Thousands of racegoers are flocking to Australia's major thoroughbred horse race. The Asia Squawk Box team discusses how much money is at stake.» Read More
It has been in the works for months and in my mind for years. Today I can finally proudly announce that my new show "CNBC SportsBiz: Game On" is a reality. The show will air every Friday night at 7pm ET on Versus beginning next week, Sept. 9.
It was quite a long shot when Michael Vick filed for bankruptcy in July 2008, but given the new six-year, $100 million contract the Eagles quarterback signed, the creditors are likely going to get back the $20.3 million Vick owes them.
When the NFL lockout was over, all parties were declared winners — the owners would lose just one preseason game, the players would get to play and the fans would get to see them. In the speed of the final negotiations, it wasn't yet clear. Now it is. The players didn't get much. Let's break it down as simply as we can.
The latest and greatest performance enhancer, if you've been living under a rock, is deer antler velvet. On the surface, it seems like it could make sense. The coating on the antlers of young male deer that contribute to the growth of that part of their body could help athletes. First, the NFL prohibited Oakland Raiders coach Hue Jackson from endorsing it. Now, according to SI.com, Major League Baseball is warning players about using it.
A class action lawsuit filed by former college athletes against the NCAA and Electronic Arts could take a huge bite out of the video game maker's revenues, should the athletes win the case.
When the the folks at Madison Square Garden were dreaming up new features for their big renovation, giving fans the option of seeing Knicks and Rangers players leaving the locker room to go onto the court and the ice was a must-have.
Age is just a number. Unfortunately, this axiom doesn’t always apply when it comes to professional sports. Who are the 10 most notable athletes still active after the age of 40?
Earlier today (Monday), Tiger's agent Mark Steinberg, former head of IMG Golf, announced that he would be joining Excel Sports Management. Here's our conversation.
The world’s biggest gambling nations include plenty of unlikely candidates. Read on to find out the countries with the biggest losers and the boldest gamblers.
Michael Vick got to write his comeback story on the field, now he has seen his image come full circle off of it. In a remarkable move, CNBC has learned that Nike, which severed Vick’s contract in 2007 after he admitted to his involvement in a dogfighting ring, has re-signed the Philadelphia Eagles quarterback. (Updated)
For the last five years, Peter Beveridge has been innovating in the eye-black space. Looking to grow even more, having sold more than five million pairs of eye black last year, Beveridge has signed its first female spokesperson, Bethanie Mattek-Sands.
I'm shocked. I knew that there would someone who would agree to pay $200 million for a minority share of the New York Mets. I just didn't think it would David Einhorn of all people. If you don't know of Einhorn, he's not exactly a "sit back and watch" kind of guy.
The world of sports gambling tout services is rife with problems. Bettors pay for advice on how to place a wager and then find out the tout service is telling another bettor to take the opposite side. By doing it that way, you’ll at least have half of your customers happy. Adam Meyer knows of the reputation of his business and he has what he thinks is his greatest marketing ploy.
Kevin Durant fans seemed to be up in arms with me on Twitter when I said that I thought the Oklahoma City Thunder forward needed a bit more personality to be more marketable. Durant does have deals with Nike, Gatorade, Panini, EA Sports, Skullcandy headphones and Degree Men, but I thought the small market and a reserved demeanor didn't exactly make him stand out besides his amazing on the court performance, that is.
If Animal Kingdom goes on to win the Triple Crown, his stud value could hit $50 to $60 million. But, aside from reproduction, there are other ways the horse could pay dividends: Tourism.
Every once in a while, a story comes full circle years later. In 2009, I went to the Fasig-Tipton sale to do a story on depressed horse sale prices, due to the economy. When we were doing one of our segments, we asked for a horse to stand in the background. Today, I received this note from Mark J. Reid Jr.
Marc Haisfield was at a friend’s house in Florida watching the Kentucky Derby when he saw Animal Kingdom emerge at the quarter pole. “There’s no question he’s winning this thing,” his friend said to him. Seconds later, the horse was the winner of the 137th running of the Kentucky Derby. Haisfield doesn’t own Animal Kingdom, but he does have a tremendous stake in the horse’s success.
Talking about the business of horse racing, with Bob Evans, Churchhill Downs CEO and CNBC's Darren Rovell.
Although it's still a rich person's game, return on investment — the average horse in the race cost $175,000 — striking it rich if your horse does well is easier.
The business of horse racing has begun to attract interest from investors because the return is potentially very high, Terry Finley, founder and president of West Point Thoroughbreds, told CNBC Wednesday.