Sam Hinkie, best known to NBA fans for helping the Philadelphia 76ers tank their way back into contention, has raised $50 million for a Silicon Valley venture capital firm called Eighty-Seven Capital. He tells Axios to expect seed and early-stage investments, but not with a sports focus.
Background: Hinkie began his career in venture capital and private equity before joining the Houston Rockets front office in 2005. He then spent three years as president and general manager of the 76ers, during which time the team was awful but made key draft picks like Joel Embiid.
The NFL and Amazon said Wednesday that they have renewed their streaming partnership for Thursday Night Football games and added the exclusive TV rights to an additional Saturday game late in the season.
Why it matters: The deal shows Amazon's commitment to accessing live sports rights as it continues to build out its media business. It also shows the NFL's push to make sure its games are watched by as many people as possible — particularly younger audiences that are migrating away from live sports on traditional TV.
The NCAA's Board of Governors announced Wednesday that it supports rule changes that would allow student-athletes to receive compensation for their names, images and likenesses.
Yes, but: Don't expect a free market for student-athletes just yet. While the NCAA cleared the way to support third-party endorsements and other money-making opportunities, like social-media influencing and personal appearances, its announcement still leaves a number of questions moving forward.
Rachel Jacobson, former NBA senior VP of global partnerships, has been named the Drone Racing League's new president — a statement hire for a league with visions of a more mainstream future.
How it works: DRL is like a video game brought to life. Pilots move quickly through elaborate courses inside stadiums or at outdoor locations, zooming through LED hoops and hurdles.
The battle for the future of women's hockey is between one side (NWHL) that wants to stand on its own and another side (PWHPA) that wants to be affiliated with the NHL — similar to how the WNBA is affiliated with the NBA.
Yes, but: The "WNBA model" has evolved and is no longer what it used to be, so mentioning it as an example of the latter model's success is somewhat misleading.
Daishen Nix, the 15th-ranked player in the 2020 class, has joined fellow five-stars Jalen Green (No. 3) and Isaiah Todd (No. 11) in opting to forego college in favor of the NBA G League's new professional pathway program.
Why it matters: This signals the NBA's intention to more forcefully take the reins on developing its own future talent, while shining a spotlight on the rapidly maturing G League.
Private equity has long dabbled around the edges of professional sports, but now has its first firm dedicated to buying into teams.
Driving the news: Arctos Sports Partners has been launched by David "Doc" O'Connor, former president of Madison Square Garden Co., and Ian Charles, a longtime private equity secondaries investor.
Major League Baseballsees midsummer as the likely best case for opening the season, probably with no fans in the stands, sources tell me.
The state of play: In the hope that opening over the Fourth of July holiday weekend might be feasible, some executives are considering the tagline: "America's game is back on America's birthday."
Women's hockey takes the world by storm every four years at the Winter Olympics — and then basically falls off the radar — but the outcome of an ongoing feud between two leagues could change that, especially if the NHL gets more involved.
Driving the news: The National Women's Hockey League (NWHL) is expanding to Toronto, as the Professional Women's Hockey Players Association (PWHPA) continues its boycott of the current situation while hoping that a new league and support structure emerges.
With the future of the 2020 baseball season still unknown, ESPN is relying on reruns of classic games, including a May 12 telecast focused on Derek Jeter, executives tell Axios.
Why it matters: ESPN sees value in re-airing classics, especially with mega-stars. Without live sports, it's the closest thing the network can offer to baseball fans, who tend to be older and less likely to tune into alternatives like eSports.
On Saturday evening in South Dakota, IMCA Racing treated us to Open Wheel Nationals — a real, live sporting event and a sight for sore eyes.
Why it matters: With sports mostly on pause since mid-March, this small, dirt track event in North Sioux City offered a potential blueprint for successfully restarting sporting events across the country.
