Latest news with #WassermanMediaGroup
Yahoo
9 hours ago
- Business
- Yahoo
Mountain West Reached Revenue High Ahead of Pac-12 Showdown
The Mountain West Conference came close to cracking nine-figure revenue in fiscal year 2024, pulling in a record-setting $92.8 million—up from $78.2 million the year prior—just as it entered a high-stakes, increasingly adversarial engagement with the Pac-12. According to the conference's latest tax filings obtained by Sportico, commissioner Gloria Nevarez earned $1.02 million in base compensation during her first year on the job. Nevarez, who took over in January 2023 from long-serving predecessor Craig Thompson, has since presided over a volatile period for the league. Advertisement More from Total expenditures for the year hit $96.2 million, resulting in a year-over-year decline in net assets. A Mountain West spokesperson attributed much of the shortfall to an atypical distribution to San Diego State, which received both its FY23 and FY24 payments—totaling $12.9 million—within the same fiscal period. Most other member institutions received over $6 million, with Boise State ($8.7 million) and Hawaii ($2.1 million) serving as financial outliers. The league's legal expenses for the fiscal year totaled $756,741—costs incurred before it began litigating with the Pac-12. Among the conference's highest-paid independent contractors in FY24 were Wasserman Media Group ($1.08 million for media rights consulting), law firm Wilkie Farr & Gallagher ($748,516) and Huron Consulting ($346,105). The past fiscal cycle closed just before Washington State and Oregon State commenced a temporary football scheduling agreement with Mountain West schools for the 2024–25 season—a move that sparked further conflict when five MWC programs, including Boise State and San Diego State, later announced plans to join the Pac-12. In response, the Mountain West invoked its so-called 'poaching penalties,' a clause in the scheduling pact that imposed $10 million damages on the Pac-12 for bringing aboard a MWC school, with escalating charges for each additional member. Advertisement This led to a federal antitrust lawsuit filed by the Pac-12 last September, alleging the penalties violated antitrust laws and that the conference had been unfairly preyed upon in its 'weakened state.' The two sides are now in mediation over a financial dispute that, on paper, could total as much as $145 million in obligations from the Pac-12 to the MWC. Amid last year's upheaval, the Mountain West awarded full membership to both Hawaii and UTEP, added Northern Illinois as a football-only member starting in 2026, and welcomed UC Davis as a full, non-football member for the 2026–27 academic year. The newly configured conference also retained Air Force, UNLV, New Mexico, Nevada, San Jose State and Wyoming, each of which committed to remain last year. Best of Sign up for Sportico's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
The Independent
06-04-2025
- Entertainment
- The Independent
MASTERS '25: Jason Day wanted his own look and got a Masters memory with Malbon
Jason Day was looking for a new identity with his clothing, having spent his entire career with two of the most famous apparel brands in sport. He wanted something that would make him stand out on the golf course and feel fashionable off it. He got every bit of that with Malbon Golf last year at the Masters. Day chose a sweater vest, white with large letters stretching across the front that spelled out 'No. 313. Malbon Golf Championship.' He recalls wearing a rain suit Friday morning on the 14th tee as he resumed the rain-delayed first round alongside Tiger Woods and Max Homa. 'Max and Tiger said, 'That's kind of boring,'' Day said. He already had been turning heads with his Malbon Golf attire the past four months, most of it baggy, a throwback look in golf. 'I said, 'Wait until you see what I have on underneath.' I take my jacket off, and they didn't know what to say. As I was playing, it got crazier and crazier on social media.' Maybe a little too crazy for Augusta National. The club determined the logo was a bit over the top and asked that he not wear it that afternoon. His agent, Bud Martin at Wasserman Media Group, got word — by then it was the talk of the Masters and points beyond — on his way to the course and dreaded the idea of having this conversation in the 30 minutes before Day teed off for his second round. 'I was getting ready to make this speech and he said it was too hot and he wasn't going to wear it anyway,' Martin said. And then there was Stephen Malbon, who founded the company with his wife, Erica, after a creative art career in subcultures from surfing to snowboards, fashion, graffiti and hip-hop. Behind a passion for design and a newfound addiction to golf, Malbon's brand already was making traction in the golf world. It exploded that day. Malbon likes to say that 'everyone knows who we are, for better or worse.' This was a little of both. 'It had like 3 billion impressions those two days on the internet,' Malbon said. "Tiger made the cut. You had Bryson (DeChambeau) and the Jesus photo when he picked up the sign and put it on his shoulder. Some other player told one of the patrons to (expletive) off. And the only thing they were talking about was Jason and his sweater.' That was the better part of it. The worse was something Malbon is determined to change through his streetwear design. 'Golf is intimidating,' he said. "There was a lot of young people who probably looked at Jason that day and said: 'Wow, golf might be for me. He looks cool.' And then he gets mocked and ridiculed and teased by all the commentators and then they're like: 'Nah, I'm not going out there. If they're mean to him, they can be mean to me.' 'The Master is the Super Bowl of golf," he said. "That was a great opportunity to show golf can be different.' That was Malbon's objective when he launched the brand in 2017 from a studio in Los Angeles. The idea was to make golf more appealing to a younger, style-conscious generation. Day, a 37-year-old Australian who once rose to No. 1 in the world, turned out to be a good fit. Martin had met Malbon a few years earlier and struck up a relationship. Day's deal with Nike was up (he was with Adidas at the start of his career) and he was looking for options. For starters, he didn't like showing up at a tournament worried that he would be wearing the same scripted clothes as another Nike golfer. 'That's kind of how it happened,' Day said. 'I was going to do my own custom clothes and Bud came to me and said, 'What about this brand Malbon?' They could do anything for you, any fabric you want, any style you want, any way you want.' He realizes some of the apparel can look 'wacky.' Day doesn't care as long as he likes it. He also doesn't mind the abuse when a design is rarely seen in golf. Such was the case on a cold day at the AT&T Pebble Beach Pro-Am this year. Day wore what looked like an old-school, gray sweatsuit. It's called 'Lost Luggage' sweatpants. They looked like pajamas. Not everyone was crazy about them. 'I remember somebody sent me a text or a tweet that 'JDay has come out of bed and gone to the golf course,'' Day said with a laugh. "It doesn't take much to look different. When you look on the range, everything is performance-based, athletic. That's great, no problem. 'But the next generation are kids picking up golf for the first time,' he said. 'And fashion is a big part of their world.' Malbon Golf since has added Charley Hull, the LPGA star known for her devil-may-care approach to life and golf, the player known last year for having a cigarette dangling from her lips as she signed autographs at the U.S. Women's Open. Hull is huge on fitness and fashion. Other additions are Minjee Lee with a more classic style, and Nataliya Guseva of Russia. And now it's back to the Masters, where Day and Malbon have submitted — and had approved — their lineup of clothing for the week. There appears to have been some negotiating. 'After the first two runs, we were on the same page,' Martin said. Day wanted his own clothes and Malbon Golf needed a golfer to pitch them. Day has an equity stake in Malbon and is involved in some of the design work, where he wants to be edgy without crossing what can be a fine line. That was Malbon's objective all along with Day. 'He believes in us and he believed in us early,' Malbon said. 'Kudos to Bud for taking it to him. He could have easily not. But it means a ton to us. We went from maybe 5% or 10% of the golf world who knew who we are to everyone knowing who we are.' And then he paused before adding with a laugh, 'For better or for worse.' ___
