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LAS VEGAS — Players Era Festival organizers have done what so many other have tried — bet their fortunes in this city that a big payoff is coming. Such bet are usually bad ones, which is why so many massive casino-resorts have been built on Las Vegas Boulevard. But it doesn't mean the organizers are wrong. They're counting on the minimum of $1 million in guaranteed name, image and likeness money that will go to each of the eight teams competing in the neutral-site tournament that begins Tuesday will create a precedent for other such events. EverWonder Studios CEO Ian Orefice, who co-founded Players with former AND1 CEO Seth Berger, compared this event to last year's inaugural NBA In-Season Tournament that played its semifinals and final in Las Vegas by saying it "did really well to reinvigorate the fan base at the beginning of the year." "We're excited that we're able to really change the paradigm in college basketball on the economics," Orefice said. "But for us, it's about the long term. How do we use the momentum that is launching with the 2024 Players Era Festival and be the catalyst not to change one event, but to change college basketball for the future." Orefice and Berger didn't disclose financial details, but said the event will come close to breaking even this year and that revenue is in eight figures. Orefice said the bulk of the revenue will come from relationships with MGM, TNT Sports and Publicis Sport & Entertainment as well as sponsors that will be announced later. Both organizers said they are so bullish on the tournament's prospects that they already are planning ahead. Money made from this year's event, Orefice said, goes right back into the company. "We're really in this for the long haul," Orefice said. "So we're not looking at it on a one-year basis." Rick Giles is president of the Gazelle Group, which also operates several similar events, including the College Basketball Invitational. He was skeptical the financial numbers would work. Giles said in addition to more than $8 million going to the players, there were other expenses such as the guarantees to the teams. He said he didn't know if the tournament would make up the difference with ticket sales, broadcast rights and sponsorship money. The top bowl of the MGM Grand Garden Arena will be curtained off. "The math is highly challenging," Giles said. "Attendance and ticket revenues are not going to come anywhere close to covering that. They haven't announced any sponsors that I'm aware of. So it all sort of rests with their media deal with Turner and how much capital they want to commit to it to get these players paid." David Carter, a University of Southern California adjunct professor who also runs the Sports Business Group consultancy, said even if the Players isn't a financial success this year, the question is whether there will be enough interest to move forward. "If there is bandwidth for another tournament and if the TV or the streaming ratings are going to be there and people are going to want to attend and companies are going to want to sponsor, then, yeah, it's probably going to work," Carter said. "But it may take them time to gain that traction." Both founders said they initially were met with skepticism about putting together such an event, especially from teams they were interested in inviting. Houston was the first school to commit, first offering an oral pledge early in the year and then signing a contract in April. That created momentum for others to join, and including the No. 6 Cougars, half the field is ranked. "We have the relationships to operate a great event," Berger said. "We had to get coaches over those hurdles, and once they knew that we were real, schools got on board really quickly." The founders worked with the NCAA to make sure the tournament abided by that organization's rules, so players must appear at ancillary events in order to receive NIL money. Strict pay for play is not allowed, though there are incentives for performance. The champion, for example, will receive $1.5 million in NIL money. Now the pressure is on to pull off the event and not create the kind of headlines that can dog it for years to come. "I think everybody in the marketplace is watching what's going to happen (this) week and, more importantly, what happens afterwards," Giles said. "Do the players get paid on a timely basis? And if they do, that means that Turner or somebody has paid way more than the market dictates? And the question will be: Can that continue?" CREIGHTON: P oint guard Steven Ashworth likely won’t play in the No. 21 Bluejays’ game against San Diego State in the Players Era Festival in Las Vegas. Ashworth sprained his right ankle late in a loss to Nebraska on Friday and coach Greg McDermott said afterward he didn’t know how long he would be out. Get local news delivered to your inbox!Donald Trump’s January 6 charges ‘to be dropped’ as prosecutor files motion to dismiss case against President-elect
Hopes for a Santa Claus rally on Wall Street fell Friday as tech stocks slid lower, while a weaker yen lifted Japanese equities. US indices slid lower at the opening bell, with the tech-heavy Nasdaq Composite losing two percent during morning trading. Shares in Tesla were down over three percent in late morning trading while those in AI chipmaker NVIDIA shed around two percent. Wall Street stocks have historically performed well around the year-end holidays in what is popularly known as a Santa Claus rally. A Christmas Eve jump in equities got the Santa rally off to a flying start and indices barely budged in Thursday trading. Briefing.com analyst Patrick O'Hare also pointed to an increase in 10-year US Treasury bond yields to around 4.6 percent, which he noted is an increase of nearly 0.9 percentage points since the US Federal Reserve made its first interest rate cut in September. "The Fed doesn't hold sway over longer-dated maturities like it does over shorter-dated securities, so the bump in rates at the back end of the curve is being watched with an anxious eye as a possible harbinger of a pickup in inflation and/or the budget deficit," O'Hare said. Wall Street stocks took a knock earlier this month when the Fed indicated it would likely cut interest rates less than it had previously expected to. That was in part because of uncertainty tied to the stated intention of incoming president Donald Trump to raise tariffs, which could boost inflation that is already proving sticky. In Asia, Japan's Nikkei index closed up nearly two percent, with the yen's recent weakness proving a boon for major exporters. The yen hit 158.08 per US dollar on Thursday evening -- its lowest in almost six months -- following comments made by Bank of Japan Governor Kazuo Ueda that failed to give a clear signal on a possible interest rate increase next month. Recent data has showed Japan's inflation rose for a second month in December, while industrial production declined less than expected in November and retail sales came in higher than estimated last month. Japan's government also on Friday approved a record budget for the next fiscal year, ramping up spending on social welfare for its ageing population and on defence to tackle regional threats. In Seoul, the stock market closed down one percent after the won plunged to a nearly 16-year low of 1,487.03 against the dollar on Friday morning. South Korea is struggling to emerge from political turbulence in the wake of President Yoon Suk Yeol's martial law declaration this month, which prompted his impeachment. Acting President Han Duck-soo was also impeached Friday in a vote that prompted governing party lawmakers to protest with angry chants and raised fists. South Korea's business outlook for January fell in the Bank of Korea's composite sentiment index, the biggest month-on-month slide since April 2020, according to data based on almost 3,300 firms released Friday. In Europe, Frankfurt's DAX index rose after German President Frank-Walter Steinmeier dissolved parliament on Friday and confirmed the expected date for the early general election, emphasising the need for "political stability" in Europe's largest economy. New York - Dow: DOWN 0.8 percent at 42,987.31 New York - S&P 500: DOWN 1.2 percent at 5,967.31 New York - Nasdaq Composite: DOWN 1.7 percent at 19,676.01 London - FTSE 100: UP 0.2 percent at 8,149.78 (close) Paris - CAC 40: UP 1.0 percent at 7,355.37 (close) Frankfurt - DAX: UP 0.7 percent at 19,984.32 (close) Tokyo - Nikkei 225: UP 1.8 percent at 40,281.16 points (close) Seoul - Kospi: DOWN 1.0 percent at 2,404.77 (close) Hong Kong - Hang Seng Index: UP 0.1 percent at 20,116.93 (close) Shanghai - Composite: UP 0.1 percent at 3,400.14 (close) Euro/dollar: UP at $1.0431 from $1.0424 on Thursday Pound/dollar: UP at $1.2589 from $1.2526 Dollar/yen: DOWN at 157.53 yen from 158.00 yen Euro/pound: DOWN at 82.85 pence from 83.19 pence West Texas Intermediate: UP 1.2 percent at $70.42 per barrel Brent North Sea Crude: UP 1.1 percent at $73.62 per barrel burs-rl/rlp
Calin Georgescu, who ran independently, will face off against reformist Elena Lasconi in a December 8 run-off. Georgescu, 62, was ahead after nearly all ballots were counted with around 22.95 per cent of the vote. Lasconi, of the progressive Save Romania Union party, or USR, followed with 19.17 per cent. She beat by a slim margin incumbent Prime Minister Marcel Ciolacu of the Social Democratic Party, or PSD, who stood at 19.15 per cent. George Simion, the leader of the far-right Alliance for the Unity of Romanians took 13.87 per cent. After polls closed on Sunday, 9.4 million people – about 52.5 per cent of eligible voters – had cast ballots, according to the Central Election Bureau. Georgescu won 43.3 per cent of the vote in Romania’s large diaspora, compared with Lasconi who got 26.8 per cent.Advertisement 2 This advertisement has not loaded yet.
GREEN BAY, Wis. (AP) — Green Bay Packers coach Matt LaFleur hopes the homework he did earlier this month will help his team deal with its compressed schedule over the next couple of weeks. The Packers’ 38-10 victory Sunday over the San Francisco 49ers began a 12-day stretch in which they play three games. They’re back at Lambeau Field on Thursday night to host the Miami Dolphins before visiting the NFC North-leading Detroit Lions the following Thursday. LaFleur prepared for this. When the Packers had a bye Nov. 10, LaFleur said he spent the extra time studying the Dolphins, knowing he’d have little time to prepare for them this week. “I watched pretty much every snap of Miami knowing this was coming, so made my notes, had kind of a preliminary plan for that,” LaFleur said. The Packers (8-3) showed they could thrive in these quick turnaround situations last year, when they won a Thanksgiving Day game at Detroit four days after beating the Los Angeles Chargers at Lambeau Field. The difference this time is that the Packers will play another Thursday game a week after their Thanksgiving matchup against the Dolphins. Playing three games in so short a time frame could take a long-term physical toll as they head into the stretch run of the regular season. They started this three-game set by producing their highest point total since winning 38-20 at Chicago in their 2023 season opener. “I think collectively as a whole, especially on offense, I feel we’re getting back into a rhythm,” quarterback Jordan Love said. The Packers understand the importance of this stretch, particularly with the NFC North-leading Lions looming next week. Although Green Bay has put itself in good position to earn a playoff berth, the Packers have little margin for error if they want to catch up to the Lions (10-1) or Minnesota Vikings (9-2) in the NFC North race. The Packers already lost to both those teams at home and are just 1-2 within the division. “We know going down this stretch every game is going to be important, every practice is going to be important, every meeting, whatever the case may be is going to be important,” safety Xavier McKinney said. “So we’re looking forward to this challenge.” What’s working The Packers shored up their red zone offense by scoring touchdowns on each of their five trips inside the 49ers 20-yard line. It was the first time since 2017 the Packers had posted a perfect red zone percentage in a game while getting inside the opponent’s 20 at least five times. Green Bay entered the game having converted just 48.7% of its red zone possessions into touchdowns to rank 27th in the NFL. ... The Packers had 169 yards rushing to increase their season total to 1,668. That’s their highest total through the first 11 games of a season since 2003. ... After allowing a season-high 179 yards rushing in a 20-19 victory at Chicago, the Packers limited the 49ers to 44 yards on 16 carries. What needs work Not much. The Packers squandered a scoring opportunity late in the second quarter and could have led by more than 17-7 at the beak considering how they had dominated play up to that point, but this otherwise was a pretty crisp performance. Stock up McKinney broke up a fourth down pass and had a 48-yard interception return that led to a touchdown. McKinney has seven interceptions this season to tie Detroit’s Kerby Joseph for the NFL lead. ... RB Josh Jacobs rushed for 106 yards and three touchdowns. Jacobs has seven touchdowns (six rushing, one receiving) over his past five games. ... DL Rashan Gary has 2 1/2 sacks over his past three games. Gary also forced a fumble Sunday. ... One week after blocking a field-goal attempt as time expired to preserve Green Bay’s victory at Chicago, DL Karl Brooks recovered a fumble to set up a touchdown. ... K Brandon McManus made a 51-yard field goal, converting Green Bay’s first attempt from 50-plus yards this season. Stock down WR Christian Watson had no catches and dropped a potential 49-yard touchdown pass. Watson’s struggles came just a week after he caught four passes for a career-high 150 yards against the Bears. Injuries WR Romeo Doubs left the game with a concussion. CB Jaire Alexander (knee) and LB Edgerrin Cooper (hamstring) didn’t play. Key numbers 800/6: Jacobs has rushed for 944 yards and seven touchdowns this season which means he has run for at least 800 yards and six touchdowns in each of his first six NFL seasons. The only other players since 2000 to rush for at least 800 yards and six touchdowns in each of their first six seasons are Hall of Famer LaDainian Tomlinson, Ezekiel Elliott and Adrian Peterson. Next steps The Packers could get a strong test from the Dolphins (5-6), who are playing better than their record indicates. Miami has won three straight games by a combined score of 91-49. ___ AP NFL: https://apnews.com/hub/NFL Steve Megargee, The Associated Press
How Is The Market Feeling About Realty Income?Global markets demonstrated resilience amid the uncertainty surrounding the US election results, government policy changes, and shifting economic conditions. US equities, particularly small-cap stocks, rallied following Donald Trump's re-election and the Republican party's strengthened position in Congress. Growth stocks slightly outperformed value stocks, and the US dollar surged, reflecting market anticipation of inflationary pressures tied to the new administration’s policies. Tech stocks have been staples for investors investing in the US. NVIDIA and Tesla have topped the list with more than a fourth of investments from India going to them, showed Vested Finance data. While tech stocks remain the top choice for Indians investing in the US, Vested Finance data shows interest in ETFs that give diversity to the portfolio such as leveraged and inverse strategies also gained momentum during 2024. Amid heightened uncertainty given numerous global geopolitical crises, change in governments, and weakening growth in some parts of the world, investors should keep their focus on diversification, believes Vested Finance. Investors need to balance exposure to high-growth sectors, such as technology and renewable energy, with more defensive sectors like healthcare and financials. Emerging market stocks should be monitored closely, especially in light of currency fluctuations and geopolitical risks. “While a benign global growth environment justifies some optimism for risky assets, caution is warranted, especially with US equities trading at higher multiples compared to Europe and emerging markets,” said Viram Shah, CEO, Vested Finance, underlining his concerns over valuations in some pockets. Vested Finance provides brokerage services to Indian investors who want to invest in US-listed securities. In terms of market performance, the year 2024 saw the emergence of sectors beyond communication services and information technology rising to the top. While these two sectors dominated in 2023 and early 2024, financial stocks have taken the lead this year, followed closely by communication services, information technology. The utilities sector also marked its rise. These four sectors have outpaced the broader S&P 500 index. Top bought and sold stocks Tech stocks showcased their clear dominance, accounting for 46.36% of total buy volume on Vested Finance during 2024. NVIDIA (15.97% of buy volume) and Tesla (10.28%) took the lead, reflecting strong investor faith in AI, GPUs, and electric vehicles. Meanwhile, niche players like Super Micro (3.38%) and MicroStrategy (3.35%) highlight growing interest in specialized sectors such as data centers and Bitcoin exposure. Other giants like Alphabet (2.57%), AMD (2.53%), Microsoft (2.17%), and Amazon (2.15%) showed sustained investor confidence in cloud computing, digital advertising, and e-commerce. Broadcom (1.86%) maintained a solid position, underscoring the continued importance of semiconductors. The top 10 most sold stocks during 2024 were Sea Limited (SE), Allegro Microsystems (ALGM), Fiverr International (FVRR), Etsy (ETSY), DocuSign (DOCU), RingCentral (RNG), Apple (AAPL), Veeva Systems (VEEV), Verizon Communications (VZ), and Exxon Mobil (XOM). ETFs also popular options ProShares UltraPro QQQ (TQQQ) had the highest investment amount by Indians, followed by Direxion Daily Semiconductor Bull 3x Shares (SOXL) demonstrating significant interest in leveraged ETFs. These ETFs aim to amplify returns through the use of leverage, making them suitable for short-term traders looking to capitalize on market movements. Invesco QQQ Trust (QQQ), Vanguard S&P 500 ETF (VOO) and iShares Bitcoin Trust (IBIT) were other ETFs featuring in top 5 ETF investments from India. The internal data shows that investments from Indians are spread across leveraged ETFs like TQQQ, SOXL, and SPXL, as well as traditional ETFs like QQQ and VOO, highlighting a balanced approach to risk and reward.
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