💸 Y! Sports Biz: Restock needed
Sports teams are flying off shelves at record pace.
The latest sports business news reveals a heightened frequency of team sales, with 23 control sales occurring in the past five years. Many of these sales were facilitated by a transformative national media rights deal and an accessible valuation environment, particularly in the NBA where billionaire investors are thronging to own franchises.
The Lakers' $12.5 billion sale set a precedent, and other major teams like the Mavericks, Bucks, and Hornets recently joined the sale list. Meanwhile, in golf, Good Good Golf's promotional video with Callaway faced backlash and was deleted after a short period, leading to an apology from both parties. The incident highlights the importance of maintaining a positive brand image in the competitive world of sports.
Written by urgent.news from Yahoo Sports's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
