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SBD/Issue 15/Sports Industrialists
This Week's Newsmakers: Chicago Comes Up Short In Olympics Bid
Published October 2, 2009
THE DAILY each Friday offers our take on the performances over the past week of people and entities in sports business. Here are this week’s newsmakers:
WIN: VIKINGS -- The team is off to a strong 3-0 start and is cashing in on both the Favre-effect and the fact that they will have the Metrodome all to themselves. On the business front, a deal with Mall of America to title sponsor the Metrodome field shows creativity, while new agreements with Caribou Coffee and the Minnesota Army National Guard for gate signage at the facility help the bottom line. All this comes while the team braces for a mega-national spotlight on “MNF” and tries again to get legislative support for public funding to help secure its long-term future in the state.
DRAW: Nike -- On Tuesday, its quarterly report shows a company that is managing expenses well and is well-positioned for future growth. As Virtus Investment Partners Chief Alternatives Strategist Joe Terranova puts it, "This is a good story going forward for the market." But on Wednesday, Nike finds itself scrambling from a claim that Michael Vick had reached a deal with the Swoosh, putting the company in rare denial mode, especially when it comes to defending the athletes that it traditionally does so much to support.