November 2, 2023

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To the victors go the spoils. As the Texas Rangers celebrate their first-ever World Series title, one fueled in part by massive free-agent spending, another big financial prize [[link removed]] awaits — the club is now weeks away from reaping what could be a record-setting postseason player pool.

— Eric Fisher [[link removed]]

ESPN Sale Could Be Worth $24B To Disney [[link removed]]

Troy Taormina-USA TODAY Sports

Even in an age of historic media disruption, cord-cutting, and declining profit, the estimated value of ESPN continues to rise.

Two weeks after a newly released set of financials for the sports media giant prompted [[link removed]] a $22 billion valuation for Disney’s sports business, an even higher figure has been tagged to ESPN.

A new research note from Bank of America Global Research said ESPN carries a value of $24 billion and will continue to attract potential investor interest from sports leagues [[link removed]], major technology companies including Apple, and telecommunications powers such as Verizon [[link removed]].

Many of those prospective suitors for an ESPN equity partnership have already been disclosed. But the latest research provides further support for ESPN’s ability to weather crises such as layoffs [[link removed]], industry-wide cord-cutting [[link removed]], carriage [[link removed]] battles, and a potential sale [[link removed]] of all of Disney’s linear properties.

Still, Bank of America conveyed some concern regarding ESPN.

“ESPN is still a strong business and a premier brand, but it sits at the nexus of possible major business transformation,” the company said. “Transitions have historically proven difficult and typically not conducive to significant growth.”

ESPN Bet Debut

ESPN has also set a definitive debut date of Nov. 14 for ESPN Bet, the new sportsbook it’s developing [[link removed]] with PENN Entertainment. The November timing has long been expected [[link removed]], and PENN Entertainment previously said the debut in the middle of the NFL season “is actually great … We’re going to be able to make a lot of noise, get a lot of attention.”

ESPN Bet will be active in time for Thanksgiving weekend, which in most years produces some of the NFL’s most-watched games of the regular season. The sportsbook will initially go live in 17 states, including key markets such as New Jersey and Pennsylvania.

“SportsCenter” anchor Scott Van Pelt will be a featured figure in a new promotional campaign for ESPN Bet.

Chiefs Owner: Arrowhead Plans Tied To Royals’ Stadium Decision [[link removed]]

Denny Medley-USA TODAY Sports

The Kansas City Chiefs have no plans to find a home outside of Arrowhead Stadium anytime soon — but efforts to continue modernizing the 51-year-old venue remain in a holding pattern until the Royals determine where they’ll build their new $2 billion ballpark.

Kansas City’s Truman Sports Complex houses both Arrowhead Stadium and the Royals’ Kauffman Stadium, but the MLB team is in all likelihood moving to a new location. The biggest factor for the Chiefs appears to be which county the Royals end up in — and the Royals missed [[link removed]] a self-imposed deadline this summer to select a single site.

“We’ve been in communication with the Royals, and we’ve been waiting for them to make a decision as to whether they’re going to stay in Jackson County or whether they’re going to go to Clay County,” Chiefs owner Clark Hunt said [[link removed]]. “Once they make that decision, that will help us with our process as we move forward.”

Remaining in Jackson County would mean further collaboration with the Chiefs on lease agreements, while moving to Clay County would leave the Chiefs to operate independently.

Hunt says the Chiefs would like to renovate Arrowhead to “extend its life” and would prefer another 25-year lease when the current one expires in 2031. The Royals would like to move into their new ballpark by 2028.

A Royals’ move could allow the Chiefs to build a variety of mixed-use developments next to Arrowhead.

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NHL Stake Sale Reportedly Fetches Highest-Ever Valuation At $2.5B [[link removed]]

Marc DesRosiers-USA TODAY Sports

Newly installed [[link removed]] Ottawa Senators owner Michael Andlauer hasn’t had a chance to put his full stamp on the franchise yet.

But he’s already setting records with his old one.

Andlauer, who officially took [[link removed]] the reins of the NHL club in late September, was forced to sell his 10% minority stake in the Montreal Canadiens to comply with league rules. Canadiens owner Geoff Molson and his family exercised a right of first refusal to buy that stake, doing so at a $2.5 billion team valuation that sets a new NHL record, according [[link removed]] to Sportico.

The figure more than doubles Andlauer’s own $950 million purchase of the Senators, which had been the highest price ever paid for an NHL team, at least on a standalone basis.

A stake in Toronto Maple Leafs parent Maple Leaf Sports & Entertainment sold [[link removed]] this summer at an $8 billion valuation, but that expansive company also owns the NBA’s Toronto Raptors, MLS’ Toronto FC, Scotiabank Arena, and numerous other assets.

In each of these instances, though, the valuations reflect a healthy and growing state for the NHL, one that includes a projected [[link removed]] attendance record for the 2023-24 season, further potential expansion, unprecedented revenue, long-term labor peace with the NHL Players Association, and lucrative media rights contracts with Disney [[link removed]] and WBD [[link removed]] collectively worth nearly $4.4 billion.

For the Canadiens, there are also several local factors driving up the valuation. The club is one of the NHL’s Original Six franchises and has won a league-record 23 Stanley Cups, though the last one was 30 years ago. Despite that drought, the Canadiens are also a consistent NHL leader in attendance, regularly packing the 21,000-seat Bell Centre.

Conversation Starters The Las Vegas Sphere paid a stunning tribute to the Rangers’ title win. Check it out [[link removed]]. Bruce Bochy managed [[link removed]] the San Francisco Giants to three World Series titles. With 1,052 wins and a path to the Hall of Fame, Bochy retired in 2019 — until the Texas Rangers called. In his first season, the 68-year-old led the Rangers to their first World Series title. Spartanburg, South Carolina, has broken ground [[link removed]] on its $75 million, state-of-the-art Fifth Third Field. The 3,500-seat ballpark set to open in 2025 will be part of a $500 million retail and housing project and home to the Rangers’ minor league affiliate.

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Women’s sports in the U.S. have never been as popular as they are today. At the college level in particular, there has been a tremendous increase in attendance and viewership for sports like volleyball, softball, and basketball.

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Editor's Picks A Two-Decade Endeavor Made the NFL a Year-Round Product [[link removed]]by Michael McCarthy [[link removed]]NFL Network celebrates its 20th anniversary on Nov. 4. Topgolf Callaway Brands Acquires Competitor BigShots Golf for $29M [[link removed]]by Doug Greenberg [[link removed]]Topgolf Callaway acquired the BigShots Golf brand and some of its locations. New York-New Jersey Is the Clear Choice For the 2026 FIFA World Cup Final [[link removed]]by Eric Adams [[link removed]] and Phil Murphy [[link removed]]NYC Mayor and New Jersey Governor make a pitch to host the championship match. Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Video [[link removed]] Podcast [[link removed]] Sports Careers [[link removed]] Written by Eric Fisher [[link removed]], David Rumsey [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[link removed]]

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