Britney Spears' conservatorship 'is a sinking ship' at this point: Legal expert

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ABC News 13 July, 2021 - 09:05pm 33 views

Why is Britney Spears in a conservatorship?

In 2008, Jamie Spears was granted the conservatorship after Britney purportedly struggled with mental health issues and was hospitalized. After Britney was released, a Los Angeles court made the conservatorship permanent, giving her father and another co-conservator power over her finances and medical decisions. CBS NewsBritney Spears' conservatorship, explained

‘This is a really great opportunity for student athletes’: Sandra Richards on the NIL bill

Yahoo Finance 13 July, 2021 - 12:38pm

SIBILE MARCELLUS: Welcome back to "A Time for Change." It's been about two weeks since the NCAA announced that college athletes can finally profit off of their name, image, and likeness, which is often referred to as NIL. And we're already seeing some very lucrative deals even for athletes who haven't even played their first college game yet. But how do they manage that financial windfall and figure out which partnerships to make? I sat down and spoke with Sandra Richards, managing director of Morgan Stanley's Global Sports and Entertainment Division, about how her team is helping college athletes figure this all out.

SANDRA RICHARDS: Financial education is the cornerstone of what we do in our Global Sports and Entertainment Business. So we're able to go out and offer our programs, especially to these college athletes who are getting opportunities that they're seeing that could be from 10,000 to, you know, 100-- or I mean, we saw a $2 million contract. But what do you do with that? How do you ensure that you're preserving what you're getting at this time while you're in college? You know, you're probably not even thinking about that. But that's something that we want to make sure that these college athletes have the information at hand and make an informed decision when it comes to their finances.

SIBILE MARCELLUS: And going forward, will college athletes make up a significant portion of your business?

SANDRA RICHARDS: It remains to be seen because it's still pretty new. And you have a number of headlines where you're seeing these big deals come across. But that is still for us to determine in the future. But in terms of from a client base or even just supporting these college athletes, while they may not be clients now, it is still imperative to us that they are still getting out on the right financial footing, whether they're going to go off and go on to a professional career, or they're going to go into corporate America or be entrepreneurs. We still want them to be armed with the right information.

SIBILE MARCELLUS: Well, is now kind of like the wild west when it comes to college athletes' earnings? Or is the infrastructure in place if they get that big break to sign, for example, a multimillion dollar deal?

SANDRA RICHARDS: I mean, it is interesting just, again, to watch the headlines, just like everyone else, about the varying of the deals, the level of the deals, the types of deals that these student athletes are getting. When we think about these student athletes, again, it is important to us that they are armed with knowing how to navigate not only just the deals that are coming to them, but putting their team in place.

Who do they need to have? Do they need to have a financial advisor? Do they need a CPA? Do they need an attorney? So it's the education, but also building the team around them to help them navigate through what is, as you said, the wild, wild west. You need some help in navigating that space, especially you have this new.

SIBILE MARCELLUS: And you said about building a team. So Morgan Stanley helps college athletes with that. But when do you decide to actually take them on as clients? Is it after they've signed a deal worth thousands or millions of dollars, or is it before? What's your threshold?

SANDRA RICHARDS: Well, there are some stipulations where it comes from the rules with the college-- the colleges and universities, as to when a financial advisor can really engage. And we're still waiting to see how those rules start to play out. But typically, right now, in this phase, we're more of offering a service, which is focusing on financial education. Typically, with college students, prior to the NIL, it was when they were declaring for the draft, whether it was the NFL, NBA, WNBA, and the like. So it's still yet to remain seen how the rules are going to play out. But for right now, we're just offering the service of financial literacy and education to these players.

SIBILE MARCELLUS: Football and basketball are the traditional moneymakers when it comes to college sports. Will this impact other athletes?

SANDRA RICHARDS: Absolutely, I think that if you-- certainly if you have a brand, when you think about social media and the following that volleyball players and lacrosse, I think that there's a wide open opportunity for these athletes to make money, either in local endorsements, national endorsements, regional types of businesses, trying to engage these student athletes. I think there's the world of opportunity is going to be open to others outside of the NFL or football and basketball.

SIBILE MARCELLUS: So how do you position your athletes for their wealth to grow over the long term versus a big payday?

SANDRA RICHARDS: So really, I mean, before you-- I would say that our advisors are hooked in having these conversations with the athletes and their clients in that what do you-- what are you in this for? What are you trying to achieve? What is your end goal? And so no matter what deals are coming to you, you can determine, is this the deal right for my brand? Is this going to help me to get to my end goal quicker or slower, faster? But at the end of the day, it's putting the plan in place. What is your plan? What do you want to ultimately achieve? Then you can navigate through and look at how these deals can help you get to your ultimate goals.

SIBILE MARCELLUS: And what are the financial implications for college athletes trying to make money right now, but hoping to turn pro?

SANDRA RICHARDS: Well, one is just making sure that you understand the opportunity that's at hand in terms of when you get these deals, understanding how to ensure that you don't get caught up in some tax issues of not paying taxes and all the other things that come along with making money and becoming a brand and endorsing certain brands and how you are paid. Understanding the difference between a W-2 and a 1099, like what does that mean?

I think this is a really great opportunity for these student athletes. And these college athletes at this time, especially in an age of social media and the opportunity that they have, is just make the best of it. Make the most of it. And how to make the most of it is making sure that you're clearly informed and educated about the opportunities.

SIBILE MARCELLUS: Make the most of it, but what about those traps? What advice do you give to college athletes to avoid those traps that are out there?

SANDRA RICHARDS: So that's when you have, like, that team that I talked about earlier, is constructing that team and helping that team to help you navigate, whether it's your press person or your media person. Is this the right brand I should associate myself with? When you talk to your financial advisor, I have this opportunity. They gave me a 10-year deal. Is this right? And how the payout structure is, is this right? Talk to your accountant. Is this a great opportunity for me? Is this locking me in?

And certainly, having the legal team reviewing all documents before you sign it. Look, it can be a situation where you can be caught up in some situations that can't be-- you can't unwind. But again, education helps you to look at things. And time, time is on your side that you don't have to rush because somebody put a deal in front of you. Take your time. Look at it, and evaluate it. And talk to your team.

SIBILE MARCELLUS: NCAA has also talked about possibly having some kind of federal law to kind of oversee how different states deal with this issue. What's your take on that?

SANDRA RICHARDS: Well, you know, it could be interesting. Because if you look at-- if you just have, like, a top of the house mandated law that everyone is governed by, then, you know, if you take a school that allows a student to wear their intellectual property during a brand deal, where another school probably doesn't do that, then is the school going to have a competing war for recruiting? Is everybody on the same playing field?

So I think that those are some of the things that the NCAA is certainly, I'm sure, is having those conversations, is that the schools end up being the playing field that you don't have your schools or your conferences going at each other when things are uneven.

UPDATED, 8:20 PM: Rob Zombie took to Instagram on Tuesday to tease his upcoming adaptation of The Munsters, by sharing the blueprint for a key set. The diagram he shared offered a glimpse at the Munsters’ house on Mockingbird Lane. “The blueprints are done! Time to start the construction,” the director wrote. “Get ready for the most perfect […]

For its part, Team USA has an impressive lineup across a variety of sports, from gymnast Simone Biles, to soccer player Megan Rapinoe, to basketball star Kevin Durant. Of course, if you have cable, you can watch the more than 7,000 hours of coverage of the games on NBC. NBCUniversal’s streaming platform, Peacock, will stream all major events like gymnastics, basketball, and track and field.

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‘We’re focused on what we can control’: Daryl Homer on handling coronavirus at the Tokyo Olympics

Yahoo Finance 13 July, 2021 - 12:31pm

SIBILE MARCELLUS: Welcome to "A Time for Change." I'm Sibile Marcellus here with Alexis Christoforous. The Tokyo Olympic Games are happening next week, just a year after they were postponed because of the pandemic. Athletes are competing in 33 sports, including fencing, and that's where we begin today.

ALEXIS CHRISTOFOROUS: That's right. Our first guest is a two-time Olympian, soon to be three-time, who will be representing the US in fencing. Daryl Homer won a silver medal in the 2016 Rio Games, the first fencer to do that in 117 years. And in a sport that has a reputation for being white and wealthy, Daryl homer is neither. Born in the Virgin Islands, he grew up in the Bronx with a single mom who supported his dream to enter the sport of fencing.

And we are delighted to have Daryl here with us today. Hi Daryl, good to have you here. I know it is the countdown to your third Olympic games. Tell us what you're feeling right now, especially after having to wait another year to do this because of the pandemic. And what's it going to be like being there with no fans in the stands this time?

DARYL HOMER: Well, first of all, thank you for having me. I am actually in LA. I just finished a session, and I'm going back into a session after I'm done this interview. But I mean, we're all very, very excited going into this Olympic Games. It's been a year delayed.

It was a tough year, but we are just very happy to kind of be going towards the games. And it's going to be a very, very different experience given there are no fans and given that the COVID restrictions, and we won't be able to move around the city. But we're all very, very excited for this games, and I'm looking forward to trying to achieve on a high level.

SIBILE MARCELLUS: Well, Daryl, what are the pandemic safety requirements like in Japan right now? When you're not competing, do you have to still wear a mask? Do you have to social distance? And what about when you're in the arena?

DARYL HOMER: Yeah. So I mean, we are still getting details on that. But we know we won't be able to-- normally the Olympics is an experience where you kind of explore the city and you-- you enjoy the culture. This is going to be kind of a bubble-type situation, COVID testing every day, no fans obviously. They're asking us to wear a mask in the village as well.

So I mean, we're going to figure out a lot on the ground. I'm actually one of the earlier events so it'll be very interesting to kind of be a-- I'll be testing everything as it happens pretty much. But I think the main things we're focused on is just what we can control, and that's just how we can perform and kind of weather through all of these storms.

ALEXIS CHRISTOFOROUS: That's pretty smart and said like a veteran, concentrate on the things that you can control. Hey Daryl, I want to talk about when it all started for you. You got an interest in fencing at a young age. You were around 10 or 11 years old. And at the time, there weren't a lot of people who looked like you in the sport. In fact, fast forward to today, and there are few Black people in fencing at the professional level. Why do you think that is, and what are some of the barriers to entry for people?

DARYL HOMER: Yeah. You know, so I actually want to kind of shine a light on-- there are many more Black fencers than people give credit to. I think that that's like a stereotype and that's a misunderstanding. The sport historically has been inaccessible. But specifically where I am in New York City, the Peter Westbrook Foundation has done an incredible job from 2000 really. They've had Olympians on the team primarily from the Bronx, Brooklyn, Queens, Newark, New Jersey, from the inner city.

And Peter Westbrook, that was really his vision. He was the person who won the medal. He won a bronze medal in 1984 in the same discipline I did, men's sabre. And it's created a program that's really changed the global complexion of the sport, so all praise due to Peter. But I actually grew up not seeing many Black fencers.

I saw Keeth Smart preparing for the '04 Games. I saw Akhi Spencer preparing for the 2000 Olympic Games, Erinn Smart and Keeth Smart winning medals in the 2008 games. So in a way, we have this fraternity or sorority that really is just a legacy that is being passed down. And around the world, the program's known, and our success is known, and we're just hoping to achieve the same thing going into Tokyo.

[? SIBILE MARCELLUS: ?] Olympic Games can mean big sponsorship dollars. Is that true for fencing, Daryl?

DARYL HOMER: Yeah. I'm blessed. I'm one of the few-- I mean, the Olympic Games means big sponsorship dollars for very few athletes, first of all, is really where we should start. But in fencing, I work with Toyota. I work with Ralph Lauren quite deeply. I also work with Lululemon. I've worked with Nike in the past, Dick's Sporting Goods.

So I've actually been on the more positive side of the sponsorships, and I'm blessed for that. So shout-out to Toyota obviously, Team USA, and shout-out to Ralph Lauren as well. Really excited to make you guys proud in Tokyo.

ALEXIS CHRISTOFOROUS: Those are awesome sponsorship deals, Daryl. And I'm wondering what-- what your plan is in terms of dealing with your finances. I mean, there's enough to deal with there within your sport and trying to-- I know, go for the-- go for a medal this time around again. But when it comes to your money and to investing the money from these endorsement and sponsorship deals, do you have a philosophy there?

DARYL HOMER: Yeah. You know, I'm lucky. I have very, very good family friends who advise me. I'm someone who looks at consistent long-term growth. So I'm invested in value stocks over time, growth funds. RTTF was something I looked at. Obviously, that's taken a little bit of a hitting in the past kind of six months but [INAUDIBLE] funds is always something great for me as well. So I just try to look at things that are valuable over time, that can help me have growth over time. I'm not really a fast, quick, easy guy.

SIBILE MARCELLUS: And you obviously like to give back. So tell us about your involvement with the fencing in the schools program. How does fencing help kids from impoverished backgrounds?

DARYL HOMER: Yeah. I mean. so right now, I mean, the main nonprofit that I'm partnering with is the Peter Westbrook Foundation. I still represent them as my primary fencing club. And like I said, Peter has done an amazing job of taking kids like me from the Bronx, Brooklyn, Queens, and it's empowering us, and giving us a strong background in education and personal character development, and also in the sport.

So I'm beyond grateful for all the work that we're doing. I've gone from being a kid in the program looking up to Olympians to being the Olympian that kids look up to. So it's very-- it's a very deep experience. It's a very powerful experience, and I think it's something that I wish more people did and took part in.

ALEXIS CHRISTOFOROUS: Absolutely. Mentorship is such a powerful thing, Daryl. You are looking at your third Olympic Games in less than two weeks. What are some of your personal goals for these games, and do you think there might be a fourth Olympic games in your future?

DARYL HOMER: Yeah. I think one of the only positive thing about this game being delayed a year is that the next game is in three years. Right? So it gives you a shorter-- gives you a shorter runway into the next one. But as I look to my third Games, I just kind of want to take the culmination of all the experiences that I had in the first two and over the five-- last five years really, and the growth I've had as a person, and bring that onto the strip and see how I can perform.

Obviously, I won a medal at the last games, and that's the goal deep, deep inside of me. But as an athlete, we all know that to perform on a high level, you have to free yourself and allow yourself to not give in to the pressure. So right now, it's really, really, really just me going into training every day focused, relaxing a lot outside of that, and just gathering my mind, my emotions, my thoughts, and my physical ability in one, and hoping for a great day.

SIBILE MARCELLUS: And Daryl, you've written about how there's no other place where you've been able to challenge yourself as much as in sports and in fencing. But what about the workplace? How does it apply there?

DARYL HOMER: So I-- I worked for three years when I graduated from college. I started the day after I graduated in advertising at a big agency in New York City called Anomaly. Great, great, great time. I think that taught me a lot about preparation. I think, as athletes, many times we're used to systems being created for us to succeed, but it was different being in a workplace where you're kind of anonymous, and you have to contribute to a team. Right?

So I thought that that experience really taught me the value of teamwork and how to work better with my teammates within fencing. But you know, I think that-- I think that yeah, I think the Olympics as a whole, it really breeds a character in you that can be beneficial in any environment. We're pushing ourselves to the highest level every single day, and the work we do is from our hearts, you know? We're doing this to push ourselves. So I think that that's beneficial in every workplace.

ALEXIS CHRISTOFOROUS: For sure. And from what I'm hearing, you're not ruling out participating in the 2024 games, huh, Daryl?

DARYL HOMER: Definitely not, definitely not. I think the fencing venue will be the Grand Palais, so how do you turn that down?

ALEXIS CHRISTOFOROUS: Awesome, awesome. Well, we are excited to see you compete at the highest level representing the US in just about a week and a half there in Tokyo. Daryl Homer, Olympic fencer, best of luck to you. Thanks so much for making time for us.

DARYL HOMER: No, thank you for having me today and thank you for the good luck.

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For its part, Team USA has an impressive lineup across a variety of sports, from gymnast Simone Biles, to soccer player Megan Rapinoe, to basketball star Kevin Durant. Of course, if you have cable, you can watch the more than 7,000 hours of coverage of the games on NBC. NBCUniversal’s streaming platform, Peacock, will stream all major events like gymnastics, basketball, and track and field.

Shohei Ohtani will be the American League’s starting pitcher in Tuesday’s night’s All-Star Game and will bat leadoff, too, as the designated hitter in another landmark for the two-way Japanese sensation. A 27-year-old in his fourth major league season with the Los Angeles Angels, Ohtani is the first two-way starter in the history of the All-Star Game, which began in 1933. “I was actually not expecting to be chosen as a pitcher at all,” Ohtani said Monday through a translator.

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Britney Spears Conservatorship

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