Owners Box: Club Member Newsletter - January 16th
Vince McMahon and the WWE prepare for sale, Jake Paul joins the PFL, and Warriors Owner Joe Lacob looking to purchase MLB team in California
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:
Odell Beckham Jr. Joins Mexico’s Club Necaxa, D.C. Pickleball as an Investor
LAFC Overhauls Cap Table, Sets Stage for New Investors at Record Price
Report: Ottawa Senators could be NHL’s first Black-owned team as Neko Sparks readies bid
Jake Paul Signs Multiyear Contract with Pro Fighting League, Includes Company Equity
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Recent Sports M&A News and Developments
WWE Hires Outside Advisors for Potential Sale, Rights Talks - Front Office Sports - January 12th, 2023
The WWE is taking the next steps toward a multi-billion dollar sale.
The pro wrestling giant announced Thursday night it had retained The Raine Group LLC as a financial advisor, Kirkland & Ellis LLP as legal advisor, and August LLC as strategic communications advisor.
The outside firms will help support WWE management and its reshuffled board of directors as they review “strategic alternatives” to maximize shareholder value, according to founder and executive chairman Vince McMahon.
Patrick Mahomes unveiled as KC Current co-owner - SportsPro Media - January 11th, 2023
National Football League (NFL) star Patrick Mahomes has become a co-owner of the National Women’s Soccer League’s (NWSL) Kansas City Current, joining his wife Brittany Mahomes who was a founding partner of the Current in 2020.
The move sees Mahomes, 27, add to an investment portfolio that also includes other local major league teams: Sporting Kansas City in Major League Soccer (MLS) and Major League Baseball’s (MLB) Kansas City Royals.
Odell Beckham Jr. Joins Mexico’s Club Necaxa, D.C. Pickleball as an Investor - Sportico - January 10th, 2023
NFL wide receiver Odell Beckham, Jr. now owns a stake in Mexican soccer’s Club Necaxa and Major League Pickleball’s expansion franchise in Washington D.C.
Beckham bought into the investor group led by Americans Al Tylis and Sam Porter. The group, which fully owns the D.C. pickleball team, purchased a 50% stake in Necaxa at a valuation in the low nine figures at the end of 2021. The soccer club, based in Aguascalientes, was valued at $150 million in 2021 when it sold a 1% equity stake for $1.5 million via NFT; currently, the club is valued in the mid-to low-$200 million range.
LAFC Overhauls Cap Table, Sets Stage for New Investors at Record Price - Sportico - January 10th, 2023
LAFC is entering the new year with an MLS title to defend, a new lead managing owner and an overhauled cap table.
The club spent much of this past season simultaneously courting capital at MLS-record numbers and buying out some existing minority partners, many with very small stakes, according to multiple people familiar with the discussions. More than a half-dozen investors have sold out of their equity, which will get the team closer in line with league limits, said the people, who were granted anonymity because the specifics are private.
Report: Ottawa Senators could be NHL’s first Black-owned team as Neko Sparks readies bid - SportsPro Media - January 9th,2023
A group led by Los Angeles-based businessman Neko Sparks is preparing a takeover bid for the National Hockey League’s (NHL) Ottawa Senators, according to The Athletic.
The Athletic now reports that Sparks, who owns both a technology firm and a media production company, is keen to become the first Black owner of an NHL team. He is said to be leading a consortium including between 13 and 15 North American investors, with about 75 per cent of the group being made up of people of colour.
Sparks’ group is reportedly willing to pay around US$950 million for the franchise. The Senators were most recently valued at US$800 million by Forbes last month, ranking as the 24th most valuable NHL franchise.
Warriors Owner to ‘Look At’ Buying Los Angeles Angels - Front Office Sports - January 6th, 2023
One of the NBA’s most successful owners could expand his California sports empire.
On a recent podcast for The Athletic, Golden State Warriors majority owner Joe Lacob said that he and his group would “look at” buying the Los Angeles Angels, considering it “a huge market” and “part of that L.A. overall market.”
The Angels have been for sale since August, when owner Arte Moreno hired Galatioto Sports Partners to explore a sale of the franchise. The club could command at least $2.5 billion — which would be a record for an MLB team.
Jake Paul Signs Multiyear Contract with Pro Fighting League, Includes Company Equity - Bleacher Report - January 5th, 2023
According to Kris Rhim of the New York Times, the influencer-turned-boxer signed a multiyear contract with the Professional Fighters League.
He plans on fighting mixed martial arts in 2023 in a division called Super Fight and, along with business partner Nakisa Bidarian, has an equity share of the company.
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