FOS PM: 500 million dollar contract for the Formula 1 team

UConn star Paige Bueckers is now a member of the Cash App athlete roster, joining Aaron Rodgers, Klay Thompson and Odell Beckham Jr. The reigning Naismith College Player of the Year is also launching her own foundation, and Cash App will endow a first Bitcoin with $100,000. Don.

Red Bull Racing/Design: Alex Brooks

The Red Bull Racing Formula 1 team has officially re-entered as Oracle Red Bull Racing in a five-year, $500 million title sponsorship deal with the technology company.

Oracle Red Bull Racing too unveiled his new car, the RB18, with Max Verstappen at the wheel once again.

The teams introduced for the upcoming season have a cost cap of $145 million. Red Bull team principal Christian Horner told The Associated Press the deal will help the team become more efficient despite new financial regulations.

The winning team of the 2021 World Championship used Oracle Cloud Infrastructure last year, but the entities are to improve their relationship to “further improve racing strategy, engine development and projects within Red Bull Advanced Technologies”.

  • The team performed 1,000 times more race simulations in 2021 than the previous year using OCI, resulting in improved accuracy.
  • Simulation speed jumped from 10 timeshelping race strategists make quick decisions.
  • OCI has also reduced simulation costs.

Red Bull gives wings to Oracle

There were a few other initiatives included in the team’s announcement.

Companies have launched The Red Bull Racing paddock last year, an OCI-powered loyalty platform for fans that allows a direct line of communication with the team. Other features will be unveiled this year, including the ability to create content.

Oracle is also working with Red Bull Powertrains to develop F1 engines is set to debut in 2026 and partner with Red Bull Advanced Technologies to “develop the next generation of world-class riders”.

Media rights to one of the world’s most popular sports leagues are up for sale and the auction is attracting media giants.

The Indian Premier League’s five-year broadcast deal with Star India, owned by Disney is expiring this year, and the Board of Control for Cricket in India is preparing to solicit bids.

The next deal is expected to yield more than double $2.5 billion acquired from the previous pact, which included both linear and streaming rights.

Disney would like to keep the rights after buying Star India and its streaming service hot star in 2019 as part of a $71 billion deal with 21st Century Fox in 2019.

  • sonywhich merges its Indian segment with Zee Entertainment to create a major media conglomerate in the country, would eye cricket league rights.
  • Viacom18, a company of ViacomCBS and Indian conglomerate Trust Industries (market cap: $220 billion), would also be likely to explore an offer.
  • Amazon and netflix were also speculated as potential bidders, although Netflix never acquired live sports rights.

cricket fever

The cricket league is perhaps the most watched sports product in the world: its 2021 season brought 380 million viewers from September, despite a four-month suspension due to the pandemic. This figure was higher than any of the last three seasons.

Fox Corp. exceeded expectations in its fiscal second quarter with $4.44 billion in revenue thanks to growth from its Tubi streaming platform and NFL-generated ad revenue.

The mass media company beat Wall Street estimates of $4.25 billion in revenue for the second quarter of fiscal 2022, but reported a net loss of $73 million during the quarter, mainly due to the change in fair value of its investment in the Dublin-based sports betting company Flutter Entertainment.

The NFL media rights deal with Fox fueled the company’s growth in the quarter.

  • Its television division posted $2.7 billion in revenue, an increase of 8% year-on-year.
  • Advertising revenue reached $2.4 billion compared to $2.2 billion in the second quarter of fiscal 2021.
  • The company has pocketed $1.7 billion in affiliate fee revenue, an 11% year-over-year increase.

In April 2020, Fox acquired Tubi for $440 million, with the latter having $25 million monthly asset users at the time of the transaction. Currently, the platform has 51 million monthly asset users which streamed 3.6 billion hours of content in the second quarter of fiscal 2022, a 40% year-over-year increase.

Go back

Last March, the NFL finalized its media rights deals with CBS, NBC, Disney, Amazon and Fox with deals worth $113 billion over 11 seasons, starting with the 2023 season.

NFL Commissioner Roger Goodell noted the league will work with broadcasters to incorporate legal sports betting into the agreements.

  • In The Leadoff, players are set to bet a record $7.6 billion on Super Bowl LVI, Softbank and Nvidia cancel a $40 billion chip tech deal, Nobull expands into running and San Diego State University becomes the latest school to face a Title IX lawsuit. Click here to listen.
  • BeIN Sports has acquired media rights to the ATP Tour in nine Southeast Asian markets. The four-year deal runs from 2022 to 2025 and includes Singapore, Laos and Thailand.
  • On Tuesday, a presentation by inventor activist Blackwells Capital was released regarding concerns over the management of Peloton. A few hours later, CEO John Foley resigned. FOS Senior Analyst Liam Killingstad breaks down the presentation here.
  • The Washington spirit of the NWSL has been sold to Y. Michele Kang in a deal valued at $35 million. Kang beat Los Angeles Dodgers co-owner Todd Boehly and retail manager Jennifer Tepper Mackesy after contentious negotiations.

(Note: all at market close 02/09/22)

The Waste Management Phoenix Open brings together the best golfers in the world at TPC Scottsdale.

Last year, Brooks Koepka won the tournament by a stroke, taking home $1.3 million. Now players will be vying for an $8.2 million purse this week in Arizona.

How to watch: 12 p.m. ET on ESPN+ / Stream all of the Farmers Insurance Open on ESPN+*

*Sponsored content. Game availability differs by market, check your local listing.

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