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Martyadhen

05 Apr 2024 - 04:16 am

On betting’s biggest day, a new scandal puts the sports world on edge
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As millions of Americans raced to fill out brackets and place wagers on teenage basketball players Thursday, another scandal amplified calls for the country’s booming sports-betting industry to be restrained - and reformed.

The Los Angeles Dodgers fired Shohei Ohtani’s interpreter Wednesday night, after the translator told ESPN that Ohtani paid off the interpreter’s offshore gambling debts and as Ohtani’s lawyer told another story, accusing the translator of stealing roughly $4.5 million.

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While fans sorted through the ramifications and Ohtani played on in the Dodgers’ season-opening series in Seoul, experts and amateurs alike joined office pools and placed wagers on the first round of the NCAA men’s basketball tournament, the country’s closest thing to an official sports betting holiday.

Players, leagues and fans have been reckoning with the still-unfolding effects of sports gambling since a Supreme Court ruling handed the question of legalization to states in 2018. Each constituency may be arriving at the realization those impacts have mushroomed beyond anyone’s control.

“The amount of money is so enormous that it is almost impossible to attack the problem,” former MLB commissioner Fay Vincent said in a phone interview Thursday. “Theoretically, there’s nothing wrong with an adult who has control of his brain and control of his financial situation betting on sports. The problem is, the sport itself gets so caught up in the amount of money that I don’t know how a professional sport or the NCAA or anybody - how do you draw up a code of conduct for an individual? What’s the line? When do we start admitting this is a really big problem?”

Dennislum

05 Apr 2024 - 04:16 am

Nike inflicts huge home defeat on Adidas by nabbing German soccer team kit deal
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Things have gone from bad to worse for Adidas. After a costly break-up with US rapper Ye that helped push the German sportswear giant into a rare loss last year, it’s now suffered a bruising defeat on home turf.

The German Football Association (DFB) announced Thursday that the company’s arch rival Nike (NKE) will be the official kit supplier for national soccer teams from 2027 until 2?034. The decision brings to an abrupt end more than seven decades of the sport’s partnership with Adidas that spanned four World Cup wins for the men’s team.

In a statement, DFB President Bernd Neuendorf said German football owed “a great deal” to the partnership with Adidas and that the association was “fully committed” to achieving further joint success through the end of 2026, when their contract expires.
The DFB said Nike had made “by far the best financial offer” and impressed with its vision for developing women’s football, and amateur and grassroots sport in Germany. It did not say how much the new deal was worth.

An Adidas spokesperson said in a statement that “we were informed by the DFB yesterday that the federation will have a new supplier from 2027 onwards.”

Germany will be the host for the Euro 2024 men’s championship, taking place this June and July. Adidas will supply the kits for seven national teams, including the German, Italian and Spanish teams.

In just under three years’ time, however, fans will see Nike’s trademark ticks, not the three stripes of Adidas, on the shirts of Germany’s national teams. German economy minister Robert Habeck reportedly told local news agency DPA Friday that he could “hardly imagine” the prospect.

The partnership between Adidas and German football was a “piece of German identity,” he was reported as saying. “I would have liked a bit more local patriotism.”

Adidas was founded in 1949 in Herzogenaurach, a small town outside Nuremberg in south-east Germany, the same year it registered its now-iconic three-stripe logo.

DFB’s announcement comes at a bad time for Adidas, which last week posted a net loss of €58 million ($63 million) in its core business for 2023, citing a slowdown in sales of its Yeezy-branded clothing and sneakers, and a large tax burden.

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05 Apr 2024 - 02:52 am

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05 Apr 2024 - 01:13 am

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