From Front Office Sports <[email protected]>
Subject Could Saudi Arabia Invest In NBA?
Date June 12, 2023 11:08 AM
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June 12, 2023

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The No. 3 took on a special meaning for each of the 2023 French Open champions over the weekend. Iga Swiatek captured [[link removed]] her third title at Roland Garros on Saturday. And then on Sunday, Novak Djokovic won his third French Open title [[link removed]] — a record 23 Grand Slam men’s singles title.

Could The NBA Be Open For Saudi Arabia’s Business? Maybe [[link removed]]

Darren Yamashita-USA TODAY Sports

With Saudi Arabia’s Public Investment Fund working its way deeper into professional golf via its new pact [[link removed]] with the PGA Tour, it’s fair to wonder what other sports the country will be interested in soon.

NBA commissioner Adam Silver won’t completely outrule the possibility of the Saudi PIF entering the league in some shape or form, given the NBA recently decided to allow [[link removed]] sovereign wealth funds to buy minority stakes in franchises.

“People are a little too dismissive these days about the benefits that come from the commonality around sports,” Silver said during a recent appearance [[link removed]] on “The Dan Patrick Show” while discussing the PGA Tour deal.

While he noted sportswashing concerns associated with Saudi Arabia makes investment from the country a “two-edged sword,” he is bullish on sports presenting “an opportunity to bring people together.”

Silver clarified that the Saudis have not made any official inquiries about buying into an NBA club. “They certainly haven’t come to the league office,” he said.

The PIF owns Premier League Newcastle United but any investment in the NBA would have to be for a non-controlling stake.

“We allow funds to invest in teams but not control teams, not to have influence over teams,” Silver explained.

The NBA in 2022 began playing [[link removed]] preseason games in Abu Dhabi, which has its own human rights violations but not on the same level as Saudi Arabia.

Judging by Silver’s comments, it sounds like the NBA would be open to investment from the Saudi PIF, especially at the right price.

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Big Ten Schedule Scraps Divisions, Keeps Rivalries [[link removed]]

Gary A. Vasquez-USA TODAY Sports

The Big Ten Conference has given an early look of how its new national footprint will work competitively.

Following the dramatic addition of USC and UCLA to create college sports’ first coast-to-coast conference, the Big Ten unveiled [[link removed]] football schedule templates for the 2024 and 2025 seasons. Ending the conference’s divisional format, all 16 teams will use a new “flex protect plus” model which blends rotating opponents and protected rivalries.

Each team will still play nine intraconference games per year, and face every other conference opponent at least twice in a four-year period.

Perhaps most critically, rivalries such as Michigan-Ohio State and UCLA-USC that are a bedrock of college football will remain annual fixtures.

The format will be a key showcase in the conference’s $7 billion set of media rights deals [[link removed]] with CBS, Fox, and NBC.

More Big 12 Moves?

Realignment that has rocked college sports in recent years could be continuing as Big 12 executives reportedly [[link removed]] visited the University of Memphis to conduct “due diligence” toward potential conference expansion.

While Big 12 commissioner Brett Yormark denied [[link removed]] making the visit, Memphis has long desired to join a Power Five conference. Yormark also said earlier this month the conference has a “plan” for additional expansion after the July 1 arrivals of BYU, Cincinnati, Houston, and UCF, and also aims to become a national entity.

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Liverpool’s Anfield Road Stand Project Hits Major Milestone [[link removed]]

Liverpool

Liverpool has taken a major step in its Anfield Road Stand expansion project by removing the massive roof — weighing more than 600,000 pounds — from the 139-year-old stadium.

The Premier League club — the fourth-most valuable in the world at $5.2 billion, according [[link removed]] to Forbes — began efforts to expand Anfield’s capacity from 53,000 to 61,000 in 2021. The work will reportedly [[link removed]] cost $97 million.

Two huge cranes were built on the pitch to facilitate the roof’s removal, a process that required significant testing, given the weight of the cranes amounted to nearly four times the weight of the roof itself.

Fans in Liverpool can expect new upper-level seating when they are welcomed back to the venue this fall. The club anticipates construction to be completed before the start of the 2023-34 season.

The club recently released time-lapsed footage [[link removed]] of the project, giving fans an in-depth look at the lengthy efforts being made to modernize Anfield.

More seating should bring in more revenue for the club that finally turned a profit [[link removed]] this year after two straight years of financial losses.

Liverpool has recently been linked to a potential sale [[link removed]], but current owners Fenway Sports Group don’t appear totally set on moving on from the club.

Brooklyn Set to Get Professional Soccer Franchise as Popularity of Sport in U.S. Booms [[link removed]]

Syndication: The Knoxville News-Sentinel

Major League Soccer has been at the center of the soccer universe with Lionel Messi’s high-profile move [[link removed]] to Inter Miami. But Matt Rizzetta is a big believer in the lower-level United Soccer League — and he’s far from alone.

Rizzetta — who through his North Sixth Group owns [[link removed]] majority control of Campobasso FC and a minority stake Ascoli FC in Italy — and his partners will field an expansion franchise in USL League One, the third tier of American soccer, based in Brooklyn, New York.

The club, which will start playing in 2025, will seek to capitalize on the growing interest in soccer ahead of the 2026 FIFA World Cup, Brooklyn’s rise as a growing and distinct part of New York City, and USL’s development.

Financial terms were not disclosed. However, expansion fees for the USL Championship — the level just below MLS — are now $20 million, while those in USL League One have reached $5 million.

USL grew its attendance 34% last year, and the Brooklyn expansion will join six other new USL Championship franchises and three more in USL League One.

“USL has passed the test of time,” Rizzetta told Front Office Sports. “New leadership has also come in and worked really well with club owners, and we were impressed by that.”

Rizzetta has not disclosed where the new team will play. Two existing potential venues in Brooklyn provisionally approved by USL each will require upgrades. Other key elements, such as club name and brand will be unveiled this summer.

Conversation Starters On Monday night, the Denver Nuggets have a chance to win their first NBA title, but it won’t be a cheap ticket [[link removed]] at Ball Arena in Denver. Being a team mascot is more challenging than it appears. Just ask [[link removed]] Burnie, the Miami Heat’s mascot who ran into a left hook from Conor McGregor. For those golfers tired of retrieving their own balls, the RBC Canadian Open has unveiled [[link removed]] an innovative solution that does all of the work for you.

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Editor's Picks Answering the Burning Questions from Golf’s Shocking Merger [[link removed]]by A.J. Perez [[link removed]] and Doug Greenberg [[link removed]]

The PGA Tour, DP World Tour, and LIV Golf have merged.

The A’s Mess Should Make MLB Do Some Soul Searching, But It Won’t [[link removed]]by Owen Poindexter [[link removed]]

The A's mess has turned into a blight on MLB.

Ready For Their Closeup: Colleges Turning To Sports TV Executives [[link removed]]by Michael McCarthy [[link removed]]

Notre Dame is the latest school to poach from television.

Question Of The Day

Do you think the PGA x LIV merger is good for the future of golf?

Yes [[link removed]] No [[link removed]] I haven't been following [[link removed]]

Friday’s Answer

19% of respondents are an accredited investor.

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