Van Gundy Returns, WWE Falls: Sports Business Wrap For The Week
Stan Van Gundy Heads To Detroit
After being out of the game for two years, Stan Van Gundy will be joining the Detroit Pistons. He became the team's head coach and President of Basketball Operations, something just two other franchises can claim (San Antonio Spurs, Los Angeles Clippers).
The deal is worth $35 million over five years. Van Gundy last coached in Orlando and Miami and has won over 60 percent of his games as an NBA head coach, including one Finals appearance. Detroit has not had a winning season in six years. The Pistons earlier this year said good-bye to franchise mainstay Joe Dumars.
Dumars played for the team from 1986-1999, and joined the front office shortly after his playing days.
Related: What Led To WWE's Smackdown?
During Dumars' 14 years in charge, the Pistons hired eight different head coaches. At his opening press conference, Van Gundy stressed the unity and connection between front office and court he hopes will come from his unique position. Michael Sam Joins Oprah...Maybe
The first openly gay player ever drafted may be seen on the Oprah Winfrey Network (OWN). Michael Sam was taken by the St. Louis Rams in the seventh round of the NFL Draft, and Oprah planned to document his journey in a "docu-series" for the network. Those plans, however, have been temporarily shelved.
It was reported on Friday that the film crew will not be following Sam as he tries to make the team -- something difficult for anybody drafted in the final round, let alone a player with such media attention already.
A Closer Look At... WWE
WWE (NYSE: WWE) caught the proverbial powerbomb on Friday. Following the announcement of a new television contract on Thursday afternoon, the stock dropped 50 percent in Friday's pre-market trading. WWE closed the day at $11.27, an $8.66 loss over 24 hours. The stock is down 32 percent year-to-date.
Tweet Of The Week
Sports Illustrated reported that Donald Sterling will not pay the $2.5 million fine he was assessed by the NBA. The embattled Clippers owner has also threatened to sue the league. This also comes after what many say was a disastrous public relations move -- Sterling's sit-down interview with CNN's Anderson Cooper that aired on May 12.
@Gbnf4life Sterling literally does the opposite of what seems like the right move at every step, IMO. But he's worth $1.9B and I'm not, so..
— Michael McCann (@McCannSportsLaw) May 16, 2014
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.