Jock Pay Advance Deals Test Hedging Skills of Investors, Athletes and Agents
Fernando Tatis Jr., is going to be a very wealthy man after officially signing a 14-year, $340 million contract extension with the San Diego Padres on Monday. But he’s…
loans
Banks Waiving, Amending Covenants so Team Owners Can Remain in Compliance with Loans
Team owners across the sports ecosystem borrow money to fund the purchase of clubs, cover operational expenses and build new venues. The bank loans or private placements…
Exclusive
Illinois Athletics Borrows $32.5 Million From University for Basketball Renovation
The University of Illinois’s athletics department has borrowed $32.5 million from the university system to renovate its basketball practice facility. The loan, issued in…
Exclusive
Texas Tech Red Raiders Borrow Over $1 Million From University System
As college football sputters its way through this unusual 2020 season, schools are confronting heavy revenue shortfalls. Athletic departments across the country are…
Cancelling Football Would Leave Athletic Departments With Shortfall That Should Reach University Level
Should the Big Ten ultimately decide to cancel the fall sports schedule, the members’ athletic departments would be left with a significant deficit to cover. Penn State…
Sports Groups Received as Much as $2 Billion in PPP Funds
The sports business—from athletic conferences to teams to player marketing arms—may have received as much as $2.1 billion in government loans through the Payroll…
Mets Seek to Push Back $250 Million Loan by One Year Amid Sale Process (EXCLUSIVE)
The New York Mets are seeking to extend their existing credit facilities for one year, giving the team’s owners a cushion while they seek a buyer amid a pandemic, two…
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