July 5, 2022

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The third time might be the charm — unless you’re the GOAT. Michael Jordan will make his fourth appearance [[link removed]] on an NBA 2K cover with the release of the NBA 2K23 video game. His Airness has appeared on the covers of 2K11, 2K12 (along with Magic Johnson and Larry Bird), and a 2K16 special edition.

WTA to Reportedly Sell Stake to CVC [[link removed]]

Susan Mullane-USA TODAY Sports

The Women’s Tennis Association is securing a deal to sell a 20% stake to private equity firm CVC Capital Partners for $180 million, according to The Times.

The potential sale follows talks between CVC Capital, the WTA, and the Association of Tennis Professionals for a $600 million merger [[link removed]] of the top men’s and women’s professional tennis tours.

However, the ATP has launched a new strategic plan [[link removed]] that excludes deals with private equity firms.

No deal between the WTA and CVC Capital has been finalized.An agreement is expected [[link removed]] to be confirmed at a WTA board meeting in September.It would see CVC Capital own 20% of the WTA’s commercial revenue.

CVC Capital is also in talks to acquire [[link removed]] a 25% stake in events promotion company Matchroom Sport in a deal that could fetch an asking price of $215 million. A sale could value Matchroom — which has gained notoriety through boxing — for as much as $862 million.

Taking a Stand

The WTA continues to support its players off the court. In November 2021, the organization threatened [[link removed]] to cease operations in China in response to the then-disappearance of tennis player Peng Shuai, who accused a former official of sexual assault.

The Chinese player retracted her claims and has since been in talks with Olympic officials.

In 2018, the WTA struck a 10-year deal to host its year-end finals in China through 2028. The country hasn’t hosted the WTA Shenzhen Open since 2020 due to COVID-related restrictions.

Six Pac-12 Schools in Talks with Big 12 [[link removed]]

Kirby Lee-USA TODAY Sports

Six schools could follow USC and UCLA out of the Pac-12 as the college football landscape reshapes in real time.

Arizona, Arizona State, Colorado, and Utah are reportedly in discussions [[link removed]] to join the Big 12. Oregon and Washington could also follow the same path. With USC and UCLA leaving for the Big Ten in 2024, a prospective mass exodus presents a dire scenario for the Pac-12.

If all six schools depart, the Pac-12 would have only four full members remaining.10 schools have reportedly reached [[link removed]] out to Big Ten commissioner Kevin Warren since Thursday.The Pac-12 is reportedly exploring its options, which could include bringing in more teams or seeking a merger with the Big 12. TV Ties

Conference realignment in the coming months will prove an especially high-stakes question for the Pac-12, whose deals with Fox and ESPN expire in 2024.

In fiscal 2020, which reflects the last college football season unaffected by the pandemic, the Pac-12 distributed an average of $33.6 million to its member schools. The Big Ten, meanwhile, gave out $54.3 million to each of its members except Maryland and Rutgers, which joined in 2014.

The Big Ten’s next set of media deals were expected [[link removed]] to top $1 billion prior to USC and UCLA joining the conference.

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Man City Owner Scores Another Team [[link removed]]

Palermo FC

City Football Group’s soccer portfolio is now one club stronger.

The owner of Manchester City FC purchased a majority stake in Palermo FC on Monday. Terms of the deal weren’t disclosed, though some outlets report [[link removed]] it could be around $13.6 million.

Former majority owner Hera Hora srl, which is co-owned by team president and chairman Dario Mirri, will retain [[link removed]] a 20% stake. Mirri will stay on as the team’s president and chairman.

Abu Dhabi United Group owns roughly 78% of City Football Group, American investment firm Silver Lake owns [[link removed]] around 10%, and China Media Capital and CITIC Capital own the remaining 12%.

CFG also owns New York City FC, Melbourne FC, Yokohama F. Marinos, Montevideo City Torque, Girona, Sichuan Jiuniu, Mumbai City FC, Lommel SK, and Troyes.City Football Group entered an agreement [[link removed]] to complete the takeover of Brazilian club Bahia in April.In January, Club Bolivar joined [[link removed]] CFG as the latter’s first partner club. Palermo’s Promotions

After going bankrupt in 2019, Palermo began playing again as a phoenix club in Serie D — the country’s fourth division club.

The Sicilian club played in Serie C during the 2021-22 season, winning promotion to Serie B — Italy’s second division — with last month’s playoff win against Padova.

“We agreed the investment before the end of the season, so we know we have a partner which is committed to growing Palermo the right way,” Mirri said about CFG.

Conversation Starters In The Leadoff, Peacock secures $1 billion in upfront ad sales, the FIFA corruption probe disburses more funds, Chicago eyes new football and baseball stadiums, and a broadcast company wants to terminate its $310 million rights deal for Cricket Australia. Click here to listen [[link removed]]. Mike Grier is set to be announced [[link removed]] as the new general manager of the San Jose Sharks, making him the first black GM in NHL history. English pro golfer Ian Poulter is among three golfers who have been reinstated [[link removed]] to the Scottish Open by the UK’s Sport Resolutions board. Brittney Griner has sent a letter [[link removed]] to the White House, appealing directly to President Biden to secure her release from Russia.

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Market Movers

U.S. stocks were mixed on Tuesday. Here’s a look at how sports-related stocks performed:

RCI [[link removed]]

Rogers Communications Inc.

[[link removed]]

$48.41

[[link removed]]

+1.11%

[[link removed]] MSGS [[link removed]]

Madison Square Garden Sports Corp

[[link removed]]

$155.82

[[link removed]]

+1.27%

[[link removed]] DIS [[link removed]]

Walt Disney Co (The)

[[link removed]]

$96.99

[[link removed]]

+2.82%

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

MGM Resorts International

[[link removed]]

$30.28

[[link removed]]

+3.49%

[[link removed]] PLNT [[link removed]]

Planet Fitness Inc

[[link removed]]

$71.47

[[link removed]]

+5.18%

[[link removed]] UA [[link removed]]

Under Armour Inc

[[link removed]]

$7.92

[[link removed]]

+5.53%

[[link removed]] (Note: All as of market close on 7/5/22) What to Watch

The Tampa Bay Rays (43-37) face the Boston Red Sox (45-35) on Tuesday night at Fenway Park.

How to Watch: 7:10 p.m. ET on TBS

Betting Odds: Red Sox -1.5 || ML -130 || O/U 9

Pick: Expect the Red Sox to build on Monday’s win. Take Boston on the moneyline.

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Written by Justin Byers [[link removed]], Owen Poindexter [[link removed]], Abigail Gentrup [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[link removed]]

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