Why Trump, Local Politicians Cared so Much About the Big Ten Restart

The Big Ten talk was part of President Donald Trump’s re-election campaign, experts say. For local politicians, it was an appeal to voters and a way to avert a local financial crisis.

By /
2020 NFL Season Likely To See Significant Betting Demand Increase

More than 33 million Americans are planning on betting this NFL season, with sportsbooks reporting an expected increase in wagers. Saturday betting volume could be down up to 70% with a light college football load, but that could translate to bigger Sundays.

By /
What Each NFL Team is Planning for Fan Attendance at Games in 2020

Here’s a look at what every NFL team has planned for in regards to fan attendance at stadiums for the 2020 season.

By /

More Layoffs

    • This article was first published in the FOS Daily Newsletter. Subscribe here.
    • Monumental Sports & Entertainment executives already took a pay cut earlier this year.
Carolina helmet
Jeremy Brevard-USA TODAY Sports

Daily Newsletter

Sign up and see why influential business executives call it a “morning must-read.”

Sports are back, but team layoffs continue. Tepper Sports & Entertainment, which owns the Carolina Panthers and Charlotte FC, announced Tuesday it furloughed more than 16 employees and laid off another three because of the pandemic.

The company’s owner, David Tepper, is the richest owner in the NFL and bought the Panthers in 2018 for $2.275 billion. He purchased the 30th MLS expansion team for $325 million.

Charlotte’s staffing changes come a day after Monumental Sports & Entertainment furloughed 232 employees. MSE owns the Washington Capitals, Wizards and Mystics, among other entities. Chairman Ted Leonsis said he hopes to bring back the staff when circumstances improve.

MSE’s executive team took a pay cut in April, with Leonsis and partners suspending their compensation. In June, employees earning $75,000 or more received a 20% pay cut through the end of the year.

Other organizations that have taken cost-cutting measures: 

— Boston Bruins and TD Garden

— Pegula Sports & Entertainment

— MSG Sports

— D.C. United

— Washington Nationals

Related
MLB Needs Fans

Due to the coronavirus pandemic, Major League Baseball cut its 162-game regular season down to 60 games and played with no fans in attendance, leading to a $3 billion loss […]

By /
No Bubble for NHL

The NHL is unlikely to stage its entire 2020-21 campaign in a bubble environment after using a two-city bubble model for its postponed 2019-20 season playoffs. The NHL Players’ Association […]

By /
Cal Recalculates Budget

The University of California, Berkeley athletic department had been facing a $55 million shortfall from its $100 million budget without football this fall — a sport it pins much of […]

By /
TikTok, by Walmart

Walmart has joined Microsoft’s bid for TikTok’s operations in the U.S., Canada, Australia and New Zealand. A deal for the social media platform is reportedly nearing completion, rumored to be […]

By /