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August 31, 2022

New York Yankees Purchase Stake in AC Milan

The Bronx Bombers are expanding their business portfolio across the pond and into a new sport. Yankee Global Enterprises will purchase a minority stake in defending Serie A champions AC Milan. Forbes values Yankee Global Enterprises at $6.81 billion. With the deal, the Yanks join LeBron James as part of the ownership team who joined as part of Main Street Advisors’s investment earlier this summer. 

Ciara One-Two Steps into Skincare Industry

The self-proclaimed Princess of Crunk is launching a line of skincare products. OAM, which stands for “On a Mission,” utilizes what Ciara deems her “secret sauce.” The beauty brand drops on Sept. 15 and will include five “clinical-level” products: Vitamin C Hydrating Cleanser, Vitamin C Brightening Pads, 20% Vitamin C Brightening Serum, Vitamin C Eye Revitalizer, and Vitamin C Radiance Moisturizer. The line will range from $28 to $62.

Cam Smith Lured to LIV Golf with $100M Bonus

Despite its recent stumbles, LIV Golf continues to grow. The PGA Tour alternative now enlists 26 of the world’s top 100 golfers. The Saudi Arabian-backed golf league signed Cam Smith, who sits as the world’s No. 2 behind Scottie Scheffler. In a conversation with Golf Digest, Smith indicated that it was “a business decision for one and an offer I couldn’t ignore.” The British Open champ is expected to make his LIV debut at the organization’s next upcoming 54-hole, no-cut tournament. He will be joined by five other PGA Tour members who are also making the leap. 

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NFL Preseason Outkicks Competition with 5.82M Viewers

Even in the preseason, the NFL will always command top ratings. Reports indicate that CBS‘ coverage of Sunday’s Lions-Steelers preseason warmup averaged 5.82 million viewers. For perspective, it’s more viewers than what ABC was able to pull in for Game 6 of the Stanley Cup Final. In the slow sporting season of summer, only the NBA Finals and MLB All-Star Game drew more viewers than the preseason matchup.

Tim Tebow Ushers a New Era of Professional Soccer to Jacksonville

Tim Tebow is extending his roots in the city of Jacksonville. The United Soccer League (USL)  announced that JAXUSL, a Jacksonville-based group of investors, has obtained the rights to a USL Championship expansion franchise. Tebow will serve as a supporting owner of the club which intends to join the league in 2025. Stakeholders plan to create a 15,000-capacity stadium and a world-class training facility.

South Carolina Taps Everett Sports Management as NIL Broker

The University of South Carolina has a freshly minted mascot, but that’s not all they’ve been up to on their summer vacation. The Gamecocks announced a partnership with Everett Sports Management. ESM’s deep Carolina roots made the company a natural choice for the role. Together, they will develop Park Ave, an NIL subsidiary to assist student-athletes with brand support, content development, and deal procurement.

Boardoom has all the details on the deal.

Nike and RTFKT Release 60-Piece CloneX Collection

Nike is setting out to ensure your NFTs look is dialed. The Swoosh-owned NFT company RTFKT dropped a 60-piece fashion collection that includes hoodies, sneakers, jackets, hats, and socks available exclusively for Clone X holders that can floss the virtual avatars. Through a system called forging, Clone X holders will gain access to acquire both digital and physical – aka “phygital” – goods dictated on the NFTs they hold.

Team USA Strikes Olympic Deal with Fanatics

Looking to get patriotic? Team USA announced a long-term deal with Fanatics, making them the exclusive distributor of official merch. The contract will run through the 2028 LA Summer Games. Fanatics joins Nike and Ralph Lauren as Team USA’s official apparel partners. The news comes the same week that Fanatics CEO Michael Rubin told Colin Cowherd that the company is on pace to log $7 billion in revenue for 2022 and a projected $10 billion in 2023.  

Google Doubles Down on Women’s Hoops with FIBA Sponsorship

Google is all in on women’s sports. The tech giant previously joined the WNBA as a Changemaker sponsor, making them the official Trends and Fan Insights partner to the league. Now, the company is taking its talents overseas. It announced that it will partner with the International Basketball Association (FIBA). As part of the deal, Google will be the presenting sponsor for the upcoming  Women’s Basketball World Cup, which tips off on Sept. 21 in Sydney, Australia.

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