On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, including Coca-Cola’s decision to buy the remainder of sports drink maker BodyArmor. The deal values BodyArmor at $8 billion, and will produce a hefty payoff for the many athletes that have invested over the past decade.
That starts with the late Kobe Bryant, who bought 10% of the company back in 2014 for $6 million, and whose estate will see $400 million as a result of this week’s deal. Other athletes with BodyArmor equity include Mike Trout, Rob Gronkowski, Mookie Betts, Naomi Osaka and James Harden.
The hosts also discuss New York Mets owner Steve Cohen, who is in talks with Las Vegas Sands about a potential casino next to Citi Field. New York State is in the early stages of discussing potential casino licenses in the New York City area, and the neighborhood around the stadium in Queens has long been considered in need of new development. Through a Mets spokesman, Cohen called the area “a mess” and said he’d like to play a role in its revival.
The hosts close by chatting about two other stories—a new Saudi-backed pro golf circuit, and the ongoing legal fight over the Cleveland Guardians name, which the city’s MLB team is planning to adopt next season.