Welcome back to The Varsity, my twice-weekly private email on all the power, money, egos, and egomaniacs driving the business of sports. Happy ESPYs Day to all who celebrate.

I will be in Dallas early next week for MLB’s All-Star Game festivities. It was 25 years ago that the league announced its All-Century team at Fenway Park—an anniversary that will prompt a ton of coverage on MLB Network over the next five days. Expect to see this Kevin Costner-narrated video on overdrive.

The fate of democracy appears to be hanging in the balance, and we’ve convened here to discuss the future of regional sports networks. I am convinced that this is how the founding fathers intended it! Meanwhile, this is a useful reminder to stop forwarding this damn email to your freeloading colleagues! If you keep it up, Marchand will show up at your door and offer a rousing recital of the Federalist Papers.

Okay, let’s get to it…