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☆ Raine details 3 themes driving its sports investing as it hunts for more deals
▼ + stars: | 2024-04-25 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Raine was an early investor in DraftKings — which helped establish the US sports-betting sector — and has been investing at a rate of about three companies a year. Raine is looking to take stakes in leagues with rights they can monetize in various ways and invest in growing, founder-led companies. Raine says college sports still hold a big opportunity for outside investors, even if the structure of college athletics adds complexity. In 2019, Raine helped the Pac-12 Conference explore raising private equity (which it ultimately decided against doing). Raine also helped the PGA Tour raise $3 billion this year through a for-profit entity.

Persons: Joe Ravitch, Jeff Sine's, It's, Raine, Colin Neville, that's, Garrett Gomes, Raine isn't, Banks, JPMorgan Chase, Neville Organizations: Imagine, Business, Apple, Premiere Lacrosse League, RCX Sports, Private, Florida State, Sixth, JPMorgan, CNBC, PGA Locations: DraftKings, Florida

☆ Nick Saban: Former football coach laments the current landscape of college sports
▼ + stars: | 2024-03-13 | by ( Kevin Dotson | Ben Morse | ) edition.cnn.com time to read: +4 min

CNN —Invited to speak at a roundtable discussion with a handful of US Senators on Capitol Hill Tuesday, former football coach Nick Saban spoke about how the current landscape of college athletics contributed to his decision to retire from the University of Alabama after the 2023 season. “All the things that I believed in for all these years, 50 years of coaching, no longer exist in college athletics,” Saban said at the roundtable, a video of which was posted online by Sen. Ted Cruz (TX). “I’m for student athletes being able to share in some of this revenue. Second, committ to work with their peer institutions in this subdivision to create rules that may differ from the rules in place for the rest of Division I. At the conclusion of the roundtable, Saban again expressed his worry for the future of college sports.

Persons: CNN —, Nick Saban, ” Saban, Sen, Ted Cruz, ” “, “, I’m, Saban, ”, “ I’m, couldn’t, Charlie Baker, Baker, IX, committ, it’s Organizations: CNN, Senators, Capitol, University of Alabama, Alabama, LSU, NCAA Division, NCAA Locations: Ted Cruz (, Division

The attorneys general of Tennessee and Virginia filed suit on Wednesday against the N.C.A.A., saying the body that regulates college athletics has no right to block the increasingly common practice of wealthy boosters paying to attract top recruits. The suit was filed a day after the disclosure that the N.C.A.A. was investigating the University of Tennessee’s football program for recruiting violations involving a donor group that arranges to pay athletes. The driving force behind that change has been donor collectives, which are groups of alumni and other boosters who donate money that is used to compensate top athletes, sometimes in amounts approaching professional levels. In effect, the collectives pay salaries disguised as endorsements, and they now play a central role in the process of wooing players in football, basketball and other sports.

Organizations: University of Tennessee’s Locations: Tennessee, Virginia

The N.C.A.A. Having the booster group pay for the trip by the quarterback, Nico Iamaleava, would be a violation of N.C.A.A. The inquiry comes after the N.C.A.A. penalized Tennessee for different recruiting violations and signals the N.C.A.A.’s growing concern about the scale and influence of the money being injected into college sports by donor collectives. News of the investigation into Tennessee’s athletic program was first reported by Sports Illustrated.

Persons: —, Nico Iamaleava Organizations: University of Tennessee’s, Sports Illustrated Locations: Tennessee

DURHAM, N.C. (AP) — Romeo Myrthil and his Dartmouth teammates are pursuing multiple goals to start the college basketball season. “I feel like NIL's been moving on a lot and changing the landscape of college basketball," Myrthil told The Associated Press after the Duke game. Dartmouth College lawyers have argued to the National Labor Relations Board that players shouldn't be considered employees. When it's time to play basketball, it's time to play basketball. AP college basketball: https://apnews.com/hub/ap-top-25-college-basketball-poll and https://apnews.com/hub/college-basketball

Persons: Romeo Myrthil, There's, They're, Duke, Myrthil, Green, Robert McRae III, it'll, McRae, shouldn't, Ivy League doesn't, ” McRae, ” ___ Organizations: Dartmouth, Service Employees International Union, Associated Press, Ivy League, Ivy, ”, Dartmouth College, National Labor Relations Board, basketball Locations: DURHAM, N.C

The person spoke to The Associated Press on condition of anonymity because the portal decision was not announced publicly. Cavinder and her twin sister Hanna played at Miami last season and helped the Hurricanes reach the Elite Eight. Haley Cavinder had told the AP last season that she planned to play one more college season; Hanna Cavinder said she was likely done playing. The twins announced in April they would not be playing this season. Haley Cavinder ended last season with 2,065 career points, which was 19th-most among all active Division I players.

Persons: — Haley Cavinder, Cavinder, —, ”, Instagram, Hanna, Haley Cavinder, Hanna Cavinder, Miami — Organizations: Associated Press, Miami, Hurricanes, AP, Fresno State, NCAA, Boost Mobile, womens Locations: Fla, Miami, Fresno, TikTok, New

☆ Shane Shifflett — Reporter at The Wall Street Journal
▼ + stars: | 2023-09-02 | by ( Shane Shifflett | ) www.wsj.com time to read: 1 min

Shane ShifflettShane Shifflett is a reporter for The Wall Street Journal covering topics at the intersection of finance and climate change. His stories have explored how regulators, small businesses, tech companies and debt collectors influence the economy. He joined the Journal in 2016 as a graphics reporter building interactive data visualizations. Before joining the Journal, he worked for the Huffington Post on a range of topics from the business of college athletics to the World Bank's policies protecting indigenous people. He began his career in California covering judicial conflicts of interest, local elections and transit for the Center for Investigative Reporting and the Bay Citizen.

Persons: Shane Shifflett Shane Shifflett Organizations: Wall, Huffington, Center, Investigative, Bay Citizen Locations: California

☆ What Just Happened at West Virginia University Is Alarming - The New York Times
▼ + stars: | 2023-08-20 | by ( Leif Weatherby | ) www.nytimes.com time to read: +3 min

E. Gordon Gee, the president of West Virginia University, once promised that the school would have 40,000 students by 2020, but the figure is still well under 30,000 across three campuses and is projected to drop. The humanities are under threat more broadly across the nation because of the perceived left-wing ideology of the liberal arts. To resist this assault, we must provide broad access to a true liberal arts education. The campaign to overturn the liberal arts is politically motivated, through and through. I was lucky: My parents put a liberal arts education above all other goals.

Persons: Gordon Gee, Gee, Theodor Adorno, Herbert Marcuse, ” Organizations: West Virginia University, West Virginians, Democratic Party, Republican Party Locations: New York

☆ How a college football quarterback with 36,000 Instagram followers scored more than 30 brand deals and made himself the go-to voice for NIL
▼ + stars: | 2023-07-31 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +15 min

Chase Griffin has more than 30 brand deals, and his recent ones are mostly multi-year partnerships. Chase Griffin. 1st College Athlete Brand Ambassador for the largest/most powerful bank in the world. JP MOrgan Chase 1st College Athlete Brand Ambassador. "NIL & Athlete Brands: A NewEra", November 22, 2022.

Persons: Chase Griffin, Griffin, JPMorgan Chase, he'll, influencers, Chase Griffin Griffin, Griffin doesn't, He's, that's, I've, Page, JP Morgan Chase, Lucchese Bootmaker, Frances https, JP MOrgan, Chase Griffin Chase Griffin, Chase, Lucchese, Ed, Arthur Ashe Jr Organizations: UCLA, Gatorade Football, University of California, DirecTV, Foods, JPMorgan, LA Regional Food Bank, Bloomberg, LinkedIn, Boost Mobile, LA Food Bank, DMs, Twitter, JPMorgan Chase, Range Media Partners, WGA, SAG, Brands, ucla, Creative, Banking, Chase Bank, Morgan Wealth, Bank, Champs, Urban Outfitters, United States Polo Association, Lucchese, Hollywood, Marketing, UWG, UC Investments Academy, Fund Public Service, Regional Food Bank, Empowerment, Sports, Entertainment, Beach, Sports Rights, Cannes, Creativity, Cannes Lions, College Football Hall of Fame, Association, Conference, 1st, Financial, JP MOrgan Chase, Brand, of College Athletics, Rose Bowl, Community, Royce, True Bruin, Town Hall, Sports Innovation, Chase Center, NV, Regents, Brand Innovators, College, Los Angeles Times, ESPN, Unilever, Shell, Rose Bowl Stadium, Los Angeles Regional Food Bank, Leadership Team, Council, Range, WPP, University of California Investments, UC, Santa Monica Hospital, Public Affairs, Leadership, UCLA Law, National Football Foundation, Pro Football Hall of Fame, Texas High, Gatorade Locations: Texas, Los Angeles, Opendorse, Instagram, Hollywood, CA, Cannes, Atlanta, Carlsbad, Los Angeles , CA, Pasadena, Los Angeles CA, San Francisco , CA, Los Angeles ,, Las Vegas, United

USC, the NCAA and the Pac-12 Conference, which is also named in the complaint, did not immediately respond to requests for comment on Friday. The board in December had said it found merit to charges filed by a group of USC players seeking to be treated as employees, and said it would issue a complaint absent a settlement. The U.S. Supreme Court in 2021 struck down the NCAA's limits on non-cash compensation for athletes, such as scholarships and paid internships. Several states including California have passed laws letting college athletes profit from their name, image and likeness rights. The USC case is the first filed by the board since its top lawyer, in a 2021 memo, asserted that college athletes should be classified as employees because they provide services that generate profits controlled by their schools.

☆ NCAA hires Massachusetts Gov. Charlie Baker as next president
▼ + stars: | 2022-12-15 | by ( David Close | ) edition.cnn.com time to read: +2 min

CNN —The National Collegiate Athletic Association (NCAA) has hired Charlie Baker, the outgoing Governor of Massachusetts, as the next president of the organization. A year ago, Baker announced he would not seek re-election in 2022 for a third term as governor. Baker succeeds long-time president Mark Emmert. Outgoing NCAA president Mark Emmert speaking at a press conference for the before the 2022 Men's Final Four on March 31 in New Orleans. Tom Pennington/Getty Images“As a former student-athlete himself, husband to a former college gymnast, and father to two former college football players, Governor Baker is deeply committed to our student-athletes and enhancing their collegiate experience.

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