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

Chicago

The Bears' coaching carousel continues. Lucky number 10 on the way? ‘Tis the season of disarray. For the Bears, the search for another head coach (the sixth since Lovie Smith and the tenth coach overall since 2022) has become routine. A still unproven, young GM in Ryan Poles is leading the search. He’s the key in maybe the most important coaching search for the Bears in years. That is, if the Bears want to avoid their mediocrity becoming a holiday tradition like forced interactions with the in-laws. The Tribune dives into a full examination of the big task Ryan Poles faces below.

CHGO Sports lays off five broadcasters, says covering the Sox is hard to sell The Sox reached historical levels of awful last season and now it’s affecting those who cover them. CHGO Sports laid off five of its media personalities to better align their resources with their audience and advertiser interests. Baseball and hockey coverage were the most impacted so the Hawks can share some of the blame for the layoffs. It’s never a good sign for a team when a sports media outlet dedicated to sharing news with die-hard fans says, “...sometimes you feel like you care more about the White Sox than the White Sox care about the White Sox”. ALLCITY CEO Brandon Spano says it’s the first time the company has had a round of layoffs in its short five-year history, even if it’s right before Christmas. Despite the cuts, Spano remains optimistic about the future. Read what else he says about it to the Sun-Times. 

5 reasons to be bullish on Chicago's startup ecosystem Cities like Austin, Dallas, and Atlanta get too much hype as ideal locations for business. Outside of Silicon Valley, Chicago is building momentum as one of the best cities for startups. We’re second among cities nationwide in raising two rounds of funding for early-stage companies since 2022. More corporate relocations happen here than anywhere else in the country. Riding the wave that startups have found beneficial to their success is more important than claiming an imaginary title from Silicon Valley. Landon Campbell gives his five reasons to be bullish on Chicago’s startup ecosystem going into next year. 

White Sox stadium is now Rate Field, fans say it should be Second Rate Field to match the team In a move that excited no one, the White Sox have decided to change the name of their ballpark…again. The stadium that some still call its original name, Comiskey Park, will now be known as Rate Field. Guaranteed Rate, the mortgage company based out of North Center, is spearheading the change to “make it easier for customers to contact us”. Neither Jerry Reinsdorf nor Guaranteed Rate could predict the amount of backlash the announcement would get. I guess they expected a red carpet rolled out after a 121-loss season and another fired manager too. The social media age spawns great takes from disgruntled or trolling fans whenever they let their voices be heard. ‘Second Rate Field’ might be among the best responses I’ve heard from a fan base. They deserve some of the $25 million Reinsdorf gets from the naming rights agreement since the name change won’t improve the play on the field. See the full announcement and responses here. 

National

Louisiana AG uses funds from an anti-vaping settlement to fund NIL deals for LSU, other schools Louisiana Attorney General Liz Murrill vows to pioneer a new wrinkle in the NIL era: publicly-funded NIL deals. Through a lawsuit ran against electronic cigarette manufacturer Juul, Murrill is pledging to spend $281,000 over three years for NIL deals among Louisiana colleges. Her alma mater, LSU, stands to benefit the most by receiving $225,000 of the fund. Even though it hasn’t happened yet since NIL became rampant, it’s becoming more surprising we haven’t heard of a state trying this strategy out until now. But some fear it could open a can of worms. Front Office Sports explores how this could be problematic.

Software Startup, Lucra, draws $10 million in funding led by Giannis Lucra, a software startup, is capitalizing on America’s love of betting. We love to bet on anything from which Chicago franchise will be first to re-ignite their fan bases again to who could win a game of H.O.R.S.E. The company leads the nascent field of social gamification technology that allows friendly bets among friends. It has evolved into also offering customizable software solutions for businesses to enhance their loyalty programs. The startup has raised $10 million so far, attracting big names like two-time NBA MVP Giannis Antetokounmpo and Atlanta Falcons owner Arthur Blank. See what else Lucra has in the works. 

Paige Bueckers is the first NIL athlete with a Nike Player Edition Shoe Brands like Nike are changing their marketing strategy in the NIL era. They are looking for buzzing stars with influence on social media still in college. Paige Bueckers became Nike’s first NIL athlete to get a Player Edition shoe. Launched on December 7th, the shoe features unique signatures like a shoutout to her hometown in Minnesota and a motivational message from her dad. A monumental moment on both sides, even if Reggie Bush has a side-eye look after hearing the news. Find out more about the historic launch.

The Original NIL King scores Biden commute Speaking of NIL, the man who was a trailblazer in paying college players in the 2000s has gotten his sentence commuted. President Joe Biden shortened the sentence of Nevin Shapiro, a Ponzi scheme orchestrator. Shapiro swindled investors out of $930 million and received 20 years in prison for it in 2011. If you ask players at the University of Miami, Shapiro was their Robin Hood. He gave football and basketball players gifts ranging from cash to sex workers. Now that’s a useful NIL collective. Shapiro had been on house arrest since 2020 due to COVID protocols. Full details on Biden’s Christmas gift to Shapiro here.