Owners Club Newsletter - April 1st
T-Wolves sale turns bitter, NFL owners delay private equity vote, Ipswich Town sells 'significant' minority stake, and the Orioles' sale is finally approved
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News & Highlights:
Planned T-Wolves, Lynx Sale Turns Bitter As Teams Pulled Off Market
MLB owners approve sale of Baltimore Orioles to David Rubenstein
Ipswich Town: US equity company buys 40% stake for 'up to £105m'
After the XFL-USFL merger, will the UFL finally make spring football a success?
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Recent Sports M&A News and Developments
Planned T-Wolves, Lynx Sale Turns Bitter As Teams Pulled Off Market - Front Office Sports - March 28th
One of the more complex team sales in recent sports history is now turning combative as Timberwolves and Lynx owner Glen Taylor (above, left) abruptly called off Thursday a planned transfer of controlling interest in the teams to Alex Rodriguez and Marc Lore, prompting a sharp rebuke from the prospective buyers that suggests the matter could be headed to litigation.
MLB owners approve sale of Baltimore Orioles to David Rubenstein - The Washington Post - March 27th
Major League Baseball’s owners Wednesday unanimously approved David Rubenstein as the new controlling owner of the Baltimore Orioles, a day before the team’s season begins. The vote, conducted during a conference call, means that for the first time in three decades, the Orioles will have a managing owner not named Angelos on Opening Day.
NFL owners delay private equity investment vote - Sports Pro Media - March 27th
National Football League (NFL) team owners have postponed a vote on whether to allow private equity firms to buy stakes in their franchises.
A committee comprising five owners had been tasked with setting out a model that would facilitate equity investment into the sport but has yet to finalise a framework. However, according to Sports Business Journal (SBJ), the group presented a preliminary proposal that was said to receive less pushback than anticipated, with no formal action taken.
NFL Succession Highlights Team Transfers From Aging Parents - Front Office Sports - March 26th
NFL owners are expected to approve the principal owner designation switch to the Texans’ Cal McNair (above, center) from his mother, Janice McNair (above, left), on Tuesday, a source says. In the coming months, the owners’ finance committee is expected to approve a similar switch from 49ers owner Denise DeBartolo to her son Jed York, the source says. Only a principal owner can vote in NFL meetings, unless they designate someone else.
The two situations are different, but they are connected by a broader issue in the NFL: the transfer of teams from aging parents to their heirs.
Ipswich Town: US equity company buys 40% stake for 'up to £105m' - BBC - March 22nd
US private equity firm Bright Path Sports Partners have bought a 40% stake in Championship club Ipswich Town at a cost of "up to £105m".
As a result, majority shareholder ORG has reduced its stake from 90% to 50%.
Ipswich are third in the table and hoping to return to the Premier League for the first time since 2002.
After the XFL-USFL merger, will the UFL finally make spring football a success? - Sports Pro Media - March 22nd
The inaugural United Football League (UFL) season marks the latest attempt to establish a successful spring football competition.
The merger between the XFL and the United States Football League (USFL), announced in September 2023, may not have initially been in the script for either property. However, in a market that no upstart league has yet proved capable of cracking, the decision to team up makes sense on several levels.
Ahead of kick off on 30th March, SportsPro looks at why the merger happened, what to expect this season, and how the UFL aims to cement itself as North America’s preeminent spring football league.
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