Quick Compass: Your One-Sentence North Star

• In one sentence, what single commercial outcome would make this rights cycle feel like an unqualified success?
• What's the timeframe you’re targeting for hitting that outcome? Options: Immediate (0-6 months), Near-term (6-12 months), Medium (12-24 months), Long-term (24+ months)
• Who inside your organization will be held accountable for declaring this outcome a success? Name role(s) and what success looks like to them.
• Right now, how confident are you that your internal teams agree on that single priority? Options: Fully aligned, Mostly aligned with minor differences, Significant disagreement, No alignment yet
• Do you have any public or board-level targets (e.g., revenue, reach, sponsorship retention) that we must consider? Options: Yes — revenue targets, Yes — reach/engagement targets, Yes — sponsorship metrics, No public targets, Other

Are You Settling For Safe Over Strategic?

• What are you quietly tolerating in current or legacy deals that, if fixed, would materially change your commercial trajectory?
• How long has that tolerated issue been affecting your rights value or distribution strategy? Options: Less than 1 year, 1–2 years, 3–5 years, More than 5 years
• Give a concrete example where a previous deal structure reduced either revenue or reach—what happened and what was the impact?
• If we left everything as-is for the next cycle, what are the top 2 negative outcomes you expect?
• On a scale, how willing are you to accept short-term disruption for higher long-term upside? Options: Very willing, Somewhat willing, Cautious, Not willing

Who Must Watch the Scoreboard?

• If we got the highest headline fee but your major sponsors or fan base pushed back, would leadership still call that a win? Options: Yes — revenue first, No — reach and partner health matter, Depends on magnitude, Unsure
• Rank these outcomes in order of importance for this cycle. Options: Maximize total revenue, Maximize audience reach, Protect/expand sponsorship value, Grow streaming/new audience, Preserve free-to-air access
• Which internal stakeholders must sign off on tradeoffs between price and reach? (Select all that apply.) Options: Commissioner/CEO, CFO, Head of Commercial/Sponsorship, Head of Fan Engagement/Marketing, Legal/General Counsel, Board/Owners
• What specific commercial thresholds (e.g., minimum revenue, minimum reach %, sponsor retention rate) would constitute a deal you can accept?
• If one outcome must be sacrificed to preserve another, which combination would be acceptable (e.g., 10% less revenue for 20% more reach)? Give preferred tradeoffs or a veto.

If We Gave Exclusivity a Dollar Value, What Would It Be?

• What would you rather have: an exclusive partner that pays a premium but narrows distribution, or multiple partners that maximize reach but dilute per-platform fees? Options: Exclusive partner (premium), Multiple partners (reach), Hybrid (time/territory splits), Undecided
• For which rights or windows would exclusivity be acceptable, and where must access remain open? Options: Live domestic rights, Highlights & VOD, International streaming, Free-to-air windows, Sponsorship ad inventory
• How long a period of exclusivity would you consider reasonable before it harms sponsorship or fan objectives? Options: Single season, 2–3 seasons, 3–5 seasons, Permanent/long-term
• Are there distribution partners that are automatically preferred or automatically excluded? Please name them and why.
• If a buyer sought partial exclusivity (e.g., pay-TV exclusive live rights, free-to-air highlights), which partial carve-outs would you reject outright?

What Revenue Signals Must Move to Prove This Worked?

• Which commercial KPIs will you point to first when judging success—what moves the needle for leadership? Options: Total rights revenue, ARPU per broadcast, Sponsorship renewals/value, Ancillary revenue (licensing/merch), Digital ad/streaming revenue
• What are your current baseline numbers for those KPIs (last 12 months)? Please list values and sources.
• How directly should buyer guarantees tie to measurable audience outcomes (e.g., a rebate if viewership targets missed)? Options: Strongly tied, Partially tied, Minimally tied, Not tied
• Which sponsorship metrics are most sensitive to distribution changes—attendance, TV ratings, CPM, activation reach, or something else? Options: Attendance, Linear TV ratings, Digital/streaming views, Sponsor impression counts/CPM, Engagement metrics
• If sponsors were to ask for minimum delivery guarantees, what would you consider reasonable vs unacceptable?

How Will You Know The Fans Didn’t Lose?

• If the deal improves cash now but fans felt disenfranchised, how would that show up and how worried would you be? Options: Very worried — unacceptable, Concerned but manageable, Minor worry, Not a concern
• Which fan-facing metrics are non-negotiable to protect or grow (e.g., average viewership, social engagement, new fans under 35)? Options: Average viewership, Social engagement, New fans (age 18–34), Attendance/turnstile, Retention of existing viewers
• How should we measure audience health across linear and streaming to ensure apples-to-apples comparisons? Options: Unique reach, Average minute audience (AMA), Total minutes viewed, Engaged viewers (30s+ watch), Custom blended metric
• What decline in viewership or engagement would trigger a formal escalation or remediation in your view? Options: >5%, >10%, >20%, Any decline triggers escalation, Unsure
• Do you have the analytics infrastructure or partners we should rely on for reporting, or would you want us to recommend vendors? Options: In-house analytics, Third-party measurement partners, Would like advisor recommendations, No reliable analytics today

Red Lines, Dealbreakers, and The Little Things That Break Trust

• What clauses or outcomes would immediately make you pull the deal or stop negotiations?
• Are there rights you cannot license under any circumstance (e.g., youth development rights, specific territorial restrictions)? Options: Domestic live matches, Territorial exclusivity limits, Historic archive rights, Youth/academy content, Other
• How do you view performance-based guarantees versus fixed minimum guarantees—what balance feels fair to you? Options: Prefer fixed minimums, Prefer performance-based, Mix of both, No preference
• Which legal or governance constraints from owners, league rules, or broadcast partners will we need to navigate?
• If a buyer demands a non-compete or sweeping exclusivity that impacts sponsorship partners, who should we engage internally to resolve that tradeoff? Options: CFO, Head of Commercial/Sponsorship, Owners/Board, Legal, Commissioner/CEO

Commitment Rhythm: How Should We Report Back?

• What reporting cadence would make you feel confident without draining internal resources—weekly, biweekly, monthly, or milestone-driven? Options: Weekly, Biweekly, Monthly, Milestone-driven
• Who are the decision gates and final approvers for moving from strategy to market outreach?
• What deliverables do you need from us to approve a go-to-market: valuation memo, distribution map, sample term sheet, sponsor impact analysis, or other? Options: Valuation memo, Distribution strategy, Sample term sheet, Sponsor impact analysis, Audience measurement plan, Other
• How will you judge whether our recommended market approach is ready—what acceptance criteria should we meet?
• Realistically, when should we schedule the next decision checkpoint to lock objectives and begin buyer outreach? Options: Within 2 weeks, 2–4 weeks, 1–2 months, Longer than 2 months

• Solution Experience Kickoff — Current State, Consequence & Modeling Scope
• Valuation Scenarios Presentation — Data-Driven Proof
• Distribution Strategy Workshop — Tradeoffs & Sponsorship Impact
• Market Response Simulation & Negotiation Readiness
• Synthesis, Decision & Move-to-Market Sign-Off

• Finalize ranked buyer list and sequencing for outreach; assign outreach leads.
• Validate or update modeling assumptions based on stakeholder feedback to avoid misalignment.
• Select 1-2 preferred scenarios to move into distribution strategy and market testing.
• Modeling team to update scenarios per validation feedback and circulate revised outputs within 3 business days.
• Client to provide any missing data points called out during sensitivity analysis.
• Agree which scenario(s) will be taken to buyer simulation and distribution workshop.
• Re-state Chosen Scenario(s) & Objectives
• Select a recommended distribution approach that balances revenue and reach and maps to the defined success signals.
• Agree tolerances for exclusivity and key contractual levers to be used in negotiations.
• Confirm how sponsorship valuations change by distribution and any required sponsor communications.
• Produce a one-page distribution recommendation (including exclusivity tolerances) for distribution of to-be-shared with potential buyers.
• Marketing/sponsorship lead to validate sponsor impact assumptions and provide any sponsor commitments or constraints.
• Legal to draft term examples reflecting agreed exclusivity levers for buyer testing.
• Buyer Landscape Recap
• Align on realistic market expectations and the preferred negotiation process to achieve the chosen outcome.
• Agree a ranked target buyer list and expected offer profiles to guide outreach timing and materials.
• Establish negotiation playbook owners and contingency plans for adverse market responses.
• Introductions & Meeting Objectives
• Prepare buyer-facing one-pager and financial summary tailored to the chosen scenario(s).
• Develop an initial negotiation playbook with fallback positions and escalation triggers.
• One-Page Synthesis Presentation
• Secure formal sign-off on the recommended scenario and distribution approach to proceed to Solution Scope.
• Agree clear acceptance criteria and governance for the mandate and outreach phase.
• Establish concrete timeline and owners for the next 30-90 days.
• Draft and circulate engagement memo and proposed economics for client approval.
• Set exclusivity window and sign-off any interim exclusivity commitments if required.
• Schedule buyer outreach kickoff and confirm materials owner and launch date.
• Establish and sign off the one-sentence current state that will drive the experience.
• Quantify the consequence in financial and operational terms that creates urgency.
• Define the single-sentence future state and 3 measurable success signals to prove impact.
• Agree exact scenarios and modeling deliverables to be produced for the Solution Experience.
• Modeling team to confirm receipt of cleaned data and list of missing items required for scenarios.
• Client to sign off the one-sentence current/future state and success signals in writing.
• Define owners and deadlines for each scenario to be produced.
• Recap Preconditions & Assumptions
• Deliver concrete, data-backed valuation outputs for each scenario that can be used in buyer conversations.
• Crystal Clear Current State (one sentence)
• Distribution Options Overview
• Scenario 1 — Baseline Valuation
• Financial & Reach Outcomes Summary
• Comparable Transaction Signaling
• Buyer Offer Simulations
• Scenario 2 — Upside (optics & premium outcomes)
• Audience Reach vs Revenue Modeling
• Quantified Consequence
• Acceptance Criteria & Success Signals
• Timeline, Milestones & Governance
• Exclusivity Tradeoffs & Contract Levers
• Negotiation Playbook & Levers
• Scenario 3 — Distribution-Split / Hybrid
• Define Future State (one sentence) & Success Signals
• Confirm Modeling Scope & Scenarios
• Sensitivity & Risk Analysis
• Risk Scenarios & Mitigations
• Decision Matrix & Recommended Approach
• Final Validation & Formal Sign-Off
• Validation & Outreach Decision
• Validation & Commitment
• Validation Check & Next Steps
• Validation Stops After Each Scenario

• Deliver Multi-Scenario Rights Revenue Financial Model
• Produce Buyer Offering Memorandum for Rights Sale
• Draft Rights Package Term Sheets
• Run Confidential Bid/Auction and Collect Offers
• Negotiate Letters of Intent and Definitive Agreements
• Draft Master Broadcast and Streaming Agreements
• Deliver Revenue Waterfall and Payment Schedule
• Deliver Distribution Windowing and Exclusivity Schedule
• Prepare Sponsorship and Ad-Revenue Carveout Clauses
• Deliver Technical Delivery Specifications and Broadcast SLAs
• Deploy Rights Accounting and Reporting Templates
• Negotiate International Sublicensing and Territory Agreements

Deliver Multi-Scenario Rights Revenue Financial Model

• What level of model detail do you require? Options: High-level topline scenarios, Detailed cashflow waterfall with timing, Full P&L with multi-year forecasting and sensitivities, Other (please specify)
• What planning horizon should the model cover? Options: 1-3 years, 4-7 years, 8-12 years, Custom
• Which inputs are available for modeling (select all that apply)? Options: Audience metrics (viewers, impressions), Historical revenue by window/platform, Sponsorship & ad revenue data, Existing contracts and payment schedules, Comparable transaction data, None available
• At what granularity do you want revenue disaggregated? Options: By platform (linear/streaming/digital), By territory, By distribution window (live/rights windows/highlights), By revenue type (rights fee, ad, sponsorship), Consolidated only
• Will the model need to integrate or export to your internal systems (e.g., ERP, BI)? If yes, specify format/API requirements.
• How will the model be used operationally (select all that apply)? Options: Internal valuation & decision-making, Buyer outreach / offering materials, Negotiation scenario planning, Investor/stakeholder reporting, Board approvals

Produce Buyer Offering Memorandum for Rights Sale

• Who is the primary audience for the memorandum? Options: Broad market of buyers, Targeted list of strategic partners, Private equity / financial buyers, Internal stakeholders only
• What level of financial detail should be included? Options: Topline valuation scenarios only, Embedded model excerpts and sensitivities, Full financial appendix with assumptions
• Do you require confidentiality/proprietary sections or redacted versions for broader distribution? Options: Yes - full NDA required for distribution, Yes - redacted public version and full under NDA, No - single public memorandum
• Preferred delivery format for the memorandum? Options: PDF (print-ready), Interactive digital deck, Data room package with attachments, Other (specify)
• Should the memorandum include a draft commercial timetable and go-to-market approach for buyers? Options: Yes, No
• List any specific buyer groups or categories you want explicitly called out in the memorandum (e.g., regional broadcasters, global streamers).

Draft Rights Package Term Sheets

• Which core rights should be considered for term sheets? Options: Live linear broadcast, Live streaming (domestic), Streaming (international), Highlights and clips, SVOD/AVOD/FAST windows, Other
• What exclusivity model do you prefer for the primary package? Options: Full exclusivity, Category exclusivity (e.g., digital only), Non-exclusive, Hybrid/time-windowed exclusivity
• Preferred contract duration for initial offers? Options: 1-3 years, 4-7 years, 8-12 years, Custom
• Should term sheets include predefined minimum guarantees, revenue shares, or mechanism-based proposals (e.g., CPI, CPM, subscriber fees)? Options: Minimum guarantees, Revenue share (%), Performance-based earnouts, Mechanism-based (CPM/CPI), Combinations, Undecided — advise us
• Are there non-economic commercial terms that must be included (e.g., rights to sublicence, ad inventory, sponsorship reservations)? Options: Yes - list required, No
• Please list any mandatory approval or editorial rights to be reflected in term sheets (e.g., pre-approval of ads, editorial control).

Run Confidential Bid/Auction and Collect Offers

• What auction format do you want to run? Options: Sealed bid single round, Two-stage (indications then final bids), Open ascending auction, Bilateral negotiations with select bidders
• What is your target timeline from launch to bid receipt? Options: 4-6 weeks, 6-12 weeks, 3+ months, Flexible
• What bidder qualification criteria should be applied (select all that apply)? Options: Financial capability / proof of funds, Operational distribution capability, Prior experience with similar rights, Geographic footprint, Willingness to accept deal structure
• Do you require a data room and/or Q&A platform? If yes, specify required access controls and timeline. Options: Yes - data room + controlled Q&A, Yes - data room only, No
• Should there be a reserve/minimum acceptable commercial terms or a preferred bidder list? Options: Yes - reserve/minimum, No reserve - evaluate on merits, We want help setting a reserve
• How should bids be evaluated (weighting across price, distribution reach, guarantees, ancillary commitments)? Provide any preferred weighting.
• Any confidentiality or anti-collusion rules you require bidders to acknowledge? Options: Yes - supply text to be included, No

Negotiate Letters of Intent and Definitive Agreements

• What level of negotiation support do you expect from advisors? Options: Strategic counsel only, Lead commercial negotiation with your approval, Full delegation to advisors for agreed thresholds
• Will in-house or external legal counsel be actively involved during negotiations? Options: In-house legal will lead, External counsel will lead, Advisors coordinate with counsel, No legal counsel engaged yet
• Do you have pre-approved negotiation boundaries (e.g., minimum price, unacceptable clauses)? Please summarize.
• What timeline do you expect from LOI to signed definitive agreement? Options: 2-4 weeks, 1-3 months, 3+ months, Depends on complexity
• Which commercial issues are highest priority to lock in at LOI stage? Options: Price/Gurantees, Exclusivity/windows, Term/duration, Sublicensing rights, Sponsorship carveouts
• Do you require template LOI and term sheet language drafted by the advisor? Options: Yes - draft required, No - we will provide templates, We prefer advisor-reviewed templates

Draft Master Broadcast and Streaming Agreements

• Which agreement types are required? Options: Master broadcast agreement, Streaming rights agreement, Sublicensing framework, Technology/service level appendices
• Which legal/commercial clauses require special attention? Options: IP & rights grant scope, Exclusivity and carveouts, Termination and material breach, Audit & reporting, Indemnities & liability caps
• Do you need standardized annexes (delivery specs, payment schedule, reporting templates)? Options: Yes - all annexes, Some annexes (specify), No
• Are there jurisdictional or regulatory constraints we must incorporate (e.g., local content rules, blackout regulations)? Options: Yes - specify jurisdictions, No
• Do you want defined approval processes and signatory authorities embedded in the agreements? Options: Yes - include approval workflows, No - handled separately
• Please list any preferred commercial protections (e.g., step-in rights, performance milestones, credit support).

Deliver Revenue Waterfall and Payment Schedule

• What waterfall structure do you require? Options: Gross receipts then downstream splits, Net receipts after distribution fees, Priority returns then split, Custom (describe)
• Preferred payment cadence and mechanics? Options: Monthly, Quarterly, Semi-annual, Annual, Milestone-based
• Do you require escrow, performance bonds, or credit support mechanisms? Options: Yes - escrow required, Yes - performance bond required, No
• How should taxes, withholding, and currency conversion be handled in the schedule? Options: Deducted before distribution, Handled by payer with gross-up, Specify per territory, Undecided - advise us
• Do you require audit rights and reconciliation processes defined in the waterfall? Options: Yes - full audit rights, Limited audit rights, No
• Please describe any conditional payments (e.g., audience thresholds, milestones) that must be reflected.

Deliver Distribution Windowing and Exclusivity Schedule

• Which distribution windows do you want to define? Options: Live/primary window, Delayed/linear replay, On-demand (short form/highlights), SVOD/AVOD windows, Territory-specific windows
• What exclusivity approach is preferred by window? Options: Exclusive by window, Non-exclusive by window, Hybrid/time-limited exclusivity, Flexible - depends on buyer
• Are blackout, territorial or platform carveouts required (e.g., stadium-only rights, local broadcasters)? Options: Yes - specify carveouts, No
• Do you need a master schedule template mapping windows across territories and platforms? Options: Yes - deliver template, No - will use our own
• Will you permit sublicensing within certain windows or territories? Options: Yes - with prior approval, Yes - unrestricted, No
• Please describe any promotional or highlight rights that must be preserved across windows.

Prepare Sponsorship and Ad-Revenue Carveout Clauses

• Do existing sponsorship contracts impose mandatory carveouts or inventory reservations? Options: Yes - list sponsors and obligations, No, Unknown - need audit
• Which ad-revenue sharing models are acceptable? Options: Fixed % share to rights holder, Gross/minimum guarantees + % upside, Dedicated inventory carveouts for sponsors, Ad-sales retained by buyer with revenue share
• Should we define measurement and attribution standards for sponsor impressions and inventory? Options: Yes - specify metrics (e.g., CPM, impressions), No - leave to buyer standards
• Do you require exclusivity categories for sponsors (e.g., presenting sponsor vs. official partners)? Options: Yes - define category tiers, No
• Are there pre-existing sponsor rights that must survive transfer or be renegotiated? Options: Yes - provide contract list, No
• Please describe desired contractual protections for sponsor inventory and anti-competitive clauses.

Deliver Technical Delivery Specifications and Broadcast SLAs

• What delivery formats and codecs must be supported (select all that apply)? Options: SD/HD/4K, HLS/DASH/CMAF, Specific codecs (H.264/H.265), SRT/RTMP for contribution, Other (specify)
• What minimum SLAs are required for availability, latency, and error rates? Options: 99.9% uptime, 99.5% uptime, Custom SLA - define metrics, No formal SLA required
• Do you require CDN, origin redundancy, and failover procedures specified? Options: Yes - include redundancy and testing, No - buyer provides infrastructure
• Should testing, acceptance criteria, and pre-launch sign-off be defined in the agreement? Options: Yes - detailed testing plan, Yes - high-level acceptance, No
• Are rights to monitor streams and access logs required for auditing/performance measurement? Options: Yes - full access, Limited access, No

• Non-Disclosure Agreement (NDA)
• Engagement Agreement (Advisory Mandate)
• Statement of Work (SOW)
• Fee Schedule & Payment Terms
• Retainer / Escrow Authorization
• Exclusivity & Mandate Period
• Milestones & Acceptance Criteria
• Governance & Reporting Cadence
• Data Use, Security & DPA
• Intellectual Property & Model Ownership
• Expense Reimbursement & Third-Party Costs
• Change Order / Scope Amendment
• Termination & Exit Terms
• Publicity, Announcements & Reference Rights
• Compliance, KYC & Conflict of Interest Disclosure
• Sign-off & Mandate Activation Checklist

• Close Review & Acceptance
• Outcomes Validation Workshop
• Sponsor & Partner Impact Review
• Lessons Learned & Playbook Update
• Post-Close Governance & Issue Resolution Setup

• Draft the 'lessons learned' document and proposed playbook edits for review.
• Request additional data or third-party audits where measurement gaps exist.
• Schedule a follow-up validation checkpoint (30/60/90 days) to track remediation effectiveness.
• Sponsor Commitments Recap
• Confirm sponsor delivery shortfalls and quantify commercial exposure.
• Decide on make-goods or remediation acceptable to sponsor and rights holder.
• Agree on a sponsor communications plan with owners and timelines.
• Prepare a sponsor impact memo including proposed make-goods and commercial offsets.
• Coordinate legal review of remediation options and finalize any contract amendments.
• Schedule sponsor outreach meetings with agreed messaging and account owners.
• Deal Timeline & Key Decisions Recap
• Produce a clear set of lesson entries with owners and deadlines for playbook updates.
• Update modeling and negotiation templates where systematic errors were identified.
• Schedule internal knowledge transfer sessions to socialize changes across advisory, modeling, and legal teams.
• Welcome & Objectives
• Update valuation templates and scenario modeling inputs based on validated outcomes.
• Plan and execute an internal debrief session with sales, strategy, and legal teams.
• Archive deal artifacts and a sanitized dataset for future benchmarking and training.
• Governance Structure & Stakeholders
• Establish a single shared channel for post-close communications with appropriate access and governance.
• Agree on KPI reporting, cadence, and the first set of dashboards to be delivered.
• Define issue triage SLAs and escalation paths to resolve operational or commercial disputes quickly.
• Set the calendar for quarterly governance reviews and assign owners for each checkpoint.
• Create the shared CustomerNode space (or designated Slack/Teams channel) and provision access.
• Configure KPI dashboard templates and schedule automated report deliveries.
• Publish the post-close RACI, SLA definitions, and escalation matrix to stakeholders.
• Schedule the first quarterly performance governance meeting and invite required participants.
• Confirm all contracts are fully executed and stored in the shared repository.
• Verify receipt or schedule of all agreed payments and financial instruments.
• Ensure operational teams have required assets, access, and a short-term delivery plan.
• Identify and assign owners for any outstanding close items or risks.
• Circulate executed contract bundle and indexed extracts to stakeholders.
• Reconcile and confirm payment status with finance and buyer; resolve discrepancies.
• Distribute rights/asset transfer checklist to operations and confirm access credentials.
• Document outstanding close items with owners and target resolution dates.
• Pre-work & Data Confirmation
• Decide which success signals passed, failed, or require condition-based remediation.
• Quantify variances and agree on the root causes of performance gaps.
• Establish a prioritized, time-bound remediation plan with owners and measurement criteria.
• Agree timing and deliverables for a formal validation report to stakeholders.
• Produce a formal Outcomes Validation Report summarizing KPIs, variances, root causes, and recommended actions.
• Assign owners for each remediation action and set checkpoint dates for progress reviews.
• Activation Delivery vs Obligation
• What Worked Well
• Executed Contract Package Review
• Reporting KPIs & Cadence
• Recap Success Signals & Acceptance Criteria
• Shared Channel & Access
• Financial Reconciliation
• What Caused Friction or Missed Expectations
• Sponsorship Revenue Impact
• Financial Outcomes vs Forecast
• Rights & Asset Transfer Checklist
• Audience & Distribution KPIs
• Make-goods & Commercial Remedies
• Issue Triage & SLA Definitions
• Root Causes & Preventative Changes
• Immediate Operational Handover
• Sponsor Communication Plan
• Sponsorship & Commercial Impact