Tag: money

Florida State’s $430 Million Debt Could Complicate Mike Norvell’s Future as Coaching Pressure Mounts

Brandon King

Florida State football is facing a costly decision as mounting pressure on Mike Norvell collides with the university’s significant athletic department debt. Florida State University has a major financial challenge on its hands, and it could complicate the future of head football coach Mike Norvell. According to reporting from ESPN, Florida State’s athletic department carries more than $430 million in debt, much of it tied to athletic facilities. That financial burden could make it difficult for the Seminoles to take on additional debt to fund a potential coaching change. The…

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Brandon Clarke’s Estate Will Receive Full $12.5 Million Remaining on NBA Contract

Brandon King

The family of late Memphis Grizzlies forward Brandon Clarke will receive the full $12.5 million remaining on his NBA contract through a life insurance policy, according to Kevin O’Connor. The update corrects an earlier report that incorrectly claimed Clarke’s estate would not receive the remaining money after his passing. Clarke’s contract was fully protected, with a life insurance policy ensuring his family receives the full value of the deal. Clarke’s agent, Mark Bartelstein, pushed back against the inaccurate report, saying it created unnecessary confusion during an already difficult time for…

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Rise in online sales amidst pandemic fuels Nike shares to rise and boosts annual revenue outlook

Brandon King

From Lauren Thomas of CNBC: Nike on Friday reported quarterly sales and earnings that topped analysts’ estimates, driven by triple-digit growth online in North America and strong demand for its sneakers and workout apparel from Chinese consumers. It was able to cut expenses as it spent less on marketing during sporting events due to the pandemic. The lower costs boosted profitability. Strong sales during Alibaba‘s Single’s Day in China, and Black Friday in the U.S., also helped it barrel into the holidays with tighter inventories, reducing the need for discounting. “These are…

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James Harden offered massive contract with adidas

Brandon King

Houston Rockets’ all-star guard James Harden is square in Adidas’ crosshairs. The brand has reportedly offered Harden a 13 year deal worth $200 million in a major effort to pry him away from Nike. Harden’s deal with Nike expired recently and the brand has until the end of next week to match Adidas’ offer. Adidas spokesman Michael Ehrlich had this to say in s statement: “We’ve invited James Harden to join Adidas. We’re a brand of creators and he truly embodies what that means with his approach to the game,his…

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