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Gayle Benson—owner of both the New Orleans Saints and New Orleans Pelicans—has acquired the Windsor Court hotel in New Orleans. The acquisition brings the 42-year-old hotel under 100 percent local ownership for the first time, with the Berger family retaining a minority ownership interest.
The NBA, WNBA and American Express announced the global expansion of their partnership, building on their decades-long relationship and American Express’ role as the official payments partner of the NBA and WNBA. The expansion marks the first season of international activations across the NBA, WNBA and USA Basketball under the multiyear deal, which also includes the NBA G League and NBA Take-Two Media.
Mike Vorkunov: "We found out that winning really does matter for teams when it comes to their bottom line. The Knicks had their best day of merch sales ever the day after the finals. Maybe not so surprising, but people who had their team win a championship want to go out and buy a bunch of stuff that supports their team and gets to say that. The numbers came out, and I think it was August or so, but the Knicks had nine home games this playoff run, and they had nine home games the year prior when they went to the Eastern Conference finals. And I think they made something like $60 million more dollars this year. They average about $20 million in revenue per home game. They said in their SEC filings that that set NBA records for game revenue gates. And so it is really fascinating because a separate one for the Rangers said that they really need prolonged playoff runs to be profitable."
Josh Kushner and Bob Iger have been offering Lakers minority stakes to investors starting at $250 million apiece as they build out their ownership group, Front Office Sports has learned. The duo, which agreed to buy the Lakers from embattled billionaire Mark Walter over the summer at a record $12.5 billion valuation, have been working to sell minority stakes for between $250 million and $300 million each, four sources familiar with the matter tell FOS. That is just the starting point, and there will be minority investors who put significantly higher amounts into the deal, two sources say.
The idea that Kushner is having trouble raising money for the deal is not true, one source tells FOS. There has been massive demand to get in on the Lakers deal, according to two sources, although it’s not clear who has expressed interest in buying in. The transaction could be completed within the next few months, one source says. Once the deal closes, Kushner will be majority owner, while Iger will be a minority owner and will oversee day-to-day operations of the team, the same source says.
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Most recently, it was reported that Walter is looking to sell the WNBA’s Sparks. A source confirms to FOS that Kushner and Iger are not currently interested in buying the Sparks. Bloomberg first reported they’re not among the potential buyers.
“I’m a huge lifetime Knick fan and when the Knicks signed Jalen Brunson, we knew that he was going to be such a difference maker to the team,” Alex, who is the CEO of Faherty Brand, said in an interview with The Post. “[Before working with Brunson] we’d been thinking about and talking about… that it would be great to sort get our inroads into sport because my brother and I are lifetime athletes and Villanova fans.” Brunson won two NCAA national championships with Villanova in 2016 and ’18 before heading to the NBA.
Health and fitness tracker Whoop has signed LeBron James as its newest global ambassador. It marks a full-circle moment for the brand and NBA star, who started wearing a Whoop in 2015 as one of its first 100 members, long before health wearables became ubiquitous. James will star in multimedia ad campaigns for Whoop, which currently has 3.5 million active paying members. “LeBron is one of the greatest examples of longevity in professional sports,” Whoop founder and CEO Will Ahmed said via email. “What’s exciting about this partnership is that we get to tell that story together and show people that performance isn’t just about what you do on the court. It’s about how you take care of yourself every day, over time.”
James set a record last year by suiting up for his 23rd NBA season, topping Vince Carter’s longevity record. James extended the record this year when he signed a two-year, $8 million contract with the Philadelphia 76ers. The NBA’s all-time leading scorer, who turns 42 in December, isn’t just coasting as he approaches the finish line—he averaged nearly 21 points per game last year. “I didn’t leave my family to lose in the second round,” he said during his 76ers media day appearance “I’ve spent my career doing everything possible to keep my body at peak performance,” James said in a statement. “For the last 11 years, Whoop has been part of that.” James’ sleep score ranks among the top 10% of Whoop users, per Ahmed.
Mike Vorkunov: The New York Knicks and Rangers are now two separate publicly traded companies. MSG Sports completed its spinoff today. It changed its name to MSG Knickerbockers Corp. and now trades on the New York Stock Exchange under "MSGK." MSG Rangers Corp trades under "MSGR."
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The NBA announced Monday that it is partnering with leading prediction markets Kalshi and Polymarket, becoming the latest major U.S. sports league to team up with the controversial industry that opponents say blurs the line between gambling and financial trading. The NBA said the partnerships create an integrity framework, including giving the league greater influence over the markets offered, information sharing, and a memorandum of understanding with the Commodity Futures Trading Commission, the federal regulator that oversees the prediction market industry.
Mark Walter is looking to sell the WNBA’s Los Angeles Sparks, taking another step in the dismantling of his sports-team empire, according to people familiar with the matter. Walter is looking to sell the franchise and a related practice facility for more than $700 million, said one of the people, who wasn’t authorized to speak discussing private dealings.
