March 9, 2022

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Former NHL and National Lacrosse League exec Jessica Berman was named commissioner of the National Women’s Soccer League on Wednesday. Berman’s four-year term will start on April 20.

Chelsea Bidders Below $4B Valuation As More Join Fray

Chelsea FC/Design: Alex Brooks

More high-profile bidders for Chelsea FC are emerging, but so far, none have reportedly met owner Roman Abramovich’s asking price.

The Russian-Israeli billionaire wants [[link removed]] $4 billion for the club, as he seeks to offload it before potentially facing sanctions related to Russia’s invasion of Ukraine.

Philadelphia 76ers managing owner Josh Harris is reportedly considering a bid. Harris, who also co-owns the New Jersey Devils and other sports properties, would presumably need to divest from his stake in Premier League club Crystal Palace to buy Chelsea.Having ties to another Premier League club also hasn’t stopped Jamie Reuben from considering a bid. The son of billionaire real estate investor David Reuben could tap his family wealth. Jamie’s brothers, Simon and David Reuben, own around 10% of Newcastle.

There are as many as 20 bidders considering [[link removed]] the iconic club, including several sports team owners.

Abramovich’s Asks

Abramovich said he will waive the $2 billion debt that Chelsea owes him. He is seeking an owner that will invest in the club and its venue, whether that be renovations to Stamford Bridge or a new stadium.

Abramovich, the former governor of Russia’s Chukotka region, has ties to Vladimir Putin. He participated in peace talks between Russia and Ukraine at Ukraine’s request and has said he will donate net proceeds from the sale of Chelsea to victims of the war.

U.K. Prime Minister Boris Johnson has faced pressure to impose sanctions on Abramovich.

Liga MX Issues Sanctions After Violent Riot

FMF/Design: Alex Brooks

Mexico’s Liga MX has issued sanctions in response to brutal attacks on March 5 at Corregidora Stadium among fans of Queretaro and Atlas.

The riot, which reportedly left more than 20 hospitalized, broke out during a match and spilled onto the field, ultimately suspending the match, as well as other Liga MX matches scheduled to take place that weekend. Liga MX will resume play on March 11.

Liga MX and its owners collectively crafted the sanctions.

Queretaro has been fined [[link removed]] $70,000 and will play home games with no fans for a year.Current management and owners of Queretaro are suspended for five years.Traveling fan groups have been banned, and a new fan ID system has been integrated.All those convicted in the riot will receive lifetime bans from Liga MX.

In response to the violence, a group of fans urged FIFA to consider removing Mexico as a co-host for the World Cup in 2026, comparing the situation to organizations leaving out Russian athletes in response to Russia’s invasion of Ukraine.

Trending Upward

Liga MX is the most-viewed [[link removed]] soccer league in the U.S., more than doubling the average viewership of MLS matches. For the 2021 season, Liga MX averaged 845,000 viewers on Univision compared to 355,000 MLS viewers on ESPN and FOX.

The popularity has led to growth for Liga MX and its teams. Last month, a trio of investors purchased [[link removed]] a 10% to 15% stake in Club Necaxa, valuing the franchise at $200 million.

SPONSORED BY BABBEL

Learn a New Language in 3 Weeks

What’s more fun than cheering on your favorite sports team through the TV? Cheering them on in another language!

Luckily, Babbel [[link removed]] has you covered.

Babbel is a premium, subscription-based language learning platform, available in 14 languages. Developed by over 150 linguists, Babbel is helping millions of people speak and understand a new language quickly and confidently.

Babbel’s app lessons allow you to tailor your learning [[link removed]]to topics that interest you. Mix it up with Words & Sentences exercises, or take one of the Special Courses, with topics ranging from sports, travel, and festivals, to tongue twisters, and more.

With Babbel, sports fans can cheer, grieve, and celebrate together. Get up to 60% off [[link removed]] your subscription and start learning today!

Alex Rodriguez, Marc Lore Invest in Athlete ‘Stock Market’ App

Brad Penner-USA TODAY Sports/Design: Alex Brooks

Alex Rodriguez and business partner Marc Lore are investing in Mojo, an app serving as a “stock market” for professional athletes through which fans can buy and sell players at values based on performance.

With the help of a $75 million funding round [[link removed]] led by Thrive Capital, Mojo is expected to debut with its first sport — football — by the end of the year. Tiger Global Management also participated in the round.

Rodriguez and Lore, who purchased [[link removed]] a 20% stake in the NBA’s Minnesota Timberwolves and the WNBA’s Minnesota Lynx for $1.5 billion last April, will not be involved in the day-to-day operations of the company.

The funding will be used for hiring engineers, data scientists, and market movers. Some of the funds will also be used for marketing.

Mojo CEO and co-founder Vinit Bharara said the company is still making arrangements with sports leagues, gaming commissions, and regulators.

Market Open

“I’ve always thought the idea of a sports stock market was the holy grail — the vision could transform sports, and fandom as a whole,” Lore said.

He previously worked with Bharara on a sports trading market called ThePit, but sold it to Topps for $5.7 million in 2001. Bharara highlighted that with new gaming laws and legalization, they “can do it the way it was supposed to be done.”

Conversation Starters In The Leadoff, Fenway Sports Group would like to add an NBA team to its roster, Disney targets younger fans with sports betting, Chelsea FC is attracting a growing number of bidders, and Virginia could allow limitless funding for the Washington Commanders’ new stadium. Click here to listen [[link removed]]. Deirdre Lester, Barstool’s former chief revenue officer, is the new CEO of Outsider. Lester will team with former Chicago Bears quarterback Jay Cutler to drive the business of the year-old company, which reaches more than 20 million monthly users. Click here for more [[link removed]] on the Front Office Sports exclusive. Activision Blizzard, Microsoft, and Epic Games are suspending [[link removed]] services in Russia due to the invasion of Ukraine. The trio joins Netflix, Electronic Arts, and CD Projekt Red as gaming companies boycotting Russia over its ongoing invasion. Kyrie Irving’s historic 50-point performance [[link removed]] on Tuesday couldn’t have come at a better time for the Brooklyn Nets — but his part-time status still might threaten a playoff berth. Brooklyn is 2.5 games from falling out of the play-in, and Irving is only eligible to play in five of the remaining 16. Subscribe to Scoreboard [[link removed]] for more on the Nets and their part-time superstar.

SPONSORED BY FIDELITY

Breaking Barriers and Giving Back

Jalen Rose gained his fame as the sixth-ranked high school basketball player in the country, taking his talents from the Southwest side of Detroit to his home-state University of Michigan, where he became a member of the legendary Fab Five.

Selected in the first round of the 1994 NBA Draft, Jalen played 13 seasons in the league, receiving All-Rookie honors in 1995. As a member of the Indiana Pacers, his team appeared in three straight Eastern Conference Finals, including a trip to the 2000 NBA Finals.

He may be retired from the game, but his career is far from complete.

In the first episode of our new Second Acts [[link removed]] series, presented by Fidelity [[link removed]], Jalen Rose discusses his media career, 10 years of the Jalen Rose Leadership Academy in his hometown city, and much more. Watch now [[link removed]].

Market Movers

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

TTWO [[link removed]]

Take-Two Interactive Software, Inc.

[[link removed]]

$158.24

[[link removed]]

+0.16%

[[link removed]] NKE [[link removed]]

Nike, Inc.

[[link removed]]

$126.97

[[link removed]]

+0.71%

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

Caesars Entertainment Inc

[[link removed]]

$77.37

[[link removed]]

+4.22%

[[link removed]] PLNT [[link removed]]

Planet Fitness Inc

[[link removed]]

$80.33

[[link removed]]

-0.21%

[[link removed]] GCO [[link removed]]

Genesco Inc.

[[link removed]]

$63.29

[[link removed]]

-2.39%

[[link removed]] SIRI [[link removed]]

Sirius XM Holdings Inc

[[link removed]]

$6.23

[[link removed]]

-3.56%

[[link removed]] (Note: All as of market close on 3/9/22) What to Watch

The Players Championship brings the best golfers in the world to TPC at Sawgrass.

Last year, Justin Thomas won the tournament by one stroke, taking home $2.7 million. Thomas faces an uphill battle to repeat as players vie for a $20 million purse in the four-day event beginning Thursday.

How to Watch: 6:45 a.m. ET on ESPN+ / Stream all of The Players Championship on PGA Tour Live on ESPN+ [[link removed]]*

*Sponsored content. Game Availabilities Differ By Market, Check Your Local Listing.

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

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