Washington Spirit Inches Closer to Ownership Resolution with NWSL Vote
The Washington Spirit‘s ownership drama continues to rattle on; however, a vote by the NWSL that took place over the weekend indicates that the end is near. The league voted to allow non-equity, nonvoting investors to become shareholders in the NWSL team. The decision opens the door for Michelle Kang to take over ownership from Steve Baldwin, who has maintained a controlling stake in the team since 2019.
Miller Lite Enters the Metaverse with Exclusive Super Bowl Commercial
Whether you watch the Super Bowl for the football or the commercials, this year’s game will keep you entertained. But this weekend, Miller Lite confirmed that its upcoming Super Bowl ad will air exclusively in the metaverse. The Molson Coors-owned brand will host a virtual bar inside Decentraland, where it will debut a new ad it created for the big game.
“Crypto Winter” Gets Frosty, Bitcoin Dips Below $34,000
It’s been a challenging week for cryptocurrency enthusiasts, as they’ve seen their portfolios dip to historic lows. The “crypto winter” continued to ravage on on Monday morning, as Bitcoin dipped as low as $33,075 for the first time since July. The volatile market is starting to have ancillary impacts, as several crypto companies were down in pre-market trading.
Atlanta Braves, F1 Ownership Group Tops Forbes List of Most Valuable Sports Empires
Forbes has released its annual list of the most valuable sports empires, and while the names of the ownership groups may not be familiar, their holdings certainly are. Liberty Media, the company behind the World Series champion Atlanta Braves, Formula 1, Drone Racing League, Kroenke Arena Company, and Meyer Shank Racing topped the list with a $17.2 billion valuation. Kroenke Sports and Entertainment took the number two slot, with a valuation of $10.54 billion with its ownership stake in Los Angeles Rams, Colorado Avalanche, Denver Nuggets, Arsenal FC, esports investments, Colorado Rapids, Colorado Mammoth, Altitude Sports and Entertainment, and Kroenke Arena Company. Fenway Sports Group, which includes LeBron James among its ownership team and completed the purchase of the Pittsburgh Penguins late last year to add to its deep portfolio, rounded out the top three at $9.81 billion.
Auto Companies Drive NFL Ad Sales
The NFL‘s ad sales are in, and this year looks quite a bit different than the last. For the first time this season, mobile sports betting companies like FanDuel and Draft Kings were allowed to advertise, flooding the broadcasts with over $150 million in ad buys. However, the automotive industry remained king, with $828 million in ads, a slight decrease year over year. It was followed closely by auto parts companies at $810 million. Wireless companies, fast food, and streaming services capped off the top 5.
Wynn Resorts Seeks to Escape Mobile Sports Betting Game
Wynn Resorts is looking to sell. The Vegas-based company is seeking to offload its mobile sports betting division due to astronomical operating costs, hefty taxes, and costly incentives required to attract new customers, the New York Post reports. The company had previously reported a valuation of $3 billion for the business, but insiders indicate that that number has plummeted as low as $500 million as the company searches for a buyer.
Patrick Mahomes, Chiefs Beat Bills to Head to Record-setting Fourth Straight AFC Championship
The NFL Divisional Championship round did not disappoint. Each of the four games came down to the final seconds, keeping fans on the edge of their seats. The Chiefs/Bills matchup capped an epic weekend divisional round action. The two teams exchanged four scores inside the final two minutes, triggering a deciding overtime. After winning the coin toss, the Chiefs drove down the field and Mahomes connected with his reliable favorite target, Travis Kelce, in the end zone to secure the W. The Chiefs will play the Bengals in the AFC Championship, as the Rams will take on the 49ers in the NFC.
NHL Doubles Down on Esports
The NHL is willing to try many things as it seeks to expand its fanbase. As the league prepares to host its fifth annual World Gaming Championship, it has a six-figure prize to lure competitors and potential new fans of the game. While league officials have not expressed plans to replicate the NBA’s 2K league, they have indicated an increased investment in esports. Currently, a third of all teams have an esports vertical, with more expected to come online in the future.
Australian Open Action Heats Up
This year’s Australian Open has brought forth no shortage of storylines. As the on-court action moves towards the quarterfinals, there will be an exciting mix of highly ranked favorites and new faces. On Monday, French player Alize Cornet advanced to her first-ever major quarterfinal and No. 115 Kaia Kanepi stunned No. 2 Aryna Sabalenka; meanwhile, Ash Barty continues to dominate in front of the hometown crowd.
Read more on the details of what’s at stake in Melbourne.