Sport & Story Daily September 19, 2024

Owning and Sponsoring

September 19, 2024

Good morning! Rogers Communications, fossil fuel companies and the Bhathal’s put their money towards pro sports.

Rogers To Buy 37.5% Maple Leaf Sports Stake From Bell For $3.5B
Rogers Communications reached an agreement to acquire BCE’s 37.5% stake in Maple Leaf Sports and Entertainment for $4.7 billion. MLSE is the parent company for the NHL’s Toronto Maple Leafs, NBA’s Toronto Raptors and MLS’ Toronto FC. Rogers already owned 37.5% of MLSE, and he also owns the Toronto Blue Jays, who are worth $2.27 billion. Larry Tanenbaum owns the remaining 25% stake in the MLSE.
^Sportico

Fossil fuel companies spend US$5.6bn on sports sponsorships
Fossil fuel companies are currently spending at least $5.6 billion on sports sponsorship deals. Motorsport is estimated to have earned $2.19 billion from 40 partnerships. Saudi oil giant Aramco spend $1.3 billion on sports sponsorships.
^{SportsPro Media}

Brooklyn Nets Sued Over ‘Netaverse’ Trademark Infringement
The Brooklyn Nets, YES Network, Canon U.S.A. and the NBA are being sued by software company Phinge in a California court for trademark infringement for the
“Netaverse” trademark. The lawsuit alleges that Phinge has been using the trademark “Netverse” since 2021 for its mobile, tablet and laptop devices. It has been preparing to offer a virtual reality version of it called “Netaverse” since Dec. 2022.
^{Front Office Sports}

ESPN’s Woj Retires From Tv To Take St. Bonaventure Hoops Job
ESPN NBA reporter Adrian Wojnarowski retired from journalism. He is returning to his alma mater as the general manager for the St. Bonaventure men’s basketball team. He no longer had the drive to make the investment required of the newsbreaking role.
^Sportico

Roma fires De Rossi and hires Jurić after going winless in its opening 4 Serie A matches
Roma fired coach Daniele De Rossi. Ivan Jurić, who formerly coached Genoa, Hellas Verona and Torino, was hired. De Rossi was just hired in January. He was given an extension contract in June through 2026-27. Now, with Jurić as the coach, he signed a contract until the end of the season.
^{AP Sports}

WNBA awards Portland an expansion franchise that will begin play in 2026
The WNBA made an expansion team in Portland, Oregon that will begin play starting in 2026. The team will be owned by Raj Sports, led by Lisa Bhathal Merage and Alex Bhathal. They paid $125 million for the franchise.
^{AP Sports}

Levy, Falcons to give free concessions on Sunday
Levy Restaurants and the Falcons have ordered 100,000 hot dogs and bags of chips in preparation for a mass giveaway celebrating owner Arthur Blank’s induction into the Falcons Ring of Honor on Sunday.
^{Sports Business Journal}

UTSA Athletics Launches First Spanish-Language Newsletter
Fan of UTSA? The school’s athletic department just launched a Spanish-language version of its Brew-1-0. It is the first school in the nation to partner with Sport and Story to publish a Spanish-language edition of its free thrice-weekly newsletter. Click here to subscribe to the newsletter.
^UTSA

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