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 reports of any selection delay or additional stages for the process. While it reportedly 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 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 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 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 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 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 opposing the project, the MLS team, owned by David Beckham and Jorge Mas, outlined 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 $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 that the city will reappraise the land before agreeing to the deal.

A city commission will vote on the project on Thursday.

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

The France-based video game publisher has attracted 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 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 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 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 several upcoming titles.

The company posted 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.

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 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 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.