Latest news with #DavidCarter
Yahoo
5 hours ago
- Business
- Yahoo
LA CorpGov Forum Sept 4: Featuring Sports, Entertainment, IPOs, VCs, Activism & Asia
CorpGov will launch the inaugural LA CorpGov Forum on Thursday, September 4, 2025, at 1500 N El Centro Ave, Los Angeles, California, in the heart of Hollywood. The forum will start at 2:00pm featuring an afternoon of panels and networking. A reception will follow from 5:00pm to 6:30pm with cocktails and hors d'oeuvres. Panel Topics: The Burgeoning Business of Sports Maximizing Value From Private Boards Entertainment and Media Capital Markets and IPO Readiness Role of Boards in Shareholder Activism Operating and Fundraising in Asia We invite institutional investors and corporate executives to attend. To request an invitation or for information on being a speaker, please email Editor@ The event follows the , which attracted hundreds of attendees for in-depth panels and , and the first Princeton CorpGov Forum in May. After the event, video highlights will be digitized into a report published on CorpGov and content partners Yahoo Finance, Bloomberg Terminals, Reuters via LSEG Workspace, and AlphaSense, filmed in 4K with professional editing. Preliminary Speakers Noelle Amos, Executive Vice President, Edelman Smithfield David Carter, Principal, The Sports Business Group Dick Drobnick, Former USC Vice Provost for Globalization and IBEAR MBA Program Director, Asia Society Southern California Chairman Emeritus John Evans, Co-Founder and Managing Director, Tractus Asia Jonathan Feldman, Partner, Goodmans LLP Baird Fogel, Partner, Eversheds-Sutherland Paul Haaga, Chair of the Board, The Ralph M. Parsons Foundation, Board Director, National Museum of Natural History at the Smithsonian Institution Rafique Jiwani, Vice President, Goldman Sachs Private Equity Andy Katz, General Partner, BrknPar Ventures (Sport Tech Growth Equity Fund) Ryan Keating, Partner, EisnerAmper Marcus Lollie, Managing Director, Moelis Shari Mager, Partner, U.S. National Leader, Capital Markets Readiness, KPMG US John Marchisi, Executive Director – Capital Markets, Artex Risk Solutions Hooman Shahidi, CEO, Opus Bloom Karen Snow, CEO, Rose & Co Capital Advisors, Former Global Head of Listings, Nasdaq Logan Tiari, Partner, Cooley LLP Mark Young, George Bozanic and Holman G. Hurt Chair in Sports and Entertainment Business, USC Business School Jarrett Banks, Editor-at-Large, CorpGov (Moderator) John Jannarone, Editor-in-Chief, CorpGov (Moderator) Contact: CorpGov John Jannarone Editor-in-Chief The post LA CorpGov Forum Sept 4: Featuring Sports, Entertainment, IPOs, VCs, Activism & Asia appeared first on CorpGov. 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
American Press
17-06-2025
- Business
- American Press
Louisiana poised to hike sports betting tax to help colleges pay their athletes
(Metro Creative Services) Louisiana is poised to hike taxes on sports betting to pump more than $24 million into athletic departments at the state's most prominent public universities. Legislation pending before Gov. Jeff Landry would make Louisiana the first state to raise taxes to fund college sports since a judge approved a landmark settlement with the NCAA allowing schools to directly pay athletes for use of their name, image and likeness (NIL). Anticipating the court's approval, Arkansas this year became the first to waive state income taxes on NIL payments made to athletes by higher education institutions. More states seem almost certain to adopt their own creative ways to gain an edge — or at least keep pace — in the rapidly evolving and highly competitive field of college sports. 'These bills, and the inevitable ones that will follow, are intended to make states 'college-athlete friendly,'' said David Carter, founder of the Sports Business Group consultancy and an adjunct professor at the University of Southern California. But 'they will no doubt continue to stoke the debate about the `perceived' preferential treatment afforded athletes.' The new NCAA rules allowing direct payments to college athletes kick in July 1. In the first year, each Division I school can share up to $20.5 million with its athletes — a figure that may be easier to meet for big-time programs than for smaller schools weighing whether to divert money from other purposes. The settlement also continues to allow college athletes to receive NIL money from third parties, such as donor-backed collectives that support specific schools. Louisiana bill sponsor: `We love football' The Louisiana legislation won final approval just two days after a judge approved the antitrust settlement between the NCAA and athletes, but it had been in the works for months. Athletic directors from many of Louisiana's universities met earlier this year and hashed out a plan with lawmakers to relieve some of their financial pressures by dividing a share of the state's sports betting tax revenue. The biggest question for lawmakers was how large of a tax increase to support. The initial proposal sought to double the state's 15% tax on net proceeds from online sports betting. But lawmakers ultimately agreed on a 21.5% tax rate in a compromise with the industry. One-quarter of the tax revenue from online sports wagering — an estimated $24.3 million — would be split equally among 11 public universities in conferences with Division I football programs. The money must be used 'for the benefit of student athletes,' including scholarships, insurance, medical coverage, facility enhancements and litigation settlement fees. The state tax money won't provide direct NIL payments to athletes. But it could facilitate that indirectly by freeing up other university resources. The legislation passed overwhelmingly in the final days of Louisiana's annual session. 'We love football in Louisiana – that's the easiest way to say it,' said Republican state Rep. Neil Riser, who sponsored the bill. Smaller universities are feeling the squeeze Many colleges and universities across the country have been feeling a financial squeeze, but it's especially affected the athletic departments of smaller schools. Athletic departments in the top Division I football conferences take in millions of dollars from media rights, donors, corporate sponsors and ticket sales, with a median of just 7% coming from student fees and institutional and government support, according to the Knight-Newhouse College Athletics Database. But the remaining schools in Division I football bowl conferences got a median of 63% of the revenue from such sources last year. And schools without football teams got a median of 81% of their athletic department revenues from institutional and governmental support or student fees. Riser said Louisiana's smaller universities, in particular, have been struggling financially and have shifted money from their general funds to their sports programs to try to remain competitive. At the same time, the state has taken in millions of dollars of tax revenue from sports bets made at least partly on college athletics. 'Without the athletes, we wouldn't have the revenue. I just felt like it's fairness that we do give something back and, at the same time, help the general funds of the universities,' Riser said. Other states are investing in college sports Louisiana would become the second state behind North Carolina to dedicate a portion of its sports wagering revenues to college athletics. North Carolina launched online sports wagering last year under a state law earmarking part of an 18% tax on gross gaming revenue to the athletic departments at 13 public universities. The state's two largest institutions were excluded. But that might be about to change. Differing budget plans passed by the state House and Senate this year both would start allotting sports betting tax revenue to the athletic programs at the University of North Carolina at Chapel Hill and North Carolina State University. The Senate version also would double the tax rate. The proposals come a year after University of North Carolina trustees approved an audit of the athletics department after a preliminary budget projected about $100 million of debt in the years ahead. Other schools also are taking actions because of deficits in their athletic departments. Last week, University of Kentucky trustees approved a $31 million operating loan for the athletics department as it begins making direct NIL payments to athletes. That came after trustees in April voted to convert the Kentucky athletics department into a limited-liability holding company — Champions Blue LLC — to more nimbly navigate the emerging financial pressures. Given the money involved in college athletics, it's not surprising that states are starting to provide tax money to athletic departments or — as in Arkansas' case — tax relief to college athletes, said Patrick Rishe, executive director of the sports business program at Washington University in St. Louis. 'If you can attract better athletes to your schools and your states, then this is more visibility to your states, this is more potential out-of-town economic activity for your state,' Rishe said. 'I do think you're going to see many states pursue this, because you don't want to be the state that's left exposed or at a disadvantage.'
The Independent
17-06-2025
- Business
- The Independent
Louisiana is poised to hike its sports betting tax to help colleges pay their athletes
Louisiana is poised to hike taxes on sports betting to pump more than $24 million into athletic departments at the state's most prominent public universities. Legislation pending before Gov. Jeff Landry would make Louisiana the first state to raise taxes to fund college sports since a judge approved a landmark settlement with the NCAA allowing schools to directly pay athletes for use of their name, image and likeness (NIL). Anticipating the court's approval, Arkansas this year became the first to waive state income taxes on NIL payments made to athletes by higher education institutions. More states seem almost certain to adopt their own creative ways to gain an edge — or at least keep pace — in the rapidly evolving and highly competitive field of college sports. 'These bills, and the inevitable ones that will follow, are intended to make states 'college-athlete friendly,'' said David Carter, founder of the Sports Business Group consultancy and an adjunct professor at the University of Southern California. But 'they will no doubt continue to stoke the debate about the `perceived' preferential treatment afforded athletes.' The new NCCA rules allowing direct payments to college athletes kick in July 1. In the first year, each Division I school can share up to $20.5 million with its athletes — a figure that may be easier to meet for big-time programs than for smaller schools weighing whether to divert money from other purposes. The settlement also continues to allow college athletes to receive NIL money from third parties, such as donor-backed collectives that support specific schools. Louisiana bill sponsor: `We love football' The Louisiana legislation won final approval just two days after a judge approved the antitrust settlement between the NCAA and athletes, but it had been in the works for months. Athletic directors from many of Louisiana's universities met earlier this year and hashed out a plan with lawmakers to relieve some of their financial pressures by dividing a share of the state's sports betting tax revenue. The biggest question for lawmakers was how large of a tax increase to support. The initial proposal sought to double the state's 15% tax on net proceeds from online sports betting. But lawmakers ultimately agreed on a 21.5% tax rate in a compromise with the industry. One-quarter of the tax revenue from online sports wagering — an estimated $24.3 million — would be split equally among 11 public universities in conferences with Division I football programs. The money must be used 'for the benefit of student athletes,' including scholarships, insurance, medical coverage, facility enhancements and litigation settlement fees. The state tax money won't provide direct NIL payments to athletes. But it could facilitate that indirectly by freeing up other university resources. The legislation passed overwhelmingly in the final days of Louisiana's annual session. 'We love football in Louisiana – that's the easiest way to say it,' said Republican state Rep. Neil Riser, who sponsored the bill. Smaller universities are feeling the squeeze Many colleges and universities across the country have been feeling a financial squeeze, but it's especially affected the athletic departments of smaller schools. Athletic departments in the top Division I football conferences take in millions of dollars from media rights, donors, corporate sponsors and ticket sales, with a median of just 7% coming from student fees and institutional and government support, according to the Knight-Newhouse College Athletics Database. But the remaining schools in Division I football bowl conferences got a median of 63% of the revenue from such sources last year. And schools without football teams got a median of 81% of their athletic department revenues from institutional and governmental support or student fees. Riser said Louisiana's smaller universities, in particular, have been struggling financially and have shifted money from their general funds to their sports programs to try to remain competitive. At the same time, the state has taken in millions of dollars of tax revenue from sports bets made at least partly on college athletics. 'Without the athletes, we wouldn't have the revenue. I just felt like it's fairness that we do give something back and, at the same time, help the general funds of the universities,' Riser said. Other states are investing in college sports Louisiana would become the second state behind North Carolina to dedicate a portion of its sports wagering revenues to colleges athletics. North Carolina launched online sports wagering last year under a state law earmarking part of an 18% tax on gross gaming revenue to the athletic departments at 13 public universities. The state's two largest institutions were excluded. But that might be about to change. Differing budget plans passed by the state House and Senate this year both would start allotting sports betting tax revenue to the athletic programs at the University of North Carolina at Chapel Hill and North Carolina State University. The Senate version also would double the tax rate. The proposals come a year after University of North Carolina trustees approved an audit of the athletics department after a preliminary budget projected about $100 million of debt in the years ahead. Other schools also are taking actions because of deficits in their athletic departments. Last week, University of Kentucky trustees approved a $31 million operating loan for the athletics department as it begins making direct NIL payments to athletes. That came after trustees in April voted to convert the Kentucky athletics department into a limited-liability holding company — Champions Blue LLC — to more nimbly navigate the emerging financial pressures. Given the money involved in college athletics, it's not surprising that states are starting to provide tax money to athletic departments or — as in Arkansas' case — tax relief to college athletes, said Patrick Rishe, executive director of the sports business program at Washington University in St. Louis. 'If you can attract better athletes to your schools and your states, then this is more visibility to your states, this is more potential out-of-town economic activity for your state," Rishe said. 'I do think you're going to see many states pursue this, because you don't want to be the state that's left exposed or at a disadvantage.'
17-06-2025
- Business
Louisiana is poised to hike its sports betting tax to help colleges pay their athletes
Louisiana is poised to hike taxes on sports betting to pump more than $24 million into athletic departments at the state's most prominent public universities. Legislation pending before Gov. Jeff Landry would make Louisiana the first state to raise taxes to fund college sports since a judge approved a landmark settlement with the NCAA allowing schools to directly pay athletes for use of their name, image and likeness (NIL). Anticipating the court's approval, Arkansas this year became the first to waive state income taxes on NIL payments made to athletes by higher education institutions. More states seem almost certain to adopt their own creative ways to gain an edge — or at least keep pace — in the rapidly evolving and highly competitive field of college sports. 'These bills, and the inevitable ones that will follow, are intended to make states 'college-athlete friendly,'' said David Carter, founder of the Sports Business Group consultancy and an adjunct professor at the University of Southern California. But 'they will no doubt continue to stoke the debate about the `perceived' preferential treatment afforded athletes.' The new NCCA rules allowing direct payments to college athletes kick in July 1. In the first year, each Division I school can share up to $20.5 million with its athletes — a figure that may be easier to meet for big-time programs than for smaller schools weighing whether to divert money from other purposes. The settlement also continues to allow college athletes to receive NIL money from third parties, such as donor-backed collectives that support specific schools. The Louisiana legislation won final approval just two days after a judge approved the antitrust settlement between the NCAA and athletes, but it had been in the works for months. Athletic directors from many of Louisiana's universities met earlier this year and hashed out a plan with lawmakers to relieve some of their financial pressures by dividing a share of the state's sports betting tax revenue. The biggest question for lawmakers was how large of a tax increase to support. The initial proposal sought to double the state's 15% tax on net proceeds from online sports betting. But lawmakers ultimately agreed on a 21.5% tax rate in a compromise with the industry. One-quarter of the tax revenue from online sports wagering — an estimated $24.3 million — would be split equally among 11 public universities in conferences with Division I football programs. The money must be used 'for the benefit of student athletes,' including scholarships, insurance, medical coverage, facility enhancements and litigation settlement fees. The state tax money won't provide direct NIL payments to athletes. But it could facilitate that indirectly by freeing up other university resources. The legislation passed overwhelmingly in the final days of Louisiana's annual session. 'We love football in Louisiana – that's the easiest way to say it,' said Republican state Rep. Neil Riser, who sponsored the bill. Many colleges and universities across the country have been feeling a financial squeeze, but it's especially affected the athletic departments of smaller schools. Athletic departments in the top Division I football conferences take in millions of dollars from media rights, donors, corporate sponsors and ticket sales, with a median of just 7% coming from student fees and institutional and government support, according to the Knight-Newhouse College Athletics Database. But the remaining schools in Division I football bowl conferences got a median of 63% of the revenue from such sources last year. And schools without football teams got a median of 81% of their athletic department revenues from institutional and governmental support or student fees. Riser said Louisiana's smaller universities, in particular, have been struggling financially and have shifted money from their general funds to their sports programs to try to remain competitive. At the same time, the state has taken in millions of dollars of tax revenue from sports bets made at least partly on college athletics. 'Without the athletes, we wouldn't have the revenue. I just felt like it's fairness that we do give something back and, at the same time, help the general funds of the universities,' Riser said. Louisiana would become the second state behind North Carolina to dedicate a portion of its sports wagering revenues to colleges athletics. North Carolina launched online sports wagering last year under a state law earmarking part of an 18% tax on gross gaming revenue to the athletic departments at 13 public universities. The state's two largest institutions were excluded. But that might be about to change. Differing budget plans passed by the state House and Senate this year both would start allotting sports betting tax revenue to the athletic programs at the University of North Carolina at Chapel Hill and North Carolina State University. The Senate version also would double the tax rate. The proposals come a year after University of North Carolina trustees approved an audit of the athletics department after a preliminary budget projected about $100 million of debt in the years ahead. Other schools also are taking actions because of deficits in their athletic departments. Last week, University of Kentucky trustees approved a $31 million operating loan for the athletics department as it begins making direct NIL payments to athletes. That came after trustees in April voted to convert the Kentucky athletics department into a limited-liability holding company — Champions Blue LLC — to more nimbly navigate the emerging financial pressures. Given the money involved in college athletics, it's not surprising that states are starting to provide tax money to athletic departments or — as in Arkansas' case — tax relief to college athletes, said Patrick Rishe, executive director of the sports business program at Washington University in St. Louis. 'If you can attract better athletes to your schools and your states, then this is more visibility to your states, this is more potential out-of-town economic activity for your state," Rishe said. 'I do think you're going to see many states pursue this, because you don't want to be the state that's left exposed or at a disadvantage.'
Fox Sports
17-06-2025
- Business
- Fox Sports
Louisiana is poised to hike its sports betting tax to help colleges pay their athletes
Associated Press Louisiana is poised to hike taxes on sports betting to pump more than $24 million into athletic departments at the state's most prominent public universities. Legislation pending before Gov. Jeff Landry would make Louisiana the first state to raise taxes to fund college sports since a judge approved a landmark settlement with the NCAA allowing schools to directly pay athletes for use of their name, image and likeness (NIL). Anticipating the court's approval, Arkansas this year became the first to waive state income taxes on NIL payments made to athletes by higher education institutions. More states seem almost certain to adopt their own creative ways to gain an edge — or at least keep pace — in the rapidly evolving and highly competitive field of college sports. 'These bills, and the inevitable ones that will follow, are intended to make states 'college-athlete friendly,'' said David Carter, founder of the Sports Business Group consultancy and an adjunct professor at the University of Southern California. But 'they will no doubt continue to stoke the debate about the `perceived' preferential treatment afforded athletes.' The new NCCA rules allowing direct payments to college athletes kick in July 1. In the first year, each Division I school can share up to $20.5 million with its athletes — a figure that may be easier to meet for big-time programs than for smaller schools weighing whether to divert money from other purposes. The settlement also continues to allow college athletes to receive NIL money from third parties, such as donor-backed collectives that support specific schools. Louisiana bill sponsor: `We love football' The Louisiana legislation won final approval just two days after a judge approved the antitrust settlement between the NCAA and athletes, but it had been in the works for months. Athletic directors from many of Louisiana's universities met earlier this year and hashed out a plan with lawmakers to relieve some of their financial pressures by dividing a share of the state's sports betting tax revenue. The biggest question for lawmakers was how large of a tax increase to support. The initial proposal sought to double the state's 15% tax on net proceeds from online sports betting. But lawmakers ultimately agreed on a 21.5% tax rate in a compromise with the industry. One-quarter of the tax revenue from online sports wagering — an estimated $24.3 million — would be split equally among 11 public universities in conferences with Division I football programs. The money must be used 'for the benefit of student athletes,' including scholarships, insurance, medical coverage, facility enhancements and litigation settlement fees. The state tax money won't provide direct NIL payments to athletes. But it could facilitate that indirectly by freeing up other university resources. The legislation passed overwhelmingly in the final days of Louisiana's annual session. 'We love football in Louisiana – that's the easiest way to say it,' said Republican state Rep. Neil Riser, who sponsored the bill. Smaller universities are feeling the squeeze Many colleges and universities across the country have been feeling a financial squeeze, but it's especially affected the athletic departments of smaller schools. Athletic departments in the top Division I football conferences take in millions of dollars from media rights, donors, corporate sponsors and ticket sales, with a median of just 7% coming from student fees and institutional and government support, according to the Knight-Newhouse College Athletics Database. But the remaining schools in Division I football bowl conferences got a median of 63% of the revenue from such sources last year. And schools without football teams got a median of 81% of their athletic department revenues from institutional and governmental support or student fees. Riser said Louisiana's smaller universities, in particular, have been struggling financially and have shifted money from their general funds to their sports programs to try to remain competitive. At the same time, the state has taken in millions of dollars of tax revenue from sports bets made at least partly on college athletics. 'Without the athletes, we wouldn't have the revenue. I just felt like it's fairness that we do give something back and, at the same time, help the general funds of the universities,' Riser said. Other states are investing in college sports Louisiana would become the second state behind North Carolina to dedicate a portion of its sports wagering revenues to colleges athletics. North Carolina launched online sports wagering last year under a state law earmarking part of an 18% tax on gross gaming revenue to the athletic departments at 13 public universities. The state's two largest institutions were excluded. But that might be about to change. Differing budget plans passed by the state House and Senate this year both would start allotting sports betting tax revenue to the athletic programs at the University of North Carolina at Chapel Hill and North Carolina State University. The Senate version also would double the tax rate. The proposals come a year after University of North Carolina trustees approved an audit of the athletics department after a preliminary budget projected about $100 million of debt in the years ahead. Other schools also are taking actions because of deficits in their athletic departments. Last week, University of Kentucky trustees approved a $31 million operating loan for the athletics department as it begins making direct NIL payments to athletes. That came after trustees in April voted to convert the Kentucky athletics department into a limited-liability holding company — Champions Blue LLC — to more nimbly navigate the emerging financial pressures. Given the money involved in college athletics, it's not surprising that states are starting to provide tax money to athletic departments or — as in Arkansas' case — tax relief to college athletes, said Patrick Rishe, executive director of the sports business program at Washington University in St. Louis. 'If you can attract better athletes to your schools and your states, then this is more visibility to your states, this is more potential out-of-town economic activity for your state," Rishe said. 'I do think you're going to see many states pursue this, because you don't want to be the state that's left exposed or at a disadvantage.' recommended
