August 10, 2022

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Vernon Davis reached the pinnacle of the NFL, winning Super Bowl 50 alongside Peyton Manning. Now he’s focused on his businesses and burgeoning Hollywood career. In a new episode of our My Other Passion podcast, he gets into investments, what he learned from Morgan Freeman on set, and much more. Check it out on Apple [[link removed]], Spotify [[link removed]], or YouTube [[link removed]]!

Endeavor to Sell 10 Minor League Baseball Teams [[link removed]]

Nathan J Fish/Sun-News/Imagn

Silver Lake has entered an agreement to purchase Diamond Baseball Holdings from Endeavor for $280 million.

Formed last year, Endeavor owns 10 minor league baseball teams through DBH — including affiliates of the St. Louis Cardinals, Chicago Cubs, and New York Yankees. The company purchased [[link removed]] six clubs in December and four in January for $64.2 million.

Endeavor president Mark Shapiro said [[link removed]] the company’s “relationship with MLB and the MLBPA took priority given the importance of our overall agency business and our continued investment in our baseball representations practice within WME Sports.”

The MLBPA previously claimed Endeavor’s ownership of player agents in its WME Sports division was a conflict of interest.Shapiro said there was little indication that a potential conflict would have prohibited Endeavor’s ownership plans.

“As we continue our active acquisition strategy, we will remain focused on key markets, historic brands, modernized facilities, and local, regional, and national partnerships within each of these important communities,” DBH CEO Peter Freund said [[link removed]].

Silver Lake is Endeavor’s majority [[link removed]] investor, with 69% of the company’s voting power. The transaction, expected to close in Q4 pending customary conditions and approvals, will allow Endeavor to pay down debt.

Silver Lake’s Sports

Silver Lake has other sports entities in its portfolio.

The firm invested [[link removed]] $130.45 million in New Zealand Rugby earlier this year and has participated in multiple [[link removed]] rounds for Fanatics, including a $350 million round [[link removed]] for Fanatics Trading Cards last year.

New African Super League to Offer $100M in Prizes [[link removed]]

CAF

A new soccer league plans to bring together top teams across Africa — and offer prize money far greater than the continent’s Champions League.

Confederation of African Football president Patrice Motsepe and FIFA president Gianni Infantino announced [[link removed]] the launch of an African Super League on Wednesday. The tournament will offer $100 million in prizes.

The league will bring together 24 teams across 16 countries, with a maximum of three per country. Each team will get an initial $2.5 million to help cover travel and logistics.The winner will receive $11.6 million. The Champions League winner currently receives $2.5 million.The league will start in August 2023 and run to the following May.

The tournament is expected [[link removed]] to generate $200 million, according to a presentation seen by the BBC. The Confederation of African Football lost $45 million in 2020-21.

Don’t Call it ‘Super’

The league is making certain distinctions from the European Super League, which failed amid fan and even government pushback. Previous reports said [[link removed]] it would be named the African Football League, in part to avoid connotations with the European project.

The league will have promotion and relegation – a key structural element to the major European soccer leagues that was absent from the European Super League.

Motsepe has said previously that the league will help African teams retain their top players, who might otherwise seek larger paydays in Europe.

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LIV Golf Hit With Legal Setback [[link removed]]

Adam Hagy-USA TODAY Sports

U.S. District Judge Beth Labson Freeman dealt the PGA Tour its first victory in a legal challenge brought [[link removed]] by LIV Golf last week as she denied a temporary restraining order that would have cleared three of the Saudi-backed circuit’s participants to compete in the FedEx Cup Playoffs.

In her ruling in a San Jose courtroom on Tuesday, Freeman said the “evidence shows without a doubt” that Talor Gooch, Hudson Swafford, and Matt Jones haven’t suffered irreparable harm because they “will be earning more” playing with LIV Golf.

Gooch, Swafford, and Jones were put on probation and then suspended by the PGA Tour after the three left for LIV Golf earlier this year, making them ineligible for the three-stop postseason that begins at TPC Southwind in Memphis on Thursday.

Major Pay Bump

The trio’s recent paydays support Freeman’s ruling.

Gooch (turned pro in 2014) made $9.5 million on the PGA Tour. In three LIV events, he’s made $1 million more per tournament (1,387%), according to Bloomberg [[link removed]]. Swafford (2010) had PGA Tour earnings of $10 million. His per-tournament winnings have increased more than $108,195 (243%) since joining LIV Golf. Jones (2001) made $18 million on the PGA Tour. Jones’ average winnings are $147,922 more (311%) since he defected to LIV Golf.

“Our players, fans, and partners can now focus on what really matters over the next three weeks: the best players in the world competing in the FedExCup Playoffs,” PGA Tour commissioner Jay Monahan wrote in a letter to players.

Conversation Starters In The Leadoff, Netflix makes a major gaming push, FC Barcelona sells a 25% stake in its media production arm, Take-Two Interactive reports mixed earnings, and the Australian Open generates $405.3 million in 2021 and 2022. Click here to listen [[link removed]]. Michael Jordan’s game-worn jersey from Game 1 of the 1998 NBA Finals is expected [[link removed]] to fetch a winning bid between $3 million and $5 million — the largest estimate ever for a piece of Jordan memorabilia. On Wednesday, the legal fight over graphic photos taken by first responders of Kobe Bryant’s fatal helicopter crash in Calabasas, California, began [[link removed]] at a federal courthouse in Los Angeles.

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Market Movers

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

FL [[link removed]]

Foot Locker Inc

[[link removed]]

$29.90

[[link removed]]

+0.55%

[[link removed]] RCI [[link removed]]

Rogers Communications Inc.

[[link removed]]

$46.38

[[link removed]]

+2.25%

[[link removed]] BYD [[link removed]]

Boyd Gaming Corp.

[[link removed]]

$56.24

[[link removed]]

+3.11%

[[link removed]] ELY [[link removed]]

Callaway Golf Co.

[[link removed]]

$23.28

[[link removed]]

+3.47%

[[link removed]] MANU [[link removed]]

Manchester United Plc.

[[link removed]]

$12.75

[[link removed]]

+9.91%

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

MGM Resorts International

[[link removed]]

$34.48

[[link removed]]

-0.78%

[[link removed]] (Note: All as of market close on 8/10/22) What to Watch

Rayo Vallecano travels to FC Barcelona for a highly anticipated match at Spotify Camp Nou.

The match represents the start of a new La Liga season for both clubs and it is sure to entertain.

How to Watch: Saturday at 3 p.m. ET on ESPN+ / Stream Rayo vs Barcelona on ESPN+ [[link removed]]*

*Sponsored content. Game availability differs by market, check your local listing.

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Written by Abigail Gentrup [[link removed]], Owen Poindexter [[link removed]], A.J. Perez [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[link removed]]

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