sports-business11.125 min read
QBs Take the Reins: Why Football’s Franchise Power Is Shifting
2 days ago•Source: The New York Times
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1.7 min•3 months ago
Bob Myers Leaves ESPN to Become President at Harris Blitzer Sports & Entertainment
Bob Myers, former Warriors GM and NBA analyst, is leaving ESPN to become president of Harris Blitzer Sports & Entertainment, which owns multiple sports teams including the Philadelphia 76ers, and will also serve as an adviser to the organization, seeking a new challenge in the sports industry.
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Serena Williams' Serena Ventures boosts Unrivaled to $340M valuation
CNBC•4 months ago
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Impact of New Ownership on the Dodgers and Lakers
Los Angeles Times•6 months ago
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Tottenham's Valuation and Wrexham's Rise in Football Business
The article discusses the ongoing potential takeover of Tottenham Hotspur, highlighting financial and strategic factors influencing the deal, and compares it to the controversial valuation of Wrexham AFC, which is driven by celebrity ownership and entertainment branding. It also covers recent developments in sports media rights, UEFA's stance on multi-club ownership, and the upcoming implementation of an independent regulator in English football.
Forbes Unveils Top 50 Most Valuable Sports Franchises of 2023
The Green Bay Packers have been ranked as the 20th most valuable sports franchise in the world by Forbes, with a valuation of $5.6 billion, marking a 22% increase from 2023. The Dallas Cowboys remain the most valuable franchise globally at $10.1 billion. The Packers are the second most valuable team in the NFC North, behind the Chicago Bears, who are valued at $6.4 billion. The NFL dominates the list with 29 of the top 50 franchises, highlighting the league's strong media deals and commercialization.
NFL Teams Attract Star Athletes and Private Equity as New Investors
For the first time in NFL history, private equity firms have purchased stakes in league teams, with Ares Management acquiring 10% of the Miami Dolphins and Arctos Partners and Gridiron Capital buying into the Buffalo Bills. This move, approved by NFL owners, allows for increased liquidity as franchise values rise. The Dolphins' valuation was set at $8.1 billion, while the Bills' was $5.8 billion. The sales aim to diversify ownership and expand market reach, particularly in Toronto for the Bills.
Sports Legends and Investors Flock to NFL Team Ownership
The Buffalo Bills and Miami Dolphins have become the first NFL teams to sell minority ownership stakes to private equity firms, following the league's recent policy change allowing such investments. Ares Management and Arctos Partners led the deals for the Dolphins and Bills, respectively, each acquiring a 10% stake. This marks a significant shift in NFL ownership dynamics, as the league was the last major U.S. sports organization to permit institutional investors. The Dolphins' deal also includes stakes in Hard Rock Stadium and the Miami Grand Prix.
NFL Approves 8% Sale of Eagles at $8.3B Valuation
The NFL has approved the sale of an 8% minority stake in the Philadelphia Eagles, valuing the team at $8.3 billion. The sale, approved at an NFL owners' meeting, involves two family investment groups, with longtime owner Jeffrey Lurie retaining majority control. The Eagles, previously valued at $7 billion, have seen a significant increase in value, reflecting the strong market for NFL teams. New minority owners include Susan Kim and the Peskowitz siblings, with the sale highlighting the growing interest in sports team investments.
NFL Teams Attract New Investors, Including Celebrities and Private Equity
The Buffalo Bills have added 10 new limited partners to their ownership group, marking the first time in franchise history that minority owners have been included. The partners, approved at the NFL meetings in Dallas, include notable figures from business, sports, and entertainment, such as private equity firm Arctos, former NBA players Vince Carter and Tracy McGrady, and former soccer player Jozy Altidore. This partnership with Arctos represents one of the first private equity investments in an NFL team, highlighting a significant development in sports franchise ownership.
Saudi PIF Set to Invest in PGA Tour Amid Final Negotiation Hurdles
Saudi Arabia's Public Investment Fund is reportedly close to acquiring a 6% stake in PGA Tour Enterprises, valuing the company at around $12 billion. This move could mark a significant step towards resolving the ongoing conflict between the PGA Tour and LIV Golf, as it may lead to collaboration with the DP World Tour, potentially allowing LIV Golf players access to the European circuit. The deal is still subject to regulatory approval.
Cleveland Browns Unveil Development Plans and Partner for Brook Park Stadium District
The Cleveland Browns have unveiled plans for a new stadium in Brook Park, which will be surrounded by two upscale hotels, 1,100 apartments, retail spaces, and 500,000 square feet of office space. The project is in collaboration with Lincoln Property Company, known for similar developments near NFL stadiums. However, details on public financing for the project remain unclear.
Browns' Brook Park Dome Project Promises $1.2B Economic Boost
The Cleveland Browns are advocating for a $1.2 billion public subsidy to help fund a $2.4 billion domed stadium in Brook Park, arguing it would attract major events to the region. However, the team has not disclosed detailed financing plans, and Cuyahoga County has already declined to contribute, with state funding also uncertain.
Campbell's CEO Mark Clouse Joins Washington Commanders as President
The Washington Commanders have appointed Mark Clouse, former CEO of Campbell's Company, as their new team president under new owner Josh Harris. Clouse, who will start in January, is tasked with leading the effort for a new stadium, despite having no prior sports experience. This move is part of the franchise's revitalization post-Snyder, with increased fan support and legislative progress towards potentially returning to the RFK Stadium site in D.C. Clouse's immediate focus will be securing a deal for the new stadium, aiming for a 2030 opening.