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WNBA Seattle Storm’s CFO says ticket sales more than doubled despite inflation

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WNBA Seattle Storm’s CFO says ticket sales more than doubled despite inflation


A couple of hours earlier than the Seattle Storm and the Las Vegas Aces took to the court docket for Recreation 2 of the WNBA semifinals yesterday, I had a dialog with Tricia McLean, CFO of Seattle Storm and Power 10 Hoops LLC, the staff’s possession group.

“There are quite a lot of hats you put on as CFO,” McLean advised me throughout a video name. Like amenities administration, she says. “So proper now, I’m touring with the staff as a result of we’re within the playoffs. I don’t normally. However there’s quite a lot of reconciliation of the sport day statements. And income additionally is available in, which must be reported to the league.”

Whereas on the street, McLean is dealing with funds and rooting for the staff. She confirmed me the necklace she wears with the Storms’ WBNA championship rings. “I’ve three out of 4,” she explains. “After we received the championship in 2002, I wasn’t but with the staff. I put on these for good luck through the playoffs.”

Tricia McLean, CFO of Seattle Storm and Power 10 Hoops LLC

Courtesy of Seattle Storm

McLean joined the Storm in 2008 as VP of finance and HR. She was promoted to CFO in 2019. Since becoming a member of the staff, she’s seen the enterprise develop. “We’ve grown over 250% this yr in income from our high quantity since I’ve been right here,” she says. “We’ve got 35 full-time, year-round staff. Then we’ve the 12 gamers. After which, we go as much as about 100 folks through the season for all our recreation nights. That features our dance troupe, IT folks, and others.”

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She says that ticket gross sales, company partnerships and merchandise are the three predominant income streams. “We actually turned to on-line gross sales through the pandemic,” she says. “We used to promote about $150,000 price of merchandise a yr, which then was half one million {dollars} price of merchandise. We’ve saved our on-line gross sales as a result of we’ve so many extra followers. We’ll do over one million {dollars} in merchandise income this yr. And that’s because of the recognition of ladies’s sports activities and the WNBA specifically.”

“After which we’ve some TV income from ESPN,” she says. “And that’s by the league. That’s the recreation changer that we’re actually on the lookout for—to be paid for tv broadcasts.”

The Storm didn’t have a everlasting house for 3 seasons whereas the Local weather Pledge Area was beneath building. The staff had its season opener in Could on the area. “This yr, after we re-entered our house in Seattle, we greater than doubled our ticket gross sales,” McLean says.

As a CFO, I requested McLean if inflationary stress was certainly one of her high considerations. “I assume I’d be involved if folks give up spending their {dollars} on leisure,” she says. “However that has not confirmed to be the case for us in any respect. We’ve got nice renewal. The followers are there as a result of they care about our staff and the [win]. When the pandemic occurred, 90% of our season ticket holders left their cash with the Storm; they didn’t ask for a refund.” The Storm and the league “have nice momentum proper now,” she says. “And if we are able to get TV to be the place we’d like it to be, that would be the subsequent stage of development I’m on the lookout for.”

Evidently being a CFO within the WNBA is a tricky job. The league makes quite a lot of tough selections as a result of budgets are tight in comparison with different skilled sports activities. I requested McLean how she’s navigated this dynamic.

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“It may be onerous,” she explains. “The athletes need sure issues, deserve sure issues that we are able to’t at all times afford. However we’re owned by three girls. Two of them had been skilled athletes; one was a silver medalist. In order that they imagine on this mission and need to present for these gamers greater than anybody. We’re lastly making fairly good cash, and so they’re nonetheless persevering with to place it again into the staff.”

She continues, “They’re constructing a state-of-the-art follow facility proper now for our athletes, which I imagine would be the first within the nation constructed by girls and financed by girls for girls.”


See you tomorrow.

Sheryl Estrada
sheryl.estrada@fortune.com

Upcoming occasion: In case you are a CFO within the Chicago space, be part of us at Sepia on September 22 for our CFO Collaborative in-depth dinner dialog. The subject of dialogue: The Finance Expertise Mannequin of the Future. I will probably be joined by Fortune CEO Alan Murray, Fortune Finance Editor Lee Clifford, and Clem Johnson, President, Crist|Kolder Associates. Click on right here for extra info and to use. Please be aware that attendance is complimentary and topic to approval.

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Massive deal

KPMG LLP’s annual report, “Tax Reimagined 2022: Views from the C-suite,” finds that tax professionals are in a time of transformation attributable to tech developments and the complexity of the U.S. and international tax regulatory panorama. Though there’s some progress from final yr, 52% of C-suite executives aren’t leveraging tax information for situation planning round tax coverage adjustments. In 2022, 68% of executives aren’t leveraging tax information to align with ESG priorities; that is a rise from 55% in 2021. Accounting stays a central competency for tax professionals. Nonetheless, in 2022, C-suite executives ranked coding as essentially the most wanted ability, in response to the report. The survey additionally discovered that 83% of respondents agreed that their group sees extra girls candidates and hires as tax professionals than in earlier years. And 72% agreed their group sees extra candidates and hires from underrepresented teams than in earlier years. The findings are based mostly on a survey of 300 C-suite executives at organizations with $1 billion or extra in income. 

Courtesy of KPMG

Going deeper

“Freelance, facet hustles, and gigs: Many extra Individuals have turn into impartial staff,” a McKinsey & Firm report, factors to “a seismic shift” in how Individuals work and help themselves. McKinsey’s American Alternative Survey discovered that 36% of employed respondents—equal to 58 million Individuals—establish as impartial staff. This proportion is up from McKinsey’s estimate of 27% in 2016.

Leaderboard

Dominik Asam was named CFO at SAP SE (NYSE: SAP), efficient March 7, 2023. As beforehand introduced, after 26 years with the corporate, Luka Mucic, at the moment CFO, is stepping down. He’ll stay an SAP SE Government Board member till March 31, 2023. Asam involves SAP from Airbus. He additionally beforehand labored at Infineon Applied sciences AG. Along with his new CFO position at SAP, Asam will turn into a member of the Government Board.

Amanda Blum was named CFO at Lynx Software program Applied sciences, a developer of open structure software program options. Blum was beforehand with Inexperienced Hills Software program, a supplier of embedded security and safety options, the place she served as the company controller. Previous to becoming a member of Inexperienced Hills, Blum held a number of senior monetary and accounting positions at Sientra, Inc., a publicly traded medical system firm. She is a licensed public accountant.

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Overheard

“The present superbubble options an unprecedentedly harmful mixture of cross-asset overvaluation (with bonds, housing, and shares all critically overpriced and now quickly shedding momentum), commodity shock, and Fed hawkishness. Every cycle is totally different and distinctive—however each historic parallel means that the worst is but to come back.”

—Wall Avenue veteran Jeremy Grantham, the cofounder of Boston asset supervisor GMO, argued in a Wednesday analysis be aware that regardless of the inventory market’s struggles this yr, the economic system’s actual downturn hasn’t but come. Grantham is well-known for having predicted Japan’s asset value bubble within the Nineteen Eighties and the dot-com bubble of the late ’90s, Fortune reported.

That is the online model of CFO Day by day, a e-newsletter on the developments and people shaping company finance. Signal as much as get it delivered free to your inbox.



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Seattle, WA

Seattle Weather: Dry with sunshine Monday, late rain and wind return

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Seattle Weather: Dry with sunshine Monday, late rain and wind return


Showers this evening will slowly decrease overnight, with mild temperatures overnight. We will see dry skies to start the week, but we will be seeing a lot more rain by the middle of the week. 

Showers this evening will slowly decrease overnight, with mild temperatures. 

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It was a mild evening, with highs today in the low 50s through this evening. 

Today's Highs

It was a mild evening, with highs today in the low 50s through this evening. 

Showers will slowly taper overnight, with lows by Monday morning staying very mild. 

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Lows Tonight

Showers will slowly taper overnight, with lows by Monday morning staying very mild.  (FOX 13 Seattle)

Skies will be dry for most of Monday with sunshine in the forecast, clouds return by the evening hours. 

Dry Skies Monday

Skies will be dry for most of Monday with sunshine in the forecast, clouds return by the evening hours. 

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Temperatures will again be well above average, peaking in the low 50s. Rain returns by 11pm for Western Washington along with more wind. 

Tomorrow's Highs

Temperatures will again be well above average, peaking in the low 50s. Rain returns by 11pm for Western Washington along with more wind. 

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We will also see increasing wind speeds later Monday with the strongest gusts coming from the east through the Cascade gaps and through the Strait of Juan de Fuca. 

Windy Monday PM

We will also see increasing wind speeds later Monday with the strongest gusts coming from the east through the Cascade gaps and through the Strait of Juan de Fuca. 

Another around of atmospheric moisture will move into Western Washington Wednesday and Thursday for more rain, wind, and mountain snow. We will see more rain and breezy conditions and pass level snow through next weekend. 

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Seattle Forecast

Another around of atmospheric moisture will move into Western Washington Wednesday and Thursday for more rain, wind, and mountain snow. 

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Download the free FOX Seattle FOX LOCAL app for mobile in the Apple App Store or Google Play Store for live Seattle news, top stories, weather updates and more local and national coverage, plus 24/7 streaming coverage from across the nation.

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Seattle, WA

Sam Darnold and Justin Jefferson lead surging Vikings past Seahawks 27-24

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Sam Darnold and Justin Jefferson lead surging Vikings past Seahawks 27-24


SEATTLE (AP) — Sam Darnold connected with a well-covered Justin Jefferson with 3:51 left for his third TD pass of the game, and the Minnesota Vikings outlasted Geno Smith and the Seattle Seahawks 27-24 on Sunday to keep pace with Detroit for the top spot in the NFC.

After the Seahawks took the lead on Smith’s third TD pass, Darnold led a 30-second drive that was aided by a 15-yard facemask penalty. He stepped up in a collapsing pocket and launched a deep ball that Jefferson hauled in just short of the goal line with two defenders closing in.

Jefferson finished with 10 catches for 148 yards and two touchdowns as the Vikings (13-2) won their eighth straight. If they can beat Green Bay and Detroit to close out the season, they will earn the top seed in the conference and a first-round playoff bye.

Darnold threw for multiple touchdowns for the 11th time this season and more than 200 yards for the 10th. He finished 22 of 35 for 246 yards, helping Kevin O’Connell become the first Vikings coach with multiple 13-win seasons.

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Not bad for a veteran who was signed to a one-year deal as a placeholder after the Vikings drafted J.J. McCarthy, who suffered a season-ending knee injury in the preseason.

Smith threw for 314 yards and his 4-yard TD pass to AJ Barner gave the Seahawks a 24-20 lead with 4:41 left, but he couldn’t rally Seattle (8-7) after Jefferson’s TD catch. Jason Myers missed a 60-yard field goal try after the two-minute warning, and Theo Jackson picked off Smith with 49 seconds left to seal it.

The Seahawks have lost two straight after a four-game winning streak and fell one game behind the Los Angeles Rams in the NFC West.

Smith also had scoring passes of 25 yards to DK Metcalf and 18 yards to Jaxon Smith-Njigba. He was also intercepted twice. Smith-Njigba had eight receptions for 95 yards.

Minnesota improved to 8-1 in one-score games this season.

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The Vikings ran a 12-play opening drive, consuming 6:54 on the way to a 7-0 lead on Darnold’s 5-yard pass to Jordan Addison, who was open in the middle of the end zone for his third catch of the series.

Smith found Metcalf in man-to-man coverage with Stefon Gilmore early in the second quarter in the right corner of the end zone. It was Metcalf’s first TD reception since Week 7.

Darnold responded two drives later to make it 14-7 on a 14-yard pass to Jefferson over Tre Brown, who was left in single coverage on the All-Pro’s corner route.

Joshua Metellus pressured Smith on the first play of Seattle’s ensuing drive and Dallas Turner stepped in front of a pass to Noah Fant for an interception that set up Minnesota at the Seattle 31. The Vikings settled for Will Reichard’s 52-yard field goal after Boye Mafe sacked Darnold.

Smith drove the Seahawks 88 yards in 1:05 on five plays to cut the lead to 17-14 with 20 seconds left in the half. He found Smith-Njigba three times on the drive. The first, a 13-yard reception, put the second-year player over 1,000 yards receiving for the first time. The second, for 25 yards to the Vikings 18, drew a biceps flex from Smith-Njigba for the cheering crowd. And the third went for the score.

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Receiving milestones

Metcalf shook off a long scoreless streak to catch his 47th career TD with the Seahawks. That helped him pass Hall of Fame receiver Steve Largent and move into sixth on the team’s career touchdown list.

Smith-Njigba became the 10th Seahawks receiver to record a 1,000-yard season.

Injuries

Vikings: S Harrison Smith (foot) was inactive, missing a game for the first time since 2022.

Seahawks: Placed LB Trevis Gipson (ankle) on injured reserve. … RB Kenneth Walker III left the game with an ankle injury.

Up next

Vikings: Host Green Bay next Sunday.

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Seahawks: At Chicago on Thursday.

___

AP NFL: https://apnews.com/hub/nfl





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Seattle, WA

Here are the Remaining First Base Options For the Seattle Mariners This Offseason

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Here are the Remaining First Base Options For the Seattle Mariners This Offseason


The Seattle Mariners, in need of some help at first base this offseason, are at risk of being left out in the cold.

The M’s have Luke Raley already at first, but he could stand a right-handed hitting platoon partner. In the last few days, several options have come off the board as Christian Walker signed with the Houston Astros, Paul Goldschmidt signed with the New York Yankees, Josh Naylor was traded to the Arizona Diamondbacks and Carlos Santana signed with the Cleveland Guardians.

The Santana news was especially devastating, as it seemed like a reunion with him was essentially a lay-up earlier in the offseason.

Pete Alonso is still on the market, but the Mariners seem unwilling to meet the asking price for him. Thus, the options are dwindling rapidly, with Jeff Passan of ESPN taking stock of where the market is at right now:

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Over the last 24 hours:

Christian Walker to Houston
Paul Goldschmidt to the New York Yankees
Josh Naylor to Arizona
Carlos Santana to Cleveland

1B still available in free agency: Pete Alonso, Anthony Rizzo, Josh Bell, Ty France. In trades: LaMonte Wade Jr. and Nathaniel Lowe.

Rizzo is out because the M’s don’t need a left-hander. Again, Alonso is likely out because of money. France, who was DFA’d by the Mariners in July, could be a possibility on the short side of the platoon with Raley. Justin Turner was omitted from that list, but he also remains a reunion possibility for Seattle.

In 48 games with the Mariners after a trade from the Toronto Blue Jays this past season, he hit .264 with five homers, 24 RBI and a .363 on-base percentage. He helped the M’s get to within one game of the playoffs.

For the season as a whole, he hit .259 with 11 homers.

Turner just finished the 16th year of his career with the Baltimore Orioles, New York Mets, Los Angeles Dodgers, Boston Red Sox, Blue Jays and Mariners. He’s a .285 lifetime hitter who helped the Dodgers win the World Series in 2020. He just turned 40 years old.

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As for France, after being acquired by the Mariners during the COVID 2020 season, he was a firm part of the team’s rebuild, earning an All-Star appearance in 2022 and helping the team break the long playoff drought.

However, France slumped to a poor 2023 and also struggled in 2024 before being designated for assignment. He latched on with the Cincinnati Reds for the final 52 games of the season.

Lifetime, France is a .263 hitter. He hit .250 with the Mariners in 2023 but saw his power dissipate, hitting only 12 homers. He had just eight homers in 88 games for Seattle this year. He did hit five in Cincinnati. He’s still only 30 years old.

Continue to follow our Inside the Mariners coverage on social media by liking us on Facebook and by following Teren Kowatsch and Brady Farkas on “X” @Teren_Kowatsch and @wdevradiobrady. You can subscribe to the “Refuse to Lose” podcast by clicking HERE:





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