All-Star Game back to Wrigley | Tom Brady back to Crypto

Get up to speed with latest news impacting the sports business landscape in Chicago and beyond. 🗞️ 

Upcoming Local Events:

June 11th: Sports Creative Community - Chicago Meetup

June 26th: Navigating the Future of NIL in College Sports

July 23rd:  CST Pitch Night - TechWeek Chicago

Wrigley Field close to landing 2027 All-Star Game Cubs fans can’t claim the new Pope as their own, but they’re one step closer to claiming baseball’s Midsummer Classic. Crain’s reports on how the Cubs are closing in on securing what would be their fourth time hosting the MLB All-Star Game, but their first since 1990. All-Star games can be lucrative for the host cities selected. Last year’s host, Arlington, Texas, generated approximately $86 million in overall spending during the festivities. Arlington is a decent city, but it offers nowhere near as much as Chicago, so the city could see two to three times that amount. Hosting, though, comes with its costs and provisions. Chicago was considered for this year’s game, but MLB Commissioner Rob Manfred wants the team to beef up its security at the tune of $30 million. Manfred wants anti-terrorism bollards (similar to those installed by NASCAR for the Chicago Street Race) to ensure a smooth weekend at Wrigley Field for visitors. Nothing has been finalized yet, but it appears the city, state, and Cubs are collaborating to bring the Midsummer Classic back to the game’s most iconic field.

WNBA suffers disaster as Indiana Fever-Chicago Sky ticket prices plummet proving Caitlin Clark as ‘star of the show’ If you caught Caitlin Clark’s flagrant foul on Angel Reese during their opening game of the WNBA season, you were probably hype to see the two meet again on June 7th for the rematch. That moment was by far the most exciting of a game that saw the Sky get demolished by over 30 points, but it still made WNBA ratings history as 2.7 million people tuned in. Unfortunately, we won’t get to see a hockey-style brawl in their rematch this week due to Caitlin Clark’s quad strain injury. It’s a well-publicized fact that the WNBA is riding the wave of momentum brought into the league by newcomers Reese and Clark, but the Clark effect eclipses anything anyone else can match. For example, ticket prices for the regular season finale last year between the Fever and Sky went for $165, making them the most expensive tickets in WNBA history. After Clark’s injury, ticket prices for the June 7th matchup are a fourth of what they were. It could prove to be a challenging obstacle as the game was moved to the United Center in anticipation of huge crowds. Fortunately, Clark is only out for two weeks, so it won’t be a full-blown disaster, unlike the Dallas Mavericks' refunding of season-ticket holders after trading Luka Doncic to the Lakers. More on the aftermath of the injury can be found here.

TGL Trademark Filings Hint At Two New Potential Teams - one in Chicago and the other in Texas Tomorrow’s Golf League wants Chicago as one of its next wave of teams today. TGL Holdings owns the league and filed patents to add a Chicago-based team and one somewhere in Texas. We can definitely give any city a run for its money with top-notch courses at the likes of Chicago Golf Club, Shoreacres, and Olympia Fields. TGL’s inaugural season featured six teams, and all matches were held at an arena in Palm Beach Gardens, FL. It caught on well with its fast-paced, tech-infused cousin to traditional golf. Driven by the star power of Tiger Woods and Rory McIlroy, TGL appears poised to continue attracting fans who enjoy watching golf but hate the all-day commitment required. If demand stays high, it could easily have close to 15 teams in a couple of years. Golf Monthly discusses who won the first season and what the Chicago-based club will be called.

WNBA star Angel Reese's modest $1.275 million Chicago house Angel Reese may not earn quite as much attention as rival Caitlin Clark, but she’s banked plenty of endorsement money to enjoy some of the finer things in life. Cartier Rings, Chanel sneakers, and now a decent home in Lemont. Modest is a good word to use, considering she bought a $3,500 Louis Vuitton carrying bag for her dog. Reese has been a millionaire since her college days at LSU, thanks to lucrative NIL deals with brands like Reebok and Beats By Dre. There would be no way she could afford a house in Derby Pines otherwise on her WNBA salary. WNBA players probably will never be paid anywhere near NBA players, but it’s good to see players like Reese able to do things like pay off her mom’s mortgage and buy herself a nice house with the money earned through her charisma and brand-building skills. Hopefully, the Sky get their season on the right track so she doesn’t spend a lot of depressed nights in the new home. Check out what it looks like and her dog in LV here.

Tom Brady Backs Another Crypto Play Should we be surprised Tom Brady isn’t a quitter? He only showed the country for 20 years in the NFL how much he hates losing. In case you forgot, Brady was one of several celebrities caught up in the FTX scandal, resulting in $8 billion worth of losses. He sat down, licked his wounds, and doubled down on his belief in the future of crypto. Brady and others are investing $18 million into Catena Labs’ AI-driven crypto marketplace. No question about the size of his cajones after losing a reported $30 million on the bad FTX deal. Brady hasn’t shied away from investing before this move. He founded a company in 2022 that specialized in NFTs (non-fungible tokens), but has since diversified its focus. If only he can will this new venture to success like he did with the Patriots in that Super Bowl against the Atlanta Falcons, it would be impossible to fail. Front Office Sports delves into Brady’s new investment and who else was affected by the FTX scandal.

NFL owners vote to permit players to participate in 2028 Summer Olympics flag football Patriotism > parsimony. It was a bit of a surprise to hear the resounding vote count when considering the downsides. Injury concerns and potential disruptions of training camp and the preseason stand out as top reasons NFL owners would vote against allowing players to play in the Summer Olympics. But owners voted overwhelmingly in the other direction. The 2028 LA Olympics will bring flag football to the sports world’s biggest stage; there’s no question that the opportunity to spread football to every continent was the overarching reason NFL owners voted the way they did. The next big question is who will represent the U.S. from each NFL team? Teams are sure to be highly selective about who they give the go-ahead to. There's no chance Patrick Mahomes or Jalen Hurts will be in LA in 2028, other than in a nice suite watching. See the commanding vote count and which big-name player has expressed interest in playing.

WNBA’s Liberty set world record for women’s sports team with new $450M valuation One year after winning the WNBA title, the New York Liberty just grabbed a second and arguably, more valuable one. Their new valuation is more than double what it stood at this point last year. It’s also double the value of the last WNBA franchise sold and over $100 million more than Chelsea’s women’s soccer team based in London. Co-owner Clara Wu Tsai publicly set a goal of hitting a $1 billion valuation in 10 years. They could hit that in a couple of years, especially if they keep winning titles. Investors continue to flock to women’s teams as the hottest sports assets to invest in. If the wave sustains over the next several years, we could see multiple billion-dollar valued women’s sports teams. The New York Post reveals the worth of the closest teams to the Liberty.

Fanatics Launches Athletes vs. Celebs vs. Fans Event With $1M Prize Forget about the million-dollar prize for a second. Imagine the clout you’d have with your friends if you beat Kevin Durant in a shooting contest or Tom Brady in a throwing accuracy game? Fanatics isn’t the first company to try this ‘fans vs athletes/celebs’ format, but it’s upping the ante from other iterations. Held over three days at Fanatics Fest - the ultimate sports collectible nerd festival - eligible fans will get a chance to compete against their favorite athletes and celebs for a chance to win prizes like a $1 million or a Ferrari, among other prizes. Fanatics has been on a meteoric rise in valuation since Michael Rubin acquired the company in 2011. It’s now worth between $25 billion and $31 billion, over 15 times what it was when Rubin took over. A major part of its success has been in creating a digital and sports collectibles behemoth that’s a one-stop shop for fans. Now, as it ventures into live events with its second edition of the Fanatics Fest, it’s using its powerful influence among celebrities and athletes to expand its presence even further. Here’s a rundown of who is signed up so far and Fanatics’ revenue history.