All times are EST unless otherwise noted. Odds/lines subject to change. T&Cs apply. See draftkings.com/ for details.
Alex Rodriguez and business partner Marc Lore are investing in Mojo, an app serving as a “stock market” for professional athletes through which fans can buy and sell players at values based on performance.
With the help of a $75 million funding round led by Thrive Capital, Mojo is expected to debut with its first sport — football — by the end of the year. Tiger Global Management also participated in the round.
Rodriguez and Lore, who purchased a 20% stake in the NBA’s Minnesota Timberwolves and the WNBA’s Minnesota Lynx for $1.5 billion last April, will not be involved in the day-to-day operations of the company.
Mojo CEO and co-founder Vinit Bharara said the company is still making arrangements with sports leagues, gaming commissions, and regulators.
“I’ve always thought the idea of a sports stock market was the holy grail — the vision could transform sports, and fandom as a whole,” Lore said.
He previously worked with Bharara on a sports trading market called ThePit, but sold it to Topps for $5.7 million in 2001. Bharara highlighted that with new gaming laws and legalization, they “can do it the way it was supposed to be done.”
Every year, countless players travel abroad to secure paychecks often double those of top WNBA salaries.
Kyrie Irving recorded the most efficient 50-point game in NBA history. But he’s only eligible to play in five more games as the Nets fight for a playoff berth.
Lewandowski’s 23-minute hat-trick was the fastest to start a match in Champions League history. He could lead Bayern back to the UCL Final.
The Broncos reshaped the AFC West landscape, agreeing to a massive trade with the Seahawks for Russell Wilson. With a defense that ranked third in points (18.9) and eighth in yards (326.1), a Super Bowl champ like Wilson could be all the team needs.
Copyright © 2022 Front Office Sports. All rights reserved.
80 Pine Street Suite 3202 New York, NY 10005
source