Morning Buzz

The USOPC’s total assets topped $1.14B in 2025 as the organization brought in more than $281M in revenue in the non-Games year. With expenses totaling more than $308M, the organization operated at a loss in the first year of the quadrennium. Olympic and Paralympic organizations typically see significant fluctuation in revenues throughout a quad, peaking in years with Summer Games.

The USOPC’s newly released consolidated financial report for 2025 -- the first year of the quad culminating in the 2028 Summer Games -- showed an increase in total assets driven by growth in investment. The organization’s total assets first crossed $1B in 2024. In the year since, its investments grew from more than $661M to $760M in 2025. Sponsorship and licensing made up more than half of its 2025 revenue, bringing in more than $154M. Investment income netted more than $61M, and contributions brought in more than $38M.

Distributions and payments to national governing bodies and athletes made up the largest of its expenses at nearly $110M, followed by personnel ($54M) and professional and outside services ($45M). USA Track and Field received the largest total distribution, topping $16M, followed by U.S. Ski and Snowboard at $15M. Seven NGBs received USOPC distributions of $5Mor more.

USOPC CEO Sarah Hirshland, whose contract runs through the 2028 Games in L.A., had a total compensation of more than $1.4M. Seven other USOPC executives had compensation of $500,000 or more.

The ticket price for USA vs. Bosnia and Herzegovina has dropped 57% from its peak, but the match still remains the fourth-priciest of the 16 World Cup Round of 32 games, according to TicketData.com.

The get-in price for Wednesday’s showdown at S.F. Bay Area Stadium was $1,369 late Tuesday. That is far from its peak of $3,150 following the Americans’ victory over Australia in their second group game, but it’s still well above the $800 price point when the tournament started.

Only three Round of 32 matches are more expensive: Argentina-Cabo Verde ($2,022), Mexico-Ecuador ($1,999) and Portugal-Croatia ($1,856). Also, USA-Bosnia is cheaper than the co-hosts’ three group games against Paraguay ($1,437), Australia ($1,758) and Turkiye ($1,907).

Levy has been selected to provide food and beverage at Northwestern Univ.’s new Ryan Field when the most expensive college football stadium ever built opens this fall in Evanston, Ill.

Levy’s design and construction team, led by SBJ Game Changer Denise Gaffney, had been involved with Northwestern’s $870M project since the very beginning, but the university and Ryan Sports Development still conducted a competitive RFP process, to which most of the F&B industry responded. The win enhances Levy’s college football stadium client roster, which already included Notre Dame, Alabama, and Michigan.

The Ryan Field F&B program will emphasize local restaurants and chefs from Chicago’s thriving and diverse food scene, and will be brought to life in a variety of settings in and around the 35,000-seat stadium, whether high-end premium spaces, general concessions on the main concourse, or the stadium’s pregame and postgame festival grounds. And most of the stadium’s concessions outlets will be frictionless markets.

Levy, whose headquarters are on Michigan Ave. in nearby downtown Chicago, also currently serves fans at Northwestern Medicine Field at Martin Stadium and Welsh-Ryan Arena, along with other Northwestern campus venues.

The new iterations of the Pac-12 and Mountain West conferences officially launched at midnight, with nine full-time members in the Pac-12 and 10 full-time members in the Mountain West (SBJ).

The Portland OREGONIAN cited a source as saying the Pac-12 will unveil on Wednesday that it has “signed a two-year deal to hold its men’s and women’s basketball tournaments at the MGM Grand Garden Arena.” The conference held its men’s basketball tournament at T-Mobile Arena from 2017-24 (Portland OREGONIAN, 6/30).

The Mountain West on Wednesday will also “officially launch its new app.” Subscribers will be “asked to name their favorite team,” and schools “will receive a large portion of the revenue from their fans’ subscription” (Honolulu STAR-ADVERTISER, 6/30).

Omnicom Media Group is “set to secure Adidas’ $512 million global media account,” according to a source cited by ADWEEK. Both WPP and Publicis were reportedly “pitching for the business.” WPP’s EssenceMediacom previously managed the account. Mediacom initially won it in 2018, prior to its 2023 merger with Essence. The Adidas account “will be led by OMG media agency PHD.” Adidas has “dialed up its marketing investments of late, having shelled out over” $3.4B on marketing expenses last year, up 8% from the previous year. The company is also “among the biggest World Cup sponsors, controlling a significant share of elite player endorsements, supplying match balls, and outfitting a dozen national teams” (ADWEEK, 6/30).

Nike on Tuesday posted quarterly earnings and revenue for its fiscal Q4 “that topped Wall Street expectations,” reporting overall revenue of $10.97B vs. $10.86B expected. The figures came “despite another sales decline in its key China market.” Nike posted net income of $1.07B, compared with $211M a year earlier. Overall revenue was down 1% from $11.10B in the prior-year period, but revenue in North America, Nike’s “largest market, climbed” 3% to $4.83B. However, that still “fell short of analysts’ expectations” of $4.88B. Sales in Nike’s Greater China market dropped 12% to $1.30B. Even so, the company “beat Wall Street’s expectations” of $1.24B in revenue (CNBC.com, 6/30).

On the company’s earnings call, Nike CEO Elliott Hill said he was “proud of the progress” the company has made, but he acknowledged, “overall, the results aren’t there yet.” The company’s share price, which has fallen more than 50% since Hill started work in October 2024, “dipped below $40 in after-hours trading” after the earnings report, “the lowest it’s traded in more than a decade.” China and Converse “remain significant weak spots,” with quarterly sales falling 12% and 32%, respectively. Both sectors of the business have been “persistently problematic in recent quarters.” On Tuesday, Hill said each is being “reset.” The quarter also included the recognition of a $986M tariff refund (Portland OREGONIAN, 7/1).

The NHL’s “offseason high drama kicks off at high noon” Wednesday, as free agency officially opens at noon ET and teams “can officially ink unrestricted free agents to new contracts.” There was “a lot of trade activity in the lead-up, cutting into team’s salary caps,” and that “could lead to less-lucrative contracts being dished out.” In addition, more trades “could happen Wednesday” (BOSTON GLOBE, 6/30).

At “the head of the 2026 free-agent class” are the likes of G Sergei Bobrovsky, D John Carlson and D Jacob Trouba. While several pending unrestricted free agents “took themselves off the board” by signing extensions in recent weeks and months, those that remain “should reap the benefits of being desired in a limited marketplace” (THE ATHLETIC, 6/30).

The NBA will stage the NBA Cup’s 2026 championship game at Butler Univ.’s Hinkle Fieldhouse in what one team executive has already called the league’s “Field of Dreams” game.

Last December, after deciding to move the NBA Cup semifinals out of Las Vegas and into home markets, NBA Commissioner Adam Silver hinted the title game could be played at a “storied” college arena. Various team executives immediately guessed Duke’s Cameron Indoor Stadium, Kansas’ Allen Fieldhouse and Kentucky’s Rupp Arena, with the league confirming nothing.

But 98-year-old Hinkle Arena, roughly five miles from Indianapolis, ended up being the best historical and logistical fit -- considering it was home to the mystical 1954 Indiana state championship game that inspired the movie “Hoosiers” and because it has the four and five-star hotels to house a tentpole league event.

The announcement, made on Tuesday night’s Prime Video WNBA telecast, was originally ideated by Amazon executives who noticed the uneven and neutral NBA Cup crowds in Nevada over the past two seasons. They not only suggested the home market semifinals to improve arena energy, but also the college environment final.

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The NBA has set the salary cap for the 2026-27 season at $164.961M. The tax level for the 2026-27 season is $200.428M. The salary cap and tax level go into effect at 12:01am ET on Wednesday. Teams were permitted to begin negotiating with all free agents at 6:00pm on Tuesday. For the 2026-27 season, the minimum team salary is $148.465M, the first apron level is $209.015M and the second apron level is $221.686M. The CBA provides for three different mid-level exceptions depending on a team’s salary level: The non-taxpayer mid-level is $15.044M, the taxpayer mid-level is $6.064M and the mid-level for a team with room under the salary cap is $9.366M (NBA).

The Liberty “held off” the Aces by a score of 93-85 in the WNBA Commissioner’s Cup title game Tuesday night at Barclays Center. The victory gave the Liberty their second Commissioner’s Cup title, making them the first franchise to win multiple Cup championships (LAS VEGAS REVIEW-JOURNAL, 6/30).

WNBA Commissioner Cathy Engelbert was “met with emphatic boos from the crowd” while she attempted to present the Liberty with the Commissioner’s Cup trophy. The boos “began the instant the tournament’s namesake touched the mic, and didn’t stop until she was done speaking.” It “appeared that the crowd contributed to Engelbert rushing through her comments” (USA TODAY, 6/30).

Global investment bank William Blair has closed its acquisition of sports investment bank Inner Circle Sports. Financial details of the transaction were not disclosed.

Inner Circle has long punched above its weight as a boutique, sector-specific advisory firm. Launched in 2002 and led by Steve Horowitz and Rob Tilliss, ICS has worked on some of the industry’s top team transactions. It’s currently advising Clearlake Capital’s Jose Feliciano on his acquisition of the Padres and advised Luke Walton on buying a minority stake in the Bulls, among other notable sports M&A deals. ICS has also recently overseen the NWSL’s expansion process.

The ICS acquisition comes as the sports industry proves increasingly appealing to sophisticated investors and, thus, to global advisory practices like William Blair, which has managed nearly $600B worth of M&A deals. ICS will continue to operate separately within William Blair, and the firm is now hiring to expand on its current staff of 16 full timers.

Atlético Dallas has acquired USL Super League club Dallas Trinity FC, “bringing the women’s professional soccer club under the same ownership group” as the city’s future USL Championship franchise. Financial terms “were not revealed, but the acquisition places both clubs under USL Dallas LLC,” a move the organization said that is “intended to expand professional soccer opportunities in Texas.” Dallas Trinity FC will “continue competing in the Gainbridge Super League following the ownership change.” Atlético Dallas is scheduled to begin play in the USL Championship in 2027 (FOX4NEWS.com, 6/30). Like Trinity, Atlético Dallas “will soon play matches at the Cotton Bowl” (DALLAS MORNING NEWS, 6/30).

Pro Padel League has a new deal with USA Sports that will see five matches air on CNBC during its 2026 season. It is the first time the nascent North American padel league, which begins its third full season with an event in N.Y. July 9-12, will have matches air exclusively on a national network in the U.S. PPL Chief Commercial Officer Diane Gotua told SBJ that the deal only encompasses the 2026 season for now, but she is optimistic coverage will continue as PPL expands its events calendar from five to 10 in 2027. She declined to comment on financial terms but said USA Sports will “do marketing and promotion around tune-in.”

CNBC will carry Sunday championship matches from each of the PPL’s five events in 2026. Gotua said the broadcasts will include a short pregame show, and that all will air live except the N.Y. event, which will run on a slight delay.

“Huge milestone for us,” Gotua said. “For [CNBC] to say that they would allocate time and feature Pro Padel League matches on the network is testament to the growing demand for the sport and our product.” PPL has added multiyear sponsorship deals with Padeltek, Franklin Sports, Frederique Constant and Engine and raised a $15M Series A led by Hornets co-owner Rick Schnall since the end of its 2025 season.

Range Sports advised PPL, whose side of talks was led by Gotua and CEO Mike Dorfman, on the deal. USA Sports negotiated directly with Versant SVP/Strategy & Business Development Celia Kohl and USA Sports President Matt Hong.

The Panthers are looking for a Head of Content. The Sunrise-based position is responsible for developing and executing a content strategy that reflects the ambition of this organization and puts the brand at the intersection of sport, culture and storytelling (Panthers).

Red Bull N.Y. are looking for a Head of Team Operations. The Morristown-based position is responsible for strategic oversight of operations across the club’s first and second team ensuring training, matchday, travel and day-to-day logistics run smoothly and consistently (Red Bull N.Y.).

Trajektory is looking for a Head of Analytics. The Chicago-based position is responsible for implementing data-driven capacity planning to optimize the distribution of project tasks and ensure on-time delivery of client data and reports (Trajektory).

The Celtics are looking for a Manager/Partner Development. The Boston-based position is responsible for implementing partner assets from in-market/arena activation, branded content creation, social media campaigns, online and retail promotions, community-based programs and event planning execution (Celtics).

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“David Ben-Gurion called this 1958 book ‘as a piece of propaganda ... the greatest thing ever written about Israel.’”