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 six clubs in December and four in January for $64.2 million.

Endeavor president Mark Shapiro said 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. 

Silver Lake is Endeavor’s majority 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 $130.45 million in New Zealand Rugby earlier this year and has participated in multiple rounds for Fanatics, including a $350 million round for Fanatics Trading Cards last year.

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 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 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 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.

U.S. District Judge Beth Labson Freeman dealt the PGA Tour its first victory in a legal challenge brought 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. 
• 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.