Morning Buzz

Athlete licensing giant OneTeam Partners has partnered with investment firm EnTrust Global to launch EnOne Ventures. The new fund is raising $250M to back early- and growth-stage sports businesses. It’s thus far secured commitments of around $77M from Fanatics, family offices and an undisclosed sovereign wealth fund from southeast Asia.

The fund has made two initial investments into Ari Emanuel’s MARI events business and memorabilia authenticator The Realest, for which it recently led a $12M funding round.

OneTeam, which manages licensing, marketing and other commercial services for the MLBPA, MLSPA, NFLPA, WNBPA and others, began exploring a fund a few years ago following successful investments in companies like Hyperice and Overtime. OneTeam President Frank Arthofer said investing off the company’s balance sheet was “not a particularly systematic and scalable approach,” especially when OneTeam’s athlete union ownership would rather return cash to players than use it for venture investing.

With a pool of dedicated capital, Arthofer said, OneTeam could have an edge.

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The NWSL has filled two key vacancies within its leadership ranks, hiring Brian Kelly from Top Rank Boxing as chief commercial officer and Rachel Epstein from ESPN as chief marketing officer. Kelly and Epstein will assume responsibilities previously housed under Julie Haddon, who held the combined role before departing in May 2025. Kelly begins his duties today, while Epstein will officially join the league later in April. Kelly will report directly to NWSL Commissioner Jessica Berman, with Epstein reporting to Kelly.

Kelly most recently served as CRO at Top Rank, with previous roles at Bleacher Report and Turner Sports, CBS Sports and IGA Worldwide. At the NWSL, he will oversee business development, sponsorship, media, licensing and consumer products. He joins the league as it prepares to take its full slate of domestic media rights back to market following the 2027 season.

Epstein last served as VP/Live Sports & Audience Expansion at ESPN, overseeing marketing across properties including the WNBA, NWSL, tennis, NCAA championships, MLB, F1 and international soccer. She also led programming and development for espnW. At the NWSL, she will oversee marketing initiatives aimed at audience engagement and growth as the league looks to capitalize on a five-year window that includes the 2026 World Cup, 2027 Women’s World Cup, 2028 Olympics and 2031 Women’s World Cup.

The league retained CAA to lead the CCO search but did not use a search firm to fill the CMO role. In addition to the C-suite hires, the NWSL added Jessica Goldstein from Optimum Sports as VP/Partnership Management & Solutions, while promoting Meg Buchan to VP/Broadcast and Carlin Hudson to VP/Strategy.

The deadline for non-binding NBA Europe bids passed at midnight ET Tuesday, and “multiple bidders proposed investments of at least” $1B, according to sources cited by THE ATHLETIC. Sources added “several others met or exceeded the league’s expected” $500M entry range, and there was “‘serious’ interest from more than 120 prospective investors.” The group of bidders also includes existing European clubs -- including teams competing in the EuroLeague -- “a dynamic that could have major implications for the future of the continent’s top competition, which the NBA is effectively trying to replace.” Sources said that as “part of the bidding process, potential investors entered into non-disclosure agreements with the NBA.” One source said that the submissions “functioned more as declarations of interest than firm offers.” Another source said that European bidders “were questioning the NBA’s proposed business plan” -- and that “weeks of contentious negotiations lie ahead” (THE ATHLETIC, 4/1).

The NCAA Men’s Basketball Tournament heads into the Final Four on Saturday with its best audience figure since 1993, as CBS Sports and TNT Sports are averaging 10.3 million viewers per window (the combo of games across a given window on CBS, TNT, truTV and TBS). The networks are also up 9% from the same point in 2025. Gains for CBS and TNT Sports have no doubt been aided by the introduction of Big Data and full out-of-home measurement from Nielsen. Every game window in the Elite Eight and Sweet Sixteen saw year-over-year audience gains this year.

Meanwhile, on the women’s side, ESPN networks averaged 1.6 million viewers for the Sweet 16 round of the NCAA Women’s Basketball Tournament, which is the third-best regional semifinal round on record for the network.

The PGA Tour said on Tuesday that its Future Competition Committee will continue its work as its chairman, Tiger Woods, steps away following his car accident and subsequent arrest last week. Woods on Tuesday night issued a statement saying he was stepping away for a “period of time” to seek treatment and focus on his health.

A tour spokesperson said the committee’s work, which includes vast changes to the future PGA Tour schedule, would continue and that it had a virtual meeting today. The spokesperson added that the tour expects Woods to return as chairman of the committee once he’s ready to do so.

Multiple reports on Tuesday said that Woods plead not guilty to charges of misdemeanor DUI with property damage and refusal to submit to a lawful test. The tour, as well as CEO Brian Rolapp, both released statements on Tuesday supporting Woods’ decision to step away.

Nike President & CEO Elliott Hill pleaded for patience from investors Tuesday as the embattled sportswear giant continues a yearslong “Win Now” turnaround process that’s focused on repairing wholesale relationships and overhauling product offerings. Hill acknowledged that he hoped for quicker progress, but that the company is seeing indications of success, even if its finances continue to lag.

“We’re even more convinced now that the ‘Win Now’ actions were, and remain, the right strategic moves,” Hill told analysts on Nike’s Q3 earnings call. “These are deliberate actions. We are not just fixing -- we’re building brand by band, sport by sport. ... I will acknowledge that parts of it are taking longer than I’d like, but we believe in the direction. We’re moving with urgency and the foundation is getting stronger. I feel great about that.”

In after-hours trading, Nike shares fell more than 9% from $52.82 to around $48, the company’s lowest share price since 2015.

More specifically, Hill pointed to recent success in running (up more than 20% in the quarter), in wholesale (up 5%) and in North America (up 3%). But he also highlighted continued challenges in China, where revenue fell 7% with declines across all product categories, and with Converse. That subsidiary saw revenue fall 35% to $264M, though it’s just a small, single-digit percentage of Nike’s total business.

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PHOENIX -- NFL Commissioner Roger Goodell said Tuesday the league’s Rooney Rule requiring teams to interview minorities for vacant coaching and executive positions will continue despite legal pressure from Florida.

“We are well aware of the laws and where the laws are changing or evolving,” Goodell said. “We think the Rooney Rule is consistent with those, and we certainly will engage with the Florida AG, or anybody else, as we have in the past to talk about our policies and what they are.”

Earlier this month, Florida Attorney General James Uthmeier sent a letter to the NFL, claiming the NFL’s 23-year-old rule violates Florida employment law. He demanded the league suspend the rule’s application to the three Florida teams, the Dolphins, Buccaneers and Jaguars. He gave the league until May 1 to respond and promoted his demand on social media.

When asked directly if the NFL would abandon the Rooney Rule, Goodell said: “No,” but said it could change.

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NFL owners on Tuesday unanimously approved the Jaguars’ proposal to play their 2027 home games at Camping World Stadium in Orlando. The Jaguars will play at a reduced-capacity EverBank Stadium this year and then Orlando the following season as a $1.4B renovation of EverBank is completed. The Jaguars in 2027 will have 10 “home” games (one preseason and nine regular season). Jaguars President Mark Lamping said, “Right now, we know for certain that one of those games will be played in London. Beyond that, there could be as many as three games (played outside of Orlando).” Lamping said the league did “not mandate any improvements to the Orlando stadium before the Jaguars play their first game.” Lamping said Jaguars season-ticket holders will be “initially offered the opportunity to buy season tickets for the Orlando schedule and an announcement in the ‘not so distant future,’ will outline a process to register for tickets.” (FLORIDA TIMES-UNION, 3/31).

For one season, Orlando “will be an NFL city” -- and that “is a huge deal.” The Jaguars “get to cultivate a market they should have been cultivating years ago,” and it is also “great for the city’s business leaders.” For one season, Orlando “moves from being a ‘great event city’ to being a pro football town.” And “make no mistake about it, the NFL will be watching closely.” This is an “opportunity for the NFL to see what Orlando looks like as an NFL city in real time.” Orlando has been “pushing hard” to become a sports capital, and hosting an NFL team for a season “doesn’t just help that argument; it supercharges it” (ORLANDO SENTINEL, 3/31).

Fanatics and the Bills have struck a deal allowing Fanatics to operate e-commerce globally for the team, replacing Legends. It’s the sports merchandise giant’s 29th NFL team deal.

Revenue projections, guarantees and other deal terms were not disclosed, but the Bills have the makings of a substantial business driver for Fanatics. Buffalo is one of the smallest markets in the league, but is a top-tier national TV draw and has a social media following in the top third of the NFL by most metrics. Better monetizing fans outside of the Buffalo market, including in southern Ontario, is a key part of the team’s business strategy.

As part of the launch of the relationship, Fanatics offered discounts to buyers today, including a free-shipping deal for Canadian buyers.

The deal does not include brick-and-mortar retail at the team’s new Highmark Stadium, set to open this year. Legends will continue to run that as part of is comprehensive relationship with the Bills around planning, selling and servicing the $2.2B outdoor venue.

Women’s sports-focused ownership group Mercury13 has signed a deal with AI-powered sponsorship platform PlayMaker Software. It’s a multiyear deal between the two that will see the group and its three clubs -- FC Badalona Women, Bristol City Women FC and FC Como Women -- use PlayMaker’s software to manage sponsorships and their various activations more efficiently.

PlayMaker automates some of the more time-consuming elements of sponsorship. It uses AI to extract important details (like key dates and activations included) from sponsorship contracts and can also generate proposals for teams and their prospective clients.

This is PlayMaker’s first deployment with a multi-team ownership group. Its client list includes both rightsholders and brands, featuring an MLS club (Austin FC), an NWSL club (San Diego Wave FC), and the TGL’s The Bay Golf Club. Mercury13 seeks to invest more into women’s soccer via its multi-club model.

Read more about how Mercury13’s deal with PlayMaker Software will help its three clubs in tonight’s SBJ Tech newsletter.

Angel City FC co-founder Julie Uhrman took to social media Tuesday to offer thanks as she ends her time as CEO of the NWSL club. It was reported in January that Uhrman would step down from her role at the end of March and transition to a new role as principal advisor to club ownership on April 1. Uhrman, in the post, noted the founders of the club -- herself, actor Natalie Portman and venture capitalist Kara Nortman -- were “unlikely partners” when they came together to launch Angel City in 2020, but they “believed women’s football deserved more.” Uhrman: “More investment. More visibility. More equity.” She noted they “had a bold idea” that “quickly became something bigger.” Uhrman: “A belief that mission and capital could coexist. A commitment to lead with equity. An ambition to build not just a team, but a global brand and platform for change.” Uhrman had served in the CEO role with Angel City since the club’s founding (SBJ).

Plans to bring professional soccer to Baltimore “remain without a funding source” after legislation to build a soccer stadium “stalled out” in Annapolis. A measure in the Maryland House and Senate that would have allocated $217M to build D.C. United a stadium on the Carroll Park Golf Course in southwest Baltimore did not “make it out of committee in either chamber, effectively killing it this legislative session.” D.C. United spokesperson Samantha Ward said that the club “would continue its work” to bring pro soccer to Baltimore. The Carroll Park location “has been met with community pushback,” but lawmakers are not “ready to shut the door entirely on a Baltimore soccer stadium” (BALTIMORE BANNER, 4/1).

Comcast Xfinity on Tuesday night “pulled” Scripps channels from its lineup in the middle of the second period of the Florida Panthers’ win over the Senators “due to a carriage dispute.” The team had sent out a statement in the first period noting that Xfinity was planning to pull the channels. Scripps broadcasts the Panthers on channel 39 in the Miami/Fort Lauderdale market and channel 9 in West Palm. These carriage disputes “usually end,” but “perhaps not before the Panthers play host to the Boston Bruins on Thursday” (FLORIDA HOCKEY NOW, 4/1).

The Durham Bulls are looking for a Manager/Promotions & Game Entertainment. The Durham-based position is responsible for developing theme nights, promotions and in-game entertainment, while also bringing those ideas to life on game day overseeing the promotions and production team (Durham Bulls).

USA Basketball is looking for a Manger/Men’s National Team. The Colorado Springs-based position is responsible for assisting the National Team Dir and Assistant Dir in preparation of Junior National Team Program, including minicamps, training camps and competitions (USA Basketball).

IndyCar is looking for a Sponsorship Sales Exec. The Indianapolis-based position is responsible for driving new revenue opportunities across the NTT IndyCar Series and the Indianapolis Motor Speedway through proactive prospecting, relationship development and strategic sales efforts (IndyCar).

Zuffa Boxing is looking for a Social Media Coordinator. The Las Vegas-based position is responsible for managing day-to-day posting, crafting compelling content and driving key brand initiatives across our social platforms (Zuffa Boxing).

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“Amelia Earhart was among the guests at a 25th anniversary ceremony held December 17, 1928 in this state.”