On the latest Sporticast episode, hosts Scott Soshnick and Jacob Feldman are joined by Kurt Badenhausen to discuss some of the biggest sports business stories of the week, including a new No. 1 on the list of most expensive sports cards.
Kevin O’Leary of Shark Tank fame is reportedly among the buyers who spent a combined $12.9 million on a card autographed by Kobe Bryant and Michael Jordan. The hosts discuss why the card went for a record-breaking figure and what O’Leary might do with it in his collection, as well as how the emerging asset class of sports cards compares to other hot commodities like cryptocurrency.
Then they turn their attention the U.S. Open, which has built itself into one of the hottest tickets in sports, particularly for VIP and premium experiences that attract stars and other athletes to Arthur Ashe Stadium. Ticket sales drive more revenue than media deals for the tournament, with corporate hospitality and services specifically contributing $71 million of the U.S. Open’s $514 million in operating revenues as of 2023.
Lastly the hosts preview the college football season. With an era of revenue-sharing with players now upon us, schools appear to be doing just about everything they can to bring in extra dollars, from selling alcohol for the first time to hosting Metallica concerts. And yes, they’re also leaning on premium experiences created in stadium renovations, like Florida State’s $265 million makeover of Doak Campbell Stadium.
Luxury lounges bring in more gameday sales volume while also helping to encourage major gifts from big-time boosters, Badenhausen says. FSU coach Mike Norvell gave $4.5 million back to the program after a 2-10 season last year. The Seminoles will have a tough time getting off on the right foot this season, as No. 8 Alabama comes to town on Saturday. There are also three matchups pitting top-10 teams against each other over Labor Day Weekend, something Badenhausen says is only possible in today’s expanded playoff world. Plus, Week 1 of the college football season gives teams a chance to soak up attention before the NFL kicks off days later.
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