In this week’s SportsMoney Playbook: the company poised to cash in on NIL laws, Nascar’s crypto king and a betting platform going public. Plus: college basketball gets back on the recruiting trail.
Esports and sports betting platform Rivalry Limited, which raised $22 million this month contingent on its going public, plans to list on the Toronto Stock Exchange by October. “We always knew we would be listing earlier than we probably would’ve wanted to, but it gives the business a lot more freedom and flexibility,” the company’s CEO tells us.
With Covid-19 cases trending down and vaccinations up, college basketball recruiting is getting back to normal as coaches like Duke‘s Jon Scheyer and UNC‘s Hubert Davis head out on the road for the first time since February 2020, before the pandemic turned the world upside-down.
Landon Cassill is helping bring cryptocurrency into the mainstream, inking Nascar‘s first major sponsorship deal with a platform in the space and collecting his pay in crypto.
The English Institute of Sport is monitoring the hormone levels of Manchester City‘s women’s players in real time, which could accelerate the understanding of female athlete health and improve the players’ training and support.
The tenth-most-populous city in the U.S. finally has its first pro sports team. “This is meaningful for a community that has so much pent-up demand for major-league sports,” the club’s president tells us.
Championships used to be the only thing keeping the 125-year-old Pinehurst Golf Resort relevant. But the venue has undergone a dramatic modernization over the past decade.
The NHL is taking marketing advice from 25 teenagers; the league’s CMO explains why.
Indoor snowsports venues, while popular in Europe, have been slow to catch on in the U.S. Alpine-X aims to change that—and to make skiing and snowboarding more accessible—with plans to open indoor resorts in more than 20 markets.
Manu Sawhney, the embattled CEO of the International Cricket Council, says he is the victim of a “premeditated witch hunt” and believes the sport’s governing body has not given him a fair hearing as he faces allegations of workplace bullying.
Laws allowing college athletes to profit from their name, image and likeness are set to take effect in six states next week. Opendorse, an athlete marketing platform, projects the NIL market will be worth $500 million in 2022—and the company is digging in for a massive growth opportunity. Read more on Opendorse and the about-to-explode market around college athletes.
Upon Further Review
Seven years after signing with Adidas at age 15, superstar skateboarder Tyshawn Jones is releasing his second sneaker with the brand. It’s no small accomplishment for the 22-year-old, who also counts Warby Parker, Supreme and New Era among his sponsors, but Jones has a long way to go to catch the titans of athlete-sneaker tie-ups. Both LeBron James and Kevin Durant earn more than $25 million annually from their Nike sneaker deals—and that’s a fraction of what Michael Jordan rakes in. See how much MJ makes.
The Last Word
“In the back of my mind, I feel like I can drive the wheels off anything.” – John Hunter Nemechek
John Hunter Nemechek opened eyes last year as a rookie in Nascar’s Cup Series, which makes it all the more surprising he decided to drop to a lower level and race in the Camping World Truck Series. But Nemechek sees the move as an opportunity to boost his résumé with Kyle Busch Motorsports and inch toward his goal of becoming a champion in the years to come. Read more about Nemechek’s unconventional path.
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