This week’s most interesting sports business stories
In this week’s SportsMoney Playbook: Crypto arms race fuels a sports sponsorship boom, Maxim’s bet on sports betting and a new Nascar track in the spotlight. Plus: US investors are cramming into Italian Serie A, do they have the patience for that?
As cryptocurrency companies seek to reach the general public, some platforms are spending hundreds of millions of dollars sponsoring athletes, teams, stadiums, and even leagues in an attempt to win over new fans. “It sounds like an arms race for user acquisition,” one expert tells us.
Maxim is the latest media company to launch into sports betting, with its online betting platform now expanding to a second state. Meanwhile, MaximBet offers NIL marketing offers to every woman NCAA Colorado athlete over the age of 21, whether playing in Division I, II or III.
TravisMathew, which isn’t exactly a golf brand, is succeeding in its niche by bridging the gap between performance and casual, with sales up 100% since 2019.
IndyCar released its 2022 calendar, and it contained a harsh surprise for fans. Nascar, meanwhile, has announced its own shopping list, with a new track joining the Cup Series, one of the busiest tracks in the country, known for its fast and fierce races.
After making the jump from Nascar to IndyCar, Jimmie johnson is still relearning to run, but he’s made incredible progress. “I have an idea of where the car is under me,” he tells us.
LSU gymnast Olivia dunne, already a benchmark in NIL’s nascent varsity sports market, is one of the partner athletes of a herbal wellness company. She, unlike the others, receives stock options in addition to the money and the proceeds.
Using data analytics and artificial intelligence, a software company gives golf club manufacturers the tools to automate processes, accelerate prototyping, and refine their designs.
With a land purchase contract, the Bear takes one more step towards abandonment Soldier field and downtown Chicago.
The Lawn mowers has landed a founding partner for the Intuit Dome in a financial services platform that wants to help them make the arena more environmentally friendly. The Wood wolves, too, has found a new sponsor, for their jersey patches.
The delta variant of Covid-19 is spreading across Australia, putting the Ashes, the most famous cricket competition, in peril.
Why American investors are pouring money into Italian Series A – and why it is, in fact, a risky game
With 777 Partners’ agreement last week to buy Genoa, six of Serie A’s 20 clubs will be controlled by Americans, who believe better management can increase team ratings. But while many investors come from the private equity and hedge fund worlds, structural problems in Italy mean it won’t be a quick turnaround for a struggling asset. Learn about the opportunity and risk for US investors in Italian football.
After further examination
Misfits Gaming Group, owner of three esports teams, raised $ 35 million in a round led by EW Scripps Company. Maybe the esports investment climate is about to change again. When we compiled our most recent ranking of the world’s most valued esports companies, we found that valuations had stabilized, investors had cooled, and businesses were rushing to restart. See the full roster, including the team worth over $ 400 million.
The last word
“I love to talk about the game, so if they ask me, I’m a book of knowledge and I’m very willing to share.” – Osterman Cat
Cat Osterman hangs up her boots after a legendary career on the mound, but she doesn’t completely leave softball behind. The three-time Olympic medalist, who has been a mentor to young professional league players Athletes Unlimited, plans to join a grassroots organization to help develop the game in low-income communities. “If this is their dream, they will prepare for it,” she tells us. Learn more about Osterman’s softball course and plans for his second act.
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