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☆ State Farm signs JuJu Watkins and increases investment in women's sports
  + stars: | 2024-11-25 | by ( Jessica Golden | ) www.cnbc.com   time to read: +3 min
State Farm has signed USC star JuJu Watkins to an NIL deal as it increases its investment in women's sports. State Farm is furthering its investment in women's sports with two new deals. State Farm will kick off the NIL partnership with Watkins starring as a "new neighbor" in a co-branded ad spot with mascot/spokesman Jake from State Farm. State Farm's investments in women's sports now include the National Women's Soccer League, the Women's National Basketball Association, National Collegiate Athletics Association basketball regular season and women's Olympic basketball and volleyball. State Farm saw an additional 28% boost in effectiveness when the spots aired during her Iowa Hawkeyes games.
Persons: JuJu Watkins, Kristyn Cook, Watkins, Jake, they've, Caitlin Clark, Sue Bird, Cook, Clark Organizations: USC, Farm's, Farm, University of Southern, State, National Women's Soccer League, National Basketball Association, National Collegiate Athletics Association, WNBA, EDO, Iowa Hawkeyes Locations: Watkins, University of Southern California
☆ WNBA star Cameron Brink on the No. 1 negotiation skill that's helped her sign deals with New Balance, Skims and more
  + stars: | 2024-11-22 | by ( Morgan Smith | ) www.cnbc.com   time to read: +3 min
WNBA star Cameron Brink had to learn how to negotiate her worth sooner than most 22-year-olds. Despite suffering a torn ACL in June that sidelined her rookie season, Brink's momentum off the court hasn't slowed. "Building my confidence in negotiations has been a journey for me, but I remind myself that my skills and hard work are valuable," Brink told CNBC Make It in an email. The most important step she takes to prepare for any negotiation, Brink says, is to research the companies she negotiates with. By contrast, the highest-paid players in the NBA are earning more than $50 million a year — and that's before factoring in sponsorships.
Persons: Cameron Brink, Brink, New Balance's, Caitlin Clark —, She's, Hamby, Steph Curry, Adam Broda, Taylor, you've Organizations: New, Stanford University, Sports Illustrated, Los Angeles Sparks, CNBC, Amazon, WNBA, Women's, Basketball Players, Vogue Business, NBA
☆ Caitlin Clark joins NWSL ownership group bidding to bring soccer team to Cincinnati
  + stars: | 2024-11-22 | by ( Kristian Burt | In | ) www.cnbc.com   time to read: +2 min
Caitlin Clark has joined an ownership group looking to create a National Women's Soccer League team in Cincinnati, Ohio. Cincinnati is a growing favorite among cities looking to become the 16th NWSL franchise, with other potential outposts including Denver, Cleveland, Philadelphia and Nashville. "The NWSL Cincinnati bid team is thrilled that Caitlin Clark has joined our ownership group in pursuit of bringing a women's professional soccer team to our city," the NWSL Cincinnati bid team wrote in a statement. Bay FC, which played its first season this year, spent $53 million to cover the NWSL expansion fee. The NWSL declined to comment on Clark's involvement with Cincinnati's ownership group.
Persons: Caitlin Clark, Clark, —, Jessica Golden Organizations: Indiana Fever, Dallas Wings, Gainbridge Fieldhouse, Women's Soccer League, BOS Nation Football Club, Bay FC, Sixth, Cleveland Soccer Group, University of Iowa, National Basketball Association Locations: Indianapolis , Indiana, Cincinnati , Ohio, Cincinnati, Denver, Cleveland, Philadelphia, Nashville, Greater Cincinnati, Boston
☆ Eli Manning, Derek Jeter, Jimmy Fallon join TGL New York Golf Club investor group
  + stars: | 2024-11-21 | by ( Jessica Golden | ) www.cnbc.com   time to read: +2 min
Tiger Woods and Rory McIlroy's new golf league, TGL, is getting some fresh star power representing the Big Apple. Cohen Private Ventures, the family office of Steve Cohen, announced on Thursday that Eli Manning, Derek Jeter, CC Sabathia, Michael Strahan, John McEnroe and Jimmy Fallon are joining the New York Golf Club's investor group as limited partners. Cohen, who also owns Major League Baseball's New York Mets, acquired the rights to the New York Golf team last September. TGL is the new primetime, high-tech golf league launched by Woods, McIlroy and Golf Channel executive Mike McCarley. Former New York Yankees star Jeter told CNBC he was drawn to the investment opportunity because it combines his passion for golf and his love of New York.
Persons: Tiger Woods, Rory McIlroy's, Steve Cohen, Eli Manning, Derek Jeter, Michael Strahan, John McEnroe, Jimmy Fallon, Cohen, Rickie Fowler, Xander Schauffele, Matt Fitzpatrick, Cameron Young, Manning, TGL, Woods, McIlroy, Mike McCarley, Stephen Curry, Shaquille O'Neal, Kevin Durant, Shohei Ohtani, Mike Trout, Josh Allen, Serena Williams, Lewis Hamilton, Jeter, NYGC Organizations: Big Apple, Cohen Private Ventures, New, FedEx, Major League Baseball's New York Mets, New York Golf, CNBC, Former New York Giants, Golf Channel, PGA Tour, ESPN, National Basketball Association, MLB, National Football League, Former New York Yankees Locations: York, Palm Beach , Florida, TGL, New York, New
☆ CNBC Sport: The next big media rights deal isn't in the U.S.
  + stars: | 2024-11-21 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com   time to read: +17 min
In my inaugural CNBC Sport newsletter , I said the major American sports leagues have their media rights deals locked up for years to come. The NHL's Canadian media rights deal will end after next season. The company has said it intends to bid again for the Canadian media rights. In my inaugural CNBC Sport newsletter, I said the major American sports leagues have their media rights deals locked up for years to come. The NHL's Canadian media rights deal will end after next season.
Persons: Alex Sherman, Rogers, Gary Bettman, Amazon's, James Gay, Rees, Paul Martin –, Wayne Gretzky, Amanda Serrano, Nakisa Bidarian, Jake Paul, Mike Tyson, Katie Taylor, Taylor, Serrano, Tyson, Paul –, Amanda, Katie, Mike, Jake, Bidarian, Amanda's, hasn't, I'm, CNBC's Jake Piazza, Lillian Rizzo, Tiger Woods, Rory Mclroy, Mike McCarley, Steve Cohen's, Eli Manning, Derek Jeter, Michael Strahan, John McEnroe, Jimmy Fallon, Rickie Fowler, Xander Schauffele, Matt Fitzpatrick, Cameron Young, CNBC's Jess Golden, Dan Gilbert, Turner, John Tesh, LeBron James, Maverick Carter, Fulwell, Ben Winston, They'll, Peacock, CNBC's Dominic Chu, Mollie Marcoux Samaan, Marvel Entertainment Rob Steffens, Wanda Diamond, LOVB, LOVB Pro's, Michele Kang, Kang, Rob Manfred, That's, Manfred, Tomas Hertl, Thatcher Demko, Derek Cain Organizations: CNBC, CNBC Sport, Rogers Communications, NHL, National Basketball Association, National Football League, Rogers, Amazon Prime, Netflix, NFL, Amazon, Buffalo Bills, Kansas City Chiefs, CBS, Patriots, Sports Business, Golf Channel, Mike McCarley . New York Mets, Private Ventures, New, New York, WNBA, NBA's Cleveland Cavaliers, NBA, Warner Bros, Discovery, Turner Sports, U.S, ESPN, ABC, NBC, NBC Sports, SpringHill, Comcast, USA, English Premier League, NASCAR, WWE, Olympics, Marvel Entertainment, American Hockey League, Wanda Diamond League, Atwater Capital, U.S . Soccer, MLB, The Athletic, Professional Fighters League, Dubai Department of Economy, Tourism, Dubai Sports Council, PFL, San Jose Sharks, Vancouver Canucks, Rogers Arena, Sports, Reuters Locations: —, Canada, Canadian, U.S, Amazon, Europe, Salt Lake City , Utah, Mike McCarley ., Cleveland, Northeast Ohio, Atlanta , Austin, Houston, Madison, Omaha, Salt, Dubai
☆ The NHL has strict rules for how much teams can spend. Here's how it works
  + stars: | 2024-11-20 | by ( Jake Piazza | In | ) www.cnbc.com   time to read: +4 min
The pay limit has been in place since the end of a labor dispute that caused the cancellation of the entire 2004-05 NHL season. Sports business experts said the strict salary cap has helped the league's financial health since the full season stoppage. The hard salary cap is a stark difference from Major League Baseball and the National Basketball Association, which have no salary cap and a soft salary cap, respectively. But the hard cap means NHL teams have to be especially diligent. The NHL is planning to start negotiations with the NHLPA in early 2025, NHL Commissioner Gary Bettman said at this year's NHL Board of Governors meeting.
Persons: NHLPA, Rick Burton, Burton, Irwin Kishner, Herrick Feinstein, It's, Jalen Brunson, Gary Bettman Organizations: Florida Panthers, Stanley, Edmonton Oilers, Amerant Bank, National Hockey League, NHL, Toronto Maple Leafs, Columbus Blue Jackets, Official, National Hockey League Players Association, CBA, Syracuse University, Major League Baseball, National Basketball Association, National Football League, firm's Sports Law, Los Angeles Dodgers, Athletic, New York Knicks, ESPN, Governors Locations: Sunrise , Florida, American
☆ Utah Hockey Club is beefing up Salt Lake City's roster as a sports hub
  + stars: | 2024-11-20 | by ( Lillian Rizzo | ) www.cnbc.com   time to read: +4 min
Salt Lake City checked all the boxes for a new professional sports team — particularly in the National Hockey League. Salt Lake City kicked off its first season in the NHL this year after the Utah Hockey Club relocated from Phoenix. The early excitement of the fanbase, marked by sellout crowds and high merchandise sales, is solidifying Salt Lake City as a sports market. So far, every one of the 11,131 unobstructed view seats at Delta Center has been sold out, according to the Utah Hockey Club. The Utah Hockey Club generated the highest retail sales on its opening night of any hockey team this season, including the Florida Panthers, the 2023-24 Stanley Cup champions, according to the Utah Hockey Club.
Persons: Ryan Smith —, Ryan, Ashley Smith, Smith, Gary Bettman, —, Chad Hutchinson, Hutchinson Organizations: National Hockey League, Salt Lake City, NHL, Utah Hockey Club, National Basketball, Utah Jazz, Major League Soccer's, National, Soccer League's Utah Royals, Smith Entertainment Group, Arctos Partners, Delta Center, Delta, NBA, Florida Panthers, Utah Hockey Club's, Vegas Golden Knights Locations: Salt Lake City, U.S, —, Salt Lake, Phoenix, Salt, Utah
☆ TNT’s ‘Inside the NBA’ headed for ESPN and ABC after Warner Bros. Discovery settlement
  + stars: | 2024-11-18 | by ( Alex Sherman | Alex Sherman Covers Media For Cnbc. | ) www.nbcnews.com   time to read: +6 min
Warner Bros. Warner Bros. The settlement with Warner Bros. Discovery, announced Monday, as well as a separate agreement between Warner Bros. The agreement also extends a partnership between NBA Digital and TNT Sports for five seasons that allows the NBA to engage Warner Bros.
Persons: —, Comcast’s, Turner, ”, Ernie Johnson Jr, Charles Barkley, Kenny Smith, Shaquille O’Neal, “, Adam Silver, Max, Hulu, Venu that’s, David Zaslav, Silver Organizations: Warner Bros, Discovery, National Basketball Association, Warner Bros . Discovery, NBA, — Disney, Amazon, WNBA, CNBC, ESPN, Turner Sports, TNT, Disney, Comcast, TNT Sports, Nordic, NBA Digital, ABC, College Football, Warner Brothers Discovery Locations: U.S, Poland, Latin America, Brazil, Mexico
☆ Stocks making the biggest moves premarket: Tesla, Nvidia, Robinhood, Liberty Energy and more
  + stars: | 2024-11-18 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com   time to read: +3 min
Spirit Airlines — Shares of the struggling airline were halted on Monday after the company filed for bankruptcy protection . The stock rose 2.8% when trading resumed. Liberty Energy , Oklo — Shares of Liberty Energy rose 5% after Trump picked CEO Chris Wright as energy secretary . Robinhood — The electronic trading platform stock gained 1% after Needham upgraded shares to buy from hold. CVS Health — Shares of the drugstore company rose 2% following a Wells Fargo upgrade to overweight from equal weight.
Persons: Tesla, Donald Trump's, Chris Wright, Wright, Baird, Barron's, Needham, Robinhood, Robert F, Kennedy Jr, —, Sarah Min, Alex Harring, Jesse Pound, Spencer Kimball, Lisa Kailai Han Organizations: Bloomberg News, U.S . Transportation Department . Spirit Airlines, Liberty Energy, Oklo, of Liberty Energy, Trump, Nvidia, Blackwell, Nasdaq, Trump's Securities, Exchange Commission, CVS, Aetna, Warner Bros, National Basketball Association, Wall Street Journal, U.S, NBA, HSBC, Moderna Locations: Wells
☆ Stocks making the biggest moves midday: Moderna, Roku, CVS Health, Robinhood and more
  + stars: | 2024-11-18 | by ( Brian Evans | ) www.cnbc.com   time to read: +3 min
Trump Media & Technology Group — Shares in President-elect Donald Trump's media company pulled back roughly 5%. Although the stock has been increasingly volatile in the wake of Trump's election, it has gained more than 52% in 2024. Redfin — The online real estate company's stock slipped 3.4% following a downgrade at Goldman Sachs to sell from neutral. CVS Health — Shares of the drugstore operator jumped nearly 6% following a decision to add four new board members in a deal with Glenview Capital. Moderna — Shares of the biotech company jumped more than 5% after HSBC upgraded the stock to buy from hold and said it views the stock as being undervalued.
Persons: Donald Trump's, Donald Trump, Chris Wright, Wright, Baird, Goldman Sachs, Wells, Needham, Piper Sandler, —, Alex Harring, Sean Conlon, Hakyung Kim, Pia Singh, Michelle Fox Organizations: Spirit Airlines —, Trump Media & Technology, Liberty Energy, Goldman, CVS, Glenview Capital, Aetna, U.S . Securities, Exchange, Nasdaq, Moderna —, HSBC, Warner Bros, —, National Basketball Association Locations: Wells Fargo
☆ NBA, Warner Bros. Discovery agree to settle lawsuit over live game rights
  + stars: | 2024-11-18 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com   time to read: +2 min
Warner Bros. Warner Bros. Discovery sued the NBA in July, claiming the league failed to allow the media company to use its so-called matching rights on a package of live games. The agreement also extends a partnership between NBA Digital and TNT Sports for five seasons that allows the NBA to engage Warner Bros. The league isn't paying Warner Bros.
Persons: —, Comcast's, Turner Organizations: Warner Bros, Discovery, National Basketball Association, Warner Bros . Discovery, NBA, — Disney, Amazon, WNBA, CNBC, ESPN, Turner Sports, TNT, Disney, Comcast, TNT Sports, Nordic, NBA Digital Locations: U.S, Poland, Latin America, Brazil, Mexico
☆ WNBA star Cameron Brink says she saves 90% of her income: 'I don't want to be working forever'
  + stars: | 2024-11-15 | by ( Morgan Smith | ) www.cnbc.com   time to read: +1 min
While some athletes celebrate their first big paycheck with a splurge — NFL star Travis Kelce dropped $10,000 on a limited-edition pair of sneakers, Shaquille O'Neal spent $150,000 on a Mercedes Benz — WNBA star Cameron Brink hasn't touched hers. Brinks says she's saved about 90% of her total earnings from her first year in the league, adding that the WNBA isn't the principal driver of her income. "I want to ensure that I'm setting myself up for a comfortable lifestyle down the line because I definitely don't want to be working forever." Brink, who in college signed an endorsement deal with New Balance to become the brand's first female basketball player, had an NIL valuation topping $200,000 while at Stanford University, Sports Illustrated reports. In a league where player salaries are still as low as they are, such sponsorships can make all the difference.
Persons: Travis Kelce, Shaquille O'Neal, Cameron Brink, Caitlin Clark —, Brinks, she's, Brink, Taylor, Steph Curry, Armour, Chase Organizations: NFL, Benz, WNBA, Los Angeles Sparks, CNBC, Stanford University, Sports, Women's, Basketball Players, Vogue Business, Golden State Warriors
☆ Private equity can now invest in NFL teams. Here's what it could mean for the league
  + stars: | 2024-11-13 | by ( Christian Nunley | ) www.cnbc.com   time to read: +1 min
The National Football League is now accepting investment from private equity firms. The process was a long time in the making, after peer leagues like Major League Baseball and the National Basketball Association began doing so starting in 2019. In recent years valuations of professional football teams have skyrocketed, boosted in part by soaring media rights packages. The average NFL franchise is valued at $6.5 billion, according to CNBC's Official NFL Valuations, while the NBA's average franchise is worth about $4.4 billion, according to Forbes. Watch the video above to learn more about how the NFL's new guidelines for private equity will work and how they may affect the league moving forward.
Persons: we've, Clark Hunt, Forbes, Sportscorp, Marc Ganis Organizations: National Football League, Major League Baseball, National Basketball Association, Kansas City Chiefs, NFL, NBA
☆ Amazon Prime Video to stream Diamond regional sports networks
  + stars: | 2024-11-13 | by ( Lillian Rizzo | ) www.cnbc.com   time to read: +3 min
Diamond Sports reached a deal with Amazon's Prime Video that will allow its 16 regional sports networks to be made available on the streaming platform. The company's previously launched FanDuel Sports Network streaming options will still be available. In October, Diamond inked a naming rights deal with Flutter -owned FanDuel, rebranding its networks from Bally Sports to FanDuel Sports Network. Both Prime Video and the FanDuel Sports Network app will offer the single games, according to the person familiar with the offering. Amazon's Prime Video already airs a selection of Yankees games each season since it is a stakeholder in the YES Network.
Persons: Diamond Organizations: Sports, Amazon's, Sports Network, Diamond Sports, Bally Sports, FanDuel Sports Network, National Hockey League, Basketball Association, FanDuel Sports, Major League Baseball, Atlanta Braves, Braves, Amazon, NBA, NHL, MLB, New York Yankees, YES Network, Yankees, YES
☆ 76ers’ Embiid reportedly ‘shoves’ reporter after loss; NBA commences investigation
  + stars: | 2024-11-03 | by ( Homero De La Fuente | ) edition.cnn.com   time to read: +3 min
CNN —The National Basketball Association is investigating reports that Philadelphia 76ers star center Joel Embiid “shoved” a columnist following the team’s loss to the Memphis Grizzlies on Saturday night. A visibly angry Embiid confronted Philadelphia Inquirer columnist Marcus Hayes as reporters entered the Sixers locker room, according to the Associated Press. Embiid reportedly continued mouthing at Hayes, who eventually offered an apology to the 76ers center. CNN has reached out to the Philadelphia 76ers, Embiid’s agent and the Philadelphia Inquirer but did not immediately hear back. “This poor conditioning apparently seems to have delayed his debut this season.”Philadelphia 76ers' Joel Embiid, top left, watches from the bench during the 76ers' game.
Persons: Joel Embiid “, ”, Embiid, Marcus Hayes, Hayes, Arthur, “, ” Embiid, mouthing, Hayes ’, Hayes interjected, “ Joel Embiid, ” Hayes, Joel Embiid, Matt Slocum, ’, Marcus, I’ve, Daryl Morey, Nick Nurse, Paul George Organizations: CNN, National Basketball Association, Philadelphia 76ers, Memphis Grizzlies, Philadelphia, Sixers, Associated Press, AP, 76ers, NBA, Philadelphia Inquirer, ” Philadelphia 76ers Locations: Hayes
☆ Gatorade signs Duke basketball's Cooper Flagg to NIL deal
  + stars: | 2024-10-29 | by ( Jake Piazza | In | ) www.cnbc.com   time to read: +2 min
First-year Duke men's basketball player Cooper Flagg has agreed to a name, image and likeness deal with PepsiCo -owned Gatorade, according to a Tuesday announcement. As part of the deal, Gatorade will use Flagg in its marketing. Since the approval of NIL deals, college athletes have been able to capitalize on endorsement deals in ways they never could before. Players like Flagg, a highly touted prospect and likely NBA star, have been able to net NIL deals, some of them reportedly worth millions of dollars. Flagg has inked his NIL deals all before playing in a college basketball game that counts toward a season record.
Persons: Cooper Flagg, Duke men's, Flagg, it's, of Connecticut's Paige Bueckers, JuJu Watkins, Colorado's Shedeur Sanders, Cooper, Jeff Kearney Organizations: Duke Blue Devils, Arizona State Sun Devils, Cameron Indoor, Gatorade, PepsiCo, women's, of, University of Southern, Duke, Maine Locations: Durham , North Carolina
☆ CNBC Sport: Adam Silver speaks exclusively, and TKO makes a big bet
  + stars: | 2024-10-24 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com   time to read: +21 min
☆ WNBA Finals Game 5 draws highest viewership in 25 years
  + stars: | 2024-10-23 | by ( Jake Piazza | Jason Is A Digital Rotation Program Associate For Cnbc. | ) www.nbcnews.com   time to read: +2 min
The fifth game of this year’s WNBA Finals between the Minnesota Lynx and the New York Liberty was the most-viewed WNBA finals game in 25 years across all networks, according to ESPN, citing Nielsen data. The National Football League’s “Sunday Night Football” and Major League Baseball’s National League Championship Series aired at the same time. Viewership across the entire WNBA Finals series more than doubled compared to last year, a continuation of the growing popularity of the WNBA and women’s sports more broadly. Minnesota Lynx forward Bridget Carleton drives against New York Liberty forward Jonquel Jones in Game 5 of the WNBA Finals. The impressive viewership caps off a WNBA season that saw viewership, engagement and attendance up across the board.
Persons: Bridget Carleton, Jonquel Jones, Pamela Smith Organizations: Minnesota Lynx, New York Liberty, ESPN, Nielsen, League Baseball’s National, WNBA, Lynx, Liberty, National Basketball, CNBC, Golden State, Basketball Players, CBA, Associated Press
☆ MLS attendance and sponsorship revenue break records — and it's not just because of Messi
  + stars: | 2024-10-22 | by ( Lillian Rizzo | Lillian Rizzo Covers Media | Sports | ) www.nbcnews.com   time to read: +5 min
Major League Soccer scored several regular season records, including for attendance and sponsorship, thanks in part to international superstar Lionel Messi — and corporate strategy. Each match during the 2024 season averaged 23,234 attendees, the highest ever for the regular season. Last year, the MLS’s Inter Miami signed Messi, which caused a surge in attendance, jersey and other product sales, and overall fanbase engagement. The league signed 18 new sponsorship partners this season between the MLS and Soccer United Marketing (SUM), the commercial arm of the MLS. Viewership data isn’t available for MLS Season Pass, but Apple executives have said on public calls that the audience has risen since Messi joined the league.
Persons: Lionel Messi —, Messi, Luis Suárez, Lionel Messi, Chris Arjoon, Chris McGowan, McGowan, “, ” Organizations: Major League Soccer, MLS, Inter, New, Getty, National Basketball Association, MLS’s Inter Miami, Messi, Inter Miami, U.S ., New York Red Bulls, Soccer United, Messi’s Inter Miami, Adidas, YouTube, North, Apple Locations: AFP, Instagram, North American, U.S
☆ MLS attendance and sponsorship revenue hit regular season records
  + stars: | 2024-10-22 | by ( Lillian Rizzo | Chris Hawes | ) www.cnbc.com   time to read: +1 min
Lionel Messi of Inter Miami competes during a friendly match between Inter Miami and Newell's Old Boys at DRV PNK Stadium in Fort Lauderdale, Florida on February 15, 2024. Major League Soccer scored several regular season records, including for attendance and sponsorship, thanks in part to international super star Lionel Messi — and corporate strategy. Nearly 11.5 million people attended MLS matches during the regular season — which ended this past weekend — the most in its history, according to data from the league. Each match during the 2024 season averaged 23,234 attendees, the highest ever for the regular season. Last year, MLS' Inter Miami signed Messi, which caused a surge in attendance, jersey and other product sales, and overall fanbase engagement.
Persons: Lionel Messi, Lionel Messi —, Messi, Luis Suárez Organizations: Inter Miami, Major League Soccer, MLS, National Basketball Association, Messi, U.S . Locations: Fort Lauderdale , Florida
☆ Nike renews uniform partnership with NBA, WNBA as NFL opens bidding process to competitors
  + stars: | 2024-10-21 | by ( Jessica Golden Gabrielle Fonrouge | Jessica Golden | Gabrielle Fonrouge | ) www.cnbc.com   time to read: +4 min
The NBA logo is seen outside an NBA store in New York on July 8, 2024. Under the terms of the deal, Nike will be the leagues' global outfitting, merchandising, marketing and content partner until 2037. As the largest athletic apparel company in the world, Nike has long been a favorite among professional sports leagues and their athletes. Despite Nike's recent stumbles, the NBA told CNBC it has no concerns about continuing its partnership with the apparel company. Nike has not faced significant criticism for its basketball uniforms.
Persons: Elliott Hill, Sal LaRocca, They've, LaRocca, you'll, LeBron James, Kevin Durant, Caitlin Clark, Sabrina Ionescu Organizations: NBA, Nike, National Basketball Association, National Football League, Major League Baseball, CNBC, MLB, ESPN, WNBA Locations: New York
☆ Billionaire Tom Gores to buy 27% of the LA Chargers for $750 million
  + stars: | 2024-10-16 | by ( Michael Ozanian | ) www.cnbc.com   time to read: +3 min
Detroit Pistons team owner Tom Gores claps during the press conference on July 30, 2021 at the Pistons Performance Center in Detroit, Michigan. Gores also owns the the National Basketball Association's Detroit Pistons. The private equity founder along with this firm, Platinum Equity, bought the team for $325 million in 2011. The purchase of the Chargers stake is solely by Gores and not affiliated with Platinum Equity. Likewise, the Chargers play in SoFi Stadium, which is also the home of the Los Angeles Rams.
Persons: Tom Gores claps, Tom Gores, Gores, Dea Spanos Berberian, Dean, Alexis, Michael Spanos, Holly, Dean Spanos, Alex G, Berberian, Stan Kroenke Organizations: Detroit Pistons, Pistons, National Football, Los Angeles Chargers, Chargers, Las Vegas Raiders, NFL, National Basketball Association's Detroit Pistons, Platinum Equity, Little Caesars Arena, National Hockey, Detroit Red Wings, Red Wings, NHL, Los Angeles Rams, Rams Locations: Detroit , Michigan, Los Angeles, Oakland , California, SoFi
☆ Diamond Sports, FanDuel reach naming rights agreement for regional sports networks
  + stars: | 2024-10-16 | by ( Jake Piazza | In | ) www.cnbc.com   time to read: +4 min
More change is coming to Diamond Sports' regional sports networks. Diamond Sports said in the filing that if it is able to emerge from bankruptcy protection, FanDuel will be a "long-term naming rights partner." The new naming rights agreement would also give FanDuel the right to buy up to 5% of equity in the reorganized company and get performance warrants for up to 5% of equity. A naming rights deal was later signed with gaming company Bally's Corp . Some NBA teams that have left the regional sports networks have turned to local broadcast stations to air local games.
Persons: Diamond, FanDuel, Sinclair Organizations: Diamond Sports, Bally Sports, National Hockey League, National Basketball, NBA, NHL, Fox Corp, Disney, Fox Sports, Bally's Corp, Sinclair, Major League Baseball, MLB, Atlanta Braves, San Diego Padres, Arizona Diamondbacks, Milwaukee Brewers, Cleveland Guardians, Minnesota Twins, Dallas Stars, Anaheim Ducks, Parent Locations: Canada
☆ Tom Brady expected to become part owner of NFL's Las Vegas Raiders
  + stars: | 2024-10-15 | by ( Jessica Golden Michael Ozanian | Jessica Golden | Michael Ozanian | ) www.cnbc.com   time to read: +2 min
Las Vegas Raiders owner Mark Davis walks off the field with former NFL quarterback Tom Brady before the preseason game between the Dallas Cowboys and the Las Vegas Raiders at AT&T Stadium in Arlington, Texas, on Aug. 26, 2023. National Football League owners are expected to approve Tom Brady as minority owner of the Las Vegas Raiders on Tuesday, a person familiar with the matter told CNBC. After he first retired from the NFL, Brady signed a 10-year, $375 million broadcasting deal with Fox Sports in 2022. The five-time Super Bowl MVP is not new to the Las Vegas sports scene. He is also a minority owner of the Women's National Basketball Association's Las Vegas Aces, which, like the Raiders, is owned by Mark Davis.
Persons: Mark Davis, Tom Brady, Tom Wagner, Brady, Wagner Organizations: Las Vegas Raiders, NFL, Dallas Cowboys, T, National Football League, CNBC, Raiders, Knighthead, Allegiant, Fox Sports, Las, Las Vegas Aces Locations: Arlington , Texas, Atlanta, Oakland, Las Vegas
☆ WNBA to expand Finals to 7 games, add to regular season next year
  + stars: | 2024-10-11 | by ( Jake Piazza | In | ) www.cnbc.com   time to read: +2 min
Napheesa Collier #24 of the Minnesota Lynx scores the game winning basket during the game against the New York Liberty during Game 1 of the 2024 WNBA Finals on October 10, 2024 at Barclays Center in Brooklyn, New York. Basketball fans will have even more chances to see their favorite stars play in the Women's National Basketball Association in the 2025 season. WNBA Commissioner Cathy Engelbert announced that the league will expand its regular season from 40 to 44 games, and its Finals series from five to seven games, both beginning next year. The Finals round will be a 2-2-1-1-1 format for home games, with the higher seed hosting first. Viewership, attendance and engagement numbers all increased for the 2024 season, and in some cases set new records.
Persons: Napheesa Collier, Cathy Engelbert, Engelbert, Caitlin Clark, Angel Reese, Breanna Stewart, A'ja Wilson Organizations: Minnesota Lynx, New York Liberty, Barclays Center, Basketball, National Basketball Association, WNBA, Portland, CNBC, National Basketball Locations: Brooklyn , New York, Toronto, Portland
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