In other news, former Secretary of State Condoleeza Rice will head the committee overseeing changes in the NCAA.
Russia proposed Moscow, Saint Petersburg, Samara and Volgograd as possible hosts of the games.
In other news, Valero Energy extends sponsorship of the PGA Tour's Texas Open.
The NBA All-Star team captains will now pick their teammates, eliminating the Western versus Eastern Conference format.
The champions of World Series will receive the biggest playoff bonuses accumulated from postseason gate receipts.
Announced this week are the new NBA lottery format, Chicago as Laver Cup host and Amazon's live streaming of games.
Tanking might be an option but it is not the key to success.
New York Knick's Carmelo Anthony will head to Oklahoma City Thunder while NBAPA creates a separate business unit.
The five stories you need to know about sports business include Golden State Warriors, Pac-12, CFL, Lady Vols and College GameDay.
Here are the five latest things you need to know this week in the world of basketball.