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February 25, 2022

Giannis Invests in Wave Sports + Entertainment’s $27M Round

Giannis Antetokounmpo is no stranger to sports coverage. So investing in a company that pushes sports content across various platforms seems like a good bet. Wave Sports + Entertainment, formerly wave.tv, operates 20 brands across sports. The company announced that it has successfully completed a $27 million funding round that will allow them to begin to develop talent-led programming. The fundraising efforts attracted some other big names, including Jay Williams and Baker Mayfield

Coinbase Doubles Q3 Profits in Record-breaking Quarter

As crypto is being more widely adopted, the industry’s companies are generating massive returns. Coinbase released its Q4 earnings report this week, which showed nearly $2.5 billion in revenue – more than 25% more than the projected $1.94 billion. Market insiders were quick to point out that the success is rooted, in part, in the elevated value of the crypto market in Q4, which has dropped substantially; however, the trends, including new users, signal sustainable, positive growth. 

Russia’s War on Ukraine Reverberates through Sporting World

All eyes are on the tragic situation in Ukraine. The emerging war is the culmination of long-term tensions with Russia, and the impacts have reverberated across the globe. In sports, UEFA confirmed that it will move the Champions League final from St. Petersburg to Paris in protest against Russia’s actions. The Sacramento Kings held a moment of silence for the people of Ukraine and linked arms in solidarity with their teammate Alex Len. Len released a statement with fellow countryman Svi Mykhailiuk condemning the tragic invasion. Formula 1 announced on Friday morning that it will cancel the Russian Grand Prix.

Boardroom will continue to monitor the reactions to the war throughout sports. 

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Warner, BlackRock Elevate Diversity as They Eye Catalogue Acquisitions

BlackRock is digging into its deep pockets to team up with Warner Music Group for its next series of music catalog acquisitions, which will total nearly $750 million. As they scout potential talent, the two companies will collab with Lylette Pizarro’s Influence Media to identify the hottest acts from diverse backgrounds, with an eye towards women. The news comes in contrast to recent catalog acquisitions, which have largely focused on legacy talent, such as ZZ Top and David Bowie

Broad St Ventures Adds Two New Investors 

Broad St Ventures, a $10 million venture capital fund that is part of Malcolm JenkinsMalcolm Inc., is fully funded by Black and Brown investors. It has announced the addition of two more power players: India Robinson and Sara “Lovestyle” Hood. The two industry vets will contribute to Broad St Ventures’ efforts to bridge the generational wealth gap with investments in companies owned and operated by individuals from traditionally underserved communities. 

Bronny James Joins Marshawn Lynch and Jimmy Butler as PSD Ambassador

Bronny James is racking up NIL deals, and his most recent one will ensure that he’s got everything covered. The Sierra Canyon star signed an NIL deal with PSD Underwear. James will design a signature collection with the brand — which has a deep bench of ambassadors that includes Jimmy Butler, Ja Morant, Trae Young, Marshawn Lynch, Tyler Herro, and more.

MLS Teams Up with GreenPark Sports for Metaverse Magic

The MLS season kicks off this weekend. In advance of the first matches, the league announced its newest partnership with GreenPark Sports. Together, they will take the league to the metaverse. The American soccer league follows in the footsteps of the NBA, La Liga, and more that have teamed up with the social gaming company to build out a web3 world where fans can rep their favorite teams and battle against other MLS fans. 

Cleveland Cavaliers Ink New Deal with Caesars Sportsbook 

The Cavs are back, baby. The team is on pace to make the playoffs without LeBron James for the first time since the 1997-98 season. As the team enters the second half of the season, it has a new sponsor: Caesars Sportsbook. The two parties signed a multi-year deal, making Caesars Sportsbook the team’s official sports betting and casino partner. 

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