Bloomberg Business of Sports: New Most Valuable Team
Join hosts Michael Barr, Damian Sassower and guest host Vanessa Perdomo for a look at some of the latest headlines and stories in the business of sports. Bloomberg News global business of sports reporter Randall Williams details the sale of the reigning NBA champion Boston Celtics to a consortium led by Bill Chisholm, co-founder of California-based private equity firm STG Partners. The $6.1 billion purchase is not only the biggest NBA deal ever, but also the largest ever sports takeover. Then, Bloomberg News global business of sports reporter Ira Boudway discusses his story on the flawed plan to gain control of college athletes' pay. The NCAA is expected to approve a settlement that would pay $2.8 billion in damages to former athletes and establish a framework for schools to compensate current players, and establish a clearinghouse for player sponsorship deals. However, the implementation of the clearinghouse faces potential issues including athletes not disclosing their deals, boosters and collectives trying to funnel NIL money through non-associated entities, and legal challenges to the clearinghouse's authority. Plus, as March Madness gets into full swing, BetMGM CEO Adam Greenblatt examines the growing sports betting landscape in the United States and the significant spike in business generated by the NCAA basketball tournament. The popular mobile betting platform is offering new ways to wager on both the men's and women's tournaments as it seeks to build on recent gains in a crowded market.
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