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Kobe Bryant Hopes To Leverage Appeal In Asia With New Venture-Capital Tech Fund

Published in SportsBusiness Daily on 08 / 23 / 16

Former NBAer Kobe Bryant yesterday unveiled his new $100M venture-capital tech fund , and while he "acknowledges he's no expert on the tech industry," there are "areas where he's been prescient, including Asia," according to Dave & Lien of the L.A. TIMES. His partner, Jeff Stibel, said Bry...

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Gilbert, WPP Start Courtside Ventures Fund

Cavaliers Owner Dan Gilbert and ad agency WPP have combined to contribute $35M "into a new investment fund they’re calling Courtside Ventures," according to Michael Smith of SPORTSBUSINESS JOURNAL. The venture capital fund will "work with Bruin Sports Capital in a partnership to invest in earl ...

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Nike Expects Continued Growth

Nike on Tuesday posted sales figures for Q2 '16, and the company said that it "expects continued growth the remainder of the fiscal year" after the quarter which ended Nov. 30 had sales up 4% from the same period a year ago, to $7.7B, according to Allan Brettman of the Portland OREGONIAN. Profi ...

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Disney Sees Sharp Decline In Shares

Shares of Disney "dropped the most in three months Friday" after the company reported that ESPN "lost 3 million subscribers in a year, reviving concerns about shrinking demand for traditional pay-TV packages and dragging down U.S. media stocks," according to Cecile Daurat of BLOOMBERG NEWS. A filing ...

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Warriors Ownership Invests In Apparel Brand

California-based smart fitness apparel company Athos yesterday raised $35.5M "from a bunch of investors," including Warriors co-Owner Joe Lacob and team investor Chamath Palihapitiya, according to Kurt Wagner of RE/CODE. Athos "offers workout shirts and pants laced with sensors t ...

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Wilpon Invests In E-Sports Company Skillz

Sterling Equities, controlled by Mets co-Owner Fred Wilpon, has made an undisclosed investment in Skillz, a S.F.-based outfit that helps power e-sports competitions. The Sterling Equities investment adds to a $15M Series B round of venture capital funding announced in September that also included Pa ...

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Disney's Iger Bullish On ESPN

In reporting its Q4 earnings, Disney noted that ESPN’s affiliate revenue rose 8% and advertising about 9%, "excluding the impact of a 53rd week on the company’s fiscal calendar and the absence of the men’s World Cup that aired last year," according to Ben Fritz of the WALL STREET J ...

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Adidas Q3 Profits Up 10%

adidas today "raised its full-year guidance" after Q3 net profit "rose 10% on strong demand" for its Reebok and namesake brands, according to Ellen Emmerentze Jervell of the WALL STREET JOURNAL. The company "reported net profit" of $339M in Q3, up from $307M in the same period last year. Strong sale ...

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Leonsis, Cuban, Jordan Reach Deal With Sportradar

European sports data company Sportradar has closed a strategic funding and partnership deal with Revolution Growth, co-founded and co-led by Monumental Sports & Entertainment Chair Ted Leonsis, along with Mavericks Owner Mark Cuban and Hornets Owner Michael Jordan. Revolution Growth, Cuban and J ...

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Jury Rules Against GSP In KPMG Lawsuit

A New York jury last week ruled against sports investment bank Galatioto Sports Partners (GSP) in its $37M lawsuit against KPMG. A source said GSP plans to appeal. The New York State Supreme Court case stemmed from an audit KPMG did for the defunct Hicks Sports Group, which GSP relied on to len ...

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Callaway Raises Full-Year Earnings Forecast

Callaway Golf shares on Thursday rose nearly 9% after the company "raised its full-year earnings forecast on the strength of cost savings and market share gains," according to Mike Freeman of the SAN DIEGO UNION-TRIBUNE. The company, which on Wednesday reported that Q3 sales rose 4% YOY to $176 ...

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