The Business of Sports
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A jury in Alabama on Thursday ruled that The New York Times defamed former Alabama basketball player Kai Spears and awarded him approximately $9.25 million in damages. Ryan Phillips of the Tuscaloosa Patch reported on the verdict. Spears’ lawsuit centered on how the Times wrongly reported that Spears was at the scene of a fatal shooting and whether the Times arguably getting the “gist” […]
Woody Johnson is expanding his sports empire to the racetrack. The 79-year-old owner of the New York Jets has purchased a minority stake in the Aston Martin Formula 1 team and will join its board of directors as vice chairman immediately, the organization announced on Thursday. Financial terms of the transaction were not disclosed. A […]
Arctos Partners has reached a deal to buy 10% of the Atlanta Falcons in a two-part transaction, according to three people familiar with the details. The first tranche is for 7.5% of the NFL team at a valuation just over $10 billion, according to two of the people. The balance of the deal in 18 […]
The USTA announced a prize money pool of $108 million for the 2026 U.S. Open on Thursday, representing a 20% increase over last year’s record purse. Not all players received the same bump. The men’s and women’s singles players who lose in the first round will earn $140,000, up 27% from last year. The year-over-year […]
ESPN is one year into its future. Last August, the company began offering all of its networks directly to consumers for $30/month. In a memo to employees Thursday, ESPN chairman Jimmy Pitaro referred to that undertaking as “one of the biggest business transitions in our history—a truly defining moment for ESPN.” ESPN was valued at […]
Even if NFL preseason games are treated by coaches and stars as—at best—dress rehearsals, fans have shown a hunger to watch. Last year’s nationally televised tune-ups averaged 2.2 million viewers, making the 2025 preseason the most-watched since 2018, according to the league. In the regular season, those audiences jump close to tenfold. Every NFL game […]
Larry Berg is just months away from assuming his new role as Major League Soccer’s next commissioner. As he moves into the league’s top job, he’ll be moving out of another position—his stake in LAFC. MLS has given Berg two years to unload all his shares in the club, according to a person familiar with […]
The Los Angeles Clippers this week asserted that a team making introductions between players and team partners for potential player endorsement deals not only doesn’t violate any NBA rule but is “both an ordinary practice by NBA teams and a common request of players and representatives.” That “ordinary practice”—which in the past has involved stars such as […]
Today’s guest column is from Nicole Kankam, managing director of pro tennis marketing and entertainment for the United States Tennis Association. When the USTA debuted a new marketing campaign for the U.S. Open in 2022, Queen Latifah, in a TV and digital spot, pointed up to the Arthur Ashe stadium lights and delivered the campaign’s […]
On the 580th Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams speak with notable Wall Street (and sports) investor Roger Ehrenberg about the looming $12.5 billion sale of the Los Angeles Lakers, and what’s drawing this new class of tech billionaires to sports. Ehrenberg built the first phase of his career in Wall Street derivatives, […]
