LIV Golf is winding down its operations; Nexstar will look at marquee sports rights; and Stefano Domenicali expects Apple to bid on Formula One contracts outside of the U.S. Plus news on TKO Group Holdings, BravesVision, the Coachella Valley Lakers and Neil Everett.
LIV Golf to wind down operations
LIV Golf is winding down its operations after BC Partners, an alternate investment manager headquartered in London, pulled out of a financing agreement with the league. The decision could be reversed if another third party comes into play, which is not seen as likely. The upstart golf entity, which began competition in 2022, is heading towards liquidation rather than restructuring after LIV Golf and BC Partners were reportedly unable to earn commitments from enough golfers to remain in the league. The sides were also unable to come to terms on a restructuring support agreement.
Gabby Herzig and Brody Miller of The Athletic reported that BC Partners had signed more than 30 players next year, “but 10 additional golfers were on the fence about committing to the terms of the new league.” A deadline of Sunday, Oct. 25 passed without a deal, and BC Partners ultimately did not return to negotiate after there was some interest on Wednesday night, per a source cited by Herzig and Miller in their report.
LIV Golf filed for Chapter 11 bankruptcy protection in New Jersey approximately two months ago, after which the league had talked about entering a new phase of competition. LIV Golf CEO Scott O’Neil described the process at the time as something that was “designed to build a stronger and more sustainable future for LIV Golf.” The Public Investment Fund (PIF) of Saudi Arabia concluded its funding of LIV Golf at the end of the 2026 season, although it received $49.6 million in debtor-in-possession financing from the fund.
LIV Golf had set a 10-event schedule for the 2027 season that included events taking place across the globe. The league was also planning to broaden its field to include 75 players with a cut line. LIV Golf adjusted its operations throughout the 2026 season, which included the cancelation of its season-ending Team Championship in Michigan. The league just completed the second season of a multiyear media rights deal with Fox Sports.
Nexstar to look at marquee sports rights
Nexstar Media Group COO Michael Biard said during an earnings call Thursday that the company, which owns the CW broadcast network, plans to kick the tires on any “marquee” rights coming to market in the next few years. Biard: “We’ll certainly be in dialogue with everyone who’s got something to sell, and we’ll look at everything.”
Baird described CW as “a nascent business with tremendous upside” that has not yet reached its potential. “[W]hen you look at what we’ve done [in] a relatively short period of time, particularly around sports by acquiring rights, getting them produced, on air, attracting a completely new audience now on a regular basis, what that has done is really established our sports bona fides with really everybody who has rights to sell.”
Nexstar Media Group CFO Lee Ann Gliha said that sports programming encompasses 50% of the hours on CW. “I think sports programming has had a positive impact on overall viewership of broadcast television, and so that obviously has a positive impact,” Gliha said. “That’s obviously a key driver. Advertisers like to be in and around where there’s a lot of viewership, and sports does drive that.”
Jeff Perman, the SVP of sports for CW, told Michael McCarthy of Front Office Sports that the network would look at NHL rights currently held by TNT Sports set to expire after next season. Perman also confirmed that the company is interested in sublicensing College Football Playoff games from ESPN as the company reportedly takes on more inventory with its projected expansion to 24 teams. Ross Dellenger of On3 reported that ESPN can sublicense half of the 12 additional CFP games it would acquire by either expanding its current deal with TNT Sports or reaching a deal with a singular additional partner. CW is already adding two new college football bowl games this season.
Domenicali expects Apple to bid on F1 contracts outside of U.S.
Apple is interested in bidding on Formula One media rights outside of the United States, Formula One president/CEO Stefano Domenicali said on an earnings call. The streamer is in its first year carrying F1 races in the United States, but did not obtain global rights as part of that agreement. Domenicali described both sides as pleased with the deal.
“[T]hey see and we can see this effect could be bigger in the future,” Domenicali said. “Even if, as we always said, our strategy is not to have one main media partner all around the world. It’s to make sure that we maximize the opportunity that we can have market by market. But once again, yes, they’re going to [explore global rights] as soon as this opportunity will be open for them.”
Liberty Media president/CEO Derek Chang reiterated Domenicali’s points, saying that simply having Apple as a potential bidder “is helpful” regardless of whether or not the sides end up reaching an agreement. “Just tightening the markets is helpful from a demand standpoint,” Chang concluded.
Prior to Apple, ESPN had been the television home for Formula One races in the U.S. for a seven-year stretch beginning in 2018. Earlier this spring, Sky agreed to extensions with Formula One that grants it rights in the United Kingdom and Ireland through 2034 and in Italy through 2032. The league also reached an extension with DAZN this September for rights in Andorra, Portugal and Spain through 2030.
Plus: TKO Group Holdings, BravesVision, Coachella Valley Lakers, Neil Everett
- TKO Group Holdings president/COO Mark Shapiro said on an earnings call Wednesday that the company is in conversations with Skydance Corporation “about the best way to maximize audience across” its platforms. Shapiro mentioned HBO and TNT, two entities formerly owned by Warner Bros. Discovery, as being part of a strategy to grow its audience and bolster engagement in addition to Paramount+ and CBS. “We are fully aligned strategically with Skydance, and frankly, they’ve made a huge investment in the UFC, and we want to see that we help them maximize their returns.”
- Atlanta Braves president/CEO Derek Schiller said on an earnings call Wednesday that the organization expects its BravesVision network to generate more local media rights revenue than its previous model, which utilized a FanDuel-branded RSN owned by Main Street Sports Group. “[O]perating our own network gives us control of the broadcast, a more Braves-centric experience for fans, and the flexibility to adapt our business as the media landscape evolves,” Schiller said. “We believe owning our local media relationship directly is the right long-term model for this franchise.” Schiller’s comments come as MLB seeks to centralize its national media rights revenue and create a unified solution for local broadcasts.
- William Iger, the son of Los Angeles Lakers co-owner and former Disney CEO Bob Iger, has been named the play-by-play voice of the NBA G-League Coachella Valley Lakers. Iger formerly called G League games for the Austin Spurs last season, and he has also broadcast Indoor Football League and collegiate athletic games. Iger will work alongside A.C. Green, who had been providing analysis on G League Lakers games through last season, with contests airing on Spectrum SportsNet.
- Former ESPN “SportsCenter” anchor Neil Everett will be a host/reporter for a special Colorado-San Diego State men’s basketball game on USA Saturday honoring the late Bill Walton. “Bill Walton was a boyhood idol while a Trailblazer and ended up being a friend thanks to the stars aligning,” Everett said in a statement. “It’s a privilege to be associated with a game that honors him. I’m greatly appreciative of the USA Sports team including me in the presentation. Rust never sleeps.”
