All articles tagged with #sports business
Originally Published 2 months ago — by NBC Sports
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.
Originally Published 3 months ago — by CNBC
The NFL aims to renegotiate its media rights deals as early as 2026, potentially increasing revenue and impacting other sports leagues, with discussions possibly starting sooner than the current agreement's 2030 opt-out, depending on regulatory and partnership considerations.
Originally Published 4 months ago — by CNBC
Serena Williams' Serena Ventures participated in a funding round that valued the women's 3-on-3 basketball league Unrivaled at $340 million, a significant increase from $95 million a year earlier, highlighting the rising popularity and valuation of women's sports.
Originally Published 5 months ago — by Defector
Boston Celtics minority owner Steve Pagliuca plans to buy the Connecticut Sun and relocate them to Boston, potentially playing at TD Garden by 2027, which would be the most expensive sale of a women's sports team. The move benefits the team with better facilities and a larger market, but the WNBA league may oppose the sale due to league policies and revenue considerations, despite the clear local support and potential for growth.
Originally Published 6 months ago — by NBC Sports
Eli Manning considered buying a 10% stake in the Giants but declined due to the high cost, citing the large financial commitment and potential conflicts with his broadcasting career. The article also contrasts Manning's decision with Tom Brady's purchase of a stake in the Raiders at a much lower valuation.
Originally Published 6 months ago — by Los Angeles Times
The article discusses the potential impact of Mark Walter, owner of both the Dodgers and Lakers, on sports broadcasting in Los Angeles, including the possibility of consolidating their channels and adapting to the shift towards streaming, which could offer fans more freedom of choice and new revenue opportunities for the teams.
Originally Published 6 months ago — by The New York Times
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.
Originally Published 6 months ago — by ESPN
PGA Tour commissioner Jay Monahan will step down in 2026, with NFL executive Brian Rolapp set to succeed him as CEO, marking a significant leadership transition aimed at strengthening the tour amid ongoing industry challenges.
Originally Published 1 year ago — by Green Bay Press Gazette
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.
Originally Published 1 year ago — by The Athletic
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.
Originally Published 1 year ago — by Axios
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.
Originally Published 1 year ago — by CNBC
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.
Originally Published 1 year ago — by BuffaloBills.com
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.
Originally Published 1 year ago — by Sports Illustrated
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.
Originally Published 1 year ago — by cleveland.com
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.