Month: July 2022

TEAMTRAK CYCLING LEAGUE AND LEGENDS ANNOUNCE STRATEGIC PARTNERSHIP

Posted on by Ryan Schroder

Legends to Manage Sponsorship Sales, Omnichannel Merchandise and

Make Minority Investment in Startup League

TeamTrak Cycling League, an entity of World Cycling Limited, and Legends announced a strategic partnership today to support the launch and growth of the startup indoor cycling league. The partnership spans revenue-generating sponsorship sales and omnichannel merchandise services as well as a minority investment in TeamTrak by Legends, a data-intelligence fueled global premium experiences company. TeamTrak is an innovative, proprietary format of indoor velodrome racing that will launch with a four-event tour at U.S. arenas in 2023.

A team-oriented head-to-head track racing series, TeamTrak gives fans a front row seat to high-energy bike racing, pitting teams of men and women against each other in a heart-pumping indoor velodrome format. The new event series will also feature state-of-the-art technology designed to elevate the fan experience including real time scoring and athlete stats like speed, power output and heart rate as well as on board cameras. TeamTrak is the first privately owned and funded indoor track cycling league based upon a single entity league ownership model and will feature eight location-based teams in year one.

“TeamTrak was developed with a fan-first mentality, reimagining the best elements of track cycling into a fully accessible and easy-to-follow format. Our high energy co-ed team model is specifically designed to appeal to modern American sports fans,” said CEO of World Cycling Limited and two-time Olympic cyclist David Chauner. “We are excited to launch our first season in 2023 using our own portable indoor velodrome. This gives us the ability to bring TeamTrak to hundreds of existing arenas across the country and offers significant expansion potential.”

Legends will manage a data-driven approach for TeamTrak, leveraging data and analytics to provide fan insights and asset valuation to drive sponsorship sales and overall revenue-generating opportunities for the league. As well, Legends will provide broadcast and media rights partnership support for TeamTrak. As TeamTrak grows, the league will have access to all areas of Legends’ intelligence-fueled 360-degree service solutions, including planning, sales, and hospitality to support expansion.

“We are excited to partner with TeamTrak to bring fans and sponsors a modern take on cycling, one of the oldest and most popular sports in the world,” said Gabby Roe, President, Legends Growth Enterprises. “The TeamTrak leadership group has created a competition format that is fan and television friendly, easy to follow and features co-ed teams competing ‘elbow to elbow’ in the most exciting version of track cycling in the world. We see an incredible growth opportunity for the league.”

Earlier this year, Legends launched a Growth Enterprises division focused on leveraging the company’s 360-degree service solution to support sports and entertainment properties, attractions, events, and platforms that are positioned for accelerated development. TeamTrak is Legends’ latest partnership with a high-growth property.

WORLD RUGBY APPOINTS LEGENDS AS OFFICIAL RETAIL PARTNER FOR RUGBY WORLD CUP FRANCE 2023

Posted on by Ryan Schroder

Following record-breaking official merchandise sales at Rugby World Cup 2019 in Japan, World Rugby, via their master licensee IMG, has appointed Legends as the Official Retail Partner and operator for Rugby World Cup 2023 in France next year.

Taking place from 8 September until 28 October, the pinnacle event in the men’s fifteens game will build on the phenomenal spectator, media and commercial success of Japan 2019 where Legends served as the Official Retail Partner and operator.

Legends will operate all the official retail stores for Rugby World Cup 2023 in venues and celebration areas located within the host cities. Two flagship stores in Paris and Marseille are also set to open in August 2023. In line with World Rugby’s mission to create an exceptional fan experience, the physical stores will be stocked with merchandise featuring all 20 participating teams, exclusive event memorabilia for men, women and children, as well as a large range of official licensed products including official replica jerseys, and the official Gilbert match ball.

Rugby World Cup 2023 will set new standards in social responsibility, inclusion and sustainability for a major rugby event, with one of four key pillars focusing on respecting and protecting the environment. As the official retail partner, and in line with World Rugby’s Environmental Sustainability Plan 2030, Legends will support all environmental initiatives with the delivery of a retail operation for Rugby World Cup 2023 consistent with the company’s ongoing standards of delivery throughout its global business.

It has been 16 years since France last hosted the tournament, and Rugby World Cup’s 10th edition is expected to be spectacular on and off the pitch. During the tournament’s seven weeks, international fans and the French public will celebrate togetherness in rugby’s 200th birthday year.  (1823-2023).  

World Rugby CEO Alan Gilpin said:“Our ambition is to deliver a world-class experience for rugby fans in France in 2023 and Legends will help us achieve that mission, bringing their expertise and comprehensive experience to the table to deliver an outstanding event. Through a network of official retail stores covering all hosts venues and cities, we will innovate together and give fans a tangible memory of what promises to be a spectacular tournament on and off the pitch.”

Legends Vice President of International Retail, Victoria Hawksley added: “Legends is proud of its long-standing relationship with World Rugby, and we are excited to once again bring fans a spectacular retail experience and expansive offerings for Rugby World Cup 2023 in France, a location where Legends has a growing presence and commitment.” 

FORBES: New York Yankees Working With Legends In Search For Inaugural Jersey Patch Sponsor

Posted on by Ryan Schroder

Via Forbes

The New York Yankees are in the market for a company to serve as its jersey patch sponsor beginning in the 2023 season, the first time Major League Baseball will allow teams to sell space on their uniform sleeves.

The Yankees are working with Legends, a company it own a stake in, to manage the search. Chris Hibbs, president of Legends’ Global Partnerships division, said the Yankees are looking to sign a multi-year deal with a sponsor, but he declined to discuss the potential financial parameters.

Still, Hibbs noted that the Yankees have chosen not to have a naming rights deal for its iconic Yankee Stadium, so the organization is looking at the jersey patch as garnering what a stadium naming rights deal would be for a major sports franchise. The high water mark for stadium naming rights occurred late last year when the Los Angeles Lakers signed a 20-year deal with Crypto.com for a total that could exceed $700 million or $35 million per year.

“I would characterize the investment as a top-tier naming rights-type investment,” Hibbs said. “That’s fairly well known in North America, what a naming rights deal for a top-tier venue in a top-tier market goes for. We have those kinds of ambitions.”

MLB reportedly could generate a combined $350 million to $400 million annually through the sponsor patches for an average of up to $13.3 million per team. But the Yankees would likely get much more than the average considering their presence in the nation’s largest media and financial market, storied history (27 World Series titles) and current success as they have an MLB-best 61-26 record.

The Yankees are valued at $6 billion, according to Forbes, making them the second-most valuable franchise in the world behind the Dallas Cowboys ($6.5 billion). The MLB average franchise value is $2.07 billion.

“I would say from a value perspective, you’re talking about the most successful franchise in maybe global sports, certainly North American sports,” Hibbs said. “They’re recognized universally…They’re a fashion brand to some. They’re an iconic baseball team to others. Putting a brand on the pinstripes for the first time ever is a super unique opportunity.”

The Yankees and Dallas Cowboys founded Legends in 2008, with the company initially focused on running concessions and retail merchandising at their stadiums and other sports venues and entertainment complexes. Since then, Legends has become a major player in the sports business ecosystem and expanded to hospitality, sponsorships and numerous other areas.

Sixth Street, a multi-strategy investment firm with more than $60 billion of assets under management, acquired a majority stake in Legends last year in a deal that valued the company at $1.3 billion. The Yankees and Cowboys now own significant minority interests in Legends.

Legends’ Global Partnerships division, which was formed in February 2020, represents franchises, colleges and venues in naming rights deals, jersey sponsorships, real estate developments, events and other areas. The division’s clients include SoFi Stadium, home of the NFL’s Los Angeles Rams and Chargers; Allegiant Stadium, home to the NFL’s Las Vegas Raiders; and the University of Notre Dame.

For MLB’s jersey patches, Legends has agreed only to work with the Yankees, eschewing any overtures from other clubs. Hibbs is leading the Yankees’ assignment with colleagues Dan Migala, co-president and chief revenue officer of Legends Global Technology Solutions; Doug Smoyer, senior vice president at Legends Global Partnerships; and Chris Foy, executive vice president at Legends Global Partnerships. They will be partnering with several Yankees executives, including Michael J. Tusiani, the organization’s senior vice president of partnerships.

The patches will be 4-by-4 inches on the right or left sleeve of players’ uniforms. In April, the San Diego Padres became the first MLB club to announce a jersey patch, signing a contract with Motorola.

The NHL will allow jersey patches for the first time in the 2022-23 season, while the NBA has had jersey patches since 2017. Boardroom, a media company owned by Brooklyn Nets star Kevin Durant and longtime sports executive Rich Kleiman, reported late last year that the total value of the NBA patches for the 2021-22 season would be $225 million, up from the $100 million that league commissioner Adam Silver envisioned a few years earlier.

For partnership inquiries, please contact Lauren Hutt, lhutt@legends.net

IU Partners with Legends to Deliver Expanded and Improved Merchandise Experience to Hoosier Fans

Posted on by Ryan Schroder

Whether you’re shopping for IU merchandise on-line, in-person, or on game-day, Hoosier fans can look forward to a brand-new, world-class experience.

Today, Indiana University and Legends announced a new multi-year partnership to provide Hoosier fans with the very best in officially licensed Indiana University merchandise in-store, at events and online. Last week, Legends Global Merchandise unveiled its initial line of merchandise offerings for Hoosier fans on-line at https://shop.iuhoosiers.com. Later this summer, Legends Global Merchandise will also re-open the familiar on-site retail shopping options for IU fans in both Simon Skjodt Assembly Hall and at the Carmichael Center located across from the Indiana University Sample Gates on Indiana Avenue.

Hoosier fans can look forward to not only a best-in-class shopping experience that includes adidas and other top apparel manufacturers, but also an ever-expanding assortment of merchandise options in the coming weeks and months. Shirts, sweatshirts, hats, outerwear and even memorabilia will be among the offerings both on-line and in-person.

As part of its retail operations efforts, Legends Global Merchandise will also significantly expand to on-site options for Hoosier fans on IU Football gamedays at Memorial Stadium.

“We are excited to partner with Legends to offer Hoosier fans everywhere a new-and-improved experience when it comes to officially licensed Indiana University merchandise,” said IU Vice President and Director of Intercollegiate Athletics Scott Dolson. “The Legends Global Merchandise team has a well-earned reputation for providing fans of all ages with a wide variety of options and a world-class shopping experience, both on-line and in-store.  As an Indianapolis-based company, they also have a first-hand feel for what Hoosier fans want. While I’m excited about what this partnership means for our department, I’m most excited about what it means for our fans who are always so proud to show off their support for IU with what they wear.”  

Added Dan Smith, President, Legends Hospitality: “We are proud to add Indiana University to our growing roster of NCAA partnerships for Legends Global Merchandise. Our team will work closely with IU, using a tailored, data informed approach, to expand the retail product assortment and deliver a best-in-class omnichannel retail experience for Indiana University students, alumni, and fans.”

Legends Global Merchandise is the premier event retail and merchandising company in the world, having worked with some of the top brands in sports and entertainment. The company is building a roster of NCAA partnerships to operate the official athletics department shops, including current partners Purdue University, Ohio State University, Villanova, and Georgia Institute of Technology. As well, this year, Legends Global Merchandise kicked off a partnership to operate merchandise for The College Football Playoffs.

Legends Acquires Minority Stake In American Ultimate Disc League

Posted on by Ryan Schroder

Via Forbes

Legends, a sports advisory and experiences company co-founded in 2008 by the New York Yankees and Dallas Cowboys, has acquired a minority stake in the American Ultimate Disc League (AUDL). The AUDL, which was founded in 2012, has 25 teams in the United States and Canada.

This is the second time Legends has made an equity investment in a sports league. In August 2021, Legends bought an ownership interest in the Professional Fighters League, a mixed martial arts organization.

Legends plans on completing more equity deals in the months and years ahead, primarily in small, recently launched leagues. The AUDL transaction is part of a strategy Legends has implemented since the company earlier this year acquired Maestroe Sports & Entertainment, a consulting and services company focused on so-called “high growth” leagues that are in their early states or have the potential to grow.

As part of that Maestroe deal, Legends launched its Legends Growth Enterprises division, through which the company invests in leagues and helps them with their sponsorships, media rights deals, merchandising and other areas.

Maestroe had been advising the AUDL since 2019, but this expands the relationship through the equity stake and providing more services such as merchandise, data analytics and possibly expanding to other countries.

“This is a very real world example of how now being a part of Legends, we’re able to do so much more for the AUDL than we previously would’ve been able to when we were just Maestroe,” said Gabby Roe, the president of Legends Growth Enterprises who founded Maestroe in 2012. “This is showcasing the vision we had for this Legends Growth Enterprises division.”

Roe would not disclose financial details of the AUDL investment. But a group led by Rob Lloyd, the former president at Cisco Systems CSCO -1.8% Inc., will hold a majority ownership stake in the AUDL. That group had bought a 90% stake in the league in December 2012.

Meanwhile, Steve Hall will remain the AUDL’s chief executive and commissioner. Hall, who started playing Ultimate in 1985 as a sophomore at Georgia Tech, worked for 13 years for Goldman Sachs and Citigroup C -0.1% and launched his own private-equity firm in 2011. He got involved in the AUDL in 2016 when he became co-owner of the league’s team in Atlanta. Two years later, he was named CEO and commissioner.

“I tell people this was the great opportunity of a lifetime where my hobby, my passion for playing Ultimate, comes together with my business acumen in terms of building companies and being in the private equity world,” Hall said. “I still have some private investments that I have on the side, but I’m pretty passive with those now. This is absolutely my full-time. I’m back to 12 to 14 hour days. I feel like I’m back to Goldman Sachs all over again, but like they say, it’s not a job if you enjoy what you’re doing, and I definitely am enjoying it. I’m fully active and fully engaged seven days per week.”

Since its founding 10 years ago, the AUDL has grown from 10 to 25 teams. The regular season runs from late April through late July, with each team playing 12 games. The games are usually on Saturday nights, but some are on Friday nights and Sunday afternoons. The top 11 teams advance to the playoffs, culminating with a championship weekend on Aug. 26 and 27 at Breese Stevens Field in Madison, Wisc.

Players in the league receive a small stipend and have their uniforms and travel costs covered, separating it from other Ultimate leagues where players pay to compete. The teams also each have a physician, trainer and health and services manager that can help them train and recover from injuries. About 90% of the AUDL players are former college players who now have full-time jobs while the others are current college students.

Each team is independently owned and generates revenue through ticket sales, merchandise, concessions, local sponsorships and youth camps and clinics.

The AUDL’s league office, meanwhile, earns money primarily through national sponsorships and media and data deals. The league has a contract with Fox Sports, with the network’s Fox Sports 2 cable channel airing AUDL games on Saturday nights and showing replays on Wednesday nights. It also has its own streaming service, AUDL.tv, where fans can pay $9.99 per month to watch all the games.

In April, the AUDL signed a five-year deal LSports Data, an Israeli firm that will have access to AUDL’s player and game data and create gambling products for companies such as DraftKings and FanDuel.

Hall is looking to expand the AUDL’s betting deals and get into video games, non-fungible tokens, customized discs, shirts and gear and other areas. The AUDL plans on working with Legends’ technology group that specializes in collecting and analyzing customer data.

“We can make a lot smarter decisions in how we market and advertise to those people,” Hall said. “Now we have a lot more data behind us when we go and talk to a sponsor, discuss the breakdown and why the sponsor might really like the clientele of the AUDL.”

Last year, Sixth Street, an investment firm, acquired a majority stake in Legends that valued the company at $1.3 billion. Legends works with clients in professional and college sports and entertainment, helping them with business plans, sponsorships, arena naming rights, hospitality and numerous other areas.

“What we see Legends being able to do is they provide a level of service that we wouldn’t be able to touch for years and years,” Hall said. “We’re too small for the Legends’ typical clientele. The fact that they are excited to look at the emerging sports they think could be the next big thing and they want to partner with us is terrific. We think they’re going to really help raise our profile and provide high-quality talent at scale, which we wouldn’t have been able to get otherwise.”

United Soccer League Taps Legends for Decade-Long Sales and Fan Effort

Posted on by Ryan Schroder

Via Sportico

The United Soccer League has inked a 10-year deal focused on maintaining growth momentum with Legends, the experiential and data and analytics business, the two companies announced this morning.

Legends will seek to boost national sponsorship sales, generate actionable fan insights and uncover innovative business solutions for the men’s and women’s teams through the USL’s leagues. The USL has professional and club teams in about 200 communities in the U.S., and has designs on challenging MLS supremacy for the sport by aligning with the global soccer norms around season timing and possibly embracing relegation, according to an April story in the Sacramento Bee.

“This long-term partnership with Legends will help us take advantage of the tremendous opportunity ahead of us,” said USL CEO Alec Papadakis in a press release. “We are aligning more closely with the global game than any other American soccer property, and as we enter a critical, new growth phase for our commercial business, Legends’ unmatched expertise in both global football and the domestic sports landscape will help us achieve our key business objectives.”

The USL operates three professional leagues: the USL Championship in men’s soccer, the USL Super League in women’s soccer and USL One, another men’s league. The organization also operations two “pre-professional leagues” and two national youth leagues.

Legends, started by the Dallas Cowboys and New York Yankees to operate their new stadium offerings in 2008, has extensive experience in working with soccer organizations, including a recent deal to revamp Real Madrid’s stadium. Legends will work with the USL to increase its local presence and grow through stadium planning, ticketing strategies, naming rights and sales, merchandising and other areas, according to the release.

In particular, the organizations see the 2026 men’s World Cup being held mainly in the U.S. as a key event to help market and promote soccer in the U.S., according to the release. Terms of the partnership with Legends weren’t publicly disclosed.

Click here to read the full article.