By Rick Horrow
Podcast edited by Tanner Simkins
The LPGA and Group1001 announce a new official LPGA Tour event coming to Boca Raton, Florida in January, 2020. The first edition of the Gainbridge LPGA at Boca Rio will be held January 20-26 at Boca Rio Golf Club. The event will feature a 108-player field competing for a $2 million purse over 72 holes of stroke play. Boca Rio Golf Club, founded in 1967 and designed by Robert von Hagge, is situated four miles from the Atlantic Ocean on 200 acres of native Florida wilderness with no developed real estate. "We are thrilled to support women's professional golf and to provide a platform for the sport's best to compete and showcase their talents," said Dan Towriss, Group1001 CEO. The new event will be one of two LPGA Tour tournaments held in Florida in January. The year will kick off with the Diamond Resorts Tournament of Champions January 15-19 in Lake Buena Vista, one week prior to the Gainbridge LPGA at Boca Rio.
It's back to school time, and in Washington DC, Monumental and EVERFI support STEM. As students across the nation are returning to the classroom, Monumental Sports & Entertainment Founder and Chairman Ted Leonsis is "spearheading a multipronged effort to improve schools and fuel economic growth in the impoverished neighborhoods" around Entertainment & Sports Arena in DC's Ward 8. According to the Washington Times, the initiative, called "Forward8," includes "pushing for the expansion of advanced science, technology, engineering and mathematics" programs in DC schools. Monumental's Beltway neighbor, education technology leader EVERFI, is likewise proactive in community engagement, empowering more teachers, citizens, and students to get involved with game-based, incentive driven online education that fosters greater comprehension, retention, and behavior change. By bringing together the public and private sectors to change the way education is delivered, EVERFI is equipping today's learners across the nation with the skills they need to become tomorrow's leaders, while Monumental is leading the way toward helping improve education, the workforce of tomorrow, and the community in their own backyard.
Formula One has recorded a modest year-on-year rise in revenues for the second financial quarter of 2019, going from $585 million in 2018 to $620 million in its latest financial filing. Operating income rose from $14 million to $26 million over the same period, according to SportsPro. The global motor sport series' ten teams also saw an increase in their combined payments between April and June from $307 million to $335 million, with the figure directly linked to the overall revenue increase. Formula One's owners Liberty Media in a statement further explained the overall change in revenues: "Broadcast revenue increased primarily due to contractual rate increases. Advertising and sponsorship revenue increased due to revenue from new sponsorship agreements entered into beginning in the second half of 2018. Other Formula One revenue decreased in the second quarter primarily due to the mix of races, which resulted in lower TV production and Paddock Club revenue." Formula One CEO Chase Carey also told investors that Liberty Media is making "good headway" in its moves to add a second race in the U.S. Miami and Las Vegas remain the two potential landing cities.