Sports & Entertainment Beat

Welcome back to the Spotlight! We find ourselves at an interesting moment where, on the one hand, tech companies are laying off tens of thousands of workers apiece in the face of economic headwinds, Elon Musk claims from Guinness World Records the dubious honor of having lost the largest personal fortune in history ($182 billion, bringing his total net worth to a “paltry” $147 billion) and the price of eggs would make a golden goose blush. On the other hand, the sports and entertainment world seems to be suffering from no such ill effects as large sums of capital continue to be invested into various entities without much sign of slowing down (and that’s to say nothing of professional athletes’ salaries). Kansas City Chiefs quarterback Patrick Mahomes seems to have decided that “owning” the NFL is not enough, instead he owns equity in major Kansas City sports teams such as the MLS’ Sporting Kansas City, MLB’s Kansas City Royals and most recently the NWSL’s Kansas City Current.  Safe to say he’s not in any financial Missouri. World Wrestling Entertainment Chairman of the Board Vince McMahon is said to be considering a real $8 billion sale of the professional fake wrestling league to Saudi interests. And with 95 of the top 100 highest rated events in 2022 being sports, there’s little doubt that sports and entertainment will remain a bright spot in a down economy—almost like a spotlight. 

• • Just nine days removed from suffering cardiac arrest on an NFL field, Buffalo Bills safety Damar Hamlin has happily been discharged from the hospital. As he continues to recover, he’s also got business in mind, filing for two trademarks, “DID WE WIN” and “THREE IS BACK,” to pay homage to his first words in the hospital, while hinting at a triumphant return to the gridiron. 
  • An investor group that includes Cincinnati Bengals Quarterback Joe Burrow and Boston Celtics Forward Blake Griffin purchased a 128 acre plot of farmland in rural Iowa. But to Ray Kinsella’s chagrin, this appears to be a bonafide agriculture investment. 
  • More celebrity endorsements and investments in the cannabis industry paired with many states’ legalization of marijuana, mean that perhaps it’s high time that the plant formerly seen as taboo make its way into the mainstream.