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February 28, 2023

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MLB Ditches StubHub For $100 Million SeatGeek Deal

Effective immediately, MLB is replacing StubHub with SeatGeek. Per Forbes, SeatGeek will become MLB’s official secondary ticket marketplace after the mobile platform agreed to pay the league $100 million per year over five years. Sportico later reported that the “minimum” floor of the deal is a $400 million guarantee. Why the sudden change? “We’re eager to tap into SeatGeek’s extensive user base across numerous categories to reach an even wider audience of potential attendees,” MLB Chief Revenue Officer Noah Garden said in a statement.

Boardroom’s Anthony Puccio has more details here.


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The Weeknd Breaks Spotify Record

The Weeknd is no stranger to breaking records. On Monday evening, Spotify announced via Instagram that he became the first artist in Spotify history to reach 100 million monthly listeners. Rewind back to November, the streaming giant announced Abel as the fourth-highest-streamed artist in 2022 in its annual Wrapped tradition.

Apple TV+ Releases ‘Ted Lasso’ Trailer

On Monday, Apple TV+ released the season 3 trailer for Ted Lasso, a 12-episode season beginning on March 15. New episodes will follow every Wednesday as AFC Richmond faces media predictions of a last-place finish in the Premier League. The show won the Emmy for Best Comedy Series in its first two seasons.

TD Bank Reaches $1.2 Billion Settlement in Ponzi Scheme Lawsuit

TD Bank — along with two other banks — agreed to pay $1.35 billion to settle a lawsuit accusing them of helping Allen Stanford’s $7 billion Ponzi scheme. The bank will pay the bulk of it ($1.2 billion) to a court-appointed receiver, who will pay back the victims. Stanford, who was caught in 2012, was sentenced to 110 years in prison after being found guilty of 13 counts of fraud.

Lasry Set for Major ROI in Selling Bucks

Marc Lasry is reportedly selling his stake in the Milwaukee Bucks to Jimmy and Dee Haslam. The $3.5 billion valuation will be the second-highest for an NBA team when the league approves the sale. The Haslams, who collectively have a net worth of $12 billion, also own the Cleveland Browns and the Columbus Crew of Major League Soccer. The sale is still pending league approval. If it goes through, Lasry and hedge fund billionaire Wesley Edens will have made a 600% return on investment from 2014 when they paid $550 million for the team.

Boardroom’s Anthony Puccio has the full details here.

Sotheby's Set to Auction the “Mona Lisa” of Sneaker Collecting

Michael Jordan’s jersey from Game 1 of the 1998 NBA Finals sold for a record price among game-worn memorabilia last September. Next? His sneakers. Sotheby’s will present a collection of six Nike Air Jordan shoes — all of which MJ wore during the six crucial championship games that the Chicago Bulls won in the 1990s. The items presented are the Air Jordan 6, 7, 8, 11, 12, and 14s. Head of streetwear and modern collectables Brahm Wachter described the collection as the “Mona Lisa” of sneaker collecting and sports memorabilia. The collection will be presented on Tuesday for private sale at an undisclosed price.