On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, including the NWSL’s partnership with crypto lender Voyager Digital.
Announced last year, the deal included cash for the league, and funded accounts for NWSL players, but Voyager entered bankruptcy last month before those accounts could be funded. The NWSL recently sent a letter to its players telling them it was unclear when—or if—they would ever see that money. The league also said it would consider sharing some of the cash it received in the first year of the deal before Voyager entered Chapter 11.
Crypto companies have committed to spending billions in sports over the past year. With many cryptocurrencies in decline, and the bankruptcy of a few prominent lenders/trading platforms, there’s new uncertainty around many of those deals.
The hosts also talked about two big pieces of NFL news last week. First, the league is appealing Deshaun Watson’s six-game suspension, the first major test of the league’s new disciplinary system. Meanwhile, the NFL fined Miami Dolphins owner Stephen Ross $1.5 million and took away a first-round draft pick after an investigation found the team had illegal contact with Tom Brady, but no evidence that it bribed a coach to lose games.
Finally, the two discussed the XFL retaining PJT Partners to explore a potential capital raise in advance of its debut season next year.
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