I'll be heading to the sports business capital of America, or at least that was a fun feature SBJ did a few years ago where we named New Canaan, Connecticut as a hotbed for sports business professionals. Maybe I'll run into some of you on Main Street. And this is your Morning Buzzcast for Thursday, August 6th. I made Madcore. First off, it seems Gianni Infantino is safe for now. FIFA said it apologized for Infantino's failed bid to sell stakes in the World Cup and that senior staff at a meeting in Morocco reaffirmed their full support for his presidency. But...
But that doesn't mean Infantino's issues are over, as national federations could certainly have a say in his future. Let's move on. Some interesting days in horse racing. As Churchill Downs and the New York Racing Association outlined plans for a six-race series of races that will be called the Thoroughbred Championship Series. They're trying to make some big events around horse racing that will start next year in 27. Now, there are a number of other races involved. One race not involved is the Preakness. So it does pose a threat to the concept and appeal of the Triple Crown.
But the bottom line is Churchill Downs, the New York Racing Association and the media networks are trying to amplify horse racing around a big event strategy. Now, this comes as news that the Preakness Stakes, they'll change their calendar. They will now be run on a Sunday for the first time and is moving three weeks after the Kentucky Derby. This will start in 2027. Now, remember, no Triple Crown race has ever been run on a Sunday in the over 100 year history of the Triple Crown. And of course, the issue or the aim and the goal is to get more horses who run in the Derby.
to participate in the Preakness. And so this change comes with an extension of the media rights agreement with NBC Sports through 2032. Of course, NBC Sports has been a longtime partner of the Preakness. This is a new deal. Sports media advisors, Doug Perlman, represented the Maryland Jockey Club in its media negotiations. And moving the Preakness coincides with its return back to Pimlico. And that's part of a $500 million renovation project. Remember, they had a one-time stop at Laurel Park in Maryland. Now they go back to Pimlico. First year, there'll be limited capacity and then a full opening.
later in 2028. But what is the bottom line overall here? Bottom line, investors, partners, media companies see some growth and see some appeal in horse racing and want to do as much as they can to build the brand. You know, there's been a lot of buzz about jersey patches in college sports, especially after Ohio State and Notre Dame made some eye-popping deals last month. I will say the deals with the Buckeyes were worth $17 million a year from JPMorgan Chase and between $18 to $20 million a year for Notre Dame from SoFi.
Those two deals have been the talk of many of my sources. Why? Because they're far higher than many expected, and it shows the value, or at least the appeal, of jersey patches with major college sports programs. But one major school said it will not be selling the jersey patches. That's the University of Texas. Texas Athletic Director Chris Del Conte has been clear. The Longhorns will not be adding commercial advertising to its uniforms. He calls the uniforms sacred ground. Right now, more than 20 colleges are hitting the marketplace selling their jersey patch, and it's sure that Texas could get a very...
big number. But Del Conte says he understands why other schools are doing it, but at Texas, his view hasn't changed. While they're leaving a lot of money on the table, Texas and Del Conte obviously feel very good about the revenue position the University of Texas is in. And speaking of the University of Texas, I hope you will take some time to read the SBJ profile of our latest champion. She's from the University of Texas, Chris Plonsky. She's had a remarkable five-decade career in college sports and has worked with such legends like DeLoss Dodds and Del Conte. She really embodies athletics at Texas. It's a great read. I encourage you to take some time and read it. Two big personnel hires in sports. The Detroit Lions have hired Richard Haddad from Piston Sports and Entertainment to become the Lions' president and CEO. Now, he was a 2022 SBJ 40 Under 40 honoree.
He comes to the Lions after 14 years with the Pistons. He takes over the role left behind by Rod Wood, who has been the Lions president for a long time. He was a family advisor for many years. In Richard Haddad, the Lions get a lot of business acumen. He oversaw all business operations and affairs for the Pistons. He helped bring the Pistons back to Detroit from Auburn Hills. He helped them land a WNBA team. This proves to me that the Lions ownership is very focused on growing revenue and the brand of the Lions. Richard Haddad leaving the Pistons.
for the Detroit Lions. Meanwhile, another well-known name, Hugh Weber. He is moving on as president of the Seattle Sounders and Seattle Reign. He will move to Edmonton and become CEO of OEG Sports and Entertainment. So what is that? That is the Edmonton Oilers, their AHL and WHL affiliates. It's Rogers Place and the Ice District. I have long believed that the conglomerate around Edmonton and hockey is one of the most under-told stories in sports. They have built a real juggernaut in that area. So this is a big job.
overseeing a lot of entities, and before joining the Sounders and the Reign, Hugh Weber served as president of Harris Blitzer Sports and Entertainment, well-known to many in the business, leaving Seattle for Edmonton. Over the last couple of days, I've shared some insight from a roundtable discussion at SBJ's Thought Leaders Retreat in Deer Valley, Utah. Groups discussed problem-solving, and the question was if they had a magic wand and could solve one major problem they are facing in their job or their organization, what would it be? Now, I've shared some broad themes over the past few days. Here were a couple of other.
There was some frustration with organizations focus on the short term being a constant strain in big picture thinking. There was a lot of anxiety and discussion about the inability or unwillingness to step back and do long range planning. Many believe that too many of today's decisions have a long term impact, often negative or suboptimal on the organization or on consumers or on fans. But there's an inability or refusal to think long term. There was also a great deal of discussion about making sure youth have access to sports and the concern that today's.
Children are either not playing sports at all or do not have interest in broad sports participation. Many are adamant that a healthy sports environment is incumbent on children having fun playing sports. So how to increase participation and make sports accessible for all was widely discussed and debated. There was also the technology conversation about how the overuse and reliance on technology has stripped companies and organizations of a human touch, a human feel, and sometimes has created more confusion. I will say this theme was met.
with strong pushback from some leaders, especially from the technology space, that we shouldn't blame technology and the tools of technology, but it's more of a cultural issue. And then one group that featured leaders of national governing bodies and leagues said they need help with online safety and security as the level of online abuse of athletes, officials, and even executives and colleagues has reached very concerning heights. So those are some takeaways from a group discussion of industry leaders at the SBJ Thought Leaders Retreat. I wanted to share them with you so you get a sense. of some of the issues these leaders are grappling with. I mentioned this yesterday, but Sports Business Journal has launched Ask SBJ exclusively for our all access subscribers. Ask SBJ is a AI powered research assistant with more than 30 years of SBJ's archives. This helps you quickly research companies, executives, deals. I've been testing it for a month and it's very impressive. I know it'll be a huge value add for you. This is available only for all access subscribers. And if you're not a subscriber, please let me know. I want to know what I can do to get you on board.
This week's SBJ Sports Media Podcast. Listen in as Austin Carp and Josh Carpenter break down the latest news, and they bring on Mike Golick Jr. and Sr. to the show, and they detail how their ESPN homecoming came about and what to expect from the father-son duo on ESPN Radio. That's on your SBJ Sports Media Podcast. Make sure you like and subscribe. Available now wherever you get your podcasts. And so that is your morning buzzcast for Thursday, August 6th. I'm Abe Madcore. My colleagues will bring you the buzzcast tomorrow.
I'll speak to you next week. Stay healthy. Be good to each other. I'll talk to you down the road.