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🤑 Illinois lawmakers urge Chicago to drop online sports betting tax plan All Mayor Johnson wants for Christmas is a balanced budget for 2026. With City Council rejecting his proposal for a corporate head tax, the mayor hopes a citywide online sports betting tax will cover some of the budget gap. State lawmakers are pushing back on the proposal for a few reasons. First, Illinois has already hiked online sports betting rates twice in two years, which we previously covered. Online betting companies passed the cost on to bettors, making online sports betting more expensive for Illinois bettors. Second, lawmakers fear bettors will seek alternative ways to bet that are less secure and possibly more predatory. And third, lawmakers oppose Mayor Johnson’s approach to legislation. For the estimated hundreds of thousands of Chicagoans who engage in online sports betting, another tax to place bets would be just the lump of coal nobody wants for Christmas. Yogonet reports on what else lawmakers have to say about the proposed tax plan.

🏀 Sky star Kamilla Cardoso joins Project B Until WNBA players earn significantly higher wages through a new CBA (collective bargaining agreement), most players must supplement their wages in the WNBA offseason by playing overseas. Cardoso has played in China for two seasons, earning modest wages while playing on the other side of the world. Unlike her Sky teammate Angel Reese, who became a millionaire in college through savvy business moves powered by NIL, Cardoso was unable to earn NIL money while in school. NCAA rules prevent international players from signing NIL deals (Cardoso is a native of Brazil). Project B’s proposed Formula One-style competition with multi-million dollar salaries would be a huge increase for the budding star. The league is set to hold seven two-week tournaments across Europe, Asia, and the Americas and has already recruited some of the biggest names in the WNBA. It’s a new age for women’s sports. Better options and funding are trickling in more than most would’ve ever imagined just a few years ago. If Project B does happen, player salaries would dwarf anything women earn in team sports anywhere else by a long shot. The Sun Times gives insight into Cardoso’s performance last season with the Sky and how the league will operate.

🏦 CNBC’s Official NHL Team Valuations 2025: Hawks rank 7th The NHL has never been in a better place financially. Last season, revenue increased by 9% as attendance and TV viewership drove higher revenue for all 32 teams. Locally, despite a dismal 2024-2025 season, the Hawks are valued in the top 10. Their value rose 6% compared to 2024 to just under $3 billion. And that is even with recording just one sellout last season, along with a debilitating dispute with Comcast that left many fans unable to watch from home. A positive start to the season for the Hawks, coupled with new national media rights deals, should only drive their valuation higher. They still have a ways to go to top the league’s most valuable team, the Toronto Maple Leafs, who are the Dallas Cowboys of the NHL (in all the good and bad ways). Considering they’ve been stuck in rebuild mode for years, anything is possible. Find out exactly how much the Hawks are worth here.

🐻 Chicago Bears hire Matt O'Brien as Senior Vice President of Global Commercial Revenue. As the new-look Bears continue to turn heads around the league, the front office has decided to follow suit with a new hire. O’Brien takes on a newly created role, tasked with growing the Bears’ brand internationally. Originally a native of Aurora, O’Brien’s appointment is a homecoming for him after spending the last five years in Cleveland with the Cavaliers organization. His experience in developing valuable commercial partnerships in Cleveland, Australia, and with the University of Notre Dame over the past 30 years will help spread the Bears’ influence more widely in the increasingly international NFL. The move could also be seen as the Bears preparing for an eventual exit from Soldier Field. A new Bears stadium would certainly feature premium suites and state-of-the-art technology, enticing potential corporate sponsors. The Bears are relevant again among the NFL's upper echelon. Winning creates more exposure, helping them expand their international presence. The Bears’ website highlights more on O’Brien’s career and his new role with the organization.

📺️ Chicago Sports Network on upswing under Mike McCarthy, who now has led both regional sports networks in town Mike McCarthy is the guy you want at the helm if you want your RSN to flourish. He’s been involved with MSG Network in New York during the 90s, MSN locally since its inception in 2020, and now he’s working his magic with CHSN. The Bulls and Hawks are both experiencing a renaissance in TV viewership. Both are seeing increases of well over 100% compared to this time last season. Of course, it does help that both are doing more winning and that Comcast is broadcasting the games again. But CHSN has leaned into more content for its viewers, like documentaries, to keep them entertained. Despite cord-cutting trends industry-wide, CHSN has been the most-watched cable network in town during live games. McCarthy feels optimistic that the network will continue its ascent. The Sun Times reports on McCarthy’s history with RSNs and exactly how much viewership is up for the Bulls and Hawks.

🏀 Champions Classic to return to Chicago in 2026 For the fifth time in its history, the Champions Classic will return to the United Center next year. Kansas’ legendary coach Bill Self calls Chicago the second-best host of the double-header to NYC. The large contingent of KU alum in Chicago helps make the venue feel like home. The Champions Classic has been running since 2011 and features four of college basketball’s powerhouse programs: Kansas, Kentucky, Michigan State, and Duke. The four programs rotate cities and matchups. The annual showdown sets the tone for the college basketball season, with teams that are usually playing deep into the NCAA Tournament. The last edition at the United Center was in 2023, drawing 18,700 fans. Next year’s edition will aim to sell out all 20,917 seats. As the NBA’s largest arena by seat capacity, the United Center can create a thunderous atmosphere for the Champions Classic like few other arenas. Here is more information on some of the head-to-head records between the participating teams.

🏫 Overtime and Omaha Productions create High School National Championships Two renegade forces are coming together to revolutionize how high school football is broadcast. Overtime launched in 2016 to generate sports content geared toward younger fans with shorter attention spans. Omaha Productions is Peyton Manning’s brainchild that launched in 2020, aiming to bring more storytelling and authentic content to sports media. The Overtime Nationals High School Football Championships will set out to crown a national champion for the first time among high school football teams. Traditionally, only select games between powerhouse programs were broadcast on ESPN. Championship games are usually shown on local channels. The event looks to add prestige and ambience, creating a Super Bowl-like atmosphere at the high school level. It will take place at Under Armour Stadium in Baltimore, a couple of weeks before Christmas. The winner earns a $250,000 donation for its athletic program. CEO of Overtime, Dan Porter, says, “It’s the perfect moment to bring teams from across the country together for something of this scale.” Sports Business Journal details who will be playing in the game and what else to expect from its production.

🎾 College tennis star behind prize money lawsuit, Reese Brantmeier, wins NCAA championship In the NIL era, it seems every athlete in college is making money. Individualized sports like tennis follow different rules from team sports, though. Team sports like basketball and football generate the most revenue and offer players more opportunities to capitalize on their name, image, and likeness without technically paying them per game. The NCAA limits the prize money college tennis players can take home from pro tournaments to just $10,000, which is why Brantmeier is suing them. The rule seems outlandish in today’s NCAA. Some players earn six and seven figures before setting foot on a college campus. Yet if you play tennis, any prize money over $10,000 must be used directly for expenses related to the tournament you played in. A class action suit could go to court next Fall and include thousands of current and former college tennis players. It’s only icing on the cake that Brantmeier, a senior attending UNC, won an initial judgment from a U.S. Chief District Judge and the women’s singles title. Here is the estimated number of players who could be part of the lawsuit, along with how much a fellow tennis player had to give up when he reached the second round of Wimbledon this year.

👀 Suns Minority Owners Accuse Mat Ishbia of Fraud, Self-Dealing The future potential majority owner of the White Sox was just dealt a massive blow to his credibility. Ishbia, majority owner of the Phoenix Suns, is being dragged to court over breach-of-contract claims, among others. Two minority owners are stating that Ishbia schemed to avoid contributing his fair share to a capital call while looking to strong-arm the minority owners into potentially diluting their own shares. A Suns spokeswoman hit back at the claims, stating that the minority owners are simply looking to retaliate against Ishbia over an offer they didn’t like. Ishbia is no stranger to criticism. He’s faced complaints about how aggressive he is in roster moves for the Suns or about his role as CEO of United Wholesale Mortgage. He sounds prepared to clear his name as quickly as possible after countersuing the plaintiffs. This is welcome news for South Siders, who are waiting impatiently for Ishbia to end the Reinsdorf era. Get all of the juicy details of the lawsuit and countersuit here.

😱 The boom in sports gambling and prediction markets is creating “emerging credit risks,” per Bank of America Business is booming for sports betting companies and the emerging prediction markets. Polymarket, one of the largest prediction market platforms globally, has seen its monthly active users explode to almost 500,000. The platform handled about $9 billion in trading volume last year, while October trading volume was around $3 billion. But, as the headline suggests, everything that glitters isn’t gold. With an increase in appetite for prediction markets and sports gambling, credit risk to lenders also rises. Lenders that cater to market segments who may overextend themselves with gambling will have a tougher time finding qualified borrowers. Prediction market platforms are facing increasing legal scrutiny, as states debate whether to allow them alongside online sports betting. But with a platform like Polymarket valued at $12-$15 billion, many believe the credit risk will remain an elephant in the room as the market continues to flourish. Sherwood News reports on what BoA says investors should be wary of when it comes to prediction markets.

💰️ MLB’s new media deals with ESPN, NBC and Netflix total nearly $800 million annually What has been discussed for months is now official. MLB has almost doubled the value of its new media rights deals. It also has two additional media partners in Netflix and NBC, and has found a way to mostly make everyone involved happy. Rob Manfred, MLB commissioner, set out from the outset of negotiations to broadcast baseball on a more national stage, rather than the traditional model that relied on regional networks. The collapse of regional networks, kicked off by Diamond Sport’s Chapter 11 bankruptcy in 2023, was the catalyst for Manfred’s mission. ESPN, in particular, which has broadcast MLB games for over 30 years, was able to remain a partner with MLB while restructuring a deal that better served its interests. Now, MLB’s internal negotiations between players and owners aren’t going as smoothly as its media deals and could threaten the 2027 season. But at least we’ll get a chance to splurge on it through various networks until then. The Tribune breaks down what each network will receive through the new media rights deals.

🌎️ NBA's Europe-based league may launch in October 2027 Talk is cheap for the NBA’s Europe league plans. After years of speculation, things accelerated in March when the NBA announced it’s for real about the European league. The plans call for a 16-team league with a fixed number of permanent franchises. Perennial top teams like Real Madrid and Fenerbahce will make up the permanent franchises. Four slots will be allotted to teams that either win the FIBA Champions League or perform well in their domestic leagues. The system would resemble Europe’s Champions League in soccer more than the NBA, but there are plans for crossover with the NBA. For example, the Orlando Magic and Memphis Grizzlies will play in Berlin and London in January, potential host cities for the new league. Europe is a completely different beast to make an integrated basketball league work in, compared to the NBA. Still, NBA Commissioner Adam Silver sounds confident they will work the kinks out for a successful launch. To hear what Silver has to say about the launch of the league, click here.

🏀 Women’s Pro Baseball League to play inaugural 2026 season at Robin Roberts Stadium in Illinois Another marquee moment in women’s sports is coming next year. The WPBL will feature four teams playing each other over seven weeks. Even though the teams are all on the coasts, the games will be played locally here in Springfield. The draft took place last Thursday. 120 players were selected to play in the first pro women’s baseball league since the ‘40s. That league — the All-American Girls Pro Baseball League (AAGPBL) — lasted for 11 years and reached 15 teams at its peak. It folded after losing corporate support and lacking a stable, long-term financial model. The WPBL will seek to avoid a similar path amid the growing popularity of women’s sports. Players will earn $95,000 in salary, including covered living costs and a percentage of sponsorship revenue. Yahoo Sports discusses where the four teams hail from and where they will be playing in Springfield.

🏈 NFL plans return to Spain after success of Bernabéu game The NFL’s final international game of the season was a resounding success. The Estadio Santiago Bernabeu (80,000+ capacity) in Madrid attracted 78,610 fans to watch the Miami Dolphins beat the Washington Commanders. For one of the most famous stadiums worldwide because of its soccer club, that’s a great turnout. It caps the NFL’s biggest season yet of international games and sets the stage for football across the globe for years to come. Next season, two teams will play at the historic Melbourne Cricket Ground for the NFL’s first game played in Australia. The league also signed a multi-year deal to return to Rio de Janeiro after two seasons of successful Friday night games. There doesn’t seem to be anywhere the NFL isn’t willing to go, granted they have the right venue, enough local interest, and of course, a big budget to make the event a success. The Stadium Business gives more details on this season’s international games.

⛳️ Callaway Offloads Topgolf in $1.1 Billion Sale to PE Firm A precipitous fall from grace has been capped...for now. When Callaway bought Topgolf in 2020, the golf-tainment chain was valued at $2 billion. PE firm Leonard Green hopes to restore value to the beleaguered brand. Leonard Green also has ownership stakes in Crunch Fitness, Reebok, and Champion. The move corresponds with its interest in sports industry retail properties. Callaway will split off into a separate company, Callaway Golf Company, and remain a specialist in golf equipment and apparel. It will also retain 40% ownership in Topgolf. Topgolf’s pandemic-era rise had people going out in droves to resocialize after extended periods stuck inside. The casual visitors the brand was expecting to turn into loyal guests never materialized. Leonard Green will need a precise turnaround plan executed if it wants to end Topgolf’s slide. Here is more on the failed merger between Topgolf and Callaway.