Sport & Story Daily September 12, 2024

Double the Debt

September 12, 2024

Good morning! From Athlete to Entrepreneur

Judge orders former NFL star Adrian Peterson to turn over assets to pay $12M debt
Former NFL running back Adrian Peterson has been ordered to turn over personal assets to help pay a debt that has increased to more than $12 million. Peterson failed to repay a $5.2 million loan to a Pennsylvania lending company. Interest and fees increased the debt. The court-appointed receiver is prevented from auctioning off various items seized from storage units, including the 2007 NFL “Rookie of the Year” trophy.
^{AP Sports}

Caitlin Clark’s Wilson basketball sells out in less than 40 minutes
Wilson Sporting Goods has a new Inspire Series. Part of the Series is a Caitlin Clark namesake basketball. The basketballs sold out in less than 40 minutes after they went live on Monday.
^{Sports Business Journal}

Man United Revenue Hits Record $867M, Layoffs Affect 250 Employees
Man United posted a record annual revenue of $867 million, which was 2.1% higher than last year’s all-time high. The operating loss for the 12 months ending June 30 was $91 million, with a net loss of $148 million after financing coastal and including a $23 million tax credit.
^Sportico

Hogs+ Wins Digiday Technology Award for Best Subscription Platform
Hogs+ is the premiere subscription platform for all things Arkansas Razorbacks. The platform was named the winner of the Digiday Technology Award for Best Subscription Platform. Digiday Technology Awards recognize the companies and technologies driving innovation and excellence in the digital media and marketing industries.
^{Sport & Story}

NFL posts 12% audience gain for Week 1
The NFL finished Week 1, averaging 21 million viewers across ESPN, ABC, ESPN2, NBC, FOX and CBS. This is up 12% from Week 1 last year. The Packers-Eagles game alone drew in 14 million viewers on Peacock Friday night.
^{Sports Business Journal}

NBCUniversal Boss on $27 Billion NBA Deal: ‘We Have a Plan’
NBC is set to take over the NBA’s new “B” package of media rights next year for $2.5 billion annually. They will be paying nearly the same price as incumbent “A” package rights holder ESPN, which will shell out $2.6 billion per season over the 11-year contract. NBC’s key is to boost the over-the-air network’s prime-time inventory.
^{Front Office Sports}

Mauricio Pochettino hired to succeed Gregg Berhalter as US men’s national team coach
Mauricio Pochettino is the new U.S. men’s national team coach. He will be taking over for Gregg Berhalter. Pochettino was previously the Tottenham and Chelsea manager. The new job position comes 21 months before the Americans host the 2026 World Cup.
^{AP Sports}

Jerry Jones-Backed Faze Clan Regroups After Stock Flame-Out
Faze Clan is an esports group that Jerry Jones scooped up for $14 million in October. Faze is seeing a revival under GameSquare. GameSquare is an esports venture formed by Jones and Texas real estate baron John Goff. Faze dropped 17 content creators, which led to a tripling of weekly hours of viewership on social media from 1.5 million in April to 4.8 million in July.
^Sportico

Jay Williams Supports PE in College Sports: ‘I Would Like to Own 49% of Duke Basketball’
Former NBA player and ESPN analyst Jay Williams is in favor of private equity entering college sports. He would one day like to own 49% of Duke basketball. Florida State and Howard have had conversations about selling states of their teams or athletic departments to private equity firms, but nothing has stuck.
^{Front Office Sports}

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