logo
New York Mets hire Lew Sherr from the US Open tennis tournament as president of business operations

New York Mets hire Lew Sherr from the US Open tennis tournament as president of business operations

PARIS (AP) — The New York Mets are hiring the person who oversees the U.S. Open tennis tournament, Lew Sherr, as their new president of business operations.
Sherr has been the CEO and executive director of the U.S. Tennis Association since 2022 and has worked there since 2010, including previously as chief revenue officer. His departure was announced by the USTA on Friday; he will remain there until the end of June, then start with the Mets in July.
'For right now, my focus is the smoothest possible transition,' Sherr said in an interview with The Associated Press at the French Open. 'But I'm hugely excited about what's happening over there. (Mets owners) Steve and Alex Cohen have made a commitment to that team that is unrivaled in sports. You see it on the field, off the field. The energy around the team. The energy around what they're trying to do for the community with their foundation. The plans for the casino and the hotel and entertainment district.'
Steve Cohen is among the bidders for three casino licenses to be awarded by the New York State Gaming Commission and has been lobbying to have the state legislature reclassify the parking lots adjacent to Citi Field — also near the facility that hosts the U.S. Open — from parkland to commercial land for a gaming facility.
The Mets announced Scott Havens' departure as their president of business operations on Tuesday; he was in that post since December 2023. Chief legal officer Katie Pothier, chief marketing officer Andy Goldberg, chief communications officer Nancy Elder and senior vice president of finance Peter Woll have left since November.
The USTA said Brian Vahaly and Andrea Hirsch will be interim co-CEOs during a search for Sherr's replacement. Vahaly is chairman of the USTA Board; Hirsch is the USTA's chief operating officer and chief legal officer.
In Sherr's time as CEO, the USTA has seen growth in tennis participation around the country, along with increases in U.S. Open attendance, sponsorships, and revenue from ticket sales and broadcasting rights.
'We've taken some big swings," Sherr said Friday, 'and thankfully, they're paying off.'
Just last week, he spoke at a news conference in New York to unveil an $800 million project to update Arthur Ashe Stadium and create a player performance center on the tournament grounds. He also made significant changes to this year's U.S. Open mixed doubles event in a bid to attract top singles players, making it a two-day, 16-team competition the week before the singles brackets begin.
'It's bittersweet, in that I really have loved being part of this organization for 15 years and the opportunities I've had to do just really interesting things — and not just on the commercial side, but in terms of helping us think about growing the sport,' Sherr said. "I'm leaving sleeping well at night, knowing (the USTA) is going to be well looked-after.'
___
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

European economy sees growth of only 0.1% as scramble to get ahead of US tariffs goes into reverse
European economy sees growth of only 0.1% as scramble to get ahead of US tariffs goes into reverse

Yahoo

time20 minutes ago

  • Yahoo

European economy sees growth of only 0.1% as scramble to get ahead of US tariffs goes into reverse

FRANKFURT, Germany (AP) — Europe's economy barely grew in the April-June quarter as frantic earlier efforts to ship goods ahead of new U.S. tariffs went into reverse and output fell for the continent's biggest economy, Germany. Gross domestic product grew an anemic 0.1% compared to the previous quarter in the 20 countries that use the euro currency, the EU statistics agency Eurostat reported Wednesday. Growth was 1.4% over the same quarter a year ago. And prospects are mediocre for the coming months, given the 15% tariff, or import tax, imposed on European goods in the U.S. under the EU-U.S. trade deal announced Sunday. The higher tariff will burden European exports with higher costs to either be passed on to U.S. consumers or swallowed in the form of lower profits. The economy sagged after stronger than expected 0.6% growth in the first quarter, a figure inflated by companies trying to move product ahead of U.S. President Donald Trump's additional tariff onslaught that was announced April 2, two days after the first quarter ended. Output fell 0.1% in Germany and Italy, while growth of 0.3% in France was boosted by a rise in auto and aircraft inventories while domestic demand was otherwise stagnant. That left Spain as the only strong performer among the four largest eurozone economies at 0.7% 'With the 15% U.S. universal tariff likely to subtract around 0.2% from the region's GDP, growth is likely to remain weak in the rest of this year,' said Franziska Palmas, senior Europe economist at Capital Economics. Germany's economy remains roughly the same size as it was before the pandemic six years ago, as its export-dominated business sector struggles with multiple issues including stronger competition from China, a lack of skilled workers, higher energy prices, lagging infrastructure investment, and burdensome regulation and bureaucracy. Economist Palmas said that Germany "is likely to be hit harder than other major economies by tariffs and continue to struggle this year" before increased government spending from the new government under Chancellor Friedrich Merz, aimed at making up the infrastructure gap, starts to boost the economy in 2026. On Wednesday, Germany's Cabinet approved a draft 2026 budget that foresees a second consecutive year of record government investment in priorities such as modernizing transport infrastructure, building homes, security and digitization. Spending is set to rise to 126.7 billion euros ($146.2 billion) next year from 115.7 billion euros in 2025. 'Our top priority is to secure jobs and ensure new economic strength,' Finance Minister Lars Klingbeil said. ___ Geir Moulson contributed from Berlin. David Mchugh, The Associated Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

InMode: Q2 Earnings Snapshot
InMode: Q2 Earnings Snapshot

San Francisco Chronicle​

time22 minutes ago

  • San Francisco Chronicle​

InMode: Q2 Earnings Snapshot

YOKNEAM, Israel (AP) — YOKNEAM, Israel (AP) — InMode Ltd. (INMD) on Wednesday reported earnings of $26.7 million in its second quarter. On a per-share basis, the Yokneam, Israel-based company said it had net income of 42 cents. Earnings, adjusted for stock option expense, came to 47 cents per share. The maker of cosmetic surgery devices posted revenue of $95.6 million in the period. InMode expects full-year earnings in the range of $1.55 to $1.59 per share, with revenue in the range of $365 million to $375 million. _____

Etsy: Q2 Earnings Snapshot
Etsy: Q2 Earnings Snapshot

San Francisco Chronicle​

time22 minutes ago

  • San Francisco Chronicle​

Etsy: Q2 Earnings Snapshot

BROOKLYN, N.Y. (AP) — BROOKLYN, N.Y. (AP) — Etsy Inc. (ETSY) on Wednesday reported second-quarter earnings of $28.8 million. On a per-share basis, the Brooklyn, New York-based company said it had profit of 25 cents. The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share. The online crafts marketplace posted revenue of $672.7 million in the period, which topped Street forecasts. Eleven analysts surveyed by Zacks expected $648 million. _____

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store