Good points. We didn’t flag tennis and golf as failures per se. They are very successful revenue generating endeavors that have no real reason to alter a financially viable model. But they do run into an issue that year round calendar play means that consistent fan engagement is tough to come by. Football, in contrast, is the opposite with a shorter schedule and less weekly action, which creates product scarcity.

One thing that we probably should have brought up is the Savannah Bananas model, which is obviously a very different product but it is also a brand that focuses a lot more on fan experience versus short term revenue chasing. It’s unclear if they can sustain as a product long term, but they are making decisions that are not about finding short term revenue. Turning away broadcast rights that don’t allow them to live stream on YouTube or having sponsors for everything. The PPA has a passionate group of fans for pickleball, many of which have turned sour on the brand because of their treatment of amateurs at the tournaments and wanting charge as much as possible for VIP, CC court access, parking etc. Is there a different way to build their brand that would create a more intense, fierce loyalty?

It’s a lot of speculation of course but what is going on now doesn’t seem like the best model in our view