Sports programming is driving more big results for NBC Sports parent Comcast Corp., but also creating some potential financial pitfalls for the company.

The company said Thursday that sports generated “record total sales” and “our largest sports commitments to date” for its recently concluded upfront, particularly through a historic confluence in February 2026 between the Winter Olympics in Italy, Super Bowl LX, and the NBA All-Star Game. It further lauded Peacock and what it called “the most robust live sports offerings on any streamer, and that position will only strengthen with the addition of NBA coverage this fall.”

The arrival of the NBA and its $2.5 billion annual-rights fee, however, is also creating a full year’s worth of cost amortization to the company that will be incurred in the fourth quarter of this year. The NBA rights fees also helped fuel a recent $3 per month price increase implemented for most Peacock streaming plans. 

“We’ve talked about all the reasons we like the NBA so much before. But it’s a big investment,” said Comcast president Mike Cavanagh in an earnings call Thursday, referring in part to the league’s global appeal and its ability to help round out the company’s annual sports programming lineup. 

The company additionally said there will be a tough earnings comparison coming in the third quarter due to the historic revenue and viewership boosts generated last year for the Paris Olympics. That situation, however, is expected to turn with the high-profile start expected for 2026.

Cable Considerations

A spin-off of most of Comcast’s cable television networks into a separate company called Versant remains on track for completion later this year. Executives, however, did not address a recent report that the company is developing a new sports-related linear channel to help complement programming on Peacock. The separation will protect Comcast from a significant part of downside risk from the ongoing decline of linear television. 

“Everything is tracking really nicely to have Versant launch at the beginning of next year, end of this year into next year,” Cavanagh said. “Great leadership team, lots of energy. The work is well underway. I think they will hit the ground running.”

Broader Results

Comcast, meanwhile, posted a mixed report for its second-quarter earnings. The company saw both its linear TV and internet connectivity subscribers fall again, continuing a downward trend from 2025’s first quarter, while Peacock stayed flat at 41 million subscribers. 

Conversely, revenue of $30.3 billion, up 2%, and net income of $11.1 billion, up 183%, both beat analyst expectations. Despite the flat Peacock subscriber total, the streaming service continues to move closer to profitability, trimming its adjusted quarterly loss to $101 million from a comparable $348 million in the same period last year, while boosting revenue by 20% to $1.2 billion. 

“Over time, we’ll have the opportunity to drive Peacock subscribers higher as we leverage the NBA and other content and the continuation of consumer trends moving from the linear ecosystem to the streaming ecosystem,” Cavanagh said. 

Football is back, as the NFL preseason gets its earliest start in 25 years Thursday night.

The Lions and Chargers face off in the Pro Football Hall of Fame Game, which was last played during July back in 2000.

It kicks off a celebratory weekend in Canton, Ohio, which will see the smallest class since 2005—only four players—be inducted into the HOF: Antonio Gates, Jared Allen, Sterling Sharpe, and Eric Allen.

While most players taking the field at the 23,000-seat Tom Benson Hall of Fame Stadium on Thursday likely will not be on any Week 1 rosters, the annual preseason opener has continued to draw strong TV ratings in recent years.

• 2024: 5.2 million (Texans-Bears, ESPN/ABC)
• 2023: 6 million (Jets-Browns, NBC)
• 2022: 5.7 million (Jaguars-Raiders, NBC)
• 2021: 7 million (Steelers-Cowboys, Fox)

For comparison, the most recent NBA season averaged 1.53 million viewers per game across all national networks, and this month’s MLB All-Star Game drew 7.2 million viewers on Fox. NBC will broadcast the Lions-Chargers.

Game Time

The HOF game hasn’t been without its own challenges the past decade, though.

The game has been canceled twice—in 2016 due to poor field conditions, and in 2020 when the entire NFL preseason wasn’t played amid the COVID-19 global pandemic.

Last year’s game was cut short in the third quarter after inclement weather caused a delay and eventual permanent stoppage of play.

Under Construction

On Thursday, the HOF announced plans for a new building, the KeyBank Center, that will open in 2027 and host enshrinement events each summer. 

Last February, the HOF revealed separate plans for $80 million worth of renovations as part of a multiyear project.

Mike Repole is adding the UFL to his growing sports investment portfolio. 

The billionaire cofounder of Vitaminwater and Body Armor has made a major investment in the spring football league, making him a co-owner. 

Impact Capital, Repole’s private-equity firm, will now “lead the league’s business operations,” according to a statement from the league.

“I think today is the first day of the United Football League,” Repole said on Front Office Sports Today. “It probably took a couple of years for them to get comfortable and have the right conferences and leagues. I think they learned a lot.”

Before Repole’s investment, Fox owned half the league, with the other half co-owned by Dwayne “The Rock” Johnson, Dany Garcia, and RedBird Capital Partners. A league spokesperson declined to comment on how the league will be structured after Repole’s investment, but said he will not be the league’s majority owner.

ESPN and Qatar’s sovereign wealth fund also have previously undisclosed stakes in the league. Qatar’s investment authority did not immediately respond to a request for comment.

Repole has a net worth of $1.6 billion, according to Forbes. He was credited for helping revive St. John’s men’s basketball by injecting his alma mater with millions to spend on players; the Red Storm won their first Big East title since 1992 in March. Now the UFL is hoping he can have a similar impact. 

“He’s obviously a force of nature in so many ways,” UFL chief executive officer Russ Brandon told Front Office Sports. “His vision, strategy, marketing, brand-building, has a long track record of success.” Brandon will remain president and CEO of the league.

He joins the league after a disappointing second season that saw dips in ratings and attendance. Television viewership dropped 20% with an average of 645,000 viewers per game across Fox and ESPN-affiliated networks. Attendance dropped everywhere around the league except for Detroit, where the Panthers drew well in-state despite playing in an NFL market. Despite that, the league is also reportedly moving half of its franchises, including the Panthers, to new cities.

“We’re not looking to compete with the NFL,” Repole told FOS. “We’re complementing the NFL and riding off their momentum.”

The reported new destinations are Boise, Idaho; Columbus, Ohio; Orlando; and Kentucky. None of the new cities previously had USFL teams before the merger, though the Orlando Renegades played one season in the previous iteration of the USFL in 1985.

It’s not clear which team will move where. Repole told FOS one of his first moves will be to look at where the games are being played and possibly move them, including out of football stadiums. 

“I think that partnering up with some of these MLS teams is going to be very, very exciting,” Repole said. “When we have 12,000 fans in a 60,000 [capacity] stadium, it looks like a COVID game. When you have 12,000 fans in a 15,000 [capacity] stadium, you’re basically sold out.”

Brandon said Repole’s investment isn’t a bailout for the league. 

“I look at it completely differently,” Brandon said. “We’re going into Year Three of the UFL. When you look at our ratings and see over a million people touching our games and watching our games and a peak of two million, those are pretty powerful numbers. We’ve got a lot of work to do in local markets and the infusion of Mike and his team’s expertise that’s going to be one of our main efforts. We’re very pleased on what we have to build upon.”

Editors’ note: RedBird IMI, in which RedBird Capital Partners is a joint venture partner, is the primary investor in Front Office Sports.

—Ryan Glasspiegel contributed reporting.

Three weeks after Red Bull sacked team principal Christian Horner, Ferrari went the other way. 

The Scuderia announced Thursday that it has agreed to a multiyear extension for team principal Fred Vasseur, who joined the team in 2023 after six seasons with Alfa Romeo, now known as Sauber. The deal confirms that Vasseur will lead Ferrari into the next era of Formula One, as new regulations coming next year are expected to create a significant shake-up in the championship.

“Renewing Fred’s contract reflects our determination to build on the foundations laid so far,” Ferrari’s statement read.

The extension also ends rumors that the Italian manufacturer was looking to part ways with their French principal—with most of the speculation coming from Italian outlets. Horner was also linked as a potential option to replace Vasseur.

While the Scuderia sits at second in the constructors’ championship, it has fewer than half the points of first-place McLaren. Ferrari finished just 14 points behind McLaren last year after a third-place finish in the year before—Vasseur’s first year with the team.

Ferrari driver Lewis Hamilton defended Vasseur in June despite the seven-time world champion’s relatively slow start in his first season with the team. 

“He has my full support. It’s definitely not nice to hear that there are stories out there,” Hamilton said ahead of the Canadian Grand Prix. “I love working with Fred.” 

Hamilton added that Vasseur is the “main reason” why he joined Ferrari this season.

While Ferrari continues to be the most famous team in the sport, it has not won a constructors’ championship since 2008—the same year Hamilton won his first drivers’ championship.

Verstappen Staying, Russell Close to New Deal

Four-time world champion Max Verstappen was the top driver potentially on the move—but he confirmed Thursday ahead of the Hungarian Grand Prix that he will stay at Red Bull, at least through next year.

“I’m discussing with the team already the plans, the things that we want to change for next year. So that means that I’m also staying with the team for next year,” Verstappen said when asked about his future.

Verstappen’s statements come days after Red Bull advisor Helmut Marko confirmed Verstappen was staying put next year.

“I can confirm that Max Verstappen will drive for Red Bull in 2026,” Marko told German outlet Sport.de on Monday.

Verstappen had previously been linked to Mercedes for next season despite being under contract with Red Bull until 2028. Mercedes drivers George Russell and Kimi Antonelli have yet to secure deals for next year, though the former is reportedly close to a new deal, according to Sky Sports.

The multiyear deal would keep him with the German manufacturer until the 2027 season.