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Sports Business

“Seat Club” Joins Ticket Offerings

January 12, 2024 by Digital Sports Desk

Here’s what “Seat Club” looked like for this week’s CFB Playoff Championship

HERE NOW, THE NOTES: You’ve heard of Sam’s Club, Lions Club, Lending Club, or Boys & Girls Clubs. Get ready for the “Seat Club.” Sports industry veteran and serial entrepreneur Cole Rubin recently launched “Seat Club,” a new marketplace designed to help consumers avoid all hidden fees and markups when purchasing tickets for live events at the lowest possible price on the secondary market. The marketplace, which sells tickets to its members at its cost without any markups or fees, officially launched this week and can be found at https://seatclub.com

“The biggest complaint consumers have in the event space, are fees and markups,” said Rubin. “Fees and markups make the ticket buying process frustrating and more expensive than necessary, so we built Seat Club as the pathway to solve these problems.

“We have spent a great deal of time talking to fans and event producers, and can now deliver this unique value proposition, where our members know they are getting the best pricing, and will save countless hours comparing ticket prices online. The price you see listed on our platform is the price you pay, with no fees added on later in the checkout process.

“There are no hidden markups, unlike other platforms who claim they don’t charge fees, but bake profits into the listed cost of tickets. Seat Club’s pricing may be as much as 35% less than competitors for the same exact tickets, which is significant, especially on high profile events. We believe in transparency, and our sole source of revenue comes from our membership fee,” added Rubin.

Seat Club’s $99/year membership includes:

  • Access to the same ticket inventory as the top secondary sites
  • No fees or markups, members buy tickets AT OUR COST
  • There is no cap of the number of tickets that can be purchased. Subscribers are entitled to unlimited ticket purchases annually.
  • Fan Protect Guarantee on tickets purchased (24/7 support staff)

(At this point in time, WWYI is not in position to vouch for Seat Club but we’ll check it out for the Celtics, Bruins, College Hoops, the NY Rangers/Islanders and NY Knicks and let you know in the near future).


Filed Under: Sports Business Tagged With: Seat Club, Sports Business

Krasnoff: The Ties between Bay State and France’s Basketball Empire

December 26, 2023 by Terry Lyons

Although one of the NBA’s most awe-inspiring rookies is playing some 2,043 miles away from Boston this season, Victor Wembanyama’s story would be vastly different without the role of Massachusetts in France’s basketball fortunes.

By Lindsay Sarah Krasnoff – SPECIAL TO DIGITAL SPORTS DESK

PARIS – The Boston Celtics are primed for the long season ahead, buoyed by reinforcements who bring an international accent to the Bay State. Meanwhile, the league’s buzziest rookie, 19-year-old French unicorn Victor Wembanyama, is already lighting up courts with the San Antonio Spurs. While more than 2,000 miles separate the two, Texans owe Massachusetts for helping to pave the way for Wembanyama and his homeland to emerge as this season’s most spectacular basketball sensation.

It’s a history more than a century old, built on the foundations of informal sports diplomacy, the citizen-to-citizen exchanges that can collectively foster a slam dunk for global understanding. As illuminated in Basketball Empire: France and the Making of a Global NBA and WNBA (Bloomsbury), this evolution is the result of French-American admiration that superseded some of the cyclical, stereotypical transatlantic disdain that can mark popular memory. Instead, this amitié sportive ignited a basketball evolution that’s made the United States’ oldest ally a basketball breeding ground.

And it began 130 years ago on December 27.

Basketball’s first destination once it left American shores was France. Paris, to be exact, where the first basketball game on European soil was played at the newly custom-built YMCA building at 14, rue de Trévise. Today the Paris Y his home to the world’s oldest existing basketball court.

Yet, none of this would be possible without the role played by Melvin Rideout, one of the first young men to play the game that his teacher, James Naismith, invented in 1891. Upon graduation from the International YMCA Training School (now Springfield College), 22-year-old Rideout was dispatched to Paris to serve as the YMCA’s first-ever City of Light-based physical education director. He brought the game’s original 13 rules, but was also a symbolic ambassador, amongst the earliest, of the sporting ties between Massachusetts, the United States, and its oldest ally.

Perhaps even more consequential were the ways that Boston Celtics legends of the 1950s and 1960s imprinted parts of French basketball’s DNA. The story of Bob Cousy is perhaps more well known. His parents immigrated from France in the 1920s, and Cousy grew up speaking his parents’ mother tongue. But Spring 1959, Cousy and Red Auerbach stopped in Paris to run a clinic with the French national men’s team. Then known as Les Tricolors (today they’re called Les Bleus), the team absorbed some of the tactics, techniques, and advice that the Celtic imparted, one post-war link to powering up their style of play.

Far less known until unearthed in the process of researching Basketball Empire are the ways that Bill Russell left a significant mark on the French game. Its one he likely was never fully aware of, for there are no records of Russell doing sports exchanges in country. But it’s one that’s left an indelible mark.

The great defender’s defensive plays and aerodynamic stylings were studiously emulated by some of France’s most legendary players as they cut their teeth one hoop at a time. One was Henry “Gentleman” Fields, one of the earliest U.S. players to mark French hardcourts in the 1960s thanks to the defensive moves he introduced  after laboriously seeking to play like Russell. Another was 1970s shot king Jacques Cachemire, who as a boy in Guadeloupe discovered Russell through books and films at an American cultural institute near his house; throughout his career on the French mainland, Cachemire sported a beard in hommage to his Celtics idol. A third was hoops heroine Élisabeth Riffiod, who similarly studied game tape of Russell’s plays in order to amp-up her defense and land the one-handed jump shot (the first Frenchwoman to do so); Riffiod finally met the Boston great when her son, Boris Diaw, competed in NBA Summer League. “Speaking of Bill Russell, for me, it’s something very strong emotionally because he’s always been my idol,” Riffiod said for Basketball Empire.

These are all examples of technical and cultural exchange through sports diplomacy. As part of French basketball’s DNA, they highlight the role and importance of individual citizens on both sides of the Atlantic, and how in a globalizing sports world, one person can have far-ranging, long-reaching impacts.

France has quietly developed and exported a never-ending stream of defensive specialists to North American hardcourts, from Tariq Abdul-Wahad (the first French in the NBA, 1997) to three-time NBA Defensive Player of the Year Rudy Gobert and most recently Wembanyama. Today it is a basketball breeding ground, a pipeline for talent, a lineage that includes the Celtics’ Jérome Moiso (2000-01), Guerschon Yabusele (2016-19), and Evan Fournier (2021).

No other country outside of North America has sent more players to the NBA than France, according to the NBA. They’ve also sent a strong string of talents to the WNBA, too, including the thrilling “wow” factor of French wizard Marine Johannès with the New York Liberty. And, if you’re a fan of college basketball, you witnessed South Carolina’s 100-71 defeat of Notre Dame to tip off the 2023-24 regular season in Paris, a historic first ever for an NCAA opening night on foreign soil.

And hidden amidst this history is the surprising role played by Massachusetts in helping build France’s 21st century hoops haven–one that will be on display at the Paris 2024 Olympic Games.

Lindsay Sarah Krasnoff is a historian and consultant, author of Basketball Empire: France and the Making of a Global NBA and WNBA, Adjunct Instructor at New York University’s Tisch Institute for Global Sport, and director of the FranceAndUS sports diplomacy project.

Filed Under: Boston Sports, NBA, Sports Business Tagged With: Basketball without Borders, France, NBA, Sports Business

NCAA: Two-Time Transfers Eligible

December 15, 2023 by Digital Sports Desk

CHARLESTON, W VIRGINIA – (Staff and Wire Service Report) – The NCAA has been notifying member schools that two-time transfers will be eligible to participate in their chosen sports, at least temporarily, and bypass the “year in residency” rule.

The change in policy came after a federal judge in Charleston, West Virginia issued a temporary 14-day restraining order against the NCAA, who were denying athletes the chance to compete at their new schools for one year upon second transfer.

The lawsuit was filed by the states of West Virginia, Colorado, Illinois, New York, North Carolina, Ohio and Tennessee and stated the requirement of two-time transfers to sit out a year violated antitrust law. The state of Ohio was at the forefront of the suit.

The decision applies to all student athletes under NCAA jurisdiction in the United States.

“As a result of today’s decision impacting Division I student-athletes, the Association will not enforce the year in residency requirement for multiple-time transfers and will begin notifying member schools,” the NCAA said in a statement to The Athletic.

 

 

One athlete immediately impacted is West Virginia men’s basketball player RaeQuan Battle, who transferred from Montana State after playing two seasons for the Big Sky school. Battle began his college career playing two seasons for Washington of the Pac-12.

He had applied for a waiver under the NCAA’s mental-health provision but was denied in late October. Wednesday’s ruling will potentially allow Battle to play Saturday when the Mountaineers play UMass in Springfield, Mass.

West Virginia would be happy to see Battle on the court as he averaged 17.7 points last season while leading Montana State to the NCAA Tournament.

 

 

“Very pleased our state-based coalition was able to achieve a temporary restraining order against the NCAA’s transfer rule,” West Virginia attorney general Patrick Morrisey posted on social media. “Big win for RaeQuan Battle!”

A second hearing will be heard when the restraining order expires in two weeks when a preliminary injunction potentially could be issued. That would keep athletes in question eligible until a potential trial takes place.

According to The Athletic’s report, Ohio attorney general Dave Yost said that at least 99 athletes had been denied a waiver to compete immediately upon a second transfer and that another 44 are awaiting a decision on a waiver.

–Field Level Media

Filed Under: NCAA, NCAA Basketball, NCAA Football, Sports Business Tagged With: NCAA, Sports Business

Ross Places Dolphins on the Block

November 21, 2023 by Digital Sports Desk

MIAMI – (Staff and Wire Service Report from a News Post by Sportico) – Billionaire Stephen Ross is exploring options to sell a minority stake in the Miami Dolphins, Hard Rock Stadium and the F1 Miami Grand Prix, according to a report from sports business site, Sportico.

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Ross reportedly has been talking to multiple investors since earlier this year, according to a Sportico source.

It is possible that Ross could decide not to sell at a later date, according to the source.

The talks are reportedly intended to provide Ross with capital to invest in new sports ventures.

Ross is worth $8.64 billion, according to Bloomberg, but Forbes pegs his net worth at $11.6 billion. He is the principal owner of the Dolphins which, including team-related businesses and real estate holdings, are worth $5.24 billion, per Sportico.

In 2022, the Dolphins had revenue of nearly $600 million and an operating profit of approximately $128 million.

He is also the principal owner of Hard Rock Stadium, which had total revenues of $129.8 million, according to Fitch Ratings.

Ross also owns the Miami International Autodrome, which runs around Hard Rock Stadium and had exclusive rights to host the Miami Grand Prix through the 2032 season. The Formula 1 Grand Prix was held there for the first time in 2022.

In addition to The Related Companies, a real estate development company he founded in 1972, Ross is also the 2012 co-founder of a private investment firm, RSE Ventures, which covers sports and entertainment, media and marketing, food and lifestyle, and technology.

Ross has been active in real estate development and philanthropy for four decades. His other holdings include the Miami Open tennis event as well as investments in the Equinox gym chain and SoulCycle.

Ross is the third NFL owner looking to sell a minority franchise stake. New Washington Commanders owners David Blitzer and Josh Harris need to divest their stakes in the Pittsburgh Steelers, and the Los Angeles Chargers have a 24 percent stake available.

–Field Level Media

Filed Under: NFL, Sports Business Tagged With: Miami Dolphins, NFL, Sports Business

Rory, Keegan Join Boston Common Golf

November 3, 2023 by PGA Tour Brunch

FENWAY – (Staff Report from Official News Release) – Boston Common Golf, the new tech-forward golf team representing Boston and New England, named four world-class PGA TOUR golfers to its new team, including Rory McIlroy, Keegan Bradley, Adam Scott, and Tyrrell Hatton.

“These four remarkable golfers have achieved an extraordinary list of accolades as individuals, and together as a group, they convey an unmistakable sense of exceptionalism that not only commands respect but also instills a profound sense of awe, especially among their competitors,” said Fenway Sports Group principal team owner John Henry.

“Rory, Tyrrell, Keegan, and Adam stand at the very heart of our team’s potential for success in this groundbreaking venture and we extend our gratitude to each of them for embarking on this journey with us.

“As a co-founder of this visionary league, I want to express my sincere appreciation to Rory and for the partnership we have with Sean O’Flaherty of Symphony Ventures who has been indispensable in helping us build Boston Common Golf. The Symphony team have placed their trust in Fenway Sports Group, and it is an honor and a privilege to share this path with them.”

McIlroy currently ranks as World No. 2 and has spent more than 100 weeks as World No. 1 during his career. Along with Tiger Woods and Jack Nicklaus, he is one of only three players to win four majors by the age of 25. McIlroy turned professional in 2007 and has since recorded 24 PGA Tour victories, nine international victories, and three FedEx Cup championships. His most recent victory came at the 2023 Genesis Scottish Open in June. McIlroy grew up in Holywood, Northern Ireland, and in 2022 became the first player from outside the United States to serve on the PGA TOUR Policy Board. He is a co-founder of TMRW Sports, the parent company of TGL.

“I’m thrilled to join Boston Common Golf and to be representing Boston and New England’s rich sports culture,” said McIlroy. “TGL brings a unique dimension to the game, and I can’t wait to stand with Adam, Keegan, and Tyrrell as my teammates. It’s a fantastic opportunity that will offer us all a chance to build lasting connections and to foster regional pride that you don’t often see in the game of golf.”

Bradley currently ranks as World No. 17 and has ranked as high as World No. 10. Bradley has recorded six PGA TOUR wins, including the 2011 PGA championship, and has made two Ryder Cup appearances for the U.S. team (2012, 2014). His most recent victory came at the 2023 Travelers Championship in June. Originally from Woodstock, Vermont, Bradley currently splits his time between Jupiter, Florida and Newburyport, MA.

“I’m incredibly proud to be a part of Boston Common Golf, especially as a kid from New England,” said Bradley. “This region has a rich golfing history, and to have the opportunity to represent it is a dream come true. I come from a family deeply connected to the sport, and to represent that heritage while also contributing to a team backed by Fenway Sports Group is a unique honor.”

Scott currently ranks as World No. 45 and has ranked as high as World No. 1, most recently in 2014. Since turning professional in 2000, Adam has recorded 14 PGA Tour victories and 14 international victories. His most recent victory came at the 2020 Genesis Invitational. Scott has been selected for the Presidents Cup 10 times (first being selected in 2003 and most recently selected in 2022) and the World Cup four times (2001, ’02, ’13, ’16). Born in Adelaide, Australia, Scott currently resides in Crans-Montana, Switzerland. He became the first Australian to win the Masters when he beat Angel Cabrera in a playoff at the 2013 tournament at Augusta National.

“My first win on the PGA TOUR was in 2003 at the Deutsche Bank Championship in Massachusetts which makes being part of the New England team especially meaningful,” said Scott. “Australia may be a world away from New England, but the golfing spirit is universal. Joining Boston Common Golf feels like a unique opportunity to be part of a team deeply connected to the heart of the game and to represent a region with such a rich golfing tradition.”

Hatton currently ranks as World No. 12 and has ranked as high as World No. 5, most recently in 2021. He has one PGA Tour victory (2020 Arnold Palmer Invitational) and six international victories. His most recent success came at the 2021 Abu Dhabi HSBC Championship. Since turning professional in 2011, Hatton has been selected for three Ryder Cup teams (2018, ’20, ’23), the World Cup (2018), and the Eurasia Cup (2018). Hatton grew up in High Wycombe, Buckinghamshire, England and now splits his time between Marlow, England and Orlando, Florida.

“Being a part of the Fenway Sports Group family through Boston Common Golf is truly surreal,” said Hatton. “As a lifelong Liverpool F.C. fan, it’s a dream come true to be part of the same ownership group. This is an incredible opportunity to represent the spirit of excellence and winning that Fenway Sports Group embodies, and to play with some of the golfers I have admired throughout my career.”

TGL (presented by SoFi) is a new golf league offering a fresh approach to the sport with a focus on technology, innovation, and fan engagement. The new league will feature the world’s top players in a two-hour, team golf competition that merges physical and virtual golf airing in primetime and beginning January 9, 2024 on ESPN. The Boston Common Golf team will play in five regular season matches against the other TGL teams, followed by a four-team postseason, with a semi-final and finals series. SoFi Center, a custom-built venue in Palm Beach, Florida, will combine a data-rich virtual course with a state-of-the-art short game complex creating a unique experience for fans in the stands as well as those watching around the world.

Filed Under: Boston Sports, Sports Business Tagged With: Boston Common Golf, Fenway Sports Group, Mark Lev, Sports Biz, Sports Business

USA Basketball, Fox Sports Cut TV Deal

August 4, 2023 by Digital Sports Desk

COLORADO SPRINGS – (Staff Report from Official News Release) – USA Basketball and FOX Sports signed a multi-year agreement that will tip off Aug. 7 when the USA Basketball Men’s National Team faces the Puerto Rican National Team live from Las Vegas’ T-Mobile Arena at 10 p.m. ET on FS1. Play-by-play announcer Adam Amin will be on the call alongside Emmy Award-winning analyst Bill Raftery.

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FOX Sports will distribute the 2023 USA Basketball Showcase, which includes five USA Basketball Men’s National Team exhibitions in advance of the 2023 FIBA Men’s World Cup, as part of a larger agreement that includes the 2024 USA Basketball Showcase and 2024 Nike Hoop Summit.

The USA Basketball Showcase features a series of events that help the USA Basketball Men’s and Women’s National Teams prepare for major competitions, including the 2023 FIBA Basketball World Cup (men) and 2024 Olympic Summer Games.

“The USA Basketball Showcase features our national teams preparing for the FIBA Basketball World Cup in 2023 and the Paris Games in 2024,” said said Jim Tooley, CEO, USA Basketball. “In addition, the Nike Hoop Summit annually brings together our top young basketball talent for both men and women to compete against international all-star teams comprised of athletes from all over the world.”

USA vs. Puerto Rico caps a weeklong training camp that sees the USA begin its march to the 2023 FIBA World Cup, set for Aug. 25-Sept. 10 in the Philippines, Japan and Indonesia. Led by head coach Steve Kerr (Golden State Warriors), the USA Men’s National Team features several NBA award winners and honorees.

The USA Basketball Showcase continues in Malaga, Spain, when the United States faces the national teams of Slovenia and Spain in friendlies on Aug. 12 and Aug. 13, respectively. Both games will tip off at 3:30 p.m. ET with USA vs. Slovenia airing on FS1 and USA vs. Spain on FOX with Raftery providing analysis alongside play-by-play announcer Kevin Kugler.

Finally, the USA travels to Abu Dhabi for a final training stop before arriving in Manila for the World Cup. The USA will host the national teams of Greece on Aug. 18 on FS1 followed by Germany on Aug. 20 on FOX, with both tipping off at noon ET. Additionally, FS1 will broadcast the game between Germany and Greece on Aug. 19 at noon ET. Play-by-play announcer Jason Benetti pairs with Raftery for both games.

Filed Under: Sports Business, USA Basketball Tagged With: FIBA, NBA, Sports Business, USA Basketball

SlamBall Addresses Health and Safety

July 14, 2023 by Digital Sports Desk

IN CASE THEY GET SLAMMED: SlamBall is coming! SlamBall is coming! The teams have been stocked with big-time athletes and bruisers and they are going to be risking life and limb. No joke. To that end, the league has worked diligently on its health and safety protocol program for the coming 2023 SlamBall League: Series Six season, which begins July 21 at Cox Pavilion in Las Vegas. … The protocols are designed to make sure all athletes are receiving the best proactive health and wellness care and prevention without sacrificing any of their elite skills.

“We are a legitimate sport first and foremost, and the health and safety of our exemplary athletes is priority one,” said Mason Gordon, SlamBall co-founder. “Having been in and around SlamBall since its inception, our leadership team knows the risks and the challenges these athletes are dealing with every minute they are on the court.e are proud to have been able to address the concerns and challenges of such a high flying, action packed sport by making sure we have the right protocols and best practices in place. This makes sure that our sport is beyond reproach for anyone participating or watching as we head toward the launch on July 21.”

  • All players protective equipment include: Elbow pads, knee pads, padded combat shirt, ankleroll guards/ankle braces, and custom padded and fitted head gear.
  • In the event of a blow to the head SlamBall’s on-site certified athletic training team will put players through an extensive concussion evaluation protocol. Without exception, players must be medically cleared before returning to play or practice.
  • Players must undergo daily health and safety screenings with trained medical personnel. Injury status is updated daily and shared with coaches and executives.
  • Timeouts for any injury during play will be at the discretion of the medical staff once the officials have stopped play. Players can return only when cleared by the SlamBall medical team.
  • In addition to the 7-man roster, there are four players on a taxi squad who are available to any team needing to add a player due to injury. A coach may also elect to keep a player from the taxi squad in this situation and assign a different player to IR as he rehabs and returns to health. The safety of active players remains the priority, with the rosters adjusting for athletes that are cleared and able to play.
  • No athletes will be able to participate in practice or games unless cleared by the medical team.
  • Updates on injuries will be provided to fans/media during the regular season as needed and as approved by medical personnel and in accordance with HIPAA rules.

SLAM TV: Opening Night for the return of SlamBall is Friday, July 21, at 7pm ET and it will be broadcast exclusively on ESPN. The broadcast will include three games, beginning with Rumble vs. Mob and continuing with Slashers vs. Lava, and concluding with a showdown between the winners of each match. ESPN+ will air the entire season of games beyond those on ESPN and ESPN2. The season culminates with the SlamBall Championship Game on Thursday, August 17, at 11pm ET on ESPN2.

Filed Under: Sports Business Tagged With: SlamBall, Sports Business

PGA Tour Officials Testify Before Senate

July 11, 2023 by Digital Sports Desk

No Merger Deal is Done, According to PGA Tour Officials

WASH DC – (Staff and Wire Service Report) – PGA Tour officials painted a bleak outlook during a contentious Senate hearing Tuesday, sharing they felt no other choice was left but to merge with Saudi-backed LIV Golf in order for the tour to survive.

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“The PGA Tour is not that big in terms of players,” PGA Tour board member Jimmy Dunne said during sworn testimony Tuesday before the U.S. Senate Permanent Subcommittee on Investigations in Washington, D.C. “If (LIV) takes five players a year, in five years they can gut us. They’ve got a management team that wants to destroy the Tour. And even though (LIV) could take five or six players a year, they have an unlimited horizon and an unlimited amount of money.

“So it isn’t like the (LIV) product is better. It’s just that there’s a lot more money that will make people move.”

Several Senators cited accusations of Saudi Arabia’s human rights abuses as reason to question the May 30 framework agreement between the PGA Tour and LIV Golf.

“Today’s hearing is about much more than the game of golf,” Senator Richard Blumenthal said. “It’s about how a brutal, repressive regime can buy influence, and indeed even take over a cherished American institution to cleanse its public image.”

Dunne and Ron Price, the chief operating officer of the PGA Tour, testified on behalf of the tour with CEO Jay Monahan on medical leave. They said the framework of the planned merger is the best opportunity to allow the PGA Tour to continue to have some degree of control over the sport despite the Public Investment Fund (PIF) of Saudi Arabia’s involvement.

When pressed on the details of the financial involvement of the Saudis, Price said, “There’s been discussions. It would be a significant amount. North of $1 billion.”

Along with other Senators, Blumenthal offered harsh criticism of the financial aspects of the decision to merge.

“There is something that stinks about this path that you’re on right now,” Blumenthal said, “because it is a surrender, and it is all about the money and that’s the reason for the backlash that you see.”

Blumenthal asked Price what his options are if the PGA Tour doesn’t execute the merger with LIV Golf.

“We would still be facing a real threat that LIV Golf would continue to recruit our top players,” Price said.

Blumenthal responded, “These players that stood by you are heroes.”

Dunne testified that he shares some of the concerns Blumenthal raised in the hearing.

“I really understand Sen. Blumenthal’s concern about having them take over,” Dunne said. “…I’m concerned with what the senator is worried about. But I’m concerned if we do nothing, we’re going to end up there, they’re going to end up owning golf. They can do it.”

The proposed merger could face blockage from the Justice Department, which has been investigating the PGA Tour for its attempt to keep its players from leaving for LIV, as well as a review by the Committee on Foreign Investment in the United States, a Treasury-led committee that assesses mergers for national security purposes.

Price and Dunne stressed during Tuesday’s hearing that final details of the merger are undetermined.

Filed Under: PGA TOUR, Sports Business Tagged With: LIV Golf, PGA Tour, Sports Biz, Sports Business

NBA: Silver Opines on Wealth Funds

July 11, 2023 by Digital Sports Desk

LAS VEGAS – (Staff and Wire Service Report) – With sovereign wealth funds starting to shovel money into sports teams and leagues across the country, NBA commissioner Adam Silver said Monday that he does not see any state-owned investment groups becoming the controlling owner of an NBA franchise anytime soon.

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Per the NBA’s investment rules, the controlling owner of an NBA franchise must own at least 15 percent of the franchise.

If a sovereign wealth fund wants to get involved, it must have a passive investment in the organization that is worth no more than five percent. A prime example of this is the Qatar sovereign wealth fund, which last month agreed to purchase a five-percent stake in Monumental Sports and Entertainment, the controlling owner of the Washington Wizards, the WNBA’s Washington Mystics and the NHL’s Washington Capitals.

Silver wants to make sure that individuals are the ones that are primarily governing teams, though.

“I don’t want to say what could ever happen, but there’s no contemplation right now,” Silver said in Las Vegas. “I mean, it’s very important to us, putting aside sovereign wealth funds that individuals are in a position to control our teams, be responsible to the fans, be responsible to their partners and to the players.

“It’s very important to us that there be a person (in charge), and this is independent of sovereign wealth funds. I think that in terms of the connection with the community, the connection with the players and their other partners in the league.”

One of the most notable sovereign wealth funds as it relates to the sports is Saudi Arabia’s Public Investment Fund, which funds LIV Golf. The PGA Tour created shockwaves across the golf world last month when it announced it planned to enter a merger with LIV.

–Field Level Media

Filed Under: NBA, Sports Business Tagged With: Adam Silver, NBA, Sports Biz, Sports Business

New Pro Hockey League for Women

July 1, 2023 by Digital Sports Desk

LOS ANGELES – (Staff Report from Official News Release) – A new professional hockey league, featuring the world’s best women’s players, will launch in January 2024.

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The new league was announced today by business and philanthropic leaders Mark and Kimbra Walter, sports icon Billie Jean King, and Premier Hockey Federation (PHF) Governors Johanna and John Boynton. The league will be supported financially by the Walters and led by board members including King, sports executive Ilana Kloss, and Los Angeles Dodgers President Stan Kasten.

The new league has acquired assets of the PHF and has spent months negotiating a collective bargaining agreement with the Professional Women’s Hockey Players Association (PWHPA). These actions will enable the new league to move forward in unprecedented ways. The new league will undertake a thorough and equitable process to ensure that it features the best women’s hockey players in the world.

“I have always believed that professional sports should bring the highest levels of performance and organization, and this new league will have the backing and resources it needs to represent the very best of women’s hockey,” said Mark Walter, who is the controlling owner of the Dodgers and the WNBA’s Los Angeles Sparks, co-general partner of the ownership group of the Premier League’s Chelsea Football Club and holder of a significant interest in the NBA’s Los Angeles Lakers.

“This is an extraordinary opportunity to advance women’s sports,” said King. “I have no doubt that this league can capture the imagination of fans and a new generation of players. I want to thank Mark and Kimbra Walter for their vision and commitment to investing in women’s sports.”

“This is another step forward for the women who play professional hockey and the girls who dream of it every day,” Johanna Boynton said. “The PHF has been a game-changer and catalyst for growth in the women’s professional game. Today’s announcement builds on this foundation, represents a shared vision for one new league, and reaffirms our belief that collective and collaborative leadership is in the best interest of women’s professional hockey.”

“I celebrate this transformational moment for women’s professional hockey,” said Kasten, who represented the Walters in both transactions. “I thank Jayna Hefford, Kendall Coyne Schofield and the PWHPA player bargaining committee, Johanna and John Boynton and their partners at the PHF, and PHF Commissioner Reagan Carey for their essential roles in this historic accomplishment.”

“This new league will be unlike anything we have seen in women’s hockey,” said Honoured Member of the Hockey Hall of Fame and PWHPA lead, Jayna Hefford. “I am inspired by this generation of players who are redefining the sport. We will create dreams and opportunities for girls and women around the world for decades to come.”

“I am extremely proud of our PWHPA group, which has remained committed to our vision and steadfast in our efforts to change the landscape of women’s professional hockey forever,” said Coyne Schofield. “Over the past four years, we have worked tirelessly to close the gap on what young girls and boys could dream to become in this sport.”

“This effort is the most significant development in our game since women’s ice hockey became an Olympic sport 25 years ago,” said Carey. “Players, fans, past pioneers, and future generations deserve to see the best athletes come together to elevate professional women’s hockey as never before.”

Filed Under: Boston Sports, Sports Business Tagged With: PHF, Premier Hockey Federation, Sports Business

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DigitalSportsDesk.com
4 weeks ago

Super Bowl LX Notebook

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TL's Super Sunday Notes | NE v SEA - Digital Sports Desk

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No one will ever top the halftime act performed by Prince No one will ever top the halftime act performed by Prince
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DigitalSportsDesk.com
2 months ago

A little history on the #NBA Global Games - ... See MoreSee Less

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TL's Sunday Sports Notes | Jan 18, '26

whileyoungideas.substack.com

While We're Young (Ideas) | On the NBA's Non-Stop Global Games
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DigitalSportsDesk.com
2 months ago

So, This is Christmas

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So, This is Christmas - Digital Sports Desk

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A Collection of Memorable Christmas Columns A Collection of Memorable Christmas Columns
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DigitalSportsDesk.com
3 months ago

Remembering Stu and Bruins' new duds

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TL's Sunday Notes | December 14 - Digital Sports Desk

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“Boo-yah,” A Portrait of Stuart Scott - a must watch documentary available on the ESPN app. Boo-yah, A Portrait of Stuart Scott - a must watch documentary available on the ESPN app.
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DigitalSportsDesk.com
3 months ago

TL's Sunday Sports Notes - hold the sports for a bit ... The DIGGIES '2025 (feel free to add a favorite or two):

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TL's Sunday Notes | DIGGIES '25 - Digital Sports Desk

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The listing is a TL Top 40 award listing for some of the great and meaningful lyrics in my personal history of listening to great Rock n Roll songs The listing is a TL Top 40 award listing for some of...
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