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DraftKings the Exception to Sports SPAC’s Dire Track Record

DraftKings, the company that sparked the sports SPAC craze in 2020, still stands as the best of the blank-check sports deals. The result for some 200 other sports-related special purpose acquisition companies is largely failure, as last week’s decision by football theme-park operator Hall of Fame Resort and Entertainment’s decision to sell itself for pennies […]

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DraftKings, the company that sparked the sports SPAC craze in 2020, still stands as the best of the blank-check sports deals. The result for some 200 other sports-related special purpose acquisition companies is largely failure, as last week’s decision by football theme-park operator Hall of Fame Resort and Entertainment’s decision to sell itself for pennies on the dollar demonstrates.

If you buried your memories of SPACs along with your COVID-19 face masks, here’s a refresher: SPACs are so-called blank check businesses that raise money at an IPO with the stated intent of finding another business to merge with, taking it public. DraftKings wasn’t the first sports-related SPAC—Hank Aaron helped lead an unsuccessful one to buy a sports franchise in the 2007—but it easily was the most successful. Its April 2020 emergence as a publicly traded company was an unexpected and resounding success: Six months after debuting, DraftKings stock had run up more than 600% from its initial price.

Whether you consider SPACs part of the meme stock madness of the pandemic or just another cyclical market mania, DraftKings’ success nevertheless helped the sector boom: During 2020 and 2021, some 466 SPACs held IPOs, according to data from the University of Florida’s Jay Ritter, who tracks IPOs. Hundreds more registered to come public during that time. Sports, driven by DraftKings’ success, was at the forefront: 184 sports-related SPACs were formed after DraftKings’ stock market debut.

Sports SPACs, broadly defined, are entities seeking to merge with a sports business, such as a team or sports tech, or one that has the management or advisory participation of an athlete, team owner or sports executive. The names involved could form the basis of a dominant starting five: NBA veterans Shaquille O’Neal, Kevin Durant, Shane Battier and Baron Davis all were part of a SPAC. Or if baseball is your thing, anchor your lineup with Alex Rodriguez, Dave Winfield and Justin Verlander. Quarterbacks were particularly popular participants in SPACs: Roger Staubach, Eli Manning, Steve Young, Patrick Mahomes, Oliver Luck and Colin Kaepernick had theirs too. More common were the presence of team owners, leaning on their business background: Jon Ledecky, Todd Boehly, Vivek Ranadivé and Tilman Fertitta were among the dozens of owners in SPACs. One of the vehicle’s biggest (or notorious, depending on your view) cheerleaders during the boom was Chamath Palihapitiya, who was a minority owner of the Golden State Warriors.

Despite all that talent, sports SPACs were mostly flops. Of 200 sports SPACs Sportico identified as being formed since 2005, just 70 ever completed a merger while another 70 couldn’t close a merger after having their IPO—by rule they dissolved and returned their capital back to shareholders. Another 51 never got to hold their IPO: Most formed during the height of the SPAC craze and got stuck when the bubble burst. Nine sports SPACs continue to persist, having received shareholder approved extensions to locate or close deals. Among them, the A-Rod-led Slam Corp., which raised $500 million in 2021 to seek a sports or media business. It’s now trying to close a merger with satellite phone company it’s had in the works for 18 months now.

It’s probably unfair to hang sports SPAC failures solely at the feet of their participants: after all, the state of the overall market is a tide that’s hard to swim against. After a run of spectacular implosions of SPAC deals, like EV maker Lordstown Motors and WeWork, both of which went into bankruptcy, investor appetite dried up for even quality SPAC mergers.

But the decision by Hall of Fame Resort last week to accept a 90-cents per share take-private offer shines light on just how bad sports SPACs deals have been overall. Hall of Fame, which seeks to popularize a football real estate and entertainment development at the Pro Football Hall of Fame in Canton, Ohio, is one of 23 sports SPACs that now trade under $1 a share. Vegas Knights owner Bill Foley took internet ad platform System1 public with a SPAC, it’s now at 51 cents. Islanders co-owner Jon Ledecky’s deal for data software KLD Discovery now trades at two cents. Two of Palihapitiya’s are also penny stocks. Others trade at fractions of a penny after being delisted by their stock exchange.

Another 10 sports SPACs are total losses for investors, having gone belly up or been sold for losses over 99% from their $10 merger price, the typical SPAC share valuation. Seven SPAC deals trade below $10, but at less than a 50% loss, our arbitrary cutoff. They include Betway parent Super Group, bowling alley and PBA Tour owner Lucky Strike Entertainment and theme park developer Falcon’s Beyond. Most of the balance trade between $1 and $5.

In fact, only eight sports SPACs can be considered successes, meaning shareholders received or sit on a profit, according to data compiled by Sportico. Three were acquired at a premium, including Fertitta’s Golden Nugget Online Gaming, which DraftKings acquired for a stock swap, now worth $14 today. Another is bad credit lender OppFi, taken public through a Joe Moglia SPAC, while a third is cruise ship line Lindblad Expeditions, taken public by tennis executive Mark Ein. Betting related Rush Street Interactive and Genius Sports are two more. Still, the share prices of those seven have spent significant time underwater at some point since going public. By comparison, DraftKings stock spent a few minutes trading below $10 one single day three years ago. Having closed trading Monday at $37.93, SPAC investors sit on a 279% profit.

Last year, 72 SPACs had an IPO, according to Ritter. None of those were sports related. Despite hundreds of SPACs formed and billions of dollars raised, DraftKings remains the best of the sports SPACs. That likely means it’s also the last.



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Meta becomes the latest big tech company turning to nuclear power for AI needs

WASHINGTON — Meta has cut a 20-year deal to secure nuclear power to help meet surging demand for artificial intelligence and other computing needs at Facebook’s parent company. The investment with Meta will also expand the output of a Constellation Energy Illinois nuclear plant. The agreement announced Tuesday is just the latest in a string […]

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WASHINGTON — Meta has cut a 20-year deal to secure nuclear power to help meet surging demand for artificial intelligence and other computing needs at Facebook’s parent company.

The investment with Meta will also expand the output of a Constellation Energy Illinois nuclear plant.

The agreement announced Tuesday is just the latest in a string of tech-nuclear partnerships as the use of AI expands. Financial details of the agreement were not disclosed.

Constellation’s Clinton Clean Energy Center was actually slated to close in 2017 after years of financial losses but was saved by legislation in Illinois establishing a zero-emission credit program to support the plant into 2027. The agreement deal takes effect in June of 2027, when the state’s taxpayer funded zero-emission credit program expires.

With the arrival of Meta, Clinton’s clean energy output will expand by 30 megawatts, preserve 1,100 local jobs and bring in $13.5 million in annual tax revenue, according to the companies. The plant currently powers the equivalent of about 800,000 U.S. homes.

“Securing clean, reliable energy is necessary to continue advancing our AI ambitions,” said Urvi Parekh, Meta’s head of global energy.

Surging investments in small nuclear reactors comes at a time when large tech companies are facing two major demands: a need to increase their energy supply for AI and data centers, among other needs, while also trying to meet their long-term goals to significantly cut greenhouse gas emissions.

Constellation, the owner of the shuttered Three Mile Island nuclear power plant, said in September that it planned to restart the reactor so tech giant Microsoft could secure power to supply its data centers. Three Mile Island, located on the Susquehanna River just outside Harrisburg, Pennsylvania, was the site of the nation’s worst commercial nuclear power accident in 1979.

Also last fall, Amazon said it was investing in small nuclear reactors, two days after a similar announcement by Google.
Additionally, Google announced last month that it was investing in three advanced nuclear energy projects with Elementl Power.
U.S. states have been positioning themselves to meet the tech industry’s power needs as policymakers consider expanding subsidies and gutting regulatory obstacles.

Last year, 25 states passed legislation to support advanced nuclear energy, and lawmakers this year have introduced over 200 bills supportive of nuclear energy, according to the trade association Nuclear Energy Institute.

Advanced reactor designs from competing firms are filling up the federal government’s regulatory pipeline as the industry touts them as a reliable, climate-friendly way to meet electricity demands from tech giants desperate to power their fast-growing artificial intelligence platforms.

Still, it’s unlikely the U.S. could quadruple its nuclear production within the next 25 years, like the White House wants. The United States lacks any next-generation reactors operating commercially and only two new large reactors have been built from scratch in nearly 50 years. Those two reactors, at a nuclear plant in Georgia, were completed years late and at least $17 billion over budget.

Amazon, Google and Microsoft also have been investing in solar and wind technologies, which make electricity without producing greenhouse gas emissions.

Shares of Constellation Energy Corp., based in Baltimore, were flat Tuesday.

Quality, in-depth journalism is essential to a healthy community. The Dispatch brings you the most complete reporting and insightful commentary in the Golden Triangle, but we need your help to continue our efforts. In the past week, our reporters have posted 45 articles to cdispatch.com. Please consider subscribing to our website for only $2.30 per week to help support local journalism and our community.



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CertiCon, an HTEC Company, Honored With Supplier Award 2024 by Frequentis for Outstanding Performance and Sustainability – NORTHEAST

HTEC Group Inc. is a global AI-first provider of strategic, software and hardware embedded design and engineering services, specializing in Advanced Technologies, Financial Services, MedTech, Automotive, Telco, and Enterprise Software & Platforms. HTEC has a proven track record of helping Fortune 500 and hyper-growth companies solve complex engineering challenges, drive efficiency, reduce risks, and accelerate […]

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HTEC Group Inc. is a global AI-first provider of strategic, software and hardware embedded design and engineering services, specializing in Advanced Technologies, Financial Services, MedTech, Automotive, Telco, and Enterprise Software & Platforms. HTEC has a proven track record of helping Fortune 500 and hyper-growth companies solve complex engineering challenges, drive efficiency, reduce risks, and accelerate time to market. HTEC prides itself on attracting top talent and has strategically chosen the locations of its 20+ excellence centers to enable this.



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Study examines how well wearable tech tracks fitness metrics

image:  Many people use wearable devices, such as Apple Watches, to track their fitness goals, but a UM study finds that the devices are better at tracking some types of data than others. The researchers advise that the devices provide helpful information to help track goals, but users should not rely on the data as […]

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Many people use wearable devices, such as Apple Watches, to track their fitness goals, but a UM study finds that the devices are better at tracking some types of data than others. The researchers advise that the devices provide helpful information to help track goals, but users should not rely on the data as totally accurate.


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Credit: Graphic by Jordan Thweatt/University Marketing and Communications

OXFORD, Miss. – Many Americans rely on their Apple Watches or similar devices each day to count their steps, track workouts, and measure how many calories they burn. But are those wearable devices accurate?

University of Mississippi professor Minsoo Kang and doctoral student Ju-Pil Choe are working to answer that question.

Kang, a professor of sport analytics, and Choe reviewed 56 studies that compared the Apple Watch to trusted reference tools in measuring energy burned, heart rate and step counts.

Data from the National Institutes of Health shows that wearable technology has become increasingly popular across all types of users, from elite athletes to the general population, whether active or sedentary. As early as 2015, about 1 in 8 Americans reported using a wearable activity monitor. By 2019, wearable tech had become the top fitness trend, and the market continues to expand.

“If people are using them to make decisions about their workouts or even medical conditions, the data should be accurate,” Choe said. “If the numbers are off, it could lead to confusion, overtraining or even miss health warnings.”

The Ole Miss researchers conducted a meta-analysis to evaluate how the device’s accuracy varied by age, health status, Apple Watch version and type of physical activity.

The findings showed that Apple Watches are generally accurate when measuring heart rate and step counts. The researchers reported mean absolute percent errors, a standard measure of accuracy, of 4.43% for heart rate and 8.17% for step counts, while the error for energy expenditure rose to 27.96%.

This inaccuracy was observed across all types of users and activities tested, including walking, running, cycling and mixed-intensity workouts.

This inaccuracy was observed across all types of users and activities tested, including walking, running, cycling and mixed-intensity workouts.

The results indicated that Apple Watches can be a good support tool, such as for tracking basic activity after surgery, but they should not replace clinical tools or medical judgment, Kang said.

“These devices are great for keeping track of habits and staying motivated,” he said. “But do not take every number as 100% truth, especially the calories.

“Think of it as a helpful guide, not a diagnostic tool. It is useful but not perfect.”

The researchers noted that newer models seem to be more accurate.

“While we cannot say every update is a big leap forward, there is a noticeable trend of gradual improvements over time,” Choe said. “It shows that Apple is refining the technology over time.”

Kang said he hopes this study will help consumers make informed choices about buying and using wearable devices and help manufacturers improve the technology people rely on daily.

“By showing where the weaknesses are, we can help developers get real feedback,” he said. “If they know what needs to be fixed, they can design better sensors or algorithms.

“Our findings can guide improvements and help make these devices more useful for both everyday users and health care providers.”


Disclaimer: AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert system.



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Meta turns to nuclear power for AI needs | News, Sports, Jobs

WASHINGTON (AP) — Meta has cut a 20-year deal to secure nuclear power to help meet surging demand for artificial intelligence and other computing needs at Facebook’s parent company. The investment with Meta will also expand the output of a Constellation Energy Illinois nuclear plant. The agreement announced Tuesday is just the latest in a […]

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WASHINGTON (AP) — Meta has cut a 20-year deal to secure nuclear power to help meet surging demand for artificial intelligence and other computing needs at Facebook’s parent company.

The investment with Meta will also expand the output of a Constellation Energy Illinois nuclear plant.

The agreement announced Tuesday is just the latest in a string of tech-nuclear partnerships as the use of AI expands. Financial details of the agreement were not disclosed.

Constellation’s Clinton Clean Energy Center was actually slated to close in 2017 after years of financial losses but was saved by legislation in Illinois establishing a zero-emission credit program to support the plant into 2027. The agreement deal takes effect in June of 2027, when the state’s taxpayer funded zero-emission credit program expires.

With the arrival of Meta, Clinton’s clean energy output will expand by 30 megawatts, preserve 1,100 local jobs and bring in $13.5 million in annual tax revenue, according to the companies. The plant currently powers the equivalent of about 800,000 U.S. homes. George Gross, professor of electrical and computer engineering at the University of Illinois. estimates that 30 additional megawatts would be enough to power a city with about 30,00 residents for one year.

“Securing clean, reliable energy is necessary to continue advancing our AI ambitions,” said Urvi Parekh, Meta’s head of global energy.

Surging investments in small nuclear reactors comes at a time when large tech companies are facing two major demands: a need to increase their energy supply for AI and data centers, among other needs, while also trying to meet their long-term goals to cut greenhouse gas emissions.



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Future of ESPN’s MLB Rights

Morning Edition June 5, 2025 Rob Manfred told reporters, including FOS, that MLB hopes to decide on a new rights partner for rights currently held by ESPN before the All-Star Game. Here’s what we know. —Eric Fisher, David Rumsey, and Colin Salao Mark J. Rebilas-Imgan Images MLB is approaching an endgame on reselling national media […]

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Front Office Sports - The Memo

Morning Edition

June 5, 2025

Rob Manfred told reporters, including FOS, that MLB hopes to decide on a new rights partner for rights currently held by ESPN before the All-Star Game. Here’s what we know.

Eric Fisher, David Rumsey, and Colin Salao



Mark J. Rebilas-Imgan Images

MLB is approaching an endgame on reselling national media rights being abandoned by ESPN after this season, with a decision anticipated before next month’s All-Star Game. 

As team owners meet this week in New York, league commissioner Rob Manfred said discussions are ongoing with three bidders to cover the 2026–28 seasons. Two are known, with NBC potentially returning to baseball to expand its sports hold on Sunday nights, Apple TV+ looking to expand its presence beyond its current Friday night package, and a third suitor that Manfred declined to name. MLB could potentially break the ESPN rights into multiple parts.

“I’m hopeful that in the next few weeks, prior to the All-Star Game, we get something done,” Manfred said. “But when you’re having three different sets of conversations, it’s a lot. Each set of conversations involves a different group of content. We’re talking to three people about different packages.”

The rights deals would be interim ones to bridge to 2028, when MLB’s other national rights deals expire, and when Manfred is looking to repackage the sport’s national and local rights in a more centralized strategy. Because of that shorter time frame, the commissioner said he will look to prioritize reach over gaining maximum dollars. But he also acknowledged that the mutual opt-out with ESPN exercised earlier this year has created something of an awkward situation. 

“We agreed to the opt-out as a set of compromises that got us to the deal we had. We liked the deal we had,” Manfred said of ESPN. “Looking backwards, do I wish I wasn’t in a position to sell three years so we can line our rights up in 2028? The answer to that is yes.”

Next Steps in Tampa?

Manfred said progress is continuing on repairing hurricane-damaged Tropicana Field so the Rays can return there at or near Opening Day in 2026. The team’s long-term future, however, remains decidedly uncertain.

His comments follow the team’s decision in March to walk away from a deal with St. Petersburg, Fla., and Pinellas County to build a $1.3 billion stadium. The Rays are currently playing to sharply decreased and league-low attendance in the Yankees’ spring training facility, George M. Steinbrenner Field.

“The big contingency [for next year] is what happens with the [2025] hurricane season. There’s not much you can do about that besides keep your fingers crossed,” Manfred said. “Long-term, they’re going to honor their lease [at Tropicana Field] through 2028, but I don’t really have anything to add beyond that.”

More Business

In other matters that Manfred addressed:

  • Manfred said there is a “really positive” mood among owners as the league enjoys solid increases in both attendance and national TV viewership so far in the 2025 season. Other factors, such as the continued success of the pitch clock and popular stars such as the Dodgers’ Shohei Ohtani and the Yankees’ Aaron Judge are having significant impacts, too. “The product we’re putting on the field is better than it was five years ago,” Manfred said.
  • There is still no deal for MLB to be part of the 2028 Los Angeles Olympics. But as negotiating progresses with LA28 organizers, parallel talks are also happening with other league business partners. “We have some other partners that we need to talk to about changes that would need to be made to accommodate the Olympics,” Manfred said.
  • The commissioner cited strong buzz among owners about the league’s recent investment in the Athletes Unlimited Softball League. “They think we found a good organization and are excited to get going with that,” he said.
  • Manfred said the sentiments of U.S. President Donald Trump were among many inputs in his recent decision to reinstate the late Pete Rose. 

“I have respect for the office and paid attention to the advice that he gave,” he said. “But I had a lot of other people that we were weighing in on the topic as well.”


Nov 3, 2024; Charlotte, North Carolina, USA; New Orleans Saints quarterback Derek Carr (4) walks off before a game against the Carolina Panthers at Bank of America Stadium.

Almost a month removed from announcing his surprise retirement from the NFL, former Saints and Raiders quarterback Derek Carr is content with his decision to end his playing career—and walk away from another huge paycheck.

“That part was tough because I didn’t want to have surgery and just sit there and—it sounds crazy but—just take the Saints money,” Carr told Front Office Sports.

Carr, 34, retired with roughly $195.7 million in career earnings. With two seasons remaining on the four-year, $150 million contract he signed in 2023, Carr gave up the $30 million salary he was set to earn in 2025, but he kept a $10 million roster bonus that hit in March. 

The four-time Pro Bowler sustained a severe shoulder injury last season that jeopardized his future. “I wouldn’t have been able to play if I had the surgery,” Carr said. “And then if I tried to play with it, I wasn’t near 100%, and so that doesn’t help them, either. I just felt like it was the right thing to do for myself and for the team.”

Carr said the Saints wanted him to try to keep playing, but he couldn’t commit to another season, despite the financial benefit. 

“I never played just for the money,” he said. “I had a whole bunch of people tell me how crazy I was, and ‘Man, I would never have done that.’ That’s all cool, but I’ve gained all these things that the world has to offer, and it doesn’t really do anything for your heart. I knew my heart was at peace, and that’s really all that mattered.”

For more on Derek Carr’s post-retirement ventures and future in media, you can read David Rumsey’s full interview with the former NFL star here.


Trevor Ruszkowski-Imagn Images

The 2025 NBA Finals series between the Thunder and Pacers is one of the most lopsided in history—at least based on the odds.

Oklahoma City is favored somewhere from -650 to -750, depending on the sportsbook, making the matchup one of the 10 most-lopsided NBA Finals, according to Sports Odds History.

Despite the gap—or perhaps because of it—bettors are putting their money on Indiana. 

According to data from DraftKings, 79% of the betting handle, which is the total amount of money wagered, is on the Pacers to upset the Thunder. DraftKings has the Pacers at +500 odds to win the series. The remaining 79% of the handle placed on the series winner belongs to the Thunder at -700, meaning that a bettor would have to place $7 to win $1 back.

DraftKings director of sports operations Johnny Avello tells Front Office Sports that betting trends were similar for previous playoff series, including when the Cavaliers were -425 favorites to beat the Pacers in the second round.

“It’s not that unusual because the bettors are reluctant to lay $7 to win $1,” says Avello.

The same trend can be seen on FanDuel, DraftKings’ biggest competitor, where the Thunder are -750 favorites. The Pacers have 95% of total series bets and 77% of the betting handle.

Most bettors, however, are putting money on OKC to cover the spread in Game 1 (-9), with 57% of the betting handle for Game 1 on OKC to cover. However, 66% of the handle is on the Pacers moneyline (+320), according to DraftKings.

Oklahoma City is also getting a lion’s share of the bets when it comes to the exact outcome of the series.

For bets on “Correct Score,” 64% of the betting handle and 41% of bets placed are on the Thunder to win in five games (+250), the most likely outcome based on the odds. An Oklahoma City sweep (+260) has 18% of the handle and 25% of bets placed. Pacers in six (+1400) has the most bets of any that have Indiana winning the series (5% handle, 9% bets placed).

While the odds show that the Pacers are a long shot to win the title, they have been underdogs throughout the playoffs. They have not been favored to win a series since the first round, and DraftKings gave Indiana 85-to-1 odds to win the title before the playoffs, the longest odds in the sportsbook’s history for any team that has made the Finals.

“No quote, unquote expert or analyst is going to pick us, and that’s O.K. We like it better that way,” Indiana star Tyrese Haliburton said Tuesday.

Susan Mullane-Imagn Images

An American has not won a French Open singles title in more than a decade. Coco Gauff is the country’s last hope of ending the drought this year.

Gauff defeated fellow American Madison Keys in the quarterfinals Wednesday to advance to her second consecutive semifinals at Roland-Garros. She is the last remaining American in the tournament, man or woman, after Tommy Paul and Frances Tiafoe were knocked out in the men’s quarterfinals Tuesday.

The last American to win the French Open was Serena Williams in 2015, the longest gap among the four Grand Slams. The last American man was Andre Agassi in 1999.

Gauff was the last U.S. player to reach the finals of the lone Grand Slam played on clay back in 2022, the first Grand Slam final of her career. She was 18 years old at the time, and she has since won one Grand Slam (2023 US Open), hit her career-high ranking (No. 2), and amassed more than $24.3 million in career earnings. 

Now 21, Gauff will face France’s own Lois Boisson, the biggest Cinderella story of the tournament, who entered the French Open ranked No. 361. Gauff, however, will likely be up against the Paris crowd Thursday—something she said she’s had to deal with before. 

“I think there are two ways I have done it in the past. Either, A: just pretend they’re cheering for you, and B: just using it and not letting that get to you,” Gauff told reporters Wednesday.

While Gauff (-500) is the odds-on favorite to beat Boisson, she may not be favored regardless of whoever comes out of the other side of the bracket. Gauff will either face four-time French Open champion Iga Świątek, who has eliminated her from the Grand Slam in three consecutive years, or world No. 1 Aryna Sabalenka.

Trending Up

Even if Gauff is unable to secure a title at Roland-Garros, the tournament was still a massive step in the right direction for U.S. tennis. Eight Americans made the round of 16 this year, the most in the last 40 years.

Five women made it (Amanda Anisimova, Gauff, Keys, Jessica Pegula, Hailey Baptiste), and three men (Paul, Tiafoe, Ben Shelton). Four advanced to the quarterfinals, including Paul and Tiafoe—the first time multiple men have made the final eight at Roland-Garros since 1995.

Clay is historically one of the weaker courts for U.S. players, as hard courts are more common locally while clay courts are common in Europe.

  • Saquon Barkley had a harness to help replicate his reverse hurdle for the Madden 26 cover shoot. Take a look.
  • The Blackhawks are expanding their training facility and adding a 2,000-seat arena for USHL’s Chicago Steel. Check out the renderings.
  • Former Michigan and NFL tight end Jake Butt said most of his friends bet on sports. “It’s probably 10-to-1 of people that bet,” Butt said on Next Up with Adam Breneman. Watch it here.

Are you less interested in the French Open when there are no American contenders left?

Wednesday’s result: 40% of respondents watched more baseball this year than last season.






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Catapult buys MIT spinout Perch for $28m — Capital Brief

The news: Sports technology company Catapult Group International has acquired athlete monitoring platform and Massachusetts Institute of Technology spinout Perch. The numbers: The US$18 million ($28 million) acquisition was completed on Wednesday, with US$3 million cash to be paid out of Catapult’s existing cash reserves at close. The remainder will be paid out in Catapult […]

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The news: Sports technology company Catapult Group International has acquired athlete monitoring platform and Massachusetts Institute of Technology spinout Perch.

The numbers: The US$18 million ($28 million) acquisition was completed on Wednesday, with US$3 million cash to be paid out of Catapult’s existing cash reserves at close.

The remainder will be paid out in Catapult shares across four tranches.

Perch shareholders are also eligible for an earn-out of up to US$10 million in additional shares over the period June 2027 to May 2028 if growth milestones for annual contract value (ACV) are met.

Shares will be valued at the 30-day volume-weighted average price ending prior to the release of Catapult’s financial year 2025 results.

Perch, founded in 2016, has an annual contract value of about US$2.5 million and has trained its computer vision algorithm across 40,000 unique users.

The context: Perch’s uses 3D cameras combined with computer vision and AI to automate tracking of athlete strength training, aiming to deliver real-time feedback and saving time compared to manual data collection.

What they said: “By bringing our solutions together, we’re building a smarter, more connected athlete monitoring system — on the field, in the gym and beyond,” Catapult CEO and managing director Will Lopes said.

“The acquisition strengthens our Performance & Health vertical and accelerates our mission to deliver intuitive, end-to-end solutions for professional sports.



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