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Afternoon Edition

January 21, 2026

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Mark Cuban says college sports NIL rules and the spending cap help keep programs in check—and he’s backing them even after his Hoosiers won a national title in football.

Plus, Breanna Stewart tells Front Office Sports she’s “just starting to see” the light at the end of the tunnel for the WNBA’s long CBA negotiations.

— Amanda Christovich [[link removed]] and Eric Fisher [[link removed]]

Mark Cuban Likes the College Sports Salary Cap: ‘It Protects Us’ [[link removed]]

Derryl Barnes-FOS

MIAMI — Before the national championship, several college sports administrators suggested getting rid of the revenue-sharing cap put in place by the House v. NCAA settlement.

Billionaire Indiana alumnus and NIL donor Mark Cuban [[link removed]] disagrees.

Cuban, who is also a minority owner of the Dallas Mavericks, thinks the rules should remain in place. “I like the cap,” Cuban told Front Office Sports on Monday night shortly before his Hoosiers won their first national championship. “It’s like the salary cap and the second apron in the NBA. It makes you think more. You have to be more strategic, you have to be more tactical. It protects us from ourselves. That’s the thing about salary caps in sports—you see what happens with baseball, you see the Dodgers versus everybody else.”

Currently, the rules for player compensation are as follows: Every school in Division I has the opportunity to offer up to $20.5 million in revenue-sharing to players in its entire athletic department (most top college programs are offering 75% of that to their football program). Then, schools, collectives, and others can organize outside NIL deals for players, but they have to be for a valid business purpose and offer fair-market value.

Cuban argued that, in a scenario where there are some revenue restrictions, having the most money doesn’t necessarily mean you’ll win. “It’s not even how much any given alumni gives or the whole [of] all the money they collect—it’s how it’s spent. And you can create a lot of misaligned incentives if there isn’t some form of control.”

Cuban—and his Hoosiers— appeared to embody that philosophy [[link removed]]. Indiana won the national championship without any five-star players, and they weren’t considered one of the biggest spenders this year. During his championship press conference, Curt Cignetti said: “Our NIL is nowhere near what people think it is, so you can throw that out.”

Of course, the “salary cap” created by the House v. NCAA settlement isn’t as strict as the one in the NBA. Name, image, and likeness collectives and schools across the country have, in many cases, been eschewing the rules [[link removed]]—whether that has meant not reporting NIL deals for scrutiny or offering deals that could be considered pay-for-play.

But despite these dynamics, Cuban said he believes the current rules are strict enough to offer some form of control.

“There is [a salary cap] in that there are ways you can and can’t spend it,” Cuban said. “There are some restrictions. And the other part of it is … the players that are there, the ones that are getting paid the most, are only there for a year or two. And in some respects that puts a cap on it as well.”

SPONSORED BY ATHLETES UNLIMITED

Women’s Sports Is Big Business

The momentum around women’s sports continues to grow exponentially. On Feb. 26, Front Office Sports and Athletes Unlimited are joining forces to host Future of Women’s Sports.

This half-day summit [[link removed]], curated by FOS women’s sports reporter Annie Costabile, will bring together the bold thinkers, trailblazers, and visionaries shaping what’s next with dynamic editorial discussions and opportunities to connect with leaders across the industry.

Hosted in Nashville—one of the country’s most dynamic sports cities—this event will forecast where women’s sports is headed and highlight the vast opportunities that still lie ahead. Set in advance of the AU Pro Basketball Championship game, this experience will bring together collaborators in culture, business, and competition to explore what’s next.

This is your front-row seat to the future of women’s sports. Don’t miss your opportunity to join us— request to attend now [[link removed]].

EXCLUSIVE

Stewart on Endless CBA Talks: Starting to See End of Tunnel

Breanna Stewart told Front Office Sports she’s “just starting to see” the light at the end of the tunnel to the WNBA’s long CBA negotiations. For more on Stewart’s comments, read Alex Schiffer’s story here [[link removed]].

Savannah Bananas First Report Reveals Growth, $100K Player Pay [[link removed]]

The Montgomery Advertiser

The Savannah Bananas were already big business, but a newly released annual report from the rapidly growing baseball club confirmed that in unprecedented detail.

An extensive update (called the 2026 Fans First Report) released by the club [[link removed]], the first in its history, detailed just how big the Bananas empire has grown beyond the run of sold-out stadiums and an ever-growing waiting list for tickets.

The Numbers Are Bananas

Among the numbers released by the privately held Bananas and their parent company, Fans First Entertainment, regarding their 2025 performance:

113 shows—their preferred term instead of games—played with a total of 2.2 million tickets sold and a 91% ticket redemption rate 1.97 million items of merchandise sold More than 35 million followers across its social media channels, with more than a third of that arriving during 2025 An average of more than 500,000 viewers for televised games on ESPN, The CW, and Roku, peaking with a July 4 show from Boston’s Fenway Park that averaged 837,000 on ESPN More than 18 million views of live shows on YouTube More than 4.2 million fans joined a Banana Ball Ticket Lottery in the three weeks following the October release of the 2026 schedule that includes another extensive run of MLB and NFL stadiums The creation of two additional teams, the Loco Beach Coconuts and Indianapolis Clowns, to bring the entire Bananas-related competition to six teams, all controlled by the Jesse Cole–led Fans First Entertainment. Those teams will be part of a newly formed Banana Ball Championship League that will begin in 2026 An average player salary of more than $100,000

Beyond accelerating its massive success, the Bananas and Fans First Entertainment occupy a highly unique portion of the business of sports [[link removed]].

By design, the Bananas and their five opponents play a style of baseball that flouts many of the sport’s established on-field rules and traditions. “Banana Ball” includes a two-hour time limit on games, no mound visits or stepping out of the batter’s box, no bunting, batters having an option to steal first base, and defensive outs if foul balls are caught by fans.

Despite all of that, and the Bananas’ presence as a pure-play entertainment entity, the Banana Ball games aren’t scripted and remain competitive endeavors.

“We are not a public company. We know we have no obligation to share these details,” said Cole, known for his ubiquitous bright yellow tuxedo and top hat, in a video message to fans [[link removed]]. “But we believe we have a responsibility to you, to share who we are, what we stand for, and the why behind our decisions. Also, we think it’d be fun. It’s fun to look back on the last year and share where we are.”

Other key metrics, including company revenue and net income, were not part of the team update, but Fans First is estimated to be generating more than $100 million in yearly revenue. Cole has also said he has been approached with acquisition offers carrying $1 billion valuations.

Next Steps

Future plans include working with outside entities such as Cirque du Soleil to help elevate the in-game entertainment, a heightened emphasis on scoreboard features, and an overall investment of more than $10 million into live shows for the upcoming year, and another $13 million into broadcast production.

“Our challenge for our players in 2026 is to bring more tricks, more unique celebrations, and more never-before-seen moments to the field,” Cole said. “Our goal is for each player to provide unique Fans First moments every night to stay connected with our fans, and to never forget this is who we play for and the reason we get to do what we do.”

STATUS REPORT Three Up, One Down

The Cincinnati Enquirer

Miami (Ohio) ⬆ The Redhawks men’s basketball team set a MAC record for the best start in league history, improving to 20–0 with a 107–101 overtime win against Kent State. After weeks of pleading from fans, Miami finally appeared in the AP poll, debuting at No. 25 on the rankings released Monday.

Los Angeles Golf Club ⬆ The TGL team comprising Justin Rose, Collin Morikawa, Sahith Theegala, and Tommy Fleetwood won its first match of the season, defeating Jupiter Links Golf Club 8–4 in 15 holes. On hole 10, Rose registered the first albatross in TGL history, chipping in his second shot on the par-5 from 225 yards out.

Mets ⬆ New York has continued to bolster its offense after signing Bo Bichette [[link removed]], trading for White Sox center fielder Luis Robert Jr. on Tuesday. Robert had a disappointing 2025 season, but he was an All-Star and hit 38 home runs in 2023. He is set to make $20 million this season and has a 2027 club option for the same price, with a $2 million buyout.

Manny Ramírez ⬇ Ramírez did not make the Baseball Hall of Fame in his 10th and final year on the ballot, failing to reach the 75% threshold for induction by receiving 38.8% of the vote. The nine-time Silver Slugger hit 555 home runs in his 19-year career, but he was suspended twice for violating the league’s drug policy, hindering his candidacy for Cooperstown.

Editors’ Picks Bills Owner Defends McDermott Firing, Raises More Questions [[link removed]]by Eric Fisher [[link removed]]The owner decided to fire the coach after last weekend’s playoff loss. Judge Says Ex-Alabama Player Can Rejoin Team After 3 Years in Pros [[link removed]]by Amanda Christovich [[link removed]]The ruling could ultimately deal another blow to NCAA eligibility rules. Rays Stadium Saga Clears Hurdle Toward New Tampa Development [[link removed]]by Eric Fisher [[link removed]]The MLB club makes a major step toward a Tampa-based ballpark. DAILY TRIVIA Factle Sports

Can you list the top five most-searched sports teams via Google in 2025?

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