December 7, 2021
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As Lewis Hamilton races toward Sunday’s Formula 1 title-deciding season finale in Abu Dhabi, he’ll pocket $49.5 million from a Tribeca penthouse he never once lived in. The three-story condo has five bedrooms, six bathrooms, an elevator, library, and pool.
Peloton Rolls Out Boxing Classes
Peloton/Design: Alex Brooks
Peloton is now offering boxing classes as it looks to add some punch to its flagging sales.
The at-home fitness giant announced [[link removed]] the new offering on Tuesday, showing top instructors shadow boxing with no specialized devices or equipment. Peloton subscribers can access a two-week program called “Get Hooked” from the company’s app or connected devices.
The rollout comes on the heels of another product unveiling: The Peloton Guide is a device that connects to a TV and offers guided strength-training exercises with feedback provided by a camera and AI technology.
The $495 Guide was announced in November and will be available in 2022.
While the connected boxing market is perhaps less crowded than other at-home fitness segments [[link removed]], Peloton does not have the space to itself.
FightCamp has raised $97.5 million from investors including Connect Ventures, Y Combinator, and Mike Tyson.Liteboxer has raised $26 million from Nimble Ventures, Pitbull, and Timbaland, among others.
Peloton is also reportedly working on a connected rowing machine.
The company’s stock has declined over 70% since the start of the year after weathering controversies, a treadmill recall, and reporting tepid earnings [[link removed]] in its fiscal Q1 of 2022.
Expanding MLS Unveils 21 Clubs for New Pro League
Jay Biggerstaff-USA TODAY Sports/Design: Alex Brooks
Major League Soccer established MLS Next Pro back in June, and on Monday it announced the 21 clubs that will compete in its inaugural 2022 season.
The new professional league aims to bridge the gap between the pros and youth academy MLS Next, which held its second season this year with close to 600 teams.
The Next Pro players will reportedly [[link removed]] be paid unless they wish to retain college eligibility.
Twenty of MLS Next Pro’s 21 [[link removed]] teams are affiliated with MLS clubs. MLS teams brought [[link removed]] $1.1 billion in revenue during the 2019 season when it had 24 clubs. The league is set to have 29 teams by 2023, and a report [[link removed]] on Tuesday named Las Vegas as a front-runner for a 30th club by 2024 at the earliest.
The sole independent MLS Next Pro team, Rochester New York FC, is partially owned by Leicester City player Jamie Vardy.St. Louis City SC, an MLS expansion team slated [[link removed]] to join in 2023, will debut next year before its first-level club. The MLS team will open a $458 million stadium and surrounding area.Sporting Kansas City II, Seattle Sounders affiliate Tacoma Defiance, and Real Salt Lake affiliate Real Monarchs were the first teams announced in June.
Adidas will serve as Next Pro’s first [[link removed]] corporate sponsor. The company previously signed a reported [[link removed].] six-year, $700 million extension with MLS until 2024.
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Inter Milan Owner Has New Plan to Attract Investors
Inter Milan/Design: Alex Brooks
China-based Suning Holdings is looking to make a fresh attempt to attract new investors in Serie A’s Inter Milan, according to [[link removed]] Bloomberg.
The desire to inject fresh capital follows the Italian soccer club’s record [[link removed]] loss of $284.6 million in the fiscal year ending June 30, 2021, up from $118 million the year before. As a result, Inter delayed payments to its players despite winning its 19th Serie A title in May.
Inter’s total revenue reached $422 million, down from $444 million a year earlier, due to stadium closures and a decline in sponsorships caused by the pandemic.
In January, private equity firms EQT Partners, Arctos Sports Partners, and BC Partners expressed interest in the club.Talks stalled in March between BC Partners and Inter due to disagreements about the club’s valuation ( $743 million [[link removed]]) and the size of the stake on offer.
Suning owns a 68.5% stake in Inter, which it purchased for $306 million in 2016. The holding company joined a group of Chinese investors who spent [[link removed]] $1.8 billion between 2015 and 2017 acquiring stakes in more than a dozen European soccer clubs.
In May, Los Angeles-based Oaktree Capital agreed [[link removed]] to acquire a 31% stake in Inter from LionRock Capital in a deal valued at $336 million. Oaktree will also loan $310 million to the club.
Conversation Starters In The Leadoff, Discovery could snag BT Sport from DAZN, Roblox gets a head start on a potential $800 billion metaverse market, the UK could reap $5.3 billion in benefits from sports, and United Talent Agency raises $200 million for a SPAC. Click here to listen [[link removed]]. Campus Legends, a digital collectibles marketplace founded by Tim Tebow, is offering a live auction to own the first officially licensed [[link removed]] Heisman digital collectibles. The eight winning bids include two tickets to either the 2021 Heisman Trophy ceremony or 87th annual Heisman Dinner Gala in New York City. The Utah Olympic committee will be making the trip [[link removed]] to Beijing for the 2022 Winter Olympics despite a U.S. diplomatic boycott of the games in protest of Chinese human rights abuses. The committee is heading to China as part of its bidding process to bring the Olympics back to Utah. Download [[link removed]] our latest white paper to learn how to unlock the full potential of your fan data to make informed, data-driven decisions.*
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Market Movers
U.S. stocks experienced gains across all three major indexes on Tuesday for a second straight session. Here’s a look at how sports-related stocks performed:
LULU [[link removed]]
Lululemon Athletica inc.
[[link removed]]
$433.55
[[link removed]]
+0.75%
[[link removed]] GOLF [[link removed]]
Acushnet Holdings Corp
[[link removed]]
$55.94
[[link removed]]
+1.25%
[[link removed]] PENN [[link removed]]
Penn National Gaming, Inc.
[[link removed]]
$51.38
[[link removed]]
-1.89%
[[link removed]] ARMK [[link removed]]
Aramark
[[link removed]]
$35.12
[[link removed]]
-2.17%
[[link removed]] LVS [[link removed]]
Las Vegas Sands Corp
[[link removed]]
$37.06
[[link removed]]
-2.63%
[[link removed]] (Note: All as of market close on 12/7/21) What to Watch
The Boston Celtics (13-11) face the Los Angeles Lakers (12-12) tonight at Staples Center.
How to Watch: 10 p.m. ET on TNT
Betting Odds: Lakers -2.5 || ML -140 || O/U 219*
Pick: Expect the Lakers to rebound from Friday’s home loss. Take Los Angeles to cover.
Who ya got? Reply to this newsletter with your prediction for the Celtics-Lakers winner and final score.
*Odds/lines subject to change. T&Cs apply. See draftkings.com/sportsbook [[link removed]] for details.
Written by Owen Poindexter [[link removed]], Abigail Gentrup [[link removed]], Justin Byers [[link removed]]
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