Elon Musk Strikes $44B Deal to Buy Twitter
In just 24 hours’ time, the board of directors at Twitter approved Elon Musk’s bid for the social media platform for a reported $44 billion. While the company has allegedly told employees that things will remain “business as usual” for the next six months as the deal is finalized, people everywhere are prepared for a major shift. The news sparked a series of related outcomes, including a spike in Musk’s favorite cryptocurrency, Dogecoin, which increased nearly 30%. Additionally, key Twitter personnel – both past and present – are set to earn a substantial payout from the deal, including $39 million for current CEO Parag Argawal and $978 million for founder and former CEO Jack Dorsey, according to The Hollywood Reporter.
LaMelo Ball Gets Branded for Hulu
LaMelo Ball and the Hornets may have been bounced from the postseason, but the 2020-2021 Rookie of the Year is still making his formidable presence known. Ball will be appearing in a Hulu commercial set to run throughout the NBA Playoffs. The ad is part of Hulu’s ongoing “Sellouts” campaign, in which big names are excessively branded with the recently revised Hulu logo, leaning into the genre of excessive advertising.
Disfigured T206 Wagner Sells for $1.528M
Between 1909-1911, American Tobacco produced an extended run of cards for a number of players in the league, but Honus Wagner demanded that the company halt production of his likeness because he wanted to be a role model. The directive introduced a scarcity in the market and set the stage for collectors in the modern market. The T206 Wagner has become the pinnacle of collecting over the past few years, so much so that investors are willing to lay down millions of dollars for even the most deeply disfigured of the original run. One person paid $1,528,065 for a card that has no borders at the Robert Edwards Auctions spring auction. The card was previously purchased in 2019 for $540,000.
Get on our list for weekly sports business, industry trends, interviews, and more.
Kevin Hart Sells $100M Stake in HartBeat to Private Equity Partner
In a quest to cash in on the opportunities introduced by the streaming service wars, Kevin Hart has found an outside partner. The stand-up comedian and actor sold a $100 million stake of his production company, HartBeat, to Boston-based Abry Partners. The company is valued around $650 million. Hart is not the first celebrity to take this approach, and follows in the footsteps of Reese Witherspoon, Will Smith, and LeBron James, each of whom have teamed up with a private equity partner. HartBeat is charting its future expansion, having just filed for a number of metaverse patents last week, as reported by trademark attorney Josh Gerben.
Iverson Classic Teams Up with NFT PRO for Commemorative NFT
Each year, some of the biggest names in the next generation of hoopers head to Memphis to demonstrate their skills in the Iverson Classic. This year’s roster will include Amari Bailey, Dior Johnson, and Cason Wallace, and will include a new feature for fans. Since its inception, the Iverson Classic has been committed to “changing the culture” and continues to do so with the announcement of its new NFT marketplace, the Iverson Classic Metaverse. The NFT offerings include tickets, jerseys, and more, sparking a new opportunity for fan engagement.
Yankees Extend Partnership with FanDuel
Few people are more riled up these days than Yankee fans. But now, they have something to look forward to, as they’ll have an enhanced in-stadium experience thanks to FanDuel. On Monday, the mobile sports betting company and the Bronx Bombers announced the extension of their existing partnership. FanDuel has been an Official Sports Betting Partner of the Yankees since 2020, but the move will give their sportsbook an even bigger gameday presence in the Bronx.
NFL Lists Draft Tickets on Flow Blockchain
Thursday’s impending NFL Draft has fans everywhere wondering who will be the future star to have his name called first. This year, the NFL is unlocking a new opportunity for fans to become a part of the action, launching a limited-release NFT collection on the Flow chain. The collection includes one design for each of the league’s 32 teams, limited to a run of 52 of each, which will be available for $52. It should be noted that the tickets do not actually get collectors into the event, but rather it unlocks a wide range of opportunities in the league’s evolving virtual presence.
Sedona Prince Cashes in with Riff
Last year, University of Oregon hooper Sedona Prince exposed the inequalities at the NCAA men’s and women’s tournaments, capturing content that went viral. The 6’7” star recently recommitted to another season with the Ducks, and is cashing in on her NIL potential, signing with the energy drink company Riff. As part of the innovative deal, Prince will get a blend of both cash payment and equity in the Bend, OR-based company, while also generating referral bonuses.
Get on our list for weekly sports business, industry trends, interviews, and more.
