On MLB’s self-imposed deadline day, the two sides negotiated from the morning until the wee hours of the next day, making real progress after months of stalemate. A new deadline was reportedly set for 5 p.m. ET Tuesday.

Early in the day, the league reportedly told players association representatives that it is willing to cancel a month’s worth of games.

The two sides are working to bridge gaps on major economic issues, including: 

• Minimum player salaries
• How many players are eligible for arbitration
• The size of a new bonus pool for pre-arbitration players
• How many teams would be included in a new draft lottery designed to discourage tanking
• The threshold for crossing the “competitive balance tax” line for player payrolls

They did appear to agree on a 12-team postseason – up from 10 last season – and penalties for crossing the competitive balance threshold, which will be similar to last season’s.

Spring Draining

The two sides have been meeting daily in Florida, with commissioner Rob Manfred recently joining the talks.

The MLBPA floated the possibility of walking away from talks after making significant concessions on Saturday, only to have owners once again reject their offer. 

MLB moved toward the players on Monday on several issues including the competitive balance tax and the bonus pool. The league had made only small, incremental concessions prior to Sunday.

The league may still allow for a full, 162-game regular season if the two sides can reach a deal in the coming days.

Any deal will have to be approved by 23 of the 30 owners.

Over the past several months, iFIT — the maker of NordicTrack — has suffered a string of financial blows.

Following a capital raise, the company’s valuation dropped about 60% — meaning iFIT is now worth less than $3 billion, according to Bloomberg. 

• The fitness company received $355 million in equity and debt. 
• Investor L Catterton led the round. 

But despite recent setbacks, its ailing balance sheet might be on the road to recovery.

The capital raise will reportedly keep the company from an even more severe round of layoffs than the restructuring plan announced last week — which also included CEO Scott Watterson stepping away, remaining only as board chairman. 

Bouncing Back

In October 2020, iFIT was worth about $7 billion. The company’s luck arguably began to sour when its IPO — which could have brought in well over a half-billion dollars — was postponed in October 2021.

In January, the company was reportedly almost sunk by a lawsuit filed by one of its own lenders. The lawsuit has been resolved “amicably,” Bloomberg reported. 

Now, revenue for the fiscal year could rebound and generate about $1.7 billion, close to the same amount as last year, per Bloomberg.

The Washington Commanders are reportedly considering three Virginia locations for their proposed domed stadium and surrounding entertainment district.

In mid-February, both houses of the Virginia General Assembly passed separate bills that put the team one step closer to building a stadium in the state. If legalized, the combined bill would create a football stadium authority to oversee the potential project.

Now, the team is looking at one location in Loudoun County and two in Prince William County — one in Woodbridge and one in Dumfries. All three are no less than 27 miles from the Capitol, but the list of developments clarifies why so much space is needed.

• 700,000-square-foot stadium
• New training facility
• Three outdoor fields
• 92,000-square-foot indoor field
• Team offices and parking

State Senate Majority Leader Richard L. Saslaw (D) described the project as a “mini-city.” According to the planning documents for all three locations, a resort, conference center, amphitheater, cinema, nightclub, and family-friendly venue are all slated. Dumfries’ plan includes a marina attached to the resort.

Saslaw noted that the team would have to invest roughly $2 billion for the surrounding development. The Commanders’ contract at FedEx Field ends in 2027.

Commanders’ Commute

The Loudoun County site is in Sterling, the only proposed location accessible to the Metro. Some lawmakers have reportedly discussed expanding the mode of public transportation. The other two locations would still need approval from the Prince William Board of County Supervisors.

The Cleveland Cavaliers are the latest professional sports team to strike a deal to bring a sportsbook to its home venue.

Caesars Entertainment announced a multiyear deal with the team that includes plans to open a sportsbook in Rocket Mortgage FieldHouse. Both entities will cover the build-out’s costs as part of the deal. Forbes valued the Cavaliers at $1.65 billion in October.

Caesars Sportsbook isn’t new to professional sports arenas.

• It hosted the first sportsbook in a professional team’s venue when it opened a William Hill Sportsbook at Capital One Arena — home of the Washington Wizards, Capitals, and Georgetown Hoyas — in May.
• In Arizona, Chase Field — home of the Arizona Diamondbacks — is in the process of getting a Caesars Sportsbook, too.

Sports betting is already legal in Ohio, but no online operators have been approved. The target date to officially launch in the state is reportedly Jan. 1, 2023, with hopes to start sooner, and on April 1, the state will be allowed to begin issuing sports betting licenses.

Construction of the betting site is expected to begin shortly, and the 10,355-square-foot venue is anticipated to open by the end of the year, subject to approvals.

More Sportsbooks and Stadiums

United Center, home to the Chicago Bulls and Blackhawks, announced plans for a FanDuel Sportsbook lounge in January. FanDuel opened a sportsbook inside the Footprint Center, home to the Phoenix Suns and Mercury, in September.

In January, the Arizona Cardinals released details for a BetMGM Sportsbook slated to open ahead of the 2022 season. The company also opened a sportsbook at Nationals Park that same month.