The Supreme Court on Wednesday agreed to hear the NCAA's appeal of lower court rulings that found the association violated antitrust laws by placing limits on education-related compensation for athletes.
Why it matters: The rulings expanded the range of education-related benefits student-athletes could receive. The NCAA claims this "effectively created a pay-for-play system for all student-athletes, allowing them to be paid both 'unlimited' amounts for participating in 'internships'" and an additional $5,600 or more per year of eligibility.
Giannis Antetokounmpo has signed a five-year, $228.2 million extension to continue playing for the Milwaukee Bucks — the largest contract in NBA history by both total and average annual value.
Why it matters: Teams have been positioning themselves for a run at Antetokounmpo for months amid rumblings that the Greek superstar, a year from free agency, might test the market next summer.
Long Beach, California has created a $5 million fund in order to dole out thousands of dollars in grants to gyms and other personal care businesses that are struggling during the coronavirus pandemic, Mayor Robert Garcia said at an Axios virtual event on Tuesday.
Why it matters: "It's critical that we support them. We don't want to lose this critical piece of our economy," Garcia said, adding that many gyms in the area are small businesses that have "been hardly hit by this pandemic."
Gyms that follow coronavirus mitigation strategies — like enforcing masks, social distancing, and prompt cleaning — should stay open when possible under local guidelines, Former Surgeon General Richard Carmona said at a virtual Axios event on Tuesday.
Where it stands: Several states have shuttered gyms as coronavirus cases rise, or introduced limitations on how many customers can be inside the facility at once, per a New York Times tracker.
Blue Wire, a sports podcast company, has raised $5 million in its series A round, founder Kevin Jones tell Axios.
Why it matters: The company, which focuses on long-form sports narrative podcasts and conversational podcasts, now hosts more than 140 podcasts with over 20 million downloads for the year. It has $1.5 million in 2020 revenue via sponsorship partnerships via brands like Chevy and Visa.
