With more than 145,000 in attendance over two days in Philadelphia, WrestleMania 40 is officially the most successful and highest-grossing event in WWE history, TKO announced Tuesday. The 145,298 who came out to Lincoln Financial Field broke the previous record set by WrestleMania 39 by 78%, drawing fans from all over the world. On top of that, viewership for WrestleMania 40 was up 41% compared to last year, while the gate for both Friday Night SmackDown and Monday Night Raw were the largest in their respective histories. The WWE event was also a hit on social media, where it became the most socially viewed WrestleMania of all time, with 660 million views consumed. WrestleMania 40 had it all, with appearances from Dwayne “The Rock” Johnson, Cody Rhodes, Roman Reigns, and even Eagles greats Lane Johnson and Jason Kelce.

NBC Trending Toward New Olympic Sales Record for Paris Games

There is nothing little about the business of the Olympics. NBC is trending toward a new Olympic sales record, having already sold $1.2 billion in advertising for the 2024 Paris Games, the company said Tuesday. Additionally, ad spending among International Olympic Committee (IOC) sponsors is up 18% from the Tokyo Olympics in 2021, with renewed interest from some major corporate sponsors. Some of IOC’s sponsors include major brands like Visa, Toyota, and Procter & Gamble. This is a welcome sight for NBCUniversal, which paid $7.65 billion to renew its broadcast rights deal through 2032. Many attribute the rebound in advertising to the fact that all spectators will be allowed at the Paris Olympics for the first time since the pandemic.

WNBA Teams Up with Opill for Multi-year Partnership

The WNBA and Opill, the first-ever daily birth control pill available without a prescription in the US, are teaming up for a multi-year partnership that “focuses on building confidence, strength and health equity,” the companies announced Tuesday. The relationship will begin with Opill being the associate partner of the 2024 WNBA Draft next week in Brooklyn. “At the WNBA, we are committed to addressing issues that matter to the players, and expanding access to reproductive healthcare is one of those key issues,” WNBA Chief Growth Officer Colie Edison said. “It’s great to be working with a partner whose values align and authentically integrates into the health equity work our players are dedicated to.” The league integrated family planning as a huge part of its ground-breaking CBA, which was ratified in 2020.

NCAA Women’s Basketball Championship Outdraws Men’s March Madness Final

For the first time ever, the women’s national championship between South Carolina and Iowa drew a bigger audience than the men’s title game between UConn and Purdue. According to Nielsen, the Huskies’ repeat championship on TBS and TNT drew 14.82 million viewers, falling well short of the 18.87 million that tuned in to watch Dawn Staley and the Gamecocks complete their undefeated season. However, it was a 4% increase over last year’s final when UConn defeated San Diego State on CBS.

Stephen A. Smith Speaks Out on Mental Health in PSA

ESPN media star Stephen A. Smith opens up about mental health, including his own journey, in a PSA set out to “destigmatize asking for and receiving help.” The PSA is part of the “Love, Your Mind” national campaign from the Huntsman Mental Health Institute and the Ad Council. “I am honored to partner with ‘Love, Your Mind’ to help inspire others to be more open about their mental health. I hope this powerful initiative will empower more people to do the same,” Smith said. Since launching in October 2023, the campaign has driven over 222,000 visits to its website for free mental health resources.

Chicago Red Stars to Play Bay FC at Wrigley Field

In an effort to become more accessible to fans, the Chicago Red Stars are moving their game against Bay FC on June 8 to Wrigley Field, the first time the NWSL has played in the Chicago Cubs stadium. “Playing at Wrigley Field will be the event that fans of the Red Stars, Cubs and Chicago sports won’t want to miss,” said Chicago Red Stars President Karen Leetzow. According to Sportico‘s team valuations, the Red Stars are worth roughly $40 million, while Bay FC, the NWSL‘s newest club, recently sold out its inaugural home opener on March 30.

The post WrestleMania 40 Breaks WWE Records in Philadelphia appeared first on Boardroom.

The WWE’s Monday Night Raw will stream exclusively on Netflix starting in January 2025, parent company TKO Group announced Tuesday. Agreeing to a 10-year deal worth a reported $5 billion, this arrangement also marks the end of a longstanding partnership between Raw and NBCUniversal, as the flagship program aired on USA Network from 1993 to 2000 and again from 2005 to present. In October, USA Network will be the new home to WWE‘s SmackDown. TKO Group Holdings — which, on the same day, also added Dwayne Johnson to its Board of Directors as well as gave him full ownership of “The Rock” nickname — the stock was up more than 18% in early Tuesday trading following the WWE to Netflix news.

Boardroom’s Shlomo Sprung has more on the big moves made by the WWE on Tuesday.

Andre 3000 & His Flute to Tour in New York, Los Angeles & More

Andre 3000 is hitting the road with his flute in tow. On Wednesday, the rapper announced on Instagram he will be visiting several cities in support of his debut solo album, New Blue Sun. A total of 29 intimate shows will be played in New York, L.A., Detroit, Chicago, Atlanta, and San Francisco, including a three-night residency at the iconic Blue Note Jazz Club in Manhattan. The jaunt wraps on March 9 with a five-night run at LA’s The Masonic Lodge at Hollywood Forever. Andre 3000 will be joined by collaborators Carlos Niño, Nate Mercereau, Surya Botofasina, and Deantoni Parks. Tickets go on sale Wednesday at 10 a.m. local time.

Netflix Outperforms Expectations, Reaches New Subscriber Record

Netflix added 13.1 million subscribers in Q4, reaching a new high of 260.8 million total paid subscribers. The streamer far outpaced expectations that forecasted it would attract between 8 and 9 million new members. The strong earnings report rounded out a big Tuesday for the streaming giant, as it led all platforms with 18 Academy Award nominations in addition to the announcing that it will be the new home of WWE Monday Night Raw beginning in January 2025.

Chiefs-Bills Breaks NFL Viewership Record as Most-watched Divisional Playoff Game Ever

Sunday night’s divisional round thriller between the Kansas City Chiefs and the Buffalo Bills proved to be a ratings boom for the NFL, averaging 50.3 million viewers on CBS. It is now the most-watched divisional playoff game ever, beating last year’s Sunday night divisional playoff game between the San Francisco 49ers and Dallas Cowboys, which recorded 45.6 million viewers. Kansas City’s win also became the most-watched program on any network since Super Bowl LVII, in which the Chiefs beat the Philadelphia Eagles. Kansas City will face the Baltimore Ravens on Sunday afternoon in the AFC Championship, followed immediately by the NFC Championship between the Niners and the Detroit Lions.

Led by Bitcoin & Ethereum, Number of Crypto Owners Grew Significantly in 2023

A new report published by Crypto.com found that global ownership of digital assets grew by 34% last year, with the user base growing from 432 million in January to 580 million by year’s end. The crypto research also indicated that Bitcoin (BTC) saw exceptional spikes in April and May, alongside Ethereum‘s (ETH) major network upgrade event in Shanghai, which implemented staking and other features. Bitcoin owners rose 33% to 296 million in 2023, while Ethereum owners grew by 39% to 124 million. Finally, BTC and ETH accounted for 51% and 21% of all crypto owners, respectively.

For all the latest in the crypto space, be sure to subscribe to Boardroom’s Tech Talk newsletter with Michelai Graham. 

Zhang & Thompson to Join McIlroy, Homa in First Co-ed Lineup for ‘The Match’

Capital One’s “The Match” is back, but this time with a twist. For the first time in the event’s young history, two female golfers will join the fun, as LPGA stars Rose Zhang and Lexi Thompson will play alongside four-time major champion Rory McIlroy and six-time PGA Tour winner Max Homa. The 2024 iteration will be a 12-hole competition held on Monday, Feb. 26, at The Park Golf Course in West Palm Beach, Fla. Each hole on the course will hold a specific dollar amount going to charity, and the golfer that raises the most at the end of the event will be declared the winner. This year’s nonprofit is First Tee, a youth organization that aims to develop children’s social skills through golf. The competition will broadcast live across TNT networks at 6:30 p.m. ET.

The post Netflix, WWE Agree to Exclusive ‘Raw’ Streaming Deal; TKO Adds ‘The Rock’ to Board appeared first on Boardroom.

Dwayne Johnson has played many important and popular roles over his professional career, but perhaps none are more validating than the one he took on this week.

A legendary, groundbreaking WWE career as “The Rock” in the 1990s and early 2000s, “Attitude Era,” made Johnson a household name around the world and led to a massively lucrative career in film, television, and business. On Tuesday, Johnson was not only named to the board of directors at WWE’s parent company, TKO Group, he was given the copyright ownership of “The Rock” name.

“I’m very humbled to have a seat at the table that has decades of history and family legacy for me,” Johnson said in a statement. “A table that my family helped to build. Being on the TKO Board of Directors, and taking full ownership of my name, ‘The Rock’, is not only unprecedented, but incredibly inspiring as my crazy life is coming full circle.”

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The 51-year-old Johnson came from a long line of pro wrestlers, with his grandfather, High Chief Peter Maivia, and father, Rocky “Soulman” Johnson, also competing in the squared circle. He was a backup defensive lineman on the 1991 national champion University of Miami football team but ended up with a pro wrestling contract in 1996 after he was cut by the Canadian Football League’s Calgary Stampeders. Wrestling led to a movie career whose films have grossed over $10 billion worldwide.

Johnson was able to parlay his on-screen fame, which included an NBC series, Young Rock, based on his life, into a successful career as an investor. Numerous movies The Rock has starred in were made with Seven Bucks Productions, a production studio Johnson founded with his ex-wife Dany Garcia in 2012, including a live-action Moana that will debut in 2025.

In addition to his Teremana Tequila, ZOA Energy, and Project Rock businesses, Johnson and Garcia also acquired and re-launched the XFL, which merged with USFL in September to create an eight-team spring league — the United Football League — that will debut at the end of March.

A New Sports & Entertainment Behemoth

The blockbuster UFC-WWE merger means a new $21 billion giant on the block in TKO — here’s everything you need to know about the massive deal.

Check it out!

Last April, Endeavor bought 51% of WWE and merged it with UFC to form TKO in a deal valued at more than $21 billion. It became official five months later. The news comes on the same day as WWE signing a landmark 10-year deal to stream Monday Night Raw on Netflix worth a reported $5 billion.

And “The Rock” gets a seat at the TKO table amid rumors he’ll face Roman Reigns, whose nickname is the “Head of the Table,” for the WWE Universal Championship at Wrestlemania in April.

The additions of Johnson and Groupon co-founder Brad Keywell expand TKO’s board membership from 11 to 13.

“I am thrilled to partner with Dwayne and welcome his immense talent to TKO’s Board,” Ari Emanuel, TKO’s CEO, said. “Dwayne brings an incredible track record of creating content and building globally recognized consumer brands, and he will play a key role in realizing our ambitions for TKO.”

TKO Group Holdings stock is up more than 18% in early Tuesday trading.

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April 10, 2024

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The post Dwayne ‘The Rock’ Johnson Continues to Solidify Investment Foundation appeared first on Boardroom.

October’s Very Own (OVO) is linking up with some of the most popular colleges in the country. After successful collabs with the NBA, NFL, and MLB, the umbrella brand started by Drake, 40, and Oliver El-Khatib is expanding its sports arm to include the  NCAA. On Tuesday, OVO announced limited-edition clothing collections with Texas, Kentucky, Memphis, North Carolina, and Alabama. Consumers can look forward to hats, hoodies, basketball shorts, varsity jackets, and more splashed with distinctive colors and branding from each college and, of course, the OVO owl on each piece. The drop is scheduled for Sept. 29.

Boardroom’s Ian Stonebrook has more details on this forthcoming launch.

MrBeast, KSI, Jake Paul Top Forbes’ 2023 List of Top Creators

Forbes has identified the most powerful influencers online in their annual Top Creators 2023 list. This year, the 50 individuals on the list amassed 2.6 billion followers and totaled an estimated $700 million in earnings, a more than 20% increase compared to 2022’s $570 million total. Topping the list is Jimmy Donaldson, famously known as MrBeast, who hauled $82 million in 2023. Olajide Olatunji, who goes by KSI online, comes in second with $24 million to his name. Vine star-turned-boxer Jake Paul is No. 3 with $34 million in earnings. Comedians Rhett & Link take the fourth spot with $32 million in earnings, and rounding out the top 5 is TikTok sensation Charli D’Amelio with $23 million in earnings.

Endeaver CEO Ari Emanuel Taking Home Sizable Payout Following TKO Listing

Endeavor CEO Ari Emanuel is a rich(er) man. Following news that the $10 billion merger with WWE became official under Endeavor‘s TKO Group Holdings conglomerate earlier this month, it’s now revealed Emanuel will receive a sizable raise. The exec will reportedly pocket an annual base salary of $3 million, which is subject to increase based on the board’s approval. Bloody Elbow also adds that, for this year, Emanuel qualifies for a guaranteed annual cash bonus of $1.75 million. Perhaps the largest payout comes in the form of a transaction bonus of $20 million, which will be rewarded within 30 days following TKO being registered with the Securities and Exchange Commission (SEC).

CBS Sports Undergoing Major Leadership Change After CEO Retires

After 27 years on the job, CBS Sports announced Tuesday that chairman Sean McManus would be retiring from the company in April 2024. Per the news release, McManus will be succeeded by David Berson — the president of CBS Sports for the last decade — as the president and CEO of CBS Sports. McManus joined CBS Sports in 1996 and was instrumental in helping bring the NFL back to the network in 1998. The Duke graduate was also in charge when CBS signed rights deals with the NCAA, Big Ten, SEC, PGA, PGA Tour, the Masters, and UEFA. After 16 years at ESPN, Berson joined CBS in 2011 and became president of CBS Sports in 2013.

SAG-AFTRA to Strike Against 10 Major Video Game Companies

The SAG-AFTRA has voted 98.32% in favor of authorizing a strike with the 10 major video game companies as the two sides remain at odds over a new contract, the actors union announced on Monday. The SAG-AFTRA video game actors appear to be dealing with an identical problem as TV and movie writers and their fellow actors, which include demands for pay raises and governance when it comes to the use of artificial intelligence. For context, a strike authorization doesn’t automatically mean voice and performance actors will stop working, but it does allow the union to call a strike if it feels negotiations prove idle. “It’s time for the video game companies to stop playing games and get serious about reaching an agreement on this contract,” said SAG-AFTRA president Fran Drescher

Execs From Klutch, Springhill Team Up to Create Beekeeper Coffee

Fara Leff, Paul Rivera, David Creech, and Nate and Andrew Forbes have teamed up to create Beekeeper Coffee, which the release calls “a new ready-to-drink coffee brand bringing a new voice to coffee for the next generation of consumers.” If the group of founders sounds familiar, it’s because they’ve achieved success working at brands such as Nike, Beats By Dre, Lobos 1707, Klutch Sports Group, and the Cleveland Cavaliers together. With this new venture, the hope is to simplify the caffeinated beverages while also connecting with a new generation of coffee enthusiasts. Find the cold brew coffee and lattes in four flavors – double black, vanilla, caramel, and mocha, all with a drop of honey. Beekeeper Coffee is available to purchase directly at beekeepercoffee.com and soon at select retailers.

The post OVO Partners with Texas, Kentucky, Memphis, UNC, & Alabama for College Collab appeared first on Boardroom.

WWE‘s SmackDown is returning to USA Network in October 2024 in a five-year agreement with NBCUniversal, according to The Wall Street Journal. The deal is estimated at approximately $1.4 billion, a 40% increase from Fox’s deal for the program. Fox has been the home for SmackDown since 2019. Additionally, WWE will produce four yearly primetime specials for NBC’s broadcast network. The specials will air on NBC starting in the 2024-25 season.

Will Smith Throws it Back with ‘Class of 88’ Podcast

Will Smith is hosting a limited podcast, Class of ’88, celebrating one of the most defining years of hip-hop. Produced by Wondery, Audible, Westbrook, and Awfully Nice, the show will feature the likes of Queen Latifah, Salt-N-Pepa, Darryl ‘DMC’ McDaniels, DJ Jazzy Jeff, Rakim, and Chuck D. Guests will pay homage to the music, fashion, and film that left a mark on the genre at the time and are still recognized today. The Oscar-winning actor and DJ Jazzy Jeff enjoyed commercial success in 1988 with their hit single “Parents Just Don’t Understand.” The track made history as the first to win the Grammy for Best Rap Performance at the 1989 awards. All eight episodes of the Class of ’88 will come out on Oct. 26 exclusively on Amazon Music and Audible.

Lil Wayne Announces ‘Tha Fix Before Tha VI’

Tha Carter VI is on the way, but Lil Wayne doesn’t want his fans to wait for the new project to be completed before hitting them with new music. The New Orleans rapper announced that he will drop Tha Fix Before Tha VI via his social media accounts. Weezy has stayed busy recently, leading out Deion Sanders and the Colorado football team last weekend in Boulder and making routine appearances on Skip Bayless’ Undisputed, for which he also recorded a new theme song.

Quavo Visits the White House to Discuss Gun Violence

Quavo is turning the grief he experienced after losing his nephew and fellow Migos member Takeoff to gun violence into activism. The Atlanta-raised emcee was in Washington, DC, on Wednesday for a panel discussion on gun violence prevention. Partnering with the Community Justice Action Fund, the 32-year-old met with members of Congress and, afterward, met privately with Vice President Kamala Harris. Quavo and his family — including his sister, Titania Davenport, Takeoff’s mother — have launched The Rocket Foundation to honor the late rapper’s legacy and support programs that save lives through community-based solutions to prevent gun violence.

Rupert Murdoch is Leaving Fox, Hands the Reins to Son

Billionaire media exec Rupert Murdoch is stepping down as chairman of Fox Corporation and News Corporation, effective mid-November, the 92-year-old announced Thursday. In a memo to staff, Murdoch said, “For my entire professional life, I have been engaged daily with news and ideas, and that will not change. But the time is right for me to take on different roles, knowing that we have truly talented teams.” In the note, Murdoch added that his son Lachlan, who already serves as chief executive of Fox Corporation, will become the sole chairman of both companies.

Microsoft Unveils New Surface Device, AI Software at NYC Event

Microsoft is preparing for its next generation of computing products. The tech giant hosted an event in New York City on Thursday that spotlighted its newest devices and its newest software, Windows 11. The company unveiled the Surface Laptop Studio 2 and the Surface Laptop Go 3. Additionally, Microsoft announced the enterprise availability of Microsoft 365 Copilot, which features AI software to help enhance the Word and Excel experiences. CEO Satya Nadella expressed his excitement at the innovative product, the company’s first in many years. Each model will hit the market on Oct. 3, but preorders are currently open.

The post WWE ‘Smackdown’ Makes $1.4B Return to USA Network appeared first on Boardroom.

A week after its $10 billion merger with WWE became official under Endeavor‘s TKO Group Holdings conglomerate, the UFC reported strong finances for the first half of 2023.

Total revenues of $611.9 million for the first six months of 2023 was a 16% increase year over year. Media rights covered most of that, with a $50 million YoY increase to $438.5 million. Live event revenue soared 57% to $63.7 million, sponsorship revenue increased 12%, and consumer product licensing revenue went up 9%.

Here’s a breakdown of the key metrics from UFC’s full 2022 fiscal year:

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• UFC reported record revenue of $1.14 billion. This is up from $1.03 billion for 2021, with total operating expenses decreasing by $45 million to $595.7 million.
• Net income increased from $272.3 million to $387.2 million — a 34% increase that will be even higher if UFC’s fiscal trends extend to the second half of the year.
• UFC’s big year in 2022 did have its downsides. Fighter pay was down $32.8 million for the year despite the spike in both revenue and profits. This underscores an industry-wide problem in combat sports and mixed martial arts where revenue isn’t shared equitably.
• LowKickMMA estimated that 2022 revenue sharing decreased from just under 20% to 13-15%. For context, unionized professional leagues like the NBA share revenue with the owners at a 50-50 split.

It was a record 2022 for UFC, with 2023 looking like it could blow those banner numbers out of the water. While its fighters struggle to get a commensurate piece of the pie, UFC’s financial outlook has never been better.

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Breaking Down the Cannabis Policies of Every Major North American Sports League

The post UFC Revenue Spikes Following WWE Merger appeared first on Boardroom.

Football fans are well aware of the impact David Beckham had on the global game — from his early days in Europe, to his later years stateside with the LA Galaxy, and as current owner of Inter Miami CF. Thanks to Netflix, the legendary No. 7 is getting the documentary treatment. Announced Tuesday, Beckham is set to premiere on the streaming platform on Oct. 4 in four parts. A three-minute trailer for the doc promises to provide “never-before-seen personal archive footage from the last 40 years, candid current-day moments and interviews with the family, friends and footballing figures who have been part of his journey.” Among some key insights viewers will see are Beckham‘s early struggles with fame and the relentless criticism that came with his relationship with former Spice Girls member Victoria “Posh Spice” Beckham.

Brooklyn Aces Prepare for Fall MLP Season Kickoff in Atlanta

Major League Pickleball’s Brooklyn Aces are headed to Atlanta this weekend, marking the team’s first tournament in the top-flight Premier season. The new-look Aces consist of No. 4 overall draft pick Catherine Parenteau, Andrea Koop, Hayden Patriquin, and Tyler Loong. The team’s new quartet brings valuable experience earned from previous deep tournament runs. In addition to a new logo, the team features two new sponsors: CityPickle and New Belgium Fat Tire Ale.

Read more about the season ahead for the Aces from Boardroom’s Shlomo Sprung. 

NWSL Adds Boston to Expansion, Set to Begin Play in 2026

The NWSL is returning to New England, with the league announcing on Thursday that it has awarded Boston an expansion franchise that will begin play in 2026. The club will be the 15th NWSL franchise, following the additions of two other NWSL expansion teams earlier this year, Utah Royals FC and Bay FC, both slated for their inaugural seasons in 2024. The franchise will be led by an “all-female core ownership group” called Boston Unity Soccer Partners. This will be the third professional women’s sports team in Boston and the first women’s soccer club since the Boston Breakers called Beantown home from 2001 to 2018.

Boardroom’s Vinciane Ngomsi has more on the NWSL soccer club retuming to Boston. 

Disney Plans $60B Expansion of Theme Parks Business

Big changes are coming to The Walt Disney Co. Per a securities filing shared Tuesday for its Disney Parks, Experiences, and Products branch, the mass media brand is preparing to shell out at least $60 billion over the next year “by investing in expanding and enhancing domestic and international parks and cruise line capacity, prioritizing projects anticipated to generate strong returns, consistent with the Company’s continuing approach to allocate capital in a disciplined and balanced manner.” Essentially, consumers can look forward to sizable upgrades and expansions for the company’s domestic and international parks and cruise line capacity. An additional report from The Hollywood Reporter revealed that Disney held a presentation to investors on Tuesday and disclosed it had more than 1,000 acres of land available to expand on at its parks in California, Florida, France, China, and Japan. The expansion also included cruise ship ports in the United States, Asia, and Australia.

Bleacher Report is Coming to Max as Live Sports Package

Warner Bros. Discovery is adding a live sports tier to its Max streaming service, with the add-on set to be available for US customers on Oct. 5, per a release. Launching as Bleacher Report (B/R) Sports, the package will enable viewers to access simulcast streams of NBA, NHL, NCAA, US soccer games, and more. To start, Max subscribers can watch live sports programming on Max free of charge until the promo period ends on Feb. 29. The sports package will cost $10 per month after that and will be available as an add-on for any Max subscription plan in the US. As of the most recent quarter, WBD reported having 95.8 million global streaming subscribers, with most on Max.

Jordy Nelson, Julius Peppers Among New Nominees for 2024 Hall of Fame Class

The Pro Football Hall of Fame has unveiled its list of 173 modern-era nominees eligible for a gold jacket next year, and it includes nine players who are in the first year of eligibility. Those premiering on the list, which dropped Tuesday, are wide receivers Brandon Marshall and Jordy Nelson, tight end Antonio Gates, running back Jamaal Charles, offensive linemen T.J. Lang, Josh Sitton and Max Unger, and defensive linemen Haloti Ngata and Julius Peppers. The 173-name roster consists of 94 offensive players, 62 defensive players, and 17 special teams players. The list will be reduced to 25 semifinalists in November.

The Rock’s Surprise WWE Return Boosts Friday Night Smackdown Ratings

His surprising return to WWE’s Friday Night SmackDown last week was met with plenty of delight, and it’s safe to say that Dwayne “The Rock” Johnson‘s shock cameo boosted viewership. The WWE alum’s confrontation with Austin Theory recorded 2.6 million viewers on Fox, up 23% versus the crowd for Friday Night SmackDown the week before. Compared to a year ago, the audience was up 16%. It was also No. 1 on broadcast primetime last Friday among audiences 18 to 49 and 18 to 34. For those who missed the live viewing, WWE posted the video of the 51-year-old’s segment on social media, and it has been viewed well over 100 million times.

The post David Beckham is Getting the Netflix Documentary Treatment appeared first on Boardroom.

After months of anticipation, the new Apple iPhone 15 is finally here. The device was unveiled Tuesday at Apple’s “Wonderlust” event, and it comes in four different models – iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max. Updated features include a new camera system built around a 48MP main camera that promises richer color and improved low-light performance, automatic portrait-need detection, smarter HDR, and more. Another significant change includes a USB-C port instead of its usual Lightning-based charging capabilities, which was long hinted at but now finally confirmed. The company also announced a new line of Apple Watches on Tuesday, as well as the release of iOS17. The software will be available for download on Sept. 18.

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WWE-UFC Merger Complete With Debut of TKO Stock on Wall Street

With Endeavor‘s acquisition of the WWE being formally closed on Tuesday, Dana White and Vince McMahon are officially partners. The alliance creates a new company known as TKO Group Holdings, bringing together the UFC and the WWE under one umbrella. The deal is valued at $21.4 billion, with the UFC valued at $12.1 billion and the WWE at $9.3 billion. Ari Emanuel, who remains CEO of Endeavor, is the CEO of TKO Group Holdings, while Mark Shapiro keeps his roles at Endeavor as President and COO. McMahon, who maintained a reported 18.5% of WWE shares at the time of the UFC merger, will serve as Executive Chairman of the Board.

Boardroom’s Sam Dunn breaks down the key details of the now-official TKO Group Holdings.

Aaron Rodgers Out for Season with Achilles Injury; Jets Turn to Zach Wilson

The New York Jets confirmed that quarterback Aaron Rodgers ruptured his Achilles in the Monday night matchup against their divisional rival Buffalo Bills. The veteran QB will need surgery and miss the rest of the season. Sans Rodgers, the team pulled out a gutsy overtime win. However, the season was thrown into question with the news. Head Coach Robert Saleh told reporters on Tuesday that Zach Wilson is the team’s quarterback despite reports that they were in discussions with some potential alternatives. The Jets play the Cowboys, who dominated the Giants 40-0 in their opener, on Sunday at AT&T Stadium. 

Breanna Stewart Edges A’ja Wilson By 1 Point for AP WNBA Player of the Year Honors

The WNBA playoffs are tipping off this week, and one player has already been recognized for her stellar performance during the regular season. On Tuesday, New York Liberty star Breanna Stewart became the first player to repeat as the AP WNBA Player of the Year, edging out reigning league MVP A’ja Wilson of the Las Vegas Aces by one vote from the 12-member group. “It’s quite different after switching teams and coming to New York and having such a positive season going 32-8. It’s been a lot of amazing basketball going on this year and makes you feel good going into the playoffs,” Stewart said of the honor. The Liberty host the Washington Mystics in Round 1 of the playoffs on Friday at 7:30 p.m. ET at Barclays Center.

Notorious B.I.G.’s Estate & Budweiser Bringing Back “Word Up!” Magazine

The estate of The Notorious B.I.G. and Budweiser are linking up to honor hip-hop’s 50th anniversary by relaunching the iconic Word Up! magazine for a limited time. The publication, which was in circulation from 1987 to 2012 and even earned a shoutout in the late rapper’s 1994 hit “Juicy,” was established for kids to learn and enjoy hip-hop’s biggest stars during the period. Expect to find handwritten lyrics and rare photos courtesy of Biggie’s estate, along with a heartfelt letter to the Brooklyn-born emcee by fellow New Yorker, his friend and radio DJ, Angie Martinez. According to Variety, the first of two limited editions of the magazine is scheduled to drop on Sept. 13. Only 5,000 collectible copies will be available in select markets across the country, including New York, Los Angeles, Atlanta, Philadelphia, and Chicago.

Coco Gauff Draws Largest Audience for a Women’s Major Championship with US Open Win

All eyes were on Queens over the weekend. Coco Gauff took home the championship trophy, but the 19-year-old’s match against Aryna Sabalenka drew historic attention, logging 3.4 million viewers for the ESPN broadcast. The numbers mark an astounding 92% year-over-year jump from the 2022 Women’s Championship numbers and became the most-viewed major women’s championship in history. Meanwhile, the men’s final drew 2.3 million viewers, marking a modest 8% leap from the previous year.

The post Apple Debuts iPhone 15; New Watch & iOS17 Also Announced appeared first on Boardroom.

The past weekend brought us Sean Strickland’s upset stunner over Israel Adesanya for the UFC middleweight championship in Sydney, Australia. And while the Endeavor-owned MMA promotion’s purportedly $21 billion merger with World Wrestling Entertainment has been a known fact since springtime, things finally became official this week with some opening bell fanfare New York Stock Exchange — and the implications are far more seismic than anything Strickland delivered inside the octagon.

On a dais that included WWE CEO Vince McMahon, UFC President Dana White, Endeavor CEO Ari Emanuel, and a who’s-who of executives and talent, the a new era began under the banner of TKO Group Holdings, Inc. and its brand-new TKO stock.

So, what’s changing and what’s staying the same in this brave new world following the long-heralded WWE-UFC merger? Let’s talk C-suite, which NFL and NBA execs are on the new board of directors, and key details regarding the big TKO stock debut.

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TKO Stock Goes Live at the NYSE

So, now that this new company is a real thing and officially listed on the NYSE, here are the most important things investors need to know about TKO’s stock, as tracked by CNBC:

• Opening price: $102 per share
• High price: $103 per share (as of 11:45 a.m. ET on Sept. 12)
• Day’s trading volume: 231,724 (as of 11:45 a.m. ET on Sept. 12)
• Total shares outstanding: 83,160,000
• Market cap: $8,516,000,000

Under the TKO Holdings structure, Endeavor owns 51% of shares of TKO stock as of this morning’s opening bell, while previous WWE shareholders retained 49%. As the largest individual shareholder, Vince McMahon — who held a reported 18.5% of WWE shares at the time of the UFC merger — serves as Executive Chairman of the Board.

UFC and WWE Merger Means a New Corporate Structure

Company principals

• CEO: Ari Emanuel, who remains Chief Executive Officer of Endeavor
• President & COO: Mark Shapiro, who remains in both capacities at Endeavor
• CFO: Andrew Schleimer
• CLO: Seth Krauss, who remains Chief Legal Officer at Endeavor

TKO Board of Directors

• Vince McMahon, Executive Chairman, WWE
• Peter Bynoe, Senior Advisor, DLA Piper LLP
• Egon Durban, Co-CEO, Silver Lake
• Steve Koonin, CEO, Atlanta Hawks
• Jonathan Kraft, President, Kraft Group (New England Patriots, New England Revolution, Gillette Stadium)
• Sonya Medina, President & CEO, Reach Resilience
• Nancy Tellem, Executive Chairperson and Chief Media Officer, Eko
• Carrie Wheeler, CEO and a board member, Opendoor Technologies Inc.

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The post The TKO Era: Endeavor’s WWE-UFC Merger is Official as New Stock Goes Live appeared first on Boardroom.

Aljamain Sterling couldn’t resist.

Riding a nine-fight winning streak longer than the division had ever seen, the UFC bantamweight champion was already ahead with one round in the books against ascendant 28-year-old challenger “Suga” Sean O’Malley, he of the pink braids and brash soundbites, in Saturday’s UFC 292 main event at Boston’s TD Garden. But known primarily for his jiu-jitsu game on the ground, Aljo was probing for a moment to shoot for the first takedown of the match.

A speculative O’Malley front-kick attempt was enough for the veteran to respond with an aggressive left hand that took him uncharacteristically off-balance. Then, the Suga Show went to 11:

It was a stunning end not just to Sterling’s championship reign in the 135-pound division — he closed as a -270 betting favorite at FanDuel Sportsbook and hadn’t lost since 2017 — but the era in which the unmistakable Sean O’Malley could be considered anything other than one of the foremost, ultra-marketable stars in all the UFC.

And if you were to take a closer look at how the UFC and parent company Endeavor have done business over the last few years, the Suga Show getting over and going mainstream with such demonstrable thunder feels as natural as can be.

In a different respect, meanwhile, it’s an example of the world’s biggest MMA promotion breaking a few of its own rules in search of a new and lucrative path forward.

Perhaps UFC President Dana White put it best: “O’Malley isn’t gonna be a star. He is a star.” 

Folks, let’s strap on the four-ounce gloves and discuss what this Sean O’Malley masterstroke means (and doesn’t mean!) for the business of the fight game, and why it’s happening now.

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Explaining Sean O’Malley and the Business of the UFC

The Suga Show does big numbers. Even more impressively, he’s doing it in a small weight class.

In the buzzing afterglow of Saturday’s main event, White was indeed effusive in his praise. In his first headlining bout as a UFC fighter, O’Malley’s championship moment came on a night in which the TD Garden generated just under $7.25 million in gate revenue, which White claimed was a record-breaking figure for the home of the NBA’s Celtics and NHL’s Bruins.

Sure, Uncle Dana is not exactly immune to the kind of fabulism that borders on carnival barking, but that number at the gate is noticeably higher than most such events held outside of Las Vegas — and when taken alongside the pay-per-view buzz, it’s clear that O’Malley managed to deliver a bump.

“This is also the biggest bantamweight championship fight ever on pay-per-view, globally. It broke the record,” White said in his post-UFC 292 press conference.

Don’t discount that part of the equation. Especially in America, whether it’s mixed martial arts or boxing, we love ourselves some heavyweights. Larger-than-life comic book superheroes. That’s what makes a 135-pound Gervonta Davis penetrating the zeitgeist and delivering explosive boxing highlights (and viewership numbers to match) so impressive. Now, MMA has its own authentically marketable power-hitter in the lower weight divisions — arguably for the first time ever.

(Naturally, O’Malley also called out Tank Davis for a boxing match. Vaya con dios!)

The UFC doesn’t need stars in order to make billions. They happily anointed O’Malley anyway.

John S. Nash of Bloody Elbow previously reported that in 2022, the UFC generated $1.14 billion in profits. Not revenue; profits. As noted by several outlets, that number is greater than the profits of every other global combat sports promotion combined.

So, how many times did Conor McGregor, the biggest star in the sport to the point that no one else is even close, fight in 2022 in order to deliver such a financial coup?

Zero times.

How is this possible? Look no further than a UFC business model that:

1. Reaps a head-turning windfall from its ongoing media rights deal with ESPN
2. Pays out less than 20% of revenues to fighters. Nash noted that the latter figure decreased to just 13.5% in 2022; leagues like the NFL, NBA, and MLB typically enjoy an approximate 50-50 split.

In other words, to maximize their bottom line, the UFC and parent company Endeavor do not need to build up new stars who would then inevitably demand bigger paydays. In context, the fact that they now choose to push Sean O’Malley after passing on the opportunity to do so with countless current and former champions with cachet, including former heavyweight king Francis Ngannou, is intriguing.

A sneakily telling detail therein: The UFC considers it a matter of policy not to make highlight videos from pay-per-view events freely available immediately after they occur. In the case of the decisive second round that saw Suga Sean stop Sterling, they made a rare exception:

Let’s talk about why that might be.

Spoiler alert: the timing is anything but an accident.

The UFC and its business model are approaching a crossroads.

Here are several things that are true:

• That blockbuster ESPN deal expires after 2025, at which point O’Malley — currently the only UFC champion under 30 — would still be just 31 years old.
• Since the ESPN partnership began in 2019, Endeavor also purchased WWE, which has its own media rights negotiation coming up. The wrestling giant’s current pact with NBCUniversal streamer Peacock ends in 2026.
• It has been reported that Endeavor could consider packaging UFC and WWE media rights together
• Let’s also appreciate that we’re squarely in the direct-to-consumer streaming era. If the UFC did choose to divest from the Disney/ESPN apparatus and all the casual visibility it brings, it would do well to pivot back towards being in the star-making business — and Sean O’Malley has the most long-term bankability there.

Endeavor will have zero interest in the profit train slowing down, so it’s conceivable that the path toward having the greatest number of good options going forward regarding its television and streaming future includes swinging the pendulum back toward boasting an elite stable of marketable stars to serve as its faces. Whether the Mystic Mac fanboys like it or not, Conor McGregor may never fight in an MMA cage again; plans for the future of the UFC brand need to be laid now and not left up to chance.

Oh, and we also need to mention the lawsuit!

An antitrust lawsuit against the UFC fundamentally threatens the way the promotion does business.

Yep, the media rights front isn’t the only one that could be transformative regarding how money flows through MMA in the years to come. Behold, the single most under-discussed topic in global combat sports: An antitrust lawsuit by several current and former MMA fighters against the UFC received class action certification earlier this month, a landmark moment whose implications could easily be worth billions, either through a settlement or a formal ruling that would force the UFC to reboot itself.

Here’s the short version: plaintiffs allege that the UFC constitutes an illegal monopoly or monopsony due to business practices — especially the structure of its athlete contracts — that effectively prevent free agency for the vast majority of fighters.

And it sure sounds like the judge who granted the class action status, Richard Boulware of the US District Court for Nevada, is amenable to the plaintiffs’ concerns on anti-competitive grounds.

All told, the UFC has done handsomely well for itself over these last few years by staying out of the star-making business, which has prevented several fighters from maximizing their own earning potential. By additionally minimizing access to free agency, they have been able to opt out of a competitive landscape for talent through which rival promotions could stand a reasonable chance of picking off athletes with competitive offers outside of truly unusual circumstances.

Now, even if they face no true comeuppance for their approach to doing business, they do see writing on the wall. So, as they advance towards a potentially explosive future, they’re making a point to pump up the volume on the Suga Show today knowing that the golden vein they’ve mined so successfully for the last several years is suddenly at a heightened risk of running dry.

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The post Suga Showstopper: What the Sean O’Malley Era Really Means for the UFC’s Bottom Line appeared first on Boardroom.

San Juan is revered for being a premier vacation destination in which one can satisfy a love of history while reserving ample time for beachside relaxation. While both make the Puerto Rican capital attractive enough for tourists, the first weekend in May brought a different demographic of visitors: WWE superfans.

While plenty of sports enthusiasts stateside were occupied with Formula 1’s Miami Grand Prix, big-ticket pay-per-views in boxing and the UFC, the 149th running of The Kentucky Derby, 18,500 of pro wrestling’s most fervent supporters found themselves at the Coliseo de Puerto Rico José Miguel Agrelot for back-to-back sold-out events featuring sports entertainment’s biggest names. Fans watched in awe during Friday Night’s SmackDown show as Liv Morgan and Raquel Rodriguez rescued Bianca Belair from a clash at the hands of Damage CTRL. Then, they were treated to commentary from Cody Rhodes reluctantly vowing to defeat Brock Lesner at the following evening’s premium live event, Backlash.

And though crowds provided a deafening roar for the weekend’s entirety, no one received a more thunderous welcome to the “Choli” than Bad Bunny.

The rapper and self-proclaimed wrestling buff was one of two marquee events during Saturday’s highly anticipated Backlash festivities. The 29-year-old entertainer caused quite an uproar when he and opponent Damian Priest tussled a day prior at the Backlash press conference. With both embracing the primetime spectacle as a homecoming of sorts, Bad Bunny and Priest’s weeks-long quarrel was finally put to the test in front of thousands in person and even more watching from the comfort of home. Walking out to his 2017 song “Chambea,” Bunny wheeled out to the ring a shopping cart loaded with an arsenal foreign objects, including kendo sticks, trash cans, and a bicycle chain.

The match started off inside the ring but quickly justified its “San Juan Street Fight” moniker as Bunny and Priest both taking turns trading blows, with Bunny earning the first ovation after pulling off an impressive tornado DDT from the top turnbuckle. Proving his love for entertaining isn’t just reserved for singing in sold-out arenas, the Adidas ambassador followed up with a cross-body drop to Priest.

Not to be outshone, Priest had his turn with the decorated musician, most notably slamming Bunny through a table by way of Broken Arrow.

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After more than 20 minutes of back-and-forth action, including cameos from members of Priest’s squad The Judgement Day and Bunny allies including WWE Hall of Famer Rey Mysterio and former WWE Puerto Rican legends Savio Vega and Carlito, Bunny’s signature technique — the Bunny Destroyer — would be the deciding factor. Priest had no answer, and within seconds, Bunny’s expression went from fierce to relief as he was hoisted in the air by his Latino World Order associates in the middle of the ring.

The excitement of the victory could be felt through a television screen, but it was absolutely electric at the venue. To natives, Bad Bunny is not just an international superstar who redefined the Puerto Rican Dream. The man born Benito Martínez exemplifies passion, perseverance, and grit. Earlier in the week, he was rubbing elbows with fashion’s elite at the Met Gala; several days later, he’s back home, surrounded by those who streamed him first, reuniting wrestling with a territory that had not experienced a Backlash event since 2005.

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The Bad Bunny Effect

To its credit, WWE’s popularity was more than simply solid long before Bunny’s involvement. However, who would turn down a chance to earn the endorsement of Spotify’s most streamed artist? After all, “San Benito” as a solo musical talent has proved to be a resounding success thus far, routinely finding hinmself among the most-streamed, most in-demand artists worldwide, so don’t overthink it: Bunny as the unofficial face of wrestling is likely to produce a same result, particularly given how skilled he already is at the whole thing.

Revelers didn’t need to be in the vicinity to understand the impression Bunny has on his fellow Puerto Ricans, either. Take Saturday’s press conference as an example: A typical May heat wave would discourage the average person from standing outside the venue hoping to catch a glimpse of Bunny during the hour-long show. On the contrary, the estimated 200-person crowd surged into 2,000 loyal supporters happily braving the uncomfortable 95-degree weather.

Bunny’s love story with WWE isn’t a secret, nor is it a new development. The “La Jumpa” crooner made his first WWE appearance in 2021, even performing his single “Booker T” during the annual Royal Rumble event held on Jan. 31, 2021. After that, Bunny made regular appearances on the federation’s weekly television program, Monday Night Raw. A year later, Bunny returned to the Royal Rumble as a competitor, making it to the final five before losing to iconic performer and eventual champion Brock Lesner.

Nevertheless, Bunny’s infatuation with wrestling persisted, even landing a spot as a playable wrestler in WWE 2K23 video game as a pre-order incentive.

Now, he’s got a whole slate of new milestones to beam about ahead of his next appearance in the squared circle — one that’s sure to deliver yet another explosive pop.

The timing of Bunny’s involvement could not be convenient. After months of speculation, WWE’s acquisition by Endeavor became official in April; the holding company purchased 51% of the wrestling giant and merged the organization with the UFC to generate a new publicly traded sports and entertainment company worth an estimated $21 billion.

Apparel and collectibles giant Fanatics also wanted a piece of WWE pie, too. A year after partnering with the sports entertainment leader, Fanatics Commerce — the brand’s e-commerce, licensed merchandise, and physical retail operations division — officially assumed responsibilities for WWE’s on-site retail transactions on May 1. More than 300 live WWE events per year, including premium competitions like WrestleMania, Royal Rumble, and SummerSlam, will now feature an added punch of Fanatics memorabilia logistics and know-how.

And even as the Boricua buzz gave way to the work week, WWE announced in a Monday release that this edition was the highest-grossing and most-viewed Backlash in the promotion’s history. It also drew the largest audience ever at a WWE event held in Puerto Rico and the largest crowd in the history of the event.

So, amid all these plaudits to celebrate, who knows what’s next for Puerto Rico and their longstanding link with the wrestling business? Here and now, we are already highly confident in saying is just like his significance in music, Bad Bunny will continue to play a special role in WWE’s global operations moving forward — expect to see his tour of high-flying feats to reach the far corners of the world in due time.

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The post The Ecstasy of San Benito: Bad Bunny Reimagines What a WWE Superstar Can Be appeared first on Boardroom.

Charlotte Flair is a 14-time world champion in the pro wrestling ring with more critical plaudits than a Paul Thomas Anderson film and more athletic feats than a night of Tony Hawk’s Pro Skater. As a trailblazer for women in the squared circle, she owns more firsts than the Oklahoma City Thunder. And though her exploits as a “Grand Slam” champion in WWE stand alone, this business is very much a family thing for Charlotte, North Carolina’s queen.

Her father, the inimitable “Nature Boy” Ric Flair, is an all-timer of the highest order. Her brothers were in-ring performers. Her husband, Andrade “El Ídolo,” is a former WWE belt-holder now flying high with AEW. None of them, however, can match Charlotte’s seven appearances at the most prestigious event in sports entertainment, WrestleMania — the latest of which was a bang-bang classic against Rhea Ripley on April 1 that left the jaws of the world firmly placed on the floor.

Naturally, on the heels of WWE’s acquisition by Endeavor, we had to seize the opportunity to speak with her about her groundbreaking career, the evolving state of pro wrestling as a family business, her thoughts on crossing over into Hollywood, and more.

Check out Boardroom’s conversation with Charlotte Flair below, edited for length and clarity.

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SAM DUNN: You just had a huge championship match at WrestleMania 39. WWE just sold to Endeavor. A lot is happening all at once — how are you doing with all this?

CHARLOTTE FLAIR: When it comes to the business side, I feel as a performer, my position isn’t gonna change. Maybe if I was brand new, but my job as a performer is just to make who’s behind the headphones and gorilla happy, and then the fans. I don’t really get wrapped up in what’s happening there, but the sale is a big deal. I’ll be interested to see what happens in the future with Endeavor.

For me, I went from having never any off-days to getting injured last year after WrestleMania and being off for seven months, and then now off again for a couple weeks for something that I needed to take care of, so it’s a blessing and a curse. Like, no one wants to be injured, but having that first time off for that extended amount of time, I think was definitely healthy for my mindset.

SD: When you’re away from that daily grind like this, do you find yourself eventually getting restless?

CF: I like action, to be honest [laughs], But after a month or two, I was like, okay, what am I supposed to be doing? This isn’t fun. I had too much time to think.

SD: You’re coming off an eye-popping showdown with Rhea Ripley for the SmackDown Women’s Championship at WrestleMania. When something big and resonant is happening in that ring, do you feel it?

CF: Let me think about that. Well, at this point in my career especially, that was my seventh WrestleMania, and at all seven I’ve either been the challenger or the champion, and that’s never been done. So, experience-wise, I’m able to go out there and enjoy it; before, I was never in the moment. As time goes on, you get more comfortable, so I was like, yeah, I need to make this memorable. We need to show them why we should have been the main event, that the women can tell stories just as good as the men, work at that level and rate and professionalism.

As a viewer, you will forget the gender as you’re watching us. Not just a good match; it needs to be one of the best matches of the weekend, so I knew that I could do that with Rhea. I had that confidence going out there.

SD: What else was different about this WrestleMania compared to all the others you’ve experienced?

CF: This was a different role, too. Like, I’m usually always the bad guy. But in prior years, I didn’t have that edge or I didn’t have that knowledge to still play that role and do my job and not have some of those “Flair-isms,” like [for] the heel-ness and the bad guy in me to come out. It was my job to portray [Rhea] as the big guy, the dominant guy, the evil one [laughs].

SD: What is Rhea Ripley’s particular energy as a WWE superstar? Just placing the two of you side-by-side, that juxtaposition feels like a fascinating narrative by itself.

CF: I find it as a challenge — and that’s what I was so invested in, the challenge — because it’s easy for me to just go out there, be an arrogant you-know-what. Rhea’s character isn’t necessarily arrogant; it’s edgy. It’s cool. She’s not a heel. You want to portray her as a star; you don’t want to label her as a good or bad guy.

Knowing that, I could make that come to life was such a great challenge for me as a performer and where I’m at. That’s when it gets fun, I’m outta my head just changing some of the things up that I would naturally do in a match. It was a great challenge; I don’t know how else to put it without giving away the magic [laughs].

SD: For a match like that, did you find yourself applying any lessons from your legendary scrap with Becky Lynch and Ronda Rousey at WrestleMania 35 in 2019?

CF: No, totally different situation story-wise, level-wise. We were so hot going into WrestleMania 35 — that story between me, Ronda, and Becky on that Raw when the police were there pulling us apart and fighting backstage I mean, it was wild. Totally different.

The only thing I take is just from being on the big stage so many times. It’s our Super Bowl. So, technically I’ve been to the Super Bowl seven years in a row. My dad loves sports, so he’d be like, ‘You’re like my Tom Brady.‘

SD: I’m glad you mentioned your father, because pro wrestling has this distinctive aura as a family business. The McMahons have been in this for four generations now. Even with the Endeavor deal, it’s got this unkillable familial spirit.

CF: Why is that? That’s wild. I never thought of it that way. The only thing you’re seeing now more — father-daughter combinations, maybe. You see a lot of lineage with the males, but the father-daughter dynamic is still somewhat new. I don’t think that’ll ever go away; I think you grow up wanting to do what your father does or your mom does.

I mean, I didn’t necessarily, but my brothers did. They wanted to do exactly what Dad did. I just ended up somehow doing it in my late twenties, and here I am [laughs]. It was not casual. I don’t know why it’s in the family. Maybe because it’s so unique.

And the women are viewed differently now, so it’s even more like, ‘Oh, I can, I do have the opportunity to do that.’ Not just be eye candy, a secondary storyline, a valet — like no, the women are doing it, and there’s so many schools. Different organizations. It’s all over the world. It’s the one sport that everyone can understand. Good versus bad, and you don’t have to speak the same language. Good guy, bad guy.

SD: Who are some of the women in the business over the years that you most remember watching and enjoying?

CF: I have to be honest, I did not pay attention to the business growing up at all. Like, it was cool to see my dad wrestle, and when they came to Charlotte — because I grew up in Charlotte, North Carolina — my high school senior year, I went to the show where Trish Stratus and Lita main evented Raw for the very first time. It was wild. I was sitting front row for that. So then, exactly 10 years later, the second-ever [women’s] main event of Raw, it was me versus Sasha Banks. So, oh my gosh, maybe subconsciously something was going on. Destiny, fate, I don’t know, but knowing that they did that and sitting front row going, ‘Well, okay, I could do that athletically.”

I’m competitive, but I never saw myself as a show woman or a Diva at that time. I just couldn’t put myself in their shoes athletically — I could, but not on the scale of how they were presented, but then knowing that Sasha and I did that 10 years later exactly. And then I went on to be the first [women’s] main event of a pay-per-view, the first main event of SmackDown, WrestleMania, the first-ever TLC, Last Woman Standing, I had the opportunity to go on to be the first of so many after sitting in that front row. [You] keep that momentum going to where one day, when the girls are main eventing, you don’t go, ‘Oh, they’re main-eventing.’ There’s no more ‘first,’ it’s just a regular thing.

I’m not saying that we don’t have to fight for our spot. I feel like we have to fight a little harder, but it still happens.

SD: With that in mind, knowing you’ve really got an incredible record of accomplishments in that squared circle, is there any bucket list stuff you still want to do in the business that you haven’t had the chance to do yet?

CF: I think now, it’s just getting to that next level. Like, I know that my name is popular within sports entertainment, but I wanna get to that male level of John Cena, The Rock, Batista still. I want to cross over like my dad has so gracefully, and I’ll continue to do that until I get to that point. I hate that I started so late in the game, but I’m here. I think that’s just a matter of time.

SD: You mentioned Sasha Banks, a.k.a. Mercedes Varnado. She’s in the Star Wars universe now on The Mandalorian, which is incredible. What sorts of opportunities do you envision for yourself in Hollywood?

CF: I’d say for the first time in 10 years, I feel like I’m in that spot now where I can look outside the box. I wanted to do all these things and nothing else mattered. Now, okay, I accomplished these. I’m more comfortable, so now, it’s putting myself in positions where I’m not as comfortable. Seeing what happens, what that will look like, whether that’s auditions, where do I fit in what roles, absolutely. Sports entertainment is my home, but [it’s] seeing what I can take from what I’ve learned in the ring elsewhere.

SD: Those big names you mentioned are all attached to at least one huge IP. The Rock has the DC universe and the Fast franchise. Dave Bautista has Marvel. John Cena has DC. Is there a blockbuster property that would be a dream for you? Like, the Game of Thrones world or something like that?

CF: I just want to keep an open mind. It took time for all of them to get to that spot, so for me, it’s just what’s gonna come my way will come my way. I mean, Game of Thrones is awesome [laughs]. I don’t want to limit. I’m up for all opportunities.

Honestly, I don’t have a dream. Like, I didn’t have a dream going into wrestling. I don’t have a dream making this transition, it’s just taking what I’ve learned and all these opportunities and seeing what else I can do if I just put my mind to it. I don’t know what’s next. I just know I wanna take what I’ve tried to do for women in this industry and help keep pushing forward with that.

SD: While you’re exploring who and what Charlotte Flair the action star could truly be, what can you tell me about Charlotte Flair the businesswoman? Who is Charlotte Flair the investor?

CF: I’m very selective. I think I’ve watched my dad go up and down, up and down on different endeavors or investments throughout the years. I think besides the homes that I have purchased along the way in North Carolina and Florida — real estate has been the most effective, the most safe, easy for what I do — but moving forward, I’m kind of looking into what that next investment looks like.

Unless I’m working with a big brand that’s already established, I’m very conservative when it comes to investing in these ideas. I’ve seen all these crazy ideas come to my dad over the years for, like, the last 20 years. He’s attached his name to so many things, and who would’ve thought marijuana was the No. 1-selling thing as of now in 2023, the “WOOOO Chews”? But no, I’m very cautious when it comes to attaching my name to anything that I don’t necessarily believe in.

I’ve worked with Girl Up, an amazing organization for gender equality. Special Olympics, I’ve been with them since I started at WWE. Be a STAR, the anti-bullying campaign. I’ve worked with Cricket Wireless, I’ve done a Snickers commercial, I’ve done Burger King. Those are solid brands that everyone knows that are family-friendly, they’re known all over the world.

SD: Is there a dream brand you haven’t worked with that you’d most like to have as a partner?

CF: Rolex, a hundred percent. Rolex, Range Rover, Nike. Those would be dream endorsements.

The tradition with Rolexes in sports entertainment; once you’ve main evented, you get a Rolex. My mom and dad gave me my first watch when I got my scholarship for volleyball, and then this [points to her wrist] is the watch that Shawn Michaels gave my dad when he retired. So, when I main invented my first pay-per-view, he gave it to me. All the world champions have one usually in WWE, so there’s, like, a little story with it.

SD: Not for nothing, the Flair family has been name-dropping Rolex for a long time.

CF: To represent a brand, you want it to be 100% authentic. People see through that so much.

Project Rock, I think the only female who’s done it is Lindsey Vonn. I think that would be cool. Those are just the ones off the top of my head that are major, major brands. I travel a lot, so anything with Marriott [laughs]. A major gym franchise like Gold’s Gym back in the day would be up my alley. I partnered with Pure [Life] Nestlé before, a water campaign, and any kind of supplement line. A major supplement line for your basic needs for athletes.

Actually, my husband and I for a while were like, ‘Let’s come out with our own hot sauce!’ [Laughs] Yeah, that was a real thing.

SD: I do have one thought about Nike. I don’t think there’s ever been an athlete in pro wrestling with a signature shoe deal like basketball players get, so the “Nike Air Flair” is just waiting to be done.

CF: That sounds amazing. “The Woo Shoe.”

SD: The Woo Shoe!!! That works on multiple levels.

CF: Absolutely. To have the Nike swoosh on my wrestling boots — the Woo Boots.

SD: The brand exposure value for something like that at a pay-per-view show in a full stadium would be off the charts.

CF: That makes me think of Brock Lesnar when he wore a Jimmy John’s logo on his wrestling trunks.

SD: Looking ahead to this weekend, the WWE is headed back to Puerto Rico. There’s such a wrestling history there, including some exciting moments your dad was a part of, and it’s a whole new ballgame with Bad Bunny on this incredible ascent. Do you have any particular thoughts about what that all means?

CF: We actually had a live event in Puerto Rico right when we went back on the road in the summer of 2021. We were in Puerto Rico that fall and the reception was incredible. Wrestling is so big there. It’s one of the old territories. Having Bad Bunny, with him being such a pop culture star right now, it just makes it even more special that he’d wanna be a part of what we’re doing. A crossover with the music industry, I think, is exciting. I’m a little jealous that I won’t be in Puerto Rico for this. I’ve also told Bad Bunny at any time he needs a tag team partner, I’ll be his tag team partner [laughs].

I think it’s exciting. I think it’s great. I think goes to show how big WWE is.

SD: WWE performers have moved into showbiz and become massive global stars, but San Benito is already the most-streamed musical artist and he’s coming into WWE. Who’s ever done that?

CF: And he loves it. You can tell he respects the business, he loves the business. He works really hard and I don’t think he’d be where he is in his industry if he didn’t have the ability to adapt. Our business is not easy, and you could tell how much he loves it and wants to be [here]. He wants to be good at what we do. It’s very admirable.

SD: He’s legitimately good. I think it was The Miz who said one time that Bad Bunny was out here trying and landing moves that he himself wouldn’t have attempted.

CF: It’s just unbelievable how much he’s thrown himself into the sport and wants to be good at it. You don’t see that many people who come from different industries putting that much time into it, and he does.

I know it’s cliché, but it’s inspiring to see someone from another industry and what he can do in a different one, so that’s like me. I’m like, ‘Slowly but surely, I’ll get there.’ Not singing, though, that’s for sure [laughs]. I cannot sing.

SD: How about getting you in a music video, though?

CF: I’ll take a music video. I’ll be the backup dancer.

SD: Okay, let me make some calls. But before I hit up Conejo Malo on his direct line he doesn’t tell anyone about, any parting thoughts as we wind down?

CF: Just if you’re not a fan or [don’t] know anything about sports entertainment in the women’s division, they are a must-watch. Check out a live event. I always say, if you’ve never watched wrestling, the best thing to do is go to a live event because they’re a lot more relaxed and you get to interact more with the talent versus watching Raw or SmackDown on TV. If you have no idea what to expect, go to a live event, because trust me, we’ll be in your city. We’re there all year round.

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The post Holding Court and Making History With WWE Queen Charlotte Flair appeared first on Boardroom.

A year after initially partnering with WWE, Fanatics will take over the wrestling giant’s global event merchandise business and operations, the companies announced on Tuesday.

Beginning May 1, Fanatics Commerce — the company’s e-commerce, licensed merchandise, and physical retail operations division — will take charge of on-site retail sales. The will include more than 300 live WWE events per year, including premium tentpole flagships like WrestleMania, RoyalRumble, and SummerSlam.

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“The WWE has built one of the most incredible global events portfolios across sports and entertainment, and we’re honored that they’ve tapped Fanatics to build on our overarching partnership together,” Molly Adams, Fanatics Commerce’s chief strategic retail officer, said. “Through our expansive global footprint and event retail operations expertise, Fanatics is uniquely positioned to provide an unrivaled event retail experience for WWE’s passionate fans at hundreds of events worldwide.”

Shortly after taking over WWE’s e-commerce business in March 2022, the company boasted record-breaking sales at WrestleMania, RoyalRumble, Money In The Bank, and SummerSlam.

“Fanatics has been an amazing partner and will immediately bolster WWE’s event retail business,” Alex Varga, WWE’s senior vice president, head of corporate development, said. “Expanding our partnership will allow WWE to further expand our offering to fans and grow merchandise revenue in 2023 and beyond.”

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Earlier this month, Endeavor bought a majority stake in WWE. It then merged with the UFC in a deal that valued the wrestling brand at $9.3 billion. The two sports entertainment companies now exist under the ticker symbol TKO on the New York Stock Exchange.

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The post Fanatics to Take Over WWE Live Event Merchandise Operations appeared first on Boardroom.

The Cavinder Twins appear to be taking their talents to WWE. The pair teased a turn to wrestling Thursday on the Today Show, lending support to what many suspected when they announced earlier this week they would forgo their final year of college eligibility.

“We’re very excited about the future with them,” Haley Cavinder said on the show.

Haley and Hanna Cavinder, fresh off leading the Miami Hurricanes to a surprise Elite Eight appearance in March Madness, have one year of eligibility remaining at Coral Cables. While they didn’t say it explicitly, deciding to leave now — after the WNBA Draft and with no hints about the transfer portal — sure seemed to point to their college careers being over.

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WWE is a natural next step for the Cavinder twins. They were among the first WWE Next In Line class, announced when NIL first came into effect in 2021. The program was designed to “recruit and develop potential future Superstars and further [enhance] the WWE’s talent development process,” according to a release at the time. While there was no formal obligation for the Cavinders — or any other Next in Line member — to join WWE after college, the program gave them the opportunity to explore it as a future pathway.

The Cavinders began their collegiate careers at Fresno State, both earning All-Mountain West honors. When the COVID-19 pandemic hit, they turned to TikTok to pass the time. Their massive following then catapulted them into the NIL picture in the summer of 2021. After another season with the Bulldogs, the pair transferred up, joining Miami amid some controversy and what was surely a hefty bag from John Ruiz and Life Wallet. This season, Haley Cavinder led the Hurricanes in scoring (12.2 ppg) while shooting 40% from 3 and 88% from the line. Hanna Cavinder played in 34 games off the bench, averaging 3.8 points over just under 17 minutes per game.

On the WWE side, the company could replace one set of twins with another, just a month after the Bella Twins (now known as Brie and Nikki Garcia) ended their 16-year WWE careers. We don’t know if the Cavinders will stick around quite that long, but they’ll have plenty of professional opportunities regardless.

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WWE‘s long-rumored sale became official Monday when Endeavor bought 51% of the wrestling giant and merged the pro wrestling organization with its UFC MMA promotion to form a new publicly traded sports and entertainment company valued at more than $21 billion, per a company announcement.

The deal valued WWE at $9.3 billion and UFC at $12.1 billion, now combined under Endeavor and previous WWE shareholders, and will be traded on the New York Stock Exchange under ticker symbol TKO. The leading players in both fighting brands will remain in place:

• Endeavor CEO Ari Emanuel will hold the same title with the new company
• WWE Executive Chairman Vince McMahon retains the same position at TKO
• Endeavor President Mark Shapiro will be the new company’s President and COO
• Dana White remains UFC Pesident
• Incumbent WWE CEO Nick Khan will adopt the title of President of the wrestling organization

Additionally, an 11-person Board of Directors is yet to be named — Endeavor will select six members, while WWE will choose five.

“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,” Emanuel in an official news release. “For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together.”

The sale cames a day after WrestleMania, WWE’s signature tentpole event, sold out two nights at Los Angeles’ SoFi Stadium.

As Vince McMahon added on the occasion:

“Given the incredible work that Ari and Endeavor have done to grow the UFC brand — nearly doubling its revenue over the past seven years — and the immense success we’ve already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders. The new company will be well positioned to maximize the value of our combined media rights, enhance sponsorship monetization, develop new forms of content and pursue other strategic mergers and acquisitions to further bolster our strong stable of brands.”

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Endeavor and other suitors, including Saudi Arabia’s sovereign Public Investment Fund and other Middle East-based consortia, emerged in January and February when McMahon — formerly WWE’s largest shareholder — returned to the company to organize a strategic review and explore a sale. McMahon was reinstated as Executive Chairman in January after retiring in July amid reports that he’d paid more than $12 million over the last 16 years to conceal allegations of allegations of sexual misconduct.

Endeavor said a combined UFC and WWE would save $50-100 million per year in annual cost synergies in part by leveraging Endeavor’s back office and infrastructure.

“Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity,” McMahon said. “The new company will be well positioned to maximize the value of our combined media rights, enhance sponsorship monetization, develop new forms of content and pursue other strategic mergers and acquisitions to further bolster our strong stable of brands. I, along with the current WWE management team, look forward to working closely with Ari and the Endeavor and UFC teams to take the businesses to the next level.”

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We’ve seen college athletes sign plenty of name, image, and likeness deals that technically qualify as “unique” or “historic” in some form or fashion, but a week ago, the UFC delivered what can only be described as a first — The world’s biggest MMA promotion announced the signing of University of Iowa wrestler Bella Mir to a brand ambassador partnership, marking the first time a major professional sports league has signed a college athlete to an NIL pact.

Bella Mir, a freshman on the Hawkeyes’ wrestling team, is the daughter of former UFC heavyweight champion Frank Mir. During her time at Centennial High School in Vegas, the 20-year-old ranked sixth nationally in her weight class and won multiple championships. Today, she already boasts a 3-0 record as a mixed martial artist.

As UFC President Dana White said on the occasion:

“Bella was destined to become a member of the UFC family her entire life, and I’m proud that she’s making history as our first NIL ambassador in one of the best programs at the University of Iowa. She’s a four-time state high school wrestling champion who has won jiu-jitsu tournaments and three professional MMA fights before turning 19. Bella is an incredible role model for young women who are not only looking to get into sports, but also pursue their dreams. She’s on another level, and we can’t wait to see what she does next.”

“At UFC, one of our brand maxims is ‘be first’,” UFC Senior Executive Vice President and COO Lawrence Epstein told Sportico this week. “This is another example of UFC leading the way among professional sports organizations… So many of our great UFC athletes came out of college wrestling programs and were All-Americans or Olympians, too. It’s been a natural fit for UFC to support college wrestling, and [Mir’s NIL deal] is just the latest iteration of that.” 

MMA isn’t recognized as an NCAA sport, but they’ve utilized college wrestling as a means to recruit talent, including former two-division UFC champions Daniel Cormier and Henry Cejudo.

“So many of our great UFC athletes came out of college wrestling programs and were All-Americans or Olympians, too,” Epstein said. “It’s been a natural fit for UFC to support college wrestling, and [Mir’s NIL deal] is just the latest iteration of that.”

Other pro sports leagues like the NBA and NFL won’t be able to replicate such a deal because any money offer to a college student or upcoming prospect from the leagues themselves would threaten their eligibility; thus, wrestling and MMA are in pole position to own this space. And while the WWE is a scripted sports entertainment organization, they recently signed Penn State’s Greg Kerkvliet (wrestling) and Nick Dawkins (football) to NIL deals as part of their own expanding college athlete program.

In the case of WWE, Kerkvliet and Dawkins will be part of the “Next In Line” initiative — a program to help the WWE find its future talent while they’re still competing. This enables them to monitor their growth as athletes and opens the door for them to train at the WWE’s Performance Center after graduating.

In the case of Bella Mir, it’s another sign of evolution in the NIL space — not only a pioneer for such NIL deals in MMA fighting, but also in signing women in sports to respective deals. According to a study from Opendorse, 60% of NIL deals — excluding football — involve female athletes.

Watch this space. The NBA, NFL, MLB, and NHL might not be able to execute such a deal as this, but the UFC just capitalized on the NCAA’s inability to recognize MMA as a sport. Expect more in a similar capacity as the worlds of combat sports and pro wrestling find increasingly creative ways to expand their scouting and talent development operations.

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The post Who is Bella Mir, the UFC’s First-ever NIL Athlete? appeared first on Boardroom.

The Kingdom of Saudi Arabia’s sovereign Public Investment Fund has either succeeded or attempted to buy its way into golf, soccer, and pro wrestling. Now, car racing is reportedly in its sights.

A Bloomberg report published Friday maintains that the PIF was willing to offer Formula 1 owner Liberty Media roughly $20 billion, including debt, to purchase the world’s most popular auto racing outfit. That would be an impressive ROI compared to the $4.4 billion the Atlanta Braves owners spent to buy F1 from private equity fund CVC. Liberty reportedly declined the offer, however, not looking to part with a product that’s shown explosive growth over the last five years — F1’s most recent quarterly earnings report in November saw Q3 revenue increase from $668 million in 2021 to $715 million in 2022.

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Even without having the sport to itself, the Saudi royal family has steadily increased its imprint in the sport over the last few years through the petroleum-funded PIF. The F1 Saudi Arabian Grand Prix debuted in 2021 in Jeddah and is expected to remain on the schedule through at least 2027. Saudi Aramco is a partner with F1, including as a sponsor of Aston Martin‘s racing team; the Public Investment bought a minority stake in Aston Martin Lagonda Global Holdings plc last year.

It’s already been a big year for the PIF, which officially expanded is breakaway LIV Golf competition for 2023 and recently secured a media rights deal to broadcast matches in the US on The CW. It completed its purchase of Premier League side Newcastle United, and is understood to be a potential suitor to purchase WWE if the company ultimately decides to sell.

A Saudi Arabia F1 takeover isn’t moving ahead — for now — but this latest wave of sportwashing isn’t going away. If there’s a sports league or entertainment brand around the world with enough eyes on it, it appears increasingly likely that Saudi Arabia will at least consider putting in a blockbuster bid to acquire it.

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The post Liberty Media Declines Massive Saudi Arabia F1 Bid from Sovereign Public Investment Fund appeared first on Boardroom.

WWE Executive Chairman Vince McMahon is under fire yet again. This time, it’s from a group of equity stakeholders that nobody would’ve ever expected: The Detroit police and fire pension board.

McMahon, who retired in 2022 following an investigation into alleged sexual misconduct involving four female employees, returned to WWE earlier this month to, among other things, help to negotiate a new and mega-lucrative media rights deal — and perhaps something much bigger. Soon after, daughter and Chairwoman/co-CEO Stephanie McMahon resigned from the company entirely. To cap things off before the dust even had a chance to settle, Vince was/is reportedly interested in selling WWE and taking the company private, with Saudi Arabia’s sovereign Public Investment Fund rumored to be among the interested bidders.

Perhaps most uncanny news surrounding McMahon in the past month, however? Police officers and firemen in Detroit, Michigan suing him via class action, as first reported by Sportico.

So, what in the world do these two opposing parties have to do with one another?

Well, as noted by Detroit Fox TV affiliate WJBK, the pension board for city police officers and firefighters invested $100,000 from its fund into the WWE, making it one of many shareholders in the company. Like so many others, board members are upset about McMahon’s surprise return as Executive Chairman after previously stepping aside and retiring over a hush money scandal regarding multiple alleged extramarital affairs.

“What I want Vince McMahon to do is for Vince McMahon to leave the company,” Councilman Coleman Young said via WJBK. A member of Detroit’s Police and Fire Retirement System board, Young said that investing retirement fund money into the WWE is “absolutely” a good decision as it’s an impressive company, but quite simply, “I think the problem is the behavior of Vince McMahon.”

In the class action suit, Detroit’s pension board contends that McMahon — WWE’s majority shareholder for decades — left the company in July of last year after he allegedly paid $12 million in secret settlements to accusers dating back to 2006, and that he used his controlling shareholder interest to fire board members and change bylaws to regain control of the company.

“I personally think that any time you hear the words sexual assault and rape, you need to stop what you’re doing and disassociate yourself from that person in your company,” Young said, additionally expressing concern over loose talk about a possible WWE sale to the Saudi Public Investment Fund or even an unforeseeable but nonetheless rumored merger attempt by wrestling rival AEW. (For the record, Vince McMahon is facing no criminal charge of sexual assault and there is no evidence that such a related criminal investigation is ongoing.)

In any event, we’ve gone from “You’re fired!” to “I’m sued!”

Where to next?

Expect more news to trickle in as this pro wrestling saga rolls on into 2023.

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The post Why Did a Bunch of Detroit Cops and Firefighters Sue Vince McMahon? appeared first on Boardroom.

This past week, the WWE has hosted a different sort of Royal Rumble — and it hasn’t been pretty.

Just days after Vince McMahon announced his controversial return as Executive Chairman, which coincided with daughter Stephanie McMahon’s resignation as the company’s Chairwoman and co-CEO, a Friday report from CNBC maintains that AEW (All Elite Wrestling), the second largest wrestling promotion in the United States after the WWE, is interested in a potential merger with its rival.

(However unlikely that may be — and it’s quite, quite unlikely.)

First, rumors emerged about a potential sale of World Wrestling Entertainment to Saudi Arabia’s sovereign Public Investment Fund in a deal that would have taken the publicly-traded company private. Now, we catch wind of a possible hail mary heave from AEW, which is owned by the family of Shahid Khan, also owners of the NFL’s Jacksonville Jaguars and the Premier League’s Fulham FC. A partnership between these two wrestling promotions would conceivably include shared intellectual property and media deals in addition to a merger of talent rosters — AEW currently has TV rights deals with Warner Bros. Discovery’s TNT and TBS cable networks, while WWE airs on USA, Fox/FS1, and NBCUniversal’s Peacock streaming service.

It’s worth noting that this comes shortly after the company hired (1) the Raine Group as a financial advisor, (2) Kirkland & Ellis LLP as legal advisor, and (3) August LLC as strategic communications advisor to support any WWE sale process.

“There can be no assurances given regarding the outcome or timing of the strategic alternatives review process,” read a company news release dated Jan. 12. “WWE does not intend to comment further until the process has concluded or the Company has otherwise determined that further disclosure is appropriate or required.”

Despite all this, CNBC notes that the potential merger or acquisition is not exactly foreseeable, citing how AEW hasn’t had any actual talks with Vince McMahon or WWE CEO Nick Khan — no relation to Shahid — but the AEW’s owners are “open to discussing a potential role for McMahon” should a deal go through. McMahon, 77, had long been the company’s central creative force with regard to WWE’s storylines before he first stepped away, while Shahid Khan’s son Tony, currently serves in a similar capacity for AEW in addition to his roles as President, CEO, and General Manager.

As things stand, media giants Comcast, Endeavor, and Netflix are among those most frequently mentioned as potential suitors should McMahon and Co. proceed with a WWE sale. While the longtime exec “retired” last year during an ongoing investigation in which a special committee probe discovered that he had paid nearly $15 million to four women to silence allegations of sexual misconduct. McMahon remains the company’s single largest stockholder, paving the way to a return on what very much appear to be his terms. He has since voiced how stakeholders would “support” the decision.

WWE shares are up 30% so far this year, with the company’s market capitalization sitting at $6.6 billion alongside $1.28 billion in revenue over the past year. AEW, meanwhile, is reportedly on pace to generate more than $100 million in revenue for 2022.

Missed Boardroom’s interview with AEW President Tony Khan? Click here to read the full story.

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• Everything is On the Table for Maverick Carter, Paul Rivera & The Shop
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The post As Potential WWE Sale Process Advances, is Rival AEW Throwing a Hail Mary? appeared first on Boardroom.

Wrestling Twitter was set ablaze Tuesday evening as the rumor mill began to spin regarding an earth-shaking business decision that would constitute the biggest heel turn of Vincent Kennedy McMahon’s career.

Which is saying something.

The gist was this: After retiring from the WWE in July 2022 in the wake of a hush money scandal regarding alleged extramarital affairs, Vince suddenly willed his way back into the center of the business this week, with board members unanimously electing him as Executive Chairman. This coincided with the resignation of his daughter, Stephanie McMahon, from her roles as Chairwoman and Co-CEO of the company.

Then, things got really juicy: Several insiders — a few of whom have since deleted their initial tweets on the matter — noted rumors pointing to Vince McMahon quite possibly (1) taking the publicly traded company private and (2) selling it to Saudi Arabia’s sovereign Public Investment Fund.

To be clear, there’s no evidence to suggest that any such pen-to-paper deal is in place, as many pundits and observers have noted:

And yet, the rumors persist.

The prevailing conventional wisdom upon the 77-year-old Vince McMahon’s surprise return was that he was dead-set on positioning himself in the middle of imminent WWE media rights negotiations, as well as a possible sale of the business. And while his restoration to the Board was ultimately not to be denied, it’s worth noting a couple of key details:

• Before unanimously voting him into the Executive Chairman role following Stephanie McMahon’s resignation, all Board members, including Stephanie and husband Paul “Triple H” Levesque, put in writing their opposition to Vince’s return
• As a publicly traded company, there are several legal and regulatory hoops WWE would have to jump through successfully in order to go private or effect a sale, to say nothing of shareholder accountability

There’s an incredible amount of palace intrigue afoot here, and there’s a ton we don’t know. But with WWE’s stock currently outperforming just about every other media and entertainment company under the sun, it’s clear that “Mr. McMahon” remains uninterested in allowing any pro wrestling gravy train to exist that doesn’t feature himself as conductor.

And given his existing relationship with the Saudi authorities through official WWE events in the Kingdom like Crown Jewel, as well as the increasingly aggressive pursuit of “sportswashing” through the repressive, authoritarian nation’s Public Investment Fund in the form of LIV Golf and the purchase of Premier League football club Newcastle United, it would be anything but out of the question that the brazen businessman would want to go such a route as a final l’état c’est moi moment to cap off his career.

But for now, though there are plenty of reasons these days to run around like your hair is on fire, we have permission to pump the brakes on what is or isn’t a foregone conclusion regarding a WWE Saudi Arabia sale.

For now.

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The post Is Vince McMahon Selling WWE to Saudi Arabia? Here’s What You Need to Know appeared first on Boardroom.

Vince McMahon will re-assume his role as executive chairman of WWE, he announced on Thursday. McMahon, 77, retired in July as the company’s CEO and chairman, following an investigation into alleged sexual misconduct involving four female employees. Now, he’s set to return to guide WWE through the media rights negotiation process.

His filing, which is effective immediately, puts McMahon, Michelle Wilson, and George Barrios on the board and removes independent directors Alan Wexler, JoEllen Lyons Dillon, and Jeffrey Speed.

“The only way for WWE to fully capitalize on this opportunity is for me to return as Executive Chairman and support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives,” McMahon said in his announcement. “My return will allow WWE, as well as any transaction counter-parties, to engage in these processes knowing they will have the support of the controlling shareholder.”

WWE will now brace for considerable blowback. McMahon “retired” last year during an ongoing investigation in which a special committee probe unveiled that he’d paid nearly $15 million to four women to silence sexual misconduct allegations against him. But McMahon is the largest stakeholder in the company, thus his power overruled any sort of objection to his return. He voiced how stakeholders would “support” the decision.

McMahon wrote the following on Dec. 20:

“I believe WWE has a unique opportunity during this critical juncture to maximize value for its shareholders and all other stakeholders. Specifically, given the rapidly evolving media landscape in which more and more companies are seeking to own the intellectual property offered on their streaming platforms — I firmly believe that the best thing to do for all of WWE’s shareholders and other stakeholders is to undertake a comprehensive review of strategic alternatives. I am confident that our other shareholders will support this decision.”

“Mr. McMahon can effectively exercise control over our affairs,” the company said in a November regulatory filing.

Shares of the company jumped 10% after hours following McMahon’s announcement. While temporarily retired, his daughter Stephanie and former company president Nick Khan became co-CEOs. He also appointed son-in-law Paul Levesque — better known by his wrestling name “Triple H” — as Chief Content Officer and Head of Content.

The board reportedly pushed back on McMahon’s attempted return, but to no avail.

Read More:

• ChatGPT, Voice Engine, Sam Altman & More Updates from OpenAI
• From March Madness to Man United: Brands Make Fan Dreams Come True
• Everything is On the Table for Maverick Carter, Paul Rivera & The Shop
• Boardroom Talks: Amar’e Stoudemire Always Understood the Game
• CNBC x Boardroom Game Plan Summit Returning in 2024

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The post Vince McMahon to Return as WWE Executive Chairman appeared first on Boardroom.

“I think I’m cute, I know I’m sexy.”

Female fawning and the lyrics to “Sexy Boy” boomed through the PA system at Molson Centre, overpowering a packed house charge by boos of both spellings. All at once, a look of shock washed over the face of Bret “The Hitman” Hart.

Staring back was an arena full of fellow Canadians who had just seen their local legend lose. Panning closer to the ropes was WWF bossman Vince McMahon, suddenly fully aware of what he’d just done.

Only moments before Shawn Michaels’ theme song overpowered the arena, McMahon had screamed, “Ring the bell! Ring the bell!” as a means to reroute the title match.

“I got the looks, that drives the girls wild.”

In a state of awe, Hart knew exactly what had just happened, though he had many a man’s word that it wasn’t going to happen at all.

Trusting associates he’d had for ages despite an overriding eery feeling leading into the match, his longtime employer and arch-rival had lied to his face, pulled strings behind his back, and embarrassed him in front of the fans that worshipped him.

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“I got the moves, that really move them.”

Beat by Michaels for the WWF Heavyweight Championship belt, the San Antonio stud forced Hart into an unscripted “submission” by using his own leg lock, The Sharpshooter, in The Hitman’s native land.

In an essence, it was as if Allen Iverson got his ankles broken by Luka Doncic in Philly, losing Game 7 of the NBA Finals by way of a killer crossover.

“I send chills, up and down their spines!”

Rolling out of the ring, Michaels made his exit while his theme song “Sexy Boy” — sung of course, by him — continued to play over the PA. Spoiling Hart’s homecoming and WWF curtain call, the infamous “Montreal Screwjob” seen at Survivor Series on Nov. 9, 1997, still stands as one of the most scandalous subjects in sports entertainment history.

Twenty-five years later, Boardroom breaks down the inside baseball that turned professional wrestling absolutely upside down.

The Spirit of Competition

On the surface, Bret “The Hitman” Hart and Shawn “The Heartbreak Kid” were natural rivals.

Occupying a similar territory with an opposite approach, both title toters emitted a gravitational pull where fanfare was concerned, packaged in a rock star sheen. Hart was big, brash, and tough while Michaels was bold, arrogant, and athletic.

Fighting for space like Shaq and Kobe, their dissimilar upbringings and over-the-top workspace made them opposing figures in the ring and locker room.

Deep behind the scenes, there was an even bigger rivalry going down.

Pro wrestling kingpin Vince McMahon was atop of the family business, having held the helm at the Worldwide Wrestling Federation since 1980.

Over the course of the ’80s, he helped break box office favorites like Hulk Hogan and”Macho Man” Randy Savage, making them larger-than-life characters idolized through VHS tapes and action figures.

For years, McMahon was competing with pro sports, TV sitcoms, and movies for fanfare. By the mid-90s, he was competing with Eric Bischoff.

Ascending in the ’80s at the American Wrestling Association, Bischoff broke through the ranks of wrestling from a humble salesman to an on-air personality. By 1991, he was working at the newly formed World Championship Wrestling, tasked with shaping storylines and stealing WWF talent.

Quickly, he proved good at both. In a matter of years, Hogan, Savage, and Ramon were all on WCW payroll, making more than they did for McMahon and rebranded in edgier fashion for a new generation. Bischoff was playing with McMahon’s pride and his pockets.

Over the course of 1996, WWF and WCW were at war for ratings. Trust meant more and less all at once as top talent took meetings with Bischoff for a taste of more money and energized writing. By that spring, the tides were turning.

At March’s Wrestlemania, Shawn Michaels took the WWF heavyweight title from Bret Hart as a means for the elder Canadian to take a much-needed break. As Sex, Lies, and Headlocks recounts, Hart wanted to pivot into acting but struggled to get parts.

By October 1996, Hart returned to the ring rather than the movies. The catalyst? A massive 20-year deal with WWF.

McMahon and Hart had agreed on a new contract that would pay him $10.5 million over the course of two decades. Already in his 30s, the partnership promised to transition Hart into a scriptwriting role as he aged out of the action. He was set for life, and McMahon had kept another top talent from jumping ship.

Months in, however, McMahon was having second thoughts.

Hoping Hart’s return would put an end to the WCW rise, fans were no longer flocking to TV just to watch the “Hitman” in action. At the same time, a Manhattan-based investment house was courting McMahon, advising him to take WWF public. To do so, he’d have to rid his business of any long-term burdens, the biggest being Hart’s contract.

Less than a year into the life-changing contract, McMahon told Hart he couldn’t afford to keep him. He advised Hart to take the money at WCW. To no surprise, he did.

Backed by Turner, WCW and Bischoff were able to offer Hart a reported $2.5 million a year. Though the money wouldn’t be as long as the two-decade deal McMahon muffed, it was still much more annually for a short stint and better than nothing.

Heading into Survivor Series, Hart had an easy exit set up, starring in the biggest match of the night for his last day on the job for McMahon.

Or so he thought.

“High-Level Espionage”

Every so often in culture, generational talents make movements that absolutely wash away a former guard.

In music, Nirvana’s grunge rock sound nullified the massively popular hair metal movement, rendering arena acts as corny and commercialized almost overnight. In basketball, both the scoring point guard and the stretch big made conventional 1s and 5s suddenly extinct.

Entering the fall of 1997, wrestling was about to see the same shift.

Since the beginning of time, pro wrestling stars were built off stereotypes seen in culture as a means to ignite fans. From tropes of race to workplace dynamics, all walks of life were characterized in cartoonish fashion with superhero pageantry. Funny enough, it all proved profitable and family-friendly until it suddenly wasn’t.

At WCW, Bischoff built a brand of brash defiance embodied by the New World Order — a legion of ex-pats plucked from WWF made to appear and act like a motorcycle gang. This edgy appearance proliferated around the company, turning up the dial on attitude in a manner that felt less like a fairytale and more like an action movie.

It was a smart weapon of choice for Bischoff, but ultimately a weapon formed against him.

While Wall Street aimed at taking WWF public, McMahon publicly made his family-friendly brand more and more like its competitor, pushing the limits so far that WCW started to look like PBS. Atop the early transition was going all in on Shawn Michaels, the baby-face favorite who was now the leader of McMahon’s answer to nWo: D-Generation X.

Rebranding Hunter Hearst Helmsley — a smug equestrian strongman — as Triple H, the buff blondes formed forces with an amazon named Chyna. Representing rebellious youth, the defiant trio took sticking it to opponents of all walks to new heights. Wearing black leather jackets and telling authority to “suck it,” fans of all ages publicly chopped their hands towards their private parts as a pledge of allegiance toward the Michaels mantra.

Suddenly, Shawn had the whole world wrapped around his waistline.

Prior to Hart’s botched WWF deal, Michaels was said to be the highest-paid pro at his company. After Hart’s sabbatical and a new contract, his money more than doubled that of the “Sexy Boy” breadwinner. At Survivor Series, all wrongs were set to be righted with Hart having a 13-year run come to an end at home in Canada, offering a kosher curtain call as he left for WCW to pursue money McMahon had gone back on.

However, Hart didn’t want to lose to Michaels in front of his home country.

The plan was for Hart to walk out a winner and then relinquish the title belt. The problem was that tension between Hart and Michaels had been mounting for months behind the scenes and in the press. If Hart walked away a winner and made his WCW debut the following week with the WWF title in tow, it would be humiliating for McMahon.

So, the boss called in a fix.

In what was later described as “high-level espionage” by Triple H in an hour-long A&E documentary spotlighting the infamous event, the plan was made by McMahon to have referee Earl Hebner call the match as a tap-out with no knowledge passed on to The Hitman.

For Hart, it was assumed that his own crew, The Hart Foundation, would run in mid-match to cause a ruckus as would D-Generation X. The result would be a forfeit with no true loser and the belt changing hands after Hart left the WWF.

Obviously, that’s not what happened.

In a mid-match sequence where Michaels put Hart in his own Sharpshooter leg lock as a way to rise the tension, McMahon screamed from the sideline for Ebner to ring the bell. He did, to the shock of a speculative Hart and chagrin of WWF forces in fear of a WCW embarrassment.

Hart was stunned and disgusted in the moment, with McMahon making out like the biggest bad guy in sports entertainment. Michaels had his title and a new era of Jerry Springer dialogue and parental advisory warnings at WWF was in full swing.

The Attitude Era had begun.

Playing Dirty

When the wrestlers returned to the locker room in Molson Centre and “Sexy Boy” had stopped playing in the speakers, anger spread amongst the WWF veterans.

Around the company, friends of Hart felt betrayed. How could a loyal company man and superstar be screwed by both his boss and a colleague in front of his own country? Even if all were about to get paid, was there any way to properly right this wrong? In the world of pro wrestling, such matters were not up for litigation by a lawyer or the court of public opinion.

To settle things for the moment, Hart had to punch his former boss in the face.

Accepting a fist to the jaw in private after giving a corporate kick in the pants in public, McMahon let Hart hit him square in the mouth as he fell to the ground. A longtime commentator turned head of the business, now Vince himself was in on the actual action even if the fans couldn’t see.

Quickly that would change.

As the Attitude Era unfolded, the biggest bad guy in WWF would not be mountainous men like Kane or The Undertaker. Rather it would be Vince McMahon: the animated boss set to screw his employees. Playing foil to “Stone Cold” Steve Austin, Dwayne “The Rock” Johnson, and even Shawn Michaels, the real-life narrative of McMahon’s shrewd business move would play out in animated scripted form night after night.

Fans loved to hate Vince, and Vince loved the drama it created. Whether you rode with D-Generation X or The Nation of Domination, everyone had a common enemy in the man that wrote the checks and screwed Bret Hart.

Funny enough, it was that man and all his existing employees that were getting richer off of it all.

By April 1998, WWF was back on top. Over at WCW, Hart had more money coming in annually, enjoying the perks of a raise and more creative control. Sadly, a string of injuries and what some considered lackluster storylines kept things from ever hitting the commercial heights hit in younger years.

On Oct. 19, 1999, the WWF launched an IPO on the heels of the Attitude Era. At the time of typing, the company trades for $75.77 a share though the entire enterprise was valued at $172.5 million when it first went public.

Heading into the 2000s, WWF continued to climb, rebranding to WWE and eventually returning to its original niche of family-friendly content. In that decade, both Bischoff and Hart would work with McMahon after years of bad blood. Both are members of the WWE Hall of Fame and are revered by fans in their own right.

On Dec. 28, 2009, Hart and Michaels made up in the ring on live television, calling for a truce and exchanging hugs. For months of programming, the Montreal Screwjob was used as a storyline to build drama on-screen between McMahon and Hart.

Though the two were never friends in the same fashion ever again, they are said to be on speaking terms.

In 2022, 25 years after the Montreal Screwjob, the biggest brand in pro wrestling is once again at a turning point. Vince McMahon has been removed from the company while new leadership looks to rekindle the magic it once had.

Perhaps it will come in the form of the recently relaunched XFL. Or maybe another Attitude Era is on the way.

Controversy has proved a powerful pivot for the company before but after all these years, even those inside wonder at what cost.

Read More:

• ChatGPT, Voice Engine, Sam Altman & More Updates from OpenAI
• From March Madness to Man United: Brands Make Fan Dreams Come True
• Everything is On the Table for Maverick Carter, Paul Rivera & The Shop
• Boardroom Talks: Amar’e Stoudemire Always Understood the Game
• CNBC x Boardroom Game Plan Summit Returning in 2024

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The post The Business Behind the Montreal Screwjob appeared first on Boardroom.

Kanye West Signals Donda Sports Expansion with New Trademarks

Kanye West has had quite the week. The rapper and entrepreneur parted ways with Gap, two years into a 10-year contract. Additionally, a Rolling Stone profile went behind the scenes of West’s controversial new school, as he revealed in an interview that he hasn’t “read any book.” Now, according to TMZ, West is looking to expand his Donda Sports enterprise to include merchandise. Recent trademarks highlight filings for both Donda Sports that would cover a wide range of apparel items. Ye filed a separate trademark for Dove Sports, which would cover a number of educational products, including camps, classes, and seminars.

App State Caps “College Gameday” Debut with Hail Mary Win

It’s been quite a few weeks for Appalachian State football. They kicked off the season with a 61-63 loss to UNC, but turned things around by stunning No. 6 Texas A&M. The surprise win summoned ESPN‘s College Gameday to Boone, NC for the first time in history as the team prepared to take on Troy. As the school promised to give out scholarships for the best pre-game signs, the team looked to keep its luck alive. It did not disappoint. Quarterback Chase Brice linked with Christan Horn for a 53-yard Hail Mary as the clock expired to beat Troy 32-28.

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Logan Paul Will Face Roman Reigns at WWE Crown Jewel 

Logan Paul is stepping up his WWE career. The YouTuber-turned-combat-fighter will face Roman Reigns at the WWE Crown Jewel event, which will take place in Saudi Arabia. Paul had made his desire to face Reigns known on WWE’s popular Smackdown. Triple H confirmed the fight the very next day. The matchup is scheduled to go down on Nov. 5.

Cousin Sal Brings His Bets to the Omaha Network

Jimmy Kimmel and Bill Simmons long-time collaborator Sal Iacono is known for his big bets. Cousin Sal and his Mush Media are teaming up with Peyton Manning’s Omaha Productions. The new series of programming will feature all seven of Mush Media’s shows, including Iacono’s popular Against All Odds. Omaha Productions expanded into podcasts earlier this summer and has acquired an impressive lineup of talent, which includes Vince Carter and ESPN’s Mina Kimes.

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The post Canelo Alvarez Rounds Out Trifecta of GGG Fights with Win appeared first on Boardroom.

35V & WWE Invest in Premier Lacrosse League

Paul Rabil and the Premier Lacrosse League have their eyes on growth. The PLL announced that it closed a fundraising round led by the Chernin Group, which attracted a wide range of investors including WWE and Kevin Durant and Rich Kleiman’s 35V. The money will fuel the next phase of growth for the company, which seeks to expand internationally. 

Paul Rabil joined Rich Kleiman last year on the Out of Office podcast to discuss the development of the league and his hopes for the future. Click to listen.

Rams Super Bowl Ring Commemorates Historic Moments with Legendary Bling

Training camps may have opened this week, but the Los Angeles Rams are still reveling in their Super Bowl victory. To commemorate their win, Justin of Beverly Hills crafted a unique ring. The shape of the bling mirrors the team’s home field, SoFi Stadium. The ring has 20 carats, a nod to the stadium’s 2020 opening, and 1.12 carats of round diamonds to mark the tri-fold significance of January 12, which is the date the team was approved to move to LA in 2016, hired Sean McVay in 2017, and won its first playoff game in its new home in 2019.

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Drew Brees Gets into the Game with Pickleball Investment

Drew Brees is gaming out his next steps in the NFL media landscape. As rumors swirl that he’ll join the Amazon Thursday night team,  the Super Bowl winner is staying in the game. Brees announced that he has joined the ownership team of professional pickleball squad, the Mad Drops Pickleball Club. He is joined by Lakers’ part-owner Jimmy Buss.

LeBron James, Uninterrupted “Lineup” with Grey Goose

King James has welcomed the best of the best to the set of The Shop. Now, LeBron and friends are spinning off a new short-form series sponsored by Grey Goose called The Shop: Lineup. Similar to the original, the show will feature all-star guests, sipping Grey Goose cocktails and discussing the state of current events.

Coinbase Doubles Down on WNBA Investment with Liberty Sponsorship

Coinbase is all in on the WNBA. The cryptocurrency company announced that it will become the first-ever official cryptocurrency partner of the New York Liberty. To kickstart the partnership, the two will pair up for a “Futures Night” which will celebrate the possibility of basketball and the blockchain. 

Aaron Judge, Julio Rodriguez Headline Fanatics & Topps Project100 Season 2 

Fanatics Collectibles and Topps have teamed up for the second season of the popular Project100 trading card collection . This edition sees artists Chuck Styles, Daniel Jacob Horine, L’amour Supreme, Lauren Martin, and Smithe One creating cards to celebrate Mike Trout, Aaron Judge, Julio Rodriguez, Shohei Ohtani, and more. The collection drops on July 28. 

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The post Charles Barkley Sets Sights on LIV Pro-Am appeared first on Boardroom.

Paige Bueckers Gets Comfortable with Crocs

Paige Bueckers is staying busy this off-season. The UConn standout was seen courtside with teammate Azzi Fudd at the Celtics/Warriors game last week, chopping it up with Steph Curry in the postgame. Now, Bueckers announced her newest NIL deal, linking with Crocs. This isn’t Crocs’ first foray into the college game – the company announced a partnership with Oregon‘s Sedona Prince just last week. The former Player of the Year also has deals with StockX, Gatorade, and Cash App.

Russell Westbrook & OBJ Dip into Magic Spoon’s $85M Series B

Magic Spoon is looking to upgrade your cereal game. The company, which claims to make a healthier cereal alternative, closed an $85 million Series B and scored a deal that will bring it to the shelves at your local Target store. The round was led by HighPost Capital and attracted a deep bench of investors including Nas, Shakira, Russell Westbrook, and Odell Beckham Jr., and brings the company’s total fundraising efforts to $100 million. 

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Pharrell’s Something in the Water Festival Finds Streaming Home with Prime

This weekend, Pharrell Williams’ festival brainchild will be reborn. The Something in the Water Festival is heading to Washington, DC, claiming its new home and bringing people together for the first time since 2019. The star-studded lineup includes Justin Timberlake, SZA, J. Balvin, and Lil Baby. Now, you don’t have to miss out on the action even if you can’t make it to the nation’s capital. Prime announced that it will stream the festival — making it available to everyone, everywhere. The move represents Prime’s revived investment in broadcasting live shows, as evidenced by their partnership with Tyler, the Creator, who will also be making an appearance in this year’s lineup.

WWE Takes Home Top NIL Award and Taps in Second Class of “Next in Line” Athletes

This week some of college sports’ biggest stars are gathering in Atlanta for the first-ever NIL Summit. Last night, The Action Network’s Darren Rovell hosted the first annual awards. The WWE took home the Brand of the Year honor for its “Next in Line” program, which brought on a number of athletes for its inaugural class that included NIL standouts Hanna and Haley Cavinder, as well as Olympic champion wrestler Gable Steveson. Yesterday, the WWE revealed its second cohort, tapping 15 athletes from 14 schools. Boardroom broke down all the details for the second class.

G League’s Scoot Henderson Inks Historic Deal with Puma

Scoot Henderson leaped into the G League, signing a two-year contract with Ignite after his junior year of high school. Along the way, the 18-year-old standout caught the attention of Puma. On Monday, the footwear giant announced that it had signed Henderson. The deal represents its largest contract for a non-draft eligible player, according to Shams Charania. Sources report that the deal is worth seven figures, with the potential to rise to eight pending conditional items. Henderson is projected to go in the top three of the 2023 NBA Draft. 

Diddy Will Receive Lifetime Achievement Honor at BET Awards

It’s like Diddy once said, he ain’t goin’ nowhere. This year’s BET Awards will honor the mogul with the Lifetime Achievement Award. The artist formerly known as Puff Daddy will be recognized for his three-decade career that spans music, fashion, television, and business. Diddy recently announced the launch of LOVE RECORDS, and, this summer, plans to release his first album since 2006.

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The post Draymond Green Seeks to Round out His Game with “The Sessions” appeared first on Boardroom.

Believe it or not, we are just a couple short weeks away from entering Year Two of the name, image, and likeness era in college sports.

For WWE, that means announcing its second class of athletes for its NIL (in this case, “Next in Line”) program. Among the 15 Division I athletes is Hampton defensive end KeShaun Moore, who becomes the first HBCU athlete to enter the program.

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In all, the 15 Next in Line athletes, who will be officially announced Monday night at the first annual NIL Summit in Atlanta, come from 14 colleges and universities, seven conferences, and seven sports. Gymnastics, cheerleading and dance, volleyball, and men’s basketball are all represented for the first time.

WWE’s NIL program first launched last December with an inaugural class that included NIL standouts Hanna and Haley Cavinder, as well as Olympic champion wrestler Gable Steveson.

The program itself is all about developing relationships with WWE’s selected athletes through partnerships and activations during their college careers. The athletes have access to WWE’s Performance Center in Orlando and the company’s “brand building, media training, communications, live event promotion, creative writing and community relations” resources, according to an official release.

At the end of the program, the athletes are eligible to receive a WWE contract. The release states that all six of last year’s graduating WWE NIL athletes have either signed a contract with WWE or are in discussions to do so on a full-time basis.

The full list of athletes in WWE’s second NIL class can be found below:

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The post Introducing WWE’s New Class of ‘Next In Line’ NIL Athletes appeared first on Boardroom.

Carmelo Anthony Pours Into New Wine Label Seventh Estate

What do Chris Paul, Dwyane Wade, and Carmelo Anthony have in common? In addition to being generational hoopers, each has channeled their love for wine into an up-and-coming business venture. Of those, Melo was one of the earliest to the game. Now, he’s launching his own label Seventh Estate. It will debut its first release, Oath of Fidelity, later this year.

Nike Co-founder Phil Knight Submits $2B Bid for Blazers

Nike co-founder Phil Knight is known for his big-dollar donations to the athletic departments of his alma maters at the University of Oregon and Stanford. Now the Shoe Dog has submitted a bid to enter the pro-sports ownership ranks. The Portland Trailblazers confirmed that Knight bid for the team, which is not currently for sale. Reports estimate the value of the bid, which he placed in partnership with Dodgers co-owner Alan Smolinisky, to be around $2 billion.

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Donovan Mitchell, Adidas Team up for Rucker Park Takeover

The Spida is coming to New York City. Donovan Mitchell announced on Thursday that Team adidas will take over Rucker Park’s legendary street ball series this summer. The official partnership will focus on the game, while also offering corresponding community outreach throughout the summer series. 

Lisa Salters Inks a Multi-year Extension with ESPN

Game 1 of the NBA Finals is in the books, and the Celtics staged a dramatic comeback on the road to go up 1-0 on the Warriors. The broadcast included on-point analysis from ABC’s on-court reporter, Lisa Salters. The gig arose on the same day as she secured a multi-year extension with ESPN, which will place her on the sidelines of NBA and NFL games for years to come. She maintains her reign as the network’s longest-serving NFL sideline reporter with the extension.

Ric Flair is a Natural for the Documentary Treatment

The Nature Boy is one of wrestling’s most iconic figures. The WWE announced that it is working on a two-hour documentary about the life and times of Ric Flair. The film, which is being produced in collaboration with Flair and FOX Sports reporter Tom Rinaldi, will reveal some never-before-known facts about the rise and relevance of the wrestling icon. 

Cleveland Cavaliers Tap Daniel Arsham for New Branding Blitz

What is old is new again in Cleveland. On Thursday, the Cavs revealed exclusively to Boardroom that they are giving their logos and branding a facelift for the upcoming season. The new logos, designed by the team’s creative director Daniel Arsham, give the Cavs a fresh look with a subtle nod to the past. The revised logo utilizes the deep gold of the LeBron era, switching in for the mustard yellow of recent years. Later this summer, the team will reveal its Statement, Icon, and Association jerseys.

Lonzo Ball Launches NFT with Michael Jordan’s HEIR, Inc. 

Heir, Inc has taken off. The Web3 community platform created by Michael Jordan and his son Jeffrey, launched its first athlete membership NFT on Tuesday. The collection tips its hat to the newest generation of Chicago Bulls stars, as it features Bulls guard and HEIR investor Lonzo Ball. HEIR worked in partnership with Chicago legend – and former Kanye West collaborator – Don C to create the artwork for the limited release.

Overtime Elite and Shopify Power up the Next Generation of Creators

Young hoopers who join the innovative Overtime Elite open the doors to a whole world of new possibilities. Now, with the help of Shopify, they will be able to launch their own brands, establishing themselves as young entrepreneurs. Bryce Griggs, Jalen Lewis, Jai Smith, Jahzare Jackson, and Ausar and Amen Thompson will launch their direct-to-consumer brands through Shopify’s new creator program. While they are the first OTE stars to do this, they’ll follow in the footsteps of NBA great Jimmy Butler, who utilized the platform to launch his BIGFACE coffee brand. 

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The post LeBron James Leaps to Billionaire Status  appeared first on Boardroom.

Jomboy Media, the four-year-old viral sensation multi-media company, announced a $5 million funding round on Thursday, led by Connect Ventures — an investment partnership between CAA and New Enterprise Associates.

A star-studded list of sports and entertainment icons joined Connect in the raise, including Alexis Ohanian, the WWE, Dwyane Wade, Gabrielle Union, Billy Crystal, C.C. Sabathia, Karl-Anthony Towns, Trea Turner, Josh Hader, Noah Syndergaard, and Quinn Cook. This comes 13 months after Jomboy raised $1 million from investors including Christian Yelich, Ian Happ, Trevor Plouffe, and Patrick Schwarzenegger.

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As part of the new funding, CAA executive and Connect investor Adam Friedman will join the Jomboy Media board.

“Connect Ventures is a perfect partner for Jomboy Media,” Jomboy founder Jimmy O’Brien said. “We are really excited about their ability to scale the Jomboy Media brand across multiple verticals. We’ve enjoyed working with their team as Jomboy Media is already on track for its biggest year ever in 2022. I believe so deeply in what we can become and I love that we have a partner who shares the same enthusiasm for the future and wants to support our company in getting there.”

The new funding will be used to expand into all major North American sports, develop original content for TV and streaming platforms, develop new IP for Jomboy Media’s channels, create podcasts, produce live events around tentpole sporting events, and acquire marquee talent to join the company. Jomboy also announced a partnership with SeatGeek last month as its popularity grows among the coveted Gen-Z demographic.

Jomboy Media currently has 1.5 million YouTube subscribers, several of the top podcasts in baseball, and a Twitter account with more than 500 million impressions in April, per company figures. The company also said revenues increased four times between 2019 and 2020 and 500% from 2020 to 2021.

“What [O’Brien] has built in a brief period of time is quite impressive,” Friedman said.  “His ability to become the ‘people’s voice’ is only the beginning, and just a small part of his larger vision for what we all believe Jomboy Media will become. We are excited to be on this journey with him and the team.”

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The post Jomboy Media Lands $5 Million Raise with Alex Ohanian, Dwyane Wade On Board appeared first on Boardroom.

Frank Gore Makes Moves Towards 49ers Front Office

Frank Gore is an anomaly these days as a runner who remained productive for 15 NFL seasons. The 38-year-old workhorse fullback is reported to be signing a one-day contract with the San Francisco 49ers, coming home to the team where he spent 10 seasons. Following his retirement, Gore will reportedly join the Niners’ front office. Throughout his career, Gore accumulated countless accolades, including five Pro Bowls, second-team All-Pro, and 2010s All-Decade Team. 

Stone Cold Steve Austin Returns to Form at Wrestlemania

The first night of Wrestlemania 68 is in the books, and it was a night to remember. Among a full slate, the highlight of the evening occurred when Kevin Owens took to the ring at AT&T Stadium and talked his trash about Texas. He was soon confronted by Lone Star legend Stone Cold Steve Austin who looked to be in vintage form, defeating Owens. The night also featured strong performances from The Miz and Logan Paul who teamed up to defeat The Mysetrios. The match of the night though went to the women, as Bianca Belair took down Becky Lynch in the Raw Women’s Championship. 

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Washington Commanders Face Scrutiny in Ticketing Distribution

Turns out that a name change will not eliminate missteps of the past. The new name Washington Commanders are under Congressional investigation after questions were raised in regards to their distribution of ticket profits. The investigation claims that the Commanders withheld ticket profits from visiting teams. Details continue to emerge about the situation.

Who Is Favored To Win at the 64th Annual Grammys?

Tonight, the biggest names in music will assemble in Las Vegas for the 64th Grammy Awards. Jon Batiste leads all artists with 11 nominations, securing his place as a central point of the cultural zeitgeist. Although the event has received increased scrutiny in recent years and will be missing some of the industry’s biggest names, it is still considered as the marquee event of the music world. Boardroom dove deep into the odds for the evening’s biggest categories.

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The post UNC to Meet Kansas for NCAA Title, Coach K Rounds Out Iconic Career  appeared first on Boardroom.

Bitcoin Surges as Market Cap Reaches $2.1T

It’s been a tumultuous year for cryptocurrency. Following the freeze of the “crypto winter” earlier this year, the value of cryptocurrencies everywhere have been volatile. However, things appear on a general upswing, as Bitcoin eclipsed $47,000 once again, climbing close to its quarterly high of $47,730 where it began 2022. Similarly, Ethereum is also back on the up-and-up, which has it valued over $3,300. Overall, the crypto market cap has jumped beyond $2.1 trillion.

Jacob & Co. Launches Out of This World NFT Collection

For years, Jacob the Jeweler has been the go-to jeweler for the influential tastemakers of sports and entertainment. And now, Jacob & Co. is taking its talents to the metaverse with the new “Astronomia Metaverso” collection. The jeweler has teamed up with NFT marketplace UNXD for the limited collection of digital collectibles and one-of-a-kind watches based on the planets. In total, there will be eight designs rooted in each of the planets, and there will be varied availability of both the physical and digital representations. The NFTs will also unlock exclusive in-person and virtual events.

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WWE and Fanatics Team up for Extended Partnership

The renaissance of the WWE has arrived. After logging $1 billion in revenue for the first time, the wrestling organization’s stock continues to surge, up 22% this quarter. Now, the Connecticut-based brand has linked with Fanatics for a multi-year, wide-ranging deal that will span NFTs, collectibles, merchandise, and more. The financial details of the partnership are not available at this time.

Binance Re-ups Investment in Metaverse Gaming Company Ultiverse

Binance is doubling down on its visions for the future. After co-leading a fundraising round for the metaverse gaming company Ultiverse, the cryptocurrency exchange invested an additional $5 million, bring its total investment near $10 million. The second round was led by DeFiance Capital, Three Arrows Capital, and SkyVision Capital. The follow-along investment will allow Binance to “have a some sort of say” in the gaming company’s future, according to Binance Labs chief, Nicole Zhang. 

Max Verstappen Takes Home Saudi Arabian GP Title

The Formula 1 season is off to a spectacular start. Max Verstappen raced to the top spot on Sunday, as he took home the title at the Saudi Arabian GP. Oracle’s Red Bull Racing team leader made good on his massive off-season contract, securing his first win of the young racing season. He was followed by Ferrari’s Charles Leclerc and Carlos Sainz Jr., rounding out the top three. Mercedes’ Lewis Hamilton placed a disappointing 10th after a dismal qualifying performance. 

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The post Stephen Curry, Shaquille O’Neal Take Home Oscar for ‘Queen of Basketball’ appeared first on Boardroom.

Manchester City Lands Crypto Partnership with OKX

Man City is currently sitting on top of the Premier League and the club secured another win this week. Manchester City inked a partnership with Seychelle-based crypto exchange OKX, marking the company’s first foray into sports. As part of the deal, OKX will link with Man City’s men’s and women’s clubs and its esports outfit. The news comes the same week as Barcelona announced that it had struck down crypto sponsorship offers and plans to develop its own cryptocurrency. 

Billie Eilish Steps into the Metaverse 

We are just a month away from Billie Eilish’s headlining performance at Coachella. But first, the Gen Z darling is making her way to the metaverse. The singer-songwriter filed two new trademark applications for both her name and her iconic Blohsh logo, indicating that she is preparing to dip into the world of Web3. The trademarks cover a wide range of virtual goods from NFTs to video game software. Eilish is signed to Interscope, which is part of the Universal Music Group family, and announced its own NFT collection in collaboration with Billboard just one day earlier.

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WNBA Announces National TV Schedule Ahead of New Season

The WNBA is so important. The league began to lock in for its 26th season, as it released its national TV schedule for the upcoming season, which tips off in May. The W will broadcast 25 games across ABC, ESPN, and ESPN2. Diana Taurasi, Brittney Griner, and Skyler Diggins-Smith will grace televisions everywhere with a league-leading eight scheduled games. 

Jack Harlow Jumps into Hollywood With Iconic Role Reprise

A young Woody Harrelson and Wesley Snipes launched their careers as an unlikely pair with a love for hoops. Now White Men Can’t Jump is returning to the silver screen with an updated cast featuring one of the decade’s biggest breakout stars. Jack Harlow has been tapped to play the Harrelson role in the upcoming film, which will be produced by black-ish creator Kenya Barris. 

Sweetgreen Surges with Most Profitable Quarter Since Public Launch

Fast food does not get much healthier than Sweetgreen. The salad chain went public last November and has a number of athletes invested as equity partners, including Naomi Osaka and Isiah Thomas. The earnings report posted higher-than-expected numbers and projected strong sales for 2022. Shares spiked 17% following the news.

WWE Looks to Tap In Newest Star with Upcoming Tryout

In advance of April’s Wrestlemania 38, the WWE is looking to find its next big star. It has invited over 50 student-athletes from around the country to come to Dallas for a three-day tryout. The WWE launched its first cohort of student athletes , including the Cavinder Twins and Olympic gold medalist Gable Steveson, as part of its “Next in Line” program.

Yahoo Lands Exclusive Coverage of Paolo Banchero and Chet Holmgren in Advance of March Madness

In its first year, the variations of name, image, and likeness opportunities continue to develop. Yahoo Sports announced on Thursday that it has struck a first-of-its-kind exclusive media coverage deal with college basketball stars Paolo Banchero and Chet Holmgren. Additionally, the Duke and Gonzaga stars will serve as the faces of the Yahoo Sports Tourney Pick’em bracket game and help activate the experience across their social media platforms. In exchange, Yahoo Sports gets exclusive coverage with them throughout the tournament.

Pete Davidson Set to Join Blue Origin Moon Trip

These days, Pete Davidson is the undeserving target of a lot of anger directed from Kanye West. In a quest to escape, Davidson is reportedly joining Jeff Bezos‘ Blue Origin space team for a trip to the moon. The New York Post reports that Davidson will join a growing list of celebrities to make the trip. Late last year, NY Giants legend Michael Strahan joined the crew. The specific details of Davidson’s adventure are continuing to unfold at this time.

DoorDash Delivers with MLS Partnership

The MLS season kicked off last weekend, but things are only getting started. The league announced its newest partnership on Thursday, tapping DoorDash as its official on-demand delivery platform. DoorDash will invest heavily in the future of the sport, pledging $150,000 annually to help support the MLS NEXT program.

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The post Michael Jordan Mints New NFT as Part of HEIR Venture appeared first on Boardroom.

TurboTax and Coinbase Team Up to Allow Crytpo Tax Refunds

Tax season is upon us. As you prepare your returns in the run up to April, this year you’ll have a new option for your refund. TurboTax, the popular tax preparation platform, will allow users to receive their refunds in cryptocurrency through an exclusive partnership with Coinbase. Don’t have a crypto wallet yet? Don’t worry! We’ve got you covered – learn everything you need to know about how to get yours set up. 

WWE Surpasses $1B in Profits with Historic Year

The WWE is back. The organization posted its fourth-quarter earnings, which revealed the most profitable year in history at $1.1 billion. It was the first time that the WWE eclipsed $1 billion without adjusting for inflation. Revenue also increased by 30% to $310.3 million. As it looks to the future, the WWE anticipates continued growth through a number of avenues of potential expansion, including licensing in international markets. 

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Lewis Hamilton Makes Social Media Appearance, Hints at F1 Return

The Mercedes-AMG Petronas Formula One Team had begun to prepare itself for the departure of its star driver from the sport. However, on Saturday, Sir Lewis Hamilton returned to social media after an extended hiatus, simply captioning the photo, “I’ve been gone. Now I’m back!” the Formula 1 season is set to kick off in Bahrain in March, and insiders believe that the 37-year-old Hamilton will be back behind the wheel. 

Bubba Wallace Prepares for Daytona with New Apparel Line with Columbia 

All eyes are on Daytona and the starting line of the NASCAR season. One of the best drivers in the sport, Bubba Wallace, revealed his new partnership with outdoor sportswear company Columbia. The collab includes a new clothing line — The Bubba Wallace Collection — featuring colors from 23XI Racing . Wallace becomes the first athlete with a signature collection for the outdoor sportswear company. This season marks Wallace’s second with Michael Jordan’s 23XI Racing, and in recent years, he’s assembled a deep portfolio of sponsors. In addition Columbia, Wallace is endorsed by Toyota, McDonald’s, Door Dash, Dr. Pepper, and more.  

Listen to Bubba Wallace in conversation with Rich Kleiman on the Out of Office podcast.

Tianna Hawkins Goes Off in Athletes Unlimited Play

Week Two of Athletes Unlimited basketball has proven to be just as fun and dynamic as the opener. Tianna Hawkins’ 38 points – 17 of which came in the fourth – lifted Team Brown over Team Russell 98-85. Hawkins will serve as team captain for the Gold Team next week, as her play qualified her for the league’s ultimate honor. Last week, Hawkins signed a free agency deal with the Connecticut Mystic. 

The post Liz Cambage is Leaving Las Vegas, Commits to Sparks appeared first on Boardroom.

To help close out 2021 in style, The Nature Boy is diving head first into NFTs. Legendary pro wrestler Ric Flair has announced a partnership with the Rumblin’ Roosters Fight Club NFT community for a set of 1,000 unique Nature Boy Roosters that will be minting in the days to come.

At that point, it will be time to rumble.

Naturally, The Naitch was excited to share the news.

This is all part of a new chapter for Flair, who requested and was granted a release from his contract with the WWE in August. As he said on Renee Paquette’s “Oral Sessions” podcast, “there was no animosity whatsoever. It was just business. I wanted to try something and they just had a different vision [WWE wanted me] to just get paid, basically. A lot of money. Nothing was wrong with that.”

Right on cue, the WWE inked a multi-year deal with Fox Entertainment’s Blockchain Creative Labs to launch an NFT marketplace for licensed digital WWE tokens and collectibles.

With this latest news from RRFC, Flair won’t have to miss out on the non-fungible token action.

What is Rumblin’ Roosters Fight Club?

RRFC is a gamified NFT community of 10,000 “Rumblin’ Roosters” issued via smart contract on the Ethereum blockchain. Owners can enter their NFT roosters into Fight Club throw-downs and compete for various prizes and perks.

Each of the 10,000 Rumblin’ Roosters was offered for 0.04 ETH ($164.13 as of this writing) at retail, and features a randomly generated assortment of 180 different traits, from eyes, beaks, and feathers to clothing, headgear, and accessories.

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The post Ric Flair’s NFTs are Ready to Rumble appeared first on Boardroom.

On Wednesday, the WWE signed 15 college athletes to name, image and likeness deals, rounding out its first-ever class of up-and-coming amateur talent. The sports entertainment promotion’s new program is designed to “recruit and develop potential future Superstars and further [enhance] the WWE’s talent development process,” per an official company release. 

As part of the deals, all 15 athletes will have access to the WWE performance center in Orlando, Florida. They will also have access to resources to help with brand building, media training, live event promotion, creative writing, and community relations.

And when the athletes complete the NIL program, some may have the opportunity to earn a full WWE contract. 

The athletes the WWE has signed come in all shapes and sizes and from all corners of the NCAA. There are Fresno State basketball’s Cavinder twins, Haley and Hanna, who both stand 5-foot-6, and Aleeya Hutchins, a 5-foot-5 Wake Forest track and field star. On the opposite end, there are giants like John Krahn, a 6-foot-10, 400 pound-offensive lineman at Portland State, and Dalton Wagner, a 6-foot-9, 330-pound lineman at Arkansas.

In the middle are basketball players, wrestlers, and track athletes of all stripes. Check out the full list here:

• Carlos Aviles (Ventura, California), a 6-foot-6, 305-pound track and field athlete at Ohio State
• Haley Cavinder (Gilbert, Arizona), a 5-foot-6 basketball player at Fresno State
• Hanna Cavinder (Gilbert, Arizona), a 5-foot-6 basketball player at Fresno State
• AJ Ferrari (Dallas, Texas), a 6-foot, 200-pound wrestler at Oklahoma State
• Lexi Gordon (Fort Worth, Texas), a 6-foot basketball player at Duke
• Aleeya Hutchins (Toronto, Ontario), a 5-foot-5 track and field athlete at Wake Forest
• John Krahn (Riverside, California), a 7-foot, 400-pound football player at Portland State
• Glen Logan (Kenner, Louisiana), a 6-foot-5, 305-pound football player at LSU
• Isaac Odugbesan (Lagos, Nigeria), a 6-foot-4, 275-pound football player at Alabama
• Mason Parris (Lawrenceburg, Indiana), a 6-foot-2, 275-pound wrestler at Michigan
• Masai Russel (Potomac, Maryland), a 5-foot-5 track & field athlete at Kentucky
• Jon Seaton (Hillsborough, New Jersey), a 6-foot-1, 285-pound football player at Elon
• Joe Spivak (Lombard, Illinois), a 6-foot, 300-pound football player at Northwestern
• Dalton Wagner (Spring Grove, Illinois), a 6-foot-9, 330-pound football player at Arkansas
• Riley White (Hoover, Alabama), a 5-foot-6 track & field athlete at Alabama

This move to sign 15 college athletes to NIL deals is the WWE’s second step in the NIL space. Its first came in September when the organization signed heavyweight freestyle wrestler and Olympic gold medalist Gable Steveson to a multi-year deal. Steveson will graduate from college in May and upon graduating his contract with the WWE will begin. 

“We all saw his physical ability prior to and at the Olympics,” Nick Khan, WWE’s president and chief revenue officer, told ESPN. “What we also saw was that Gable has as much charisma as he does ability. Marketability and ability are both of great importance to us.”

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The post Meet the WWE’s Inaugural College NIL Class appeared first on Boardroom.

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Baron Davis Invests in Delivery Service FastAF

The NBA All-Star is building his investment portfolio – announcing earlier this week that he was joining Paul George in the pre-seed round for the “Discord for sports betting’ app Chalkboard. And on Wednesday, it was revealed that he is investing in Fast AF, a delivery service specializing in high-end drinks, food, and workout equipment, which seeks to compete with the Whole Foods demographic.

Isiah Thomas Appointed Chairman of the Board at One World Products

The NBA great was announced as Executive Chairman of the Board of Directors at One World Products, at Black-controlled, fully-licensed cannabis and hemp producer. Earlier this year, Thomas invested $3 million in the Colombia-based company. 

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Ralph Lauren Brings Winter to the Metaverse with Roblox

Ralph Lauren is skating into the metaverse. The iconic American fashion brand announced on Wednesday that it has partnered with Roblox to create an all-digital winter collection. The outfits can be used to customize avatars in the game’s Winter Escape, available through Jan 3. Ralph Lauren previously staked a plot in the metaverse earlier this year, with its installation on Zepeto, which has drawn 1.5 million visitors.

USA Basketball Introduces Cheryl Reeve as Women’s Coach

Cheryl Reeve got the promotion of a lifetime on Wednesday as the Minnesota Lynx coach and GM was officially introduced by USA Women’s Basketball as its newest head coach. Reeve has previously served as an assistant to Dawn Staley, who had served as the coach since 2017 and led the team to a 52-2 record culminating in a gold medal at last summer’s Tokyo Olympics. 

Tiger Woods Comeback Set for PNC Championship

It’s been a year since his terrifying accident, but Tiger Woods is ready to return to golf. On Wednesday, the 15-time major champion announced that he will play his first public match next week at the PNC Championship, where he will play alongside his 12-year-old son Charlie. Woods told the press last week that he will never play full-time on the PGA Tour again, but anticipates playing in select events. All eyes will be on Orlando to tune into his triumphant return. 

BlueChip Teams Up with Julian Champagnie and Jacob Barry as First NIL Athletes

Brand-building platform BlueChip has revealed its first NIL athletes. BlueChip, a platform that helps athletes across the world of sports build and monetize their personal brands, announced its first two college NIL athletes Wednesday. The distinction belongs to St. John’s Red Storm basketball player Julian Champagnie and LSU Tigers baseball player Jacob Berry, who will now have access to a broad range of resources as they develop their brand footprints through apparel and products with a personal, fan-first touch. They join Victor Cruz, Mike Moustakas, and Ashley Cole as part of the BlueChip family.

Click here to read more.

Tracy McGrady Nets Multiyear Partnership with Playmaker

The seven-time All-Star announced on Wednesday that he will partner with the sports media and management brand. As part of their collaboration, McGrady will serve as a strategic consultant and investor and will host various sports and sports betting programs on Playmakers’ various social media streams. 

University of Maryland Enters Official Partnership with PointsBet

The Terps became the first Big Ten athletic program to establish a sports betting partnership, announcing Wednesday that it has reached a multiyear agreement with PointsBet USA. As part of the collaboration, PointsBet will offer in-game and campus activations, as well as educational programming about gambling. There will also be a philanthropic element to the partnership, which will be revealed at a later date. 

Paradigm Sports Empowers Clients with NFT Ecosystem

Paradigm Sports announced the launch of MintPS, an NFT ecosystem that enables collaboration between creators, athletes, and entertainers, spanning the digital, physical, and metaversal worlds. The move makes them the first sports management group to launch something like this, thus creating opportunities for its clients to monetize their crafts and creativity in new ways. 

Rafal Nadal and Richard Mille Celebrate 10 years of Collaboration with New Timepiece

The 20-time grand slam champion is no stranger to beautiful wristwear, having debuted a million-dollar Richard Mille on the court earlier this year. The two have teamed up for the launch of the fourth edition in their collaboration, the RM 35-03 Automatic Rafael Nadal, which includes the custom movement winding capability. 

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The post WWE Taps in 15 Athletes for Next in Line Program appeared first on Boardroom.

WWE Turns to Colleges to Identify Future Stars with Next in Line Program

The WWE has a long-standing tradition of turning college athletes into stars, just look at former Miami defensive lineman The Rock. Now, the WWE revealed the Next in Line program on Thursday, which will provide comprehensive support to promising college athletes to help them develop into the next stars of the ring. Student-athletes will receive access to the WWE Performance Center, as well as brand building, media training, and more. 

100 Thieves Closes Out Funding Round with $460M Valuation

The gaming and esports company has had a huge year, which included partnerships and crossovers with the likes of Lil Nas X, Gucci, and StockX. The Los Angeles-based 100 Thieves announced Thursday that they completed a Series C round, raising $60 million from investors and bringing the business to a $460 million valuation.

Click here to read more.

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John Madden Documentary Gets Christmas Day Release Date

Legendary coach John Madden is the most recent sports icon to get the documentary treatment with “All Madden,” which is set to premiere on Fox on Christmas Day. The film focuses on his coaching and broadcasting career, and how he revolutionized the video game industry and features interviews from Tom Brady, Patrick Mahomes, Joe Montana, Bill Belichick, and more.

PSA Acquires Card Valuation Platform Card Ladder

Rounding a huge year, PSA is adding even more power to its card valuation process. Its parent company, Collectors Universe, announced the purchase of Card Ladder, an online price guide and analytics platform. The details of the purchase are unknown at this time. 

North Face and Gucci Unveil Collaboration

Winter is coming and this year you don’t have to sacrifice fashion while you bundle up. The Italian luxury brand dropped its second collaboration with the San Francisco-based outdoor retailer, which includes a puffer jacket, overalls, and a fanny pack.

OBJ Joins CLMBR as Investor and Brand Ambassador

The at-home fitness company, which boasts the “most efficient full-body workout,” announced on Thursday that the Rams receiver is their most recent brand ambassador. The news comes on the heels that CLMBR has also signed a deal with the UFC and the machines will be included as part of athlete training. Jay-Z and Novak Djokovic are among the company’s early investors. 

Washington Capitals Link with Cameo for Charity

This holiday season, the Washington Capitals are teaming up with the app, which allows users to request personalized videos from their favorite celebrities and influencers for a pre-determined fee, to launch the “Caps for a Cause” program. The earnings gained from the program will go directly to the charity of each player’s choice. A message will set you back about $100, but you’ll have to shell out a little bit more for superstars Alex Ovechkin and T.J. Oshie.

Will Smith Takes Home First Award for King Richard Performance

Awards season is nearly upon us. And while we’ll have to wait a bit for Oscar nods, on Thursday The National Board of Review released its full list of winners. Will Smith nabbed the Best Actor honors for his portrayal of Venus and Serena Williams’ father Richard in Reinaldo Marcus Green’s “King Richard.”

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The post Adidas Blasts into Metaverse with Bored Ape Reveal appeared first on Boardroom.

Kobe Bryant, LLC Files Multiple Trademarks for “Mamba Vino” Wine Brand

The Kobe Bryant brand appears to be moving into the world of wine and spirits. Four applications were submitted to the US Patent and Trademark Office on Nov. 5 by Kobe Bryant, LLC and signed by Vanessa Bryant for “Mamba Vino,” Boardroom has learned via trademark attorney Josh Gerben of Gerben Law. The requested trademarks are for “MAMBA VINO 2024,” “MAMBA VINO 24,” “MAMBA VINO 8,” and “MAMBA VINO.”

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BetMGM Becomes the Official Sports Betting Partner of Madison Square Garden 

BetMGM is in a New York state of mind. The sports betting company was among the nine selected as New York’s mobile betting partners on Monday, and on Tuesday they announced their partnership with MSG Sports and MSG Entertainment. As part of the deal, BetMGM will extend various opportunities for content integration and brand awareness at the iconic Madison Square Garden and becomes the official betting partner of the New York Knicks and the New York Rangers.  

UFC and The Memento Group Ink Multi-year Memorabilia Deal

UFC announced on Tuesday that The Memento Group (TMG) will serve as their global distributor of collectibles for years to come. TMG will produce limited-edition items – from fight-worn gloves and fight kits to fight night posters and photographs signed by UFC athletes. In addition, UFC and TMG will also jointly launch an online marketplace in January 2022. 

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Julius Randle Pledges $500 per Three-pointer to Bronx School

New York Knicks star Julius Randle pledged to donate $500 for each 3-pointer he makes for the remainder of the season to the Earl Monroe New Renaissance Basketball School as part of the #30 FOR 3! program, he announced on Tuesday. The funds will support the school’s literacy and math programs. The All-NBA forward made 171 triples during his 2020-2021 campaign.

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Minnesota Twins Select 10 Start-ups for Tech Accelerator

The Minnesota Twins are making some off-season moves. The team announced the first class of its Tech Accelerator program, conducted in partnership with the seed accelerator Techstars. Ten technology, sports, and entertainment startups will receive funding, mentoring, and various workshops to help them advance their missions. The program will culminate in a showcase in February 2022.

Aaron Rodgers, Allen Lazard, and Packers Fined for COVID Violations

The league announced on Tuesday that quarterback Aaron Rodgers, wide receiver Allen Lazard, and the Green Bay Packers each incurred fines related to violations of COVID protocols jointly agreed upon by the NFL and the NFL Players Association. The news comes in the wake of an investigation launched last week that revealed both players failed to wear masks in the team’s facility and had attended a Halloween party – individuals who are unvaccinated are not allowed to gather in groups greater than three per the protocols.

WWE, PGA TOUR to Serve as Key Advisors to NBCUniversal’s Startup Accelerator Program

The NBCUniversal SportsTech Accelerator offers start-ups and entrepreneurs the chance to receive world-class training as they seek to transform the world of competitive sports. Each organization selected receives individual mentorship from an advisor company throughout the duration of the accelerator’s run. And on Tuesday, the WWE and the PGA TOUR were announced as the most recent additions to an expert roster of partners, which currently includes NBC Sports, Sky Sports, GOLF, Comcast Spectator, US Cycling, US Ski and Snowboard, USA Swimming, and NASCAR.

Click here to read more here.

Personal Training App Ladder Raises $6.5M in Seed Round

The future of personal training is set to get a lot more accessible. LivWell Ventures led the successful funding round for the app, which provides users with the expertise of a personal trainer and the flexibility of an at-home fitness option. Investors include retired NFL wide receiver Danny Amendola and the founder of Athletic Brewing Bill Shufelt. 

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The post Coach K Tips Off Final Season as No. 9 Duke Beats No. 10 Kentucky, 79-71 appeared first on Boardroom.

The WWE and the PGA Tour are joining the Comcast NBCUniversal SportsTech Accelerator program as advisors, Comcast NBCUniversal announced Tuesday.

They join an impressive group of expert partners that includes NBC Sports, Sky Sports, GOLF, Comcast Spectator, US Cycling, US Ski and Snowboard, USA Swimming, and NASCAR. SportsTech’s second rising class of startups officially joins the program in February, with each receiving individual mentorship from an advisor company throughout the duration of the company’s run.

“Disruption is in our DNA. Considering SportsTech’s innovation categories from fan engagement to venue and event innovation, we’re extremely excited to invite these disruptive entrepreneurs into our organization and identify ways to enhance our fan experience and introduce the sport to a new generation,” said Rajan Mehta, WWE’s executive vice president and chief product and technology officer.

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Run in partnership with Boomtown Accelerators, Comcast NBCUniversal SportsTech is a 12-week accelerator program that welcomes companies and entrepreneurs across the worlds of sports and technology looking to create solutions that will transform competitive and professional sports. The program especially welcomes ideas across eight investment categories

• Media and entertainment
• Fan/player engagement
• Athlete/player performance
• Team and coach success
• Venue and event innovation
• Fantasy sports and betting
• Esports
• Sports business

“By embracing emerging technology solutions through the Comcast NBCUniversal SportsTech accelerator, we aim to continually elevate the experience that we provide to our athletes and fans, so that people of all backgrounds encounter an authentically welcoming environment across our game,” said Lance Stover, PGA Tour’s senior vice president of new ventures.

Comcast SportsTech accelerator selected 10 startups from a pool of more than 1,000 applicants for its inaugural cohort earlier this year. The inaugural class secured 16 business deals with Comcast and accelerator partners, and that deal count has more than doubled today to 30. Comcast and Boomtown invests $50,000 into each selected company, and the second cohort for the accelerator will be announced on Feb. 22, 2022.

“We’re thrilled to welcome PGA Tour and WWE, two iconic global sports and entertainment brands, into our Comcast NBCUniversal SportsTech partner consortium to engage with these entrepreneurs as they seek to change the way consumers experience sports,” said Jenna Kurath, Vice President, Startup Partnerships at Comcast and Head of Comcast NBCUniversal SportsTech. “This shared commitment to developing the next generation of sports technology builds upon NBC Sports’ longstanding and trusted partnerships with both organizations, from partnering with the PGA Tour to deliver unparalleled live tournament coverage, to Peacock being the exclusive home of the WWE Network for fans across the country.”  

Startups selected to the SportsTech accelerator will gain valuable access to PGA Tour and WWE business leaders on top of those currently involved with the program.  SportsTech’s advisors have helped founders develop deep industry relationships that can translate into measurable results for their businesses.  

The post WWE, PGA Tour Join NBCUniversal’s Startup Accelerator Program appeared first on Boardroom.

Fanatics Stays Golden with Olympics Deal

The retail giant announced on Thursday that it has struck a deal with the International Olympics Committee. The deal will begin with the 2024 Paris games and extends through the 2028 Olympics in Los Angeles and marks the first international deal for the Florida-based company, which has a valuation of $18 billion. 

Mavs Make Voyager Digital Official Crypto Partner

The Dallas Mavericks have inked a five-year deal to make Voyager Digital the team’s first cryptocurrency brokerage and international partner. The exclusive partnership announced Wednesday is expected to include educational and community programs, global activations, and fan engagement promotions.  

Abigail Montes Hands Claressa Shields First-ever Combat Loss

The two-time Olympic gold medalist lost Wednesday’s PFL World Championship finale to the 21-year-old Montes in a split-decision loss. The rising Mexican star maximized Shields’ inexperience in the cage, utilizing the fence and establishing control over the 26-year-old, who was fighting just her second MMA match. 

WNBA Veteran Alana Beard to Spearhead Oakland-based Ownership Group Eyeing Expansion

Former WNBA champion and 4-time All-Star Alana Beard will lead an ownership group that hopes to bring an expansion team to Oakland. The 15-year veteran has teamed up with the African American Sports and Entertainment Group and have presented their intentions to the league via letter to Commissioner Cathy Engelbert. They will hold a virtual press conference on Thursday at 1:00 p.m. EST to announce the bid. 

WWE to Launch New Line of NFTs

Fox Corp. and WWE are joining forces to launch a new marketplace to sell NFTs. The multi-year partnership between the WWE and Fox’s Blockchain Creative Labs will include NFTs of popular wrestlers, iconic moments, live events, and much more. 

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NFLPA Announces DRIVEN Program to Boost Diversity in Sports Licensing

The NFL Players Association (NFLPA) announced a new business accelerator program on Wednesday aimed at addressing the debilitating impact of “sideline culture” on the emergence of people of color and women as leaders in the sports licensing space. The DRIVEN program will select three businesses led by individuals from underrepresented backgrounds that will receive mentorship, research, and development, product creation, marketing support, consultation from partners and athletes, and coaching sessions to help them navigate and thrive over a two-year period.

J.J. Watt Faces Shoulder Surgery

The Arizona Cardinals look to stay unbeaten tonight as they face the 6-1 Green Bay Packers at home. However, they will do so without J.J. Watt. ESPN’s Adam Schefter reports the star defensive end will have surgery on an injured shoulder that is likely to bench him for the remainder of the season. The Packers’ No. 1 and 2 receivers, Davante Adams and Allen Lazard, will also be missing in action on Thursday due to COVID protocols. 

NBA Veteran J.J. Redick Tips Off Next Chapter with ESPN

After announcing his retirement from the league late last month, NBA journeyman J.J. Redick revealed his newest role: ESPN analyst. Redick will join various studio and radio shows across the network, while also serving as an in-game analyst for select matchups. It won’t be the first foray into media for the 15-year veteran, as he’s the co-founder of ThreeFourTwo Productions and the co-host of the popular “Old Man and the Three” podcast.

Packers Get Approval to Sell Stock for Lambeau Field Improvements

The NFL has given the Green Bay Packers approval for a potential stock sale, paving the way for future improvements at Lambeau Field. The Packers have had five stock sales in the team’s history, occurring in 1923, 1935, 1950, 1997, and 2011. The 2011 sale, in which fans could purchase a stake in the team at $250 each, netted $67.4 million. 

Barcelona Sacks Coach Ronald Koeman

Barcelona fired its coach Ronald Koeman on Wednesday, just 18 months into his tenure with the club. The news comes on the heels of their 1-0 loss to Rayo Vallecano and an overall underwhelming start to their La Liga season. 

World Series Game 1 Viewership Up 17.5% Over Last Year

Game 1 of the World Series between the Atlanta Braves and Houston Astros drew an average of 10.81 million viewers on Fox, a 17.5% increase over last year’s Game 1 between the LA Dodgers and Tampa Bay Rays. The total number of viewers was actually 11.07 million when combining viewers on Fox, Fox Deportes for Spanish-language coverage, and Fox’s streaming apps. 

The post Houston Ties Series with 7-2 Win in Game 2 appeared first on Boardroom.

Cards Win Streak Ends at 17

The St. Louis Cardinals saw their 17-game winning streak come to an end Wednesday night following a 4-0 loss to the Milwaukee Brewers. The streak was the longest in the bigs since Cleveland won 22 straight in 2017. 

NCAA to Use March Madness Branding for Women’s Tourney

The NCAA announced Wednesday it will use March Madness in all marketing and branding for the Women’s basketball tournament starting this season. The use of the phrase “March Madness,” which has been synonymous with the men’s tournament for years, was recommended in an external review of gender equity issues of the tournaments released over the summer.

Ohtani Shut Down from Pitching for Rest of Season

Los Angeles Angels two-way superstar Shohei Ohtani will miss his next scheduled start in Sunday’s season finale against the surging Seattle Mariners, manager Joe Maddon announced Wednesday. Ohtani, who is in the running for AL MVP, will continue to hit this week in hopes of adding to his impressive offensive numbers that include a .960 OPS, 45 home runs, and 26 stolen bases.

Chris Colinsworth’s Pro Football Focus Receives $50M Investment from Silver Lake

The global investment firm has announced that it will invest $50 million in PFF to help the data and analytics company as they seek to extend their services beyond football, starting with soccer. ESPN’s Adam Schefter reports that the investment bumps PFF over a nine-figure valuation, however specific details are still unknown at this time. 

Winter Olympics to Ban Foreign Fans

The International Olympic Committee decided that spectators from mainland China will be able to attend the upcoming Winter Games in Beijing. The news comes on the back of a recent decision by the IOC to require all athletes to be vaccinated to compete or be subject to a 21-day quarantine. 

Benson Reveals Long Term Plans to Keep Saints, Pels in NOLA

New Orleans Saints and Pelicans owner Gayle Benson revealed Wednesday her succession plans for both teams upon her passing. Benson, whose husband Tom Benson owned both teams prior to his death, said the long-term plan is to sell the teams but to keep them in New Orleans and distribute the proceeds of the sale to charity.

LaMelo Ball Launches Scholarship Program

Charlotte Hornets point guard LaMelo Ball has announced that he will fund the four-year tuition for one lucky student who elects to study ​​Sports Management or Sports Communication & Marketing at the Roc Nation School of Music, Sports and Entertainment at Long Island University. All three of the Ball brothers are represented by Roc Nation Sports.

WWE Tag Teams with MLB for Signature Belt Series

Starting next season, the WWE will be moving out of the ring and onto the diamond, as they announce a special partnership with the MLB to create custom championship belts with team logos. In addition, as part of the WWE’s first major partnership with a professional sports league, they will create belts for key events, including the Home Run Derby and World Series. 

Olympian Pleads Guilty to Capitol Riot

Klete Keller, a three-time Olympian, pleaded guilty on Wednesday in association with his presence at the Jan. 6 riots at the US Capitol. Although the swimmer was charged with seven counts, his plea addressed only one felony count of obstructing an official proceeding before Congress, for which he could receive up to 20 years in prison. 

Genius Works NFL Data for Major Deal with Entain and BetMGM

The sports data company will leverage its access to boundless NFL data in their new partnership with Entain and BetMGM, Sportico’s Eben Novy-Williams reports. This is only the most recent in a long series of such deals for Genius, who also signed on as the NFL’s official sports gambling data partner back in April.

The post Unvaccinated NBA Players Who Miss Games Won’t Get Paid appeared first on Boardroom.

Fernandez and Raducanu Make Their Mark in Queens, Set to Square Off in US Open Final

Britain’s Emma Raducanu defeated No. 17 seed Maria Sakkari of Greece 6-1, 6-4 in the US Open semifinals Thursday night – setting her up for a finals showdown against Leylah Fernandez, 19, of Canada. The matchup marks the first major final between teenagers since the 1999 US Open when Serena Williams beat Martina Hingis. It’s also the first major final of the Open Era in both the men’s and women’s game to feature two unseeded players.

TJ Watt Becomes NFL’s Highest-Paid Defender with 4-year, $112M Deal with Steelers

The 26-year-old star defensive end agreed to a four-year, $112 million extension with the Pittsburgh Steelers on Thursday, making him the highest-paid defender in the league. The mega-deal, first reported by ESPN’s Adam Schefter, includes $80 million in full guarantees. Watt reportedly overruled his agents in signing the deal.

PSG Taps Crpyto.com as Official Partner in Major Multi-year Deal

Paris Saint-Germain (PSG) is naming Crypto.com as the club’s official cryptocurrency platform. The partnership, which has Crypto.com paying a significant portion of the sponsorship fee using the cryptocurrency token CRO, is the second major soccer NFT partnership announced this week — Spain’s La Liga also announced it is partnering up with blockchain digital collectibles and fantasy platform Sorare to offer NFTs to fans.

Olympic Gold Medalist Gable Stevenson Strikes NIL Deal with WWE

Following his gold medal performance in Tokyo, American wrestler Gable Stevenson signed a multi-year deal with the WWE. Although details were not released, it is structured as a NIL deal, allowing Stevenson to maintain NCAA eligibility at the University of Minnesota and defend his D1 heavyweight title. 

Ravens Lose CB Peters and RB Edwards to ACL Injuries

In a devastating set of back-to-back plays, the Baltimore Ravens confirmed that both All-Pro CB Marcus Peters and RB Gus Edwards suffered season-ending ACL injuries in Thursday’s practice. The team is expected to promote former All-Star Le’Veon Bell from the practice squad and Adam Schefter reports that they will sign veteran free agent Devonta Freeman to help fill the hole left at running back.

Christen Press Announces Break from Soccer to Tend to Mental Health

USWNT forward Christen Press announced on Thursday via Instagram that she will take a break from soccer for a few months in order to focus on her “mental health, spiritual growth, and processing grief.” The news comes after Press became the first player to sign with Angel City FC and her continued efforts as a key member of the USWNT.

BMX Star Nigel Sylvester Joins Jordan Brand Family

The Jordan Brand tapped the newest member of its family on Thursday, announcing they signed BMX star Nigel Sylvester. With the deal, Sylvester becomes the first BMX athlete to sign with the brand.

Sofi Stadium Links with Square, Becoming 29th NFL Stadium to Go Cashless

Sofi Stadium and Square announced a 10-year partnership, making them the exclusive point-of-service provider for the state-of-the-art $5 billion stadium, which serves as the home to the Chargers and the Rams. With the deal, Sofi becomes the 29th of 30 NFL stadiums to commit to going cashless.

Whoop Unveils Clothing Line with Biometric Tracking Technology

The wearable technology company will expand its product offerings to include an apparel line that will track biometric data, requiring a subscription to their health tracking services. To support the launch of its next chapter following the conclusion of a wildly successful fundraising round, Whoop gathered a number of its brand ambassadors, including Patrick Mahomes, Emma Radacanu, and Rory McIlroy.

The post Brady, Prescott Shine as Bucs Beat Cowboys in NFL Opener appeared first on Boardroom.

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Nadal Confirms End of His 2021 Season Due to Leg Injury

Rafael Nadal is pulling out of the US Open due to a nagging foot injury, the Spanish tennis icon announced Friday. The chronic injury, which has plagued the 35-year-old his entire career and forced him to miss Wimbledon earlier this summer, means the four-time US Open champion will miss the remainder of the 2021 season.

Big Ten, Pac-12 , ACC Expected to Announce Alliance

College football fans can expect a big announcement from the Big Ten, Pac-12, and ACC on an upcoming scheduling alliance, Nicole Auerbach of The Athletic reported Friday morning. The formal announcement could happen as early as next week.

Chelsea, USMNT’s Christian Pulisic Tests Positive for COVID-19

Chelsea is preparing to square off against London rivals Arsenal in Premier League action this Sunday, but the club will be missing star attacker Christian Pulisic, who tested positive for COVID-19. The US international confirmed the news on his Instagram, noting that he is vaccinated and has no symptoms; however, he’s required to quarantine for 10 days per national guidelines.

Mavericks Hire LA Sparks Guard Kristi Toliver as Assistant Coach

The Dallas Mavericks have added two-time WNBA champ Kristi Toliver to Jason Kidd’s first coaching staff. ESPN’s Adrian Wojnarowski reports that the three-time All-Star guard will take on her new duties while continuing to play for the Los Angeles Sparks.

MLB and WWE Tag Team for Branded Partnership

Major League Baseball is teaming up with WWE for a multi-year partnership to create MLB-inspired WWE Championship title belts for fans of all 30 MLB clubs. The merchandising agreement, which is the first-ever between the WWE and a major US sports league, will feature belts with team logos that will be available starting in 2022.

Heading into Playoffs, PLL Reports Record Viewership

As the Premier Lacrosse League heads into the postseason, the league reported a 33% increase in viewership this season in comparison to 2019 numbers. The league has also seen improvement in its ticket sales and reports major social media engagement across multiple platforms.

NFL Hires Data Czar to Help Revolutionize Fan Engagement

The NFL has tapped its first-ever Data and Analytics Officer, Paul Bellew. A seasoned data vet, Ballew will lead a team at the league’s HQ dedicated to utilizing data to enhance fan experiences, improve operations, and help fuel future growth.

The post Topps SPAC Merger Called Off After Fanatics Baseball Card Bombshell appeared first on Boardroom.

Now, just over three years later, it appears the pair is back in business together, venturing off from The Worldwide Leader after Le Batard left the company on January 4th. This week Le Batard and Skipper officially announced their company, Meadowlark, which “will emphasize a creator-centric point of view, partnering with industry-leading storytellers on a variety of content projects with an initial focus on sports.” Previous reports said the company will be a  “left-leaning” sports media venture, and the duo could aim to add big name talents and former ESPN colleagues like Jemele Hill, Bomani Jones and Kate Fagan, amongst others. 

The move is another in a sports media trend, with big brands losing ambitious talent looking to forge their own niche within the larger industry. As bigger platforms look to consolidate smaller brands and create content hubs, other niche companies are looking to expand into communities that can thrive self sufficiently. 

The shift follows a similar trend in movies and television. For many, the Game of Thrones series finale represented the end of content monoculture as we once knew it. Gone are the television events that could garner an audience of 19.3 million like the Thrones finale, or a $2.78 billion box office like Avengers: Endgame. Instead, audiences seem to flock towards more specified content streamlined to their tastes, which then become more intimate social events and communities. With seemingly infinite options in terms of both content options and platforms, consumers are more spread out than ever before. No longer are they forced to watch whatever is on the four major networks, or even the two largest streaming platforms, instead they can survey vast databases of content to find what appeases them best and on their own schedules. To capitalize on that, and rather than funnel their content onto streaming giants, major networks like NBC and HBO have formed their own services, offering their content via monthly subscription separate from the likes of Netflix, Hulu and Amazon Prime. Production studios have looked at similar setups, most notable, Disney’s monstrous platform Disney+, which now houses some of the most lucrative content of all time all in one place. 

The sports world has adjusted in kind. A central hub for one sport or league is hardly a new idea: the NBA, NFL, MLB, NHL and others all boast networks of their own, as do college conferences like the SEC and BIG 10.. But an online, on demand database of content is near revolutionary, especially with the WWE’s many broadcast partners and the pay-per-view model that was standard for the company for decades. UFC’s Fight Pass operates similarly, with live content, original shows and a database of past events, though they have signed and extended a partnership with ESPN for its biggest events since the inception of Fight Pass. Now, rather than just watching live events, fans were able to dip into the WWE or UFC archives, and dial up any past event they wanted, on demand. Where league networks control the content on their networks, here fans are able to do so themselves, no longer subject to network programming, allowing them to streamline their own viewing experiences at a moment’s notice. 

The WWE may have been the first to adjust because they might also have been the first sports entertainment entity to be subjected to ambitious understudies looking to find new outlets to compete. As smaller wrestling factions found ways to build larger audiences with online broadcast and word of mouth, the WWE adjusted and took their brand digital as well. This new evolution of wrestling’s regional model allowed for the likes of Ring of Honor to build their own fanbase and talent pool, largely on the back of the live gate for their traveling show and their more traditional pay-per-view model, which eventually headed online as users paid for live streams of events. New Japan Wrestling forged a domestic thumbprint though similar means and online streams that helped grow a fanbase stateside.  The WWE’s streaming service and on demand database of content the WWE Network has been a rousing success for the brand, pushing them to a record $960.4 in revenue in 2019, and Ring of Honor even followed in their footsteps with their own successful streaming service. Even with the loss of live audiences in 2020, more success for the network is expected in their latest round of revenue reports to shareholders, scheduled for next month. Their third quarter subscribers averaged at 1.6 million, up 6.5% from 2019. 

But as each sport and league breaks out to content of their own, streamlined to their very specific audiences, so too does the coverage of those same sports and leagues. More and more, as networks continue to emphasize commentary over analysis, shows like First Take, Undisputed and Le Batard’s Highly Questionable become flagship offerings. Now, rather than give their work to a larger network, some are going independent, and cashing in. Hill and her former Sportscenter co-anchor Michael Smith left ESPN after a tumultuous battle over the company’s on-air aversion to politics and other lingering issues, and both have set off into the next stages of their careers with their own production companies. Hill has several outlets at the moment, including a show with another former ESPN anchor Cari Champion, Stick To Sports, and a Spotify podcast. Smith landed at Peacock, NBC’s streaming service, with Brother from Another with former ESPN colleague Michael Holly.

Both of those moves, however, fall short of full-fledged sports media companies or content networks. The closest parallel to that ambitious endeavor is probably Bill Simmons’ journey, first with the ESPN offshoot Grantland, and now with his current home The Ringer, which recently sold to Spotify for nearly $200 million. But Simmons’ platform was built and purchased largely on the back of Simmons seizing the podcast space at the right time. In doing so, Simmons built a nine-figure empire, and Le Batard and Skipper may look to follow suit, as Le Batard made the savvy move to secure the RSS feed of his podcast as part of his severance with ESPN, signaling that podcasting appears to be a part of at least Le Batard’s plans if not the larger plan with Skipper. 

While media heavyweights like Hill, Le Batard and Smith may have grasped the value in creating platforms and content networks as they began to develop a celebrity profile of their own, the athletes they cover may have beaten them to the punch.  Whether it’s taking the opportunity to form brands of their own, as means to either create their own media hubs, or to give fellow athletes the platforms to be their own media voices, they’ve taken their resources and become powerhouses in the media space over the last decade. The LeBron James-backed Uninterrupted strives to be a “content-led, athlete empowerment brand.” Derek Jeter’s Players’ Tribune serves as a platform for athletes to give their own first-person accounts of their stories, through videos, podcasts, editorials and everything in between. The Boardroom takes the stories off the courts and fields and into the boardroom, looking to shed light on the business side of the sports industry. Rather than just singular pieces of recurring content like a podcast or a weekly video series, these content factories of sorts look to cover many bases, and compete with the likes of Simmons’ The Ringer or Barstool Sports as all-encompassing media entities. 

With platforms like Twitch, Spotify, Youtube, Instagram, Snapchat and a host of others, there’s no need for Skipper and Le Batard’s company to utilize broadcast television networks for their video content. They can realistically create their content and host it across online spaces, footing the production bill themselves but also raking in the revenue they produce. That revenue is the biggest question at hand, as the talent they’re rumored to be looking at will be expensive, as will production costs for the content they’ll look to produce and promote in order to make an impact in an already crowded market. Sponsorships and paid content opportunities will be abound, and there is always the option of offering the network as a subscription service through the likes of Patreon or their own machinations, similar to The Athletic or what is believed to be their spiritual and perhaps literal opposition, Clay Travis’ Outkick sports. But with names like Le Batard and Skipper, they should find no shortage of suitors as they look to raise funds to kick start their business, and Dan, Papi and friends will be flooding airways, timelines and RSS feeds like they never left.  

The post Are Niche Brands The Future of Sports Media? appeared first on Boardroom.