Weekly Roundup: Business of Athletes, Sports, & NIL (May 22-28)

Audio Timeline:

(01:30) - Business of Athletes

• Tom Brady has become a minority shareholder in the Las Vegas Raiders.

• Stephen Curry is entering the spirits industry with the upcoming launch of his Gentleman's Cut Kentucky Straight Bourbon Whiskey ($79.99).

• Hall of Fame forward Dirk Nowitzki has invested in Sporttotal, an AI-powered sports streaming company.

(03:40) - College Sports/NIL

• D’Amelio Huskies Collective hosted several UConn athletes at their footwear event in California.

• The NCAA released a survey that shows 58% of 18-to-22-year-olds are wagering on sports.

• Tennessee’s collective operator, Spyre Sports, has partnered with Opendorse to streamline compliance and their backend software.

(06:30) - Sports Business

• Fanatics acquired PWCC Marketplace, a premier online collectibles marketplace from cards to comics.

• Picklemall is set to launch 50 locations over the next 24 months — with the first happening in Tempe, Arizona in July.

• Sports streaming service provider DAZN opened a technology development center in Hyderabad, India with plans to hire 650 more people.

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Interesting Stat

SponsorUnited, released its 2022-2023 NBA Marketing Report that analyzed thousands of data points.

Key findings:

• NBA team sponsorship revenue reached a record $1.4B in the 2022-2023 season (up over $100M from last year).

• The NBA sponsorship portfolio rose 3.5% YoY with 2,430 new brand deals.

• Financial, Retail, Sports Betting, and Gambling/Lottery account for nearly 50% of the total revenue increase.

• The Finance category ranked #1 in total spending while having the highest YoY spending growth and increase in deal volume.

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Short Passage of The Week

Your diet is not only what you eat: 

• It is what you read

• What you listen to

• What you watch

• The people you hang around

Be mindful of what you put into your body emotionally, mentally, spiritually, and physically. Our diet is not just about our stomachs but our souls. 

— Former MLB coach, Clint Hurdle

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Recommended Media

Carmelo Anthony recently retired…

And announced a deal with Soul Machines to launch his AI-powered twin on social media.

This “virtual twin” is set to give takes on NBA news, chat with fans, and keep you up to date on what “real Carmelo” is up to.

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Interesting Stat #2

Power Five conferences generated a combined $3.3 billion in revenue during the 2022 fiscal year.

1. Big Ten: $845.6M

2. SEC: $802M

3. ACC: $617M

4. Pac-12: $580.9M

5. Big 12: $480.6M

It will soon jump even higher as the Big Ten has a $1 billion/year media rights deal and the SEC has one worth $700M/year.

Stats via USA Today

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Business Jargon

It’s interesting to see the mass migration of millionaires…

Main takeaway:

1. Millionaires have been leaving Russia and China like crazy for the UAE, Singapore, and Australia.

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Quote

“You don't build a business, you build people, then people build the business.” - Zig Ziglar

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Thanks for tuning in today.

Have an awesome rest of your Memorial Day Weekend!

Peace,

-AP