Jason Chung

Earlier this week the valuation of an historic media rights deal was announced for the WNBA. The reported $2.2 billion over 11 years equates to six-times the amount the league was earning under its current deal with WNBA. The valuation also exceeds the amount league commissioner Cathy Engelbert hoped to drive for the rights. Despite these positive points, WNBPA executive director, Terry Jackson, and others question how the valuation was reached and if the league truly secured the highest possible valuation. Today I joined Marketplace's Savannah Maher to delve into the deal and its upside and downside. In my work for WIF and conversations with media and finance leaders, a sad truth has appeared: investments into men are made on potential, whereas women only receive investiture after proof. The WNBA is in the midst of an historic season where viewership has tripled, more arenas have sold out than ever before and a captivating group of women are leading the league. The question now, is whether $2.2 billion is a representation of today's current value of the league or a projection of how much further it can grow. You can listen to the interview here: https://lnkd.in/gP8ypApE

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An important court case to watch 

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You may have heard: Warner Bros. (WB) sued the National Basketball Association (NBA) for breach of contract after the NBA announced a new partnership with Amazon worth $77 billion. At-issue is the "matching rights" provision in the current WB-NBA license agreement. WB claims they properly exercised their right to match the offer Amazon made to the NBA. The NBA disagrees, claiming WB tried to change up some of the Amazon offer's terms. This case highlights a relatively common term that most would broadly refer to as a "right of first refusal", or "ROFR". In general, a ROFR gives a party the right to reject or match an offer presented to its counterparty from a third party. ROFRs typically cover large-scale transactions, like the sale of a business, real property or, like here, a major commercial agreement. As it turns out, ROFRs are one of the most over-talked about, yet grossly misunderstood contract terms. Most people get the basic premise - the right refuse or match an outsider's offer - but they don't appreciate the details. For instance, timing is a crucial component. Here, WB had 5 days to respond to the NBA's notice of Amazon's offer. Most ROFRs will afford more time. Timing also covers how long the responding party has to complete the transaction (assuming it's a right to match). Is it a set time or based on the third party's offer? Is there an opportunity to extend? What constitutes a "match" should be clearly defined. The responding party wants a broader interpretation that focuses on fundamental terms, like the price. The noticing party, if they really want to take the third party offer, want strict compliance. Simply respond yes or no, no leeway. There are many more terms that must be addressed in a proper ROFR. You can bet that if the NBA wants to partner with Amazon, they structured that new deal in a way that they knew WB would struggle to match. For what it's worth, WB claims they matched Amazon's offer. Now, a court will interpret the offer and see who's right. Either way, we all lose when this team at Inside the NBA disbands after next season. #generalcounsel #contractlaw #SirCharles

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Recap of Consensus 2024: why does this event exist? TLDR Thx for the BBQ, Austin! And it was great to meet up with old and new friends including EJ Ayala, Michael Dershewitz, Max Kaufman ⚡️, Erica Hamilton, Ron Cao, Colleen Sullivan, Alex M., Paul Thind, Dante Reminick, Parker Heath, Kiernan Fitzsimons, Conrad Sain, George V., Rodrigo Etcheto, Kelly DiGregorio, and more! In all it was a great time meeting with incredible partners. It's clear that: - Cloud compute and distributed hosting x web3 gaming has a lot of potential - Gaming-focused chains are ready to rock and roll, esp. powered by Sequence - Investments are increasingly sophisticated and focused on sustainability - Traditional gaming is headed into the space in droves, with strong teams with incredible backgrounds who truly understand gamers, data, A/B testing and more But Consensus, as with many generalist crypto or web3 events, is obsolete. Events in new industries are important, but as the space matures and consolidates, I'm not sure that there's a need for several days devoted to basic underlying technology. It's like going to Servers 2024! We all get it, we know what servers are, what they do. How this gets applied, what benefits it brings to developers, players, users, that's what matters. I'd love to see Consensus get a bit more serious around specific tracks or reconsider its focus.

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Watch this.

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The pending acquisition of Guild Esports, faced with significant cash issues, is yet another reminder that orgs are available for acquisition during the current industry-wide economic correction. Just make sure the DD is thorough from both an esports and legal perspective https://lnkd.in/eHYi-9tk

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Bryce Yang (Sr. Director, Global Sports Marketing at 2K) shared insightful comments this week on the launch of "Top Spin 2K25," the most recent in a growing list of sports releases — 7 of their last 8 games! To me, the interview reinforced the strategic value of collaboration between sports brands and game publishers. Here are my top 3 takeaways, plus how building expertise in gaming can help accelerate your career in sports 👇 🎮 1. Sports allow game publishers to *reach into the mainstream* by welcoming casual gamers. From this foundation, 2K can introduce other titles to passionate gamers: e.g., Borderlands, Bioshock, Civilization, XCOM. 🎾 2. Tennis is a sports that can capture *youth enthusiasm* and partnerships with games can help accelerate that trend. For example, Frances Tiafoe and Carlos Alcaraz have each promoted the game on their Instagram pages. 📸 3. Sports games are natural destinations for *in-game brand advertising,* driving revenue for athletes/leagues/tournaments as well as game publishers. Top Spin 2K25 includes the real-live sponsors of tournaments, such as BNP Paribas's support of Indian Wells. __ As you build your career in sports, showing vigilance on the development of *alternative channels* (including game publishers) is a valuable way to reach new audiences and help grow a sport overall. As gaming continues to become mainstream, expertise on how your sport can help a game publisher expand could give you an edge in building for this new medium. __ Check out the full interview with Digiday: https://lnkd.in/eu44_fiY ⭐️ To contribute to tennis's growth, explore 200+ open Golf / Tennis jobs, including roles at the (USTA) United States Tennis Association, ATP Tour, WTA, and more on TeamWork Online: https://lnkd.in/e8pRjQRB What sports game do you believe has contributed the most to the growth of the sport itself (and why)? ⬇️ 💬

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The Dallas Stars are taking a bold gamble on the future of sports media with the launch of their free, ad supported streaming service, Victory+. This move signals a broader trend of professional sports teams moving away from the traditional regional sports network (RSN) model, particularly considering the ongoing financial struggles of entities like Diamond Sports Group, which owns Bally Sports. Victory+, created in partnership with A Parent Media Co. (APMC), will allow fans in the Dallas Stars' regional territory to stream all games for free, starting in the 2024-25 season. This shift towards streaming is emblematic of the growing trend where consumers are increasingly cutting the cord in favor of more flexible, on-demand services. As traditional RSNs continue to face financial challenges, teams are finding innovative ways to connect with their fanbase directly, bypassing the middleman and leveraging digital platforms. From a legal perspective, setting up a streaming service like Victory+ requires careful planning and execution to navigate the legal intricacies of: - Drafting and negotiating agreements between the team and the streaming service provider - Ensuring compliance with broadcasting rights and league requirements - Establishing advertising partnerships - Managing content distribution - Negotiating revenue sharing - Forming partnerships with other teams or leagues looking to join the platform As a sports lawyer, I am experienced in navigating these intricate legal landscapes, particularly in media rights deals and ancillary agreements. My firm is well-equipped to assist clients—whether they are sports teams, leagues, advertisers, or content creators—in developing and implementing strategies that ensure successful transitions to digital and streaming platforms. If your organization is exploring similar opportunities or facing challenges in the evolving sports media environment, feel free to reach out to discuss how we can support your goals. https://lnkd.in/dmadBZjd

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Electronic Arts (EA) College Football is back..... The 1st CFB title in a decade officially launched last week and sold a reported 2.2M of its Deluxe Edition ($99.99). Players who purchased the Deluxe copy gained access to the game 3 days early, proving the gaming community is willing to shell out more of their money to get a head start on games they want to play. (Source: IGN) CFB is a generational game, with older gamers (me) looking to relive our glory days. The bigger opportunity for EA is engaging a younger generation of players who have never played a CFB title. Combining nostalgia with innovation around one of America's most popular sports (28% increase over the last 5 years) will prove to be a winning strategy for EA. I had the pleasure of sharing some insights with Front Office Sports around the game's launch and expectations. 🏈 https://lnkd.in/gwEZRSUP rEvolution #gaming #sportsbiz

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Sports gambling is big business, and its impacts are far-reaching. My colleagues Jon Israel and Evan Bondoc discuss the effects of legalized betting on college sports. #SportsLaw #CollegeSports #SportsIndustry

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The Future of Umpiring in Baseball: Balancing Tradition and Technology This article is not about baseball! As technology continues to advance, the world of sports, including baseball, faces the challenge of integrating these innovations while preserving the essence of the game. One of the most hotly debated topics in recent years has been the potential replacement of human umpires with an automated ball-strike system. This issue raises important questions about tradition, accuracy, and the very nature of the sport. The case for human umpires is deeply rooted in baseball's rich history. Since the game's inception, umpires have been an integral part of the action, bringing their expertise, judgment, and personality to every pitch. Their presence on the field adds a dynamic element to the game that many argue is irreplaceable. Umpires don't just call balls and strikes; they manage the flow of the game, handle disputes, and make split-second decisions that require years of experience and intuition. Moreover, the interactions between players, managers, and umpires contribute significantly to the narrative and excitement of baseball. These moments, whether they're friendly exchanges or heated arguments, have become part of the sport's lore and appeal. The human element in umpiring also allows for a nuanced interpretation of the strike zone, which can adapt to the subtle variations in a batter's stance or the context of the game. On the other hand, the argument for automated systems is compelling, primarily centered around accuracy and consistency. Modern tracking technology has become incredibly sophisticated, capable of making split-second calls with a level of precision that humans simply cannot match. An automated system would eliminate concerns about umpire bias, fatigue-induced errors, and inconsistencies between different umpires' strike zones. This could lead to a fairer game where players can focus solely on their performance, knowing that every pitch will be judged by the same objective standard. Proponents of automation also argue that baseball has always evolved, adapting new technologies and rules to improve the game. From the introduction of the designated hitter to the implementation of instant replay for certain calls, baseball has shown a willingness to embrace change when it benefits the sport. Automated ball and strike calls could be seen as the next logical step in this evolution. However, the transition to automated systems is not without potential drawbacks. Technical malfunctions, while rare, could significantly disrupt games if not properly addressed. There's also the question of how removing human umpires from ball and strike calls might affect the overall feel and …….. Read the rest of the article here: https://lnkd.in/gABHEW89

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The growth of esports is most striking in Asia, particularly in China, which has recognized esports as an official sport since 2003 and included it as a medal sport in the 2023 Asian Games. However, the industry's rapid development has outpaced the laws designed to regulate it, leading to unique legal challenges. #eSports #SportsLaw #SportingLinks

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Sherwood News reports: "Sports betting is more popular than ever. Last year, Americans bet $119B+ on sports, up 27.5% from 2022... One problem: players aren’t allowed to bet on their own sports, but some have done it anyway. In 2023 alone, 10 NFL players were suspended for sports betting — more than in all other years since 1963 combined." With the explosive growth of sports betting in the US and a greater acceptance in our society, Professional and Collegiate Sports Athletes are far more likely than ever before to engage in inappropriate sports wagering. It is not enough to rely on monitoring unusual betting activity and basic education, a comprehensive assessment of the risks faced by professional sports organizations and collegiate athletics programs is an essential part of a comprehensive and strategic sports gambling prevention program. https://lnkd.in/g9zF6jTE

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🌍 Big3’s Game-Changing Strategy 🏀 As Ice Cube's Big3 basketball league announces the sale of its first team for $10 million, it's clear we're witnessing a pivotal transformation. The shift to a city-based format, initially with a team in Los Angeles, isn't just a change of scenery—it's a forward-looking move signaling the increasing valuation of sports teams and leagues in a world more connected by streaming services and AI innovations. This evolution shows how technology not only enhances fan engagement but also fundamentally boosts the financial dynamics of sports. As streaming and AI weave into the global fabric, expect to see an upsurge in valuations, reshaping the economic landscape of sports. The future is here, and it’s digitized, personalized, and more interactive than ever. 📈 #Big3 #SportsInnovation #FutureOfSports #Streaming #AI #SportsEconomics 100xGods Ultimate Endgamers League

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So privileged to be completing year 10 at Collegiate Sports Management Group and exciting to create and lead the marketplace for Collegiate Esports with our EsportsU division. Also fortunate to be on the Advisory Board for Marketing-Accountability-Standards-Board where the incredible leadership team is doing breakthrough work as it relates to measurement of KPI's related to sponsorship impact. #esports #sponsorship #marketing #gaming

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