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The Daily's Hot Reads For Thursday: Shoe Me The Money

04 / 17 / 14

The L.A. REGISTER's Joseph Pimentel writes, " Fueling the high sales of athletic shoes are a number of factors : a consumer shift to lead an active lifestyle, a demand for innovative designs and technology, and attaining the latest exclusive sneakers" ( L.A. REGISTER ). Meanwhile, the N.Y. TIMES' Gr...

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04/17/14
Rio Increases Budget For '16 Olympics

Brazilian authorities "unveiled an infrastructure budget" of US$10.76B for the '16 Rio Games, which is 25% "more than planned, as they try to reassure the world they can deliver facilities on time," according to Pedro Fonseca of REUTERS. The budget "covers 27 projects in urban development and public ...

Tags: Olympics, Brazil, IOC

04/17/14
Herb Kohl Sells Bucks For $550M

N.Y.-based Fortress Investment Group co-Founder Wesley Edens and Avenue Capital Group Chair & CEO Marc Lasry have "agreed to buy" the Bucks for $550M from Herb Kohl and to dedicate at least $100M to "construction of a new arena" in Milwaukee, according to Sean Ryan of the MILWAUKEE BUSINESS JOUR ...

Tags: Franchises, NBA, Milwaukee Bucks

04/17/14
Executive Transactions

The adidas Group promoted TaylorMade-adidas Golf CEO MARK KING to President of adidas Group North America, effective June 1, succeeding PATRIK NILSSON , who is leaving for personal reasons. King will be in charge of all adidas and Reebok operations in the North American market and report directl ...

Tags: People and Pop Culture

04/17/14
Lexington Mayor Pushing Forward On Rupp Upgrades

Lexington Mayor Jim Gray yesterday said that he "plans to push forward" on a $310M proposed renovation of Rupp Arena and the attached Lexington Convention Center, but added that it is "too early to say how a lack of state funding will affect the timetable for the project," according to a front-page ...

Tags: Facilities

04/17/14
Judge Denies NFL Concussion Settlement

U.S. District Court Judge Anita Brody yesterday "denied preliminary approval" of the $765M settlement between the NFL and "more than 4,500 of its retired players in the concussions case that has been in the spotlight," according to Jeff Blumenthal of the PHILADELPHIA BUSINESS JOURNAL. Plaintiff layw ...

Tags: Leagues and Governing Bodies, NFL

04/17/14
Lakers RSN Ratings Reach New Low

The audience for Lakers games on Time Warner Cable SportsNet took a “dramatic tumble this season," as the team's 2.15 local rating in L.A. marks what "is believed to be a new low for the franchise,” according to Joe Flint of the L.A. TIMES. The previous low was a 2.71 rating for the '04- ...

Tags: Media, Los Angeles Lakers, Los Angeles Clippers, Time Warner Cable, NBA

04/17/14
Nike, USATF Sign 23-Year Extension

Nike and USA Track & Field yesterday announced a 23-year sponsorship extension that is valued at more than $400M. The current eight-year deal Nike signed with USATF through '16 is worth an estimated $10M a year. Sources valued the new deal, which runs from '17-40, at more than double that: $20M+ ...

Tags: Marketing and Sponsorship, Nike, USA Track and Field

04/17/14
Names In The News

The HOLLYWOOD REPORTER named its "35 Most Powerful People In Media" for '14, and the list includes NBC's BOB COSTAS , NBC Sports Group Chair MARK LAZARUS , CBS Sports Chair SEAN MCMANUS and ESPN President JOHN SKIPPER ( HOLLYWOOD REPORTER, 4/20 issue ). MONEY ON MY MIND : In Philadelphia, ...

Tags: People and Pop Culture

04/17/14
Purdue Upgrading Ross-Ade Stadium

Purdue Univ. as part of a new renovation project will add "two large video boards, including a giant scoreboard that will, in essence, enclose the south end zone" of Ross-Ade Stadium, according to Pete DiPrimio of the Ft. Wayne NEWS-SENTINEL. Texas A&M currently has the nation's largest scoreboa ...

Tags: Facilities, Big Ten

04/17/14
Kohl Praised For Dedication To Milwaukee

Following "just two winning seasons" since '01 and a franchise-worst 15-67 record in '13-14, Herb Kohl recognized that "the time was right" to sell the Bucks , according to Gary D'Amato of the MILWAUKEE JOURNAL SENTINEL. The losing "ate at" Kohl, who yesterday agreed to sell the team ...

Tags: Franchises, NBA, Milwaukee Bucks

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