April 19, 2022

Read in Browser [[link removed]]

POWERED BY

Major League Baseball jerseys may never look the same again. The San Diego Padres and Motorola have agreed to the league’s first jersey patch deal. The Padres will begin wearing the Motorola logo in 2023.

Carolina Panthers ‘Terminate’ $800M Rock Hill Project

Carolina Panthers

The Carolina Panthers announced on Tuesday that they notified a South Carolina city slated to be the home for the NFL team’s new $800 million headquarters that they would “formally terminate the previous agreements.”

Construction in Rock Hill was put on hold [[link removed]] last month after the city missed another payment toward the $225 million of promised infrastructure costs of the development.

The Panthers released a statement noting it was “unfortunate that some recently decided to conduct a misguided, destructive public relations campaign to obscure their failures.” Rock Hill Mayor John Gettys said the city “did everything to make this project a success and has not defaulted on any of our obligations.”

Can It Be Salvaged?

Tuesday’s statements from the Panthers and Rock Hill also hinted at further negotiations.

The Panthers said they “are prepared to sit down with the city and other interested parties to discuss the significant challenges ahead.” A Rock Hill spokesperson said that city officials “are encouraged the Panthers may now be willing to meet and look forward to resolving any and all outstanding issues.”Panthers owner David Tepper’s real estate holding company had already invested more than $170 million into the project.

The sticking point remains Rock Hill’s reluctance to issue bonds that would cover the infrastructure costs. In the agreement provided to Front Office Sports, the city is required to use its “reasonable best efforts to issue bonds.”

Sandbox Reportedly Eyes $400M Raise at $4B Valuation

The Sandbox

The game, platform, and metaverse known as The Sandbox is considering raising roughly $400 million in fresh capital, which would value the platform at more than $4 billion, according to a Bloomberg report.

Owned by software and venture firm Animoca Brands, The Sandbox is looking to raise [[link removed]] the capital from new and existing investors with plans to use the funds to expand its workforce and make acquisitions. No details have been finalized, and the size of the round could depend on how the opportunity is received by potential investors.

The desire to secure fresh capital follows The Sandbox raising [[link removed]] $93 million in a Series B funding round last November. It was led by SoftBank’s Vision Fund 2 — its first investment in crypto assets — and included Liberty City Ventures, Samsung Next, and other investors.

The Sandbox has 2.2 million registered users as of April 4.Since January, the platform has partnered with Ubisoft and Warner Music Group.

Animoca Brands acquired [[link removed]] mobile game studio Pixowl, the developer of “The Sandbox” game in 2018 for $4.9 million. In January, Animoca Brands raised [[link removed]] $360 million, valuing the firm at $5.4 billion. To date, the Hong Kong-based company has raised roughly $700 million in total [[link removed]] capital.

Banking on the Metaverse

In March, investment bank and financial services company HSBC announced it is acquiring [[link removed]] a plot of land in The Sandbox metaverse as a way to connect with sports and gaming enthusiasts.

In February, another banking giant — JPMorgan Chase & Co. — opened a virtual lounge in Decentraland, a browser-based virtual 3D world platform.

SPONSORED BY STARTENGINE

Invest in Michael Jordan: Rookie Card

StartEngine [[link removed]] Collectibles brings you an opportunity to diversify your portfolio with Michael Jordan’s Fleer Rookie Card.

Did you know that according to Axios, sports cards have outperformed the PWCC 500 index, which is essentially the S&P 500 for trading cards, for the last 12 years?*

Today, you can easily invest in the trading card industry, starting with Michael Jordan: Rookie Card. Learn more [[link removed]] on StartEngine today.

This Reg A+ offering is made available through StartEngine Collectibles Fund I, LLC. No broker-dealer or other intermediary is involved in this offering. StartEngine Collectibles Fund I, LLC is not currently accepting investments from WA, NJ, FL and TX. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. Please see the Offering Circular [[link removed]]and Related Risks [[link removed]]for more information.

*Please note that these are historical returns for the sports card market as a whole, based on research conducted by PWCC, and do not reflect the value of, or potential returns on this individual collectible.

Five Groups Submit Non-Binding Bids for Denver Broncos

Isaiah J. Downing-USA TODAY Sports

The Denver Broncos have received five non-binding bids to purchase the team, including bids from two who are already facing off in another high-profile team sale.

The bidders include [[link removed]] Los Angeles Dodgers, Lakers, and Sparks co-owner Todd Boehly and Philadelphia 76ers, New Jersey Devils, and Crystal Palace co-owner Josh Harris, according to Sportico. Boehly and Harris are part of two of the three finalist groups to buy Chelsea FC.

However, neither can match the financial heft of the other known bidder, Rob Walton, who is worth $70.4 billion, per Forbes.

The other two bidders are currently unknown. Entertainment Studios founder, chair, and CEO Byron Allen was interested in buying the team, per reports from February.The NFL was reportedly courting Vista Equity Partners chair Robert F. Smith earlier in the process. Smith or Allen would be the NFL’s first Black owner, should either purchase the team.

The sale is being managed by Allen & Co., which hopes to have the team in new hands by the start of the next season. The final price is expected to top $4 billion.

How Now, Broncos DAO?

A decentralized autonomous organization (DAO) called BuyTheBroncos is raising money to purchase a stake in the team using a cooperative model.

On Tuesday, BuyTheBroncos announced [[link removed]] its technology partner, XDAO, which “acts as both the platform to attract approximately $4 billion needed to purchase the team, and as a marketing mechanism, having attracted over $300 million in assets under management since its launch in November.”

Conversation Starters In The Leadoff, the last three Chelsea bidders are strengthening their bids with new partners, Apple may already have an “NFL Sunday Ticket” deal, the Washington Commanders respond to allegations, and a deal for AC Milan could hinge on a $733 million stadium project. Click here to listen [[link removed]]. Attorneys for the Miami Dolphins voiced their disapproval [[link removed]] of Miami Gardens residents attempting to halt Formula 1’s Miami Grand Prix next month. The event is scheduled at Hard Rock Stadium on the weekend of May 6. Athleta and Simone Biles are launching [[link removed]] the four-time Olympic gold medalist’s first signature collection of activewear to celebrate the first year of their partnership. The Athleta Girl collection is designed for girls ages 6-12. The Cleveland Browns have officially joined the ranks of the NFL’s big spenders. On Monday, the Browns signed CB Denzel Ward to a five-year, $100.5 million extension [[link removed]], per multiple reports — making him the highest-paid cornerback in league history by total value. Subscribe to Scoreboard [[link removed]] for more on Ward and his $71.3 million in guaranteed money.

SPONSORED BY PARAMOUNT+

The World’s Game Lives on Paramount+

Stream 2,000+ soccer matches from the biggest leagues in the world, live on Paramount+ [[link removed]]. Superstars from the men’s and women’s game take to the pitch in the UEFA Champions League, Italy’s Serie A, the National Women’s Soccer League and more!

The Coppa Italia semifinals [[link removed]] continue today and tomorrow with two thrilling matchups. Bitter rivals Inter Milan and AC Milan battle it out for the fourth time this season today at 3 p.m. ET. Then on Wednesday, Dušan Vlahović leads Juventus against his former side Fiorentina at 3 p.m. ET looking for a coveted spot in the final of Italy’s cup competition.

Stream both semifinal matches live on Paramount+. Try it free [[link removed]]!

Market Movers

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

ATVI [[link removed]]

Activision Blizzard Inc

[[link removed]]

$79.02

[[link removed]]

+0.02%

[[link removed]] BATRK [[link removed]]

Liberty Media Corp.

[[link removed]]

$26.55

[[link removed]]

+0.08%

[[link removed]] ARMK [[link removed]]

Aramark

[[link removed]]

$37.25

[[link removed]]

+0.78%

[[link removed]] MTN [[link removed]]

Vail Resorts Inc.

[[link removed]]

$264.07

[[link removed]]

+1.36%

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

Sirius XM Holdings Inc

[[link removed]]

$6.39

[[link removed]]

+1.99%

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

VF Corp.

[[link removed]]

$57.20

[[link removed]]

+2.21%

[[link removed]] (Note: All as of market close on 4/19/22) What to Watch

The Atlanta Hawks (43-39) face the Miami Heat (53-29) on Tuesday at FTX Arena.

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

Betting Odds: Heat -7.5 || ML -320 || O/U 219

Pick: Expect the Hawks to bounce back from Sunday’s loss. Take Atlanta to cover.

Refer Friends to Score Your Favorite Team’s Jersey

SPONSORED BY

Front Office Sports is celebrating that Paramount+ is home to world-class soccer matches from around the globe by giving away three authentic official jerseys.

How can you score one? Refer your friends and colleagues to Front Office Sports. Copy and paste your unique link below and share it in an email or on your timeline.

*NO PURCHASE NECESSARY. Enter between March 21, 2022 @ 12:01 a.m. ET – April 30, 2022 at 11:59 p.m. ET. Open to US residents age 18+ only. 1 entry per person. Void where prohibited. See Official Rules [[link removed]] for details.

Your custom referral link:

[link removed] [[link removed]]

Or use these one-tap sharing methods:

Email [mailto:?subject=Check%20out%20the%20Front%20Office%20Sports%20daily%20newsletter!&body=This%20newsletter%20from%20Front%20Office%20Sports%20summarizes%20the%20four%20biggest%20stories%20in%20the%20sports%20business%20world%20every%20weekday...all%20in%20five%20minutes%20or%20less.+https%3A%2F%2Fsparklp.co%2F0d56433a%2F%3Futm_source%3Demail] Twitter [[link removed]] Facebook [[link removed]]

Your referral count: 0

Written by A.J. Perez [[link removed]], Owen Poindexter [[link removed]], Justin Byers [[link removed]]

MORE FROM FRONT OFFICE SPORTS:

The Leadoff [[link removed]] - Daily business of sports podcast

Front Office Sports Pro [[link removed]] - The most promising opportunities where sports meets industry

Front Office Sports Scoreboard [[link removed]] - The biggest stories in sports and the numbers behind them

Copyright © 2022 Front Office Sports. All rights reserved.

80 Pine Street Suite 3202 New York, NY 10005

If this email was forwarded to you, you can subscribe here [[link removed]].

Advertise [[link removed]] / Update your preferences [link removed] / Unsubscribe [link removed]