April 26, 2022

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Lane Kiffin is pulling out all the stops when it comes to recruiting. The Ole Miss football coach recently picked up [[link removed]] top QB prospect Jaden Rashada in a Rolls Royce. Kiffin, acting as chauffeur, said he had only one request before dropping the prospect off: “You gotta transfer to the Sip.” Rashada responded, “Say less.”

Chelsea FC Bidders Required to Guarantee Decade-Long Ownership

Chelsea FC

Raine Group is expected to reveal its preferred bidder for Chelsea FC this week. The U.S. bank in charge of the sale has also reportedly asked each bidder to guarantee their ownership until 2032, according to Sky News.

The bank denied [[link removed]] reports of any selection delay or additional stages for the process. While it reportedly [[link removed]] considered narrowing down the bidders list from three to two, it has decided not to rule out any group and will go forward picking from the three bidders.

Some outlets recently reported that Steve Pagliuca’s group would be eliminated from the running this week.A source close to Pagliuca denied [[link removed]] the claims.

Pagliuca, co-owner of the Boston Celtics and Atalanta, is competing with two other bidders — a consortium led by Los Angeles Dodgers, Lakers, and Sparks part-owner Todd Boehly, and a group led by deputy chairman of International Airlines Group Sir Martin Broughton.

The latter pulled in Serena Williams and Lewis Hamilton last week to back [[link removed]] its bid.

Chelsea’s Debt

Current Chelsea FC owner Roman Abramovich was sanctioned earlier this year due to his ties to Vladimir Putin and will not profit from the sale. The club cannot buy new players, sell new tickets, or agree to new contracts since it is operating [[link removed]] under a special license until it has new owners.

The U.K. government’s Department for Digital, Culture, Media & Sport will license the sale of the club and is reportedly [[link removed]] expected to agree to a deal with Abramovich in which the team’s roughly $1.9 billion debt will be written off and put into equity.

Inter Miami Playing Defense as Stadium Vote Looms

Inter Miami

Inter Miami CF is taking its case for a new stadium to the public, revealing the project’s key financials in the process.

Responding to a provocative social media campaign [[link removed]] opposing the project, the MLS team, owned by David Beckham and Jorge Mas, outlined [[link removed]] key details of Miami Freedom Park, a dedicated soccer stadium and surrounding development.

In addition to the 25,000-seat stadium, the project calls for 750 hotel rooms, commercial and office space, community fields, and Miami’s largest public park.

According to the team, Miami Freedom Park is expected to be entirely privately funded and would:

Provide $6.3 billion in tax revenue for Miami over the life of the 99-year lease.Contribute $2.6 billion in rent.Generate $11 billion in economic activity in its first 30 years.Contribute $25 million to the city’s Parks Department.Directly and indirectly create over 15,000 jobs paying at least $15 per hour. Marlin Warning

The video opposing the project compares it to the Miami Marlins’ LoanDepot Park, which secured [[link removed]] $488 million in public funding, and is narrated with self-conscious irony by former Miami team president David Samson.

Miami and Miami-Dade County will pay a total of $2.6 billion by 2049, factoring in bond interest.

The video also claims that the land will be rented out below market rate. Miami mayor Francis Suarez countered [[link removed]] that the city will reappraise the land before agreeing to the deal.

A city commission will vote on the project on Thursday.

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‘Assassin’s Creed’ Maker Being Eyed As Takeover Target

Ubisoft

Ubisoft has reportedly been drawing buyout interest from several private equity firms, according to Bloomberg.

The France-based video game publisher has attracted [[link removed]] private equity firms Blackstone and KKR & Co., which have been studying Ubisoft’s viability as an investment.

Despite the interest, no deal is imminent or has been approved by Ubisoft’s largest shareholder, the family of Ubisoft chairman Yves Guillemot. The Guillemot family holds a 15% stake in the company.

JP Morgan Chase & Co., Brokerage and Securities Investments is the company’s second-largest shareholder with 14% of shares [[link removed]] outstanding as of Feb. 7.

Ubisoft has a current market value of roughly $5.2 billion.Shares of the company have dipped around 41% over the past year.

KKR’s takeover exploration adds to its growing interest in gaming. The firm is in talks [[link removed]] to increase metaverse-focused gaming and investment firm Animoca Brands’ 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. KKR has also invested in Epic Games.

Tough Stretch

Ubisoft has been hit by waves of resignations [[link removed]] for nearly two years due to low wages, the company’s handling of a workplace misconduct scandal in 2020, and frustration with its creative direction. The “Assassin’s Creed” publisher has also delayed [[link removed]] several upcoming titles.

The company posted [[link removed]] net bookings of $800 million in fiscal Q3 2022, a 26% decrease year-over-year, but reached its target of between $776 million and $835 million.

Settlement Reached in Dispute Over $320M Angel Stadium Sale

Jayne Kamin-Oncea-USA TODAY Sports

After three years, the controversial $320 million sale of Angel Stadium in Anaheim, California, is finally close to officially moving forward.

The California Department of Housing and Community Development and the city of Anaheim have reached [[link removed]] a $96 million settlement. The city agreed to sell the 150-acre stadium site to a company owned by Angels owner Arte Moreno.

The agency had previously said the deal violated a California law.The law requires affordable housing developers to have the opportunity to buy the public lands first.The deal must be officially approved by the City Council and a local court.

The settlement comes about a month after a local court ruled [[link removed]] in favor of the city in a lawsuit brought by the People’s Homeless Task Force.

The suit alleged the city didn’t give enough opportunity for public input requirements.

Development Plan

Now, Moreno’s company can go ahead with a plan that includes building a “mini city” with hotels, restaurants, and stores around the stadium — as well as a park and affordable housing.

The deal also means that the Angels will stay in Anaheim until at least 2050.

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Conversation Starters Amazon has reportedly bid between $70 million and $100 million for rights to a new NFL Black Friday game after team owners passed [[link removed]] a resolution that allows the league to schedule an additional short-game week. The Brooklyn Nets owe [[link removed]] Ben Simmons $113.7 million through 2025, even though he hasn’t suited up since he was traded in February. Even with the second biggest payroll in the NBA, the team is likely heading for a first-round postseason exit. Michael Scott says when it comes to growing your business, the only time you should set the bar low is for limbo. Set the bar high with a great email newsletter service like Campaign Monitor [[link removed]].* From the NBA playoffs to the NFL Draft & the Kentucky Derby, Atmosphere Sports is bringing sports back to the center. Learn more [[link removed]].*

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Question Of The Day

Have you ever played any of the 'Assassin's Creed' games?

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Monday’s Answer

58% of respondents think the Broncos will get a new stadium with its new ownership.

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

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