BIG(er) Decisions

Big Ten football will be back in action on Oct. 23-24 after university presidents and chancellors from the conference voted unanimously to reinstate the season. The decision came a little more than a month after the conference postponed because of COVID-19 concerns including a lack of testing abilities and long-term effects of the virus like myocarditis. 

Per the Big Ten, the reversal came as a result of “new information” presented in the past week, alongside the establishment of new safety protocols. Updates regarding fall sports other than football, which will also require testing protocols before they can resume competition, will come at a later date.

The Pac-12 is the only remaining Power 5 conference planning for a fall without football. Commissioner Larry Scott said its California and Oregon schools are now in contact with local health officials on when they can resume practice.

Big Ten Season Details: 

• Teams will play eight regular season conference games.
• The conference’s season will finish in time for the College Football Playoff Selection Day on Dec. 20.
• No public ticket sales to any Big Ten football game — the conference is discussing ways to allow family members of athletes and staff into the stands.

Testing Protocols: 

• Daily rapid tests.
• Screening for myocarditis and other cardiac issues.
• Athletes who test positive won’t be able to return to practice for at least 21 days and must be cleared by a cardiologist.
• If more than 5% of the team tests positive, practice and competition will be halted for at least 7 days.

Alongside the Big Ten’s decision, the NCAA Division I Council announced that both the men’s and women’s 2020-21 basketball seasons would begin on Nov. 25, just 15 days after the original start date.

It’s an important step toward ensuring not only that athletes get a full basketball season — the 2020 season was cut short due to the onset of COVID-19 in March  — but that the NCAA and its member schools receive the lucrative payout that the men’s March Madness tournament rakes in every year. 

Slam Dunk Business:

• The NCAA’s current March Madness media rights contract with CBS and Turner pays out $10.8 billion over 14 years, from 2011 to 2024. An eight-year contract extension pushed the deal through 2032, and will pay out another $8.8 billion.
• In 2018-2019, the NCAA received $867.5 million of those TV and marketing rights for March Madness.
• The NCAA sent about $375 million less than was expected to Division I programs this year due to the cancellation of the event.

MLB Commissioner Rob Manfred is optimistic there could be fans at the World Series and League Championship Series this fall. Manfred made those comments just before the formal announcement of a 16-team postseason bubble.

The first eight series of this year’s playoffs will be played at the home park of the better-seeded teams, while the remaining series will move to bubble sites in California and Texas. The World Series will be played at Globe Life Field in Arlington, Texas. 

MLB Roundup:

• Up to $1 billion in revenue from playoff broadcast deals.
• Fans could help bolster the playoff haul, as they make up approximately 40% of MLB’s overall revenue through ticket sales, concessions, parking and merchandise.
• The 16-team playoff format is likely to remain beyond 2020.
• Manfred is optimistic 2021 will include fans at a larger scale.
• The permanent status of temporary rule changes — like adding a designated hitter in the National League and extra-inning rules — is still up in the air.

Zwift announced it raised $450 million in a new investment round. The training platform — which has more than 2.5 million registered users in 190 countries — is a $15-per-month app that allows users to interact, train, and compete against each other through pairing to a smart bike or treadmill. 

The new round of funding, led by KKR & Co Inc., will be used in part to bring Zwift hardware to the market. Private equity firm Permira, Amazon Alexa Fund, and Zone 5 Ventures — Specialized Bicycle Components’ venture capital fund — were also investors in the round.

Like other at-home digital fitness companies, Zwift has benefitted from users looking for ways to stay active and social amid the COVID-19 pandemic. For example, it hosted the first Virtual Tour de France in July, which was broadcast in over 130 countries and drew 117,000 users. 

The Growth Of Online Fitness:

• A TD Ameritrade poll recently found that 59% of Americans would not renew their gym memberships even after the pandemic is over.
• On Tuesday, Apple announced its Apple Fitness+ app, which Peloton CEO John Foley — whose company saw fourth-quarter sales jump 172% year-over-year — said legitimized fitness content.
• Peloton also reported a 210% increase in digital subscriptions in Q4.
• Lululemon purchased home fitness platform Mirror this summer for $500 million.
• Online orders for fitness equipment increased 220% in May and 122% in June compared to 2019.