In this week’s SportsMoney Playbook: sports teams cutting ties with Russian sponsors, an 11-year-old with a sponsorship deal and the Grizzlies' Tax Court ruling. Plus: A cricket owner reclaims his throne as Asia's richest person.
Soccer
In the wake of Vladimir Putin's invasion of Ukraine, countries around the world are banding together to sanction some of Russia's wealthiest individuals. Roman Abramovich could be next, and is now planning to sell Chelsea FC. (His superyachts could be a target.) Meanwhile, the Everton women's team has parted ways with its principal commercial partner, one among many sports teams cutting ties with Russian sponsors. But while FIFA and UEFA have generally suspended Russian teams from international competition, it appears no decision has been made for this summer's Women's Euro tournament.
The U.S. women's national team's equal-pay settlement could be a landmark moment for gender equity in sports as long as the players can agree to a new CBA with U.S. Soccer. In the meantime, the NWSL is getting ready to kick off its season, and the Kansas City Current have already flashed worst-to-first potential.
Pro Basketball
The U.S. Tax Court ruled that the Grizzlies' previous owner can't claim a tax deduction for deferred compensation that was owed to two players—but neither can the team's current owner.
Auto Racing
Nascar Cup Series rookie Austin Cindric still cannot believe he is a Daytona 500 champion, but it's becoming clear that he is the future of Team Penske.
Golf
Even after the pandemic-driven golf boom of 2020, golf operators saw play increase by almost 6% nationwide last year, with more rounds played at U.S. courses than ever before. Among the companies capitalizing is Uplift Labs, which helped develop an unobtrusive motion-capture system to refine players' swings.
At 11, Xeve Perez might be the youngest golfer ever to team up with a major golf brand.
College Sports
One major new sponsor of college athletes is revealing the numbers around its NIL program's branded social media posts, and they are encouraging. H&R Block is the latest company to dive in, signing deals with basketball stars Caitlin Clark and Zia Cooke.
Cricket
The T20 World Cup is headed to the U.S. earlier than initially expected, adding to the pressure to build or re-purpose stadiums. Seattle presents an interesting option.
Featured Story
Cricket Owner Mukesh Ambani Becomes Asia's Richest Person Again Amid Putin's War
Red-hot oil prices and a deal between two of India's biggest retail players helped push up Mukesh Ambani's fortune by $2.8 billion, making him Asia's richest person once again. The Mumbai Indians owner reclaimed the crown after losing it to his countryman Gautam Adani last month. Ambani still trails Steve Ballmer by about $5 billion for the title of the world's richest sports team owner. Read more on Ambani's fluctuating fortune.
Hot Reads:
- Russian And Belarusian Athletes Will Compete As Neutrals At Beijing Winter Paralympics
- Russian And Belarusian Tennis Players Can Still Compete—But Not Under Their Flags
Upon Further Review
Derek Jeter is stepping down from his post as the Marlins' CEO and selling his stake, just five years after the Yankees legend was part of an investor group that bought the team and promised to have Miami earning nearly $50 million in profit by 2021. Jeter came up short, and the Marlins remain the least valuable team in baseball, at $990 million by Forbes' count last year. See the full ranking of MLB's most valuable teams.
The Last Word
“We’re showing now that HBCUs are an option.” - Deion Sanders
Deion Sanders' impact as Jackson State's football coach goes beyond the program's first SWAC championship since 2007. The Tigers' success has spurred an economic boom, a jump in game attendance, a recruiting frenzy and more media attention than ever. And it's just a taste of what Sanders sees for HBCUs. Learn more about how Sanders is changing the college football landscape.
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