Go to Source Author: Eric Fisher Little has stood in the way of Fanatics’ meteoric business expansion over the past five years — but now, the sports industry colossus faces a very public and potentially costly obstacle from DraftKings.On Friday, the Massachusetts-based DraftKings submitted a surprise $195 million, all-cash, and unsolicited bid for PointsBet’s U.S. operations, seeking to supplant the $150 million deal Fanatics made for that company a month ago.The offer represents a rare speed bump for Fanatics, which has mushroomed beyond its sports merchandising origins into trading cards, international sales, collectibles auctions, content, and sports betting — all while building its company value to a stratospheric $31 billion. Only a broader decline in NFTs has forced a significant market retreat.Company

Go to Source Author: Andrew Cohen Minnesota Vikings wide receiver Justin Jefferson and Milwaukee Bucks forward Khris Middleton have invested in an $85 million Series F round raised by GetYourGuide, an online marketplace for booking travel and tourist experiences.Joining Jefferson and Middleton were investments from Philadelphia Eagles center Jason Kelce, Toronto Blue Jays pitcher Kevin Gausman, and Colorado Avalanche defenseman Erik Johnson. Their investments in GetYourGuide all came via Patricof Co, an investment firm whose clients span more than 50 athletes. Middleton and Gausman were among a group of 25 Patricof Co athlete clients in January to purchase a 104-acre farm in Iowa, with NFL stars Joe Burrow and Zach Ertz and NBA players Kemba Walker and Blake Griffin contributing investments. Patricof Co’s athlete

Go to Source Author: A.J. Perez Michael Jordan is selling his majority stake in the Charlotte Hornets. Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall — linked to the franchise’s potential purchase earlier this year — reached an agreement on a deal to purchase the club Jordan has owned for 13 years on Friday. The Hornets are valued at $1.7 billion. The sale, expected to be finalized in days, would leave the NBA without a Black controlling owner. The news also marks the third time in less than five weeks that Canadian businessman Steve Apostolopoulos has lost out on a pro sports team.Apostolopoulos previously led unsuccessful bids for the Washington Commanders and Ottawa Senators. He also had an interest in acquiring the Hornets.  The

Go to Source Author: Doug Greenberg Before he was leading the NFL in jersey sales and starring on the cover of “Madden NFL 24,” Josh Allen worked on his family’s farm in rural California. It’s brutal, gritty work, which the star Buffalo Bills quarterback says helped prepare him for the NFL.“The stuff I’m doing is hard — working out, keeping your body in shape,” he says on the “Like a Farmer” podcast. “But it’s not harder than moving an irrigation pipe in 115 degrees.”Allen is the first guest on “Like a Farmer” — which launches Thursday from AgAmerica, a financial lender for farmers, ranchers, and landowners across the United States.The show seeks to bridge the gap between everyday consumers and agriculture workers

Go to Source Author: David Rumsey The Nevada senate passed a $380 million bill that would help fund a Las Vegas ballpark for the A’s should they move from Oakland.The bill now moves to the state’s assembly, but that body is expected to add amendments of its own before voting on the bill, according to the Nevada Independent.Should the assembly pass an amended version, the bill would have to be approved once more by the Senate before heading to the governor’s desk for a signature or veto.On Tuesday, two amendments added to the bill by the senate prompted a 13-8 vote in favor of the project.One amendment provided more definition to the project, including codifying the Tropicana site as its

Go to Source Author: Eric Fisher The Ottawa Senators play in one of the NHL’s smallest media markets, ranked 25th in average attendance this season, haven’t reached the playoffs since 2017, and have regularly posted operating losses.Before Tuesday, the idea that the club would sell for a record price seems admittedly farfetched.But the robust health of the league, the promise of a new downtown arena, and competitive bidding led to a sale worth nearly $1 billion to Montreal Canadiens co-owner Michael Andlauer, a new NHL highwater mark. The deal tops the $900 million Fenway Sports Group paid for the Pittsburgh Penguins in 2021.Arriving after a protracted, seven-month sales process, the deal further underlines a period of historic strength for the NHL. Overall

Go to Source Author: Doug Greenberg Few spectators inside Istanbul’s Atatürk Olympic Stadium understood what Manchester City’s win in the 2023 UEFA Champions League Final meant more than Micah Richards.“I’ve been there as a kid and seen all the hard work that goes in behind the scenes,” he told reporters before Saturday’s match, which saw Man City defeat Inter Milan 1-0 to capture its first European title.“As a town, as a community, they’ve done absolutely everything to ensure that they win the Champions League.”But as impressive as City’s achievement is, it arrives under the shadow of looming Financial Fair Play allegations — potential violations from its foreign ownership that date back almost to the start of the club’s modern era.“If they are

Go to Source Author: Amanda Christovich For the past two years, states have been crafting various name, image, and likeness laws that would give their states a competitive edge in the NIL landscape.But there’s something different about the latest batch of bills and amendments: They’re making it illegal for the NCAA to enforce some of its own NIL rules. 

Go to Source Author: Eric Fisher Live racing resumed early Friday at Belmont Park, reviving hopes that Saturday’s 155th running of the Belmont Stakes will proceed as scheduled after air-quality issues suspended activity at the track.The event carries significant ramifications for Fox Sports, which will now show the event after a lengthy tenure on NBC Sports. Fox Sports acquired the media rights early last year in an eight-year deal — including presenting sponsorship rights to the race for NYRA Bets, a wagering platform controlled by the New York Racing Association and 25%-owned by Fox Sports parent Fox Corp.That more unusual structure to the rights agreement has network officials looking even more at betting activity around the race than television ratings, and NYRA

Go to Source Author: Michael McCarthy The joke inside NBC Sports was if chairman Pete Bevacqua was ever offered the athletic director job at his alma mater Notre Dame, he’d take it in a heartbeat. That’s precisely what happened on Thursday as Bevaqua accepted an offer to succeed Jack Swarbrick as Notre Dame’s director of athletics next year.The move was not a surprise. Bevacqua is just the latest top sports TV executive to migrate to the college ranks. Big Ten Commissioner Tony Petitti and American Athletic Conference Commissioner Mike Aresco are both former CBS Sports executives.Former ESPN executive John Wildhack got the ball rolling back in 2016 by shifting from the Worldwide Leader in Sports to Syracuse University as director of athletics.Several factors are