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Valuations show no signs of cooling off with billionaires and private equity firms in bidding wars. Bankers to the rich told Insider which sports are drawing moneyed clients. Now rich individuals have to compete with institutional investors like private equity firms and sovereign wealth funds for a limited number of teams. As a result, aspiring team owners have gotten more creative to seal the deal. "It's never going to be a private equity type of model where these assets will be exited every five years," he told Insider.
Persons: Ryan Reynolds, Rob McElhenney, LeBron James, Milwaukee Bucks Marc Lasry, Brian Kantarian, Josh Harris, Kantarian, Ivo Voynov, It's, Gerry Cardinale, Voynov Organizations: Bankers, Sports, NBA, Wrexham AFC, Milwaukee Bucks, NFL, Citi Private Bank, Europe's Big Five, XFL, JPMorgan Locations: Washington, Europe, Plenty, Wall
Silicon Valley Bank's implosion spotlighted the federal deposit insurance limit of $250,000. The cap led NBA star Giannis Antetokounmpo to open multiple bank accounts to protect his fortune. Billionaire investor Marc Lasry told the player to invest in US Treasuries and other assets instead. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. When Giannis Antetokounmpo first learned of the limit, he opened half a dozen bank accounts to protect his fortune.
Persons: Giannis Antetokounmpo, Marc Lasry, Antetokounmpo, Giannis, Lasry, Lionel Messi, LeBron James, Tom Brady, John Koudounis, Bill Ackman, Mark Cuban Organizations: NBA, Service, Bloomberg, Milwaukee Bucks, Bloomberg Wealth Summit, JPMorgan, Forbes, Deposit Insurance Corp, Signature Bank Locations: Wall, Silicon, Greece
Mitchell & Ness, the lifestyle clothing brand known for its throwback and vintage jerseys and apparel that was acquired by Fanatics last year, has hired Nike executive Eli Kumekpor as its new CEO. Kumekpor, who most recently served as the global vice president and general manager of Jordan Brand's men's business, will replace former CEO Kevin Wulff, who joined Fanatics when Mitchell & Ness was acquired and is now retiring. Established in 1904 in Philadelphia, Mitchell & Ness makes and sells vintage jerseys and apparel collections for nearly every major sports league. "How do you take the old and make it new and fresh again," he said, referencing some of the things that Jordan Brand has done around its extensive catalog of beloved sneakers. "Nostalgia means a lot of different things to different consumer groups, so we want to make sure we're keeping the brand premium."
Persons: Ness, Eli Kumekpor, Kumekpor, Jordan Brand's, Kevin Wulff, Mitchell, Jay, Lebron James, Kevin Hart, Kevin Durant, Michael Rubin, Jordan Brand Organizations: Nike, CNBC, Mitchell, NHL, MLB, AstraZeneca, Technologies Locations: Philadelphia, Mitchell
Mandatory Credit: Gary A. Vasquez-USA TODAY Sports/File Photo Acquire Licensing RightsAug 26 (Reuters) - Bronny James, the teenage son of NBA great LeBron James, is expected to return to basketball "in the very near future" after he suffered a cardiac arrest last month, ESPN reported on Friday, citing a statement from a family spokesperson. The 18-year-old went into cardiac arrest on July 24 while training with the University of Southern California (USC) basketball team. Follow-up evaluations have revealed that the probable cause of James' cardiac arrest was a congenital heart defect, according to the statement, ESPN reported. "We are very confident in Bronny's full recovery and return to basketball in the very near future." Bronny James was the second USC player to go into cardiac arrest in the last year.
Persons: Bronny James, Gary A, Vasquez, LeBron James, James, Vince Iwuchukwu, Hritika Sharma, Robert Birsel Organizations: Los Angeles Lakers, Golden State Warriors, Crypto.com, NBA, ESPN, University of Southern, USC, Thomson Locations: Los Angeles , California, USA, University of Southern California, Hyderabad
Marco Bello | ReutersSince joining, Inter Miami rose to the highest-selling MLS team for tickets from the 13th spot on StubHub. The average ticket price for Inter Miami on StubHub is $161, nearly 64% higher than the league average. The overall average MLS ticket price is up to $98, while the average ticket price for the Leagues Cup overall was $152. Yes, what we're seeing in pricing for the MLS for Messi games is unprecedented. "Those average ticket prices were still three times what we're seeing for Messi games so far this year," Budelli said.
Persons: Lionel Messi, Logan Riely, Messi, it's, Camilo Durana, Lee Berke, David Beckham, Wayne Rooney, Thierry Henry, Neymar, Cristiano Ronaldo, Karim Benzema, Germain, , Leo Messi, Marco Bello, he's, Durana, Marc de Grandpré, that's, Adam Budelli, Tom Brady –, StubHub, Lebron James, Budelli, Berke, Tom Brady, Adam Glanzman Organizations: FC Dallas, Toyota, Major League Soccer's Inter Miami CF, MLS, NFL, NBA, Public Investment Fund, French, Paris Saint, FC Barcelona, Inter Miami, Reuters, Messi, Apple, North, Liga MX, U.S, Leagues, Saturday, Red Bulls, New York Red Bulls, NFL Sunday, Tampa Bay, Disney, ESPN, ABC, Tampa Bay Buccaneers, New England Patriots, Gillette, Getty Locations: Frisco , Texas, U.S, Saudi Arabia, Argentine, Fort Lauderdale , Florida, Harrison , New Jersey, Manhattan, StubHub, Foxborough , Massachusetts
CNN —A group of investors is suing Sotheby’s Holdings Inc. and others over a 2021 auction and promotion of Bored Ape Yacht Club non-fungible tokens (NFTs) following a collapse in prices for the celebrity-endorsed collectibles. Sotheby’s is among 30 defendants named in the lawsuit, with celebrities like Justin Bieber and Paris Hilton also accused of promoting the NFT collection without disclosing their financial links to it. A spokesperson for Yuga Labs meanwhile said, via email: “We believe that these new allegations, like those in the previous iteration of this opportunistic complaint, are completely without merit or factual basis. “As a media and technology company, Yuga Labs has empowered strong communities of enthusiasts and entrepreneurs to innovate, connect, and build. The Bored Ape Yacht Club, a collection of 10,000 NFTs hosted on the Ethereum blockchain, launched in April 2021.
Persons: Yuga, Justin Bieber, Paris Hilton, Sotheby’s, NFTs, , Jack Dorsey’s, LeBron James, “ Beeple, , ” —, MoonPay Organizations: CNN, Sotheby’s Holdings Inc, Paris Hilton, Labs, Yuga Labs, Twitter, Adidas, Securities and Exchange Commission Locations: California, freefall
Brady joins the likes of Jordan Spieth, JJ Watt, and LeBron James by buying into English football. Former NFL star Watt bought a minority stake in Burnley FC, in May. Now, legendary quarterback Brady has unveiled a minority stake in Birmingham City. The rise of across-the-pond partnerships raises a question: what is it about British clubs that has suddenly captured celebrities' imagination? The rewards for success in the English Premier League can be astronomical.
Persons: Tom Brady, Brady, Jordan Spieth, JJ Watt, LeBron James, Watt, Spieth, Michael B Jordan, Ryan Reynolds, Rob McElhenney's, Simon Chadwick, Reynolds, Ralph Lauren –, Christina Philippou, we've, Philippou, it's, Chadwick, That's, We've, they're, there's Organizations: Service, NFL, Burnley FC, Leeds United, Liverpool FC, Fenway Sports Group, AFC Bournemouth, Disney, Birmingham, Knighthead Capital Management, Wrexham, L'Oreal, English Premier League, Sky, BT, Amazon Prime, Premier League, Manchester City, Portsmouth University, Wrexham AFC, Premier League –, European Locations: Birmingham City, Wall, Silicon, British, Wrexham, Birmingham, United States
A viral image showing basketball star LeBron James in a pink outfit was created with AI-based tool Midjourney. While some users were able to discern the image was created with artificial intelligence (AI), others did not. “LeBron James setting a bad example for our Lil boys and money ain't everything,” said one post (bit.ly/3Qi247r). Reuters traced the image of James to Midjourney's Discord, on a channel called “#Newbies-185” (ibb.co/cyDNLb7). Representatives for Midjourney and James did not immediately respond to requests for comment.
Persons: LeBron James, , , Midjourney, James, lebron james, Gucci, James ’, Read Organizations: Facebook, Los Angeles Lakers, Lil, Reuters, Midjourney
[1/2] Sierra Canyon Trailblazers point guard Bronny James looks on during warm up for the Battle of the Valley against the Notre Dame Knights played at Pauley Pavilion in Los Angeles, California, U.S. January 27, 2023. Jayne Kamin-Oncea-USA TODAY Sports via REUTERS/File PhotoLOS ANGELES, July 29 (Reuters) - Bronny James, who less than a week ago suffered cardiac arrest while training with the University of Southern California (USC) basketball team, was seen playing piano in a video posted by his father LeBron James on Saturday. LeBron James said in a video posted to Instagram. Doctors offered no word of if or when Bronny James would return to the basketball court but indicated his recovery so far has been encouraging. Reporting by Rory Carroll in Los Angeles; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.
Persons: Bronny James, Jayne Kamin, LeBron James, James, Vince Iwuchukwu, Iwuchukwu, Damar Hamlin, Hamlin, Doctors, Rory Carroll, Lincoln Organizations: Notre Dame Knights, Pauley, Sports, REUTERS, University of Southern, USC, Sinai Medical, Los Angeles Lakers, NBA, Buffalo Bills, Thomson Locations: Los Angeles , California, U.S, University of Southern California, Cedars, Cincinnati, Los Angeles
CNN —NBA star LeBron James shared a video Saturday on Instagram of his son Bronny playing piano after the young athlete’s cardiac arrest this week. LeBron James wrote in the video’s caption, “Grand rising! We’re here right with you every step of the way!” LeBron James wrote on Instagram. Everyone doing great,” the Lakers star wrote. #JamesGang.”A source familiar with the matter said Bronny James underwent a cardiac screening several months prior for prospective NBA athletes.
Persons: LeBron James, Bronny, , , Bronny James Organizations: CNN, NBA, University of Southern California’s, Sinai Medical Center, Lakers Locations: Los Angeles
LeBron James thanks fans for love after son's cardiac arrest
  + stars: | 2023-07-27 | by ( ) www.reuters.com   time to read: +2 min
Jayne Kamin-Oncea-USA TODAY Sports via REUTERS/File Photo MANDATORY CREDITJuly 27 (Reuters) - LeBron James thanked fans on Thursday for their love and prayers for his son Bronny, who suffered a cardiac arrest while training with the University of Southern California (USC) basketball team. The 18-year-old son of the NBA's all-time leading scorer went into cardiac arrest on Monday and was rushed to hospital where he was placed in intensive care. "I want to thank the countless people sending my family love and prayers," posted James on messaging platform X, formerly known as Twitter. Iwuchukwu was revived by team's medical staff and played last season after recovering. It is also reminiscent of an incident in January, when Buffalo Bills safety Damar Hamlin collapsed from a cardiac arrest during a Monday night NFL game in Cincinnati.
Persons: Bronny James, Jayne Kamin, LeBron James, Bronny, James, Vince Iwuchukwu, Iwuchukwu, Damar Hamlin, Hamlin, Steve Keating, Christian Radnedge Organizations: Notre Dame Knights, Pauley, Sports, REUTERS, University of Southern, USC, Angeles Fire Department, Galen Center, Los Angeles Lakers, NBA, Buffalo Bills, Thomson Locations: Los Angeles , California, U.S, University of Southern California, Cincinnati, Toronto
Three days after LeBron James Jr. collapsed during a basketball practice, a cardiologist at Cedars-Sinai Medical Center in Los Angeles said on Thursday that he “has been discharged home, where he is resting.” His father, LeBron James, said on social media that his family was “together, safe and healthy.”And in a signal of the family’s optimism and relief, LeBron was back in the gym on Thursday, working out with another young basketball star. The younger James, known as Bronny, who was recruited to join the U.S.C. basketball team in the fall, suffered cardiac arrest on Monday while working out at the university’s Galen Center. He was treated in intensive care initially and had been at Cedars-Sinai since Monday.
Persons: LeBron James Jr, , , LeBron James, LeBron, James Organizations: Sinai Medical Center, Galen Locations: Los Angeles, Sinai
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Persons: Dow Jones, 139c0663
One of the sport's biggest boosters is Steve Kuhn, a former hedge fund manager who founded Major League Pickleball. "I think there was a time when pickleball was considered a sport that was not really a sport. The billionaire, who lives in Austin, has gotten the pro league off the ground by growing the business with sponsorships, media deals and expansion teams. Major League Pickleball teams today are going for as much as $10 million. Professional Pickleball can be seen on almost every major television network and many streamers.
Persons: pickleball, Steve Kuhn, Kuhn, Kevin Durant, Lebron James, Tom Brady Organizations: League Pickleball, America, Major League Pickleball Locations: Austin
LeBron James Jr., the son of the Los Angeles Lakers star LeBron James who is an incoming freshman at the University of Southern California, collapsed at practice on Monday after suffering a cardiac arrest. James Jr., who is known as Bronny, was hospitalized in the intensive care unit but later released from the I.C.U. and is in stable condition, according to a statement from a spokesman for LeBron James and his wife, Savannah. men’s basketball team in Los Angeles when he suffered a cardiac arrest. According to the James family’s statement, medical staff treated Bronny James, and he was taken to the hospital.
Persons: LeBron James Jr, LeBron James, James Jr, Bronny James, James, LeBron Organizations: Los Angeles Lakers, University of Southern, Los Angeles Fire Department, Galen Center Locations: University of Southern California, Savannah, Los Angeles
It’s a proposed deal which reportedly includes a staggering $775 million salary packet for the 24-year-old Mbappé. News of the offer spread through social media on Monday and caught the attention of the NBA’s biggest stars. Milwaukee Bucks star Giannis Antetokounmpo posted a picture of himself to Twitter, with the caption: “Al Hilal you can take me. It’s a figure dwarfed by the earnings that Mbappé would reportedly receive for one season at Al Hilal. CNN has reached out to PSG, Al Hilal and Mbappé’s representatives for comment.
Persons: Saint Germain, Al Hilal, It’s, Giannis Antetokounmpo, “ Al Hilal, ” Al Hilal, e nch ca, Organizations: CNN, PSG, Saudi, Milwaukee Bucks, Twitter Locations: Paris, Saudi Arabian, Al
LeBron James Jr., the son of the N.B.A. star LeBron James, suffered a cardiac arrest while practicing at the University of Southern California in Los Angeles on Monday and was taken to the hospital for treatment in the intensive care unit, according to a statement from a spokesman for LeBron James and his wife, Savannah. The younger James, known as Bronny, is now in stable condition and no longer in the I.C.U., the statement said. “LeBron and Savannah wish to publicly send their deepest thanks and appreciation to the U.S.C. He is the eldest of the Lakers star LeBron James’s three children.
Persons: LeBron James Jr, LeBron James, James, LeBron, Bronny James, LeBron James’s Organizations: University of Southern, Los Angeles Fire Department, Street, Galen Center, U.S.C, Lakers, Ohio State Locations: University of Southern California, Los Angeles, Savannah, Oregon
CNN —Bronny James, the son of NBA star LeBron James, suffered a cardiac arrest during basketball practice at the University of Southern California and was hospitalized on Monday, according to a statement from a family spokesperson. “Yesterday while practicing Bronny James suffered a cardiac arrest. LeBron James, left, poses with his son Bronny after Sierra Canyon beat Akron St. Vincent - St. Mary in a high school basketball game on December 14, 2019, in Columbus, Ohio. “My last year will be played with my son,” James told the Athletic in 2022. Last July, USC freshman forward Vince Iwuchukwu suffered a cardiac arrest during a summer workout.
Persons: CNN — Bronny James, LeBron James, Bronny James, , James, LeBron, ” Bronny, Bronny, Vincent, St, Mary, Jay LaPrete, ” James, It’s, Vince Iwuchukwu, Iwuchukwu, Jon Yonamine, Erin Tillman, Lauren Crawford, Andy Enfield, , Damar Hamlin, ” Hamlin Organizations: CNN, NBA, University of Southern, USC, USC’s, Sierra Canyon High School, Sierra Canyon, Akron St, Los Angeles Lakers, Athletic, American Heart Association ., Buffalo Bills, Twitter Locations: University of Southern California, Savannah, Los Angeles, Sierra, Columbus , Ohio, that’s
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMajor League Pickleball Founder on the roots of the fastest-growing sport in AmericaMajor League Pickleball Founder Steve Kuhn discusses how pickleball got its start, how celebrities like Lebron James boosted its 'cool' factor and how he hopes to bring 'the Benjamin Button of sports' to more kids in U.S. schools.
Persons: Steve Kuhn, pickleball, Lebron James, Benjamin Button Organizations: Pickleball, America Major League
[1/4] Mar 28, 2023; Houston, TX, USA; West guard Bronny James (6) with father LeBron James following the McDonald's All American Boy's high school basketball game at Toyota Center. Mandatory Credit: Mark J. Rebilas-USA TODAY Sports/File PhotoJuly 25 (Reuters) - The 18-year-old son of NBA legend LeBron James suffered a cardiac arrest while practicing with the University of Southern California (USC) basketball team and was in stable condition, ESPN reported on Tuesday, citing a James family statement. The family spokesperson could not be immediately reached for comment, nor could LeBron James' agent. "We ask for respect and privacy for the James family and we will update media when there is more information," the statement said, according to ESPN. The incident comes a year after USC center Vince Iwuchukwu collapsed during practice after suffering heart failure.
Persons: Bronny James, LeBron James, Mark J, James, Vince Iwuchukwu, Iwuchukwu, Damar Hamlin, Hamlin, Brendan O'Brien, Bill Berkrot Organizations: Toyota Center, NBA, University of Southern, USC, ESPN, Los Angeles Fire Department, Galen Center, Los Angeles Lakers, Buffalo Bills, Thomson Locations: Houston , TX, USA, University of Southern California, Cincinnati, Chicago
CNN —LeBron James and Serena Williams have become accustomed to tens of thousands of fans screaming their names whenever they enter a sporting arena. But in a complete role reversal, James and Williams became the adoring fans witnessing sporting greatness on Friday. David Beckham, Victoria Beckham and daughter Harper Beckham look on as Messi plays in his first Inter Miami game. mpi04/MediaPunch /IPX/AP“I’m happy to be here with Victoria and David and everyone, it’s going to be such a fun game,” Kardashian told broadcaster Apple TV before the match started. He’s so excited to see Messi,” Kardashian responded.
Persons: LeBron James, Serena Williams, James, Williams, Lionel Messi, Kim Kardashian, David Beckham, Victoria Beckham, Harper Beckham, Messi, David, ” Kardashian, Saint, Kardashian, , He’s, ” James, Sergio Busquets, Ballon, Cruz, Marco Bello, Reuters Beckham, videoed, Leo, Sergio, , Patrick Mahomes Organizations: CNN, Inter Miami, Apple, Argentine, FC Barcelona, Cruz Azul, Reuters, ” Inter Miami, Kansas City Chiefs Locations: Fort Lauderdale , Florida, Victoria, American
Opinion: Messi mania meets USWNT three-peat fever
  + stars: | 2023-07-22 | by ( Opinion Amy Bass | ) edition.cnn.com   time to read: +7 min
On the other side of the world in Auckland, the USWNT took down World Cup newcomer Vietnam 3-0. It was nonsense to worry about what to watch or whether Messi would upstage the women. MLS chief Don Garber, for one, says he’s not worried about the impact Saudi money could have on the ability of the MLS to expand into markets outside the US, especially as it failed to win Messi. Friday may have been the first time in his life that Messi was someone else’s opening act. The USWNT did what was expected, beating a lesser team in Vietnam, but they also have a lot of work in front of them.
Persons: Amy Bass, Read, Lionel Messi, Amy Bass Rodney Bedsole, Cruz Azul, Messi, Pelé, David Beckham, Cristiano Ronaldo’s, Al Nassr, LIV, Don Garber, he’s, Messi subbed, ” Garber, , , Inter Miami’s, King ” LeBron James, Sophia Smith, , Trinity Rodman, Rodman, Tran Thi, Alex Morgan, Tran Thị Kim Thanh, Captain Lindsey Horan, Megan Rapinoe, David, anyone’s, Brenda Elsey, England, Sam Kerr Organizations: Manhattanville College, CNN, Major League Soccer’s Inter Miami, US, National, Cruz, Leagues, Vietnam, National American Soccer League’s New York Cosmos, Inter Miami, Messi, LA Galaxy, MLS, Saudi Pro, Major League Soccer, Inter, Trinity, Colombian, Twitter, Facebook, Canada, Haiti Locations: Florida, New Zealand, Fort Lauderdale, Auckland, American, Miami, Inter Miami, Vietnam, Haiti, Philippines, Zambia, Germany, Morocco, Qatar, Nigeria
Messi scores stoppage-time winner in Inter Miami debut
  + stars: | 2023-07-22 | by ( Frank Pingue | ) www.reuters.com   time to read: +4 min
July 21 (Reuters) - Lionel Messi made a rousing debut for Major League Soccer's Inter Miami as he scored a stoppage-time winner to beat Liga MX's Cruz Azul 2-1 on Friday in their Leagues Cup opener in Fort Lauderdale, Florida. After the goal, Messi ran toward the right corner of the field with his arms spread wide and then headed to the sidelines on the other side where he shared a hug with his family. But Messi, seven months removed from leading Argentina to World Cup glory in Qatar, got his chance to shine once again. "As soon as I saw the free kick given I thought this is the way it's meant to end," said Inter Miami co-owner David Beckham. Messi's Miami debut coincidentally came 16 years to the day after Beckham played his first game for MLS side LA Galaxy.
Persons: Lionel Messi, Liga MX's Cruz, Messi, it's, LeBron James, Serena Williams, Kim Kardashian, Ballon, Cruz, Martinez, David Beckham, Leo, Beckham, Frank Pingue, Stephen Coates Organizations: Major League Soccer's Inter Miami, Liga MX's, Leagues Cup, NBA, Miami, Cruz Azul, Inter Miami, MLS, LA Galaxy, Atlanta United, Liga, Thomson Locations: Fort Lauderdale , Florida, Cruz Azul, Argentine, Argentina, Qatar, South Florida, Miami, United States, Mexico, Canada, Toronto
Conflict is brewing in the Cincinnati Reds clubhouse this season, veteran first baseman Joey Votto says. He has spent the season arguing in the clubhouse that Michael Jordan was the greatest NBA player ever. His exciting new teammates, who weren’t even alive to see Jordan in his prime, say there’s no competition: LeBron James is the greatest.
Persons: Joey Votto, Michael Jordan, weren’t, Jordan, LeBron James Organizations: Cincinnati Reds, NBA
ESPN has held preliminary discussions with the NFL, NBA and MLB about a variety of new partnerships and investment structures, the people said. Spokespeople for ESPN, the NFL and MLB declined to comment. The NBA and Disney have broached many potential structures around a renewal of media rights, the people said. Iger said last week in an interview with CNBC's David Faber that Disney is looking for a strategic partner for ESPN as it prepares to transition the sports network to streaming. Superficially, it may make less sense for the NBA, NFL and MLB which sign lucrative media rights deals with many media partners that fuel team revenue and player salaries with a range of media companies.
Persons: LeBron James, Bob Iger, Jimmy Pitaro, Spokespeople, RedZone, Iger, CNBC's David Faber, Faber, I'm Organizations: Los Angeles Lakers, LA Clippers, ESPN, Disney, National Football League, National Basketball Association, Major League Baseball, NFL, NBA, MLB, NFL Network, NFL.com, Warner Bros, Discovery, Hearst, Professional, Comcast, Amazon, Paramount Global, Apple Locations: Lake Buena Vista , Florida, Fox
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