HoopsHype Business rumors

August 1, 2014 Updates

Kevin Durant’s contract expires soon, and the organization with which he’s been for what seems like forever is under siege. Every competitor wants Durant’s services, most notably an upstart in his youthful stomping grounds. We’re talking about Nike, of course, which has produced seven versions of Durant’s signature shoe, but Durant’s Swoosh contract runs out this week, and Maryland-based Under Armour plans to come after Durant with gusto. Oklahoman

July 31, 2014 Updates
July 30, 2014 Updates

Kevin Durant spent Wednesday morning in Las Vegas talking to 10 companies that sponsor him while addressing questions on how he handles being a public figure and being chosen as a popular figure on Madison Avenue. While Durant was one of the most liked players in the league, he became the most liked this season, according to the Q Scores, thanks in great part to his MVP speech in which he emotionally thanked his mother for her guidance and support. "I didn't do that to be marketable, to be looked at as one of the more marketable guys," Durant said in an interview with ESPN. "Was just being myself, and, if people like for me being myself, then I'm cool with it. I'm not trying to be nobody else or act a different way. I'm still a work in progress just like everybody else so I'm just going to continue to keep being who I am, and I enjoy all the partners that partner with me. I just try to do my best to represent them and do everything in authentic ways." ESPN.com

The NBA Kings have "signed a 20-year media rights extension with NBC Sports Group worth" $690-700M, according to Lombardo & Ourand of SPORTSBUSINESS JOURNAL. The new media rights deal "will keep the Kings on Comcast SportsNet California" through the '33-34 NBA season. Sports Business Daily

July 28, 2014 Updates
July 22, 2014 Updates

Carmelo Anthony will try his hand at picking winners among technology startups through a new venture fund called M7 Tech Partners, an LLC he co-founded with digital media and entertainment veteran Stuart Goldfarb. According to its Crunchbase profile, M7 Tech Partners will invest in “early stage digital media, consumer internet and technology ventures.” The fund’s name is a play on Carmelo’s nickname – “Melo” – and his jersey number seven. M7 made its first move by investing in children’s storytelling startup Hullabalu with more tech and media investments on the way. The Fields of Green

July 21, 2014 Updates

Mike Miller: Super excited to be opening my 1st BurgerFi!!! Thanks to my amazing team that help get it here.… instagram.com/p/qugy6rvyCT/ Twitter @MikeMiller_13

NBA All Star and two-time Olympic gold medalist Carmelo Anthony is getting in the seed investing game in partnership with Stuart Goldfarb, the former executive vice president of NBC and chief executive of Bertelsmann Direct North America. The pro athlete and the media entrepreneur have formed a fund, M7 Tech Partners, to invest in seed-stage tech startups. Andreessen Horowitz’s Ben Horowitz, among other institutional investors, helped the duo become familiar with the early-stage startup scene over the past 12 months, Mr. Goldfarb said. Wall Street Journal

July 17, 2014 Updates
July 16, 2014 Updates
July 14, 2014 Updates

Landing LeBron James will mean hundreds of millions of dollars in economic benefit to Cleveland and Northeast Ohio, Cuyahoga County officials said. The return of the star forward to his hometown Cleveland Cavaliers will mean $500 million a year in additional ticket sales and spending, County Executive Ed FitzGerald said today. The 2016 Republican National Convention in the city will bring an additional one-time windfall of $200 million, he said. “While we already know that LeBron’s decision is a tremendous boost for our civic pride, it is also going to have very real benefits for the middle class families who live here in Cuyahoga County,” FitzGerald, a Democrat running for governor this year, said in a release. Akron Beacon Journal

July 12, 2014 Updates

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