All articles tagged with #ownership group
Paul Allen's estate has agreed to sell the Portland Trail Blazers to a group led by Tom Dundon, with the deal valued at $4.25 billion and pending NBA approval, aiming to keep the team in Portland and potentially revitalize the arena and surrounding district.
WNBA star Caitlin Clark is part of a group bidding to bring an NWSL expansion team to Cincinnati, with the team expected to start playing in 2026. Cincinnati is among the finalists, competing against cities like Cleveland, Denver, Nashville, and Philadelphia. The bid is led by the ownership group of MLS team FC Cincinnati, which is favored due to its strong backing and existing soccer infrastructure. The expansion fee for the new team could reach $100 million, with the decision expected by the end of the year.
Washington Commanders' head coach Ron Rivera addressed the media after a 38-10 loss to the Dallas Cowboys, discussing the team's performance, his upcoming meeting with managing partner Josh Harris, and the passion of the new ownership group. Despite the disappointing season, Rivera expressed optimism for the future and praised the ownership's commitment to investing in the team.
Golden State Warriors star Stephen Curry, along with Andre Iguodala and Klay Thompson, is part of the ownership group representing San Francisco in TGL (Tech-Infused Golf League) presented by SoFi, a new golf league developed by Tiger Woods and Rory McIlroy. The ownership group, led by Curry and Marc Lasry's Avenue Sports Fund, will be responsible for TGL San Francisco, which aims to develop a talented team for the league's inaugural season in January 2024. Other athletes and celebrities, including Serena and Venus Williams and New York Mets owner Steven A. Cohen, also have stakes in TGL. The matches will be broadcast on ESPN platforms.
A group led by Laura Ricketts, co-owner of the Chicago Cubs, has reached an agreement in principle to purchase the NWSL team, the Chicago Red Stars. The deal is pending final approval from the NWSL Board of Governors. The purchase includes a diverse group of Chicago women business and civic leaders. The Red Stars, currently in 11th place, have been in need of greater investment and face challenges with their stadium situation. The team's current home, SeatGeek Stadium, has accessibility issues, and finding a more sustainable venue is a priority. The sale agreement reflects the growing interest and momentum in women's soccer, and the NWSL is optimistic about the future of the Red Stars under new ownership.
The Washington Commanders' franchise sale to Josh Harris' ownership group has unofficially been approved by the NFL's finance committee, with finalization expected before the start of training camp. This news comes amidst another lawsuit for the Commanders, Dan Snyder stepping down, and Harris preparing to take charge. The team's head coach, Ron Rivera, will soon engage in discussions with Harris and his consortium regarding immediate actions, future plans, and the potential for long-term coexistence.
San Diego has become the 30th franchise of Major League Soccer, with the team set to begin play in February 2025 at Snapdragon Stadium. The team will be co-owned by Egyptian billionaire Mohamed Mansour and the Sycuan tribe, and will include the latest Right to Dream residential youth academy. The team's name and crest are forthcoming, and the working title is San Diego Football Club. The ownership group includes Padres star Manny Machado as a minority partner and former NBA television analyst Tom Penn as CEO. The team has already received 5,000 nonrefundable season-ticket deposits of $18.
Dan Snyder has agreed to sell the Washington Commanders to a group led by Josh Harris, pending approval from the other NFL owners. The ownership group includes Harris, his longtime business partner David Blitzer, and NBA legend Magic Johnson. The team changed its original nickname following racial unrest in 2020, and the organization was fined $10 million following an investigation into alleged workplace misconduct. The sale is expected to be around $6 billion.
Rapper Snoop Dogg is part of an ownership group led by entrepreneur and producer Neko Sparks that is attempting to buy the NHL's Ottawa Senators. The investment group is made up of more than 12 investors, most of whom are people of color. Final bids for the team are due on May 15, and the sale price could reach at least $1 billion. Snoop Dogg has previously worked with NHL.com and was featured in the EA Sports NHL 20 video game.
Sixth Street is investing $125 million in a new NWSL expansion team in the San Francisco Bay Area, with former USWNT players Aly Wagner, Brandi Chastain, Leslie Osborne, and Danielle Slaton forming part of the ownership group. The investment is being touted as the largest institutional investment in women's soccer to date, with $53 million going towards the expansion fee and the remainder being spent on a training facility and team infrastructure. The team has not yet announced a home venue. The ownership group is focused on building a long-term project and producing local talent, and is not seeking celebrity owners but rather partners who can bring value and help execute their vision.
Former NFL quarterback Robert Griffin III is excited about the possibility of being part of the new ownership group for the Washington Commanders, one of two groups to submit a $6 billion bid to buy the team from current owner Daniel Snyder. Griffin believes it's time for Snyder to sell the team and that the fans are ready for a change. The Commanders are still under investigation for workplace misconduct, and Griffin hopes new ownership will help restore the team's reputation.
NBA legend Magic Johnson has reportedly joined billionaire Josh Harris' group to bid on the Washington Commanders, which is expected to sell for possibly $500 million or more. The group already has significant financial backing, including Harris and American businessman Michell Rales. Both Harris and Magic have experience in buying teams or being part of an ownership group, and were previously part of the ownership group that failed to buy the Denver Broncos in 2022.