15/5/5 for the week of July 8th, 2024
15 TO WATCH
Boston Celtics for Sale Amid Soaring Valuations The NBA champion Boston Celtics are officially up for sale, with majority owner Wyc Grousbeck planning to sell the team. The Celtics, valued at roughly $4.7 billion by Forbes in October 2023, could become the NBA's first $5 billion team following their 18th championship win. The sale is expected to close in two phases, with the majority stake sold by 2025 and the balance by 2028.
Panthers Move TV Deal from Bally to Scripps Sports The Florida Panthers have shifted their broadcast rights from Bally Sports Florida to Scripps Sports. This change, initiated by the Panthers, marks the first time in two decades that a South Florida major league team will air on an over-the-air TV station. The move is seen as timely, given the Panthers' increased popularity and Bally Sports' recent blackouts on Comcast.
LeBron James Signs Below-Max Deal to Help Lakers LeBron James has signed a two-year extension with the Los Angeles Lakers for $101.35 million, his first below-max contract in over a decade. This decision helps the Lakers avoid salary cap restrictions, potentially aiding future team-building efforts. Despite the pay cut, James' contract includes a player option for the second season and a default no-trade clause.
MLB All-Star Game to Boost Arlington’s Economy The 2024 MLB All-Star Game in Arlington, Texas, is projected to generate $90 million in economic activity for the city. The event will demand over 3,000 hotel rooms and significantly impact local businesses, including restaurants and retail. This marks Arlington’s continued rise as a hub for major sporting events, showcasing the city’s state-of-the-art facilities and entertainment district.
Jontay Porter Faces Federal Charges in Betting Scandal Former NBA player Jontay Porter is set to face federal criminal charges linked to a sports betting scandal. Porter, banned for life from the NBA, allegedly conspired with four men to place large bets on games he played in, where he agreed to take himself out early. This case highlights the increasing prevalence of high-profile sports betting scandals.
WNBA Sees Spike in Resale Ticket Prices The WNBA has experienced a significant increase in resale ticket prices, with the average price rising to $87.75 from $50.10 last season. Caitlin Clark’s presence has notably driven this surge, especially for her Indiana Fever games. The Fever lead the league in average resale prices for road teams at $160.09, highlighting Clark’s impact on the market.
Angel City FC’s Valuation Soars to $300 Million Angel City FC is poised to become the richest women’s sports team globally, with a potential valuation exceeding $300 million. Disney CEO Bob Iger and his wife Willow Bay are in talks to purchase a controlling stake from Reddit co-founder Alexis Ohanian. This valuation marks a significant milestone for the NWSL, reflecting the league’s rapid growth.
Dallas Stars Split from Bally Sports Southwest The Dallas Stars are set to end their local TV deal with Bally Sports Southwest, seeking alternative broadcasting arrangements. This decision follows Diamond Sports Group’s request to dissolve the rights agreement due to insufficient revenue generation. The Stars are exploring options, including launching a direct-to-consumer app and securing a new local TV deal.
Surfboard Market to Hit $4.8 Billion by 2028 The global surfboard market is projected to reach $4.8 billion by 2028, driven by significant growth in the shortboard segment. Increased numbers of surfers and advancements in surfboard design are key factors behind this expansion. The study highlights how the pandemic boom and new surf schools have fueled consumer demand.
NASCAR Partners with Lululemon for Chicago Street Race NASCAR has signed its first licensing deal with Lululemon for the Chicago street race, offering branded merchandise ranging from tank tops to leggings. Legends Global Merchandise will handle onsite sales, with various pop-up shops around the circuit. This partnership highlights NASCAR's efforts to diversify its merchandise offerings.
Inter, AC Milan, and Udinese Announce New Sponsorship Deals Inter Milan has renewed its partnership with BPER, expanding to include training center naming rights and kit sponsorships. AC Milan and Udinese have also secured new commercial partners, with Milan partnering with TG. Casino and Udinese with Banca 360 FVG. These deals emphasize the clubs’ efforts to boost their commercial portfolios.
NBA 2K League on Hiatus Amid Esports Industry Decline The NBA 2K League is revamping its operations, shifting focus to influencer-based content due to broader industry struggles. The league has laid off most of its staff and will be on hiatus until next year. This move reflects the challenges facing esports, including declining valuations and financial losses.
WWE Events Boost Local Economies and Tourism WWE’s marquee events, such as WrestleMania and SummerSlam, significantly boost local economies by increasing hotel occupancy and tourist spending. The 2024 WrestleMania in Philadelphia increased hotel rates by 32.6% and occupancy by 22.4 percentage points. WWE’s integration with Endeavor's TKO Group aims to further expand its live events business.
Esports World Cup Partners with Amazon for Ecommerce Services The Esports World Cup has appointed Amazon as its official ecommerce partner, launching the Esports World Cup Hub. The hub will host the official EWC Twitch stream and offer discounts on gaming devices for ticket buyers. This partnership aims to enhance the fan experience and engage new audiences.
High School NIL Concerns Over Student-Athlete Eligibility High school sports authorities are concerned about the NIL Club’s impact on student-athlete eligibility. The Georgia High School Association and Florida High School Athletic Association have advised against signing with the NIL Club due to potential rule violations. The NIL Club is working on compliance measures to align with state bylaws.
SPORTS TECH 5
NASCAR Upgrades Tracks App with AI for Chicago Street Race NASCAR has enhanced its Tracks app with AI features for the Chicago Street Race, providing access to 60 low-latency video feeds and a Leader Cam. The app also offers free access to NASCAR Scanner audio and an interactive wayfinding map. These upgrades aim to improve the fan experience and reduce logistical issues.
Euroleague Partners with WSC Sports to Boost Content and Viewership Euroleague Basketball has partnered with WSC Sports to provide licensed footage for content creators, increasing online engagement. The Euroleague achieved a 27% increase in TV viewership, with around 1.1 billion viewers tuning in. The league’s digital platforms also saw record engagement levels, with impressions up by 79% and video views by 101%.
Cosm and Fox Sports to Show Copa América at LA Venue Cosm has partnered with Fox Sports to broadcast Copa América matches at its new shared reality venue in Los Angeles. Tickets for the third-place match and final are now on sale, with prices ranging from $22 to $77. The venue features 12K+ resolution video and spatial audio, providing an immersive viewing experience.
NTT DATA Transforms The Open with Advanced Tech NTT DATA is revolutionizing the fan experience at The Open with technologies like digital twins and AI. Their ShotView activation provides a digital representation of the golf course, while the AI-powered Digital Human, Lottie, offers real-time insights. The introduction of private 5G networks further enhances data processing and fan engagement.
Concerns Over Sports Technology in Competitions Purdue professor Jan-Anders Mansson raises concerns about the impact of high-tech sports equipment on athlete performance. Following regulations on high-tech swimsuits, over 130 records were broken in a year. Mansson emphasizes the importance of recognizing athletes’ achievements over technological advantages.
GOOD SPORTS 5
Red Sox Owners to Receive ESPYS Philanthropy Award The Red Sox ownership group, including the late Larry Lucchino, will receive the Sports Philanthropist of the Year award at the 2024 ESPYS. The Red Sox Foundation has driven $120 million in community investment, and initiatives like the Fenway Park Learning Lab and Home Base program have supported education and veterans' needs.
URI Receives Grant to Expand Sports Programs for Disabled Children The University of Rhode Island’s Feinstein College of Education received a $10,000 grant from the Doug Flutie Jr. Foundation to expand sports programs for children with disabilities. The grant will fund aquatic therapy, adapted dance, and rock climbing activities. These programs aim to promote physical, mental, and emotional well-being for participants.
Cavan Sullivan: US Soccer’s Rising Star Fourteen-year-old Cavan Sullivan is emerging as a standout talent in US Soccer. Coming from a soccer-rich family, Sullivan’s skills and potential have garnered significant attention. His development reflects the growing focus on nurturing young talent in US Soccer’s talent pipeline.
Northwestern’s TrueNU Using NIL To Raise Money For Charity: Northwestern athletes, through the TrueNU collective, have successfully used their Name, Image, and Likeness (NIL) deals to raise money for charity. This year’s Lift for Life event, a bench press competition to support Uplifting Athletes, saw players like Garner Wallace securing donations through NIL deals, including a $5,000 contribution from Sour Punch candy. Last year, the event raised $45,000, and efforts continue to grow, showcasing the positive impact of NIL in supporting charitable causes.
Red Sox OF Jarren Duran's Charity Shirt Sparks Conversation: Boston Red Sox outfielder Jarren Duran has openly discussed his mental health struggles and uses his "F--K 'EM" mantra as a personal motivator. After facing a warning from MLB for wearing a shirt with the slogan, Duran explained its significance in combating his mental demons. Despite potential fines, he continues to wear the shirt under his jersey and has launched an online store selling the shirts, with proceeds going toward mental health charities, demonstrating his commitment to raising awareness and support.