Welcome to the “Spotlight!” In this crazy world, if there’s one thing that makes sense, it’s that nothing makes sense. LeBron James seems to have joined the same movement as my parents and became interested in pickleball. For the uninitiated in the sport, imagine a tennis court… then make it smaller, and with paddles larger than ping-pong, but smaller than tennis. Oh, and a brightly colored wiffleball instead of a furry neon ball. Unlike my parents, however, LeBron, through his venture capital fund, bought a stake in a professional pickleball team. Given that LeBron’s bread and butter is basketball, it might seem like he’s crushing us with a half-sour investment, but in fact, pickleball is one of the fastest growing sports in the world. world and has caught the interest of many other high-profile investors.Speaking of pickles, former NFL quarterback Brett Favre finds himself in one of them as allegations of embezzlement of Mississippi state welfare (there, I spell it) continues to mount against him. So far, no criminal charges have been brought against Favre, but the court of public opinion is decidedly against him. Turns out an upside-down Robin Hood multi-millionaire taking money from the poor isn’t exactly the type of story one would want to cast them in a favorable (Favre-ble?) spotlight. .
- LIV Golf, backed by the Saudi Sovereign Wealth Fund, is forced to buy airtime from Fox Sports. Usually, it’s the league the network buys airtime from, not the other way around. Then again, golf is a sport where the lowest score wins, so maybe we should consider this move in that light.
- As cryptocurrency exchange company Crypto.com can attest, there’s no denying the marketing power of sports sponsorship. In that regard, it makes sense that a new investment app called Scout would search for name, image, and likeness (NIL) offerings on college campuses in an effort to encourage student enrollment. Then again, the free pizza also goes a long way.
- Maybe it’s the headwinds of the global economy, but the NFT market has cooled considerably. In a related story, Melania Trump sells Christmas NFTs.
Endorsement offers, sponsorships and investments
Schools like Penn State Self-Police Student and Athlete Endorsement Agreements
September 28, 2022 via Gant Daily News
Student-athletes can now make money from their “name, image and likeness,” but there isn’t much incentive for the state or universities to hold violators accountable.
Sports sponsorship gives Crypto.com ‘widest global audience’, says CMO
September 27, 2022 via Sport Business
Crypto.com’s billion-plus sports sponsorship deals have helped the cryptocurrency platform reach “the widest global audience” and spur rapid user growth, a said the company’s chief marketing officer, Steven Kalifowitz, at the Sports Matters conference in Singapore. .
As College Athletes Take Advantage of NIL, Tax Experts and Schools Remind Them to Pay Uncle Sam
September 22, 2022 via News Break
Rayquan Smith doesn’t play football or compete as a decathlete at a major college, but that hasn’t stopped the two-time Norfolk State University athlete from cashing in on sponsorships that are now allowed under a new policy changing the financial landscape of amateur sport.
Scout raises $2.6 million to turn student-athletes into investors
September 28, 2022 via Sportico (subscription may be required)
Scout, an app designed to help people establish early investing habits, recently raised $2.6 million in a seed funding round.
Phil Mickelson and 3 others quit LIV lawsuit against PGA Tour
September 27, 2022 via Sportico (subscription may be required)
And then they were three. The high-profile antitrust lawsuit originally filed by 11 LIV golfers against the PGA Tour now has just three golfers: Matt Jones, Bryson DeChambeau and Peter Uihlein.
NFL DraftKings Playing Positions for Players Market, Peer-to-Peer Betting
September 26, 2022 via Sportico (subscription may be required)
DraftKings recently introduced a new daily fantasy game called Reignmakers, boasting over $1 million in cash and prizes each week of the NFL season, and $30 million in total.
Udoka’s year-long ban from Celtics draws workplace misconduct into NBA spotlight
September 23, 2022 via Sportico (subscription may be required)
The Boston Celtics have suspended head coach Ime Udoka for the entire 2022-23 season for multiple “violations” of unspecified “team policies”.
Wrangler® introduces the Denim Collection designed by Grammy-winning musician Leon Bridges
September 28, 2022 via Business Wire
Wrangler®, one of America’s most recognized denim brands, announced the brand’s continued collaboration with “Mr. Wrangler,” Grammy Award-winning recording artist Leon Bridges.
Music producer Mr. Probz seeks 10 million euros from Sony in royalty dispute
September 27, 2022 via NL Times
Music producer Dennis Stehr, better known as Mr. Probz, has sued the Dutch subsidiary of record company Sony.
U.S. industry welcomes launch of radio royalty proposals in U.S. Senate
September 23, 2022 via Full Music Update
The US recording industry welcomed the introduction of formal proposals in the US Senate that would require AM and FM radio stations nationwide to begin paying royalties to artists and record labels for the first time.
Timbaland and Swizz Beatz settle ‘Verzuz’ lawsuit with Triller
September 22, 2022 via Billboard
“VERZUZ has always been a platform created by artists, for artists and with the people,” Swizz Beatz and Timbaland said in a statement.
Cinema and television
LIV Golf ‘will buy airtime on Fox Sports after networks back down on Saudi-backed tour’s first TV deal’
September 28, 2022 via The Daily Mail
Rather than selling media rights, it looks like the Saudi-backed LIV Golf Tour will buy airtime on Fox Sports 1 instead.
Apple will pay nearly $50 million a year for the Super Bowl halftime show
September 23, 2022 via Sportico (subscription may be required)
Apple is the next sponsor of the Super Bowl halftime show. The National Football League has announced a new partnership with Apple that includes the rights to the 12-Minute show, one of music’s biggest annual events.
Amazon’s NFL Thursday Debut Hits 13 Million Viewers, Records Prime Listings
September 22, 2022 via Sportico (subscription may be required)
One week to the day after Amazon Prime Video officially kicked off its handling of the NFL’s Thursday Night Football package, Nielsen’s ratings have finally arrived and the results have exceeded all expectations.
Non-fungible tokens (NFT)
Melania Trump markets new Christmas decorations and NFTs
September 28, 2022 via Star-Telegram
Melania Trump is getting into the holiday spirit by peddling Christmas ornaments and NFTs she designed.
NFT sales have lost most of their appeal
September 28, 2022 via Crypto News Australia
Crypto-focused people have a harder time getting money for their rude, insulting annoyed monkeys and featureless, dull-eyed 8-bit faces from CryptoPunks, according to cryptanalytic data.
Qtopia, the first LGBTQ+ metaverse, launches its first NFT real estate sale
September 28, 2022 via GlobeNewswire
Crypto Blockchain Industries (CBI), French developer of blockchain games, technologies and products, in collaboration with Crypto Meta LLC. (CM), announced the initial launch of NFT Land presales for Qtopia, the first LGBTQ+ metaverse.