First NIL partnership: Phorm Energy, an energy drink line produced by Anheuser-Busch with the backing of 1st Phorm and Dana White, recently announced its first-ever national name, image and likeness partnership with LSU football standouts Whit and West Weeks. The long-term collaboration will spotlight the Weeks brothers as the faces of the brand’s activation in collegiate football across digital, retail and game day platforms. View the full announcement.
Splitting up: Kraft Heinz is preparing to split into two companies, undoing much of the 2015 merger engineered by Warren Buffett and Brazilian private equity firm 3G Capital Partners. A deal could be announced as soon as next week. The Wall Street Journal reported in July that Kraft Heinz was planning to spin off a significant portion of its grocery business, including many Kraft-branded products, into a new company valued at up to $20 billion. The remaining company would retain products such as Heinz ketchup and Grey Poupon mustard. Read more from The Wall Street Journal.
Record year predicted: Americans are expected to wager a record $30 billion this NFL season through legal gambling, an 8.5% increase from last year, according to estimates from the American Gaming Association. The most prominent players in the space, FanDuel and DraftKings, are facing growing competition from BetMGM and Caesars. Other companies looking to get in the game include online broker Robinhood, which teamed up with Kalshi to offer football prediction markets. Read more from CNBC.
Editor’s Note: Daily Report will not be published on Monday, Sept. 1. Daily Report will return Tuesday, Sept. 2. Have a safe and happy holiday.
