New England Patriots chairman and CEO Robert Kraft talks about James White’s career during his retirement press conference.
In this week’s SportsMoney Playbook: the NBA’s highest-paid players, New Jersey’s betting battle with New York and the bottom of the Peloton. Plus: the ex-NFL player who helps athletes invest in VC firms.
Sports Business
With the arrival of mobile betting in New York, New Jersey has seen a double-digit drop in monthly sports betting revenue. Read also : 49ers Expand Broadcast Reach in Mexico with FOX Sports Partnership. Now, as fears mount that a casino will be built in Manhattan, local real estate developers and racetrack entrepreneurs are reviving a years-long push to bring gambling to North Jersey.
As Peloton has cut thousands of jobs, lost billions of dollars, let go of its CEO and seen 95% of its market capitalization evaporate, it’s natural to wonder if the online training sessions that made the The company disrupts the home exercise industry. .
Pro Football
A former NFL player has raised $200 million for a fund to help athletes invest in blue-chip venture capital firms. Drew Brees and Patrick Mahomes are among its investors.
Patriots owner Robert Kraft is donating $50 million to a hospital in Massachusetts, which will partially fund sickle cell anemia research. On the same subject : Chris Pratt takes revenge on Amazon Prime Video’s ‘Terminal List’: Watch Trailer.
Hockey
Seattle’s Climate Pledge Arena is expanding its use of Amazon technology that allows fans to scan their palms to pay in concession areas. Read also : Top NBA Finals Contender Rankings.
Soccer
MLS posted record attendance during the 2022 regular season and saw increases in viewership, social engagement and merchandise sales. “Everything with a view to the 2026 World Cup being here, Canada and Mexico,” a league executive tells us.
The NWSL is emerging from scandal, but has momentum. Hours after the Houston DashDASH
Auto Racing
set a league attendance record, the San Diego Wave broke the mark with more than 26,000 fans. Meanwhile, the players won a critical arbitration case that should revive free agency, and Reddit co-founder Alexis Ohanian talked to us about why he saw a “tremendous business opportunity” to join the ownership group of ‘Angel City FC.
With concussions in the sport on the rise, Nascar is considering changes to its Next Gen car. A sports medicine expert breaks down the injury trend.
Featured Story
Justin Marks has made a number of unconventional moves in building Trackhouse Racing, such as bringing in rapper Pitbull as a co-owner in 2021. It’s working: The team has three wins this season and put both of its drivers in the Nascar playoffs.
The top ten will bring in about $330 million off the court this year.
Highest Paid NBA Players in 2022: LeBron James Continues to Raise Earnings Record
Upon Further Review
NBA players are making more than ever before on and off the court, with the league’s top ten earners set to bring in an astounding $751 million. LeBron James once again takes the top spot, with a record haul for the sport. See how much he did, and the full ranking, here.
The Last Word
Mukesh Ambani’s fortune may have dropped by 5%, dropping him to second place on India’s richest list, but with a net worth of $88 billion, he remains the owner of the most richest sports team on the planet. His oil and telecommunications giant, Reliance Industries, controls the Mumbai Indians, the Indian Premier League’s most valuable team at $1.3 billion. See the complete IPL team valuations ranking.
“I can’t lose two jobs at once.” – Brett Griffin
In 2000, Brett Griffin’s career as a PR representative turned business manager took an unexpected turn when Nascar driver Elliott Sadler asked him to also be his race observer. Griffin took the job under one condition: Sadler couldn’t fire him as his business manager if the pitch didn’t work out. (He did.) Read more about Griffin’s remarkable career, which has continued to evolve in the two decades since.