PGA Tour Reportedly Nearing $3B Deal; Red Sox, Celtics, & Falcons Owners Involved
A multibillion-dollar agreement between several popular sports club owners and the PGA Tour is reportedly nearing the finish line. According to ESPN, a deal with Strategic Sports Group, a conglomerate of wealthy team owners that includes Tom Werner and John Henry (Boston Red Sox), Arthur Blank (Atlanta Falcons), and Wyc Grousbeck (Boston Celtics), would pour more than $3 billion into a new for-profit entity called PGA Tour Enterprises. The Tour is still hoping to reach an identical deal with Saudi Arabia’s Public Investment Fund, the backers of the LIV Golf Tournament. A deal with Strategic Sports Group could come before the end of the year, and PGA Tour players will be awarded a portion of the multibillion-dollar investments.
76ers Extend Daryl Morey Through 2027-28
The Philadelphia 76ers and president of basketball operations Daryl Morey have agreed to an extension, the team confirmed Friday. The new deal will keep him in Philadelphia through the 2027-28 season. Morey arrived in Philly in November 2020, and since then, the team has boasted a 65% winning percentage through his first three seasons, making it the best mark in franchise history. Morey’s 62% (810-489) career winning percentage as an executive puts him fourth all-time in the history of the NBA. Before joining the Sixers, Morey spent 13 years as general manager of the Houston Rockets.
Chargers Fire HC Brandon Staley, GM Tom Telesco After Huge Loss to Raiders
After a disastrous 63-21 defeat against the Las Vegas Raiders on Thursday Night Football, the Los Angeles Chargers announced they’ve parted ways with head coach Brandon Staley and general manager Tom Telesco on Friday. In his three years with the franchise, Staley finished with a 24-24 record and one playoff appearance. An interim head coach and coach has not been announced, but the Chargers say they will disclose the temporary replacement “within short order.”
Spirit Owner Michele Kang Expands Soccer Empire with London City Lioness Investment
Washington Spirit owner Michele Kang has acquired the London City Lionesses in English soccer’s second division, the NWSL club confirmed Friday. Though financial terms were not disclosed, this move is another major step in her vision to grow her global multi-club organization, following her agreement in May to take over OL Feminine. Kang joined the Spirit‘s ownership group in December 2020 and became majority owner in March 2022. In a statement, the founder and CEO of Cognosante said, “I want to inspire young female athletes to keep playing and see a future for themselves in the sport they love.”
NBA Expands UnitedMasters Partnership to Highlight Artists in Africa
Branded as a label alternative for independent artists, UnitedMasters announced Friday that it has adjusted its partnership with the NBA to “expand their existing collaborations across Africa by leveraging the popularity of music, basketball and the NBA on the continent to showcase African musicians and positively impact African youth.” Through this collab, independent artists can have their music featured across various social channels in Africa. Fans will be introduced to new musicians, and the talents will reach a bigger audience of music and basketball fans.
Costco Reports $100M in Gold Sales Last Quarter
Trips to Costco usually consist of buying toilet paper and other necessary goods in bulk. These days, shoppers are flocking to the warehouse to buy one specific thing: gold. During the company’s earnings call Thursday, Costco CFO Richard Galanti told analysts that they sold more than $100 million worth of gold in its first quarter, which ended on Nov. 26. Priced at $2,000 for one as of last week, buyers are limited to purchasing only two gold bars using their Costco membership. According to CNBC, gold prices have soared by about 12% this year.