Major shifts in the college conference landscape have caught the attention of a rising player in sports streaming.

Apple has reportedly restarted talks with the Big Ten following the news that USC and UCLA are joining the conference in 2024, per Sports Business Journal. The conference’s current six-year media deal, which pays around $440 million per year, expires in 2023.

Media rights for the Big Ten’s next deal are already mostly divvied up, but there are still games available.

• Fox Sports already has a deal for at least half the Big Ten’s games. 
• CBS is reportedly likely to secure a package including Saturday afternoon football games.
• Apple may now reenter the fray for a third package, along with Amazon, ESPN, and NBC.

The total package was thought to have the potential to reach $1.1 billion before the two big-draw Los Angeles-area teams joined. 

Apple TV+ has been developing its sports portfolio, which includes a package of Friday MLB games and a 10-year streaming deal with MLS.

Irish Independence

Notre Dame returned to football independence in 2021 while playing five ACC schools, but there are rumblings it could make the leap to the Big Ten as a full-time member.

The school has its own one-of-a-kind media deal with NBC, which runs through 2025 and pays a reported $15 million annually. Should it join the Big Ten, it, along with the other schools in the conference, could pocket $80 million to $100 million, per ESPN.

The National Women’s Soccer League will expand to 14 teams, likely by 2024, according to commissioner Jessica Berman.

The start date hasn’t been confirmed by the league, which is finalizing a contract with an investment bank to handle the expansion process.

One of the two expansion teams is expected to be the Utah Royals FC, who moved to Kansas City at the end of 2020 to become the Kansas City Current.

“There are steps that need to be taken still in order to be in a position to be able to say, yes, in fact, that is happening,” Berman said about the team’s return.

David Blitzer, co-founder of Harris Blitzer Sports & Entertainment, and Smith Ownership Group purchased Real Salt Lake — the Royals’ MLS counterpart — earlier this year for a reported $400 million.

• When the Royals moved, Real Salt Lake kept the rights to the team name and branding.
• It could bring back the NWSL club in 2023 or 2024 for a predetermined fee.
• There’s no public frontrunner for a second expansion team, but more than 30 investment groups are reportedly interested in the league.

Valuation Station

It’s unclear how much the return — or expansion — fee is. NWSL franchise valuations have reportedly increased tenfold over two years, and outlets are reporting that Berman is working with RSL’s ownership for an updated fee.

“The market will tell us what the price should be,” Berman said. “Certainly, our teams raising capital have helped change the nature of the conversation of how much our franchises are worth.”

Endeavor Group entered an agreement in September 2021 to acquire sports betting company OpenBet for $1.2 billion — but that number fell significantly on Thursday.

The revised deal will be worth $800 million, according to an SEC filing, with a shift in the makeup of the deal. Light & Wonder, OpenBet’s current owner, will receive $750 million in cash and $50 million in stock.

• The original deal was worth $1 billion in cash, with the rest in Endeavor shares.
• The acquisition is expected to close by the end of the year.

The filing did not provide a reason for the price drop, but deteriorating market conditions and falling stocks have affected valuations. Light & Wonder has fallen 45% from the announcement of the deal. Endeavor has fallen 28%.

The deal will combine OpenBet with IMG Arena, Endeavor’s existing sports betting unit, which works with more than 470 sportsbook brands. The division provides live streaming and on-demand virtual sports products for clients including the PGA Tour, Ryder Cup, UFC, MLS, and Wimbledon.

OpenBet focuses on licensed customers and regulated gaming markets. In September, Endeavor CFO Jason Lublin said the combined entity would form a new, fourth reporting line starting with $340 million in annual revenue.

New Name

At the time of the acquisition news, Light & Wonder was called Scientific Games. After  the Endeavor acquisition last year and the $6.05 billion sale of its lottery business to Brookfield Business Partners, Light & Wonder rebranded from Scientific Games earlier this year.