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Amazon CEO, Drake invests: Sports media startup raises $80 million

Rick D'Andrea

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If you don’t know what an NFT is yet you need to catch up!

Sports media startup Overtime has raised $80 million in Series C funding through huge name investors including Amazon’s Jeff Bezos, music star Drake, and more than 25 NBA players.

Overtime Elite is a transformative new sports league that offers the world’s most talented young basketball players a better pathway to becoming professional athletes.

It also allows them to engage and inspire a new generation of digitally native fans.

Overtime says its new funding will go toward developing NFTs, trading cards, and sports betting content.

“Overtime has built an unrivalled brand and global community from scratch in just five years. This fundraise reflects the incredible growth opportunities associated with such a market leading position, including the opportunity to bring Overtime Elite into the world,”

said Michael Spirito, a partner at investment firm Sapphire Sport, who led the funding round.

Overtime has now raised a total of $140 million since being founded in 2016.

Media

Disney inks deal with MLB and LaLiga to ESPN+ as streaming revenue slows

Brittany Coles

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Disney is expanding its presence in the wide world of sports.

Disney has signed on a new seven-year agreement with Major League Baseball and an eight-year pact with Spain’s LaLiga soccer league.

This is latest in a series of sports-programming deals by the entertainment giant of the world.

It’s already the parent of ESPN and now set to broadcast 30 regular MLB games per season.

The soccer deal gives ESPN+ rights to the English and Spanish-language coverage of LaLiga.

It’s all part of ESPN sports-rights renewal binge that’s been happening this year.

Is this a bid to boost subscribers to Disney affiliated networks? The two sports deals represent a big financial commitment. 

“ESPN’s longstanding relationship with Major League Baseball has been a driver of innovation for three decades,” ESPN Chairman Jimmy Pitaro said in a statement.

“This agreement solidifies baseball’s ubiquitous presence across ESPN platforms, including ESPN+.”

According to Bloomberg, Disney will pay $175 million a year for soccer, according to a person familiar with the matter, which would be more than the Premier League’s deal with Comcast Corp.’s NBC.

“For the baseball deal, the sports news site the Athletic reported earlier this year that Disney could be paying as much as $150 million a year less for the package,” Bloomberg said.

It previously had an eight-year deal worth $5.8 billion for considerably more games.

This follows Walt Disney Co missing analysts’ estimates for quarterly revenue.

The slump is being blamed on a decrease in new subscribers to Dinsey Plus and operations at its theme parks remaining restricted.

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Sport

The move behind EPL’S $7 billion broadcasting deal extension

Brittany Coles

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English Premier League soccer clubs have renewed their existing UK broadcast deals to avoid money loss.

The English Premier League soccer championship has agreed a proposal for a three-year renewal of U.K. live and non-live broadcast agreements with Sky Sports, BT Sport, Amazon Prime Video and BBC Sport.

EPL has signed with the major networks from 2022-2025 to avoid an auction process that could have lost them money.

Skipping the auction will be a relief to England’s top 20 clubs as revenues from domestic broadcast rights deals were expected to fall.

Premier League chief executive said the deal would play a major role in a return to normality for the competition and clubs.

The rights deal worth £5 billion ($7 billion) was agreed in 2018.

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Sport

The wealthiest megastar to top Forbes 2021 highest paid athletes list

ticker NEWS

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Conor McGregor has been named the world’s highest paid athlete for 2021

The mixed martial arts star raked in a massive 180 Million US dollars.

He only fought once in the octagon during the report period… with the majority of his earnings coming from his businesses successes – including the sale of his Proper Twelve whiskey brand.

Barcelona’s Lionel Messi was second on the list with 130 Million US and then Cristiano Ronaldo on 120 Million.

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