October 12, 2023
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For more than a decade, the Los Angeles Dodgers have suffered the often cruel margin of winning in sports more than most. Mark Walter’s ownership group has turned the Dodgers into a model organization since their 2012 acquisition, winning more than 1,100 regular-season games and 10 division titles, hosting an All-Star Game, and breathing new life into venerable Dodger Stadium.
But after being swept by Arizona in the NLDS, the ownership group still has only a single title in the pandemic-shortened 2020 season to claim for all that success. Look for the franchise to make bold moves in response.
— Eric Fisher [[link removed]]
Walton Transfers Broncos Controlling Ownership. What Does it Mean? [[link removed]]
Ron Chenoy-USA TODAY Sports
Two of the NFL’s most popular franchises are looking at extended transition periods thanks to senior leadership changes.
The Denver Broncos have shifted controlling ownership of the team from Walmart heir Rob Walton — who led last year’s then-record $4.65 billion purchase of the team — to son-in-law and CEO Greg Penner. The shift brings the ownership structure more in line with its day-to-day management, as Penner has been leading franchise operations.
NFL bylaws require that each team have a designated controlling owner, with that person owning at least 30%. In giving Penner that designation, some of Walton’s shares have been transferred to Penner’s four children.
The Broncos’ new era is off to a rocky start on the field. The team finished 5-12 last year, a sixth-straight losing season, and are 1-4 this year. The Broncos face another difficult matchup Thursday night against Kansas City, which has defeated Denver in 15 straight games dating to 2015.
Buffalo Turmoil
Buffalo Bills owner Terry Pegula has fired both COO John Roth and Kathryn D’Angelo, the team’s senior vice president of business operations. Roth and D’Angelo were reportedly [[link removed]] in a romantic relationship, creating an ethics issue, as Roth was D’Angelo’s superior in leading the business operations of both the Bills and NHL’s Buffalo Sabres.
Roth had taken that role less than two months ago when Pegula restructured [[link removed]] both the Bills and Sabres following July’s firing of Ron Raccuia, who previously oversaw both franchises on a day-to-day basis. Unlike the Broncos, the Bills are considered a Super Bowl contender.
Both the Bills and Sabres are in the midst of significant facility transitions. The Bills are building [[link removed]] a new stadium in Orchard Park, New York that will cost at least $1.7 billion.
The Sabres are in the initial stages of planning a large-scale upgrade to their home arena, KeyBank Center. The 27-year-old, publicly owned venue in downtown Buffalo hasn’t undergone any major renovations since opening and will require several years to complete them during Sabres offseasons.
Suns Could Be Latest NBA Team Selling Minority Stake [[link removed]]
Mark J. Rebilas-USA TODAY Sports
With a new season tipping off in less than two weeks, NBA franchises are as hot a commodity as ever — the latest being the Phoenix Suns.
Mat Ishbia — who led the recent $4 billion purchase [[link removed]] of the Suns and the WNBA’s Mercury — could be bringing on new minority investors
The first-year owner has fielded interest from U.S. and international investors, according to Bloomberg [[link removed]]. It’s possible the team stakes could already be more valuable than $4 billion.
Already this year, the Washington Wizards saw new investment from the Qatar Investment Authority, which paid about $200 million to purchase [[link removed]] about a 5% stake in the team’s parent company, Monumental Sports & Entertainment.
Micahel Jordan sold his majority stake in the Charlotte Hornets as part of a deal that valued [[link removed]] the team at $3 billion and brought on new limited partners like rapper J. Cole, country music star Eric Church, and sports-focused private equity firm Dyal HomeCourt Partners.
A 10% minority stake in the Golden State Warriors is reportedly up for sale [[link removed]] at a price tag of $700 million, valuing the team at $7 billion.
Heating Up
It’s been a busy year for Ishbia, who’s making his mark in Phoenix.
The Suns and Mercury partnered [[link removed]] with Gray Television after the bankrupt Diamond Sports Group didn’t make an offer to continue broadcasting games on Bally Sports Arizona.
Meanwhile, Ishbia’s ownership group is spending over $100 million to build [[link removed]] a new business headquarters and practice facility for the two teams.
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Endeavor Confirms PGA Tour Investment Bid [[link removed]]
Adam Hagy-USA TODAY Sports
Where there’s smoke, there’s usually fire — and the world of pro golf now has some confirmation.
In recent weeks, reports have surfaced about new investors showing interest in partnering with the PGA Tour, which earlier this year signed a framework agreement with Saudi Arabia’s Public Investment Fund to pump billions of dollars into professional golf.
One of the companies mentioned was Endeavor, whose CEO Ari Emanuel publicly confirmed [[link removed]] that an official bid was submitted on Oct. 5. However, he wouldn’t detail how much money is involved, what size stake of the new PGA Tour Enterprises commercial entity Endeavor’s seeking to acquire, or whether its bid would add to or replace the PIF deal.
But Emanuel did say he thought that there were seven other bidders in the process. Fenway Sports Group and Arctos Sports Partners have been reported [[link removed]] as other interested investors — which means at least five other investment entities are trying to partner with the PGA Tour.
“I think we could add to it what we’ve added to all of our sports,” Emanuel said.
Endeavor — a publicly traded company with a market cap of $9.35 billion — just merged its UFC promotion with WWE to form TKO Group Holdings, which is valued [[link removed]] at $21 billion. Its stock price currently sits at just under $20, which is close to an all-time low since its IPO in 2021.
The company also owns the Professional Bull Riders traveling competition.
NHL rookie phenom Connor Bedard is already making history.
The No. 1 overall draft pick drew 1.43 million viewers [[link removed]] in his Chicago Blackhawks debut — the most ever for an NHL regular-season game on cable, excluding the Winter Classic.
Bedard, 18, went on to score the first goal of his NHL career the following night.
Editor's Picks NHL Faces Criticism for Email Reveal of Controversial Theme Night Policy [[link removed]]by A.J. Perez [[link removed]]The NHL’s theme night rule changes are going to impact several causes. Sharpe’s Impact Propels ‘First Take’ to Soaring Viewership in Just Six Weeks [[link removed]]by Michael McCarthy [[link removed]]Monday's "First Take" edition had 852,000 viewers compared with Fox's "Undisputed," which had only 172,000. Shaq Returns to Reebok as President of Basketball Division [[link removed]]by A.J. Perez [[link removed]]Allen Iverson takes over as VP of Reebok Basketball. Get in on the Action
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