April 17, 2023

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Action Network’s Darren Rovell stops by Front Office Sports Today to discuss the rise of legalized sports betting in the U.S. and MLB teams selling beer into the eighth inning. Plus, we’re joined by Pamela Duckworth, head of Fubo Sports Network, on the future of watching sports in the cord-cutting era — and being an executive in a male-dominated industry.

Listen and subscribe on Apple [[link removed]], Google [[link removed]], and Spotify [[link removed]].

Deals Glazers Move Closer to Outside Investment, Keeping Man United [[link removed]]

MUFC

It’s looking more and more likely that Manchester United won’t be under new majority ownership after all.

Executive co-chairmen Joel and Avram Glazer are confident they’ll secure outside funding that will allow them to remain owners of Man United and double the value of the club over the next decade, according [[link removed]] to ESPN.

Several notable firms — including Elliott Investment Management, Ares Management Corporation, and Sixth Street Partners — have all thrown their hat in the ring for a potential stake in United.

Most recently, The Carlyle Group has engaged in talks with the Glazers about a potential minority investment, according to multiple reports. With over $370 billion in assets, U.S.-based Carlyle is one of the largest [[link removed]] private equity firms in the world.

If Joel and Avram Glazer are able to lock up the cash injection, their siblings and fellow directors Kevin, Bryan, Edward, and Darcie could offload their shares.

Selling minority shares and avoiding an outright sale would be an unwelcome development for the finalists looking to purchase the club outright.

Qatar’s Sheikh ­Jassim bin Hamad Al Thani and U.K. billionaire Jim Ratcliffe each reportedly [[link removed]] submitted bids for more than $6.2 billion to buy Manchester United — which would have made the club’s sale the most expensive in the history of professional sports.

However, the Glazers are looking for around $7.4 billion to sell the whole thing, opening up a third round [[link removed]] of bidding when that number wasn’t met.

AWARDS

Rising 25 is back, and it’s time to nominate an up-and-coming young professional changing the game in the business of sports!

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.

Nominate [[link removed]] today!

Teams A’s Fans Plan Protest Directed at Owners of Last-Place Team [[link removed]]

Darren Yamashita-USA TODAY Sports

Oakland A’s fans are showing up to the ballpark with a message: We are not the problem.

Fan group Rooted in Oakland is organizing [[link removed]] a “reverse boycott” on June 13, in which fans will come to the game to show that they are willing to support the team if its ownership shows its own commitment to the city and club.

The team is exploring a $12 billion, stadium-centered development by the city waterfront, but also multiple sites in Las Vegas.

“Our group consists of many A’s fans who are tired of being mistreated by A’s owner John Fisher and organization president Dave Kaval,” Rooted in Oakland told Front Office Sports. “We are here to show that the fans are in Oakland, we just need an owner who is committed towards fielding a successful team.”

The A’s had a league-low average home-game attendance of 9,973 last year and sit at the bottom again this season through nine home games at 12,254.

The A’s, who made the playoffs each year from 2018-2020, have seen nearly all of their best talent traded since then, leading manager Mark Kotsay to claim “It feels like an uncompetitive environment” after a 17-6 loss to the New York Mets (whose $358 million payroll [[link removed]] is more than six times larger).

The A’s 3-13 record is currently the worst in baseball.

A spokesperson for the city of Oakland told FOS that negotiations with the team are ongoing but declined to comment further.

SPONSORED BY WSC SPORTS

How Clemson is Growing Fan Engagement

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Sports Betting Sports Betting Giant Selling Its U.S. Operations [[link removed]]

PointsBet

PointsBet’s U.S. business is now on the market.

The Australian-based betting company has reportedly [[link removed]] hired investment bank Moelis & Company to facilitate a sale of its North American operations.

“We believe further industry consolidation is inevitable,” PointsBet told [[link removed]] The Australian Financial Review.

The company has struggled to gain market share in the U.S., reportedly ranking as the seventh-largest sports betting operator in the country behind leaders DraftKings and FanDuel.

PointsBet was in talks to sell to Australian betting company Betr in late 2022 but never completed the sale.

PointsBet posted $120 million in revenue for the second half of 2022 — a 28% increase year-over-year, chalked up primarily to reduced marketing costs that included renegotiating its marketing deal with NBCUniversal. It also saved money by withdrawing its application to operate in Massachusetts, which launched online sports betting in March. The sportsbook is live in 14 states.

While PointsBet’s U.S. operations have been disappointing, they haven’t been fruitless: It reported a total sports betting handle of $1.1 billion for the first half of the 2023 fiscal year.

There should be plenty of suitors to take over the operation. Fanatics had reportedly [[link removed]] looked into buying the company over a year ago.

Conversation Starters Since the Supreme Court legalized sports betting [[link removed]] nationwide, more than $3 billion has been generated in taxes. As betting moves to legal U.S. books, bettors should be aware of potential tax liabilities. FOS Senior Reporter A.J. Perez provides an overview of the new betting landscape. With excitement building for Monday’s start of the 2023 Stanley Cup Playoffs, the Walt Disney Co. is making a strong showing [[link removed]] in hockey advertising sales. Disney is expected to book over $40 million in sales for its Stanley Cup coverage, sources told FOS Senior Reporter Michael McCarthy. Apple will release its new documentary [[link removed]] “Stephen Curry: Underrated” in July. The film will chronicle Curry’s rise from an undersized player at Davidson to a four-time NBA champion.

FRONT OFFICE SPORTS LEARNING

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What to Watch

The Golden State Warriors will take on the Sacramento Kings in Game 2 of their first-round playoff series at Golden 1 Center Monday night in Sacramento.

How to watch: 10 p.m., TNT

Betting odds: Warriors -1.5 || ML Warriors -126 || O/U 239.5

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