Owners Box: Club Member Newsletter - September 19th
A-Rod scrambling to raise money for T-Wolves, Man U draws interest from Dubai, Kings' owner sets sights on Inter, and Red Bull/Porsche F1 pact perishes
Owners Box is FanClub Sports’ newsletter and investment community. Every other week we breakdown the recent news in sports investment, M&A, and technology
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News & Highlights:
Report: Los Angeles Angels bid being readied by Patrick Soon-Shiong
Sacramento Kings Co-Owner Vivek Ranadive Interested In Purchasing Inter From Suning
Red Bull and Porsche F1 deal collapses over failure to secure equal partnership
Nate Diaz announces launch of combat sports promotion Real Fight Inc. ahead of UFC 279
The £3.75BILLION price tag put on Manchester United by the Glazers could tempt interest from Dubai
Tim Tebow part of ownership group for USL’s Jacksonville expansion team
Report: Alex Rodriguez 'Scrambling' to Raise Money for Timberwolves Ownership Deal
Billionaire Sports Owner Harris Builds New $5 Billion Investment Firm (BONUS)
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Recent Sports M&A News and Developments
Report: Los Angeles Angels bid being readied by Patrick Soon-Shiong - Sports Pro Media - September 12th, 2022
Los Angeles Times owner Patrick Soon-Shiong is considering a bid for Major League Baseball’s (MLB) Los Angeles Angels, according to Sportico.
The 70-year-old, who Forbes says has a net worth of US$6.9 billion, has been a minority owner of the National Basketball Association’s (NBA) Los Angeles Lakers since 2010 but is now looking to take majority control of a US sports team.
Sacramento Kings Co-Owner Vivek Ranadive Interested In Purchasing Inter From Suning, -Â Sempre inter - September 10th, 2022
This according to today’s print edition of Turin-based newspaper Tuttosport, who report that the US-based business executive and software engineer is considering a bid for the Nerazzurri, although he would consider Suning’s €1.2 billion valuation to be excessive.
Ranadive is the founder of a number of companies in the IT sector, and former CEO of TIBCO Software, whilst he had also been a shareholder and former Vice-President of NBA franchise the Golden State Warriors before selling his shares in 2013 to take up a position with the Sacramento Kings in 2013.
Red Bull and Porsche F1 deal collapses over failure to secure equal partnership -Â Sports Pro Media -Â September 9th, 2022
Porsche’s proposed entry into Formula One through a partnership with Red Bull Racing is off, the German auto manufacturer has announced.
Porsche had been expected to join the global motorsport series in 2026 and take a 50 per cent stake in the UK-based team.
However, Auto Motor und Sport (AMuS) reported at the end of August that the deal was in doubt, with Red Bull advisor Helmut Marko, team principal Christian Horner and technical director Adrian Newey pushing for greater independence.
Nate Diaz announces launch of combat sports promotion Real Fight Inc. ahead of UFC 279 -Â USA Today -Â September 4th, 2022
Ahead of the final bout on his UFC contract,Nate Diaz has announced a new venture tied to the fight game.
Diaz, one of the most popular names in MMA, is set to launch his own combat sports promotion, Real Fight Inc., which plans to host MMA, boxing and jiu-jitsu events. A Diaz representative told MMA Junkie the process has began to receive licensure to promote in the state of California, where the Stockton native currently resides.
The £3.75BILLION price tag put on Manchester United by the Glazers could tempt interest from Dubai - Daily Mail - September 4th, 2022
Around £3.75billion would be enough to prise Manchester United from the Glazer family, according to well-placed sources.Â
It remains to be seen whether such a figure would be palatable to Britain’s richest man and United supporter Jim Ratcliffe, who failed with a recent bid for Chelsea.
It may well, however, be within the range of a sovereign wealth fund such as Dubai, which is yet to follow Abu Dhabi (Manchester City) and Saudi Arabia (Newcastle United) in adding a top-flight club to its portfolio. The Emirate is rumoured be a contender.
Tim Tebow part of ownership group for USL’s Jacksonville expansion team - Sports Pro Media - August 31st, 2022
The United Soccer League (USL) has announced plans for an expansion franchise in Jacksonville that is aiming to begin play in 2025.
The new club will be the first in Northeast Florida to feature both men’s and women’s professional soccer team. The Jacksonville teams will compete in the USL Championship and USL Super League respectively.
Rights to the expansion franchise have been acquired by JAXUSL, a Jacksonville-based group of investors and executives led by Ricky Caplin, co-founder and chief executive of The HCI Group. Former National Football League (NFL) player Tim Tebow is part of the ownership group, with soccer executive Steve Livingstone and local area business leader Tony Allegretti also onboard.
Report: Alex Rodriguez 'Scrambling' to Raise Money for Timberwolves Ownership Deal - Bleacher Report - August 29th, 2022
Alex Rodriguez's deal to buy the Minnesota Timberwolves for $1.5 billion is reportedly in jeopardy.
Per Josh Kosman of the New York Post, Rodriguez was supposed to be an equal partner with e-commerce billionaire Marc Lore when they made a $250 million down payment in July 2021 that netted them a 20 percent stake in the team. However, Rodriguez reportedly failed to pay his full share and only came up with seven percent, while Lore covered the remaining 13 percent.
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