Welcome back to the Spotlight, and with it (in like a lion…) the college basketball-dominated month of March. And wow, in case it was not on your radar, madam, allow me to fulfill my civic duty to level with you and refer you to the fact that today’s date (3/2/23) is a palindrome—a mirror-image sequence that reads the same backwards and forwards. Bonus points if you caught all of them in that sentence. With that backdrop, as good a place as any at which to start is with two young women of college basketball who are mirror images of one another: The Cavinder Twins. Haley and Hanna (almost a palindrome) Cavinder are two of the most recognized names in the NIL era, leveraging their star power and social media following to command multiple six figure endorsement deals at Fresno State University and more recently at the University of Miami. So, that is perhaps why late last week the NCAA made its very first NIL era enforcement action with regard to conduct surrounding the Cavinders and the apparent inducements given to them to become Miami Hurricanes. In doing so, the NCAA appears to this writer and to many other observers to be taking a shot across the bow to universities and their boosters (i.e., affiliated alumni who support the school’s athletic programs) alike, notwithstanding the relatively light penalties (a three game suspension for the Cavinders’ coach, a fine and a limited restriction on recruitment activities), but it stopped short of dissociating the billionaire booster from the University. However, as much as the move seemed calculated to send a message to take another look in the mirror before acting, it also seemed to signal self-restraint out of fear of being embroiled in a politically and financially costly antitrust litigation. Speaking of politics, the NCAA’s best chance of again wielding decisive enforcement power lies with comprehensive federal legislation from the house of mirrors that is the US Congress. So the question remains: unless/until that happens, is the NCAA’s use of the Cavinders’ recruitment a high profile bluff or a prelude to its dropping the hammer on the next booster looking to lure an athlete with a spotlight?
- Music copyrights still appear to be an attractive investment for private equity markets, as Lyric Capital closes a fund with $800 million in commitments. Meaning, it’s still not too late for me to begin writing music. On the other hand, singing is out of the question.
- Undoubtedly fueled by the success of the Netflix docuseries, Formula 1, Formula One racing enjoyed record fan attendance last year. Fan engagement that brings people from their living room to the stands seems to be a formula won.
- Adidas renewed its partnership with Major League Soccer to outfit its players for the 2023 Season, narrowly averting the prospect of barefooted, shirts and skins soccer matches.
Endorsement Sponsorship and Investments
March 1, 2023 via International Business Times - Top Stories
March 1, 2023 via UNI Athletics
February 28, 2023 via Benzinga.com
February 24, 2023 via SI
March 1, 2023 via Autosport
March 1, 2023 via ESPN - News
March 1, 2023 via Silver Screen and Roll
March 1, 2023 via RSN
February 28, 2023 via Yahoo Finance - Top Stories
February 28, 2023 via Business Wire - Top Stories
February 28, 2023 via Music Business Worldwide
February 27, 2023 via Fortune Magazine - Headlines
Film & TV
March 1, 2023 via Biz Journal - Agriculture News
March 1, 2023 via Variety
March 1, 2023 via mxdwn
February 27, 2023 via Music Business Worldwide
March 1, 2023 via NCAA.org
March 1, 2023 via Navy Sports
February 28, 2023 via Manassas Journal Messenger News
The Sports, Arts & Entertainment group at Foster Garvey provides full service legal representation on sports, entertainment and business matters, including handling transactions related to brand management, licensing, joint ventures, venture capital, private equity, technology, the Internet and new media.