On the night of the 2016 NFL Draft, the infamous “gas mask video” of Laremy Tunsil surfaced, and the former Ole Miss star ended up falling in the draft, costing him millions of dollars. Now, Tunsil is selling a 1-of-1 NFT of the video, with proceeds benefiting cannabis criminal justice reform.
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Unlike past editions, no one was totally sure who the No. 1 pick would be heading into Thursday night’s NFL Draft. One thing, however, was predetermined: All first-round picks will get a four-year contract and guaranteed signing bonuses.
When the Jacksonville Jaguars picked Georgia defensive lineman Travon Walker with the first-overall pick, Walker knew instantly that he had just landed a four-year, $41.4 million deal and a $27.3 million signing bonus.
But not all first-round picks are the same. Sliding in the draft can cost a player tens of millions of dollars when it comes to his rookie deal. The difference in contract value at the top, middle, and bottom of the first round is significant.
- No. 2 overall pick: $39.6M, $25.9M signing bonus
- No. 16 overall pick: $16.4M, $9.1M signing bonus
- No. 32 overall pick: $12.4M, $6.2M signing bonus
Players and teams can negotiate for a fifth-year option upon completion of their third season. When a fifth-year option is picked up, the fourth-year salary is guaranteed. This could be the first year most of the draftees have had that guarantee.
No matter when players are ultimately selected, they will all have opportunities to make additional money — sometimes millions — through endorsement deals.
Before Trevor Lawrence became the No.1 overall pick in last year’s draft, the former Clemson star quarterback signed a deal with Gatorade worth up to $2 million per year and landed other deals with crypto exchange Blockfolio and Adidas.
Amazon recorded its slowest period of year-over-year growth in more than a decade in the company’s latest earnings report.
The tech giant, which is poised for growth as it continues to add live sports to its Prime Video service, generated $116.4 billion in revenue in Q1 2022, a 7% increase year-over-year, behind a net loss of $3.8 billion for the quarter.
Shares of the Seattle-based company, however, were down nearly 10% in post-market trading.
Amazon attributed the lukewarm results to supply chain shortages and inflationary pressures, but the company’s first quarter also included costly expansion projects and deals.
- It launched its Luna cloud gaming service, allowing U.S. customers to access more than 100 gaming titles on devices that include PCs and Fire TVs.
- The company closed its acquisition of MGM for $8.5 billion, adding 4,000 film titles and 17,000 TV episodes to its portfolio.
Amazon also announced a media rights deal with Universal Tennis in Q1, which will also include an investment by the tech giant to implement inclusive and innovative changes for the sport.
Last year, Amazon Prime agreed to an 11-year deal with the NFL for exclusive rights to “Thursday Night Football” for $1 billion per season. It also inked a deal to carry Ligue 1 and Ligue 2 games for $1 billion.
Earlier this week, it secured a rights agreement with mixed martial arts promoter One Championship.
As a result of the investments, Amazon announced a price increase for the service last quarter, from $119 per year to $139.
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Houston Rockets owner Tilman Fertitta is expanding his business empire — and going up against casino giants like Caesars Entertainment and MGM Resorts International.
Fertitta is purchasing land on the Las Vegas Strip with plans to build a high-end casino.
- Fertitta will pay $200 million for a six-acre site situated between the MGM Grand and Caesars’ Planet Hollywood.
- The deal is not yet final, but Fertitta reportedly expects to close the transaction before the end of the summer.
- The site currently holds a Travelodge motel, as well as retail and restaurant locations.
The restaurant and casino mogul’s Fertitta Entertainment sold Golden Nugget Online Gaming to DraftKings in a $1.6 billion all-stock deal last August, but retained ownership of Golden Nugget. Fertitta Entertainment also owns restaurant chain Landry’s.
Not So FAST
Last year, Fertitta Entertainment agreed to merge with a SPAC, FAST Acquisition Corp., in a deal valuing the combined company at $8.6 billion.
In December, the two sides called off the deal following a dispute in which Fertitta sought to back out. FAST challenged that move, saying that Fertitta Entertainment was legally compelled to proceed.
Fertitta Entertainment will pay up to $33 million to extract itself from the arrangement, partly contingent on whether FAST goes on to merge with another company.
Fame opens all sorts of doors, and Frankie Muniz, best known for the title role in the sitcom “Malcolm in the Middle,” is seeking to turn his notoriety into a NASCAR career.
After racing for five years and injuring his wrist in 2009, he shifted his focus to music and film.
“I have unfinished business,” Muniz told Front Office Sports.
Now, 36 and a new father, he’s going all-in on racing.
“I’m uprooting my kid and my life,” said Muniz, who just sold his house in Scottsdale, Arizona. “If a team wants me in Charlotte or Indiana, I need to be there.”
- Muniz is looking to break into NASCAR’s ARCA Series or Truck Series, both of which have media deals with Fox through its FS1 network.
- The Camping World Truck Series carries a total prize pool of over $700,000.
- The ARCA Menards Series offers up $250,000, and the ARCA East & West Series account for $100,000 for their total point funds.
Muniz in the Middle
While prize money can help, the teams Muniz wants to join rely heavily on sponsorships.
“Some teams are spending $20 million a season,” said Muniz.
While he’s out to prove he’s more than a celebrity hobbyist, his star power may help fund a team. “A team may see value in what I bring to the table, either from the acting side or from my racecraft.”
Muniz isn’t concerned what path he takes — as long as it leads him to the track.
- DeGods, Solana’s biggest NFT project by market cap, is purchasing all 25 $25,000 Fire-tier NFT ownership stakes in BIG3’s Killer 3s team.
- The Golden State Warriors are back to being championship favorites thanks to a miniature rebuild that reinforced the team’s core: Steph Curry, Klay Thompson, and Draymond Green. The team advanced to the second round after beating the Denver Nuggets 4-1.
- Across ABC, ESPN, and TNT, the Celtics-Nets series averaged 4.8 million viewers, making it the most-watched first round NBA series since 2016 and the most-watched Eastern Conference first round series since 2012.
- According to a poll conducted by Front Office Sports and The Harris Poll, 39% of U.S. adults surveyed at least somewhat support MLB’s decision to allow jersey patches as advertisement.
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39% of respondents have visited a PGA Tour Superstore.