October 24, 2023
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Fans and pundits will always find something to complain about involving MLB, but what is now beyond debate is the league’s unrivaled competitive balance. With the Texas Rangers’ ALCS triumph over the Houston Astros, MLB is now assured of its 23rd consecutive season without a repeat World Series winner — easily the longest stretch in league history and better than any other major U.S. pro league. MLB will also get its sixth different champion in as many years and ninth different World Series winner in the last 10 seasons.
— Eric Fisher [[link removed]]
As NBA Expands Global Footprint, Rosters Have More International Players Than Ever [[link removed]]
Eric Hartline-USA TODAY Sports
The NBA’s on-court makeup is increasingly reflecting its expanding global footprint.
As the 2023-24 season tips off on Tuesday, the league said that opening-night rosters feature a record 125 international players spanning 40 countries and territories on six continents. At least 100 international players have filled opening-night rosters each of the last 10 seasons.
All 30 NBA teams have at least one foreign-born player, and the current player total tops the prior record of 121 seen in both the 2017-18 and 2021-22 seasons.
But not only is the NBA’s international talent pool growing in size, it also reflects much of the league’s top talent. Three international players — Philadelphia Joel Embiid, Denver’s Nikola Jokić, Milwaukee’s Giannis Antetokounmpo — have won the last five MVP awards and two of the last three NBA Finals MVP awards, while 15 current international players have been All-Stars.
Canada is the most represented non-U.S. country with 26 players, followed by France’s 14 — including San Antonio rookie phenom [[link removed]] Victor Wembanyama — and Australia’s nine.
Games Outside The U.S.
That expanding player base dovetails with expanding business activity for the league around the world, including broadcasting of its games in 214 countries and territories, recent preseason games staged in the United Arab Emirates, and planned regular-season games this season in Mexico and France.
Barca Financial Troubles Grow With Mounting Debt Concerns [[link removed]]
Kevin Jairaj-USA TODAY Sports
FC Barcelona’s financial troubles continue to pile up, despite its continued status as one of the most popular and winningest teams in European soccer.
At the club’s annual general meeting, the reigning La Liga champions announced a debt of $1.3 billion, not including financing costs for the ongoing renovation [[link removed]] of the Spotify Camp Nou stadium. Those latter costs haven’t been disclosed, but are likely to add [[link removed]] another $1.6 billion in debt. Barca also sustained an operating loss of $212 million for the 2022-23 season.
But Barcelona president Joan Laporta said the club was in an even worse state three years ago, and that the financial outlook has since improved with asset sales, including 25% of its television rights for the next 25 years to U.S.-based investor Sixth Street. Those sales allowed Barcelona to post a net profit of $322 million for last season.
“In any private company, they would have started with bankruptcy proceedings,” Laporta said [[link removed]]. “We made brave decisions, and we saved the club from tragedy.”
Still, Laporta was grilled at the recent annual meeting about the nearly $3 billion in club debt, while an approved budget for the 2023-24 season calling for less than $12 million in after-tax profit leaves little room for error.
Legal Concerns
Laporta also denied recent bribery and corruption charges [[link removed]] that he and other club officials will face in Spanish court amid a scandal [[link removed]] involving referee Jose Maria Enriquez Negreira.
“They will find nothing because there is nothing,” he said.
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Hitting the Bike Trail With Zaire Wade
[[link removed]]
Zaire Wade is mostly known as one of basketball’s most promising young players and the son of a basketball legend. But like many professional athletes – Zaire has his own passions off the court.
In our new series, My Other Passion, presented by Chevrolet, we hit the outdoors [[link removed]] with some of the most recognizable athletes in sports to explore their interests outside the arena.
Learn how biking helps Zaire Wade move forward, find peace off the court, and gain the mental freedom he needs to succeed in pursuit of his dream.
Watch episode three [[link removed]] now.
Athlete-Backed SPACs Take Another Hit As Kevin Durant’s Shuts Down [[link removed]]
Kiyoshi Mio-USA TODAY Sports
NBA superstar Kevin Durant is one of the most prolific and successful investors of any pro athlete, building a portfolio through his Thirty Five Ventures that includes stakes in MLS team Philadelphia Union, the Premier Lacrosse League, Athletes Unlimited, Major League Pickleball, the Boardroom media network, and dozens of other entities.
But even he isn’t immune to the downturn in special-purpose acquisition companies.
Infinite Acquisition Corp. — the SPAC Durant and his business manager Rich Kleiman formed in late 2021 — initially raised $276 million amid the initial fervor for blank-check companies. But unable to find an acquisition target within the standard, two-year window for SPACs, Durant and Kleiman will now liquidate [[link removed]] the operation and return the raised money to investors at a roughly 7.8% return.
The Durant-led SPAC had been seeking “technology-enabled platforms disrupting the traditional worlds of sports, health, wellness, food, commerce, and culture through their unique relationship with the consumer.”
In 2021, nearly 200 SPACs either sought a sports-related business or were led by an athlete, team owner, or other notable sports industry figure. Most of those have since shuttered, as less than 20% managed to find successful deals.
Another recent setback was digital entertainment and esports brand FaZe Clan, which is being purchased by the Jerry Jones-backed GameSquare in a deal [[link removed]] valuing the company at just $16 million — a mere fraction of the $725 million valuation [[link removed]] at the time of the original SPAC pact.
Still, the SPAC market has generated some notable sports-related successes, with DraftKings, Vivid Seats, and Genius Sports each becoming public companies.
Conversation Starters In 2021, the Texas Rangers lost 102 games, their worst record in nearly 50 years. That offseason, they spent [[link removed]] a record $561.2 million on free agents — and now, they’ll return to the World Series for the first time in 12 years. On Tuesday night, the NHL will launch [[link removed]] its own version of “NFL RedZone” — “Frozen Frenzy.” John Buccigross will host whiparound coverage on ESPN2 with all 32 teams in action. “Fans will see every goal, every power play, and every hit,” the network promises. On Monday night, the Las Vegas Strip was shut down [[link removed]] for the Aces’ WNBA championship parade — the city’s third title celebration in about a year. Editor's Picks Netflix Enlists LeBron, Peyton Manning For NBA Player-Focused Series [[link removed]]by Michael McCarthy [[link removed]]SpringHill Company and Omaha Productions could collaborate on a series modeled after Netflix’s “Quarterback.” The Fight to Guarantee NBA Broadcasts Amid Continuing RSN Uncertainty [[link removed]]by A.J. Perez [[link removed]]Utah Jazz and Phoenix Suns eschew the RSN model with a mix of over-the-air-streaming offerings. Big Markets, In-Season Tournament Powering NBA Ticket Sales [[link removed]]by Doug Greenberg [[link removed]]The Warriors and Lakers are the two most in-demand NBA teams for ticket sales. Careers in Sports
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