The Oakland A’s have reportedly pivoted to a new site in Las Vegas.

Just weeks after saying they had reached a deal to acquire 49 acres owned by Red Rock Resorts, the team is shifting its focus to the Tropicana site, according to the Nevada Independent. 

Under the new plan, the A’s would reduce their public funding ask from $500 million to $395 million. The team had considered asking for an additional $150 million in property tax breaks on the Red Rock site, but it’s currently unclear if it would do the same for the Tropicana site.

Under an agreement with Bally’s, which operates the site, the Tropicana hotel and casino would be demolished, and the A’s would build a 35,000-seat retractable roof stadium on nine acres of the 34-acre site.

Bally’s would build a 1,500-room hotel-casino across from the stadium.

The new deal avoids the need for the A’s to acquire land. The site is owned by Gaming and Leisure Properties, which would presumably continue to do so under this arrangement. Bally’s pays that company $10.5 million annually on a 50-year lease.

A bill regarding public funds could be filed in the Nevada legislature by the end of this week. The legislature’s current session ends on June 5, and Gov. Joe Lombardo has not said whether he would call a special session to continue deliberations.

Penn State athletics is about to get a major facelift.

Last week, the school’s Board of Trustees approved the beginning stages of a $700 million plan to renovate its athletic facilities — most notably major upgrades to Beaver Stadium, which will receive $70 million toward renovation during this first phase.

The school estimates that these major renovations are a more economical option than building a new football stadium, which could have cost an estimated $1.5 billion, according to The Philadelphia Inquirer.

The project, which will also benefit other teams in the department, will reportedly take place four years and be completed by August 2027. Construction will begin in January 2025 after plans are finalized over the next year.

A Self-Sufficient Department

Unlike many similar projects across the country, Penn State’s renovations will be funded solely by the athletic department, which will use a combination of loans, fundraising, and capital budget. 

The university’s president, Neeli Bendapudi, noted that it’s one of the only athletic departments in the country that is completely “self-sustaining.”

Under Armour’s fourth-quarter earnings beat Wall Street estimates — but its stock still fell 5.7% on Tuesday. 

Revenue for the company’s fourth quarter was up 8% to $1.4 billion, driven by $862 million from North America. 

Demand for Under Armour’s products has slumped compared to rival brands Nike and Lululemon. In March, Nike said its Q3 revenues rose 14% from the year prior to $12.4 billion, while Lululemon reported a quarterly revenue surge of 30% to $2.8 billion.

CEO Stephanie Linnartz, who joined Under Armour in February, said 2024 will be a “year of building” for UA as it targets women’s product sales as a growth area. Women’s products currently make up less than 25% of Under Armour’s business. 

“We will go after women harder than this company has ever seen,” Linnartz promised.

Under Armour anticipates 2024 revenue to be “flat to up slightly,” with operating income expected to reach between $310 million to $330 million. Its operating income for fiscal year 2023 was $284 million.

NBA star Steph Curry extended his ties to the company last month with a $75 million deal that will give him 8.8 million restricted stock units. The deal could become a lifetime contract for Curry if revenue goals are met.

RX3 Growth Partners, an investment firm co-founded by New York Jets quarterback Aaron Rodgers, has raised nearly $150 million from several athletes and celebrities to close its second fund.

Fellow NFL quarterbacks Josh Allen and Jared Goff invested in the fund alongside retired swimmer Michael Phelps, as well as celebrities Miles Teller, Vanessa Hudgens, Machine Gun Kelly, Christina Aguilera, Marshmello, and Thomas Rhett.

Launched in 2018, RX3’s investment portfolio includes connected rowing machine Hydrow, massage device company Therabody, golf simulator brand Full Swing, CorePower Yoga, Manscaped, Hims, and Super Coffee. 

The firm’s new $150 million fund will focus its investments on consumer-facing brands. Comedian Kevin Hart’s Hartbeat Ventures also serves as an advisor to RX3, whose co-founders also include Nate Raabe and Byron Roth.

Raabe told Bloomberg that the California-based firm will consider opening a New York office as it expands, especially with Rodgers now playing for the Jets. The Jets’ season-ticket and suite sales have jumped 400% after the four-time MVP was traded from Green Bay to New York.

Full Swing, one of RX3’s portfolio companies, was acquired by Bruin Capital in 2021 for a reported $160 million. RX3 also contributed to Hydrow’s $55 million funding round last year, which brought the rowing company’s total funding to $255 million.