The Suns’ revenue was $300 million during the 2021-22 season and ranked 18th in the league, according to Sportico’s NBA team valuations. With Durant and Irving off the payroll, the tax for the Nets will now be liable for less than $40 million. Durant, 34, has three more years left on the four-year, $194 million contract he signed with the Nets in 2021. He ranks as the third highest-paid player in the league this season, including more than $40 million off the court. Durant has made more than $700 million, including endorsements, since he was drafted in 2007.
For 40 years, Vince McMahon has been in complete control of World Wrestling Entertainment. There is the possibility of a deal with a smaller publicly traded business that would be open to McMahon having voting control of a new entity. There’s an even greater risk for WWE shareholders: What if McMahon wants a deal for WWE but also wants to stay in charge? Both companies were publicly traded and controlled, like WWE, through a special class of voting stock held by the Dolan family. And because they gave Networks shareholders stock in Entertainment, they met fairness rules around cashing out minority stockholders at too low a price.2 months ago Sportico.com
The New York Yankees’ season is over, but another hugely important competition begins. Even Judge, who broke Roger Maris’ American League and Yankees’ single-season home run record by hitting 62 this season, says he has no clue. The Yankees will be left to ponder the future for the 13th offseason since they last won the World Series in 2009. Judge turned down a $213.5 million, seven-year offer prior to this season and that figure may seem paltry when all is said and done this offseason. “It’s yet to be determined what the gold—how much it weighs—but it’s a pot of gold, no doubt about it.5 months ago Sportico.com
PurchasesUnited Soccer League Awards Franchise to Milwaukee-Based GroupThe United Soccer league has awarded a new USL Championship franchise to a Milwaukee investment group, led by Kacmarcik Enterpirses and Milwaukee Pro Soccer. TOCA and MLS will also develop branded games for TOCA Social, the world’s first interactive soccer entertainment and dining venue. National Cycling League Partners with Event Production, PR OrganizationsThe National Cycling League has partnered with Medalist Sports, a cycling event production organization, and Torre Consulting Services, a PR and social media organization, ahead of the nascent league’s launch in 2023. Xfinity, FaZe Clan Link up for Content, Event PartnershipA new partnership makes Xfinity the official Internet and mobile provider for FaZe Clan, a lifestyle and media platform. FanDuel, Spotify Agree to Multi-year Partnership ExtensionFanDuel and Spotify have agreed to a multi-year partnership agreement extension.5 months ago Sportico.com
Welcome to Sportico’s Transactions wire, a weekly rundown of personnel, partnerships and purchases across the sports business industry. PersonnelNBA Names Paramount+ Exec As Chief Marketing OfficerThe NBA has named Tammy Henault as its next chief marketing officer. He also built the league’s global communications and marketing teams to engage with fans and digital content partners worldwide. QuintEvents Acquires Monaco Star EventsQuintEvents—the provider of ticket, hospitality and travel experiences to sports and entertainment events—has acquired Monaco Star Events. Monaco Star Events owner Shane Heminway will stay in Monaco as part of the QuintEvents team.5 months ago Sportico.com
Under terms of the renewal, a minimum of 16 F1 races will air on ABC and ESPN each season, and (as has been the case since 2018) each event will air without any commercial interruptions. Per Nielsen, F1 races are currently averaging 1.2 million viewers across ABC, ESPN and ESPN2, which marks an increase of 26% versus last season’s record TV turnout (949,000). (When the 90-minute pre-race segment is factored in, the overall presentation delivered 2.07 million viewers.) The renewal was announced on the eve of the U.S. Grand Prix race in Austin, Texas, which also serves as the final stop on F1’s two-stop U.S. swing. After a 14-year run, ESPN and F1 parted ways, only to reunite with a new, ABC-inclusive deal in 2018.5 months ago Sportico.com
In the first deal, Endeavor agreed to give Rokit $2 million in exchange for 66,667 shares of Rokit World Ltd. at a $3 billion valuation. In effect, Endeavor’s $2 million investment would be returned to it two-fold within the following two years. Rokit World Ltd., the signatory to Endeavor’s investment deal, is an Irish-based holding company for Rokit’s mobile technology pursuits. Filings with the Companies Registration Office in Ireland detail the Endeavor investment and no others. On the day before it was set to begin trading in September of 2019, Endeavor lowered its indicated price range, then abandoned the IPO altogether, citing weak demand from investors.5 months ago Sportico.com
America’s Cup and Skydance Sports are exclusively partnering for an “all-access, behind-the-scenes” documentary series on the next America’s Cup race, and as Deadline reports, they’ve enlisted some Oscar-winning talent to help steer the craft. The America’s Cup is the longest-running international sports competition—it dates back to 1851—and the premiere sailing event in the world. The 37th America’s Cup is set for September and October 2024 in Barcelona, Spain. Our approach to telling the story of the 37th America’s Cup will be no different. This series is not just for sailing fans; it’s a universal tale of perseverance, obsession, rivalry, and teamwork.”Grant Dalton, America’s Cup CEO, said: “Over the past couple of decades both the America’s Cup and the media environment have evolved and matured significantly.4 months ago Sportico.com