Sports Biz Rundown (8/31/2020 - 9/4/2020)
Nick Hayden
Founder of Explore ATX | Creating Linkedin content about innovation and tourism insights
It was another big week in the sports industry with huge announcements breaking day to day. At the start of the week, the Kansas City Chiefs and the LA 2028 Olympic Committee released their fresh looks with the release of the Super Bowl LIV rings and the 26 different logos for the LA '28 Olympics. Ex-NBA superstars seek to thrive in new positions as Steve Nash gets hired as the Brooklyn Nets' head coach and Michael Jordan is DraftKings' newest advisor. Amazon continues to infiltrate sports streaming with the release of a Tottenham Spurs documentary and e-store. College athletic programs create avenues for student-athletes to understand how they will be impacted by future name, image, and likeness rulings.
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.
FRESH LOOKS
On Tuesday, the Kansas City Chiefs received their championship rings and these things are pretty sweet. The team held a special ceremony on the field in Arrowhead Stadium with each player standing at table with their rings in a box. The Chiefs Super Bowl ring features 10? carats of gemstones, including 255 diamonds and 36 genuine rubies. The centerpiece of the ring is the Chiefs Arrowhead logo, which is composed of 60 diamonds in honor of the franchise’s 60th season and 16 cut rubies, which represents the 10 AFC West Division titles and six playoff appearances under coach Andy Reid. (USA Today)
L.A. organizers started pondering the logo for their Olympics and Paralympics almost two years ago. They needed something to fit a unique circumstance — the dual-award that saw Paris chosen for 2024 and L.A. agree to wait another four years. The iconography would have to emphasize the city’s diversity while also, somehow, staying fresh for eight years. A basic template that allowed for infinite interpretations seemed to fit the bill, so organizers began soliciting contributors. Each collaborator was given a standard “LA28” logo and told to craft their own version of the “A.” Instead of choosing one design, organizers will use all 26, with more expected in the future. (LA Times)
NEW BEGINNINGS
Hall of Fame guard Steve Nash has signed a four-year contract to become the next coach of the Brooklyn Nets, sources told ESPN. The Nets announced the hiring Thursday morning. In recent weeks, Nets owner Joe Tsai and general manager Sean Marks have been aggressive in recruiting Nash to make the leap to head coaching that he had so far resisted in retirement after his transcendent playing career. Nash, 46, comes with no coaching experience, but he has a history of leadership and playing innovation. He also brings a strong relationship with Nets star Kevin Durant. The Nets announced they are keeping Jacque Vaughn as the lead assistant coach; they are making him the highest-paid assistant in the league, sources said. (ESPN)
NBA Hall of Famer Michael Jordan has signed on as a “special advisor” to the board of DraftKings, giving him an equity stake, the fantasy sports and sports betting company said Wednesday, boosting the company’s stock in pre-market trading. As a special advisor, Jordan will provide strategic and creative input to the board on company strategy, product development, inclusion, equity and belonging, marketing activities and other key initiatives, the statement said. DraftKings, which went public April 24 with a closing price of $19.35, has seen its shares grow steadily over the spring and summer even as the coronavirus upended professional sports; it had a market cap of $13 billion early Wednesday. (Forbes)
MONEY MOVES
Amazon and Tottenham Hotspur are finalizing a first-of-its-kind retail partnership that will see the English soccer club build its own brand store on Amazon’s website, according to two people familiar with the plans. The tie-up marks a new level of interest from Amazon in licensed sports merchandise, an area that hasn’t yet been a major priority for the world’s biggest online retailer. It also draws a direct line between Amazon’s retail business and its growing Prime Video service, which is about to unveil a new documentary series about the club’s 2019-20 season. The store’s launch will be timed to capitalize on that release. (Sportico)
Texas Athletics is launching LEVERAGE, an innovative name, image and likeness program designed to equip Longhorn student-athletes with the knowledge and tools necessary to maximize their brand and platform. LEVERAGE is composed of four main areas of focus: Personal Branding & Brand Management, Business Formation & Entrepreneurship, Opportunity Management and Financial Literacy. Student-athletes are more interested than ever in advancing their personal brand and setting themselves up for a successful future. With unmatched brand identity and unrivaled campus resources, Texas Athletics is well-equipped to offer its student-athletes that opportunity. (Texas Athletics)
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 careers. Produced by the Blue Wire podcast network. Affiliate of Sports Biz Group. www.sportsbizpod.com
Episodes released this week (Click graphic to listen):
UPCOMING EVENTS
We are continuing to update our google calendar with accurate online events and rescheduled physical events. Here are some new updates:
- 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
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ENTRY-LEVEL
APEX Systems: Video Game Customer Support Specialist
Orlando City SC: Box Office Representative
MID-LEVEL
WAVE.tv: Producer - Sports Betting
FanDuel: Data Engineer
SENIOR-LEVEL
Foot Locker: Vice President - General Manager
Frisco RoughRiders: Director of Finance
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