📢 It's NFL DRAFT week! 💥

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Good morning. This is the Opening Drive, the weekly newsletter that brings you the best of the NFL so you’re always the smartest one at the water cooler.

CeeDee Lamp is skipping the offseason program, Belichick's search for a job was worse than we thought, the Texans' new alternate helmet design leaked 🤮, we've got everything you need to get you ready for the 2024 NFL draft, plus we do a deep dive on the economic impact of hosting the draft.

Let’s dive in.

QUICK HITS

• When is 2024 NFL draft? Date, time, channel, how to watch (ESPN)

• Cowboys WR CeeDee Lamb expected to skip voluntary offseason program while he awaits a new contract (ESPN)

• Eagles sign WR DeVonta Smith to three-year, $75 million extension that includes $51 million guaranteed (NFL.com)

• Dak Prescott says he's not 'necessarily' gunning to be highest-paid QB in NFL (Yahoo Sports)

• Inside Bill Belichick’s failed job hunt (ESPN)

• Patriots director of scouting Eliot Wolf said that the team is “open for business” to trade the No. 3 pick (ESPN)

• Howie Roseman: Eagles prioritize getting our needs filled in free agency so we can draft for talent and take the best player available (PFT)

• Cowboys EVP Stephen Jones explains quiet offseason (NFL.com)

• Commanders GM Adam Peters not looking to trade out of second overall pick (NFL.com)

• Giants’ roster ranked among the NFL’s worst (USA Today)

• QB Trevor Lawrence, on a potential new contract: “At the end of the day, my job isn't going to change whether I get extended or not before this season.” (NFL.com)

• Chargers new HC Jim Harbaugh has been camped out in a beachfront RV park this offseason (Barstool)

• Reigning NFC North champions unveil fresh uniforms, including all-black alternates (NFL.com)

• Browns going back to white facemasks full-time for the 2024 season (PFT)

• NFL reinstates five players from gambling suspensions (ESPN)

• NFL prospect AJ Simon dies one week before the draft (Yahoo Sports)

• Longtime NFL executive Bill Tobin dies at 83 (PFT)

WHO’S UP? WHO’S DOWN?

Who’s up?
Private equity. The NFL is poised to open its exclusive ownership club to private equity investors, according to reports. A special committee of NFL team owners has spent months reviewing bylaws that would govern institutional investment in franchises. Sources indicate the league will require private equity firms to establish NFL-specific funds, prohibiting them from investing in other sports leagues. At least two firms have already begun exploring investor interest in dedicated NFL funds. The move would make the NFL the last of the major North American sports leagues to allow private equity investment. MLB broke the barrier in 2019, followed by the NBA, NHL and MLS during the pandemic when teams sought liquidity. With soaring franchise valuations, NFL owners see an opportunity to cash in some of their equity. The recent $6 billion sale of the Washington Commanders highlighted the massive capital required to buy a controlling stake. Minority investments could provide owners an avenue to fund stadium projects or ease succession planning. Key details remain under discussion, including maximum investment percentages, whether funds can own stakes across multiple teams, and guidelines around exits. The league is also weighing if only minority common equity investments will be permitted. While maintaining control, NFL owners recognize the potential windfall from selling pieces of their prized assets to institutional investors eager to capitalize on the league's lucrative media deals and revenue-sharing model. A vote to approve the private equity pathway could come as early as next month.

Who’s down?
Houston, We Have a Problem with These Helmets. Just days before the Texans are set to unveil their new uniforms, a leaked video surfaced showing what appears to be their new alternate helmet design. And let's just say...it's not getting rave reviews from the H-Town faithful. The video depicts a navy helmet with an elaborate "H" logo in light blue and red trim. It's a busy, almost cartoonish look that has fans questioning the team's decision making. Many are drawing unfavorable comparisons to division rival Tennessee's colors and branding. "I hope that helmet is false, it's too close to the Titans helmet," one fan commented. "Smh no more Tennessee!" Others simply trashed the design outright. "This helmet SUCKS" and "Weak drip" were among the harsh critiques circulating online. While the Texans have embraced the "H-Town" marketing angle to connect with the city, this helmet misses the mark. The ornate font and color combo looks more suited for a minor league baseball team than an NFL franchise. The one semi-redeeming quality is the "H-Town" wordmark on the back bumper. But it's not enough to save an otherwise over-designed and unappealing lid. Of course, this could all be an elaborate ruse by cheeky owner Cal McNair. The real uniforms may look completely different when unveiled next Tuesday. But if this leak is legit, the Texans would be wise to go back to the drawing board on their rebrand. Houston's fans deserve a look that makes a bold statement, not one that has them pining for the return of the classic Bulls on Parade aesthetic.

NUMBERS YOU SHOULD KNOW
A look at the economic impact of hosting the NFL draft

Detroit is bracing for a major financial boost this week when it hosts the 2024 NFL Draft. Experts predict the three-day event could generate an economic impact in the "hundreds of millions" for the Motor City. Claude Molinari, president of the Detroit Metro Convention & Visitors Bureau, is bullish on the draft's potential. "We're expecting an economic impact in the hundreds of millions," he stated. Molinari cited Detroit's proximity to several other NFL cities like Cleveland, Cincinnati and Chicago as a key advantage in drawing large crowds. The 2023 draft in Kansas City provides a benchmark. It attracted 312,000 attendees and generated $164.3 million in economic impact, including $108.8 million in direct spending according to Visit KC data. However, Detroit officials believe their draft could surpass even the 2006 Super Bowl XL's estimated $300 million impact on the region. "This is potentially bigger than the Super Bowl," said Mayor Mike Duggan, noting the draft's multi-day nature and free admission allows for higher attendance. Out-of-town visitors will fill hotels across metro Detroit due to limited downtown capacity. The draft footprint will be expansive, spanning Campus Martius, Hart Plaza and other downtown locations. Planners are incorporating the Tigers' home series that weekend as an added draw. Corporate heavyweights like Rocket Companies, GM and Penske are among the event's top sponsors. Bill Emerson of Rocket Companies dubbed it "one of the most spectacular sporting events this city has ever hosted." With years of planning and a collaborative effort, Detroit is poised to showcase itself on the national stage and reap major economic rewards from the 2024 NFL Draft.

Did you know?

🏈 The 2023 NFL Draft in Kansas City generated an estimated $164.3 million in total economic impact, including $108.8 million in direct spending.
🏈 The 2019 NFL Draft in Nashville holds the record for highest economic impact, generating $223.9 million, with $132.8 million in direct spending. It also had a record attendance of 600,000 people.
🏈 For the 2024 NFL Draft in Detroit, officials are projecting an economic impact potentially exceeding $160 million, with over 300,000 attendees expected.
🏈 The 2006 Super Bowl XL in Detroit had an estimated economic impact ranging from $49 million (independent study) to $300 million (NFL estimate), showing the major financial boost large sporting events can provide host cities.

BEST LOOK 🔥 

The Cleveland Browns updated their helmets, going back to white facemasks fulltime and opting for the gloss finish, and the Detroit Lions released their new unis which includes a black alternate jersey thanks to HC Dan Campbell. Both of them knocked it out the park. Take note Houston.

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