Owners Box: Club Member Newsletter - January 30th
Flurry of Investment Activity into Women's Sports, Lyon Going Public via SPAC, Bezos Commanders Update
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News & Highlights:
NWSL Set to Expand With Record-Setting $50 Million Franchise Fees
Women’s Indian Premier League Cricket Team Rights Sold for $572 Million
Jeff Bezos may sell Washington Post to buy Commanders, investors say
US owners plan Lyon to become first soccer SPAC to go public
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Recent Sports M&A News and Developments
NWSL Set to Expand With Record-Setting $50 Million Franchise Fees -Â Wall Street Journal - January 27th, 2023
The National Women’s Soccer League is in advanced discussions to expand by three teams, according to people familiar with the situation, with two of those teams set to pay around $50 million each in franchise fees that dwarf previous payments required to enter the league.
The new teams are set to launch in the San Francisco Bay Area, Boston and Utah. The Bay Area and Boston groups each have agreed to pay about $50 million for a team. Owners in Utah will pay between $2 million and $5 million, an arrangement agreed to a few years ago.
San Francisco and Utah are set to begin play in 2024, with Boston launching later.
Women’s Indian Premier League Cricket Team Rights Sold for $572 Million - Variety - January 25th, 2023
The Board of Control for Cricket in India has sold city-based team franchise rights for the inaugural Women’s Indian Premier League (WIPL) for INR46.7 billion ($572 million).
The most expensive franchise was Ahmedabad, which was sold to Adani Sportsline for $158 million. Three of the other franchises have been bought by companies who also own the city franchises for the men’s IPL. Billionaire Mukesh Ambani’s Indiawin Sports acquired the Mumbai franchise for $111 million, Royal Challengers Sports Bengaluru for $110 million and JSW GMR Cricket Delhi for $99 million. Capri Global Holdings acquired the Lucknow franchise for $93 million.
Arte Moreno No Longer Pursuing Sale Of Angels - MLB Trade Rumors - January 23rd, 2023
The Angels announced that the Moreno family is ending the exploratory process to sell the team and will continue ownership throughout the 2023 season and beyond.
He purchased the team from the Walt Disney Company for $184MM in April of 2003. The Angels were reigning champions at that time, having won the 2002 World Series. They qualified for the postseason a few times in the next few years but have since gone into a dry spell.
Jeff Bezos may sell Washington Post to buy Commanders, investors say - NY Post - January 23rd, 2023
Chatter is growing that Amazon’s billionaire founder is looking to clear the way for a purchase of the Washington Commanders by selling the Washington Post — with speculation boosted last month by leaked video of publisher Fred Ryan disclosing layoff plans at an unruly town hall meeting.
Some even believe that Snyder suspects Bezos, who bought the Washington Post in 2013 for $250 million, encouraged the tough coverage in 2020 in a bid to force him to sell him the team.
Saudi Arabia Explored Bid to Buy F1 for Over $20 Billion -Â Front Office Sports -Â January 20th, 2023
Saudi Arabia reportedly looked into buying Formula 1 and remains interested, should the opportunity arise.
The country’s sovereign wealth fund, the $620 billion Public Investment Fund, was interested in purchasing the global racing series from Liberty Media, according to Bloomberg.
US owners plan Lyon to become first soccer SPAC to go public -Â World Soccer Talk - January 18th, 2023
United States businessman John Textor has plans to take Olympique Lyonnais public in the near future. Textor, through his London-based company Eagle Football Holdings, bought a majority stake of the French club last month. The move reportedly cost the investors about $940 million.
Along with a 78% slice of Lyon, Textor’s company also owns Brazilian club Botafogo, Belgian team RWD Molenbeek as well as a 40% stake in Premier League side Crystal Palace (hence the company’s name).
Endeavor, Dinan Invest in SRX Racing at $40M Valuation -Â Sportico - January 18th, 2023
Superstar Racing Experience, also known as SRX Racing, has raised $8 million in its latest funding round at a $40 million valuation. The added cash flow allows the summer series to expand its footprint and capitalize on potential international opportunities.
Agency giant Endeavor and hedge fund manager Jamie Dinan are among other sports owners who were part of the latest funding round. Both have varying ownership experiences. Endeavor owns Ultimate Fighting Championship and Professional Bull Riders, while Dinan is co-owner of the NBA’s Milwaukee Bucks and recently gained a stake in French soccer club Lyon.
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