Sports & Entertainment Spotlight: Saudi Sovereign Wealth Fund-Backed LIV Golf is Forced to Buy Airtime From Fox Sports | JD Supra

Sports & Entertainment Spotlight: Saudi Sovereign Wealth Fund-Backed LIV Golf is Forced to Buy Airtime From Fox Sports | JD Supra
Sports & Entertainment Spotlight: Saudi Sovereign Wealth Fund-Backed LIV Golf is Forced to Buy Airtime From Fox Sports | JD Supra

Welcome again to the “Highlight!’ On this loopy world, if there’s one factor that is smart, it’s that nothing is smart. LeBron James appears to have joined the identical bandwagon as my dad and mom and brought an curiosity in pickleball. For these uninitiated to the game, image a tennis courtroom—then shrink it, and with paddles bigger than for ping pong, however smaller than for tennis. Oh, and a brightly coloured wiffleball in lieu of furry neon ball. In contrast to my dad and mom, nonetheless, LeBron, by way of his enterprise fund, has bought a stake in an expert pickleball workforce. Provided that LeBron’s bread and butter is basketball, it may appear as if he’s gherkin us round with a half-sour funding, however actually, pickleball is without doubt one of the quickest rising sports activities on the planet and has taken the curiosity of many different high-profile traders. Talking of pickles, former NFL quarterback Brett Favre finds himself in a single as allegations of his misappropriating Mississippi (there, I spelled it) state welfare funds proceed to mount in opposition to him. Thus far, no prison prices have been introduced in opposition to Favre, however the courtroom of public opinion is decidedly in opposition to him. Seems {that a} reverse Robin Hood multimillionaire taking cash away from poor folks shouldn’t be precisely the kind of story one would need to solid them in a positive (Favre-ble?) highlight.

  • Saudi Sovereign Wealth Fund-backed LIV Golf is pressured to purchase airtime from Fox Sports activities. Often, it’s the league from which the community buys airtime – not the opposite approach round. Then once more, golf is a sport by which the bottom rating wins, so maybe we must always view this transfer in that mild.
  • As cryptocurrency trade firm can attest, right here’s no denying the advertising energy of sports activities sponsorship. In that regard, it is smart {that a} new funding app known as Scout, can be looking for title, picture and likeness (NIL) offers on school campuses in an effort to gas school pupil sign-ups. Then once more, free pizza additionally goes a good distance.
  • Perhaps it’s the headwinds from the world economic system, however the marketplace for NFTs has drastically cooled off. In a associated story, Melania Trump is promoting Christmas NFTs.

Endorsement Offers, Sponsorships & Investments

Faculties Like Penn State Self-Police Scholar-Athlete Endorsement Offers
September 28, 2022 by way of Gant Day by day Information
Scholar-athletes can now become profitable from their “title, picture, and likeness,” however there aren’t many incentives for the state or universities to carry violators accountable.

Sports activities Sponsorship Provides the ‘Widest International Viewers’, Says CMO
September 27, 2022 by way of Sport Enterprise’s billion-dollar-plus sports activities sponsorship agreements have allowed the cryptocurrency platform to succeed in the “widest world viewers” and spurred fast consumer progress, the corporate’s chief advertising officer, Steven Kalifowitz, has mentioned, talking on the Sports activities Issues convention in Singapore.

As Faculty Athletes Money in on NIL, Tax Specialists and Faculties Remind Them to Pay Uncle Sam
September 22, 2022 by way of Information Break
Rayquan Smith does not play soccer or compete as a decathlete at a serious school, however that hasn’t stopped the Norfolk State College twin athlete from cashing in on sponsorships that at the moment are allowed underneath a brand new coverage altering the monetary panorama in beginner sports activities.

Sports activities

Scout Raises $2.6 Million to Flip Scholar Athletes Into Buyers
September 28, 2022 by way of Sportico (subscription could also be required)
Scout, an app designed to assist folks set up their first funding habits, lately raised $2.6 million in a seed funding spherical.

Phil Mickelson, 3 Others Go away LIV Lawsuit In opposition to PGA Tour
September 27, 2022 by way of Sportico (subscription could also be required)
After which there have been three. The high-profile antitrust lawsuit initially introduced by 11 LIV golfers in opposition to the PGA Tour now has simply three golfers: Matt Jones, Bryson DeChambeau and Peter Uihlein.

NFL Recreation Positions DraftKings for Gamers Market, Peer-to-Peer Betting
September 26, 2022 by way of Sportico (subscription could also be required)
DraftKings lately launched a brand new day by day fantasy recreation known as Reignmakers, touting over $1 million in money and prizes every week of the NFL season—and $30 million in whole.

Celtics 12 months-Lengthy Ban of Udoka Attracts Work Misconduct into NBA Highlight
September 23, 2022 by way of Sportico (subscription could also be required)
The Boston Celtics suspended head coach Ime Udoka for the whole 2022-23 season for a number of “violations” of unspecified “workforce insurance policies.”

Music Biz

Wrangler® Introduces Denim Assortment Designed by Grammy Award-Profitable Musician Leon Bridges
September 28, 2022 by way of Enterprise Wire
Wrangler®, one among America’s most acknowledged denim labels, has introduced the continuation of the model’s collaboration with “Mr. Wrangler,” Grammy award-winning recording artist, Leon Bridges.

Music Producer Mr. Probz Demanding €10 Million From Sony in Royalties Battle
September 27, 2022 by way of NL Occasions
Music producer Dennis Stehr, higher generally known as Mr. Probz, sued the Dutch department of document firm Sony.

American Business Welcomes the Launch of Radio Royalty Proposals in U.S. Senate
September 23, 2022 by way of Full Music Replace
The American document business has welcomed the introduction of formal proposals within the U.S. Senate that may power AM and FM radio stations within the nation to begin paying royalties to artists and document labels for the primary time.

Timbaland & Swizz Beatz Settle ‘Verzuz’ Lawsuit With Triller
September 22, 2022 by way of Billboard
“VERZUZ has all the time been a platform that’s by the artists, for the artists and with the folks,” mentioned Swizz Beatz and Timbaland in an announcement.

Movie & TV

LIV Golf ‘Will Purchase Airtime on Fox Sports activities After Networks Balked at Saudi-backed Tour’s First TV Deal’
September 28, 2022 by way of The Day by day Mail
Moderately than promoting media rights, it seems the upstart, Saudi Arabian-backed LIV Golf tour will as a substitute be shopping for airtime on Fox Sports activities 1.

Apple to Pay Practically $50 Million Yearly for Tremendous Bowl Halftime Present
September 23, 2022 by way of Sportico (subscription could also be required)
Apple is the subsequent sponsor of the Tremendous Bowl halftime present. The Nationwide Soccer League introduced a brand new partnership with Apple that features rights to the 12-minute present, one of many greatest annual occasions in music.

Amazon’s NFL Thursday Debut Hits 13 Million Viewers, File Prime Signups
September 22, 2022 by way of Sportico (subscription could also be required)
Every week to the day after Amazon Prime Video formally kicked off its stewardship of the NFL’s Thursday Evening Soccer bundle, the Nielsen rankings are lastly in, and the outcomes surpassed all expectations.

Non-Fungible Tokens (NFTs)

Melania Trump Markets New Christmas Ornaments, NFTs
September 28, 2022 by way of Star-Telegram
Melania Trump is getting within the vacation spirit by hawking Christmas ornaments and NFTs she designed.

NFT Gross sales Have Misplaced Practically All Their Attract
September 28, 2022 by way of Crypto Information Australia
Crypto-focused people are having a more durable time getting any cash for his or her gross, insultingly spinoff Bored Apes and dull-eyed, featureless 8-bit faces of CryptoPunks, in response to crypto analytics information.

Qtopia, the First LGBTQ+ Metaverse, Launches Its Preliminary NFT Actual-Property Sale
September 28, 2022 by way of GlobeNewswire
French video games, expertise, and blockchain product developer Crypto Blockchain Industries (CBI), along with Crypto Meta LLC. (CM), introduced the preliminary launch of NFT Land pre-sales for Qtopia, the primary LGBTQ+ metaverse.

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