Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Key Points In Licenses for Sports Betting Rights
The legalization of sports betting and the licensure of such rights to new tech market players is redefining sports media and sports law. As a result, contract negotiations are becoming increasingly complex and requiring parties to consider an evolving set of nuanced issues.
This trend — which began to emerge following the U.S. Supreme Court's decision in Murphy v. National Collegiate Athletic Association, 138 S. Ct. 1461 (2018), to strike down the Professional and Amateur Sports Protection Act of 1992 and open the floodgates to allow states to legalize sports betting — reached epic proportions in recent months. The past several alone have brought an unprecedented boom in sports media industry transactions, including:
- The Fox Sports regional television networks have rebranded as Bally Sports in a 10-year, $85 million deal.
- ESPN is experimenting with gambling-focused studio shows.
- DraftKings purchased the Vegas Stats & Information Network for $50 million.
- Caesars Entertainment closed multiple deals with professional teams, such as the MLB Arizona Diamondbacks. to open sports books in ballparks and stadiums across the country.
- Genius Sports, who licenses all of the NFL's sports betting data rights, completed a $1.5 billion public offering and was listed on the New York Stock Exchange.
Based on my experience since 1995 at the center of the convergence of technology within the sports and entertainment industries, commencing with the Internet and dot-com boom, I can say there's not much I haven't seen — and without a doubt, I have never witnessed this degree of activity and change within the industry in such a short time frame.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.