Sports, Easy Money and the Crypto Collapse
Why big-time sports decided to soak the customer
Why were sports leagues so quick to accept sponsorships from shady crypto companies? On its face, that part is simple, and is best summed up by Clay Davis: “I'll take any motherfucker' money if he giving it away!”
But why did crypto want into the sports industry? Why were these newfangled companies willing to overpay to such an extent? These answers reveal quite a bit more about sports entertainment customers, a cohort the leagues were only too happy to see squeezed. And why were the leagues happy to see this? Well, we’ll get into that.