Sport & Story Daily August 9, 2024

Medal Rights

August 9, 2024

Good morning! From Athlete to Entrepreneur

2024 Paris Olympics: Gold medalists Katie Ledecky, Nick Mead named USA flag bearers for closing ceremony
Team USA announced that Katie Ledecky and Nick Mead will be the flag bearers for the closing ceremony. Ledecky won gold in swimming and Mead won gold in rowing. Ledecky has a total of 14 medals over her Olympic career. Mead won Team USA’s first gold medal in the coxless men’s four race in 64 years.
^{Yahoo Sports}

Under Armour: We’re ‘Ahead of Expectations’ Despite 10% Revenue Drop
Under Armour reported a 10% drop in revenue for the quarter ending June 30. Apparel was down to $758 million and footwear was down to $310 million. The brand had a net loss of $305 million for the quarter.
^{Front Office Sports}

Warner Bros. Discovery takes $11.2B hit following loss of NBA
Warner Bros. Discovery's Q2 earnings missed expectations, reporting an $11.2B hit from write-downs and charges. Revenue dropped 6% to $9.7B, despite adding nearly 4 million streaming subscribers.
^{Sports Business Journal}

Disney, Fox, WBD Invested $400 Million Each in Sports Bundle Venu
Streamingjoint venture Venu is comprised of Walt Disney, Co., Warner Bros. Discovery and Fox Sports. So far they have invested $400 million each into Venu. Each company will also spend $15 million in marketing Venu in the first year. A noncompete clause forbids each company from entering into a similar partnership with other media companies for 36 months.
^{Front Office Sports}

White Sox fire manager Pedro Grifol after 21-game losing streak
The Chicago White Sox lost 21 games in a row. Two days after the team ended its losing streak, they fired manager Pedro Grifol. The White Sox were on pace to finish 39-122, which would be the worst major league record since the National League’s Cleveland Spiders were 20-134 in 1899.
^{FOX Sports}

Eagles legend Nick Foles officially announces retirement from NFL
Nick Foles decided to retire from the NFL after 11 years. Foles led the Eagles to win Super Bowl LII. He will be honored at Lincoln Financial Field at the Eagles home opener against the Atlanta Falcons on Sept. 16.
^{Yahoo Sports}

Rwanda a “serious” option to host F1 race, says CEO Stefano Domenicali
Africa hasn’t had a Formula One race since 1993. Formula One chief executive Stefano Domenicali has revealed that Rwanda is a serious option to host a future Grand Prix.
Domenicali said, “We need to have the right moment, and we need to make sure that also in that country, in that region, in that continent, there is the right welcoming, because, of course, they have other priorities. We need to be always very careful in making the right choices.”
^{SportsPro Media}

Cleveland Browns unveil US$2.4bn new stadium plan as team weighs up future downtown
The Cleveland Browns plan to build a $2.4 billion dome stadium in Brook Park. They have agreed on a deal to buy 176 acres near Cleveland Hopkins Airport. The team is seeking public and private partnerships for the project. Another option is a $1.1 billion renovation of the stadium on the lakefront.
^{SportsPro Media}

SEC moving toward adopting mandatory injury reports in time for 2024 college football season
At the annual SEC spring meeting, conference officials discussed moving toward a mandatory injury report for this football season.
"Personally, it wouldn't be bother me if they want to know exactly what our injury report was," Arkansas coach Sam Pittman said at the time. "You're going to find it out before the game anyway, if you're at the game. You're gonna see who's suited out and who's not. Who's limping and who isn't. But, I understand that if it would help our players not get needled for information, I'd be all for it."
^{CBS Sports}

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