Sport & Story Daily July 26, 2024

Million Dollar Deals

July 26, 2024

NBA rejects WBD's matching rights proposal, enters into 11-year Amazon deal
The NBA rejected Warner Bros. Discovery’s $1.8 billion per year offer. The league signed an 11-year media rights deal with Disney, NBC and Amazon Prime Video which will bring in about $76 billion. The 2024-25 season will be the last for TNT after nearly four decades.
^{AP Sports}

Highest-Paid Paris Olympics Athletes: Top 20 Earn $1.35B
There are 20 athletes who each earned more than $35 million from salaries, bonuses, prize money and endorsements. Spain’s men’s golfer Jon Rahm is the top earner with $210 million. He could make anywhere from $300-600 million from signing bonuses.
^Sportico

British Olympic Association sews up Adidas extension until 2032
Team Great Britain will continue to wear Adidas up to and including the 2032 Brisbane Olympics. The deal includes both the Summer and Winter Olympics up until 2032. The Adidas and Britain Olympic Association became partners at the 1984 Los Angeles Olympics, with the 2024 Paris Olympics being its 40th anniversary.
^{SportsPro Media}

Colin Kaepernick Launches AI Start-Up, Remains Unretired From NFL
Former 49ers quarterback Colin Kaepernick is launching Lumi Story AI. It is a product designed to aid writers. Lumi is backed by Seven Seven Six, the venture capital firm run by Reddit cofounder Alexis Ohanian, which provided the majority of the $4 million in seed funding.
^{Front Office Sports}

Oilers hire Bowman as GM less than 3 years since he resigned after Blackhawks sexual assault scandal
Stan Bowman was hired by the Edmonton Oilers as their new general manager and vice president of hockey operations. He is the first former Chicago Blackhawks executive re-hired by an NHL team since the team’s 2010 sexual assault scandal. Bowman resigned as Chicago’s GM in 2021 after an independent investigation found the organization mishandled allegations made by player Kyle Beach that he was sexually assaulted by video coach Brad Aldridge.
^{AP Sports}

Brett Favre Business Partner Pleads Guilty for Role in Welfare Scandal
Jake VanLandingham is Brett Farve’s business partner. VanLandingham has a drug company where he was developing two concussion-related treatments. He pleaded guilty to a single count of wire fraud when the company had illegally received more than $2 million of federal welfare funds. The charge carries up to 20 years in prison and a fine of up to $250,000. VanLandingham was released on a $10,000 bond as he awaits sentencing.
^{Front Office Sports}

Wells Fargo ending naming rights for Philly arena
The home of the Philadelphia Flyers and 76ers will no longer be the Wells Fargo Center. Tim Nwachukwu/Getty Images Wells Fargo is taking the name off the 21,000-seat arena. The bank is not going to extend its contract when the deal expires in Aug. 2025.
^{Sports Business Journal}

Dale! Texas Spent $2.3 Million On SEC Entry Fest With Rapper Pitbull
The University of Texas spent $2.3 million on an on-campus party to celebrate its entrance into the SEC. The athletics department spent $889,000 plus another $339,000 for advertising the Pitbull concert. Multimedia rights partner Learfield paid the remaining $1.7 million, with $610,000 going directly to Pitbull.
^Sportico

Texas Tech Poaches Softball Star With $1 Million NIL Deal
NiJaree Canady is leaving Stanford for Texas Tech. She signed a one-year deal worth $1,050,024 with the school’s Matador Club collective. Canady posted a .73 ERA with 337 strikeouts in the 2024 season.
^{Front Office Sports}

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