June 23, 2022

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Title IX, which prevents any educational institution that receives federal funds from discrimination “on the basis of sex,” became law 50 years ago today. It changed the world forever by giving female athletes more access to sports, but there’s still more to achieve [[link removed]] on the road to true equity.

College Players Enter NBA Draft With NIL Deals for First Time [[link removed]]

David Banks-USA TODAY Sports

Leaving NCAA basketball for the NBA Draft used to open two major revenue opportunities for players: salaries and sponsorships.

But Thursday evening’s draft will be a bit different. For the first time, a group of players will join NBA teams with more money in their pockets than ever before — thanks to name, image, and likeness rules.

For the past year, NCAA athletes have been allowed to sign endorsement and sponsorship deals. Men’s basketball players raked in 17% of all such compensation reported [[link removed]] through Opendorse’s platform — second only to football.

Top Projected Picks

To understand the magnitude and success of NIL endorsements for top basketball players, look no further than the existing portfolios of two projected [[link removed]] top picks.

Duke’s Paolo Banchero has inked deals with brands like JD Sports, Yahoo Sports, Panini America, and NBA 2K. His NIL valuation, per On3, topped [[link removed]] $240,000.Gonzaga’s Chet Holmgren has partnered with companies like Bose and Topps. His On3 NIL valuation [[link removed]] is almost $300,000.

Top NBA contracts pay out much more than these deals, but given the marketing skills they’ve already developed through NIL, their earning potential could be higher than any other generation in NBA history.

Titans, Nashville Wrapping Up Plans for $2.2B Domed Stadium [[link removed]]

Kirby Lee-USA TODAY Sports

The Tennessee Titans and Nashville’s Metro Council are finalizing details for a new $2.2 billion stadium that include a $200,000 study regarding the team’s current lease at Nissan Stadium.

In January, the Titans planned upgrades at Nissan Stadium that would have cost up to $600 million. The team’s current lease requires [[link removed]] the city of Nashville and taxpayers to pay for maintenance. Those rising costs have been highlighted by city leaders.

The Titans’ current lease at Nissan Stadium runs through 2039.The team claims the city would owe [[link removed]] $1.8 billion under the current terms.Nashville would be obligated to pay $894 million for upgrades between 2026 and 2039.

The Titans — valued [[link removed]] at $2.6 billion — plan to build a 1.7 million-square-foot, domed stadium in Nashville slated to open for the start of the 2026 NFL season. The venue could also host major sporting events, including WrestleMania, NCAA championship events, and the Super Bowl.

Payment Plan

The Adams family, owners of the Titans, will contribute $700 million to the new stadium project, while Metro City Council will provide roughly $700 million via revenue bonds. Metro Nashville Sports Authority will also add another $700 million.

Metro is also exploring additional funding by raising [[link removed]] the city’s hotel-motel tax. In April, it submitted an amendment to a bill in the House finance subcommittee to raise the tax from 6% to 7%.

The increase is likely to generate an annual$10 million in additional revenue.

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Bruin Capital Sells Sports Tech Provider Used By FIFA, NFL [[link removed]]

Deltatre

Equity firms Bain Capital and Nextalia SGR have entered an agreement to purchase Deltatre from Bruin Capital.

Financial terms were not disclosed, though the deal reportedly [[link removed]] values the sports technology provider between $700 million and $900 million. When Bruin acquired Deltatre in 2016, the company was valued at around $159 million.

The company offers [[link removed]] streaming solutions for content distribution, live broadcast solutions, data, and graphics, and has a presence in 14 countries.

Deltatre’s clients are some of the world’s biggest sports entities, including FIFA, the Premier League, UEFA, the NFL, and MLB.

An estimated 25 million users access the company’s streaming solutions each day.The company reports that 20% of internet users have engaged with a Deltatre product.

Deltatre anticipates [[link removed]] $180 million in 2022 revenue this year, with about half expected from the U.S.

The deal is subject to regulatory approvals. The split between Bain and Nextalia SGR wasn’t disclosed.

Bain’s Gains

Bain Capital has around $160 billion of assets under management, making it one of the largest private investment firms in the world.

Its interest in sports has long been apparent — it even offered to buy all 30 NHL teams for $3.5 billion back in 2005. Steve Pagliuca, managing general partner of the Boston Celtics, is on Bain’s leadership team.

Bruin, on the other hand, has been looking for cash. It raised $600 million in 2019 from CVC Capital Partners and the Jordan Co., then sold a large stake in On Location Experiences in 2020.

Conversation Starters In The Leadoff, Qatar is expecting a $17 billion economic boost from the World Cup, ESPN’s deal with the NHL leads to increased viewership, the NBA looks to Africa for its latest pool of talent, and a group of former pro soccer players push for an NWSL expansion team. Click here to listen [[link removed]]. Quarterback Arch Manning has announced his commitment [[link removed]] to Texas. He is considered the most valuable high school football recruit in the nation at $3.1 million, per On3 NIL. On Thursday, ESPN’s Malika Andrews will make history [[link removed]] as the first woman to ever host the NBA Draft. While the Bronx Bombers dominate the headlines, an unexpected, young — and inexpensive — contender for the AL pennant is rising in the Midwest [[link removed]]. On Wednesday, the Cleveland Guardians twice rallied from multi-run deficits to top the Minnesota Twins 11-10 on the road. Subscribe to Scoreboard for more [[link removed]].

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One-Zero Sports & Entertainment Venture Summit

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Join Techstars on July 6-8 in Indianapolis for The One-Zero Sports & Entertainment Venture Summit [[link removed]].

Each session will feature top sports venture capitalists and founders who are investing and building within sportstech categories. The VC’s include Ian Doody at PowerHouse VC and Edward King at Acies, among others. Founders include Jeremy Levine at Underdog, Khalil Zahar at Fight Camp, NBA All-Star and entrepreneur Baron Davis and more.

The summit will also include the 2022 Techstars Sports Accelerator [[link removed]] Demo Day, powered by Indy. Each ticket includes access to panels, fireside chats, demo day pitches, VIP networking sessions, food, and drinks.

Get your tickets now [[link removed]].

Market Movers

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

COLM [[link removed]]

Columbia Sportswear Co.

[[link removed]]

$73.80

[[link removed]]

+0.90%

[[link removed]] MTN [[link removed]]

Vail Resorts Inc.

[[link removed]]

$225.53

[[link removed]]

+0.91%

[[link removed]] DAKT [[link removed]]

Daktronics Inc.

[[link removed]]

$3.05

[[link removed]]

+0.99%

[[link removed]] PTON [[link removed]]

Peloton Interactive Inc

[[link removed]]

$10.51

[[link removed]]

+6.27%

[[link removed]] MSGS [[link removed]]

Madison Square Garden Sports Corp

[[link removed]]

$151.06

[[link removed]]

-0.96%

[[link removed]] CZR [[link removed]]

Caesars Entertainment Inc

[[link removed]]

$39.52

[[link removed]]

-2.52%

[[link removed]] (Note: All as of market close on 6/23/22) What to Watch

The 2022 NBA Draft takes place Thursday tonight at the Barclays Center.

How to Watch: 7:30 p.m. ET on ESPN

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Written by Amanda Christovich [[link removed]], Justin Byers [[link removed]], Abigail Gentrup [[link removed]] Edited by Matthew Tabeek [[link removed]]

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