June 22, 2022

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Not only has Ohio State University successfully registered a trademark for “THE” — namely for apparel — but Buckeye athletes have reportedly surpassed [[link removed]] 1,000 NIL deals over the last year. THE Ohio State now ranks first in NIL compensation and in number of athletes with at least one NIL deal.

Fanatics CEO Sells 76ers, Devils Stakes With Eye on Expansion [[link removed]]

Kyle Terada-USA TODAY Sports

Fanatics CEO Michael Rubin is selling his stakes in pro teams to clear the path for a broader expansion in the sports landscape.

The executive is unloading [[link removed]] his reported 10% stake in Harris Blitzer Sports & Entertainment, which owns the Philadelphia 76ers and New Jersey Devils. HBSE was valued [[link removed]] at over $3 billion earlier this month after it sold a stake between 5% and 10% to Arctos Sports Partners.

“As our Fanatics business has grown, so too have the obstacles I have to navigate to ensure our new businesses don’t conflict with my responsibilities as part-owner of the Sixers,” Rubin said in a statement.

Fanatics has grown from a focus on sports apparel and retail to pursue a range of sports-related industries.

After securing trading card licensing deals from MLB, MLBPA, NBA, NBPA, and NFLPA, Fanatics acquired [[link removed]] Topps for around $500 million in January.Last month, Fanatics filed [[link removed]] for a sports betting trademark, under the name BetFanatics.The company has explored entering the regional sports network space. Trade Speculation

The sale allows Rubin to explore financial relationships with individual players in the NBA and NHL.

He is known to be close to 76ers star Joel Embiid, and free-agent guard James Harden – whose relationship to Rubin drew the interest of other NBA executives before Harden was traded to the 76ers from the Brooklyn Nets.

Several Top Sports Execs Lead $35M Funding Round in Jackpot [[link removed]]

Rhona Wise-USA TODAY Sports

U.K.-based online lottery ticket company Jackpot has raised $35 million in a Series A funding round including top sports executives and athletes.

Co-led by early-stage investor Courtside Ventures and VC firm Accomplice, the round featured [[link removed]] a star-studded list of investors that included NBA superstars James Harden and Joel Embiid.

Fanatics CEO Michael Rubin, New England Patriots owner The Kraft Group, Cleveland Browns owner Haslam Sports Group, DraftKings CEO Jason Robins, and Boston Red Sox president Sam Kennedy also took part in the round, which will facilitate Jackpot’s app launch in the U.S.

Jackpot is looking to operate [[link removed]] in New York, New Jersey, Texas, Ohio, and Oregon.The company will generate profits by charging a convenience fee on purchases.

Jackpot’s latest funding round will help the company tap into a U.S. lottery market that is estimated to be worth $100 billion annually. Jackpot aims to bridge the gap between physical and online lottery ticket sales for the 53% of Americans who purchased a lottery ticket last year.

Only about 5% of those lottery ticket sales in 2021 were made online.

Positive Spending

Jackpot hopes to increase lottery ticket sales in states that permit online purchases, which in turn would benefit their communities.

With up to 95 cents of every dollar spent on lottery games allocated toward education, healthcare, and other initiatives, Jackpots aims to promote and accelerate positive spending.

SPONSORED BY ANHEUSER-BUSCH

Meet The Rising 25 Class of 2022

Now in its sixth year, the Front Office Sports Rising 25 Award [[link removed]] presented by Anheuser-Busch has become one of the most competitive and prestigious awards in the business of sports.

This year, we received over 400 nominations highlighting young professionals whose drive to succeed inspired us. They crushed it in the workplace and carried that spirit “off the field” by championing philanthropic causes and advocating for diversity and inclusion.

Check out the Rising 25 Class of 2022 [[link removed]].

Kansas City Current Opens First of Two Unique Facilities [[link removed]]

Kansas City Current

The Kansas City Current held the ribbon-cutting for its new $18 million training facility on Wednesday, less than a month after releasing the renderings for its new, one-of-a-kind stadium.

The Riverside, Missouri, training complex was designed [[link removed]] by Generator Studio, built by female-owned Monarch Build, and exclusively privately funded by the team’s co-owners: Angie Long, Chris Long, and Brittany Mahomes.

“The overreaching goal in making an investment and commitment of this magnitude is to continue on our path of becoming the best women’s soccer club in the world,” Chris Long said.

The facility, which includes weight, cardio, and recovery assets, as well as a high-performance chef and locally-sourced menus, was built using a sustainable approach.

Jill Monaghan, senior project designer at Generator Studio, says it’s the first North American sports training complex to be built with an all-wood structure.The complex includes two “world-class pitches and a FIFA-approved turf pitch.” Stadium Specifics

The Current can now focus on their $117 million stadium — the first stadium purpose-built for an NWSL team. It’s privately funded, although the team is now seeking [[link removed]] $6 million in state tax credits since costs jumped from $70 million.

The facility [[link removed]] will have a capacity of 11,500, a concourse club, and a bar. The Current signed a 50-year lease agreement with Port KC, where the stadium will be built on a 7.08 acre site. Monarch Build and Generator Studio are working on the project with JE Dunn.

Conversation Starters In The Leadoff, crypto companies hit the brakes on sports deals amid a market crash, Naomi Osaka is launching a media company, mobile sports betting operators struggle with New York’s high tax rate, and the 2020 Summer Olympics cost Tokyo $10.5 billion. Click here to listen [[link removed]]. The House Oversight Committee released [[link removed]] a 29-page memo that summarized findings of its investigation into allegations that the Washington Commanders fostered a toxic work environment. One of the greatest tight ends of all time is calling it a career for a second time [[link removed]] — but maybe not the last. On Tuesday, Rob Gronkowski announced his retirement from the NFL via his social media channels. Subscribe to Scoreboard for more [[link removed]]. Women’s sports have grown exponentially since the passing of Title IX in 1972. Front Office Sports will celebrate this historic milestone June 23 with a virtual summit [[link removed]] that includes conversations with some of the most influential female athletes and business leaders. Register now.

SPONSORED BY HULU

Check in to Your Obsessions

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Maybe it’s a tale of true crime that gets your blood pumping. Or a long, dark trip into a dystopian reality to give you some perspective on what really matters. Or maybe the thing that floats your boat is actually a spaceship.

From Only Murders In The Building [[link removed]] to The Handmaid’s Tale [[link removed]] to Orville [[link removed]], all of your obsessions are in one place.

Book a stay at Hulu [[link removed]], and let your desires run wild. No judgements, no obligations, and no reason to stop.

Market Movers

U.S. stocks experienced gains across all three major indexes on Wednesday. Here’s a look at how sports-related stocks performed:

ATVI [[link removed]]

Activision Blizzard Inc

[[link removed]]

$75.69

[[link removed]]

+0.48%

[[link removed]] ARMK [[link removed]]

Aramark

[[link removed]]

$29.61

[[link removed]]

+1.40%

[[link removed]] UA [[link removed]]

Under Armour Inc

[[link removed]]

$8.11

[[link removed]]

+1.76%

[[link removed]] PENN [[link removed]]

Penn National Gaming, Inc.

[[link removed]]

$28.35

[[link removed]]

+3.88%

[[link removed]] FWONA [[link removed]]

Formula One Group

[[link removed]]

$54.76

[[link removed]]

-0.04%

[[link removed]] VFC [[link removed]]

VF Corp.

[[link removed]]

$45.74

[[link removed]]

-0.35%

[[link removed]] (Note: All as of market close on 6/22/22) What to Watch

Catch “37 Words” a two-part miniseries about Title IX and its impact on women’s sports on ESPN+.

How to Watch: Exclusively on ESPN+ / Stream all of “37 Words” on ESPN+ [[link removed]]*

*Sponsored content. Availability differs by market, check your local listing.

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Written by Owen Poindexter [[link removed]], Abigail Gentrup [[link removed]], Justin Byers [[link removed]] Edited by Matthew Tabeek [[link removed]]

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