Pete Powell

Husband. Dad. Entrepreneur. Lover of all things Philly sports. Tweets are my own.

[Jake Rosenberg @jakerosenberg33]

Two NFL teams. Same cap, same rules, same starting line. Every year they get wildly different results.

That gap isn't luck and it isn't money. It's whether the organization is built to find edge or built to check boxes.

Same math in college right now. $15M spent strategically plays like $25M. $40M spent badly plays like $25M.

[Jake Rosenberg @jakerosenberg33]

This an excellent profile.

Its an example of how the @Eagles often add strength to a strength- both in front office and roster.

How many GMs would add someone like this?

Adam is a terrific person with the work ethic, humility and intelligence to start over and become great.

[Jake Rosenberg @jakerosenberg33]

Salary Cap basics on @SportsRadioWIP

Hopefully this helps some cap newbies understand a little more...feel free to follow up with some questions if you need clarification. Not easy explaining without visuals or a whiteboard! @AfternoonsWIP

https://t.co/jBPs5NJSjG

[DelcoDelphia @DelcoDelphia]

ONE MORE.

[Jake Rosenberg @jakerosenberg33]

Hoping this article helps to lay out what The Athlete Group is doing…and hoping to do more of going forward. We have assembled an experienced team across almost every area a university might need help figuring out the new landscape. https://t.co/tu1deXg3Kj

[Pete Powell @PTPower327]

@Kevin_Kinkead 100% spot on. Give me a guy who is real, relatable and cares any day of the week over an emotionless robot who puts himself on a pedestal. And bottom line, his players don’t seem to mind who he is so why does it matter.

[Kyle Scott Laskowski @KyleScottL]

It looks like @CrossingBroad is getting acquired again.

Today, XLMedia, the company I sold Crossing Broad to in 2020, announced that it has agreed to sell all of its North American assets to publicly-traded @Sportradar for a total consideration of $30 million ($20 million cash + $10 million performance target).

XL acquired all of its North American assets in 2020 and 2021 for a total price of around $75 million, so the agreed upon sale represents a significant discount.

Other sites in the deal include @SaturdayDown @EliteSportsNY and @SBD.

How did we get here?

In short: The legalization of online gambling ratcheted up the value of online sports brands with audiences concentrated in legal betting markets, as @DraftKings @FanDuel and other sportsbooks were willing to pay a heavy price to acquire new users.

Publicly-traded companies, mostly from Europe, where online gambling had been legal for some time, immediately saw the opportunity and ostensibly knew what to do with these brands.

So through a mix of cash and cheap capital during the frothy post-Covid period, they gobbled many of them up.

CB was a beneficiary of this.

Generally speaking, European digital marketing businesses have struggled to realize the valuations of these sites.

All the while, the online gambling land grab has subsided, share prices are down, and these digital marketing companies aren't really set up to operate ad-based content businesses in North American.

There's still plenty of money to be paid referring readers to US sportsbooks and online casinos, but it's a shrinking business.

What does this mean for Crossing Broad?

Hard to say. Based on the general observations I laid out, a new owner - a much larger, more established one at that - may not be a bad thing, as the possibility of a refocus on the brandcould be in the cards.

But make no mistake, this acquisition was about the $27 million in revenue and $5 million in profit XLMedia's sites and partnerships (mostly partnerships, according to public filings...) generate from referring players to sportsbooks.

Who is Sportradar?

A Swiss-based company best known for selling sports and betting data feeds. They are a leader in this field, but to date most of their "content" efforts have been related to providing stats and data to other sites.

Owning local and regional sports websites will be a new thing for them.

So now what?

XL's board has to approve the sale next month, so it's not a done deal. What happens to the brand and team after that is an open question. Presumably, not much on the public-facing side.

From a very sentimental standpoint, I'm very much rooting for that to be the case.

Of course, in the meantime, you can read @OnPattison -- THE locally owned Philly sports site.

[Pete Powell @PTPower327]

@PabloTorre @jakerosenberg33 @pablofindsout Love this kind of content! There are many self proclaimed “experts�� but Jake has lived it in the NFL and is now on the front lines of the seismic shift in college football.

[Eliot Shorr-Parks @EliotShorrParks]

“Many Men” plays during Eagles practice as Nick Sirianni looks on

[Pete Powell @PTPower327]

@tomstakes Well said @tomstakes. Not easy to have this opinion right now but everything you said is true. The most important opinions on Nick come from the voices that matter the most - the owner, the GM, the players, the coaches. And by all accounts, they support him being himself.

[Pete Powell @PTPower327]

@KyleScottL @ArmentaniBros So which one becomes the official anthem of 2024? Can’t be the entire playlist, right?

[Advance Sports @AdvanceSports_]

The Amateur Golf Society (AGS) is on a mission to provide new ways for golfers to come together both socially and competitively, on their schedule.

We're looking for a deeply committed Director of Business Development. Click the link to apply!🏌️‍♂️

https://t.co/Bvoab1NIQa

[Pete Powell @PTPower327]

@KyleScottL This team vibes with this city more than just about any Philly team in my lifetime.

[Adam Schefter @AdamSchefter]

University of Oklahoma Athletic Department will work with former Eagles executive @jakerosenberg33 and his consulting firm @theathletegrp to advise on their impending transition to the ‘salary cap’ era of college athletics, per sources.

Those around the sport consider it to be a progressive move to partner with someone who has been a highly-respected executive in the NFL, and one of Eagles GM Howie Roseman’s closest advisors.

[Pete Powell @PTPower327]

@KyleScottL

[Sports Communication & Media @RowanSportsCAM]

Tonight at 🍕Pizza with the Pros🍕guest @PTPower327, Chief of Staff & VP Investor Relations @nerdstreet. Pete discussed the endless possibilities Nerd Street and esports has to bring to the table… “provides opportunities for kids in other ways than traditional sports”

[Pete Powell @PTPower327]

@coachdaley12 @CHEastAthletics @DTHS_Athletics Credit to all those that did not leave until Dak Prescott, Micah Parsons and all the other Dallas Cowboys were taken care of! 👏 👏

[HER GALAXY @hergalaxygg]

This is the HER Galaxy $10k VALORANT Open

We see you, we hear you, and we’re with you. HER Galaxy is empowered to make a change in esports and level the playing field for women and underrepresented genders.

Your journey starts here! Register here ➡️ https://t.co/93EfxBzErQ

[Nerd Street @nerdstreet]

Twitter 🤝 VALORANT
Lockdown

Starts 12/5: https://t.co/s6Xgt4tFOc

[Pete Powell @PTPower327]

@Emjay_Gaming This is awesome Matt! Congrats buddy!