Bill Foley paid $500 million for the Vegas Golden Knights to enter the NHL in 2017 and has since made the 2023 Stanley Cup winners one of the most successful franchises in professional hockey. 

But it’s soccer at the center of Foley’s quest to build a wide-reaching, multi-club ownership portfolio — which could soon include a third major soccer team.

Already holding majority control of Premier League club AFC Bournemouth and a minority stake in Ligue 1 side Lorient, Foley’s Black Knight Football and Entertainment group is now reportedly in advanced talks to secure a minority investment in Scottish Premiership team Hibernian, according to The Athletic. 

The Edinburgh-based Hibs, as they are known locally, are currently eighth in the 12-team Premiership after finishing fifth last year. 

More Down Under

Meanwhile, Foley also is the preferred bidder for an Auckland, New Zealand-based expansion team in the A-League — the top soccer league in Australia and New Zealand. If approved, the new team would begin play in the 2024-25 season, potentially giving Foley a fourth soccer team and fifth pro franchise altogether.

Forbes estimates Foley, who is chairman of Fidelity National Financial, to have a net worth of $1.6 billion. The American billionaire has previously said that investing in a South American team was also on his agenda.

More than four months after the conclusion of the historically grim 2023 Triple Crown season, horse racing has returned to a health-related crisis mode.

This weekend’s Breeders’ Cup — one of the sport’s most prestigious sets of races and also among its most lucrative, thanks to the $6 million Classic — has already been marred by the death of Practice Move following a Tuesday morning gallop in what has been suspected as a cardiac-related event. 

Soon after, Belmont Stakes winner Arcangelo dropped out of the featured Classic with a hind-foot issue. Kentucky Derby winner Mage had also been an expected entrant in the Classic but never made the trip to Santa Anita Park in California due to a spiking fever.

“He’s not fully resolving, and we’re running out of time,” Arcangelo trainer Jena Antonucci told TVG.

Ongoing Issues

While these issues don’t involve as many horses as during the spring’s debacle, they still represent an ugly coda to what has been one of the most difficult years in the sport’s history. 

Two horses died immediately following June’s Belmont Stakes, one horse was euthanized on the track at Maryland’s Pimlico Race Course, and 12 more died this spring at Kentucky’s Churchill Downs, leading to a month-long suspension of races there.

A definitive cause for the deaths was never found, and the ongoing equine health problems continue to draw the ire of animal advocacy groups.

“Either the fatalities end or racing must,” PETA said.

Tiger Woods’ new virtual golf league launches in January — but the competition will be tasked with drawing viewers without the complete presence of its legendary owner.

TGL, founded by Woods and Rory McIlroy, has unveiled more details of its competition format, which will see two teams go head-to-head each week during the two-hour broadcasts on ESPN or ESPN2. 

In total, 24 players will be spread across six four-man teams, but every match will only feature three players from each squad, to be determined in the days leading up to each broadcast. With a 15-match regular season, each team will play five times, leaving a number of broadcasts without the active participation of Woods and McIlroy — a potential drawback as the league vies for mainstream sports fans. 

TGL told Front Office Sports it is to be determined whether Woods or McIlroy will attend matches in which they’re not competing. There will be no minimum number of matches required for players, so it’s likely some will play more than others.

The league does feature other top golfers like Jon Rahm, Justin Thomas, and Rickie Fowler, but the roster doesn’t include LIV Golf players, as TGL has a partnership with the PGA Tour.

The momentum around TGL has been notable, with ownership and investor starpower, an ESPN media deal, and high-profile business pacts with Fanatics and SoFi. But its staying power will be put to the test as the league tries to keep fans interested on a weekly basis, especially without the regular participation of golf’s biggest names.

The influence of Las Vegas’ new $2.3 billion Sphere venue continues to pervade the business of sports.

Warner Bros. Discovery’s TNT Sports has completed a multiyear deal with California-based Cosm to create similarly immersive game broadcasts in what the experiential media company calls “shared reality.”

Select NBA and NHL games and U.S. national soccer team matches shown on TNT will also be aired live at immersive dome venues developed by Cosm. The first two locations — one in Los Angeles and another in Dallas — will open in 2024, each accommodating about 2,000 people between seats and standing areas, with more sites in development.

Featuring wraparound, 8K LED screens, the forthcoming Cosm locations are similar in approach to the Sphere, the next-generation venue led by New York Rangers and Knicks owner James Dolan that has quickly set the industry abuzz during an ongoing run of concerts by rock superstars U2. 

The Cosm-TNT Sports deal, however, is focused specifically on live sports, unlike the initial approach for the Sphere, with NBA and NHL playoff games forming a key part of the initial rollout.

Numerous other sports properties such as UFC, WWE, and several boxing promotions have either looked into using the Sphere itself or sought to incorporate similarly immersive elements into their events.

Advancing Technology

The TNT Sports-Cosm deal also looks to introduce immersive elements of virtual reality — which despite years of attempts by entities including the NBA and Meta has never fully reached mass popularity in sports — but without the isolation inherent to wearing a VR device. 

To that end, the experience at the TNT Sports-Cosm broadcasts is designed to create a feeling of actually being at the game location, but without any required headsets or glasses.