Nike Exceeds Earnings Estimates by $100M Propelled by Metaverse Prep
Nike modestly exceeded Q2 estimates according to official figures released Monday. The biggest name in sneakers and apparel reported $11.36 billion in revenue during its Q2 earnings call, beating a consensus estimate of $11.25 billion from Yahoo and Bloomberg. The positive report comes even as Nike struggles through decreased wholesale numbers due to ongoing supply chain issues. However, the Swoosh attributed its strong performance in large part due to digital direct sales and their preparation for a launch into the metaverse, which includes a partnership with Roblox and their recent purchase of digital sneaker company RTFKT.
Steph Curry, Under Armour, and Rumble Kongs Mint Limited Genesis Curry Flows
Stephen Curry’s highly anticipated 2,974 Collection mint faced some slight delays on Monday, as FTX announced that it was moving the event to noon EST on Tuesday to optimize the process. However, on Tuesday morning, Rumble Kongs announced a collab with the three-point king and Under Armour to distribute 2,974 Genesis Curry Flows to commemorate Curry breaking the NBA’s all-time 3-point record. There are five unique versions of the 2974 limited mints of Curry’s historic “Record Breaker” shoe, which can be worn in the metaverse, and fans can unlock which good they receive after purchase. All of the net revenue will be donated to organizations that support access to sport.
LeBron James, Ruffles, and Pepsi Encourage Fans to “Own Your Ridges”
LeBron James is partnering with Ruffles, they announced on Monday. Over a three-year period, Ruffles and Pepsi will donate $3 million to the LeBron James Family Foundation to uplift underserved communities through education. As part of the partnership, they will launch the “Own Your Ridges” campaign, which focuses on embracing life’s challenges and will air in full on Christmas Day.
Paul George Among Investors in AvantStay’s $160M Series B
The All-Star forward scored 25 in his return to the hardwood last night in the Clippers‘ 116-92 loss to the Spurs. However, the big man is making moves beyond the court as well. George participated in a successful Series B round for AvantStay, a company that has built a platform that allows people to rent their homes out for short-term stays, while also offering assistance with decor and set up. Additionally, AvantStay has developed a concierge service as well as the technical infrastructure to support its offerings.
Maria Sharapova Nets $18M in Supergoop Sale to Blackstone
Maria Sharapova is proving that her business acumen is just as sweet as her ground shot. The five-time grand slam champion invested in skincare brand Supergoop in 2014. When the brand sold a majority stake to Blackstone this month, she took home $18 million in the deal. The news comes just a week after Sharapova was announced as an ambassador for and equity partner in Public.
FTX Adds Monumental Sports & Entertainment to Overflowing Partnership Portfolio
The cryptocurrency giant is headed to Washington. FTX announced on Monday that they will partner with Monumental Sports & Entertainment, owner of the Washington Capitals, Mystics, and Wizards, making the trio of DC teams the most recent to join FTX’s deep sports portfolio. As part of the arrangement, FTX will develop expanded fan engagement opportunities, including NFTs. The deal marks the second with an NBA team in as many weeks for FTX, who announced a partnership with the Golden State Warriors last week.
Bud Light and the NFL Agree to Multi-Year Expansion
Bud Light will remain the official beer of the NFL through the 2026-27 season, the two announced on Monday. The league has renewed its partnership with Anheuser-Busch after their previous deal was set to expire following February’s Super Bowl. Details of the new deal were not released.
PJ Tucker Sells 100 Pairs of His Iconic Sneaker Collection for a Good Cause
The NBA’s Sneaker King is selling his soles on eBay for a good cause. Now you can cop a pair of one of PJ Tucker’s prolific sneaker collection with a portion of proceeds to benefit Sole4Souls. Among the 100 pairs of shoes in Sizes 13 & 14 up for grabs: the mythical Diana Taurasi’s PE of the Nike LeBron 8 V2, the Derek Anderson PEs of the Air Jordan 5 Retro, the “Heineken” Nike Dunk SB Lows, the “Eminem” Air Jordan 2 Retros, and the “Texas2Toronto” PE of the Kobe 6.
CAA’s Parent Group Files for IPO
CAA is positioning itself to follow in the footsteps of Endeavor, as reports emerged on Monday that the talent agency is preparing to go public. Its parent company, TPG, a private equity firm that owns a majority stake in the agency, filed for an IPO and expressed plans to raise $100 million. CAA is a major player in the sports space and boasts a current client list that includes Devin Booker, Chris Paul, Deebo Samuel, and many more.
Forest Whitaker Announced as Strategic Investor in NBA Africa
Academy Award-winning actor Forest Whitaker has joined NBA Africa as a strategic investor, the NBA announced Tuesday. Whitaker, who is a director, producer, and social activist, is also the CEO of the Whitaker Peace & Development Initiative, a non-profit organization aiming to promote the values of peace, reconciliation, and social development in communities impacted by conflict and violence, which runs programming in South Africa, South Sudan, and Uganda. In addition, the league announced that economist and New York Times best-selling author Dr. Dambisa Moyo will also join Whitaker as a new investor.
Drone Racing League & Draganfly Go Back to School
The Drone Racing League has announced an expansion of its DRL Academy STEM (science, technology engineering, and mathematics) program in partnership with Draganfly, Steve Wozniak’s Woz Ed, and Robotify, a virtual platform that teaches students robotics and coding. The four partners will debut an interactive “Science of Drone Racing” curriculum for middle school students in 2022. The course will teach children how to fly and build drones through physical kits, as well as how to code drones through esports-style programming competitions. Students will also have the chance to watch professional pilots compete during exclusive DRL season viewing events.