Red Bull, Adidas And The 76ers: This Week's Most Interesting Sports Business Stories – Forbes

BARCELONA, SPAIN – MAY 9: Dietrich Mateschitz CEO of RedBull attends the Formula One preseason tests on May 9, 2017 in Barcelona, Spain. (Photo by Joan Cros Garcia/Corbis via Getty Images)
In this week’s SportsMoney Playbook: the Yankees’ new billionaires, a Formula 1 owner’s $20 billion legacy and IndyCar’s 16-year-old driver. Plus: A furniture salesman could win $75 million on the Astros.
At the time of his death 12 years ago, Yankees owner George Steinbrenner was worth $1.1 billion. Now, his three surviving children are each worth $1.3 billion or more, according to Forbes estimates.
Jim McIngvale, the furniture salesman better known as Mattress Mack, has about $10 million riding on the Astros to win the World Series, with a chance to win $75 million. He tells us how he got started placing outrageous sports bets.
Real estate investor David Adelman is buying the majority of Michael Rubin‘s 10% stake in Harris Blitzer Sports and Entertainment, owner of the 76ers and the NHL‘s Devils.
Manchester City is among the English women’s soccer teams that will stop wearing white shorts during games next season as female players voice their discomfort about wearing them while they are menstruating.
As Ye, the rapper and fashion designer previously known as Kanye West, made antisemitic comments, wore clothing mocking the Black Lives Matter movement and used social media to harass his ex-wife, his Yeezy sneakers continued to fly off shelves. That changed Tuesday when Adidas announced it was cutting ties with Ye, immediately knocking him out of the billionaire ranks. The move will also mean a significant haircut for the shoemaker, which quickly initiated a hiring freeze. Sneaker resellers, on the other hand, see dollar signs in the split.
Lakers owner Jeanie Buss and Titans owner Amy Adams Strunk are among the honorees on Forbes’ new 50 Over 50 list, recognizing the women redefining what’s possible in life’s second half.
Billie Jean King and Dawn Staley spoke to us about why they continue to press for racial and gender equality in sports.
Auto Racing: Portrait of driver Josh Pierson posing with tires during photo shoot at Buttonwillow Raceway Park. Equipment. Buttonwillow, CA 12/6/2021 CREDIT: Kohjiro Kinno (Photo by Kohjiro Kinno/Sports Illustrated via Getty Images)
Josh Pierson, the youngest driver ever to compete in the 24 Hours of Le Mans, is leaving behind sports cars to race in the Indy Lights division next season. Read more on a driver who began racing at just 2 years old.
Nascar’s Kyle Busch And Kyle Larson And Their Quest To Race In The Indianapolis 500
McLaren’s Zak Brown Believes IndyCar Has A Bright Future And Can Co-Exist With F1
ESPN Agrees To Multi-Year Extension With Formula 1, Including Streaming Rights
Valtteri Bottas Is Thriving In A Leadership Role With F1’s Alfa Romeo
Formula 1 CEO Stefano Domenicali Talks Staying In Austin Long Term
The More Nascar Changes, The More Martinsville Speedway Stays The Same
Red Bull cofounder Dietrich Mateschitz has died at age 78, leaving behind a $20.2 billion fortune. As the head of a Formula 1 team and a couple of soccer clubs, he consistently ranked among the world’s richest sports team owners, landing at No. 4 on our list this year. We profiled the marketing genius in a magazine article back in 2005; read more about the rise of his empire.
Congaree is an exclusive private golf club in South Carolina, but its emphasis on philanthropy led it to acquire the lone public course in the state’s poorest county, rehabilitating a site that had been on the verge of becoming a trailer park. Read more on Sergeant Jasper Golf Club’s transformation from Congaree’s director of golf, Tom Craft.


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