Blackstone's David Blitzer weighed in on the team he co-owns and other investing topics at a conference Friday.» Read More
Over the past couple years, Major League Baseball has called attention to its extensive revenue sharing plan that distributes the wealth from the game’s most well-heeled to those less fortunate.
For years, we've been talking about the importance of American sports brands, including shoe companies like Nike, getting into China. We haven't talked as much about Chinese shoe companies getting into this country. That's about to change.
As expected, getting into the shoe business hasn’t been the easiest for Under Armour. They quickly took significant market share in the first year in football and baseball cleats, but decided to slow down their move into the category after investing heavily in the training and running shoe markets and not making as much noise.
Chicago Bulls guard Derrick Rose is known to eat a lot of candy. So when the folks at Wrigley found out that he likes to down their Skittles brand, they decided to do something a little special for the hometown boy.
Almost a month ago, I wrote about the story of SpongeTech, the “smarter sponge” that spent all its money on sports sponsorships. The creditors in the bankruptcy proceedings have finally come forward with how much money they have owed and the carnage, as expected, is in the millions. Below is the list, in order of how much they are owed.
Sports teams for sale in the top ten media markets are going to have a robust number of prospective buyers. Take the sale of the Texas Rangers, which was approved today by Major league Baseball, after a contentious bankruptcy case.
This morning, in advance of the World Basketball Festival, a four-day event in New York City centered around Team USA and hugely invested in by Nike, I had a chance to speak to Nike president Charlie Denson. Denson talked, for the first time, about his reaction to LeBron's "Decision" and also about when the brand could possibly go back to using Tiger again.
If not for Nike's signing of Michael Jordan in 1984, George Foreman's deal with Salton to put his name on what would become its Lean, Mean, Fat-Reducing Grilling Machines would undoubtedly be considered the best endorsement deal in sports marketing history.
Shaquille O’Neal has had his share of endorsements over the years — his longest standing deal is his seven-year tenure as the main spokesman for Icy Hot. But Shaq, at his introduction as a new member of the Boston Celtics on Tuesday, continued to mention Kellogg’s Frosted Flakes, a brand that he’s never gotten any money from.
Anyone who has seen LeBron James’ signature knows that he begins his signature with an “L” and “B” that look like his uniform number “23.” But with his number changing to “6,” James has now changed his John Hancock to a more traditional beginning — adding the number at the end of his name.
New York Knicks forward Amar’e Stoudemire garnered a lot of attention in recent weeks for his trip to Israel and the comments that he’d be practicing Judaism, including eating kosher and observing the Jewish holidays.
In today’s sports-crazed world, athletes like Lebron James and Tony Hawk have quickly become household names. But it’s not just their sport that’s making them famous.
On Friday, the Miami Heat fired its season ticket staff of about 30 people. The team’s reasoning was simple –- tickets were so hot, they sold out. They didn’t need a staff to sell anything.
LeBron James’ image might have taken a hit this offseason, but the folks at Upper Deck don’t think that collectors will stay away. Upper Deck spokesman Terry Melia told CNBC that James signed photos and basketballs at his “King’s Academy Basketball Camp” in San Diego on Saturday.
This weekend, Andre Dawson, umpire Doug Harvey and manager Whitey Herzog will be inducted into the Baseball Hall of Fame in Cooperstown. Not exactly a group that will draw a crowd. And that's Cooperstown's problem.
The surprises keep coming from the folks at 2KSports, who shocked the video gaming world in last month when it revealed that the cover of its new NBA basketball game would have Michael Jordan on it.
In the midst of the economic crisis, sports teams were in need of sponsorship dollars. So they jumped at a company that was willing to bail almost all of them out. The deals came at a recessionary discount, in some cases with a generous payment plan and, perhaps most importantly, with very few questions asked about the company. The story isn’t completely over yet, but in the annals of sports marketing, it’s pretty apparent that the SpongeTech story will go down as one of the industry’s most cautionary tales.
Will parents in Cleveland approve of their children sleeping on LeBron James? That question will be answered in the coming months, as American Signature, the company that signed the former Cleveland Cavaliers star in February, has confirmed to CNBC that it will continue with its plans to launch a collection of items inspired by James.
Joe Lacob, managing partner at private equity firm Kleiner Perkins, and Peter Guber, chairman of Mandalay Entertainment, have won the bid for the NBA's Golden State Warriors, a source close to the sale has told CNBC.
It seemed like an interesting idea: Have the biggest of free agents in LeBron James announce the decision on where he’ll next sign on national television. But there was something in the way it went down that didn’t work out for James. Is it possible that James, who had built a marketing empire over seven years, took a hit with the public way of announcing that he was going to the Miami Heat?