All articles tagged with #team sale
The Pohlad family unexpectedly reversed their decision to sell the Minnesota Twins after nearly a year on the market, instead bringing in minority investors to help manage over $400 million in debt, leaving potential buyers and fans shocked and disappointed with the continuation of family control.
The Tampa Bay Rays are potentially being sold to Jacksonville-based billionaire Patrick Zalupski in a nearly $2 billion deal, with the sale expected to finalize by September. Zalupski plans to keep the team in Tampa Bay, possibly accelerating the search for a new stadium, as the team currently plays at Steinbrenner Field following Hurricane Milton's damage to Tropicana Field.
The Los Angeles Lakers informed Luka Doncic about the team's sale to Mark Walter's group in advance, but did not notify LeBron James, highlighting a possible shift in team dynamics and future plans around Doncic as the team appears to be building around him.
The Lakers are reportedly shifting their focus from LeBron James to Luka Doncic as the franchise's new face, evidenced by their communication and strategic moves following the team's sale, suggesting a gradual transition away from James.
The Washington Nationals' ownership, led by the Lerner family, has made significant moves by firing key executives, but is unlikely to sell the team soon due to valuation concerns and the current sports media landscape. The team faces revenue challenges and is in the process of restructuring management, with interim GM Mike DeBartolo a potential long-term hire. The ownership's focus appears to be on stabilizing the team rather than a quick sale or major payroll increase, despite recent bold decisions.
Austin Reaves declined an $89.2 million max extension with the Lakers, choosing to wait for a potentially more lucrative deal next summer, amid ongoing team ownership changes and playoff exit. Reaves, a key player for the Lakers, is entering free agency, while the team continues to value him highly. Meanwhile, Lakers owner Jeanie Buss confirmed the sale of the team to Mark Walter, expected to finalize later this year.
The NFL has approved the sale of an 8% stake in the Philadelphia Eagles, valuing the team at $8.3 billion. The sale involves two family investment groups, while current owner Jeffrey Lurie maintains full control. This move follows the NFL's recent decision to allow private equity investments in teams, although the Eagles' sale does not involve such funds.
The NHL has approved the $1.2 billion sale of the Arizona Coyotes to Ryan and Ashley Smith, owners of the NBA's Utah Jazz. The sale involves the transfer of the Coyotes' player and hockey operations to a new NHL franchise owned by the Smith Entertainment Group, which will play in the SEG-owned Delta Center next season. The current owner, Alex Meruelo, will retain the team's name, logos, and other intellectual property, with an opportunity to resurrect the franchise for $1 billion if a new arena project is successful within the next five years.
Major League Baseball owners will discuss the sale of the Baltimore Orioles to David Rubenstein at their upcoming meeting, with the approval process expected to move more rapidly than usual due to Rubenstein's well-known status and the relatively uncomplicated nature of the proposal. The sale values the franchise at $1.725 billion, and Rubenstein's group includes notable figures such as Cal Ripken Jr., Michael Bloomberg, and others. The ownership committee is set to be briefed on the agreement, and if it clears the executive council, it will move to all 30 owners for approval. The Orioles also made a significant trade for former Cy Young winner Corbin Burnes, with the ownership change not directly impacting the trade negotiations.
Dan Snyder and his lawyers are reportedly trying to prevent the release of Mary Jo White’s investigation into the Washington Commanders’ organization and Snyder’s alleged improprieties, which is the main remaining issue in the NFL’s approval of the team sale to an investor group led by Josh Harris for $6.05B. Snyder has refused to be interviewed by White and her team, and his support among fellow owners has dwindled to zero. Snyder's only leverage is to threaten his fellow owners that he won’t sell the team unless the White report is “killed,” an option he doesn’t have.
Dan Snyder, owner of the Washington Commanders, is seeking to limit the release of attorney Mary Jo White's report into sexual misconduct allegations and financial improprieties against him. The contents of White's report are among the final major stumbling blocks to a sale of the team for $6.05 billion. Snyder's main leverage is time, to try to drag out the process. White has told lawyers and witnesses involved in the case that she expects her entire report to be made public, not just her findings.
Washington Commanders' team president, Jason Wright, believes that a sale of the team would provide a "substantial boost" to the organization. He stated that the team would be able to absorb the momentum of the ownership change and properly welcome the next group to take control of the team. The comments come amid intense anticipation among fans for the official departure of current owners Dan and Tanya Snyder.
Miami Dolphins coach Mike McDaniel joked about not getting free coffee while working as an assistant coach for the Washington Commanders and commented on the potential sale of the team by owner Daniel Snyder. McDaniel sees the increasing value of NFL teams as a positive sign for the league's health and growth. It is unclear if the sale of the Commanders will be discussed at the owners meetings this week.
Dan and Tanya Snyder have reportedly left the Washington Commanders team facility, with sources saying a sale of the team is "imminent" and could be approved and announced as soon as the upcoming NFL league meetings in Arizona. Potential buyers include Josh Harris, who has added Mitchell Rales to his bid, Tilman Fertitta, and possibly Jeff Bezos. However, there is still an issue to be resolved over Dan Snyder's request for indemnification from the other owners. NFL owners want to move on from Snyder as quickly and quietly as possible.