April 13, 2023
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On the latest episode of Front Office Sports Today, FOS Editor-in-Chief Ernest Baker is back from Akron, Ohio, to discuss how LeBron James’ I PROMISE program is impacting the superstar’s hometown.
Listen and subscribe on Apple [[link removed]], Google [[link removed]], and Spotify [[link removed]].
Deals Josh Harris Strikes Tentative Deal for Washington Commanders [[link removed]]
Bill Streicher-USA TODAY Sports
A group led by Josh Harris has reached a tentative deal to acquire the Washington Commanders, a source with knowledge of the process told Front Office Sports on Thursday.
For weeks, the Philadelphia 76ers and New Jersey Devils owner had been the lone legitimate contender for the franchise. And while sources told FOS the deal isn’t official yet, it’s expected to be announced in the coming days.
Harris’s group, which includes billionaire industrial firm co-founder Mitchell Rales and NBA legend Magic Johnson — and is expected to include others — will pay about $6 billion for the Commanders.
Commanders owner Dan Snyder, who paid $800 million for the franchise in 1999, was left with few options.
Amazon founder Jeff Bezos and Houston Rockets owner Tilman Fertitta are no longer options, and since no other bidder with the means to purchase the team has materialized, Harris has been Snyder’s only viable choice
Harris’ bid of around $6 billion has outstripped what others are willing to pay for the franchise that’s been on a downward spiral for years amid multiple investigations, lawsuits, and even a potential push to remove Snyder as owner.
Sportico reported [[link removed]] an agreement had been reached.
FOS reported on Wednesday that Bezos, who hired a banking firm to explore the purchase, would not enter the bidding. Fertitta told CNBC on Wednesday that he put in a $5.6 billion bid, although he confirmed that he was no longer involved in the process.
AWARDS
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The Front Office Sports Rising 25 Award [[link removed]], presented by Anheuser-Busch, celebrates the careers of the brightest young stars in the business of sports. To date, we’ve honored 150 individuals and we’re looking for our next group of young stars.
Nominations are open NOW through Tuesday, May 2. Winners will be announced in June.
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Teams Finnish Billionaire Exits Manchester United Bidding [[link removed]]
Manchester United FC
After announcing [[link removed]] a third round of bids to purchase the club, Manchester United has lost one of its potential buyers.
Finnish billionaire Thomas Zilliacus — who entered [[link removed]] the fray when the second round’s deadline was extended — announced [[link removed]] in a series of tweets that he won’t submit a third bid to buy Man United.
“The bidding is turning into a farce, with [the] Glazers giving no respect to the club,” Zilliacus said in the first tweet. “The delays will make it very difficult for any new owner to build a winning team for next season.”
Zilliacus went on to say that he and the other two public finalists to buy the team outright — Qatar’s Sheikh Jassim bin Hamad Al Thani and Britain’s Jim Ratcliffe — were ready to negotiate with the Glazers, who instead announced a third round of bidding.
Zilliacus characterized [[link removed]] the situation as “a farce set up to maximize the profit for the sellers at the expense of Manchester United.”
The Glazer family is apparently still insisting on a purchase price of $7.5 billion — which would easily make the sale the largest in the history of pro sports. Sheikh Jassim and Ratcliffe have both reportedly submitted bids of around $6.2 billion, which would still break the record.
The latest turn of events will likely fuel continued speculation from across Europe that the Glazers have no intention of actually selling the storied club.
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Sports Betting Premier League to Ban Gambling Sponsors On Front of Shirts [[link removed]]
Tommy Gilligan-USA TODAY Sports
The U.K.’s top sports league is taking big steps to reduce advertising from the betting industry.
On Thursday, the Premier League announced [[link removed]] that its clubs have collectively agreed to remove all gambling companies as sponsors on the front of players’ jerseys by the end of the 2025-26 season.
Teams will reportedly still be allowed to feature gambling sponsors on shirt sleeves, as well as through signage in stadiums.
The league came to the decision after consulting with the U.K. government’s Department for Culture, Media, and Sport, which is currently reviewing legislation related to gambling in the country.
The Premier League plans to work with other leagues to develop “a new code for responsible gaming sponsorship.”
Eight clubs — Bournemouth, Brentford, Everton, Fulham, Leeds, Newcastle, Southampton, and West Ham — currently feature betting companies as their shirt-front sponsor, with those deals collectively worth [[link removed]] about $75 million per year.
While several major European soccer leagues have instituted similar measures in recent years, the U.K.’s league is reportedly the first to do so voluntarily.
Serie A clubs have been prohibited from using gambling companies for main shirt sponsors since 2019, when the Italian government passed a new set of laws, while Spain’s La Liga has had similar measures in place since 2021.
Conversation Starters BetMGM recorded a 30% increase [[link removed]] in handle for this year’s NCAA women’s basketball tournament compared to last year. Former Philadelphia Phillies great Jimmy Rollins has relisted [[link removed]] his Encino, California, mansion for a reduced price of $10.8 million after paying $8.7 million for it in 2018. Take a look at early renderings [[link removed]] for a potential MLB stadium in Salt Lake City.
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What to Watch
The St. Louis Blues will take on the Dallas Stars on Thursday night at American Airlines Arena in Dallas.
How to watch: 8 p.m. ET, ESPN
Gambling odds: Blues +1.5 || ML Blues +220 || O/U 6.5
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