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Tuesday, December 28, 2021
Monday, December 13, 2021
Saturday, December 11, 2021
‘Absurd’: NFL punter turned host hits $170m jackpot as gamble pays off with ‘richest ever’ deal
‘Absurd’: NFL punter turned host hits $170m jackpot as gamble pays off with ‘richest ever’ deal
In what might be the richest talent deal in sports media history, FanDuel has reportedly signed a deal with “The Pat McAfee Show” worth in the vicinity of $US30 million ($A42m) annually.
NFL insider Ian Rapoport was first with the news an extension had been reached — as McAfee’s show already had a sponsorship deal with FanDuel — and NBA insider Shams Charania followed up with the annual compensation.
McAfee confirmed in a YouTube video his show has reupped with FanDuel for “an absurd amount of money” on a four-year deal with an opt-out after three years.
The 34-year-old was a punter for the Indianapolis Colts for seven NFL seasons before retiring and pursuing a career as a broadcaster.
It’s unclear how much of that $US30 million is base pay, versus potential enticements for affiliate referrals. Furthermore, this deal likely includes the pay for his co-host A.J. Hawk, and crew of producers and other show contributors. Nevertheless, McAfee is the main driver and this is an enormous pay package that will inevitably have ripple effects across the industry.
As sports gambling implementation continues its slow crawl toward activation in New York, there has been a gold rush across America. Everywhere you turn, inside and outside of sports, there is marketing for sportsbooks like FanDuel, DraftKings, PointsBet, BetMGM, WynnBet, BetRivers, Caesars and so on.McAfee, as an edgy and relatable personality, has proven to be an effective referrer of bettors to FanDuel. This is why they were so keen to back up the Brinks truck to retain him as gambling moves into higher-populated states such as New York and perhaps eventually Texas and California.
Other notable gambling deals involving sports media talent include Penn National Gaming buying Barstool Sports from The Chernin Group, and DraftKings doing a deal with Meadowlark Media’s “The Dan Le Batard Show with Stugotz” that was reportedly worth $50 million over three years.
Fertitta Ends $8.6 Billion Deal to Take Casino Empire Public
Fertitta Ends $8.6 Billion Deal to Take Casino Empire Public
Billionaire Tilman Fertitta reached a settlement to pull out of an $8.6 billion deal with a blank-check company that would have taken his restaurant and casino empire public.
Fertitta Entertainment Inc., the parent company of the Golden Nugget casinos and the Landry’s restaurant group, agreed to pay as much as $33 million to end a planned merger with Fast Acquisition Corp., a special purpose acquisition company formed last year.
“At the end of the day we ultimately determined that the right decision for my company was to remain private at this time,” Fertitta said in a statement on Friday. “I look forward to continuing to grow our business.”
The settlement brings to a quick resolution a dispute between Fertitta and Fast Acquisition that flared up earlier this month. Fertitta’s general counsel sent a letter Dec. 1 notifying the SPAC of its intention to call off the merger due to delays, drawing a threat of legal action in response.
Fast Acquisition shares advanced 1.2% to $10.18 as of 10:35 a.m. Friday in New York after gaining as much as 2.9%. Bonds issued by Golden Nugget were unchanged, according to Trace data.
Fertitta, who also owns the Houston Rockets basketball team, announced in February that he planned to take his casino and restaurant operations public through the SPAC. In June, he expanded the deal to add additional businesses.
Fast Acquisition, whose backers include Ruby Tuesday founder Sandy Beall, said it will continue to look for a combination with a new operating company and that the settlement will ensure the blank-check firm will remain sufficiently capitalized as it seeks a new target.
Tuesday, December 7, 2021
Wednesday, December 1, 2021
Packer earns $500m as tech investor
Packer earns $500m as tech investor
The billionaire’s private investment company returned to profit this year, thanks to buying and trading technology stocks as well as an uplift in his Crown shares.
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