Owners Club Newsletter - July 31st
Saudi Money could be coming to the NBA, Arctos increases stake in the 76ers, EPL not Concerned by Saudi Investment, and Charlotte Hornets Sale Approved
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News & Highlights:
Arctos Makes Second Investment In 76ers, Devils At Higher Valuation
Premier League CEO Richard Masters ‘not too concerned’ by Saudi Arabia’s soccer investment
Michael Jordan’s $3B Charlotte Hornets Sale Approved By NBA
NFL Approves $6 Billion Deal for Commanders, and Dan Snyder’s Exit
Report: Saudi Arabia’s PIF holds talks over buying into tennis’ United Cup
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Recent Sports M&A News and Developments
Could Saudi Money Be Coming to the NBA, Too? - Bloomberg - July 28th
The Saudis are already paying Cristiano Ronaldo $220 million over two years. Lionel Messi turned the Saudis down, but surely the offer increased his bargaining power with MSL’s Inter Miami, where his deal is valued at $50 to $60 million annually.
Might the Saudis consider something similar for a US basketball star? Lebron James already tweeted that he would gladly accept a comparable offer, and many others would accept far less.
Arctos Makes Second Investment In 76ers, Devils At Higher Valuation - Sportico - July 27th
Arctos Sports Partners has purchased a larger stake in Harris Blitzer Sports & Entertainment, parent of the Philadelphia 76ers and New Jersey Devils, according to multiple people familiar with the matter.
The private equity fund first invested in HBSE, led by Josh Harris and David Blitzer, at a $3 billion valuation last year. This second investment came at a higher number, said the people, who were granted anonymity because the details are private. HBSE carries a topline valuation of $4 billion, the people said, though Arctos is paying less than that thanks to an LP discount.
Premier League CEO Richard Masters ‘not too concerned’ by Saudi Arabia’s soccer investment - SportsPro Media - July 25th
The Saudi Pro League made headlines in January with the signing of Cristiano Ronaldo, which has only been a prelude to more extravagant spending this summer.
Clubs in the country’s top flight, four of which are owned by the kingdom’s Public Investment Fund (PIF), have signed the likes of Real Madrid’s Karim Benzema and Chelsea’s N’Golo Kante, with Al Hilal most recently tabling a world-record €300 million (US$332 million) bid for Paris Saint-Germain’s Kylian Mbappe.
While Masters acknowledged the aggressive moves being made by the Saudi Pro League, he pointed to the Premier League’s global appeal and multi-billion pound revenue streams – something he said took decades to achieve.
Michael Jordan’s $3B Charlotte Hornets Sale Approved By NBA - Sportico - July 24th
The Charlotte Hornets are officially under new ownership.
Over the weekend, the NBA’s Board of Governors approved Michael Jordan’s $3 billion sale of the Hornets to a group led by Gabe Plotkin and Rick Schnall, according to a source familiar with the deal. ESPN was the first to report the news.
N.F.L. Approves $6 Billion Deal for Washington Commanders, and Dan Snyder’s Exit - NY Times- July 20th
Owners of the N.F.L.’s 31 other teams unanimously approved the sale of the Washington Commanders to a group led by Josh Harris, the private equity billionaire, who agreed to pay a record $6.05 billion to Daniel Snyder, the scandal-plagued owner of the team.
Saudi Arabia’s PIF holds talks over buying into tennis’ United Cup - SportsPro Media - July 20th
PIF representatives reportedly met with Tennis Australia officials last week at Wimbledon to discuss an investment that would involve moving the joint Association of Tennis Professionals (ATP) and Women’s Tennis Association (WTA) event to Saudi Arabia.
Study: F1 average team value increases 276% to US$1.88bn - SportsPro Media - July 19th, 2023
Headlining the team values, Ferrari and Mercedes are estimated to be worth US$3.9 billion and US$3.8 billion, respectively.
Red Bull (US$2.6 billion) and McLaren (US$2.2 billion) are both valued at over US$2 billion, with estimated 2023 revenues of US$510 million and US$490 million, respectively.
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