Sunday, February 26, 2017

"Inside the ugly breakup of Sports Illustrated, The Cauldron, and Chat Sports"

Earlier this month, Sports Illustrated abruptly ended its partnership with The Cauldron, an independent sports blog that had a modest but devoted readership, and had made waves with a number of viral posts written by pro athletes like Steph Curry. The breakup was covered in straightforward fashion by a few sports and media blogs.

But there’s much more to the story: impersonations, fake emails, and a forged term sheet.

It is a convoluted tale, but worth climbing down the rabbit hole. It’s the tale of a sports media acquisition gone very wrong, and how the broken deal ensnared a number of big-name media companies and venture capitalists along the way.