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Welcome back to Spotlight! Two of the biggest stories in sports right now are if and/or when professional athletes will be popular. The first is a case (unofficially titled “You Can’t Eat Your Cake and You Can’t Eat It”) in which several professional golfers who received a ransom from the king from LIV Golf, which is backed by the Saudi sovereign wealth fund, are seeking a ruling to restore their participation PGA Tour playoff series. If you think that’s farther than a hole-in-one on a par-5, you’re right. After all, as the judge inferred, golfers made more money on the LIV Tour than they could reasonably expect to earn on the PGA Tour.
Elsewhere, Cleveland Browns quarterback Deshaun Watson is awaiting word on how long he will be suspended over the dozens of sexual assault allegations made against him during his tenure with the Houston Texans. Originally, Judge Sue L. Robinson ruled that Watson would miss the first six games of the season. The ruling has since been appealed by the NFL, and Commissioner Roger Goodell is now seeking a season-long suspension of Watson. Regardless, the Cleveland Browns have scheduled Deshaun Watson to start the team’s first preseason game. So, either the Cleveland Browns know something we don’t know, or they are the Cleveland Browns. Regardless, the controversy surrounding LIV Golfers and Watson has left them out of reach for brands looking for endorsement partners. Suffice to say, that’s not the focus they’re looking for. However, for you, here is the “spotlight” you are looking for:
- Consumer watchdog Truth in Advertising has issued warning letters to numerous celebrities peddling NFT projects, informing them that failure to disclose the project’s financial interests may violate Federal Trade Commission rules. Much of the public still needs to disclose what an NFT is.
- Green Bay Packers quarterback Aaron Rodgers recently revealed that his game improved after drinking ayahuasca, which could bring LSD closer to the mainstream. Who can argue with it? After all, Rodgers became the first player in NFL history to win 32 Super Bowls in a single season.
- Perhaps to further capitalize on his recent acquisition of Welsh football club Wrexham AFC, Ryan Reynolds and his production company Maximum Effort have struck an unscripted first-view development deal with sports streaming service FuboTV. Reynolds continued to add to the streak that started when he decided he was no longer the Green Lantern.
Endorsement deals, sponsorships and investments
As NFL stars join psychedelic endorsement celebrity roster, are drugs finally mainstream?
August 5, 2022 by Daily Mail
Athlete Aaron Rodgers says the South American hallucinogen ayahuasca helped him have his “best season” in the NFL. He joins a growing list of celebrities and tech pundits bragging about psychedelics.
Crypto firms spend $2.4 billion on sports sponsorships
August 5, 2022 via Bloomberg (subscription may be required)
Crypto.com, Coinbase, and FTX are moving aggressively to match the marketing prowess of automakers, beer brands, and other big-ticket advertisers.
Equality for female athletes: in this case it is the liaison for sponsorship fees
August 5, 2022 via Los Angeles Times
An online sponsorship platform aims to close the pay gap in sports with a single sponsored Instagram post.
sporty
Serena Williams is retiring from tennis with $450 million, and her net worth has some incredible numbers
August 9, 2022 via WWD Footwear News
She’s the highest-paid female athlete in the world, but do you know how much Serena Williams is worth? According to Sportico, Williams will retire from tennis with $450 million, more than all female athletes in the world.
Breaking LIV Golfers v. PGA Tour at Federal Court Tee
August 9, 2022 via Sportico (subscription may be required)
Tuesday’s court hearing will mark the first U.S. legal test of LIV Golf’s emergence and the PGA Tour’s efforts against its new rival.
F1 revenue up 49% as COVID-19 pandemic series emerges
August 5, 2022 via Autosport
Both seasons feature seven Grand Prix races between April and June, and as the effects of the COVID-19 pandemic recede, a useful comparison can be made. The number of races is important because F1 distributes its annual revenue based on the number of races held in each quarter.
NFL calls for Watson suspension, seeks tougher punishment
August 3, 2022, via Sportico (subscription may be required)
The NFL announced that it has appealed the decision to suspend Cleveland Browns quarterback Deshaun Watson for six games.
music career
Inside Olivia Newton-John’s $85M Empire
8 Aug 2022 via Adelaide Advertiser
Respected actress and entertainment legend Mrs. Olivia Newton-John has passed away, leaving behind the legacy of one of the best-selling artists of her era.
‘Common decency’: Beyoncé’s renaissance sparks debate over music sampling politics
August 5, 2022 by Exec Review
Beyoncé removed interpolations from Kelis’ hit Milkshake from her new album, as well as featured samples of half of the UK Top 10 hits. It’s big business – but who benefits from it?
Justin Timberlake royalties help back $222 million bond
August 5, 2022 via Bloomberg (subscription may be required)
Hipgnosis Song Management relied on hits from the likes of Justin Timberlake, Nelly Furtado and Leonard Cohen to lure investors into its first music royalty-backed bond offering.
Film and TV
Best-effort production by Ryan Reynolds, FuboTV enters multi-year, multi-pronged partnership, including first-look unscripted deal
August 8, 2022 via Business Wire
Maximum Effort Productions, the production company co-founded by Ryan Reynolds and George Dewey in 2018, and FuboTV Inc., the leading sports-first live TV streaming platform, announced a first-of-its-kind deal for unscripted content.
Apple may sign top 10 streaming rights deals
August 9, 2022 via Mac Rumors
According to The Athletic, Apple is in talks for Big Ten college football and basketball streaming packages.
CBS and NBC will reportedly replace ESPN as Big Ten’s secondary TV partner Eleven Warriors
August 9, 2022 via Google Business News
According to Sports Business Journal’s John Oland, CBS and NBC have emerged as the “clear” frontrunners for top 10 TV rights with Fox, while ESPN is looking outside.
Non-Fungible Tokens (NFTs)
Celebrities fight shilling NFTs without legal disclosure
August 9, 2022 by Futurism
According to the regulator, they broke the law. Shilling NFTs A consumer watchdog group has issued a stern warning to more than a dozen celebrities for promoting NFT collectibles without revealing whether they profited from them.
Tom Brady bought the Bored Ape NFT for $430,000 in April. Since then, he has lost tens of thousands of people to it.
August 8, 2022 by Business Insider
NFL quarterback Tom Brady lost tens of thousands of dollars on his Bored Ape NFT.
NFTs are conquering football
August 6, 2022 via Wired
On Friday, July 29, an auctioneer at Sotheby’s in New York sealed a piece of sporting history: Barcelona icon Johan Cruyff’s volley against Atlético de Madrid in December 1973.
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