything ("good luck")   For more insights, visit our LinkedIn page or learn more about Navigate at https://nvgt.com/.

Jeb Terry - President and CEO of Cosm - explains "Shared Reality" and what their venues add to the sports fan experience.   Jeb describes Cosm as "the next best thing" to being at a live event, and gives a thorough breakdown of the business model that is in many ways similar to a traditional venue with tickets, concessions, and partnerships.   He also explains the strategy behind expansion and how they are selecting new markets both domestically and internationally.   Timestamps: 1:10 - Shared Reality 6:15 - Jeb's background as an NFL player 10:40 - Cosm partnerships 16:10 - Expansion strategy 22:45 - Key learnings 25:00 - Rapid Fire Questions   For more insights, visit our LinkedIn page or learn more about Navigate at https://nvgt.com/.

Navigating Sports Media: Eric Ratchman – CRO of FanDuel Sports Network – on the challenges of emerging from bankruptcy with a sustainable plan for the future, and how they were ultimately able to find success.   He highlights the three-step process that his team employed, and the many stakeholders and creditors that had to be aligned in order to make it all work.   Listen to the full episode here: https://nvgt.com/podcast?ppplayer=1e977ebc536a4f7840f232ca6e253547&ppepisode=63cc119c45b777bfe7a2c3d8eff870e5   For more insights, visit our LinkedIn page or learn more about Navigate at https://nvgt.com/.

Donn Davis - Chairman and Founder of the Professional Fighters League - has a long history of successful investments both inside and outside of the sports industry.   He talks about the opportunity he saw in the MMA space, and why PFL has become such a valuable property as it looks to gain marketshare from UFC.   He also shares lessons from some of the most (and least) successful deals of his career.   Timestamps: 1:00 - The idea for PFL 5:20 - Donn's endgame with the PFL 6:45 - Bellator deal - what went right and what went wrong?  11:35 - Why Donn avoids esports investments 15:20 - Predictions for the future of media 21:05 - Is AI overvalued? 25:05 - UFC Media Deal 28:45 - Rapid Fire Questions   For more insights, visit our LinkedIn page or learn more about Navigate at https://nvgt.com/.

Drew Weatherford – Founding Partner of Weatherford Capital – has a novel idea for how private equity can get involved in college sports. Beyond varsity sports, athletic departments can also drive value by investing in club sports as an extension of the lucrative youth sports model that already exists across the country.   Would parents be willing to pay thousands of dollars for their students to utilize high-level coaching and facilities? Drew thinks the answers is yes.   He also advocates for a change in the rule that bars universities from hosting multiple teams in the same sport across division I, II, and III.   Listen to the full episode here: https://nvgt.com/podcast?ppplayer=1e977ebc536a4f7840f232ca6e253547&ppepisode=db8a3e0ab8b4fca316c1c8b46a8888ff   For more insights, visit our LinkedIn page or learn more about Navigate at https://nvgt.com/.