Chris Smith

Los Angeles

Staff Writer at Sports Business Journal

Sports finance for @SBJ; formerly @Forbes.

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Articles

Sportswear, betting companies bounce back after Trump announces 90-day pause

2 weeks ago | sportsbusinessjournal.com | Chris Smith

Just one week after announcing wide-ranging tariffs, the White House today reversed course, indicating nearly all foreign nations would face a universal 10% tariff for 90 days while negotiations continue. The tariff relief does not apply to China, which is now facing a 125% rate. Equity markets rallied in response, logging the best single-day performance in nearly two decades.
X Games hires Cohen, Senglaub as top financial executives

2 weeks ago | sportsbusinessjournal.com | Chris Smith

The X Games has hired a pair of new executives, adding CHERIE COHEN as Chief Revenue Officer and KEITH SENGLAUB as Chief Financial Officer. Cohen joins from nearly six years as the global chief revenue officer for the World Surf League. She previously held sales roles with NBCUniversal and ESPN. Senglaub is a longtime financial executive who most recently served as a consultant with J. Galt Consulting Partners and CTH Advisors.
Silver Lake completes acquisition of Endeavor, forms WME Group

1 month ago | bizjournals.com | Chris Smith

Endeavor’s stretch as a public company has officially come to an end after nearly four years. Endeavor’s stretch as a public company has officially come to an end after nearly four years. The company announced on Monday morning that Silver Lake and its partners have acquired 100% of Endeavor’s outstanding shares, not including rolled interests. Shareholders will be paid $27.50 per share, as originally announced last April. The company’s shares will no longer be listed on the New York Stock Exchange.
EDGE Markets launches banking platform for gamblers with $17M seed round

1 month ago | sportsbusinessjournal.com | Chris Smith

Sports betting financial firm EDGE Markets has publicly launched banking platform EDGE Boost on the back of a newly announced $17.2M seed funding round. EDGE Boost offers betting-specific bank accounts and debit cards, which have been used to process $300M in transactions since quietly going live three months ago. The products are intended to provide bettors a financial management platform that’s independent from both sportsbooks and their own everyday finances.
Silver Lake completes acquisition of Endeavor, forms WME Group

1 month ago | sportsbusinessjournal.com | Chris Smith

Endeavor’s stretch as a public company has officially come to an end after nearly four years. The company announced on Monday morning that Silver Lake and its partners have acquired 100% of Endeavor’s outstanding shares, not including rolled interests. Shareholders will be paid $27.50 per share, as originally announced last April. The company’s shares will no longer be listed on the New York Stock Exchange.
Monumental hires Starbucks' AJ Jones II to lead strategy and communications

1 month ago | sportsbusinessjournal.com | Chris Smith

Monumental Sports & Entertainment has hired AJ Jones II as EVP and chief strategic and corporate communications officer, overseeing MSE’s communications and investor relations strategies, among other functions. Jones will report directly to MSE founder, chair and CEO Ted Leonsis. Jones joins MSE after more than three years in various public affairs roles for Starbucks, most recently holding the titles of EVP and chief corporate affairs officer.
Looking at key growth trends, future of soccer

1 month ago | sportsbusinessjournal.com | Chris Smith

On Wednesday, some of the top power brokers in soccer went deep on investment trends in the sport to wrap up day one of SBJ’s The Business of Soccer event presented by Concacaf and MLS. The sport’s explosive growth in the U.S. was a key focus. Ares Management co-founder Bennett Rosenthal is the lead managing owner of LAFC, and he explained how the club has blown away its early financial expectations, driven partly by a sponsorship portfolio that now generates some $50M annually.
Jomboy Media elevates Courtney Hirsch to CEO

1 month ago | sportsbusinessjournal.com | Chris Smith

Digital sports media firm Jomboy Media has promoted COURTNEY HIRSCH to fill the company’s vacant CEO position. Hirsch has been with Jomboy since late 2020 and has served as its COO for the last two years. Hirsch has overseen commercial sales for Jomboy, including longtime relationships with DraftKings and SeatGeek, as well as recent deals with T-Mobile, Corona and Best Western. Her brother, JIMMY O’BRIEN, co-founded Jomboy in 2017 alongside JAKE STORIALE.
Private equity firms are consolidating the fragmented youth sports spaces through M&A, while revenue estimates range from $20 billiont to $40 billion annually.

1 month ago | sportsbusinessjournal.com | Chris Smith

The NFL has been trying to make flag football work since 1994. Three decades later, no sport is hotter. That couldn’t be clearer last July, when the league and its operating partners put on the NFL Flag Championships at the Hall of Fame Village in Canton, Ohio. The youth event drew nearly 3,000 participants and aired more than 30 hours of coverage across ESPN platforms. ESPN wasn’t the only bold-faced name attached to the championship weekend.
Aaron Rodgers’ RX3 to host fourth annual charity flag football tournament

1 month ago | sportsbusinessjournal.com | Chris Smith

On Saturday, athlete-backed investment firm RX3 Growth Partners will host its annual charity flag football tournament at Orange County’s Saddleback College, about a 10-minute drive from RX3’s HQ in San Juan Capistrano. Participants will include Aaron Rodgers, who co-founded RX3 in 2019, and fellow NFL QBs Josh Allen, Bryce Young, Sam Darnold, Joe Flacco, Daniel Jones and Marcus Mariota, among others.