Kelce brothers podcast, private-equity vote: Latest in the NFL
NFL stars and brothers Travis and Jason Kelce have signed a reported $100 million deal with Amazon (AMZN) for their podcast New Heights. Meanwhile, the league is expected to vote on whether private equity firms can buy into franchises. Mintz Levin Sports Entertainment Practice Chair Steven Olenick joins Market Domination Overtime to break down the news. "A lot of these athletes bring out their personality, build businesses around them to cultivate media properties, content. What does everyone want right now? They want great content. Why? Because it could potentially bring in viewers. And what do you think you can do off that? You can sell things within that content," Olenick says of the Kelce brothers' latest business move. "So I think what they're doing here is doing almost like a test case right here to try to build it out." As for whether private equity firms can buy into teams, Olenick believes the vote will pass, explaining: "I think it's a done deal. I think you have people waiting right now. And I think you have owners ready to take that money." He notes that if the vote passes, owners will be able to take liquidity and reinvest in succession planning so they do not have to be hit with a big tax bill. "This private equity money is going to allow them to sell up to 10%. So you're going to see some of these owners and a lot of these families take the money and use it for infrastructure, stadium, practice facilities. You're going to try to potentially find new revenue streams for fan engagement." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Melanie Riehl
