Nike has unveiled the 750,000 square foot LeBron James Innovation Center at its Oregon headquarters. The facility includes a sports research lab, 906 rooftop solar panels, a full-size basketball court, as well as the world’s largest motion capture system – and it runs on 100% renewable electricity.
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NHL Commissioner Gary Bettman said the league expects to generate more than $ 5 billion in revenue during the 2021-22 season.
That’s if a full regular season and playoffs aren’t disrupted by the global pandemic.
The NHL pocketed $ 4.4 billion in revenue in 2019-2020, a 14% decrease year over year. However, he missed out on nearly $ 3.6 billion in revenue that year due to limited fan participation. Team ratings collectively fell 2% from the previous year during this period, the first drop since 2001.
The league has made several deals that will help recoup some of the losses.
A seven-year, $ 2.8 billion primary broadcast deal was signed with Disney in March, bringing more than 1,000 games per season to ESPN.
A month later, the league landed a seven-year contract, $ 1.57 billion secondary rights agreement with Turner Sports.
In August, the NHL became the last league to start selling jersey ads. The patches will debut during the 2022-2023 season.
The Washington Capitals became the first NHL to land a jersey badge contract, signing a five-year deal with Caesars Sportsbook in September.
The future looks bright for the new NHL member as well.
Last month, the Seattle Kraken expansion team broke the NHL sales record for the first five days of a new jersey. The team sold nearly $ 1 million worth of merchandise in their first preseason game.
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Now is the right time to own a billionaire sports team.
The collective wealth of the 44 sports owners on the Forbes list of the 400 richest Americans increased 42% from a year ago to $ 392.4 billion.
Former Microsoft executive and owner of the Los Angeles Clippers Steve ballmer topped the list – for the seventh year in a row – with a net worth of $ 96.5 billion, more than three times the next owner, Dan Gilbert of the Cleveland Cavaliers, which is worth $ 30.2 billion.
The top of the list is dominated by NBA and NFL owners: 16 of the 20 richest American owners have a team in one of these leagues.
Owner of the New York Mets Steve cohen joined the list after purchasing the team in October 2020 for $ 2.4 billion. Cohen $ 16 billion ranks him fourth and makes him the richest owner in MLB by far.
At least one roster has prepared for a future in which she is no longer a team owner: Gayle Benson wants the next owners of the New Orleans Saints and Pelicans to keep teams where they are and donate the proceeds from the team’s sale to New Orleans charities. . She is one of the five women on the list.
Homeowners, who typically have a large portion of their wealth tied up in stocks and stakes in businesses, have benefited from a rise in the overall economy: S&P 500 and NASDAQ are both standing 28% from a year ago.
Indian entertainment group Sony agreed to take a 53% stake in rival Zee Entertainment last week, investing $ 1.6 billion in the company. The deal is yet to be done, but the combined company has reportedly already bid for media rights for the Indian Premier League.
Star India bought the rights to the league for $ 2.6 billion in a five-year contract in 2017. This year, the price is estimated at grow another 25% for the rights of 2023-2027.
Facebook, Amazon, Reliance and Disney – which bought Star for $ 71 billion in 2019 – are all potential bidders. The Sony-Zee merger would also be a top contender as it will become the largest media group in India with control of 27% of the country’s media market, according to Edelweiss.
Before Star outbid them in 2017, Sony owned the rights to the Indian Premier League for 10 years.
In 2016, Sony bought Ten Sports from Zee in a $ 385 million deal. Ten owned the rights to WWE, the UEFA Champions League, and major tennis and golf events.
Vikas Somani, head of mergers and acquisitions at Zee, has made it clear that the merged company will seek more sports rights. He told the Financial Times that “sport is an area that must be considered with care. ”
India’s Cricket Control Council plans to publish IPL’s tender for media rights for the 2023-2027 cycle in late October.
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Washington football’s head athletic coach Ryan Vermillion is under criminal investigation.
Reports surfaced on Monday that the team’s offices and Vermillion’s home were raided by agents of the Drug Enforcement Agency.
The team released a statement saying Vermillion has been placed on administrative leave “due to an ongoing criminal investigation which is unrelated to the team. “
The team has been a hotbed of controversy recently.
In December 2020, team owner Dan Snyder accused part owner Dwight Schar of a “extortion campaign” following reports that Snyder had reached an agreement on allegations of sexual harassment.
In March, Snyder agreed to buy the 40% of the team he didn’t already own for nearly $ 1 billion.
Earlier this year, the team was accused of having a toxic work environment who tolerated sexual harassment.The NFL is conducting an independent investigation into the team and its culture.
Vermillion was brought to the Washington football team by head coach Ron Rivera. Rivera worked with him for nine seasons as the coach of the Carolina Panthers, where he was the head coach for 18 years.
Mohegan Sun Casino has suspended betting on the WNBA after a potential conflict with bets placed on the Connecticut Sun, a team also owned by the Mohegan Sun.
Now TV, the media arm of HKT, has hit a OK with Formula 1 to broadcast the FIA Formula 1 Championship in Hong Kong until 2022.
FloSports sports streaming platform acquired HockeyTech, an ice hockey streaming platform and data provider.
Deandre Ayton was instrumental in Phoenix’s first appearance in the NBA Finals since 1993 – obviously, that’s not enough to pay him off as a result. The suns would be reluctant offer Ayton a maximum rookie contract extension before the October 18 deadline. For more stories like this, subscribe to the Sports section now.
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Tuesday’s response 33% of respondents play video games on at least one of their iOS devices.
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