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Welcome to Office Chair Sports! Your home for everything Sports & Biz! Today, we’re covering top news about:

• FanDuel Pays Jags

• NIL + LSU

• NBA Team Sells

• WNBA Breaks Records

• Clippers Story Get Juicy

How 433 Investors Unlocked 400X Return Potential

Institutional investors back startups to unlock outsized returns. Regular investors have to wait. But not anymore. Thanks to regulatory updates, some companies are doing things differently.

Take Revolut. In 2016, 433 regular people invested an average of $2,730. Today? They got a 400X buyout offer from the company, as Revolut’s valuation increased 89,900% in the same timeframe.

No wonder 10K+ everyday people are taking the chance on Pacaso.

Founded by a former Zillow exec, Pacaso’s co-ownership tech reshapes the $1.3T vacation home market. They’ve earned $110M+ in gross profit to date, including 41% YoY growth in 2024 alone. They even reserved the Nasdaq ticker PCSO.

The same institutional investors behind Uber, Venmo, and eBay backed Pacaso. And you can join them. But not for long. Pacaso’s investment opportunity ends September 18.

Invest While You Still Can

_{Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.}

1) Fanduel to Pay Jags $5M

FanDuel will pay the Jacksonville Jaguars approximately $5 million to settle a dispute over money stolen by a former team employee. Amit Patel, a mid-level finance manager, embezzled over $22 million from the Jaguars, depositing nearly $20 million of it with FanDuel. The NFL encouraged the two parties to reach a resolution, which was finalized earlier this year. Patel is currently serving a prison sentence for his crimes.

FanDuel to pay Jaguars $5M over stolen betting funds

2) NIL Deal: Nike + LSU QB

LSU quarterback Garrett Nussmeier has signed a notable NIL deal with Nike. The partnership comes as Nussmeier begins his senior season, following a strong performance last year where he threw for over 4,000 yards and 29 touchdowns.

With a current On3 NIL Valuation of $4 million, Nussmeier ranks among the top college athletes in NIL earnings. He is one of the highest-paid quarterbacks in the country and joins an elite group of athletes partnered with Nike, including Alabama wide receiver Ryan Williams and Penn State quarterback Drew Allar.

Nike announces NIL deal with LSU QB Garrett Nussmeier

3) NBA Blazers To Sell

The Portland Trail Blazers are set to be sold to a group of investors led by Carolina Hurricanes owner Tom Dundon. Paul Allen's estate, which has managed the team since his death, announced a formal sales agreement has been reached.

While terms of the deal were not disclosed, reports value the sale at $4 billion. Dundon's group includes a mix of prominent investors, and the deal is expected to be finalized by the end of the year, pending ratification from the NBA Board of Governors.

Paul Allen, who originally purchased the team in 1988 for $70 million, stipulated in his will that his teams be sold and the proceeds donated to charity. The estate has yet to announce plans for the sale of the Seattle Seahawks.

Allen's estate enters formal agreement to sell Trail Blazers

NIL

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4) Headline WNBA Stats Break Records

Despite Caitlin Clark's season-ending injury in mid-July, the WNBA just wrapped up its most-watched regular season ever on ESPN networks.

ESPN announced that WNBA regular-season games averaged 1.3 million viewers, a 6% increase from last year's record-setting season. Viewership among females saw a significant jump, rising 13% compared to last year.

The season's most-watched game was the Fever vs. Sky matchup in May, which drew 2.7 million viewers. All but one of the top 10 most-watched games on ESPN networks featured the Indiana Fever.

WNBA regular season most watched in history, ESPN data shows, even with Caitlin Clark injury

5) The Clippers Scandal Gets More Bizarre

In a new twist to the ongoing scandal, it's been reported that Los Angeles Clippers owner Steve Ballmer made a second, $10 million investment in the company at the heart of the investigation, Aspiration. This came after an initial $50 million investment.

The NBA is currently investigating if the Clippers used a $28 million sponsorship deal between star Kawhi Leonard and the fintech company, Aspiration, as a way to circumvent the salary cap. Ballmer has maintained his innocence, claiming he was "conned" by the company.

However, the new report from The Athletic reveals that Ballmer's additional investment was made in 2023, a time when Aspiration was in financial distress and bleeding cash. The report also notes that Clippers co-owner Dennis Wong invested an additional $1.99 million in the same period, coinciding with a $1.75 million payment to Leonard.

Kawhi Leonard scandal: Steve Ballmer reportedly invested another $10 million into company he said 'conned' him

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