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What Sector Rotation Says About the Market Cycle Right Now

Stock 1 Min Read

Where are we in the market cycle? In this video, Julius reviews the sector rotation and asset class performance from the past 2-3 weeks to provide an objective take on where we stand in the current market cycle. Using his signature Relative Rotation Graphs (RRG), he uncovers shifts in momentum and leadership across sectors and asset classes.

This video was originally published on May 15, 2025. Click on the icon above to view on our dedicated page for Julius.

Past videos from Julius can be found here.

#StayAlert, -Julius

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Westport Publishes Annual General and Special Meeting Results

Investing 2 Mins Read

Westport Fuel Systems Inc. (‘Westport’ or the ‘Company’) (TSX:WPRT Nasdaq:WPRT), today held its Annual General and Special Meeting of Shareholders (the ‘Meeting’) in a virtual format. Shareholders approved all resolutions presented at the meeting including the election of all nominated directors for the ensuing year, the appointment of KPMG LLP as the Company’s auditors for the fiscal year, the advisory vote on executive compensation, and the sale of Westport Fuel Systems Italia S.r.l in accordance with the terms of the sale and purchase agreement dated as of March 30, 2025.

A summary of the results are as follows:

Resolution Outcome
of Vote 		Percentage of
Votes For 		Percentage of
Votes
Withheld/Against
Election of Directors
Michele Buchignani Approved 81.22% 18.78%
Anthony Guglielmin Approved 87.16% 12.84%
Daniel M. Hancock Approved 61.47% 38.53%
Daniel Sceli Approved 91.10% 8.90%
Karl-Viktor Schaller Approved 61.28% 38.72%
Eileen Wheatman Approved 81.43% 18.57%
Appointment of Auditors Approved 93.83% 6.17%
Executive Compensation
(Advisory Vote) Agree 52.87% 47.13%
Sale of Westport Fuel Systems Italia S.r.l Approved 83.38% 16.62%


About Westport Fuel Systems

At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com .

Investor Inquiries:
Investor Relations
T: +1 604-718-2046
E: invest@wfsinc.com

News Provided by GlobeNewswire via QuoteMedia

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Top 10 Gold Reserves by Country

Investing 11 Mins Read

Gold is one of the most important metals on the planet. For millennia it has been used in jewelry, art and currency, capturing the collective imagination as a thing of wonder. Gold’s association with royalty and wealth has inspired explorers and treasure hunters alike, who put themselves at risk for a chance to strike it rich.

Today, gold’s hold on us as a precious metal is no less powerful. Still used for jewelry and as a store of wealth, the metal also has a variety of modern industrial and electronic applications.

Even though gold seems to be everywhere, in reality it’s a finite resource. Only 244,000 metric tons of gold have ever been mined, and two-thirds of that has been extracted since 1950. Comparing that amount to the more than 700 million metric tons of copper that have been pulled from the ground provides an idea of how precious a resource gold truly is.

For investors interested in the yellow metal and the companies that mine it, it’s important to understand global gold reserves. This data can provide critical information on the long-term viability of supply and which countries have room to grow.

Data for this article comes from the most recent Mineral Commodity Summary from the US Geological Survey as well as Mining Data Online (MDO).

Although gold is often measured and discussed in ounces, the USGS uses metric tons for its gold data, so this article will contain a mix of the two measurements. For perspective, 1 metric ton of gold is equal to 35,274 ounces and worth US$116 million at a price of US$3,300 per gold ounce.

According to the US Geological Survey, identified economic gold reserves currently stand at 64,000 metric tons globally. This is a significant jump from 59,000 metric tons in the previous report, with reserves for many countries revised to the upside. Read on to learn about the top 10 gold reserves by country.

1. Australia

Gold reserves: 12,000 metric tons

The sixth largest country by land area, Australia is tied for the most gold reserves of any nation at 12,000 metric tons, with over 60 percent of its gold deposits located in Western Australia.

The mining nation is also one of the top producers of gold, digging up 290 metric tons of the metal in 2024.

Australia is home to many large gold mines, including Newmont’s (TSX:NGT,NYSE:NEM,ASX:NEM) Boddington and Cadia Valley operations, which produced 590,000 ounces and 464,000 respectively in 2024. It also hosts the Tropicana mine, a joint venture between AngloGold Ashanti (NYSE:AU) and Regis Resources (ASX:RRL,OTC Pink:RGRNF) that produced 426,000 ounces of gold.

1. Russia

Gold reserves: 12,000 metric tons

Russia has the largest land area of any country, and unsurprisingly is now tied for the top country for gold reserves, boasting an impressive 12,000 metric tons of gold. Its reserves were raised from 11,100 in 2023, but they mark an even more sizeable increase from the 6,800 metric tons of reserves reported for 2022.

Additionally, Russia’s gold output remained steady in 2024 with 310 MT extracted. Russia has several large gold mines, but none are more prolific than Polyus’ (MCX:PLZL) Olimpiada mine in the Krasnoyarsk Krai region of Siberia. According to the company’s most recent data, the mine produced 1.48 million ounces in 2024.

Russian gold is having difficulties reaching most markets following the country’s invasion of Ukraine. The London Bullion Market Association halted trading and removed Russian refiners from its accredited list in March 2022. However, a significant portion of the metal was exported to the United Arab Emirates following the sanctions, according to Reuters, and Russian gold has also made its way into the country’s stockpiles.

3. South Africa

Gold reserves: 5,000 metric tons

South Africa remains a powerhouse in terms of global gold reserves, and the country’s Witwatersrand Basin is among the top gold jurisdictions in the world.

Although South Africa remains comfortably in the top three countries for reserves with 5,000 metric tons, the country has lost some of its luster when it comes to production. At the turn of the century, South Africa was the top gold-producing country, with 431 metric tons extracted in 2000. The country’s output has slowly fallen in the decades since though, and has hit all-time lows in recent years — South Africa produced just 100 metric tons of gold in 2024.

One reason for lowered production is decreasing gold grades, which have led miners operating in the country to move to greater depths. In fact, eight of South Africa’s gold mines are among the world’s 10 deepest mines for any commodity, with AngloGold Ashanti’s (NYSE:AU,JSE:ANG) Mponeng gold mine topping the list at 2.4 kilometers to over 4 kilometers below surface. This has made industrial mining operations prohibitively expensive and more dangerous.

Harder to reach resources and high electricity costs have resulted in limited investment in exploration as companies looked to lower cost projects in other countries like Australia and Canada.

4. Indonesia

Gold reserves: 3,600 metric tons

Indonesia is home to 3,600 metric tons of gold reserves. The country jumped significantly from 2023, adding more than 1,000 metric tons to its reserves and climbing to number four on our list.

Indonesia is home to the Grasberg complex, one of the world’s largest gold operations and host to 23.9 million recoverable gold ounces. Operated by Freeport-McMoRan (NYSE:FCX), Grasberg includes several underground mines and the Kucing Liar deposit, which is currently being developed.

Once Kucing Liar is operational, Freeport expects it to deliver an additional 520,000 ounces of gold per year for 6 million total ounces between 2029 and 2041.

5. Canada

Gold reserves: 3,200 metric tons

Canada’s gold reserves total 3,200 metric tons, up 900 metric tons in the latest USGS report. Its gold reserves had previously remained constant since 2012 at 2,300 metric tons. The country has more than doubled its gold output in that time, jumping from 97 metric tons in 2012 to 200 metric tons in 2024.

Canada has a rich history of gold mining since the metal was first discovered in Québec in the early 1800s. Mining operations can now be found across Canada, but more than 70 percent of the country’s gold is produced in Ontario and Québec. Other significant producers are BC with 9 percent, the Yukon with 4 percent and Manitoba with 2 percent.

Canada has a number of very large gold mines, the largest of which is Agnico Eagle Mines’ (TSX:AEM,NYSE:AEM) Canadian Malartic Complex in Québec. The mine produced 689,000 ounces of gold in 2023 and hosts proven and probable reserves of 7.92 million ounces.

Because of its well-established natural resource sector, Canada is leading the way in sustainable initiatives to protect the environment and communities. The Mining Association of Canada’s Toward Sustainable Mining initiative has been adopted by organizations around the world, including those in Finland, Brazil and the Philippines.

6. China

Gold reserves: 3,100 metric tons

China’s importance as a gold miner has been growing over recent years and made significant gains, moving from number nine on our list with 1,900 metric tons in 2022, to number six with 3,100 metric tons in 2024. Additionally, China’s gold output ranks first overall globally with 380 metric tons of gold last year.

China’s gold-mining industry is dominated by state-owned operators. Some of the largest companies include Zijin Mining Group (HKEX:2899), which owns the Shanxi mine, the largest gold mine in the Shanxi province. The mine produced 107,700 ounces of gold in 2024.

Another of China’s largest companies is China Gold International Resources (TSX:CGG,HKEX:2099), which owns a 96.5 percent stake in the Chang Shan Hao gold mine located in Inner Mongolia, one of China’s largest gold mines. Chang Shan Hao produced 108,188 ounces of gold last year.

In addition to its high gold reserves and production, China also has a strong impact on the gold market through significant purchases by the People’s Bank of China in recent years. As of April 2025, the Chinese central bank holds an estimated 2,280 metric tons of gold.

7. United States

Gold reserves: 3,000 metric tons

Gold reserves in the US have remained steady at 3,000 metric tons since 2012. The country is home to well-developed infrastructure, highly experienced companies and an advanced workforce. However, over the last decade, production and refinement of the yellow metal in the US has been in decline, dropping from 230 metric tons in 2012 to 160 metric tons in 2024.

The largest gold-mining assets in the US are all owned by Nevada Gold Mines, a joint venture between Barrick Gold (TSX:ABX,NYSE:GOLD) and Newmont, and consist of Turquoise Ridge, the Cortez Complex and the Carlin Complex. Between them, the mines produced 3.03 million ounces of gold in 2023.

8. Peru

Gold reserves: 2,500 metric tons

Gold has been an important part of Peru’s economy for centuries. The country has a well-documented mining industry, and it ranks as one of the top nations in the world when it comes to gold reserves. Its gold reserves peaked in 2022 with 2,900 metric tons before falling to 2,300 metric tons in 2023. Peru’s gold reserves were back up slightly in this report, helping it to land at number eight on our list with 2,500 metric tons.

Peru’s gold production has remained consistent over the past two years at 100 metric tons.

Large players make up the bulk of Peru’s gold industry, with major miner Newmont leading the way at Yanacocha, the biggest gold mine in Peru. In 2024, output from the mine reached 354,000 ounces of gold, a significant jump from 2023’s 276,000 ounces.

There are also artisanal operations in the country, along with operations being run by criminal organizations. While environmental concerns are common in the mining industry, illegal and small-scale gold miners often employ mercury during the extraction process, which is very damaging to the environment.

To counteract illegal mining operations, the Peruvian government instituted Operation Mercury in 2019, which involved military interventions at illegal mine sites and the destruction of mining operations. For small-scale and artisanal mining, programs such as the Fairmined Ecological Gold certification exist to encourage environmentally friendly mining methods by introducing premium prices for gold that meets particular requirements. This also allows gold buyers to identify gold from legal operations that reduce the use of toxic treatments like mercury during the extraction process.

9. Brazil

Gold reserves: 2,400 metric tons

Home to the first modern gold rush over 300 years ago, Brazil currently has 2,400 metric tons of economic gold reserves. Brazil has an undeniable history with the precious metal, although its extracted only 70 metric tons in 2024.

The largest gold mine in Brazil is AngloGold Ashanti’s AGA Mineracao Operaation in Minas Gerais. In 2024, the mine produced 271,000 ounces of gold. New production also came online last year. G Mining Ventures (TSX:GMIN,OTCQX:GMINF) declared commercial production at its Tocantinzinho mine in September 2024, and the mine produced 63,566 ounces of gold by the year’s end.

Much like Peru, gold mining in Brazil has a darker side as well. Illegal operators, many of which have found their into mining through social media sites like YouTube and TikTok, are impacting both sensitive rainforest ecosystems and local Indigenous communities. Despite government crackdowns, new operations continue to pop up throughout the Amazon.

10. Kazakhstan

Gold reserves: 2,300 metric tons

Kazakhstan’s gold reserves total 2,300 metric tons, up a sizeable 1,300 metric tons compared to the prior year, a big enough boost to break into this top 10 gold reserve list.

The jump is owed to a significant increase in exploration, which saw 23 new deposits, including 20 metric tons of gold, added to the country’s subsoil registry. Launched in 2023, the registry has helped to streamline the exploration process and allowed modern technology to be applied to historical data sets.

Kazakhstan’s largest gold-mining operation is the Altyntau Kokshetau mine, owned by mining giant Glencore (LSE:GLEN,OTC Pink:GLCNF).

In its 2024 production report, Glencore stated that it produced 603,000 ounces of gold across all its Kazakhstan assets, the majority of which came from the Altyntau Kokshetau mine.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

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Trump Admin Fast Tracks Anfield’s Velvet-Wood Uranium Project in Push for US Energy Independence

Investing 4 Mins Read

The US Department of the Interior announced on Monday (May 12) that it will fast track environmental permitting for Anfield Energy’s (TSXV:AEC,OTCQB:ANLDF) Velvet-Wood uranium project in Utah

The decision slashes what would typically be a years-long review process down to just 14 days, and makes Velvet-Wood the first uranium project to be expedited under a January 20 statement from President Donald Trump. In it, he declares a national energy emergency and emphasizes the importance of restoring American energy independence.

This week’s decision signals what Anfield calls “a decisive shift in federal support for domestic nuclear fuel supply.”

The Velvet-Wood project, located in San Juan County, Utah, is expected to produce uranium used for both civilian nuclear energy and defense applications, as well as vanadium, a strategic metal used in batteries and high-strength alloys.

Secretary of the Interior Doug Burgum characterized the move as part of an urgent federal response to what he said is “an alarming energy emergency” created by the “climate extremist policies” of the previous administration.

“President Trump and his administration are responding with speed and strength to solve this crisis,” he said. “The expedited mining project review represents exactly the kind of decisive action we need to secure our energy future.”

Anfield acquired Velvet-Wood, which is currently on care and maintenance, from Uranium One in 2015.

The asset sits on the site of a previously active operation. Between 1979 and 1984, Atlas Minerals extracted approximately 400,000 metric tons of ore from the Velvet deposit, recovering around 4,000,000 pounds of U3O8. If approved, the revived project would disturb only three acres of new surface area, according to the interior department.

‘As a past-producing uranium and vanadium mine with a small environmental footprint, Velvet-Wood is well- suited for this accelerated review,’ said Anfield CEO Corey Dias.

He added that the company aims ‘to play a meaningful role in rebuilding America’s domestic uranium and vanadium supply chain and reducing reliance on imports from Russia and China.”

The company also owns the Shootaring Canyon uranium mill in Utah, which it plans to restart. The facility, described as one of only three licensed, permitted and constructed conventional uranium mills in the country, would convert uranium ore into uranium concentrate bound for nuclear fuel production.

Uranium market sentiment turning a corner?

After a rocky start to 2025, the uranium market is showing signs of renewed strength and resilience.

According to Sprott Asset Management’s latest uranium report, the U3O8 spot price rose by 5.4 percent in April, climbing to US$67.70 per pound from a March low of US$63.20. The price recovery continued into early May, with the spot price briefly touching US$70, a nearly 10 percent gain from 2025 lows.

This rebound has renewed investor confidence and appears to signal the beginning of a steadier climb, underpinned by tight supply conditions, resurgent utility activity and greater clarity around US trade and tariff policy.

The uranium term price, which remains steady at US$80, continues to reflect strong long-term fundamentals. This persistent premium over spot pricing has re-energized the uranium carry trade — where traders purchase spot uranium for future delivery under term contracts — helping to support spot prices and inject fresh liquidity into the market.

A major contributor to the uranium market’s renewed confidence has been improved policy visibility in the US.

The Trump administration’s decision to pause the implementation of its new reciprocal tariffs for 90 days provided utilities with the breathing room needed to resume contracting.

Although uranium was excluded from the initial tariff package, it remains part of an ongoing Section 232 investigation into critical minerals, a move that Sprott believes elevates uranium’s strategic profile.

As for the long-term outlook, uranium’s bullish case is also being bolstered by growing power demands from artificial intelligence and data centers. In April, Google (NASDAQ:GOOGL) announced funding for three new nuclear projects, each with at least 600 megawatts of planned capacity.

These moves align with a broader US Department of Energy strategy that includes identifying 16 federal sites for co-locating data centers and new energy infrastructure.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Crypto Market Recap: Coinbase to Join S&P 500, Robinhood Eyes Canadian Crypto Boom

Investing 6 Mins Read

Here’s a quick recap of the crypto landscape for Wednesday (May 14) as of 6:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$103,243 as markets closed, down 1 percent in 24 hours. The day’s range for the cryptocurrency has seen a low of US$102,964 and a high of US$104,836.

Bitcoin performance, May 14, 2025.

Chart via TradingView.

Ethereum’s (ETH) price has stabilized since surging after the May 7 Pectra upgrade. ETH has increased by over 44 percent since last week and is up 57.2 percent month-on-month. It finished Wednesday at US$2,586.72, a 1 percent decrease over 24 hours. The day’s range saw a low of US$2,571.87 and a high of US$2,708.81.

Altcoin price update

  • Solana (SOL) closed at US$175.53, down 1.6 percent over 24 hours. SOL experienced a low of US$174.64 and a high of US$184.05.
  • XRP is trading at US$2.54, reflecting a slight 0.3 percent decrease over 24 hours. The cryptocurrency reached a daily low of US$2.63 and a high of US$2.55.
  • Sui (SUI) is priced at US$3.92, showing a decreaseof 2.6 percent over the past 24 hours. It achieved a daily low of US$3.88 and a high of US$4.08.
  • Cardano (ADA) is trading at US$0.7991, down 2.7 percent over the past 24 hours. Its lowest price of the day was US$0.7939, and it reached a high of US$0.8354.

Today’s crypto news to know

Strategy’s Bitcoin binge draws shock and skepticism

A new Financial Times documentary has reignited scrutiny over Strategy’s (NASDAQ:MSTR) high-risk Bitcoin accumulation strategy, which has transformed the software firm into a de facto Bitcoin investment vehicle.

The company has acquired over 568,000 BTC since 2020, funding the purchases through repeated stock sales and convertible bond issuances totaling over US$12 billion.

Insider Jeff Walton, a former reinsurance broker turned Strategy advocate, has called the firm’s capital-raising feat “insane,” highlighting how it raised the equivalent of US$100 million 120 times in just 50 days.

Critics also warn that the model’s success is contingent on sustained Bitcoin price growth; any prolonged downturn could unravel investor confidence and the firm’s market cap. Meanwhile, supporters argue the move is a master stroke in capital deployment, leveraging valuation premiums to secure more digital assets without diluting core equity value.

Strategy Chair Michael Saylor claims the firm’s balance sheet is “bulletproof,” stating that even a 90 percent Bitcoin drop held for half a decade would not destabilize the company.

Perplexity and PayPal team up to automate AI shopping

Artificial intelligence search startup Perplexity has entered into a partnership with payments giant PayPal (NASDAQ:PYPL) to enable seamless purchases directly within its chat interface.

Starting this summer in the US, users of Perplexity Pro will be able to book travel, buy tickets or purchase goods through a single query — without manually inputting payment information. Transactions will be processed behind the scenes using PayPal or Venmo, streamlining everything from checkout to invoicing while eliminating the need for passwords.

The companies are calling the deal a major leap for “agentic commerce.” The partnership is expected to integrate Perplexity’s tools into PayPal’s 430 million active accounts, dramatically expanding the reach of both platforms.

Backed by tech titans like Jeff Bezos, Nvidia, and SoftBank, Perplexity is also reportedly in talks to raise US$500 million in fresh capital at a US$14 billion valuation, showing investor confidence in the model.

Coinbase to join S&P 500

Coinbase Global (NASDAQ:COIN) will officially join the S&P 500 (INDEXSP:.INX) on May 19, replacing Discover Financial Services following its acquisition by Capital One Financial (NYSE:COF).

Shares of Coinbase surged 24 percent on the news, marking its largest single-day rally since November 2016. Analysts say inclusion in the S&P 500 not only legitimizes Coinbase’s role in the financial system, but could also drive as much as US$16 billion in fresh inflows from passive index funds, according to Bernstein.

The stock has also drawn new bullish forecasts, with Oppenheimer raising its target price to US$293 while maintaining an ‘outperform’ rating. This development comes on the heels of Coinbase’s strong first quarter earnings report, which beat earnings per share expectations, but slightly missed on revenue.

Coinbase recently announced plans to acquire crypto derivatives exchange Deribit for US$2.9 billion, a deal that represents the largest acquisition in the industry to date.

Thailand to issue US$150 million worth of digital investment tokens

Thailand’s finance ministry announced it will issue 5 billion baht (US$150 million) worth of blockchain-based “G-Tokens” within the next two months as part of the government’s borrowing strategy. The issuance follows cabinet approval, and will function as a market test to gauge public appetite for blockchain-based debt instruments.

Finance Minister Pichai Chunhavajira said the tokens will offer higher returns than traditional bank deposits, which currently yield between 1.25 and 1.5 percent — below the central bank’s 1.75 percent policy rate.

Retail investors will be able to participate with relatively small capital as the government aims to democratize access to high-yield investment tools. The initiative reflects growing enthusiasm within Thailand for blockchain innovation; last year, the country exempted crypto earnings from taxation and expanded stablecoin trading on local exchanges.

Robinhood to buy WonderFi for US$179 million

Robinhood Markets (NASDAQ:HOOD)has agreed to acquire Canadian crypto firm WonderFi (TSX:WNDR,OTCQB:WONDF) in an all-cash deal worth C$250 million (US$179 million).

WonderFi operates Bitbuy and Coinsquare — two of Canada’s largest registered crypto exchanges — with more than C$2.1 billion (US$1.5 billion) in assets under custody. The deal, expected to close in the second half of the year, marks Robinhood’s third major crypto acquisition following its purchases of Bitstamp and TradePMR in the past year.

WonderFi’s recent history has been tumultuous: its CEO Dean Skurka was kidnapped last year in a US$1 million ransom plot that ultimately cost the company US$3.6 billion in damages and security upgrades.

Canada Crypto Week in full swing in Toronto

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Caitlin Clark ready for Year 2: Can she lead Fever to WNBA title?

Sport 6 Mins Read

Caitlin Clark’s first season in the WNBA felt like a fever dream.

Clark was named the 2024 WNBA Rookie of the Year after a stellar freshman campaign that saw her shatter numerous records, including the single-season rookie scoring record (769), single-season assists record (337) and single-game assists record (19), while leading the WNBA in assists (8.4 per game) and made 3s (122). Clark earned her first All-Star nod and was the first rookie to make the All-WNBA Team since Candace Parker in 2008.

Despite scorching the league in her first year, Clark has barely scratched the surface and has her eyes on an elusive championship.

‘Being a rookie in the WNBA is so unique … from ending your college career and then your becoming a professional immediately,’ Clark told USA TODAY. ‘Just getting a year under my belt was the best thing for me.’

When asked at media day what success means this season, Clark definitively said ‘a championship.’

CAITLIN CLARK WNBA SCHEDULE: Tickets, times, TV for all Indiana Fever games

2025 WNBA SEASON: One thing to know about every WNBA team before 2025 season tips off

What’s next for Clark? Here’s a look at what to expect in year two:

Caitlin Clark adds strength to repertoire

This offseason provided Clark some much-needed rest. Clark continuously played basketball for nearly a year straight as she transitioned from college to the pros. She wrapped up her collegiate career at Iowa — where she set the NCAA’s all-time scoring record — in April 2024 after leading the Hawkeyes to their second consecutive national championship game appearance. Clark was selected with the No. 1 overall pick in the 2024 WNBA draft by the Indiana Fever one week later and made her WNBA debut in May 2024. Her team played 11 games in 20 days. 

‘I haven’t really had (an offseason) in a couple years now, because my last year going into Iowa we took our foreign trip,’ Clark told USA TODAY. ‘So that was really nice just to kind of have that reset, get back to working on things I want to get (better at) and add some muscle to my frame. I’m excited for year two.’

Clark opted not to play competitive basketball this offseason, bypassing playing overseas or in the inaugural season of Unrivaled. She hit the gym and weight room to develop her game.

The results have been on display, especially during the Big Ten women’s basketball tournament in March. Clark significantly bulked up and her new muscles became a topic of conversation across social media.

‘I think it’s funny,’ Clark told USA TODAY about the commentary surrounding her biceps. ‘People see one photo and kind of run with it. But I appreciate it. I worked really hard so at least they noticed.’

Clark found herself on the receiving end of a lot of physicality in her rookie season, which opponents used as a means to slow her down and knock her off balance. But Clark’s added strength and muscle mass should help her push off pesky and handsy defenders.

‘I feel like everyone talks about it. I see it on social media. They’ll be like, ‘Caitlin has such strong muscles.’ Don’t tell her I said that,’ Aliyah Boston said, when asked about the biggest difference she sees in Clark this year. ‘I think her strength. She gets in the paint and she’s able to bully her way in and finish strong at the basket. I mean, everyone talks about her 3-point shooting and we’ve all seen her passing, but I think her ability to get downhill and really just stay on balance and score the ball. I think it’s gonna be great this year, too.’

Caitlin Clark has pieces. Expect deep playoff run.

The Fever are legit championship contenders and are positioned to potentially win their first WNBA title since 2012.

The Fever started the 2024 WNBA season 11-15, but Indiana found its groove after the All-Star break and closed the season on a 9-5 run to secure the team’s best record (20-20) and first playoff berth since 2016. Although Indiana was swept in the first round of the WNBA playoffs by the Connecticut Sun, the Fever showed promise and offered a peek at their potential.

The franchise responded by going all in — throwing out blueprints for a years-long rebuild and signaling the team’s desire to win now — with a series of moves. The Fever upgraded their roster, coaching staff and front office to complement the young core of Clark, Boston (the 2023 Rookie of the Year) and Kelsey Mitchell.

Kelly Krauskopf returned as the Fever’s president in September. Former Sun head coach Stephanie White was hired in November to succeed Christie Sides. The Fever re-signed Mitchell in January and added defensive prowess and depth to their roster with the additions of six-time All-Star DeWanna Bonner, former Defensive Player of the Year Natasha Howard, Sophie Cunningham, Brianna Turner and Sydney Colson.

The improvements will only make it easier for Clark to thrive.

‘It’s up to us to be able to put it all together,’ Clark said.

Bonner added: ‘Being on this side of the ball with (Clark) is a lot more fun than guarding her, that’s for sure. She just put everyone in position. We play off her and her energy.’

Caitlin Clark’s bag got bigger with a floater

Clark is known for her signature 3s — she led the league last season with 3.1 made 3-pointers per game and knocked down a WNBA-high 122 3-pointers — but her opponents will now have another element to try to defend. Not only did Clark bulk up in the lab, she added a floater to her game.

Alongside Fever athletic performance coach Sarah Kessler, Clark worked with new Indiana player development coach Keith Porter to tune up her game and master her midrange shot. Expect her to use it often.

The USA TODAY app gets you to the heart of the news — fast. Download for award-winning coverage, crosswords, audio storytelling, the eNewspaper and more.

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Why Florida State wants to play the toughest football schedule possible

Sport 5 Mins Read

AMELIA ISLAND, Fla. — He strolled around the place with a purpose, like a guy who knew something everyone else didn’t. 

Like a guy who got what he wanted all along. 

“We’re in a very good position right now,” Florida State athletic director Mike Alford said Wednesday during break in the annual ACC spring meetings. “Everything is moving forward.”

What a strange and eventually fruitful ride it has been.

Florida State was never headed to the Big Ten. Florida State was never negotiating with the Big Ten or having back-channel talks with the Big Ten.

No matter what some clown(s) on social media proclaimed. 

That doesn’t mean FSU wouldn’t have crawled through broken glass for the 1,000 miles from Tallahassee to the Big Ten headquarters in Chicago, it just means the Big Ten wasn’t biting. Ever.

But Florida State was negotiating with the ACC, its home conference since 1991. The school did want a better deal, and did feel as though it brought more to the table than the ACC was giving. 

BEST OF BEST: Our ranking of college football’s top 25 coaches

It did hire attorneys and threaten to leave the conference, and did play a negotiation game that ultimately left it with a clear, self-made path to financially running with the lead pack at the Big Ten and SEC. 

Or as Alford says, “I tell all of our fans now, when you come to the game, be sure to leave your televisions on at home.”

Because those television ratings are not only the lasting takeaway from more than a year of public – and at times, ugly – negotiation with the ACC, they’re critical to Florida State’s survival. 

At least now, the Seminoles have their financial destiny in its hands. The more high-value television games they play, the greater the media rights payout from the ACC. 

How much greater? Maybe as much as $18 million more annually for football. And more for basketball. 

“That’s in the ballpark,” Alford said. “Any school in our conference can go out and earn those numbers.”

And that’s what Florida State wanted all along, anyway. 

Alford’s point to ACC commissioner Jim Phillips (and the rest of the league): it wasn’t fiscally fair for Florida State – and Clemson and Miami – to pull the television weight of the conference, and everyone else benefit from it.

Why should the Seminoles spend top dollar on facilities and recruiting budgets, and do everything within its power to field a nationally competitive team, and receive the same media rights payout as other programs in the ACC who aren’t invested in getting better and spending money to make money? 

Why should Florida State, geographically surrounded by SEC recruiting heavyweights – Florida, Georgia, Alabama and Auburn – eventually making 50-60 percent more in media rights money, be forced to take the eventual fiscal undoing?

You can argue about the process, and if its legal wrangling with the ACC hurt relationships with the league (of course it did). But you can’t argue with survival mode. 

That’s why Alford was adamant during this week’s ACC spring meetings that the ACC should schedule more games of significance between conference members. He wants to play Clemson and Miami and Virginia Tech and North Carolina every year. 

He wants them to play each other, too. He wants the ACC to grow brands and programs within the conference, and win games of significance outside it. 

Like the season opener against Alabama in Tallahassee, and the return game to Tuscaloosa in 2026. Or the home and home series with Georgia in 2027-28.

Or the 2026 schedule that includes non-conference games against Alabama, Florida and Notre Dame.

That’s how Florida State will earn the television numbers to reach the media value initiative in the new deal with the ACC. By reaching those numbers, FSU (and Clemson and any other ACC team) could earn nearly $60 million annually in media rights revenue. 

That’s the clearest path to financial security ― not hoping for a new football division in 2030 when Florida State is now allowed to leave the ACC with a decreased buyout, or hoping ESPN will restructure a better deal after 2036. The money is there for the taking now. Go get it.

The SEC gave its 14 longtime member schools $52.5 million for the 2024 fiscal year, and the Big Ten gave $63.2 million to 12 of its 14 schools. Southern California and UCLA, which joined in July of 2024, will receive full shares in fiscal 2025, where the payout is expected to be around $75 million for 16 of its 18 schools (Washington and Oregon shares are being phased in over seven years.).

The ACC is expected to pay out around $37 million to most member schools (not including California, Stanford and SMU) in fiscal 2025. But with media value and success initiatives, that number could jump $20 million-25 million. 

The success initiative was the first give by the ACC to Florida State and Clemson (and the rest of the league), where teams will receive a greater share of the College Football Playoff payout for postseason success. 

Last December, in the heat of the negotiations and legal wrangling with the ACC, Alford told USA TODAY Sports, “We never said we wanted to leave the ACC” — 16 months after a formal notice of withdrawal. 

Less than three months later, the ACC came to the table with a workable media value initiative that settled lawsuits between Florida State, Clemson and the conference — and put FSU’s financial destiny in its hands.

“We’re going to do everything we can to grow Florida State,” Alford said.

Says the guy who got what he wanted all along, anyway. 

Matt Hayes is the senior national college football writer for USA TODAY Sports Network. Follow him on X at @MattHayesCFB.

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NCAA men’s lacrosse tournament quarterfinals schedule, preview

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The men’s lacrosse season has reached the penultimate weekend, and by Sunday evening we will know the four teams headed to championship weekend in Foxborough, Massachusetts. Before that, however, fans will be treated to what should be a compelling quarterfinal round that could take some twists and turns.

A pair of contests in Hempstead, New York, get things started on Saturday, then the action moves to Annapolis, Maryland, on Sunday. Among the eight remaining teams are the two-time defending champion on a quest for a rare three-peat, several of the sport’s long-time powers hoping to end lengthy title droughts, and a few others still hoping to hoist the trophy for the first time.

Who are the NCAA lacrosse tournament title contenders?

Notre Dame, like the men’s basketball squad from Connecticut, is going to be a tough out in its quest for a third consecutive crown. Despite entering this year’s tournament unseeded, the Fighting Irish certainly looked like the two-time defending champs in last week’s dismantling of fourth-seeded Ohio State. They next take on another Big Ten squad in Penn State, which is hoping to reach the semifinals for just the second time in program history.

The Princeton-Syracuse showdown on Long Island has long-time followers of the sport salivating. Those two storied programs staged some epic battles in the postseason in the 1990’s through the aughts, but it’s been over a decade since either team won the whole thing.

The championship drought has been even longer for top-seeded Cornell. The Big Red have come agonizingly close on a couple of occasions, but it’s last title came in 1977. Cornell features the highest-scoring offense in the nation, and its next opponent, Richmond, just won its first NCAA tournament game last week. But the Spiders gave the Big Red all they could handle in a 12-11 loss in the regular season, so they aren’t likely to wilt in the spotlight.

Second-seeded Maryland, meanwhile, has been hard to beat in the quarterfinal round in recent years, and the Terrapins should have the bulk of the home-state crowd on their side in Annapolis. But Georgetown is relishing this opportunity to derail a local rival and reach the semifinals for just the second time. The Hoyas’ Aidan Carroll turned in arguably the top performance of the round of 16 last week with a six-goal, two-assist effort at Duke.

NCAA men’s lacrosse tournament schedule

All quarterfinal games will air on ESPNU and are available for streaming on the ESPN app. Here’s the schedule.

Saturday

At Hempstead, New York

No. 1 Cornell vs. Richmond, noon

No. 3 Princeton vs. No. 6 Syracuse, 2:30 p.m.

Sunday

At Annapolis, Maryland

No. 5 Penn State vs. Notre Dame, noon

No. 2 Maryland vs. Georgetown, 2:30 p.m.

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Kiki Iriafen soaks it all in as her WNBA rookie season begins

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WASHINGTON − Kiki Iriafen celebrated her graduation from the USC Marshall School of Business for a few happy moments after the Washington Mystics practice Thursday, just a day away from the team’s season opener.

Iriafen donned a black graduation cap and got some video for social media along with fellow rookie Lucy Olsen, who is graduating from Iowa.

Iriafen, 22, has earned her master’s degree in entrepreneurship and innovation from USC after getting an undergraduate degree at Stanford in product design and mechanical engineering. Last month USC announced Iriafen was the Academic All-America Team Member of the Year for Division I.

Despite her academic accolades, she isn’t disappointed that she won’t get to walk in the traditional ceremony. “I graduated early last year so I was able to get my big graduation so I’m not super sad about it this year,” she said. “I’m more excited I get to play basketball instead. I can’t believe it’s actually here. We’ve had two preseason games, but tomorrow feels like the real deal. I’m excited to finally be able to compete and get the season rolling. My journey here has been kind of a roller coaster; I’ve had some highs, some lows. But I wouldn’t change a single thing because it’s made me who I am and brought me here.”

The Mystics open the season May 16 at home against the Atlanta Dream with a sense of excitement under first-year head coach Sydney Johnson and with a rookie class whom Johnson said plays with a veteran presence.

“I’m just hopeful that we can stay healthy because I think that’s such a big thing in terms of building momentum,” Johnson said. Last season the Mystics started on a 12-game losing streak after injury problems.

Last month Washington drafted Sonia Citron with the No. 3 pick, Iriafen at No. 4 and Georgia Amoore at No. 6. Olsen was the Mystics’ No. 23 pick in the second round, and Zaay Green was drafted 31st overall in the third round. (Green was waived May 14.)

Iriafen said she’s soaking up the moment on the eve of her first pro game.

“I’ve had great coaches who have really prepared me to play at this level. I think for me, what’s going to help me be successful is just being a sponge, understanding there’s a lot I can still learn,” she said.

The young team has already dealt with the disappointment of losing Amoore after she suffered a right ACL injury during practice April 30.

Iriafen was excited to come to Washington because of the number of draft picks the team had this year.

“You feel like you have a sister in it, going through the newness with you,’ Iriafen said. ‘Sonia, Georgia, Lucy, even Zaay, we were all really close. Everyone brought something different to the table, and I know now that things are solidified, we’re going to get closer and closer. It’s so funny because it’s only been a month, but I feel like I’ve known these women for years.”

Aaliyah Edwards won’t play against Atlanta due to a back injury and Shakira Austin is out with a leg injury. That could mean more minutes for Iriafen, Citron and Olsen to soak up their WNBA debut.

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