Finance

Big Ten outpaces SEC in revenue for FY 2023

Daily - 05/21/2024 | Daily - 05/21/2024

The Big Ten had nearly $880M in total revenue and distributed about $60.5M to each of its 12 longest-standing schools during its FY 2023, representing about a 4% increase in total revenue and a nearly 3% increase in per-school payouts compared to 2022, according to Steve Berkowitz...

Athletes and venture capitalists have a lot in common. No wonder so many people are both.

Unpacks Newsletter - 05/20/2024

Have you ever rung a Ring, took a Lyft, invested through Robinhood , studied on MasterClass , or Googled? Behind all these products and the companies that developed them were investors who managed to find and fund these revolutionary ideas early on. They are known...

WTA partners with PIF on rankings sponsorship

Closing Bell - 05/20/2024 | Unpacks Lite Newsletter - 05/20/2024 | Unpacks Newsletter - 05/20/2024

The WTA has entered into a multiyear partnership with Saudi Arabia’s Public Investment Fund (PIF) that will see PIF become the first ever title sponsor of the WTA Rankings and, according to a news release, the two organizations work together to “expand existing initiatives and develop new opportunities...

Finance: Earnings season reveals key learnings for Braves, Comcast and more

Journal - 05/20/2024

T he Milken Institute’s finance-focused Global Conference is increasingly home to some of the biggest names in sports. This year’s event, held this month at The Beverly Hilton in Los Angeles, featured Mark Walter and Magic Johnson reflecting...

GameSquare launches FaZe Media with $11 million investment from DraftKings' Matt Kalish

Esports Newsletter - 05/16/2024

GameSquare, the Jerry Jones-backed esports and gaming lifestyle organization, has expanded its portfolio by creating FaZe Media -- a new venture focused on creator-led intellectual property and internet media. The new brand will zero in on developing a creator-led internet media company, while GameSquare retains full ownership of FaZe...

Under Armour plans restructuring, with expected layoffs, following Q4 earnings report

Daily - 05/16/2024 | Daily - 05/16/2024

Under Armour has launched a “restructuring expected to include layoffs and other moves to boost efficiencies,” according to Lorraine Mirabella of the BALTIMORE SUN. The plan is expected to cost an estimated $70-90M in "pre-tax restructuring and related charges." UA announced the restructuring as it reported that sales in...

New study highlights economic impact of Paris Games

Daily - 05/16/2024 | Unpacks Newsletter - 05/16/2024

A new economic study released by Games organizers suggests at least a $7.3B impact on the Paris region from hosting the Olympics and Paralympics later this year. The study, done by the University of Limoges Centre for Law and Economics of Sport, offers that estimate...

Chernin Group invests in Classic Football Shirts

Morning Buzz - 05/16/2024

Seeking to capitalize on the worldwide rise of “football culture,” multi-stage investment firm The Chernin Group has invested $38.5M in Classic Football Shirts, a U.K.-based retailer specializing in vintage, unique, hard-to-find and match-worn soccer jerseys. The investment is aimed at growing the company’s North American business, which currently accounts...

Sharp Alpha closes $25M fund to invest in early-stage sports, gaming and entertainment startups

Sharp Alpha Advisors has closed an oversubscribed $25 million fund that will center on seed investments (ranging from $1-2 million) in early-stage sports, gaming and entertainment companies. This is the second sports-focused fund Sharp Alpha has raised, adding to a $10 million fund closed in 2021 . ...

AI robotics company Lucid Bots raises $9.1M Series A funding round

Lucid Bots closed a $9.1 million Series A round led by Cubit Captial and also included Danu Venture Group, Gratus Capital, Idea Fund Partners and Y Combinator’s Growth Fund. The Charlotte, N.C.-based Lucid Bots produces robots for commercial cleaning, including pressure-washing options in its Lavo Bot (for...

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Quote Of the day

If you want to buy into East Coast bias, you have every reason to buy into ESPN's East Coast bias watching that game. How about some impartiality here? I was embarrassed for ESPN.
-- Former ESPN host Dan Patrick, on the network's coverage of Pacers-Knicks -- which skewed heavily toward the Knicks, especially in Game 7. N.Y. POST, 5/20.

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Finance

Big Ten outpaces SEC in revenue for FY 2023

Athletes and venture capitalists have a lot in common. No wonder so many people are both.

WTA partners with PIF on rankings sponsorship

Finance: Earnings season reveals key learnings for Braves, Comcast and more

GameSquare launches FaZe Media with $11 million investment from DraftKings' Matt Kalish

Under Armour plans restructuring, with expected layoffs, following Q4 earnings report

New study highlights economic impact of Paris Games

Chernin Group invests in Classic Football Shirts

Sharp Alpha closes $25M fund to invest in early-stage sports, gaming and entertainment startups

AI robotics company Lucid Bots raises $9.1M Series A funding round

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