Finance

Sportradar CEO Carsten Koerl on Thursday posted a statement on LinkedIn defending the company from reports of illegal betting allegations that led to a drop in its stock. Koerl said he takes the accusations “as a personal attack” while adding it is “alarming to see so many false, misleading and defa...

Churchill Downs Inc. said that it “would like to help build the second jewel of the Triple Crown” as it is buying into the Preakness Stakes through an intellectual property purchase, according to Frank Angst of BLOODHORSE. Churchill Downs CEO Bill Carstanjen said that they will “work with the [Maryl...

Nike on Thursday said it will “lay off 1,400 workers, mostly technology workers in its operations division, as part of its ongoing turnaround effort.” This is the “fourth consecutive year of significant layoffs at Nike.” The layoffs will “impact workers at the company’s Air manufacturing facilities,...

Comcast’s media unit “swung to a loss” of $436M in Q1 compared to a profit of $107M a year ago, though revenue grew 60.8% to $7.3B -- boosted by Super Bowl LX, the Milan Cortina Games and the NBA All-Star Game, according to Lucas Manfredi of THE WRAP. Weighing the unit down were “higher programming ...

L Catterton, the private equity firm backed by LVMH, is launching a $500M fund with athletes, including Rockets F Kevin Durant, Angels OF Mike Trout and golfer Patrick Cantlay, “targeting investments in consumer companies,” according to Fontanella-Khan & Agini of the FINANCIAL TIMES. The fund is...

Rogers Communications execs said they “expect to complete” the purchase of the remaining 25% minority interest in Maple Leaf Sports & Entertainment “in the second half of this year, followed by plans for the recapitalization of the combined sports and media group in late 2026 or early 2027 throu...

Ahead of the 152nd Kentucky Derby on May 2, Churchill Downs Inc. reported “record first quarter revenue” -- raking in $663M, an increase of $20M from the same quarter in 2025. The record-setting increase is “largely attributed to increased success of the Historical Racing Machines venues” the compan...

Churchill Downs has entered into a “definitive agreement” to acquire the Preakness Stakes and Black-Eyed Susan Stakes from 1/ST Maryland LLC for $85M, according to Frakes, Gregory & Glowicki of the Louisville COURIER JOURNAL. The deal is expected to close after the running of the 2026 Preakness ...

PressBox, an artificial intelligence startup that automates the production of digital content for sports leagues and media companies, has raised a $2M seed round led by Relay Ventures. Capital Eleven, Pax Holdings (owner/operator of The Sporting News) and Alumni Ventures also participated. Individua...

With the Padres on the verge of an MLB-record $3.9B sale, at least one industry insider wondered if a franchise 90 minutes north of San Diego could be next to hit the market.