In this week’s SportsMoney Playbook : the NBA’s highest-paid players, New Jersey’s betting battle with New York and Peloton’s downward spiral. Plus: the ex-NFL player helping athletes invest in VC firms. With the arrival of mobile betting in New York, New Jersey has seen a double-digit decline in its monthly sports betting revenue.
Now, as fears mount that a casino will be built in Manhattan, local real estate developers and racetrack entrepreneurs are reviving a years-old push to bring gambling to North Jersey. As Peloton has cut thousands of jobs, lost billions of dollars, ditched its CEO and watched 95% of its market capitalization evaporate, it’s natural to ask whether the online training sessions that made the company a disruptor of the home-exercise industry might be jettisoned . One former NFL player has raised $200 million for a fund to help athletes invest in blue-chip venture capital firms.
Drew Brees and Patrick Mahomes are among its investors. Patriots owner Robert Kraft is donating $50 million to a hospital in Massachusetts, which will in part fund research on sickle-cell anemia. Seattle’s Climate Pledge Arena is expanding its use of Amazon technology that allows fans to scan their palms to pay at concession areas.
MLS posted record attendance during the 2022 regular season and saw increases in viewership, social engagement and merchandise sales. “It’s all with a view to the 2026 World Cup being here, Canada and Mexico,” a league executive tells us. The NWSL is emerging from scandal, but it has momentum.
Hours after the Houston Dash DASH set a league attendance record, the San Diego Wave broke the mark with more than 26,000 fans. Meanwhile, players won a critical arbitration case that should liven up free agency , and Reddit cofounder Alexis Ohanian spoke to us about why he saw a ” tremendous business opportunity ” in joining Angel City FC ‘s ownership group. With concussions in the sport on the rise, Nascar is considering changes to its Next Gen car.
A sports medicine expert breaks down the injury trend . Justin Marks has made a slew of unconventional moves in building Trackhouse Racing , like bringing in rapper Pitbull as a co-owner in 2021. It’s working: The team scored three wins this season and put its two drivers in Nascar’s playoffs.
Highest-Paid NBA Players 2022: LeBron James Keeps Pushing Up The Earnings Record NBA players are making more than ever on and off the court, with the league’s ten top earners set to pull in an astonishing $751 million. LeBron James claims the top spot once again, with a record haul for the sport. See how much he made, and the full ranking, here .
Hot Reads: Mukesh Ambani’s fortune may have slipped 5% , dropping him to No. 2 on the list of India’s richest, but with a net worth of $88 billion, he remains the richest sports team owner on the planet. His oil and telecom giant, Reliance Industries, controls the Mumbai Indians, the Indian Premier League’s most valuable team at $1.
3 billion. See the full ranking of IPL team valuations . “I can’t lose two jobs at one time.
” – Brett Griffin In 2000, Brett Griffin’s career as a PR representative-turned-business manager took an unexpected turn when Nascar driver Elliott Sadler asked him to also be his race spotter. Griffin took the job under one condition: Sadler couldn’t fire him as his business manager if the spotting didn’t work out. (It did.
) Read more on Griffin’s peculiar career, which has continued to evolve in the two decades since . You can subscribe to the SportsMoney Playbook here . .
From: forbes
URL: https://www.forbes.com/sites/justinbirnbaum/2022/10/20/robert-kraft-peloton-and-the-nwsl-this-weeks-most-interesting-sports-business-stories/
