Owners Box: Club Member Newsletter - February 14th
Introducing the Owners Box Podcast - Now Available; Ballys bankruptcy, Melo's new fund, Knicks/Rangers consider minority stakes, Ford returns to F1
Owners Box is FanClub Sports’ newsletter and investment community. Every other week we breakdown the recent news in sports investment, M&A, and technology
Introducing the Owners Box Podcast - Available Now!
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News & Highlights:
Carmelo Anthony, WWE Board Members Launch $750 Million Sports Fund
MSG Sports would consider selling New York Knicks and Rangers minority stakes
Study: Women’s sports revenue set to grow more than 15% over next three to five years
Man City charged by Premier League for multiple financial fair play breaches
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Recent Sports M&A News and Developments
Bally Sports RSNs Planning for Bankruptcy - Sportico - February 10th, 2023
Diamond Sports Group, a collection of 19 regional sports networks (RSNs) doing business as Bally Sports, is planning to file for bankruptcy next week, according to multiple people familiar with the plan. The group currently controls the local broadcast rights to more than 40 teams in the NBA, NHL and MLB, and its bankruptcy would be a significant blow to the cable network model that has lucratively buoyed U.S. sports for the past 50 years.
Diamond is owned by Sinclair Broadcast Group (Nasdaq: SBGI), which bought the RSNs in a debt-heavy $9.6 billion deal back in 2019. Since then, it has struggled to right the business as consumers rush to abandon cable and Diamond struggles to define its digital future.
Carmelo Anthony, WWE Board Members Launch $750 Million Sports Fund - Sportico - February 9th, 2023
Isos Capital Management Founders and Co-CEOs George Barrios and Michelle Wilson announced a partnership with 10-Time NBA All-Star and entrepreneur Carmelo Anthony to launch Isos7 Sports Investments.
The platform will provide growth capital, targeting $50 million to $100 million per investment, to a diversified portfolio of sports leagues, teams, emerging properties, and ancillary businesses in North America, Europe, and pan-Asia.
Isos7, which is 100% founded and led by a diverse management team, will commit 1% of its profits to support underrepresented populations and underserved communities.
Bluestone Equity Partners Launches with $300 Million Growth Equity Fund Investing in Sports, Media & Entertainment - Business Wire - February 9th, 2023
Bluestone Equity Partners (Bluestone), a private equity firm, today announced the successful closing of Bluestone Capital I, L.P., its inaugural $300 million growth equity fund focused on the global sports, media & entertainment industry.
Led by Founder & Managing Partner Bobby Sharma and Partner Kyle Charters, Bluestone will target established businesses and proven assets that will benefit from the management team’s unique combination of blue-chip business and investment experience, extensive global network, and successful track record.
MSG Sports would consider selling New York Knicks and Rangers minority stakes - SportsPro Media - February 7th, 2023
Madison Square Garden (MSG) Sports president David Hopkinson has said the company would consider offers for a minority stake in the National Basketball Association’s (NBA) New York Knicks or the National Hockey League’s (NHL) New York Rangers.
MSG and its executive chairman James Dolan have long resisted calls to sell either franchise. Last month, Dolan maintained his stance in an interview with the WFAN radio station, saying: “I have no plans whatsoever to sell at this point. I’m not retiring anytime soon. It’s a family-controlled asset, so someone in the family will eventually own it.”
In terms of recent valuations, Forbes estimates the Knicks to be worth US$6.1 billion and Sportico pegs the Rangers at US$2.01 billion, the second highest in the NBA and NHL respectively.
Study: Women’s sports revenue set to grow more than 15% over next three to five years - SportsPro Media - February 7th, 2023
More than 70 percent of sports executives believe women’s sports revenue will grow by more than 15 percent over the next three to five years, according to PricewaterhouseCoopers (PwC).
The global professional services firm’s latest ‘Global Sports Survey’, which features responses from 507 senior sports executives from across 43 countries, found that the majority of respondents view the women’s sport market as a critical part of future industry growth.
This forecast, according to PwC, is supported by the growing interest from media companies and sponsors who are increasingly seeking to realise the opportunities women’s sport offers, with a number of improved partnerships formed in the past year.
Man City charged by Premier League for multiple financial fair play breaches - ESPN - February 6th, 2023
Manchester City has been charged by the Premier League over breaking financial rules across nine seasons.
The Premier League confirmed that a number of alleged breaches between the 2009-10 and 2017-18 seasons have been referred to an independent commission with the conclusion of a four-year investigation.
The commission will be held in private and can impose open-ended sanctions, which could include fines, points deductions or relegation from the Premier League.
Ford Joins World Champions Red Bull in Formula 1 - Front Office Sports - February 3rd, 2023
Ford will team with Red Bull starting in 2026, when new engine regulations kick in.
Ford and Red Bull Powertrains will collaborate to build F1 power units for the Red Bull Racing and Alpha Tauri teams, both owned by Red Bull.
The automaker said it “will provide expertise in areas including battery cell and electric motor technology as well as power unit control software and analytics.”
Red Bull was previously in talks on a similar deal with Porsche, but those broke down over Red Bull’s reticence to sell half of its Powertrains company. Red Bull currently works with Honda in a deal that runs through the 2025 season.
DISCLAIMER
This newsletter is confidential and may not be distributed, transmitted or otherwise communicated to others, in whole or in part, without the express consent of FanClub Sports Capital Inc.
This newsletter does not constitute an offer to sell, or the solicitation of an offer to buy, any security, product or service, including interests in the fund.
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