March 16, 2022

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Troy Aikman, the No. 1 pick in the 1989 NFL Draft, made $55.5 million in 12 seasons with the Dallas Cowboys. The three-time Super Bowl winner is reportedly signing a five-year, $90 million deal with ESPN to call NFL games.

Cubs Owner, Citadel CEO Among 200 Interested Chelsea Buyers

Chelsea FC/Design: Alex Brooks

Bidders for Chelsea FC have a deadline to submit their offers by Friday, and a number of media outlets have reported that as many as 200 parties are interested in the club.

The most recent consortium confirmed [[link removed]] to bid on the club valued [[link removed]] at $3.2 billion is led by Chicago Cubs owner Thomas Ricketts. The Ricketts family purchased the Cubs for $845 million in 2009, decades after Joe Ricketts founded financial services company TD Ameritrade.

Ken Griffin, the CEO and founder of Citadel Asset Management, is reportedly part of the group, too. Griffin is worth [[link removed]] more than $30 billion.

While only a small portion of bidders are labeled [[link removed]] as serious contenders for the club, a number of high-profile businesspeople have been reported [[link removed]] as interested.

Swiss billionaire Hansjörg Wyss, founder of medical-device manufacturer Synthes USA, is teaming up with Todd Boehly, part-owner of the Los Angeles Dodgers, Lakers, Sparks, and DraftKings.New York Jets owner Woody Johnson was “readying a bid,” according to ESPN.British property developer Nick Candy is expected [[link removed]] to bid $3.27 billion.Saudi Media Group reportedly [[link removed]] offered $3.5 billion. Chelsea’s Future

The sale is now in the hands of the U.K. government after it announced [[link removed]] sanctions against owner Roman Abramovich for his ties to Vladimir Putin. Abramovich wanted at least $3.9 billion.

The Raine Group, the U.S. bank overseeing the sale, expects the deal to be completed this month.

HSBC Enters Metaverse with ‘The Sandbox’

William Barton via Shutterstock/Design: John Regula

HSBC, an investment bank and financial services company, is acquiring a plot of land in “The Sandbox” metaverse as a way to connect with sports, esports, and gaming enthusiasts.

Created by metaverse-focused gaming and investment firm Animoca Brands, “The Sandbox” is a blockchain-based mobile game that allows users to create their own nonlinear gameplay.

Animoca Brands has investments in more than 150 NFT, metaverse, and blockchain companies.

It is the creator of the blockchain-based game “Olympic Games Jam: Beijing 2022.”The company has also invested in Fan Controlled Football and NBA Top Shot.

HSBC joins another banking giant in the metaverse. Last month, JPMorgan Chase & Co. opened a virtual lounge in Decentraland, a browser-based virtual 3D world platform.

London-based HSBC generated $12 billion in revenue in Q4 2021, a 2% increase year-over-year, thanks to its commercial banking business, which reported growth in credit and lending during the quarter.

The bank saw full-year revenue reach $49.6 billion, a 2% decline compared to FY2020, behind lower interest rates and a decline in revenue in its markets and securities services business.

Others Taking Notice

Private equity firm KKR & Co. is in talks to increase Animoca’s latest funding round from $359 million to $500 million at a $5.4 billion valuation. The round, announced in January, was led by Liberty City Capital Ventures and included investors George Soros and the Winklevoss twins.

To date, Hong Kong-based Animoca has raised roughly $700 million in total capital.

SPONSORED BY TICKETMASTER

Innovations in Ticketing to Meet the Modern Fan

Thanks to the continued advancement of social media and virtual technology, fans now expect and crave unique and immersive live event experiences. The ticketing industry extends beyond just ticketing to help enhance the live experience [[link removed]] for all fans.

Modern Ticket Essentials: Beyond the Ticket, our new six-lesson course [[link removed]] presented by Ticketmaster, is here to help those looking to learn more about how modern ticketing helps teams and event organizers enhance the live experience for their fans.

This free online course provides a behind-the-scenes look at how Ticketmaster and their partners are thinking about the future of ticketing [[link removed]] – from personalization and data strategies to NFTs, distribution partnerships, and more.

Sign up today to earn your verified digital badge. Get started [[link removed]]!

RumbleOn Reports $440.9M in Q4 Revenue

RumbleOn/Design: John Regula

RumbleOn, a marketplace for power sports, reported another successful quarter — even if growth slowed slightly from Q3.

The company posted $440.9 million in revenue for the fourth quarter — almost 47% growth compared with the same period last year. Net income reached about $20.7 million.

Shares increased on Wednesday from $29.52 at market open to $33.90 by the time the market closed.

During its third quarter, RumbleOn reported [[link removed]]$221.2 million in revenue, up 88.1% from the previous year — and notched $37.4 in gross profit.

Record Rumbling

RumbleOn’s annual earnings saw $1.59 billion in total revenue and net income of $45.5 million. CEO Marshall Chesrown called it “a record year for RumbleOn.”

Since the beginning of 2021, the company has acquired [[link removed]] RideNow, the world’s biggest powersports retailer, as well as Freedom Powersports. It opened a new fulfillment facility in Orlando, Florida, in October.

The Dallas-based company expects to earn between $1.9 billion and $2 billion in revenue in 2022, according to a shareholder letter.

Conversation Starters In The Leadoff, Formula 1 leverages its growing popularity while eyeing a third U.S. city, Manchester United mulls its options for Old Trafford, Washington, D.C.’s mayor declines to match Virginia’s bid for the Washington Commanders’ new stadium, and Vail Resorts posts a successful fiscal quarter. Click here to listen [[link removed]]. U.S. Customs and Border Protection has detained [[link removed]] merchandise made by Chinese sportswear company Li Ning Co. The action is the result of an investigation that indicated the company used North Korean labor to make some of its products. The Chicago Cubs have won the bidding war for Seiya Suzuki [[link removed]], who has all the tools to be MLB’s next international superstar. On Wednesday, the 27-year-old outfielder agreed to a five-year, $85 million deal with the Cubs, who will pay the Hiroshima Toyo Carp a $14.6 million posting fee, bringing their total commitment to just under $100 million. Subscribe to Scoreboard [[link removed]] for more on Suzuki and his new team. Ohio ranks No. 3 in Moody’s Housing and Affordability Index. So that dream you want isn’t really a dream in the Buckeye State — it’s a reality. Learn more [[link removed]].*

*Sponsored Content

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:

LYV [[link removed]]

Live Nation Entertainment Inc

[[link removed]]

$111.87

[[link removed]]

+0.25%

[[link removed]] VFC [[link removed]]

VF Corp.

[[link removed]]

$56.65

[[link removed]]

+0.71%

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

Nike, Inc.

[[link removed]]

$125.19

[[link removed]]

+2.07%

[[link removed]] MGM [[link removed]]

MGM Resorts International

[[link removed]]

$42.15

[[link removed]]

+2.33%

[[link removed]] T [[link removed]]

AT&T, Inc.

[[link removed]]

$23.21

[[link removed]]

-0.04%

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

Rogers Communications Inc.

[[link removed]]

$53.40

[[link removed]]

-0.19%

[[link removed]] (Note: All as of market close on 3/16/22) What to Watch

FC Barcelona faces Real Madrid at Estadio Santiago Bernabeu on Sunday for El Clasico.

Sunday marks the third matchup between the two clubs in the 2021-22 season. In October, Real Madrid escaped with a 2-1 win over Barcelona and added another win against its biggest rival in January with a 3-2 extra-time victory.

How to Watch: 4 p.m. ET on ESPN+ / Stream El Clasico on ESPN+ [[link removed]] *

*Sponsored content. Game availabilities differ by market. Check your local listing.

Written by Abigail Gentrup [[link removed]], Justin Byers [[link removed]], Amanda Christovich [[link removed]]

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