Disney acquires remainder of BAMTech from MLB

Morning Buzz / Wednesday, November 30, 2022
Disney has officially acquired 100% of BAMTech, having paid MLB $900M for its 15% stake in the company, "now known as 'Disney Streaming,' earlier in November." Disney and the sports league "had the right to force a buyout of the stake based on its fair market value beginning earlier...

Odds against Rivalry despite record revenue

Esports / Tuesday, November 29, 2022
Rivalry continues to burn investors’ funds despite reporting record revenue. The Canadian betting company reported a $4.41 million net loss for the three months period ended Sept. 30 and increased its total accumulated deficit to $42.69 million. Rivalry handled a betting volume of $51.8 million, with 90%...

Finance: Compound Investments

Weekly / Monday, November 28, 2022
M alcolm Jenkins really began to think about investing for the first time in 2010, when he was a second-year NFL safety for the New Orleans Saints. Jenkins’ five-year, $19 million rookie deal was structured so that the first-round draft pick received over $9...

NBA Equity’s portfolio grows as upstarts take their shot

Weekly / Monday, November 28, 2022
While the NBA has invested in select companies since at least 2014, startups the past few years have seen an increasing value in the muscle of the league’s brand, with all the assets it has to bear. At the same time, the league has recognized that serving...

Cerro Capital sees timing advantage in growth-capital space

Weekly / Monday, November 28, 2022
The newest entrant to sports-specific deal-making has already invested alongside some of the industry’s biggest names, and it’s now angling to be a key player in the sports growth-capital niche. Cerro Capital was launched earlier this year by a trio of co-equal managing partners: Andy...

No guarantee Glazers will sell ManU while gauging options

Daily / Wednesday, November 23, 2022
Manchester United co-owners Joel and Avram Glazer said that they will "'evaluate all options,' including the sale of their stake in the team but also cautioned that there is no guarantee their exploration will result in any transactions," according to Rick Stroud of the TAMPA BAY TIMES....

Astros earn biggest World Series payout in history

Morning Buzz / Wednesday, November 23, 2022
Following a World Series title in an expanded postseason, the Astros have received "the largest playoff shares of any World Series winner in history." The 12 playoff teams split a players pool of $107.5M -- up from $90.5M last season, "when the postseason included just 10 teams." Houston received $38,703,903...

Dick's Sporting Goods earnings top estimates

Morning Buzz / Tuesday, November 22, 2022
Dick's Sporting Goods "slid 3.7% in premarket trade Tuesday, even after the retailer topped estimates for the third quarter with positive same-store sales and an upbeat outlook." The company posted net income of $228M for the quarter, down from $317M a year earlier. Sales climbed to $2.959B from $2.748B, also...