Y! Sports Biz: MJ's $12.3 million jersey

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Y! Sports Biz: MJ's $12.3 million jersey

Wed, Sep 30, 2026 ·

10 min read

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👋 Welcome to Wednesday.We escaped the summer sports doldrums for packed schedules like last night's. Let's run it back!

In today's edition:Rare air for MJ's jersey, don't bet the House on the PCSA, independent commission "sham"-dunks on City, NHL valuations skate higher but local TV business melts, the Juice isn't worth the celebratory squeeze, and more.

Time to show you the money...

🏀 MJ raises his own bar

Michael Jordan's game-worn jersey from Game 3 of the 1998 "Last Dance" NBA Finals sold at JOOPITER last night for $12,260,000, becoming the most expensive basketball jersey ever sold.

Books rewritten:His jersey from Game 1 of that series previously held the record. It sold for $10,091,000 in 2022. The record for any sports jersey belongs to Babe Ruth's "Called Shot" jersey , which sold for $24,120,000 in 2024.

Modest leap:The jersey received only one bid. Given the explosion in activity at the high end of the sports memorabilia market, the margin of improvement over the record set four years ago for a comparable jersey feels… relatively modest? It's almost impossible to comprehend when compared to the $8 million paid for Cooper Flagg's Debut Patch card last week.

Time for a wildly lopsided poll:Which would you rather have? Click to vote below:

A) Jordan's 1998 Finals Game 3 Jersey for $12 million

B) Flagg's Debut Patch Autograph card for $8 million

Your vote will be recorded once you click. We'll share the results Friday.

🎓College sports leap closer to protective custody

Politicians on both sides of the Senate aisle have declared their overwhelming belief that college sports require protection from Congress. But theirs is only one vote of support in a process that could become even more turbulent.

ICYMI:The Protect College Sports Act passed the Senate on Monday night , with remarkably bipartisan support delivering a lopsided 77-22 vote in favor.

What does it say: The bill aims to codify long-term solutions to the myriad hot-button issues that have sown chaos across the college sports landscape.

Revenue-share cap:On top of the approximately $21 million in revenue sharing allowed under the House settlement, schools will have an additional $22.5 million retention fund for existing players and a $5 million pool for women's and non-revenue sports.
Third parties:Multimedia rights companies and third parties (i.e., apparel sponsors) must certify that the school did not fund NIL compensation for athletes (even by foregoing funds), nor negotiate or determine the amount paid to athletes.
Eligibility:Codifies the NCAA's policy allowing athletes to compete for five calendar years beginning at the sooner of the date of enrollment or the start of the academic year following the athlete's 19th birthday.
Transfers:Undergraduate athletes can transfer only once without sitting out a year (graduate students can transfer without delay). All players can transfer without restriction if, for example, there is a head coaching change or their school discontinues their sport.
Antitrust exemption:The NCAA receives a limited antitrust exemption to enforce the compensation, transfer, and eligibility rules.
Conference expansion:Power conferences can't expand beyond 20 schools, and schools must go independent for three years before switching conferences. The latter provision sunsets in six years (conveniently coinciding with the expiry of existing media deals).
Media rights:Schools can pool their media rights, provided 75% of FBS schools agree to participate. This cannot happen until existing deals expire.
Coaches:Football coaches cannot change jobs mid-season, though they can accept a new job. An amendment to cap their compensation and further restrict their movement failed.

Don't bet the House:The bill now moves to the House, where there is abundant uncertainty both about the timing of a vote and the prospects of passage. A vote is unlikely before the midterms, and results at the ballot box could impact the appetite for one. Yahoo Sports' Ross Dellenger reports several other stiff challenges await in the House, with myriad concerns threatening support (including employment status and realignment gripes).

Buckle up:The PCSA cleared a historic hurdle, but the political jockeying in the public eye may only be at its beginnings.

Go deeper: After Senate passes Protect College Sports Act, does it have a chance in the House?

⚡Lightning Round

⚽️ Prem confirms City found guilty:The Premier League confirmed that an independent commission has found Manchester City guilty of all charges related to serious breaches of the league's financial rules. According to the league's statement , the commission found that City arranged "sham" contracts with commercial partners largely funded by its ownership, artificially inflating revenues and reducing costs by more than £900 million over nine seasons.

🏀 Vegas expansion process nears conclusion:The NBA is nearing its selection of the winning bidder for the league's Las Vegas expansion franchise, per ESPN. Between the expansion fee and the cost of a new arena, the price could reach $12-$13 billion. The three finalists include groups led by Nancy Walton Laurie and Bill Laurie, Steve Apostolopoulos and Marc Lasry, and Bill Foley and Jerry Colangelo.

🏈 Mixed news for NFL's international games:The Ravens' last-second victory over the Cowboys in Rio de Janeiro averaged 24.9 million viewers on Sunday, becoming the most-watched international NFL game in history. However, the NFL is slashing prices for this weekend's Commanders-Colts game in London, as about 2,000 seats remained unsold.

See what else is trending on the Yahoo Sports Business Hub .

🏒 The puck dropped, valuations didn't

Before the season's first puck dropped on Tuesday night, Kurt Badenhausen and the team at Sportico released their NHL team valuations . Unlike the puck, none of those dropped.

By the numbers:The average NHL team valuation is $2.43 billion, up 16% from the prior year. The teams are worth $78 billion collectively.

Most valuable:Maple Leafs, $4.8 billion.
Least valuable:Blue Jackets, $1.5 billion.
Biggest gainer:Islanders, +40%.*

In good company:NHL team valuations have grown 160% over the last five years, trailing only the NFL's 166% among the big four leagues and climbing into competition with MLB. The NHL's lowest team valuation (Blue Jackets, $1.5 billion) is now slightly higher than the lowest in Sportico's MLB rankings (Marlins, $1.45 billion). The NHL's appeal has increased in part because of a comparatively stable and ownership-friendly CBA.

*The Islanders recently reached an agreement to sell approximately 15% of the team to multiple investors at a $3 billion valuation, according to Sportico.

📺 The NHL's answer for melting ice

The defending Stanley Cup champions were one of several teams that had to find a new local broadcast home this offseason. (Jaylynn Nash/Getty Images)

The sharp, consistent rise in NHL valuations underscores the health of the league's business. But a shaky local media environment has melted one core revenue stream.

So long, Main Street:Main Street Sports' collapse at the conclusion of last season left seven franchises searching for new regional broadcast homes. NBA and MLB teams were similarly imperiled by the company's shuttering, which is emblematic of the declining viability of the cable business amid sliding subscriber counts.

Centralized production:The NHL has stepped in, launching centralized production for local broadcasts, which six teams will use this season. Distribution for their games takes a few forms.

The league negotiated cable distribution of team networks with Spectrum for the Blues, Blue Jackets, Hurricanes, and Wild. The league also reached a distribution agreement with FuboTV for those regional sports networks (RSNs).
Though the Ducks and Stars will broadcast select games over the air for free, their primary distribution will be streaming on Amazon Prime Video, where the teams above will also stream their games.

Streamers skate in:RSN turmoil has created an opportunity for streaming platforms to convert loyal local fans into sticky customers. Their land grabs come as the NBA and MLB mull the eventual centralization of local rights at the league level.

For those teams leveraging the NHL's centralized production services, local games will be available in-market via Amazon Prime Video, the result of an exclusive DTC streaming agreement . Prime Video was already the Kraken's DTC streaming home.
DAZN became the exclusive in-market DTC streaming home for MSG Networks. The deal brings the Rangers, Devils, Islanders, and Sabres onto the platform, joining the Kings. DAZN is also the league's exclusive international streaming platform and has added several NBA teams.

Bumpy ride:While some teams enjoy the stability of RSNs they (or their owners) own, stability is becoming more the exception than the rule. Several franchises abandoned the RSN model in the years before Main Street's implosion, mostly by necessity. The tumult caused by that saga is no anomaly, but rather a reality of a local media and cable landscape in the midst of a long and painful transition.

Bottom line:The teams impacted by Main Street won't be the last to lose their broadcast homes, and, crucially, the lucrative fixed fees that came with them. New, eat-what-you-kill models won't soon replace those economics. As a result, the local media landscape looms as one of the greatest business uncertainties for several leagues, and stasis does not appear imminent.

🤝 Patch things up

(Stacy Revere/Getty Images)

The 76ers made headlines with their new Bloom Energy patch sponsorship on Monday, but three other NBA teams have announced new patch deals in recent days: the Bucks (Uline), Suns (Paze), and Nets (Alibaba).

Patch things up:We have removed the Bucks' and Suns' prior patch sponsors from the photo above. Can you name them?

Hint:Phones and payments.

Answer at the bottom.

🍻 Money in the Celly Jar

The man they once called "Juice" will have to be renamed "Beer." The NFL has seemingly decided that chug celebrations can't possibly mime the consumption of a more wholesome imaginary beverage.

ICYMI:The NFL fined Kyle Juszczyk $14,926 twice for engaging in "offensive demonstrations" in a Week 2 win over the Dolphins. The offensive demonstration in question? Imitation of beer chugging. By a man whose contributions evoke united cries of "JUICE!" from the 49ers faithful. Juszczyk vehemently contends that's what he was fake-drinking, not beer.

Shaky defense:Other players who incurred similar fines (yes, there are multiple chuggers!) can't use the nickname shield.

The Cowboys' Jake Ferguson was fined $13,611 for shotgunning the football. You rarely see juice — or any liquid other than beer, really — shotgunned, weakening any potential justification.
Colts' guard Matt Goncalves was docked $8,847 for his chugging celebration. He suggests it was an ice-cold Coca-Cola, but "Coke" isn't embedded in his name. Probably for the best. Not to mention, Pepsi is the league's official soft drink sponsor.

Own the moment:Bud Light, the official beer of the NFL, cracked open a can of timely marketing, establishing a "Celly Jar" with $37,384 in rebates available to fans, equaling the combined chugging fines. The NFL might have to flag its partner for taunting.

(Stacy Revere/Getty Images)

Patch Things Up answer:Motorola (Bucks) and PayPal (Suns). In terms of cool factor, it's been all downhill since the Bucks and Harley-Davidson parted ways…

Thanks for reading! Wanna talk shop? Follow me on X and Linkedin , or drop me a line: dylan.dittrich@yahooinc.com .

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