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Sportico

NBA TV Partners This Season Booked $1.3 Billion in Ad Revenue

Click here to read the full article. The TV ratings for the 2022 NBA Finals may have failed to return to pre-pandemic levels, but the postseason ad dollars were as high as they’ve ever been. According to iSpot.tv data, Disney and Turner Sports’ coverage of the two-month playoffs stretch raked in $842.4 million in sales revenue, as official NBA sponsors such as AT&T Wireless, State Farm, Google Pixel, Kia Motors and Taco Bell chased after the spring’s largest allotment of ad impressions. That marked a 19% lift over the $705.3 million that ESPN, ABC and TNT brought in during last year’s...
NBA
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Sportico Transactions: Moves and Mergers Roundup for June 24

Click here to read the full article. Welcome to Sportico’s Transactions wire, a weekly rundown of personnel, partnerships and purchases across the sports business industry Purchases Fertitta Entertainment Nabs Spot on Vegas Strip Houston Rockets owner Fertitta Entertainment has acquired a 6.2-acre development site on the Las Vegas Strip at the corner of Harmon Avenue, which was once the site of the Harley Davidson Cafe. Along with the NBA team, Fertitta Entertainment owns Golden Nugget Casino Resorts, more than 600 restaurants and the Post Oak Hotel. Spectrum Gaming Capital advised Fertitta Entertainment on the acquisition, which is reported to have cost roughly $200...
LOS ANGELES, CA
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Shaq Scores New Shack in Northern Dallas Suburbs

Click here to read the full article. They say everything is bigger in Texas, but the suburban Dallas home where Shaquille O’Neal has decided to plant his humongous size-23 feet is but one-sixth the size of the massive Florida mansion he sold last year. Records show the Lone Star state deal went down almost two months ago, but it’s only now come to light via Dallas Morning News and Candy’s Dirt that the NBA legend and advertising pitch maestro has acquired a home in Carrollton, Texas, about 25 miles north of downtown Dallas, Dirt reports. The final sale price is unknown, but...
LOS ANGELES, CA

Title IX Helped Forge a U.S. Soccer Legacy That Continues Today

Click here to read the full article. This week, Sportico is commemorating the 50th anniversary of Title IX with columns from top women’s sports leaders. Today’s guest columnist is Cindy Parlow Cone, president of the U.S. Soccer Federation. JohnWallStreet returns on Monday. When I was 5 years old, my mom signed me up for ballet. I was excited. I flew down the stairs in my leotard. And, my soccer cleats! My mother gave me a look of shock and explained that I couldn’t wear cleats to ballet. I protested that my brothers could wear cleats to all their activities. Ultimately, we...
FIFA

NBA Draft 2022: Contracts for Every First-Round Pick

Click here to read the full article. The consensus top three picks in the 76th annual NBA Draft were the first players off the board Thursday night at the Barclays Center, but not in the expected order. The Magic pulled the surprise move by taking Paolo Banchero first overall, while presumed No. 1 pick Jabari Smith Jr. fell to the Rockets at third. The Thunder landed Chet Holmgren second overall. The two-pick jump for Banchero means an extra $10 million in his paycheck over the next four years for the forward, who spent one season at Duke. NBA salaries have soared over...
NBA

Sports Lending Market Back to Normal as Higher Rates Spur Team Refinancing

Click here to read the full article. Though leagues and teams loaded up on debt to get through the pandemic, strong cash flow from media deals and the return of full seasons and full stands has sports organizations in a good spot, even as interest rates continue to rise. “[Early in the pandemic, team] owners prepared for the absolute worst, and they prepared for something worse than what actually happened,” Steve Vogel, managing director of the sports finance group at U.S. Bank, said in a phone call. “Obviously there was still bad stuff going on, but on a relative basis, what...
LOS ANGELES, CA

NFL and Players Union Negotiating Watson Deal in Test of New CBA

Click here to read the full article. The looming legal battle over a looming appeal of a looming NFL suspension of Deshaun Watson might all get benched. According to journalist Josiana Anderson, the NFL and NFLPA, along with representatives for Watson, are attempting to negotiate a settlement before retired federal Judge Sue Robinson, serving as a neutral disciplinary officer under the NFL’s new procedures, hands down a suspension. Anderson explains that the talks have been tabled because of a disagreement over the number of games Watson would be sidelined. The NFL’s reported willingness to settle with Watson is an illustration of how...
NFL

NHL to Launch NFT Platform With Eye on Fan Engagement

Click here to read the full article. After tracking the market for more than a year, the NHL announced a league-wide, multiyear partnership with NFT platform Sweet on Thursday. The league will launch a blockchain marketplace for digital collectibles and video moments later this year, with a focus on engaging fans both online and in person. The NHLPA and NHL Alumni Association are also part of the agreement. Financial details were not disclosed, though Sweet has offered a guaranteed annual minimum as part of the deal. In addition to buying and trading NFTs, the destination will allow users to build digital trophy...
NHL

Bain Capital to Buy Sports Streaming Tech Platform Deltatre From Bruin

Click here to read the full article. Bain Capital and Italian asset manager Nextalia SGR have reached an agreement to acquire sports tech provider Deltatre from Bruin Capital. The deal values Deltatre between $700 and $900 million, according to someone familiar with the terms, who was granted anonymity because the details are private. Bruin, which worked with Evercore to assist with the sale, purchased Deltatre in 2016 in a deal that valued the company at roughly $159 million (€143 million). Financial terms were not disclosed, nor was the split between Bain and Nextalia SGR. Deltatre’s business includes back-end streaming technology and website services...
UEFA

A Letter to a Future WNBA Player on the Anniversary of Title IX

Click here to read the full article. This week, Sportico is commemorating the 50th anniversary of Title IX with columns from top women’s sports leaders. Today’s guest columnist is Cathy Engelbert, commissioner of the WNBA. JohnWallStreet will return June 27. Dear Future WNBA Player, I’m writing to you in 2022, when you’re young, just a 12-year-old athlete, 10 years away from a dream of being drafted into the WNBA. At this moment when you’re reading this letter, you may not realize what your future holds. I can tell you it’s going to be exciting, challenging, interesting and bright. But that future wouldn’t be...
COLLEGE SPORTS

Sporticast: Bear Market Descends on Sports Teams, Owners and Fans

Click here to read the full article. On the latest Sporticast episode, hosts Eben Novy-Williams and Jacob Feldman discuss some of the biggest sports business stories of the week, including the U.S. economy entering an official bear market. Both the S&P 500 and the Nasdaq are coming off their worst weeks since March 2020, combined with persistent inflation and a cryptocurrency collapse, all things that could have a dramatic effect on sports. Recessions can negatively impact franchise values—the 2008-09 recession was the only time in the past 30 years when sports team values fell in unison—but also spur an increase in...
MLS

Under Armour College Cuts, Curry Seen as Bright Spots in Long Turnaround

Click here to read the full article. At the moment, it’s easy to make a bear case for Under Armour. The performance apparel maker’s CEO, Patrik Frisk, stepped down from the company effective the start of this month with no permanent replacement lined up. Its stock got kicked out of the S&P 500 index this week, and it sits about a buck away from its all-time low. Nearly 12% of its stock is held by short-sellers betting Under Armour will fall further. But to institutional investors, there is hope that the business made famous for its moisture-wicking sportswear may be turning...
COLLEGE SPORTS

Las Vegas Sports Betting Giants Roll the Dice on Hollywood Talent

Click here to read the full article. Hollywood has come to accept that content is the primary weapon in the streaming wars. Quietly, as legalized online sports betting spreads across the country, content also has become the weapon of choice for digital casino operators and betting firms looking for that edge in what has been an expensive grab for consumer dollars. And content creators, from production companies to podcasters to established TV talent, are cashing in, The Hollywood Reporter writes. “It is the streaming wars version for casino operators,” former Wall Street analyst Hal Vogel says. Online sports betting has been on...
LAS VEGAS, NV

House Panel to Subpoena Daniel Snyder Over Workplace Allegations

Click here to read the full article. The House Committee on Oversight and Reform held a highly publicized hearing on Wednesday in which NFL commissioner Roger Goodell repeatedly parried accusations of mishandling his review of the Washington Commanders’ workplace. But the most significant development came when committee chair Carolyn Maloney announced her intent to subpoena team owner Daniel Snyder. Snyder had declined an invitation to testify at a hearing titled “Tackling Toxic Workplaces: Examining the NFL’s Handling of Workplace Misconduct at the Washington Commanders.” His lawyers have suggested the committee hasn’t been fair in its probe. Maloney, who sharply criticized Snyder throughout...
NFL

NHL’s Coyotes Pitch $1.7 Billion Arena Complex for Tempe Landfill

Click here to read the full article. The Arizona Coyotes are negotiating a deal with the City of Tempe, in which the team would invest “$1.7 billion into transforming 46-acres of public property from a trash landfill site into a landmark for millions of visitors to enjoy,” according to documents about the project viewed by Sportico.. As part of the plan, the team would buy the land and finance the construction while the city would provide a permanent property tax abatement and $250 million in bonds for infrastructure that would be paid for by a user fee on purchases and sales...
TEMPE, AZ

Fanatics Billionaire Michael Rubin Selling 76ers, Devils Stakes

Click here to read the full article. Billionaire Michael Rubin is selling his nearly 10% stake of Harris Blitzer Sports & Entertainment, the parent company of the Philadelphia 76ers and New Jersey Devils. The Fanatics CEO, who increased his stake in the company in 2020, is currently the third-largest shareholder behind Josh Harris and David Blitzer. The deal is expected to close in the coming weeks. HBSE will likely be valued around $3 billion in the transaction, according to someone familiar with the talks, which is in line with the valuation in a separate HBSE stake sale involving Arctos Sports Partners earlier...
PHILADELPHIA, PA

Arctos, Kraft, Rubin Among Heavy Hitters in $35M Jackpot Raise

Click here to read the full article. Online lottery platform Jackpot has raised $35 million from a powerful list of sports owners, athletes and investors. The Series A was co-led by Courtside Ventures, the VC fund backed by Cleveland Cavaliers owner Dan Gilbert; and by Accomplice, an early DraftKings investor. Others in the round include Fanatics CEO Michael Rubin, Arctos Sports Partners, the Kraft Group, DraftKings CEO Jason Robins, Sapphire Sport, NBA stars James Harden and Joel Embiid, and groups connected to the owners of the Cleveland Browns and Los Angeles Dodgers. Jackpot is hoping to capitalize on a U.S. lottery market...
GAMBLING

NCAA’s Southern Comfort: Judge Geography Affects Legal Outcomes

Click here to read the full article. Today’s guest columnist is Chris Corr of Troy University. When the Board of Regents at the University of Oklahoma and University of Georgia initially filed an antitrust suit against the NCAA in 1981, United States District Judge Lee Roy West recused himself immediately. The lawsuit—which served as a watershed moment in the history of NCAA litigation—concerned the association’s monopoly over television rights and would become the first case challenging NCAA authority argued before the Supreme Court of the United States. As a native Oklahoman and graduate of the University of Oklahoma, West held no reservations about...
COLLEGE SPORTS

Bill Russell Set to Join Babe Ruth on the Blockchain This Summer

Click here to read the full article. Over 1,000 NBA legends could soon be headed to the blockchain.  The National Basketball Retired Players Association (NBRPA) recently signed a multiyear group licensing deal with athlete-focused NFT platform ARIA Exchange, with the first set of digital collectibles expected this summer. That first release will feature the likes of Clyde Drexler, Grant Hill, Karl Malone, Hakeem Olajuwon, Bill Russell, John Stockton, Isiah Thomas, Jerry West and Dominique Wilkins. “As the demand for legends and their one-of-a-kind collectibles skyrockets, this partnership with ARIA Exchange allows us to bring our legends into a new and innovative marketplace,...
NBA

The Pandemic Youth-Sports Reset That Never Happened

Click here to read the full article. More than 40 million children in the United States play sports—approximately half of all kids between the ages of 6 and 16. There is no doubt that many kids today are deeply connected to sports. While sports have long been deeply embedded in youth culture, the form and intensity of kids’ connection with sports has shifted rather dramatically. As travel clubs became commonplace, the system has grown more hierarchical and profit-driven. Playing for an “elite,” academy or regional team has become the new marker of status for the competitive athlete. Individuals must travel to other states...
EDUCATION