CNBC's Jane Wells reports on the Los Angeles Lakers affordability of Kobe Bryant's new 2-year $48.5 million contract extension, and the "Black Mamba's" future business plans.» Read More
Earlier today, I sat down with Casey Wasserman, CEO of the Wasserman Media Group, to discuss the state of sports marketing.
Wachovia's name will no longer appear on the 2009 PGA Tour tournament it sponsors. In fact, the tournament won't even use the name of bank's parent company, Wells Fargo , which received $25 billion in TARP funds.
A Bank of America official told us that for every $1 they spend on sports marketing, they net $3. They also said that out of all the new checking accounts that were opened in 2008, 10 percent of those were attributed to their sports marketing programs.
With the U.S. government agreeing today to boost its stake in Citigroup to as much as 36 percent, the pressure to undo the bank's 20-year, $400 million naming rights deal with the New York Mets could be growing.
Never has a sports star returned from major surgery with so few doubters. After an eight-month absence, Tiger Woods was a heavy 4-to-1 favorite to win the WGC-Accenture Match Play Championship.
NBA commissioner David Stern told CNBC on Thursday afternoon that the league expects to close today on a deal that will add $200 million to the league's existing $1.7 billion credit facility.
On Monday, we told you the story of the Mickey Mantle baseball that was signed "F**k Yogi. Before putting it in their upcoming auction, the folks at Grey Flannel Auctions tried to sell it first for $2,750.
CNBC has learned that despite the fact that Pontiac is the official car of the NCAA and the final games are being played in the city of GM's headquarters, the car company is not inviting anyone to watch the action from the luxury suites at The Palace at Auburn Hills.
Tonight on CNBC we have an amazing documentary premiering called, “Newbos: The Rise of America’s New Black Overclass.” It is reported and hosted by my colleague and friend, Lee Hawkins of the Wall Street Journal and a contributor here at CNBC. The documentary is based on some of the reporting Lee has done for his forthcoming book of the same title.
Given the Northern Trust situation and the subsequent pullback from tournament sponsors Morgan Stanley and Wachovia, we thought it would be a good time to check in with Ty Votaw, executive vice president of the PGA Tour.
Don't expect to see any Morgan Stanley executives or clients at the PGA Tour event they sponsor in June. If they show up at The Memorial Tournament presented by Morgan Stanley, they'll be paying their own way.
Since Tiger Woods last played, the stock of some of his sponsors have plummeted along with the rest of the market. But the biggest loss we've seen doesn't have to do with one of Tiger's sponsors. It's actually the main sponsor of his caddie Steve Williams.
In response to the current economic environment, the NFL confirmed today that it has reduced its staff by 15 percent.
I'm disappointed that Barack Obama has so far refused to accept my LinkedIn invitation. However, I'm happy to report that Dodgers Manager Joe Torre "friended" me on Facebook! Never met the man, but, like, how cool is that?
Fresh off his objection of Northern Trust's spending this past weekend, Rebecca Jarvis and I interviewed House Financial Services Chairman Barney Frank to talk about how companies that have taken bailout money should advertise.
Executives with Wachovia and Buick better start scaling back now because this much is now clear: If you or your parent company are receiving federal funds as part of the bailout, having big bashes and spending big money at sporting events is no longer acceptable.
Olympic swimmer Michael Phelps will make his first big public appearance today at a "Get Motivated!" seminar in Sacramento, but.....
The New York Yankees don't have names on the back of their jerseys, but that doesn't mean that the team can't use Phil Coke to advertise their official soft drink deal with the Coca Cola Company.
Dallas Mavericks owner Mark Cuban was celebrating last night as "Man on Wire" won an Oscar last night. Cuban's Magnolia Home Entertainment will release the documentary on DVD. But we're loving what Cuban has done on his blog.