Transwestern’s Post

MAY 1st 2024 UPDATE: a long overdue post. The Tropicana Hotel closed back in April. (Demo has already begun). Just before that, renderings by Bjarke Ingles Group (BIG) were finally released (about a 3 month delay) showing a sweeping bulbous translucent membrane domed roof with a big side window (drawing comparisons to Sydney Oprea House and an armadillo). The team/ league/ MLBPA has agreed to play in the Triple-A Sutter Health Park (current home of the SF Giants AAA Affliate RiverCats) through 2027 where creative scheduling will provide the most professional baseball games at one site (AAA schedule boasts about 75 home games on top of the 81-ish MLB home games). Great ballpark BTW that opened almost 25 years ago just across the river from Downtown SACTO, technically in West Sacramento in an HNTB designed, 14,000 capacity (about 3,500 of those lawn / berm seats) gem of a ballpark. Now, the looming issuing facing the current ownership is where does the remaining $1.1 BILLION USD required for the vegas ballpark plan at Trop and LVB to rise from rubble of a former OG Vegas casino resort materialize? #sportsbiz https://lnkd.in/g8Kcnca9

Our new associate dean, Dr. Bri Newland, for the UCCS College of Business recently published an article in Sport Marketing Quarterly: https://lnkd.in/g-atb4ee The study evaluated professional sports team ownership and its effects on fan behavior. Along with her coauthors, they developed a process model to analyze owners' individual impacts on franchise outcomes like increased profitability and attendance, and consumer spending. Two key takeaways: Local owners who are perceived as "one of us" drive higher game attendance and fan spending; and  Early-tenure owners from the same city as the franchise showed positive results on outcomes. This study helps us better understand franchise owners and their contributions to team success beyond the field. #SportManagement #FanEngagement #LocalOwnership #SportsBusiness #SportFranchiseOwners #ProSports

Open your doors to instant brand recognition! Supported by a robust network of parents and families looking for proven results, our owners benefit from a built-in reputation. With decades spent making a mark in #supplementaleducation, our legacy becomes your advantage as a Sylvan owner. Why start from scratch when you can start ahead?

Increasingly, sports teams are activating the space surrounding their stadiums to create not only the ultimate game-day experience, but year-round destinations and the NBA is no exception. Clubs such as the Denver Nuggets, L.A. Clippers, Orlando Magic, and Oklahoma City Thunder are either building or on the cusp of building their own city squares adjacent to their current, new or impending arenas. "When the Toronto Raptors took the NBA title in 2019 and the Bucks won it all in 2021, it fortuitously showed the rest of the NBA — and their city councils — that Jurassic Park and Deer District, respectively, were boons. Between the watch parties, restaurants, hotels, office spaces and condominiums, the scene outside the game was just as must-see as the game." Read more about this evolving trend here, https://hubs.ly/Q02HQTvN0 #sports #mixeduse #entertainment #sportsanchoredmixeduse

The Gardner Institute was joined at our March Newsmaker Breakfast by business leaders and policymakers who shared the background and outlook for bringing new professional sports franchises to Utah. They discussed the legislation passed in the 2024 Legislative Session, the economic contribution of new professional teams, and the next steps to fund, plan, and operate National Hockey League and Major League Baseball organizations in Salt Lake City. Read more about the discussion in a recent article from the Deseret News!

In the dynamic landscape of business and marketing, the LA Clippers serve as a compelling case study in the transformative power of re-branding. In 2015, the franchise underwent a significant overhaul, unveiling a fresh logo, color scheme, and an updated mascot, marking a departure from the team's previous identity. This strategic move wasn't merely a cosmetic facelift but a deliberate effort to redefine the Clippers' image and distance themselves from past associations The re-branding journey allowed the team to shed the shadows of mediocrity, establishing a new narrative of ambition and competitiveness. In the years that followed, the Clippers evolved from an underdog status to a formidable contender in the NBA, a testament to how a well-executed re-branding strategy can breathe new life into a sports franchise, reshape perceptions, and ultimately elevate its position in the fiercely competitive sports industry. The Clippers' story highlights that, when wielded wisely, the power of re-branding isn't just a marketing tactic but a catalyst for profound transformation and success. #branding #rebranding #marketing #casestudy #strategy #brandingstrategy #marketingtactics https://lnkd.in/eRhigU9M

Ok, sports-related post, but it’s Grand Final weekend. If you don’t like it, shoot me. As a decades-long fan of a rival club, it’s hard not to (begrudgingly) admire the Penrith Panthers. They’re the first team since the 1980s to win the NRL three years in a row. If they beat Melbourne on Sunday, they’ll be the first team to go four-in-a-row since 1966. The story behind their success is also a great case study in the power of having a long-term plan and sticking to it. These days, every NRL franchise is madly scrambling to build their own version of the famed Panthers “Talent Factory.” But at the time, plenty of people thought the club’s single-minded focus on developing homegrown talent was a bad bet. The received wisdom was that if a team were to have any chance of being successful, they would constantly have to be in the market to buy superstars. The Panthers, on the other hand, were betting that they could grow a generation of champions. Obstacles and delays appeared. The famed five-year Panthers masterplan took almost a decade to bear fruit. Coaches came and went (and came back again). The I-told-you-so types found voice. The Panthers stuck to the plan. The result is the most dominant franchise the league has seen in six decades. And their dominance seems to have no end in sight. So, what can we mere mortals learn from this? Well, for one, some industries are far more dependent on the quality of talent than others.  Creative advertising is one of them. It always amazes me that companies in these fields don’t guarantee their long-term success by investing heavily in their own Talent Factories. (Why ad agencies don’t is a post for another day…) The other takeaway is that following the received wisdom in your industry can only take you one place – and that’s in the middle of the pack with all the other guys and gals. If you really want to breakthrough, you have to find the right basket, put your eggs in it, and hold your nerve. Of course, that’s easier said than done. But who aspires to be one of the also-rans?

At first glance, Wyc Grousbeck's decision to sell the Boston Celtics seems like a classic "buy low, sell high" scenario, especially after their recent NBA championship. However, the underlying reasons are far more nuanced and relate to estate planning. As NBA franchises appreciate in value, transferring ownership to future generations becomes increasingly complex due to tax implications and league ownership rules. Heirs may face significant estate taxes, and the NBA imposes stringent regulations on ownership transfers, making it challenging to keep the team within the family. High-value assets like NBA teams pose unique challenges. Owners often face substantial estate taxes when passing the team to heirs, potentially forcing a sale. Additionally, league rules can restrict ownership transfers, further complicating succession planning. These considerations underscore the importance of comprehensive estate planning for any high-net-worth individual or business owner. As an advisor, part of my role is to help clients navigate these complexities, preserve their legacies, and ensure smooth wealth transfers. Stay informed and plan ahead! 🏀💼 #WealthManagement #EstatePlanning #NBA #TaxPlanning #SuccessionPlanning

Sport is business. Very big business. But it’s much more than that to the fans. For them, their team is bound up with their identity, a source of pride, joy and connection, with indelible imprints on memory. Sports teams’ stadia serve important community needs: a rallying point for locals and for those who travel far because they want to be part of that community and emotional connection; a place of release and escape, especially in tough times and, in the best of times, factories of dreams. This is what makes the story of the Oakland A’s baseball franchise so sad. Abandoning its East Bay home after 123 years, fleeing to a planned new megastadium on the Las Vegas Strip. Sure, the Coliseum has been falling apart for years with the owner apparently indifferent to the comfort (and perhaps safety) of the fans. Apparently, his attempt to explain the move and apologize for leaving Oakland behind has not gone well. The A’s will start another chapter in a place where their name has no connection to locals, and will be a pure money play. The A’s may do quite well in their new home with long overdue investment. Or they may not. A few questions come to mind: 1. How should sports franchises think about their responsibilities to the communities in which they are based? 2. Shouldn’t there be some reciprocity of trust and loyalty? 3. Is this a peculiarly American phenomenon? It is completely impossible to imagine Liverpool F.C., for example, leaving Anfield for a brand-new home on a former industrial estate in North London; or Milan leaving the San Siro because prime real estate in Rome comes with massive government incentives. Like I said, no f------ way. Krazy George Henderson, the A’s fan who invented The Wave in 1979 must be livid. https://lnkd.in/dnCD5kEB #sport #business #OaklandA's #MLB

“The best way to scale the Franchisor is to scale the franchisees” J. Patrick Galleher. Awesome session to kick off the last day of #ifa2024, with great tips from Strategies for Growing Your Business 👏 👉 Creates cohorts of franchisees to help dial in on your ideal franchisee. Early adopters can be a different breed, analyzing cohorts can help Zors better identify ideal candidates which will scale and ramp better than early adopters. 👉 Give less territory away than more - You cant take territory away but can always provide more. 👉 Retaining corp stores can help with cash flow, as a strategy to think about as growing 👉 Unit level economics - Goal to create franchise P&Ls, see a lot of lack of rebate in P&Ls and a lot of opportunity for Franchisors here. Dont launch your ad fund too late and bake in regional co-ops in earlier than later. Otherwise you’ll get yourself into a roadshow to get an addendum to adjust 🤠 Scenthound Boxwood Partners i9 Sports Stretch Zone