Sports
‘Gigantic Pool’ of Cash Awaits Teams in Dawn of Legal Betting
- Fan engagement, advertising, media and data rights fees rise
- Leonsis: ‘A gigantic pool of revenue moves into the sunshine’
Photographer: Scott Eells/Bloomberg
Professional sports team owners, already some of the richest people in the U.S., are about to get richer.
The Supreme Court officially ruled against the major leagues and college sports yesterday in their decision to strike down the federal prohibition against sports gambling. But the ruling is likely to enrich every part of the sports economy, including team valuations, media rights fees, ticket sales and advertising revenue.