By Net Income
In a story Monday on the rise of sports betting, Sports Business Journal points to Asia as a crucial market and Nets CEO Brett Yormark believes the Nets team’s ownership structure will be advantage in selling sponsorships in Asia.
SBJ notes “For those selling and marketing sports media and sponsorships, the imminent legalization of widespread bookmaking is like a map to buried treasure.” Experts think that rather than being sportsbook operators, leagues and their teams will be smarter to a seller of sports media and sponsorships.
And that’s where the Tsai Effect will come into play. Yormark just recently returned from China to discuss spsonorships and other advertising, his trip spurred by Tsai’s purchase of a 49 percent stake in the Nets (and no doubt next year’s return of Jeremy Lin.)
Asia is now the biggest gambling market in the world, SFJ’s Terry Lefton reports. The popularity of the NBA in China is one rationale behind NBA Commissioner Adam Stern championing legalized sports betting.
As for the Nets, Lefton notes...
On his way back from recent meetings with Tsai and potential sponsors in China, Brooklyn Sports & Entertainment CEO Brett Yormark stopped in London to familiarize himself with the legal bookmaking industry...