December 15, 2021

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After playing 2021 with an adjusted salary cap of $182.5 million — its lowest since 2018 — the NFL informed its 32 clubs that the 2022 cap will rise to $208.2 million. The $25.7 million raise is the maximum amount agreed upon by the league and NFLPA.

Congress Demands NFL Share Information on WFT Probe

Mark J. Rebilas-USA TODAY Sports

Members of Congress are calling [[link removed]] on the NFL to produce all documents and evidence related to Washington Football Team owner Dan Snyder’s alleged interference into an investigation of the team’s workplace culture.

On Tuesday, the Washington Post published [[link removed]] a lengthy report detailing Snyder’s attempts to obstruct the investigation led by attorney Beth Wilkinson.

The Post reported that Snyder sought to prevent Wilkinson from speaking with a former employee who reached a $1.6 million settlement over sexual misconduct allegations against Snyder himself in 2009. Snyder’s lawyers also attempted to learn the identities of people who had previously spoken to the paper.

Reps. Carolyn B. Maloney (D-N.Y.) and Raja Krishnamoorthi (D-Ill.) issued statements renewing their calls for information from the NFL on the investigation and Snyder’s alleged obstruction.

NFL Remains Tight-Lipped

Maloney and Krishnamoorthi have been leading the charge for more disclosure by the league.

In October, the two House members wrote a letter to NFL commissioner Roger Goodell, asking for all documents and communications related to the investigation. The NFL missed the Nov. 4 deadline set in the letter and has reportedly not produced any documents related to the investigation, citing time-intensive confidentiality issues.The NFL did not publish any report documents, letting Wilkinson give an oral report instead.

The league fined the team $10 million in July, stating that Snyder’s wife Tanya would run its day-to-day operations while he worked on stadium issues.

KKR Buys $396M Stake in PureGym

PureGym/Design: Alex Brooks

Private equity firm KKR & Co. has acquired a $396 million minority stake in PureGym, valuing the United Kingdom’s largest gym operator at more than $2 billion.

The deal will allow PureGym — which has more than 1 million members registered — to add more sites in its current markets and expand across Europe, Saudi Arabia, and the U.S.

KKR acquiring a stake in PureGym adds to a busy year for the firm’s sports and fitness portfolio.

In May, the firm cashed out most of its position in UFC parent company Endeavor, selling 18.2 million shares for a profit of $437 million.It is reportedly preparing an offer to purchase a stake of up to 20% — worth roughly $1.7 billion — in a new company that will hold media rights to Ligue 1.In September, the firm announced [[link removed]] it was selling its entire $852 million stake in sporting goods retailer Academy Sports. Last month, it submitted a takeover bid [[link removed]] for Telecom Italia, which holds broadcasting rights to Serie A. Ownership History

In 2017, PureGym was acquired [[link removed]] by private equity group Leonard Green & Partners in a deal that valued the business at $823 million.

Leonard Green & Partners bought its majority stake from CCMP Capital, a British buyout house, which acquired PureGym in 2013 from founder Peter Roberts for an undisclosed amount.

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Corporate Well-Being Platform Gympass Acquires Trainiac

Trainiac/Design: Alex Brooks

Trainiac is now Trainiac by Gympass. The latter announced its acquisition of the one-on-one fitness platform on Wednesday. Terms of the deal were not disclosed.

The news comes after Gympass’ $220 million funding round in June valuing [[link removed]] the company at $2.2 billion. At the time, Gympass said it had more than 750,000 training sessions booked for more than 50,000 users.

Trainiac, which had just three employees, raised a $2.2 million funding round [[link removed]] in January.

Gympass stated [[link removed]] the acquisition will “add a new level of personalization.” It also said Trainiac will help develop “sustained, long-term wellness habits.” Gympass Offerings

Gympass considers itself the world’s largest corporate well-being platform, with 1,300 on-demand classes, 2,000 hours of meditation, weekly 1:1 therapy sessions, and hundreds of personal trainers.

Trainiac by Gympass will roll out internationally over the course of 2022, starting with U.S. customers in the early part of the year. The U.S. corporate well-being market was estimated at $20.4 billion in 2021.

Conversation Starters In The Leadoff, Nike and Adidas target the $1 trillion metaverse, rising viewership is set to impact MLS’ new broadcasting deal, Google and Disney remain stiff on YouTube TV negotiations, and Chicago gets close to betting at pro stadiums. Click here to listen [[link removed]]. Peloton CEO John Foley said [[link removed]] that the connected fitness company is not halting development of new products next year. The news follows a report published by DigiTimes that caused the company’s shares to fall in early trading on Tuesday. NBA star Kevin Durant and his company Thirty Five Ventures have secured [[link removed]] a multiyear deal with Coinbase. The deal will see Durant promote the cryptocurrency platform and appear in advertising. Coinbase will also donate to Durant’s foundation for at-risk youth. One of the nation’s top high school recruits just changed the college football landscape [[link removed]]. On Wednesday, cornerback Travis Hunter — a consensus top-two overall recruit — decommitted from Florida State and will play for Jackson State under head coach Deion Sanders. Subscribe to Sports Section for more [[link removed]] on the unprecedented flip.

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Market Movers

U.S. stocks experienced gains across all three major indexes on Wednesday. Here’s a look at how sports-related stocks performed:

DAKT [[link removed]]

Daktronics Inc.

[[link removed]]

$5.08

[[link removed]]

+0.20%

[[link removed]] EA [[link removed]]

Electronic Arts, Inc.

[[link removed]]

$128.66

[[link removed]]

+0.96%

[[link removed]] CZR [[link removed]]

Caesars Entertainment Inc

[[link removed]]

$87.35

[[link removed]]

+1.57%

[[link removed]] CWH [[link removed]]

Camping World Holdings Inc

[[link removed]]

$39.12

[[link removed]]

+2.41%

[[link removed]] RCI [[link removed]]

Rogers Communications Inc.

[[link removed]]

$44.4

[[link removed]]

-0.74%

[[link removed]] LYV [[link removed]]

Live Nation Entertainment Inc

[[link removed]]

$106.22

[[link removed]]

-1.39%

[[link removed]] (Note: All as of market close on 12/15/21) Sponsored by Learn More [[link removed]] Listing of securities is not a recommendation to trade. Sponsored by Learn More [[link removed]] Listing of securities is not a recommendation to trade. What to Watch

The Los Angeles Lakers (15-13) face the Dallas Mavericks (14-13) tonight at American Airlines Center.

How to Watch: 7:30 p.m. ET on ESPN

Betting Odds: Lakers -1.5 || ML -120 || O/U 213.5*

Pick: Expect the Lakers to build on two consecutive wins. Take Los Angeles to cover.

Who ya got? Reply to this newsletter with your prediction for the Lakers-Mavericks winner and final score.

*Odds/lines subject to change. T&Cs apply. See draftkings.com/sportsbook [[link removed]] for details.

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Written by Owen Poindexter [[link removed]], Justin Byers [[link removed]], Abigail Gentrup [[link removed]]

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