April 17, 2023

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The multibillion-dollar negotiations for NBA media rights could feature some fascinating corporate mind games, including a possible battle between ESPN and former league broadcaster NBC Sports — and a faceoff between rival companies: The Walt Disney Co. and NBCUniversal’s Comcast Corp. FOS senior writer Michael McCarthy takes you inside [[link removed]] the fight for NBA broadcasting rights.

Real Estate New Commanders Owner to Have More Stadium Options [[link removed]]

Patrick McDermott-USA TODAY Sports

Washington Commanders owner Dan Snyder stepped away from day-to-day duties when the NFL announced sanctions after the first outside investigation into the team.

“I will concentrate my time during the next several months on developing a new stadium plan and other matters,” Snyder said in a statement when his team was fined $10 million in July 2021.

Snyder toured other stadiums, hired lobbyists, and then focused his efforts on building a $3 billion domed stadium in Northern Virginia. After a promising start where it looked like the Commanders could get up to $1 billion [[link removed]] in public money, the proposed funding was cut down to $300 million before it was officially shelved [[link removed]] last June as scandals swirled around Snyder and his team.

“What had happened is an economic development opportunity for Virginia had, unfortunately, become a referendum on the commander’s owner,” State Del. David Reid (D-Loudoun County) told Front Office Sports.

Maryland — which was also reluctant to commit taxpayer money with Snyder in charge — could be back in play. The new owner would acquire FedEx Field and the 200 acres it sits on in Landover, and one possibility is building a new stadium on the land.

Returning to the site of RFK Stadium in D.C., where the team played for 36 seasons, is another option, although it’d require Congress to transfer the land to the District first.

Mayor Muriel Bowser has had discussions [[link removed]] with the NFL, and she said last week [[link removed]] the team would be “even more valuable when it comes home to Washington, D.C.”

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“You have this whole idea that now that games are 31 minutes shorter — in order to make up that revenue they’re going [to sell beer] into the eighth inning. But shouldn’t it be the sixth inning if you care about people leaving sober?”

— The Action Network’s Darren Rovell on MLB teams extending their alcohol sales into the eighth inning due to shortened game times. Hear about that, the future of streaming, and more on Front Office Sports Today.

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Executives Leeds Owner Could Sell Team to 49ers, Buy Inter Milan [[link removed]]

Inter Milan

The sale of a Serie A team could have a domino effect on the San Francisco 49ers.

Milan native Andrea Radrizzani is considering [[link removed]] a bid for Inter Milan at an estimated value of $1.1 billion, according to Bloomberg. Radrizzani owns 56% of Premier League club Leeds through his Aser Ventures, and a bid for Inter Milan could be contingent on selling his stake in Leeds.

The likely buyer in that scenario would be 49ers Enterprises, the investment arm of the NFL team, which already owns 44% of Leeds.

Leeds’ value could be impacted by its performance on the pitch. A poor finish could put Leeds in line for relegation, which would severely cut into its revenue from media rights and other sources.

The 49ers have an option to purchase all of Leeds that expires in January 2024. A demotion to the EFL Championship would likely end any possibility of a deal.

International Bidding War

Should Radrizzani bid for Inter, which is owned by Suning Holdings Group, he will likely have competition. A previous report said that a U.S.-based group of investors was close [[link removed]] to a deal. Another group from Bahrain could also make a bid.

Inter has faced issues with debts and player salaries, according to Bloomberg.

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Real Estate Pivotal Vote for New Coyotes Arena Set To Begin This Week [[link removed]]

Matt Kartozian-USA TODAY Sports

Currently playing in a 5,000-seat -capacity arena at Arizona State — the smallest in NHL history — the Arizona Coyotes are in dire need of a new home. Now, the long saga of their proposed new arena may finally be coming to an end.

Starting on April 19, the city of Tempe will mail out ballots for residents to vote on a referendum that would approve a $2.1 billion deal for a new arena. The project includes a 16,000-seat arena, an entertainment sector, a hotel, and private residences.

The project, proposed in September 2021, has generated major controversy.

In September 2022, it looked like the project would move forward, but the city of Phoenix sued [[link removed]] Tempe over its construction plans in December. On April 5, the company’s developer countersued [[link removed]] Phoenix, alleging the city was purposefully trying to obstruct construction plans.

Last week, NHL commissioner Gary Bettman spoke in favor of the vote, saying that he hoped the Coyotes could stay in Arizona — as long as they get a new arena.

“We believe that this is a place where hockey should be, permanently,” Bettman said [[link removed]]. “We believe that being a part of this great community is something that enhances our game … and that finally, we’re at a place where we can ensure the future of the Coyotes for the benefit — not just for the Coyotes or Coyotes fans, but for this community.”

The vote is officially scheduled for May 16.

Teams Browns Choose Team Name For Stadium, End Naming Rights Deal [[link removed]]

Kirby Lee-USA TODAY Sports

The Cleveland Browns and FirstEnergy Corp have mutually agreed to end their stadium naming rights deal, ending a sponsorship entangled in a political scandal.

Cleveland’s stadium has been called FirstEnergy Stadium since 2013, when the Akron-based electric utility company paid $107 million for a deal that was supposed to last through 2030.

The deal now ends about three years after news of FirstEnergy’s involvement in the 2020 Ohio nuclear bribery scandal in which $60 million was paid to a company controlled by Larry Householder, the former speaker of the Ohio House of Representatives, in exchange for passing a $1.3 billion bailout for nuclear power operators in the state.

FirstEnergy was fined $230 million for its role in the crime, and Cleveland’s city council passed nonbinding legislation [[link removed]] last year in favor of removing FirstEnergy as the Browns’ stadium sponsor.

The team’s stadium, originally built in 1999 upon the Browns’ return to the NFL, now reverts to its former name, Cleveland Browns Stadium.

A report last year said the Browns were seeking to build a publicly funded $1 billion new stadium [[link removed]], but team owner Jimmy and Dee Haslam denied the report. Cleveland mayor Justin Bibb pushed earlier this year for any new stadium or renovations to be conscious of Cleveland’s lakefront prosperity.

“It’s going to be important that we, as a community, find a way to not just think about the stadium, but the lakefront as an asset for the entire region,” Bibb said [[link removed]] in January.

Conversation Starters Know an up-and-coming young professional changing the game in the business of sports? Nominate them for the Front Office Sports Rising 25 Award [[link removed]]. Nominations are now open through May 2. It looks like Dan Snyder’s 24-year reign over the Washington Commanders is coming to an end. FOS senior reporter A.J. Perez will take [[link removed]] you through tentative new owner Josh Harris’s background, leadership style, and how we got here. The LeBron James Family launched with plans to revitalize the star’s hometown: Akron, Ohio. What started as one-off programs and a school has become: housing, a job training facility, and health services. FOS editor-in-chief Ernest Baker got a first-hand look [[link removed]] at the impact on Akron. Former Nets head coach and NBA legend Steve Nash listed his townhouse [[link removed]] in Brooklyn’s Cobble Hill neighborhood for $6.25 million. The 4,200-square-foot pad boasts five bedrooms, 4.5 bathrooms, a curved plaster staircase, landscaped garden, and a private roof deck with views of the Manhattan skyline.

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