Sports Biz Rundown (6/29/2020 - 7/3/2020)
Nick Hayden
Founder of Explore ATX | Creating Linkedin content about innovation and tourism insights
Finishing off the week leading up to 4th of July weekend, we hope everyone stays safe! This week we saw great progress and setbacks, which has been a common theme since the start of 2020. We hope that by the end of July, there will be more clarity to how a proper return of sports and entertainment will look.
The goal of Sports Biz Rundown is to give you a very concise rundown of what happened this week in the world of sports & entertainment. Providing you every Friday with the top sports biz news, events, careers, and more.
Sports Biz News
CUT OFF
If you search for "Redskins" on Nike.com, you will find that all official team gear has been removed from the store. If you go on Twitter or read any national news outlet, you will see that FedEx released a statement indicating that it had asked "the team in Washington" to change its name. (CBS Sports)
Baseball's minor leagues canceled their seasons Tuesday because of the coronavirus pandemic, and the head of their governing body said more than half of the 160 teams are in danger of failing without government assistance or private equity injections. The National Association of Professional Baseball Leagues, the minor league governing body, made the long-expected announcement. (ESPN)
MONEY MOVES
Under Armour is looking to bow out of its $280 million partnership with the University of California, Los Angeles, the biggest deal in American collegiate sports history as both the athleticwear brand and university athletic department face financial problems exacerbated by the Covid-19 pandemic. (Forbes)
The day, known as “Bobby Bonilla Day,” occurs every July 1 until 2035. The agreement was approved in 1999 when Mets owners, the Wilpon family, negotiated a long-term buyout instead of paying Bonilla the remaining $5.9 million on his deal when the team waived him. Bonilla’s agent Dennis Gilbert arranged the deferment, which started in 2011 and included 8% interest. (CNBC)
ESPORTS & GAMING
NBA2K announced Kobe Bryant will serve as the third and final cover athlete for NBA 2K21, honoring the late Los Angeles Lakers legend with the "Mamba Forever" edition of the game. Bryant, who died in a January helicopter crash along with eight other people, will be featured on two separate covers. Bryant is one of three cover athletes for 2K21, joining Damian Lillard (current gen) and Zion Williamson (next gen), who appear on their respective standard editions. (Bleacher Report)
Philadelphia-based esports infrastructure company Nerd Street Gamers secured a $5.4M USD convertible note financing round to support its “rapid growth through 2020 and beyond.” The company offered up to $10M as a convertible note, $5.4M of which have been received in a lead-up to a Series B round. Participants in the investment included existing investors T1 co-owner Comcast Spectacor, discount store chain Five Below, as well as venture capital firms Elevate Capital and SeventySix Capital. (Esports Observer)
Sports Biz Pod
Sports Biz Pod, a podcast covering sports business. Two episodes released per week. (On Tuesday) Featuring interviews with athletes, investors, entrepreneurs, and thought leaders in sports & entertainment. (On Friday) Featuring commentary with special guests recapping the week of sports business news, events, and jobs. Produced by the Blue Wire podcast network. Affiliate of Sports Biz Group. www.sportsbizpod.com
Episodes released this week:
Sports Biz Events
UPCOMING EVENTS
We are continuing to update our google calendar with accurate online events and rescheduled physical events. Here are some new updates:
- MLS: July 8th *Return
- MLB: July 24th *Return
- NBA: July 30th *Return
- WTA: Aug 3rd *Return
- PGA Championship: Aug 6-9 *Reschedule
- Champions League: Aug 12-23 *Reschedule
- FedEx Cup Playoffs: Aug 13 - Sep 7 *Reschedule
- Indy 500: Aug 23 *Reschedule
- Kentucky Derby: Sep 5 *Reschedule
- CFB Week 1: Sep 5 *No Change
- NFL Opening Game: Sep 10 *No Change
- Preakness Stakes: Oct 3 *Reschedule
- Masters Tournament: Nov 12-15 *Reschedule
Subscribe to the Sports Biz Event Calendar & Newsletter
Sports Biz Careers
ENTRY-LEVEL
BSE Global: Account Representative, Member Services
DraftKings: Senior TV Growth Marketing Associate
MID-LEVEL
SeventySix Captial: Marketing Manager
VSiN: Coordinating Producer
SENIOR-LEVEL
Twitch: Senior Creative Strategist
PointsBet: VP Growth Marketing