BEGIN:VCALENDAR VERSION:2.0 PRODID:-//InvisionCommunity Events 4.7.23//EN METHOD:PUBLISH CALSCALE:GREGORIAN REFRESH-INTERVAL:PT15M X-PUBLISHED-TTL:PT15M X-WR-CALNAME:RMCommunityCalendar NAME:RMCommunityCalendar BEGIN:VTIMEZONE TZID:Europe/London TZURL:http://tzurl.org/zoneinfo/Europe/London X-LIC-LOCATION:Europe/London BEGIN:DAYLIGHT TZOFFSETFROM:+0000 TZOFFSETTO:+0100 TZNAME:BST DTSTART:20250330T020000Z RRULE:FREQ=YEARLY;BYMONTH=3;BYDAY=-1SU END:DAYLIGHT BEGIN:STANDARD TZOFFSETFROM:+0100 TZOFFSETTO:+0000 TZNAME:GMT DTSTART:20251026T020000Z RRULE:FREQ=YEARLY;BYMONTH=10;BYDAY=-1SU END:STANDARD END:VTIMEZONE BEGIN:VEVENT SUMMARY:Economic Corner 13 - 02/15/2025 DTSTAMP:20250215T071756Z SEQUENCE:0 UID:194-7-c3fe8195a3dde498d013e477e2142422@aalbc.com ORGANIZER;CN="richardmurray":troy@aalbc.com DESCRIPTION:\n Economic Corner - what is the truth of investment in the sport industry in the usa?\n\n Key points \n\n One hundred and fifty mill ion is the most recent value of starting a WNBA franchise \, fifty million initially and then one hundred million through promised infrastructure pl ans.\n\n The WNBA franchise in Chicago was started for five million dollar s\, in Oprah Winfrey's beloved town\, by a white man who had less money th an Oprah\, and was absent any promises of future investment.  \n\n No maj or league\, major league defined as a team determined the primary athletic tier\,  from the NFL to the National Women's Hockey League has a black o wner. For example\, baseball has a black owner in the minor leagues of bas eball. \n\n Opportunities to invest in the sporting world in the usa and become the owner to a franchise exist that are affordable. The Black popul ace in the usa through individuals or group of individuals have the annual revenue or saved wealth to make the investments.\n\n Now some restriction s\, most sport organizations in the usa\, demand owners be single individu als. There are cases of ownership groups but they are not common. Sometime s investment firms or corporations are allowed to own a team\, like RedBul l  owns RedBull NY but the process of a large set of individuals to becom e a corporation and then to own a team is a longer process time wise\, and in that time will challenge the devotion of the members. \n\n So based o n womens sport leagues financial growth\, black individuals of the highest financial caste have already missed out on financial growth of circa nine ty six percent. That is financial failure. \n\n *\n\n Why aren't the Blac k wealthy\, the black one percent\, investing in sport to become owners of franchises in the usa? \n\n What is the truth of investment in the sport industry in the usa? \n\n *\n\n If an opportunity to invest to become an owner exist\, if you have the money to make the investment safely\, then the question is why don't you ? \n\n Only five answers exist\, and I will list them first. \n\n They aren't investing because:\n\n 1.they don't kn ow the opportunity exist\n\n 2.they know the opportunity exist and want to but can't do it alone\n\n 3.they know the opportunity exist and want to b ut can't get a group\n\n 4.they know the opportunity exist and don't want to because they are interested in investing in other fields\n\n 5.they kno w the opportunity exist and don't want to because they are interested in i nvesting in the sporting field but want a safer investment\n\n *\n\n All a re possible. \n\n 1.I know of blacks who don't like sports for various re asons so I can believe some don't know \, they have such a dislike of spor t that the thought is away from them. \n\n 2.Five million is a lot of mon ey and the average Black millionaire in the usa can't risk five million do llars. so I can see many can't do it alone. And adding the modern heritage \, a lack of communalism in the black populace in the usa\, reaching out t o a financially wealthy black stranger does not seem common. \n\n 4. I kn ow of a black former nba player who owns a tech firm another who owns a ca r dealership network. So\, just because a black person is involved in spor t doesn't mean they want to invest in sport and that is fine. Again\, it i s called free market capitalism for a reason. It isn't slave market capita lism. You are free to invest how or where you want\, that is the point. \ n\n 5. I don't have private financial data to the black wealthy\, one mill ion or more saved or earned\,  in the usa. But\, from white owned media\, most black sports investment is as shareholders\, not majority owners. So based on advertising\, most black wealthy seem convinced in safer bets in the sporting world. I will rephrase\, black wealthy like hedging their be ts where white wealthy can cover for them. The positive angle is Lebron Ja mes for example. He invested in one percent of Liverpool football club. No w\, the investment group from boston that owns the red sox and bought Live rpool is looking to sell. Upon the sale\, Lebron can cash in and earn more than he put in or keep it in and ride the growth for longer. I can think of many shareholder investments in sport by the Black wealthy. Looking to sell is a common tactic in modern sport\, buy and wait for a few years and then sell where you cash in or keep your money in and have it grow. After a sale to some buyer somewhere for more money who has a similar plan\, to sell after a set of years\,  or isn't looking to sell and has a non fina ncial agenda. I have seen this with some WNBA teams with ownership groups who never want to sell the club \, just want it is a long term investment to leave to the next generation it seems.  The negative angle is the prea ching from black millionaires or better to the black financial poor or com mon in the usa concerning becoming investors  when black millionaires or better are not willing to invest? If Black financial speakers don't compla in about black wealthy evading ownership and becoming shareholders\, then said black financial speakers need to not speak on black poor or non wealt hy not willing to risk their pennies. The bigger issue is\, if you don't o wn \, you don't control. Minority investment\, minority shareholding \, is a great way to make money off of others risk but a terrible way to contro l things\, cause you can't control any firm unless you are a majority shar eholder or owner. \n\n 3. you may have noticed I put this last. The one t hing I rarely hear\, i did hear about Tony Parker with a set of other athl etes investing as a group into Olympique Lyonnais\, is group investments i n sport. \n\n I remember when Isiah Thomas owned the remade CBA\, and I w ondered who else invested with him. I never found out but I do wonder abou t many black wealthy people and their collaborative abilities with other b lacks. I can believe Oprah Winfrey can't make a group to easily cause it i s public knowledge she has many who don't like her in the black one percen t. But it is clear the Black one percent need more internal interlinking.  \n\n URL\n\n https://www.thestar.com/business/edward-rogers-argued-again st-a-toronto-wnba-franchise-but-tanenbaum-went-ahead-and-got-one/article_d de69db8-1dea-11ef-8828-3fa01376cfbd.html\n\n\n\n Edward Rogers argued agai nst a Toronto WNBA franchise — but Tanenbaum went ahead and got one. Who was right?\n\n Fifteen years after being denied a Toronto women’s team by the NBA\, economic experts say Kilmer Sports Ventures’ $50 million pu rchase of a WNBA franchise will likely be a slam dunk. \n\n Updated Dec. 12\, 2024 at 1:47 p.m.\n\n May 31\, 2024\n\n By Josh RubinBusiness Reporte r\n\n What did Larry Tanenbaum see in a WNBA franchise that Edward Rogers didn’t? \n\n\n\n Plenty\, say sports business experts and women’s spo rts advocates\, who argue the franchise granted to the Toronto businessman and sports industry investor will be a big success — at least off the c ourt.\n\n\n\n “I think it’s going to be a success. I think the franchi se is going to be worth $100 million\, $150 million in the next few years\ , pick a number\,” said long-time sports industry executive Richard Pedd ie.\n\n\n\n Tanenbaum\, through his firm Kilmer Sports Ventures\, was rece ntly awarded an expansion franchise in the premier women’s pro basketbal l league in exchange for a franchise fee of $50 million (U.S.). As part of the deal with the league\, Kilmer also agreed to other financial commitme nts — including renovations and building a practice facility — which a league source says brings the total value of the deal to $150 million (U. S.).\n\n\n\n More than fifteen years ago\, when he was CEO of Maple Leaf S ports &\; Entertainment\, Peddie was a big proponent of the organizatio n’s push to get a WNBA franchise. He and Tanenbaum — who still owns a chunk of MLSE — were shot down by then-NBA commissioner David Stern.\n\n \n\n Tanenbaum\, said Peddie\, never really gave up his hope of a team. Th at vision clearly wasn’t shared by Edward Rogers and Tony Staffieri\, th e chair and CEO\, respectively of Rogers Communications\, one of MLSE’s parent companies\, along with BCE Inc. and Kilmer.\n\n\n\n As reported by the Star\, Rogers and Staffieri argued against MLSE bidding for a WNBA tea m\, despite an internal MLSE business case which projected the team would eventually become profitable.\n\n\n\n Expansion franchises in any league c an have a shaky few years when they start. But there’s already ample pre cedent in Toronto for a new team proving to be a good investment\, said Pe ddie.\n\n\n\n “You think about Toronto FC. There were people who thought us buying Toronto FC for $10 million was crazy\, was the stupidest idea g oing. Now\, some people would say it’s worth $700 million. That’s wher e Larry’s coming from\,” said Peddie. “When we bought Toronto FC\, w e weren’t projecting it to make any money right off the bat. But we were amazingly profitable in the first couple of years.” \n\n\n\n Victor Ma theson\, a professor of economics at College of the Holy Cross in Massachu setts who specializes in the economic impact of the sports industry\, says there are plenty of reasons to expect Toronto’s WNBA team will be a fin ancial success\, including the precedent set by the NBA’s Raptors.\n\n\n \n “Toronto certainly has a chance to be a good market for the WNBA. The reason we know this is that obviously it’s been a great market for the NBA — a lot of success with the Raptors\,” said Matheson\, who added t hat Toronto also has a track record of supporting high-level women’s spo rts. “The Canadian women’s soccer team has done fantastically. And the re was just a spectacular inaugural season in the PWHL.”\n\n\n\n So why wouldn’t those factors be obvious to other potential investors in additi on to Tanenbaum? A failure of imagination\, said Matheson.\n\n\n\n “I th ink what a lot of owners and broadcasters have lacked is the imagination t o realize what a hit women’s sports can be\,” said Matheson. “They say ‘well\, why should we even try to ask for a lot of money for TV rig hts\, or why should even think about paying a bunch of money for TV rights . I can’t imagine anyone going and watching these games\,’ so they d on’t even try.”\n\n\n\n Having the star power of rookie Indiana Fever point guard Caitlin Clark in the WNBA is helping everyone from sponsors\, teams and the league itself get that spark of imagination\, Matheson said. The season-opening game of the WNBA’s Connecticut Sun against Clark’s Fever was a sellout\, with more than 9\,000 fans\, the team’s highest a ttendance in 20 years.\n\n\n\n “They weren’t just paying the $10-$15 W NBA price\, but scalping tickets for $50 or $100 apiece. As soon as people see things like that\, they can start to imagine that ‘hey\, this is so mething that really could work\,’” said Matheson.\n\n\n\n The fact tha t big-time sports investment has traditionally been male-dominated has als o played a role in the failure of imagination\, says Allison Sandmeyer- Gr aves\, CEO of Canadian Women and Sport\, an advocacy organization.\n\n\n\n “It’s a safe bet that was a factor\,” said Sandmeyer-Graves. “Whe n you start from a place of not respecting women’s sports\, it’s reall y hard to see the value in it.”\n\n\n\n Recent surveys done for CWS\, sa id Sandmeyer-Graves\, give plenty of cause for optimism that Toronto’s a s-yet unnamed team will be a financial success. Sandmeyer-Graves pointed t o results which found that 17 million Canadians called themselves fans of women’s sports. And the gender breakdown wasn’t what some people might have assumed.\n\n\n\n “What was really cool in the research we just rel eased was to see actually\, fans of women’s sports are almost 50-50 men and women\, and it’s even a little bit higher for men\,” said Sandmeye r-Graves.\n\n\n\n And\, she added\, the surveys were done before the inaug ural season of the Professional Women’s Hockey League\, which has a fran chise in Toronto.\n\n\n\n “So it’s not just the novelty of the first s eason of this new league\, said Sandmeyer-Graves. “There’s latent dema nd in Canada for women’s sports that hasn’t been fully met.” \n\n\n \n Still\, there will inevitably be bumps in the road\, just like there ar e with any start-up franchise. Detractors\, she argued\, won’t be playin g fair if they use those bumps to try and shoot down the team’s long-ter m prospects.\n\n\n\n “I think we need to give this team the same grace a nd patience that we have given to other teams in the past. So often\, when it’s not a success straight out of the gate\, it’s seen as just more evidence that women’s sports just aren’t successful\,” said Sandmeye r-Graves\, adding that Tanenbaum seems like a patient investor who’s in it for the long haul.\n\n\n\n “I’m not saying MLSE wouldn’t have bee n the right fit\, but clearly\, they didn’t feel like they were the righ t fit. … Where it goes in five years\, we’ll see. But it seems like they’re starting off on the right foot.”\n\n\n\n Josh Rubin is a Toron to-based business reporter. Follow him on Twitter: @starbeer.\n\n\n\n Prio r Economic Corner: https://aalbc.com/tc/topic/11475-economiccorner012/\n\ n\n\n  \n\n\n\n IN AMENDMENT\n\n\n\n What is annual average cost [players /stadium/staff/utilities] of the least costly to operate professional\, me aning paid athlete\, sport team in the city you live in?\n\n\n\n The follo wing is content in normal weight font unverified . I did a general search\ , \"average yearly cost of LEAGUE NAME team\"\n\n\n\n New York City has al l the major leagues and many minor. \n\n\n\n The cheapest team is a Premi er Women's Hockey Alliance or Roller Derby\, the womens football alliance team in nyc folded. Now\, white people say Washington DC/Atlanta/Charlotte are the three cities with the most black millionaires. Jackson Missisippi is the only city in the usa with over eighty percent black population. Bu t NYC has a larger population of black people than any city in the usa by a distance. So the question is are any of the sports franchises with the l owest annual cost cheap enough for a black multimillionaire in new york ci ty to risk? i argue yes\, but to each their own.\n\n\n\n  \n\n\n\n WNBA\n \n\n\n The average yearly cost of an WNBA team is estimated to be aroun d $13.2 million1. The average team is worth an estimated $96 million\n\ n\n\n Premiere Lacross Leauge\n\n\n\n The average yearly cost of a Premie r Lacrosse League team is estimated to be around $10 million1. The reve nue per employee for Premier Lacrosse League is $203.2K2. The company op erates in the Spectator Sports industry3.\n\n\n\n Premier Womens Hockey Le ague\n\n\n\n The average yearly cost of a PWHL team is around $56\,500 USD2. The league requires each team to average between $45\,900 and $60\ ,500 per contract in lieu of a salary cap1. The minimum salary for PWHL players is currently $35\,000\n\n\n\n USL League 2 team \n\n\n\n The av erage yearly cost of owning and running a USL League 2 team ranges from $ 600K to $1M2. The initial franchise fee to buy into a USL 2 franchise is $75\,000\, which can be split into payments of ~$25K each year for three y ears3. Expansion fees in the USL Championship are $12 million in 20205.\n \n\n\n Womens Football Alliance- the gridiron\n\n\n\n The average yearly cost of a Women's Football Alliance (WFA) team is estimated to be around  $20\,0001. This budget covers expenses such as field rental\, equipment \, uniforms\, videography\, web hosting\, and some travel. If teams partic ipate in the playoffs\, the cost can be higher2.\n\n\n\n Frontier league b aseball team\n\n\n\n The average yearly cost of a Frontier League basebal l team is around $75\,000\, with a salary cap of $72\,000 per team125.  Most players earn between $1\,000 and $2\,000 a month during the summe r2. The highest paid players can earn up to $4\,000 a month2.\n\n\n\n Ma jor  league cricket\n\n\n\n The average yearly cost of a Major League Cr icket (MLC) team is estimated to be slightly above $1.1 million2. The s alary cap per team is $1\,150\,000\, of which $320\,000 is spent on Americ an players\n\n\n\n Overwatch league\n\n\n\n The average yearly cost of an Overwatch League team is approximately $1 million14. Team owners bough t into the Overwatch League for $20 million per slot ahead of its launch i n 20183. The average annual pay for an Overwatch League player in the Uni ted States is $121\,7652.\n\n\n\n Roller Derby\n\n\n\n Travel costs: Gotha m Girls Roller Derby $58\,260 Gotham paid out 23\,051 in 2011. Not sure wh ere you got the other number from.\n\n\n\n  \n\n\n\n Websites that state cities with the large numbers of black millionaires\n\n\n\n  \n\n\n\n htt ps://propertyclub.nyc/article/richest-black-neighborhoods-in-america#:~:te xt=Washington D.C. has the most Black millionaires in\,of government and m ilitary jobs in the area.\n\n\n\n  \n\n\n\n https://blackelites.com/top-c ities-in-the-u-s-with-the-highest-number-of-black-millionaires/\n\n\n\n   \n\n\n\n Why Black Millionaires aren't investing in sport\n\n\n\n POST URL \n\n https://aalbc.com/tc/topic/11479-economiccorner013/\n\n\n\n PRIOR EDI TION\n\n\n\n https://aalbc.com/tc/events/event/193-economic-corner-12-0212 2025/\n\n\n\n NEXT EDITION\n\n\n\n https://aalbc.com/tc/events/event/195-e conomic-corner-14-02152025/\n\n\n\n  \n\n\n\n 02152026\n\n\n\n  \n\n\n\n New Sports Leagues started in 2025\n\n\n\n  \n\n\n\n Article\n\n\n\n 10 Of The Top Emerging Sports Leagues To Keep An Eye On In 2025\n\nThe conver gence of sports\, media\, and technology has created a lot of opportunitie s.\n\nAs a result\, several new leagues are popping up across the world.\n \nIn the past 10 years\, there have been over 20 leagues started in over 1 5 sports.\n\nWhile this is great for underrepresented fans and sports\, th e unfortunate truth is that most of them won’t survive long-term.\n\nHer e are 10 leagues we believe have a good chance and why:\n\nUnrivaled Baske tball\nCo-founded by WNBA stars Napheesa Collier and Breanna Stewart\, Unr ivaled Basketball is a new 3v3 women’s professional basketball league th at is set to launch in January 2025.\n\nWith the recent boom in women’s basketball\, the league has already generated a ton of social impressions and engagement plus they’ve already surpassed projected financial target s.\n\nWith a strong leadership team and a superstar lineup of players\, th is league has the foundation to last a long time.\n\nTMRW Sports\nGolf has been booming since the pandemic and the anticipation for TMRW Sports is a s high as it’s ever been.\n\nFounded by Mike McCarley\, Tiger Woods\, an d Rory McIlroy\, TMRW Sports aims to create new ways to connect sports fan s with technology and culture.\n\nThe league is already valued at $500M an d has a strong cap table.\n\nThis plus their unique approach to a sport gr owing in popularity is a recipe for success.\n\nPro League Network\nIf the re is one thing fans like doing\, it’s betting and Pro League Network is building out the perfect ecosystem for it.\n\nPro League Network owns\, p roduces\, monetizes\, and distributes several super-niche sports including :\n\nSlapFIGHT\nCarJitsu\nTyre Wrestling\nSTR33T\nIf they can continue to generate unique\, entertaining ideas and content\, they’ll be around for a while.\n\nLeague One Volleyball\nLeague One Volleyball (LOVB) was found ed in 2020 by Katlyn Gao\, Peter Hirschmann\, and Olympian Kevin Wong as a network of youth volleyball clubs across the US.\n\nIn September 2022\, t hey raised $16.75M in a Series A funding round\, headlined by Billie Jean King and Kevin Durant. \n\nA year later\, the company raised $35M in a Ser ies B round led by Lindsey Vonn\, Jayson Tatum\, and Candace Parker.\n\nPr o volleyball has never seen a league like this before yet the sport is gro wing in popularity amongst young women and has a ton of athlete star power backing it.\n\nMajor League Pickleball\nPickleball is all the rave these days.\n\nOne of the fastest-growing sports in the US is headlined by a wel l-put-together league in Major League Pickleball (MLP) that has only been in existence since 2021.\n\nThe league has 24 co-ed teams that are backed by some of the best athletes\, entertainers\, and businesspeople in the wo rld.\n\nGiven that pickleball appeals to the masses\, has an easy learning curve\, and is not too taxing on the body\, we’re willing to bet that t he MLP will be growing like crazy over the next couple of years.\n\nUnited Soccer League\nSoccer is the most popular sport in the world\, but has ye t to take off in the US.\n\nThe United Soccer League (USL) is one of the l eagues that will help change that for both men and women.\n\nFounded in 19 86\, the United Soccer League is the largest and fastest-growing pre-profe ssional and professional soccer organization in the country. \n\nIt has se ven divisions with over 150 teams and is growing YoY.\n\nWith the World Cu p coming in 2026\, the USL is one league that is without a doubt going to boom.\n\nDrone Racing League\nI know what you’re thinking. Drone racing? \n\nBut get this…\n\nThere is a reason that Infinite Reality bought the Drone Racing League for $250M.\n\nFounded in 2015\, DRL claims to reach mo re than one billion annual digital video views and a global broadcast foot print of 320 million households through top sports networks and streaming distribution agreements.\n\nThe league also previously received investment s from notable sports\, media\, and technology entities\, including:\n\nRS E Ventures\nLiberty Media\nExor\nISOS Capital\nWWE\nT-Mobile Ventures\nCAA Ventures\nLux Capital\nLerer Hippeau\nCourtside Ventures\nSky\nHearst Ven tures\nImmersive experiences are just getting started and DRL is well posi tioned to be a leader in this category.\n\nThe Professional Women’s Hock ey League\nThe Professional Women’s Hockey League (PWHL) was only founde d a little over a year ago but already has hundreds of thousands of follow ers across Twitter\, Instagram\, TikTok\, and YouTube.\n\nRight after the league’s inaugural year ended\, there was talk of adding 2 expansion tea ms for the 2025-26 season.\n\nThe league already has great traction in Can ada\, where hockey is most popular\, but we wouldn’t be surprised if we start to see that success trickle down to North America as well.\n\nKings League\nIn just a year since its inception\, the Kings League recorded hig her viewership than La Liga and the Premier League on TikTok\, making it t he most-watched football league on the platform.\n\nThe league\, which is a seven-a-side soccer league\, was founded by legendary soccer star Gerard Pique who had a vision of leveraging content creators and their audience to create a unique fan experience for soccer.\n\nContent creator-led leagu es are interesting because there is already a built-in audience and distri bution which is half the battle.\n\nIf you can get and sustain attention i n sports\, you’re well on your way to building a successful league.\n\nG rand Slam Track\nMichael Johnson is one of the greatest track stars of all time.\n\nBut his legacy will likely be tied to his next venture Grand Sla m Track.\n\nThe brand new league will host four annual Slams in 2025 and h as a total of $12.6M prize money across the events.\n\nOlympic track athle tes are widely known for not making a ton of money despite their popularit y and appeal.\n\nThis model flips track and field on its head by bringing together the world’s fastest athletes for a chance to win big bucks.\n\n Given that sprinting is one of the oldest\, most beloved sports globally\, Grand Slam Track could be onto something.\n\n\n\n\n U.R.L. \n\n\n\n http s://blog.vettedsports.com/10-of-the-top-emerging-sports-leagues-to-keep-an -eye-on-in-2025/\n\n\n\n  \n\n\n\n https://www.unrivaled.basketball/\n\n\ n\n https://www.tmrwsportsgroup.com/\n\n\n\n https://www.thepwhl.com/en/\n \n\n\n https://kingsleague.pro/en/americas\n\n\n\n https://www.grandslamtr ack.com/\n\n\n\n  \n\n\n\n  \n\n\n\n  \n\n\n\n \n\n DTSTART;VALUE=DATE:20250215 RRULE:FREQ=YEARLY;INTERVAL=1 END:VEVENT END:VCALENDAR