Owners Box: Club Member Newsletter - December 16th
Osaka and Mahomes join MLP investors, prominent VCs make push for Suns, Raine backs Textor in Lyon deal, and NBA opens up to sovereign wealth funds
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News & Highlights:
Report: Phoenix Suns receive US$3bn takeover bid from venture capitalist group
Manchester City Owner Close to Takeover Deal for Brazilian Club
ECB chair says The Hundred would cost “a few billion” amid private equity interest
NBA opens up team investment to pension and sovereign wealth funds
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Recent Sports M&A News and Developments
Osaka, Mahomes Among New Pickleball Investors - Front Office Sports - December 14th, 2022
Naomi Osaka and Patrick Mahomes are taking after other star athletes by joining Major League Pickleball. The pair are reportedly set to invest in a new MLP team based in Miami. Tennis star Nick Kyrgios, sports agent Rich Paul, and Soichiro Minami and Matthew Prizker are also expected to invest in the team, which will begin play next year.
Lyon Soccer Deal Bolstered By Addition of Raine Ventures - Front Office Sports - December 13th, 2022
An American investor will have help securing a takeover deal for a top French soccer club. Former FuboTV executive John Textor has agreed to acquire Ligue 1’s Olympique Lyonnais with Gordon Rubenstein, the managing partner of Raine Ventures — The Raine Group’s VC arm. “I think we have an incredibly strong group behind the effort, which is focused on creating value for the community,” Rubenstein told Bloomberg.
Golden Knights Owner Buys Premier League Team - Front Office Sports - December 13th, 2022
The owner of an NHL franchise has completed the purchase of a European soccer club.
Vegas Golden Knights owner Billy Foley and a consortium of investors have finalized their acquisition of Premier League club AFC Bournemouth in a deal worth $150.7 million.
Report: Phoenix Suns receive US$3bn takeover bid from venture capitalist group - Sports Pro Media - December 12nd, 2022
Two venture capitalists have made a US$3 billion bid for the National Basketball Association’s (NBA) Phoenix Suns, according to The Wall Street Journal (WSJ). The offer was reportedly submitted by Jack Selby, managing director of Peter Thiel’s Thiel Capital, and Shasta Ventures managing director Jason Pressman.
Manchester City Owner Close to Takeover Deal for Brazilian Club - Front Office Sports - December 7th, 2022
City Football Group is one step closer to adding another soccer club to its portfolio. The Manchester City owner is set to acquire Brazilian club Esporte Club Bahia in a deal reportedly valued at $133.7 million. The pact for a 90% stake in the club was approved by Bahia’s members at their general assembly with 98.6% in favor. CFG has full or partial stakes in 13 soccer clubs including MLS’ New York City FC and Australia’s Melbourne City FC.
ECB chair says The Hundred would cost “few billion” amid private equity interest - Sports Pro Media - December 5th, 2022
England and Wales Cricket Board (ECB) chair Richard Thompson has revealed an offer has been made for The Hundred but said the governing body would have to receive “a few billion” to consider selling its flagship competition.
Reports last month suggested private equity firm Bridgepoint Group had made a UK£400 million (US$490 million) offer for 75 per cent of the tournament.
NBA opens up team investment to pension and sovereign wealth funds - Sports Pro Media - December 2nd, 2022
The National Basketball Association (NBA) will permit sovereign wealth funds, endowments and pensions to acquire passive stakes in the league’s franchises.
The decision, which was first reported by Sportico, was passed during a recent vote by the NBA’s board of governors. League spokesperson Mike Bass reiterated in a statement to several US media outlets that any investment would still be subject to board approval and league review.
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