FOS PM: the iconic NBA crypto deal

[ad_1]

Master P’s son, HBCU star Hercy Miller, just signed a $ 2 million endorsement deal with a tech company. There really is “no limit” when it comes to NIL opportunities.

Portland Trail Blazers / Design: Alex Brooks

The Portland Trail Blazers are the first NBA team to land a jersey patch deal with a cryptocurrency platform.

StormX, which has 800 global partners and more than 2 million users, will sport its brand throughout the arena and on team jerseys. StormX will also create the first NFT for the Trail Blazers.

Terms of the deal were not disclosed, but sponsorship experts have reportedly suggested that the deal, the first of its kind, is likely to be under $ 10 million per year.

The Golden State Warriors have the biggest NBA jersey patch deal at $ 20 million per season. Only three of the league’s 30 teams do not have a patch contract.

Cryptocurrency is flooding the sports industry these days.

Earlier this week, Formula 1 announced a five-year, $ 100 million partnership with Crypto.com. The New York Giants teamed up in May with Grayscale, one of the world’s largest digital currency asset managers. The Miami Heat accepted a 19-year contract. , a $ 135 million naming rights deal with FTX in April. The Montreal Canadiens signed a one-year deal with Crypto.com in March.

IEG estimates that the NBA has achieved a record $ 1.46 billion in sponsorship this season.

Animation / Design: Alex Brooks

Activision Blizzard is betting $ 100 million on free-to-play game maker Playstudios.

The investment took place ahead of Playstudios’ IPO in June, but was not revealed until Thursday.

At the crossroads of mobile gaming and casino gaming, Playstudios has long benefited from affiliations with a major player in each sector: Activision Blizzard and MGM Resorts. Both companies invested in Playstudios Series A in 2011, shortly after the company was founded.

Playstudios went public in June when it merged with a SPAC, Acies Acquisition Corp., headed by former MGM CEO Jim Murren.

Following the SPAC merger, Playstudios is full of funds.

MGM Resorts, BlackRock, ClearBridge Investments and Neuberger Berman Funds are investing an additional $ 250 million in the public company. Playstudios said it has secured an additional $ 75 million five-year credit facility to fuel its growth. The company said it has around $ 220 million in cash, which it will use to expand its product portfolio and acquire more gaming companies.

The investment is part of a growing focus on mobile games for Activision Blizzard. Known for PC and console games, such as Call of Duty and World of Warcraft, the company said in November that it plans to eventually have mobile versions of all of its games.

Mobile games accounted for $ 734 million of the company’s first-quarter revenue, compared to $ 799 million for console games and $ 622 million for PC titles.

Science games / design: Alex Brooks

Scientific Games, a provider of gaming products and services, is making big changes under new leadership, according to Bloomberg.

The slots maker is seeking to divest its lottery and sports betting business through a sale, IPO, or merger with a blank check company.

The Las Vegas-based company’s sports betting unit is worth just under $ 1.3 billion, while its lottery business could reach $ 5 billion.

Scientific plans to focus on physical and online gambling.

Since purchasing gaming device maker Bally Technologies in 2014 for $ 5.1 billion, Scientific has continued to prioritize acquisitions.

Cross-licensing agreement signed in March with International Game Technology Used its technology to offer more than 50 million bets in April during the Grand National Racing Festival in England, a 60.5% increase over 2019. Acquisition of SportCast in June, a London-based company leader in engaging sports betting players.

Despite the growth, Scientific has more than $ 9 billion in debt, the divestiture of its lottery and sports betting business could ease some of the pressure.

The company generated revenue of $ 729 million in the first quarter of 2021, up from $ 725 million for the same period the previous year. Net losses reached $ 9 million for the quarter, compared to $ 155 million in the first quarter of 2020.

American athletics star ShaCarri Richardson will not compete in the Olympic 100-meter race following a positive test for marijuana. It is not yet known whether or not she will compete in other Olympic events. Peacock will broadcast all remaining games of the Stanley Cup Final. Streamer NBCUniversal begins coverage for Game 3 between the Tampa Bay Lightning and the Montreal Canadiens on Friday. Glen Taylor may continue to sell his 20% stake in the Minnesota Timberwolves and Lynx franchises to Marc Lore and Alex Rodriquez, according to a new court ruling. Todd Zeile, who played for 11 teams over 16 MLB seasons, is the co-founder of Bit Fry Games, which is set to release Ultimate Rivals: The Court on Apple Arcade. The Sports Section spoke with Zeile about the game, his best MLB moment and more. Click here to subscribe.

US stocks posted gains on all three major indices on Friday. Here is an overview of the performance of sports-related stocks:

Up:

Allied Esports Entertainment Inc. (NASDAQ: AESE) gained 12.95%

Formula One Group (NASDAQ: FWONA) gained 2.37%

Ferrari NV (NYSE: RACE) gained 1.62%

Down:

Vista Outdoor Inc. (NYSE: VSTO) fell 8.44%

Camping World Holdings, Inc. (NYSE: CWH) fell 6.14%

Big 5 Sporting Goods Corporation (NASDAQ: BGFV) fell 3.87%

(Note: All at market close on 07/22/21)

The Atlanta Hawks host the Milwaukee Bucks on Saturday for Game 6 of the Eastern Conference Finals. The Bucks lead the series 3-2.

How to watch:

8:30 p.m. ET on TNT

Betting odds:

Falcons -2.5 || ML -141 || O / U 216.5 *

Choice: The Hawks will continue to trade punches with the Bucks. Take ATL to cover yourself and bend over.

Who do you have? Respond to this newsletter with your prediction for the Hawks-Bucks winner, final score and top scorer. Nail it, and you get a mention in the FOS PM Tuesday edition. Don’t forget to include your Twitter handle.

Shoutout: On Thursday, we asked readers to make predictions for Hawks-Bucks The Bucks beat the Hawks 123-112 behind Brook Lopezs, a high of 33 points. FOS reader Travis Wacker (@tjwacker) predicted Milwaukees will win!

* Dimensions / lines subject to change. The T & Cs apply. See draftkings.com/sportsbook for more details.

Want to win an Old Hickory bat with your name engraved on it? Refer your friends and colleagues to Front Office Sports and you can! One reference = one entry.

It’s easy to spread the word. Copy and paste your unique link below and share it in an email or on your journal.

Your personalized referral link: [RH_REFLINK]

Or use these one-click sharing methods:

Email // Twitter // Facebook

[ad_2]