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: RICK HENDRICK -- With the Charlotte-Mecklenburg school system struggling to find ways to fund middle schools sports, the Hendrick Motorsports owner swoops in to provide a solution. His Hendrick Automotive Group will pay the school system $250,000 in a sponsorship deal that will allow the district to offer a complete slate of sports for the '11-12 season. Under the agreement, HendrickCars.com will receive exposure during high school and middle school sports. But more importantly, Hendrick and his companies will benefit from the goodwill generated by the civic-minded move.
LOSE: CHARLES WANG -- Nassau County residents, already paying some of the highest property taxes in the U.S., reject a plan to borrow up to $400M to construct a new arena for the Islanders. Voters clearly are turned off by the prospects of higher taxes -- especially since the money was tagged to help the billionaire Islanders owner -- and some say the underwhelming turnout at the polls also signals displeasure with the direction of the struggling franchise. Private developers are now being sought to rework an arena deal before the team’s Nassau Coliseum lease expires in ’15. But with plenty of relocation options available, the franchise’s future is far from certain.
DRAW: CYCLING -- The sport gets a boost as Amgen agrees to continue its title sponsorship of the Tour of California for two more years, bringing security to the U.S.’ biggest bicycle race. But not long after the announcement, HTC-Highroad, one of the most successful teams in cycling over the past few years, says it will cease operations after failing to secure a title sponsor. Team Owner BOB STAPLETON cites the sport's economic structure and continuing fallout from doping allegations as hindrances to securing a backer.
