The A’s may stay in Oakland after all.

The team’s proposed $12 billion development proposal cleared a key vote Thursday, allowing the project to move forward.

The San Francisco Bay Conservation and Development Commission voted 23 to 2 to remove Howard Terminal’s “port use” designation, clearing the path for a potential ballpark project. Commission staff provided a key lift for the project, recommending prior to the vote that the port designation be removed.

• The stadium project is far from a done deal — the team must still strike a deal with the city of Oakland.
• Housing remains a sticking point in negotiations with the city. 
• The project calls for park land, a 400-room hotel, 270,000 square feet of retail space, and 3,000 housing units. The city is calling for 15% of those housing units to be affordable, or above city requirements of 7% to 12%.

Oakland A’s president Dave Kaval called the vote “a huge win for our waterfront ballpark project and the future of Oakland and the A’s.”

There’s Always Vegas

A move to the Las Vegas area remains an option for the team. A’s executives have pursued the Oakland project and a new development in southern Nevada on parallel tracks. The team had narrowed down its Las Vegas options to two sites.

The main hurdle toward a move there may be securing public financing, which could be politically contentious for Nevada Gov. Steve Sisolak.

MLB would reportedly waive relocation fees associated with the move, which could run up to $1 billion.

Canal+ has landed French rights to Europe’s top soccer competition.

The French media company will take over exclusive rights to the UEFA Champions League, beginning with the 2024-25 season.

• The three-year deal is worth $503 million per season.
• Canal+ shares rights with BeIN Sports for the current three-year cycle.
• UEFA receives $393 million annually on its current set of French media deals. 
• BeIN Sports shows a larger proportion of games, but Canal+ has first-choice rights to 34 matches and 16 UEFA Europa League and Conference League games.

In April, Canal+ extended its relationship with another global sports property. The network inked a deal with Formula 1 through 2029. Canal+ currently pays around $65 million to show the racing series, and the next deal will reportedly be for a significantly higher price.

Swiss Switch

UEFA is switching to a new Swiss format in 2024, which will create a larger group stage and an additional French team. When the new deal kicks in, Canal+ will show 550 matches per season.

France requires the event to also be shown on free-to-air television. M6 will replace TF1 in that capacity in 2024 at a reported cost under $4.2 million per season.

The NHL has secured a deal with Mitchell & Ness that will see the two entities collaborate on licensed apparel and accessories. 

“Mitchell & Ness is at the cross-section of fashion, streetwear, culture, and authenticity, which is a sweet spot for hockey fans,” said NHL CBO and senior executive VP Brian Jennings. 

• No terms of the deal have been disclosed.
• It covers all 32 NHL franchises.
• Michell & Ness has also signed deals with the NHLPA and NHL Alumni Association.
• The first collection of products will be available in November 2022. 

The vintage sports jersey maker was acquired by Fanatics and several high-profile investors in February in a deal valued at $250 million — five times the amount Adidas sold it for to Juggernaut Capital Partners in 2016. 

Investors in the acquisition included entrepreneur Maverick Carter, rappers Jay-Z, Meek Mill, and Lil Baby, and the TikTok-famous D’Amelio family. The consortium of investors own 25% of Mitchell & Ness, while the remaining stake is held by Fanatics — which is valued at $27 billion. 

Perfect Timing 

NHL commissioner Gary Bettman claims the league is set to generate a record $5.2 billion in revenue for the 2021-22 season, which concluded last week when the Colorado Avalanche defeated Tampa Bay Lightning in the Stanley Cup Final.

As a result, the league has raised its salary cap for the 2022-23 season to $82.5 million, marking the first increase in three years.

Endeavor Group Holdings is condensing two of its biggest divisions.

On Location — Endeavor’s sports, music ticketing, and hospitality business — is merging with talent agency IMG’s event group.

Endeavor acquired On Location in 2020 for $660 million. The firm has more than 150 rights-holders.

• On Location is the NFL’s hospitality partner, which includes work on Super Bowl events. This year’s Super Bowl offering generated the largest revenue on record for On Location, according to Endeavor president Mark Shapiro.
• It also includes the PGA, NCAA, and UFC as clients and is a hospitality provider for the Olympics in Paris, Milan, and Los Angeles.

On Location sits within Endeavor’s events, experiences, and rights division — the company’s largest — which reported $825.8 million in first-quarter revenue. In comparison, Endeavor’s representation division had $357.3 million in revenue.

Endeavor acquired IMG in 2014 for $2.3 billion. IMG’s roster includes the Rugby World Cup, Madrid Open, and SailGP.

Job Adjustments

Paul Caine, previously On Location’s president, will serve as president of the new subsidiary. Jon Lavallee will take over as the subsidiary’s chief financial officer. Lavallee was CFO of On Location after the company acquired PrimeSport in 2017, where he served as chief operating officer.

No layoffs are expected as part of the merger.