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Kline was drafted in 2000 by the St. Louis Rams (now the Los Angeles Rams). He was an offensive lineman until 2002, when he left the NFL after sustaining several concussions. The boutique Los Angeles firm focuses almost exclusively on sports dealmaking — though it also works on capital raises and makes its own investments. The firm's website says it has also advised on deals for franchises like the Golden State Warriors, the Miami Heat, the Los Angeles Dodgers, Bologna FC, and the San Francisco Giants. Kline works alongside Sean Clemens and Edwin Draughan, who focus on sports mergers and acquisitions.

Persons: Andrew Kline, Park Lane Andrew Kline, Lane Kline, Kline, Sean Clemens, Edwin Draughan Organizations: St, Louis Rams, Los Angeles Rams, NFL, Athletes ' Agency, Cincinnati Bengals, MLB's Cincinnati Reds, Sports Business, Golden State Warriors, Miami Heat, Los Angeles Dodgers, Bologna FC, San Francisco Giants, NCAA Locations: San Diego, Los Angeles, Angel

☆ There's a real influx of investment and energy in women's sports, says SBJ's Abe Madkour
▼ + stars: | 2024-04-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's a real influx of investment and energy in women's sports, says SBJ's Abe MadkourAbraham Madkour, Sports Business Journal executive editor, joins "Squawk Box' to discuss the NCAA's March Madness tournament, preview of this weekend's Final Four matchups, the surging interest in women's college basketball, what it means for women's sports at large, impact of sports gambling, and more.

Persons: SBJ's Abe Madkour Abraham Madkour Organizations: Sports Business

☆ Insiders break down Amazon's sports strategy and the low-key but powerful exec behind it, as the tech giant eyes NBA rights
▼ + stars: | 2024-03-29 | by ( Lucia Moses | ) www.businessinsider.com time to read: +7 min

One of them is Jay Marine, who oversees Amazon's sports business as VP of Prime Video and global head of sports. Chris Graythen/Getty ImagesMarine's next move could be for the NBA, which Amazon craves for its young, global fan base. Advertisement"For us, everything starts with Prime," Marine told CNBC in a rare interview last fall. AdvertisementApart from its big bet on "TNF," Amazon's sports moves have been largely incremental. The deal lets Diamond continue airing local NBA broadcasts, which makes it more likely Amazon will bid for national NBA rights, analyst Ben Thompson of Stratechery wrote.

Persons: —, Jeff Bezos, Jay Marine, Bezos, Andy Jassy, Chris Webber, Tyrone Wheatley, scrappy, Chris Graythen, Ben Thompson, Stratechery, Marine, Patrick Crakes, it's, Marie Donoghue, Mike Hopkins, Amazon's, John Kosner, Donoghue, Kantar, signups, He's Organizations: Service, Marine, Business, US, Premier League soccer, Industry, The, Sports, WBD, NASCAR, NBC, NBA, Amazon, Disney, Warner Bros, Discovery, Apple, Netflix, CNBC, Amazon MGM Studios, Premier Boxing Champions, Diamond Sports, Diamond, Premier League, WNBA, National Women's Soccer League . Media, ESPN, DraftKings, Warner Bros . Locations: London, The New Jersey, Amazon

☆ An athletic scholarship and NIL deals aren't going to pay for your kid's college tuition. Here are the odds they're up against.
▼ + stars: | 2024-03-23 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +8 min

Many of these student-athletes have full-ride athletic scholarships that cover their tuition and fees, course-related books, and room and board. What's more, landing an athletic scholarship often isn't enough to fully pay for one's college education. While 2% of high-school athletes receive an athletic scholarship, Strasman said only about 1% receive a full-ride scholarship that fully covers expenses like tuition, books, and room and board. While any scholarship money is better than none, there's no guarantee those funds will be there all four years. "I would say likely the kids that have the biggest paydays that we're hearing about are often already on scholarship," Strasman said.

Persons: —, it's, Lisa Strasman, Strasman, Strassman, there's, University of Iowa's Caitlin Clark, Clark, Bill Carter, haven't Organizations: Service, Business, Power, NCAA, University of Iowa's, Sports Business

☆ The state of women's sports: Top executives weigh in on parity, media share and NIL regulations
▼ + stars: | 2024-03-17 | by ( Jessica Golden | ) www.cnbc.com time to read: +12 min

From Caitlin Clark fever in Iowa to a packed house of 92,000 fans for women's volleyball in Nebraska, women's sports have never been more at the forefront. Last year saw record media deals for women's sports as the NCAA and NWSL both inked groundbreaking agreements. David Dow | Getty ImagesCathy Engelbert, commissioner of the Women's National Basketball Association: One of the obstacles is the undervaluation of our assets. Jayna Hefford, senior vice president of operations for the Professional Women's Hockey League: Women's sports still struggle to secure prime broadcast windows, consistent airtime and traditional media coverage. Steven Ferdman | Getty ImagesAmy Howe, FanDuel CEO: Women's sports need to continue to position their star athletes (i.e.

Persons: Caitlin Clark, Matthew Holst, there's, Renie Anderson, Jessica Berman, Jesse Grant, CNBC Jessica Berman, Cathy Engelbert, Breanna Stewart, David Dow, Jessica Gelman, John Lamparski, KAGR, Caitlin Clark's, Jayna Hefford, Haley Rosen, Mollie Marcoux Samaan, Michael Reaves, LPGA we've, Katrina Adams, Louis Armstrong, USTA Billie Jean King, Steven Ryan, Sabrina Ionescu, Coco Gauff, —, Berman, Pamela Duckworth, Engelbert, Magic Johnson, Larry Bird, Michael Jordan, Amy Howe, Steven Ferdman, FanDuel, Ionescu, A'ja Wilson, Rosen, Adams, they've, Renie, Anderson, I'm, influencers, Duckworth, Angel Reese, Billie Jean King, Jayna, Mark Blinch Organizations: Iowa Hawkeyes, NCAA, Michigan Wolverines, Carver, Getty, women's, Deloitte, CNBC, NFL, National Women's Soccer League, National Women's Soccer, WNBA, New York Liberty, Kia, Connecticut Sun, National Basketball Association, Business, New York Marriott Marquis Hotel, MIT Sloan Sports Analytics, MIT Sloan Sports Analytics Conference, Sports, Professional Women's Hockey, Association, Tiburon Golf Club, Professional, LPGA, USTA, Louis, USTA Billie, USTA Billie Jean King National Tennis Center, United States Tennis Association, Women's Tennis, Fubo Studios, FuboTV, NBA, Nike, Wall, Spring Studios, Renie Anderson NFL, Toronto, New York, Mattamy Athletic Centre Locations: Iowa City , Iowa, Iowa, Nebraska, Brooklyn , New York, New, New York City, Naples , Florida, NY, Toronto , Ontario, Canada

☆ Dartmouth's vote to unionize is 'a monumental moment for college athletics', says SBJ's Ben Portnoy
▼ + stars: | 2024-03-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDartmouth's vote to unionize is 'a monumental moment for college athletics', says SBJ's Ben PortnoyBen Portnoy, Sports Business Journal college sports reporter, joins 'Squawk Box' to discuss news of Dartmouth men's basketball team voting to become the first-ever labor union for college athletes, potential ramifications of the unionization, what it means for college athletics going forward, and more.

Persons: SBJ's Ben Portnoy Ben Portnoy Organizations: Sports Business, Dartmouth men's

☆ MLS Season Pass: The world is obsessed with soccer. Can Apple make Americans love it too?
▼ + stars: | 2024-02-24 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +6 min

A centerpiece of that plan is “MLS Season Pass,” a sleekly designed streaming package that ditches the fragmentation other sports suffer from and lets fans stream globally every game — without blackouts — in the Apple TV app. The package costs $14.99 per month or $99 for the season and slightly less ($12.99 per month or $79 for the year) for existing Apple TV+ subscribers. “Once people tuned into the product, they were watching longer than our linear versions in past years,” Camilo Durana, executive vice president of MLS’ Apple partnership, properties and events, told CNN. On Wednesday, Apple released a new Sports app that shows live MLS scores and pushes people to watch them on “MLS Season Pass” on the Apple TV app. That matches a third-party report from analytics firm Antenna showing that “MLS Season Pass” was getting 6,000 new signups a day before Messi arrived but soared to 110,000 signups a day after he signed.

Persons: ” Sacha Kljestan, ” Kljestan, Kevin Egan, Andrew Wiebe, Kaylyn Kyle, Bradley Wright, Phillips, “, ” Camilo Durana, Maddie Meyer, Apple, Lionel Messi, Dre, Durana, Messi, It’s, Santosh Rao, ” Rao Organizations: New, New York CNN — Football, Major League Soccer, Apple, MLS, CNN, NFL, NBC, CBS, FOX, US, TSN, Columbus Crew, Inter Miami, Apple Music, Sports Business, Mobile, Manhattan Venture Partners, doesn’t Locations: New York, Spanish, Canada, Apple’s

☆ Super Bowl’s historic ratings show that the NFL is at the apex of its powers
▼ + stars: | 2024-02-13 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

That ratings figure was up 7% from last year’s Big Game, which previously held the title for the most-watched Super Bowl of all-time. 120 million viewers watched the sporting event on CBS, the largest audience ever for a single network, the company said. The record-breaking Super Bowl capped a strong season for the NFL, with the NFC championship game on Fox averaging 56 million viewers and the AFC championship game averaging 55 million on CBS. The epic conclusion to an already epic season proved that the NFL is at the apex of its powers. No other event rivals the star power the Super Bowl draws.

Persons: “, ”, Austin Karp, ” Karp, Taylor Swift, Elon Musk, Gavin Newsom, Jay, Tim Cook, LeBron James, Jimmy Kimmel, Lady Gaga, Justin Bieber, Paul Rudd, Martha Stewart, Mark Wahlberg, Kendall Jenner, Shaquille O’Neal, Sean McManus, John Ourand Organizations: New York CNN, National Football League, peerless, NFL, CBS, Kansas City Chiefs, San Francisco 49ers, NFC, Fox, AFC, Sports Business, NBA, MLB, Pew Research Center, Super Bowl, CBS Sports Locations: New York, Las Vegas, U.S, Las, America

☆ Congressman demands the NFL stop putting playoff games on streaming services like NBC's Peacock: Fans don't deserve 'to be squeezed even further by greedy corporations'
▼ + stars: | 2024-01-12 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +5 min

"It is absolutely ridiculous that my constituents, who already pay for NBC, have to pay even more to watch this game," Ryan wrote in a letter to top NFL and NBC officials. I'm demanding the NFL and NBC stop the BS and offer fans the service they already pay for, or we're coming for your antitrust exemption." "Fans already face exorbitant prices to watch every game during the regular season; they don't deserve to be squeezed even further by greedy corporations," Ryan added. The league added that all the remaining playoff games would be available over the air nationwide, as well as on other platforms. NBC Sports reportedly pays the league more than $2 billion a year for its slice of NFL games.

Persons: —, Pat Ryan, Ryan, Roger Goodell, Goodell, cciqwvZDoE —, @RepPatRyanNY, Rick Cordella, Patrick Mahomes, Hill, Alex Riethmiller, Sportico Organizations: Service, New, New York Democrat, NFL, NBC Sports, NBC, Business, Dolphins, Chiefs, Kansas City Chiefs, Super Bowl, Miami Dolphins, Kansas City, ESPN, Sports Business, MLB, NBA, NHL Locations: New York, Kansas City, Kansas, Miami

☆ NFL offers buyouts to more than 200 employees
▼ + stars: | 2024-01-09 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

The National Football League offered voluntary buyouts to at least 200 employees as it gears up for start of the playoffs this coming weekend, according to a memo obtained by CNBC. The NFL, which has about 1,100 employees, told staff that it is "continuously evaluating ways to enhance efficiency and improve outcomes," according to the memo. The buyouts come when the league has shown financial strength, with revenue in 2022 hitting nearly $12 billion. It wasn't immediately clear how many buyouts the NFL is aiming for. The league offered eligible employees three weeks salary for every year served, in addition to bonuses.

Persons: Roger Goodell, hasn't Organizations: National Football League, CNBC, NFL, Washington, NFL Network, Sports Business

☆ The NBA In-Season Tournament is confusing people. Ratings are still through the roof
▼ + stars: | 2023-11-30 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

The NBA In-Season Tournament, running this year for the first time, is the league’s idea for that mid-season boost. The media rights to NBA games are up after the 2024-2025 season, and the tournament could make the NBA’s television rights more lucrative to potential networks and streaming bidders. To add intrigue to the tournament, each of the 30 NBA teams has a distinct court design and jersey for games. The NBA’s strategy behind the colorful court designs was to attract attention — even if some of the reaction to the courts has been negative. The NBA in-season tournament is the latest example of sports leagues adapting to try to add excitment in an increasingly competitive media environment.

Persons: Jeff Haynes, NBAE, ”, Jacinda Ortiz, Mark Cuban Organizations: New, New York CNN, Chicago Bulls, New Orleans Pelicans, NBA, NFL, United Center, Games, ESPN, TNT, Sports Business, CNN, Warner Bros ., ” Dallas Mavericks, Mavericks, MLB, Nickelodeon Locations: New York, Chicago, Las Vegas, Europe

NASHVILLE, Tenn, (AP) — NASCAR has added two new partners and streaming elements to a seven-year media rights deal announced Wednesday that will run from 2025 through the 2031 season. The new media rights deal is worth $7.7 billion when the previously announced $1.1 billion agreement with CW is included, according to Sports Business Journal. The Cup Series will include existing partners Fox Sports and NBC, which will feature a mix of broadcast and cable events. After the Fox portion of the Cup Series, the next five Cup races will be on Amazon Prime Video. Discovery and Amazon also both obtained exclusive rights to practice and qualifying sessions for the entire Cup Series schedule through 2031.

Persons: SBJ, Steve Phelps, “, Phelps, Fox, ”, Luis Silberwasser, Max, we’ve, ” Phelps Organizations: NASCAR, CW, Sports Business, Music City Center, Fox Sports, NBC, Fox, USA Network, Warner Bros ., Amazon Prime, Warner Bros, TNT, Max, Discovery Sports, NBC Sports, Busch, FOX Sports Locations: Tenn, FS1

Thoughts and prayers for the players who only kept full PGA Tour cards without guaranteed access to the signature events. And now the signature events will have $20 million purses (same as LIV) with $4 million to the winner (same as LIV). “How many golf fans actually know what the PIP on the PGA Tour is?” he wrote on Instagram, posting the results for all to see. “There’s 150-200 members of the PGA Tour and they just spent $100 million on 20 players. Lashley wasn’t criticizing the PGA Tour on behalf of everyone, but he’s not a lone voice.

Persons: won’t, Jay Monahan, LIV Golf, LIV, Barbara Nicklaus, Nate Lashley, Rory McIlroy, Tiger Woods, pipping, Woods, McIlroy, Jon Rahm, Jordan Spieth, Scottie Scheffler, “, ”, Wyndham Clark, Clark, Lashley, Scheffler, Cameron Smith, Lashley wasn’t, he’s, Emiliano Grillo, ” Grillo, you’re, We’ve, Lanto Griffin, ” Griffin, Golfweek, I’ve, It’s, it's, ___ Organizations: Players, FedEx, Saudi, Sports Business, Lashley, PGA, PGA Tour, Wells, U.S ., Ryder, He's, Colonial, Torrey Pines Locations: Rome, Bahamas

☆ Knicks sign jersey patch deal with owner James Dolan's Sphere Entertainment
▼ + stars: | 2023-10-24 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

The National Basketball Association's New York Knicks are keeping it in the family for their next jersey patch sponsor. Madison Square Garden Sports announced Tuesday that Sphere Entertainment will become the NBA team's official jersey patch partner for the 2023-24 season. Terms of the jersey patch deal were not disclosed. The NBA's jersey patch sponsor program kicked off during the 2017-18 season and has been an important source of revenue for many clubs. Dolan reportedly was shopping around the jersey patch rights for $30 million, according to SBJ.

Persons: James Dolan, David Hopkinson, Micky Arison, Squarespace, Andrew Lustgarten, Dolan, SBJ, Patrick Rishe, Louis, Bob Dorfman Organizations: Association's New York Knicks, Madison, Garden Sports, NBA, Knicks, Boston Celtics, Garden, MSG Sports, Golden State Warriors, Brooklyn Nets, Los Angeles Lakers, Miami Heat, Carnival Cruise, Sports Business, Washington University, Pinnacle Advertising, CNBC Locations: Madison, Las Vegas, St

☆ Formula 1 could be coming to Apple as it mulls offering up to $2 billion a year to show races, report says
▼ + stars: | 2023-10-01 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Apple is interested in the exclusive global rights for Formula 1 races, Business F1 reported. The iPhone maker could offer up to $2 billion a year for the rights, per the report. AdvertisementAdvertisementApple is reportedly considering making a bid of up to $2 billion a year for the rights to show Formula 1 races, according to a report by Business F1. Formula 1 Group declined to comment to Business F1 and didn't immediately respond to a request for comment from Insider. CHANDAN KHANNA/Getty ImagesAn MLS Season Pass costs $14.99 a month or $29 a season, while Apple TV+ subscribers pay $12.99 a month or $25 a season.

Persons: —, Tim Cook, JIM WATSON, Lionel Messi, CHANDAN KHANNA, Apple wouldn't Organizations: Apple, Business, Major League Soccer, Service, Prix, Liberty Media, Sirius XM, MLS, Inter Miami, Wall Street, ESPN, ABC, Forbes, Sky, Revenue, Parks Associates, Amazon, Football, Sports Media Watch Locations: Austin , Texas

☆ Lionel Messi is making transition to US look easy as he scores twice for Inter Miami against Atlanta United in Leagues Cup
▼ + stars: | 2023-07-26 | by ( Matt Foster | ) edition.cnn.com time to read: +4 min

On Tuesday, Messi powered his Inter Miami team to a dominant 4-0 victory over Atlanta United in the Leagues Cup, scoring twice and assisting another in his first start for his new team. Messi celebrates with his teammates after scoring against Atlanta United. Lionel Messi scores his second goal for Inter Miami against Atlanta United. The Leagues Cup, an annual tournament between MLS and Mexico’s Liga MX, was expanded this year to include all teams in each league. The Leagues Cup round-of-32 takes place between August 2 and August 4.

Persons: Lionel Messi, Messi, Cruz, Megan Briggs, Sergio Busquets ’, Messi slickly, David Beckham, Robert Taylor, Finn, Taylor’s unselfishness, Ballon, Taylor, Sam Navarro, Thiago Almada –, Drake Callender, Almada, Messi –, Busquets, Phil Neville, Tata Martino, Cruz Azul, ” Organizations: CNN, Inter Miami, Atlanta United, Leagues, Cruz Azul, Messi, Argentine, Atlanta, USA, Network, Reuters, Poland, Inter Miami’s, MLS, Liga, Eastern Conference, DC United, Apple TV, Sports Business Locations: Florida, Miami, Fort Lauderdale, Argentine

☆ Want an authentic Lionel Messi Inter Miami kit? You’ll have to wait until October
▼ + stars: | 2023-07-25 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —It’s easy to watch Lionel Messi play in the United States, but dressing like him is a bit more difficult. Fans hoping to purchase an authentic Inter Miami jersey featuring its newest star’s name will have to wait until mid-October (notably, that’s when the Major League Soccer season ends). Shortly after Messi announced his intention of coming to the US in June, online retailer Soccer.com said that it sold six months’ worth of generic Inter Miami jerseys in one day, and they’re still sold out. Messi maniaMessi’s first appearance with Inter Miami ended with him scoring the game-winning goal in extra time. His signing is also expected to be a boon for Apple’s nascent streaming package, MLS Season Pass.

Persons: New York CNN —, Lionel Messi, “, Messi, Soccer.com, they’re, Nathan Ray Seebeck, ” Billy Lalor, won’t, Lalor, ” It’s, Messi’s, ” Messi’s Organizations: New, New York CNN, Inter Miami, Major League Soccer, Adidas, MLS, Florida, USA, Sports, Reuters, CNN, Messi, FIFA, Apple TV, Sports Business, Atlanta United, Inter Miami’s Locations: New York, United States, Argentina

☆ The impact of Saudi Arabia's investments in sports
▼ + stars: | 2023-06-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe impact of Saudi Arabia's investments in sportsAbe Madkour, Sports Business Journal Executive Editor, joins 'Last Call' to talk Saudi investments in sports and its global impact.

Persons: Abe Madkour Organizations: Sports Business Locations: Saudi

☆ Jalen Hurts' $255 million contract sets an NFL record—and he got it with an all-women management team
▼ + stars: | 2023-04-17 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Of course, Hurts' strong performance over the past two seasons contributed to his landing the biggest contract in NFL history. But it also came down to his management team. Hurts is managed by an all-women management team from the sports agency Klutch Sports Group. And that's how I am on the field and off the field," Hurts told Sports Illustrated in August 2022. Lynn and the management team have continued breaking convention and setting records with this new deal.

☆ A lot of money is on the line for women's pro soccer in the U.S.
▼ + stars: | 2023-03-21 | by ( Jessica Golden | ) www.cnbc.com time to read: +9 min

Restore faith in women's soccer and grow the business. The league averaged 37 sponsorship deals per team, which is more than any other women's sport, according to sports data and intelligence platform Sponsor United. Women's pro soccer valuations are also soaring. NWSL commissioner Jessica Berman speaks during the 2023 NWSL Draft at the Pennsylvania Convention Center on January 12, 2023 in Philadelphia, Pennsylvania. Culture changeOL Reign forward Megan Rapinoe (15) scores on a penalty kick during the second half of the National Womens Soccer League game between NJ/NY Gotham FC and OL Reign on September 21, 2022 at Red Bull Arena in Harrison, New Jersey.

☆ Warner Bros. Discovery plans to stop broadcasting regional sports as financial troubles grow across industry, reports say
▼ + stars: | 2023-02-25 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +4 min

AT&T Sportsnet channels owned by Warner Bros. The channels in question are still branded as AT&T Sportsnet after WarnerMedia's assets, previously owned by AT&T, were acquired by Warner Bros. Warner Bros. The Sports Business Journal also reported that the network told teams it will allow them to continue using Warner Bros. Warner Bros.

☆ Amazon 'Thursday Night Football' audiences fell short of estimates by 25%, and the tech giant is scrambling to make it up to advertisers
▼ + stars: | 2023-01-10 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Amazon is working to make advertisers whole after "Thursday Night Football" audiences fell short. Amazon has been scrambling to make advertisers whole for its "Thursday Night Football" broadcasts on Prime Video after audiences fell short of estimates, according to ad agency sources. For the 14-game season, "TNF" on Prime Video averaged 9.6 million viewers, according to Nielsen data shared by Amazon Monday. "TNF" viewership on Prime Video had a median age of 47, according to Amazon — 7 years younger than the NFL average on linear TV. But advertisers are likely to give Amazon a pass overall, given this was the first season for a streaming-only "TNF."

☆ Fanatics valuation hits $31 billion after $700 million investment round
▼ + stars: | 2022-12-06 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Michael Rubin's sports platform company Fanatics has raised $700 million in fresh capital, pushing its value to $31 billion, according to people familiar with the matter. In March, the company raised $1.5 billion led by Fidelity and Blackrock and Michael Dell's MSD Partners. This summer, Fanatics ventured deeper into collegiate sports, signing a long-term deal with Nike to manufacture college sports fan apparel. Rubin now has his eyes on the sports gaming market. Revenue for Fanatics, including its Lids segment, will be approximately $8 billion in 2023, according to company estimates.

The remarks go against expectations in the gaming industry that FanDuel will cede some of its dominance as new players work to grab a bigger share of the sports betting market. Rubin predicts sports betting and Fanatics' other business segments "could be $8 billion, even in the next decade, in profits." And FanDuel boasts a 42% market share, based on published reports by state gaming regulators. Of the 59 sports betting operators in the U.S. in October, only three had double-digit market share. "Almost 90% of the operators have a sub-2% share of the market," Howe said.

The sports platform and e-commerce company, which has been valued at more than $27 billion, said Tuesday it hired Andrea Ellis to be the chief financial officer of its betting and gaming division. Fanatics CEO Michael Rubin said last week the company expects to launch the unit in January. At Fanatics, she will be tasked with scaling the new division and providing strategic and operational leadership, the company said. She'll report to Matt King, Fanatics Betting and Gaming CEO, who previously was CEO at FanDuel. Rubin predicts sports betting and Fanatics' other business segments "could be $8 billion, even in the next decade, in profits."

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