August 22, 2022

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Some historically neglected college sports programs are poised to receive more visibility. Last week, CBS announced a partnership [[link removed]] with the largest broadcaster of HBCU sports, Allen Media Group’s HBCU Go, for the 2022-23 season. The collaboration will extend coverage of HBCU sports to 60% of American households.

Manchester United Sale Looking More Likely [[link removed]]

Manchester United

The Premier League’s most valuable team could soon hit the market.

There is a growing sense that Manchester United could be sold by the Glazer family, according [[link removed]] to the Independent. The team was valued [[link removed]] at $4.6 billion by Forbes in May.

The Glazers, who also own the Tampa Bay Buccaneers, have faced regular protests from fan groups complaining about a lack of investment in the team and its Old Trafford stadium.

The family hasn’t publicly committed to a full sale but has recently shown interest in selling a stake.The Glazers had been in talks [[link removed]] with Apollo Global Management about a minority stake sale, but Bloomberg reported [[link removed]] Saturday that Apollo is not currently interested in striking a deal.

The club’s stock rose 10% from Monday to Thursday last week. A full sale could top [[link removed]] that of Chelsea, which went to a consortium led by Los Angeles Dodgers, Lakers, and Sparks co-owner Todd Boehly and Clearlake Capital for $5.3 billion in a deal that closed in May.

Ratcliffe Leads the Pack

The U.K.’s richest person, billionaire Jim Ratcliffe, is interested in buying Man United and willing to purchase a minority stake as an initial step.

Previous club director Michael Knighton is also preparing a bid. The Ricketts family, owner of the Chicago Cubs, could enter the fray, as well.

Madison Square Garden, MSG Network Could Be Spun Off [[link removed]]

MSG

Madison Square Garden Entertainment is considering a spinoff of its live entertainment business, including the iconic home of the New York Knicks and Rangers.

The company announced [[link removed]] Thursday that its board of directors approved exploring the move, which would create two separate public companies.

One of the new companies would include:

Madison Square GardenRegional sports networks MSG, MSG+, and streaming app MSG GO. The networks broadcast the Knicks, Rangers, New York Islanders, New Jersey Devils, Buffalo Sabres, and New York Red Bulls.Long-term arena license deals with the Knicks and RangersThe Hulu Theater, Radio City Music Hall, the Beacon Theater, and the Chicago Theater

The other entity would consist of MSG Sphere, which is building its first entertainment venue at The Venetian in Las Vegas, and a majority of restaurant and nightclub company Tao Group Hospitality.

Revenue Doubles

MSG Entertainment saw [[link removed]] its revenue more than double in the fiscal year ending June 30 to $1.7 billion, compared to $814.2 million the previous 12 months.

Madison Square Garden Sports Corporation, owned by MSG Entertainment executive chair and CEO James Dolan, told a similar story [[link removed]], with $821.4 million in revenue over that period, compared to $415.7 million in the previous fiscal year.

A return to pre-pandemic attendance levels was the primary driver of the turnaround.

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Oakland A’s Talks About Moving to Vegas Gain Steam [[link removed]]

Tim Heitman-USA TODAY Sports

The A’s continue the Byzantine process of seeking a deal to remain in Oakland, but should they bolt to Vegas, they’ll have a very interested suitor.

Billionaire hotel magnate Phil Ruffin, owner of Circus Circus and other properties, reportedly [[link removed]] met with A’s executives last week in Las Vegas.

Negotiations appear to be gaining steam. Ruffin also met with A’s leadership in Oakland on Aug. 2.The focal point of the discussions is Ruffin’s 37-acre Las Vegas Festival Grounds site, which neighbors Circus Circus and the Sahara hotel.

MLB would reportedly seek [[link removed]] around $275 million in public financing for a new stadium in Las Vegas.

The team will eventually choose [[link removed]] between two very different futures.

Oakland’s ‘Mega’ Question

The team is also in ongoing talks with the city of Oakland.

The two sides have an agreement largely figured out in which the team would cover costs related to a $12 billion development, while the city would make around $350 million in offsite infrastructure investments — namely roads, train tracks, and paths near the planned ballpark.

The city earned a $279.5 million appropriation in California’s most recent budget that will help cover those costs and applied for a $113 million grant from the Department of Transportation’s Mega program.

The project could hinge on receiving that grant.

Kings Owner in Talks to Buy MiLB Team for Record Price [[link removed]]

Kyle Terada-USA TODAY Sports

A consortium led by Sacramento Kings owner Vivek Ranadive is reportedly close to securing a deal to buy the city’s minor league baseball team — the River Cats — for roughly $90 million.

The potential [[link removed]] sale — which would include the team’s home field, Sutter Health Park — would mark the highest purchase price ever for a minor league baseball team.

The River Cats are owned by the family of late San Jose Sharks CEO Art Savage.The team is a Triple-A affiliate of the San Francisco Giants.Sutter Health Park opened in 2000 and cost $46.5 million to build at the time.Ranadive, a tech entrepreneur, is estimated to be worth [[link removed]] more than $700 million.

The sale would come in handy, as the Savage family needs to repay bonds related to Sutter Health Park’s construction after the River Cats moved from Vancouver to Sacramento in 2000.

The 15,000-seat ballpark, which was paid for using $40 million of public bonds issued by the River City Regional Stadium Authority, has seen a drop in attendance following the pandemic.

Minor League Sales

Earlier this month, private equity company Silver Lake agreed to purchase [[link removed]] Diamond Baseball Holdings from Endeavor for $280 million.

Endeavor owns 10 minor league baseball teams through DBH — including affiliates of the St. Louis Cardinals, Chicago Cubs, and New York Yankees.

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Conversation Starters What do you think about Amazon’s brand new “Thursday Night Football” theme music? Listen here [[link removed]]. The NFL is back — sort of. The regular season is three weeks away, but some of the action is already underway [[link removed]]. Is the preseason pointless or profitable? Perhaps both. Gov. Laura Kelly announced that Kansas would begin taking [[link removed]] online and in-person sports bets, with a reported “soft launch” at four-state owned casinos and their affiliated mobile apps starting Sept. 1. On Friday, Big Ten commissioner Kevin Warren said he is open [[link removed]] to paying players a share of athletic department revenue in an interview with Bryant Gumbel on HBO’s “Real Sports.” Today's Action

MLB

07:05 PM

Mets (-165) at Yankees (+140)

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MLB

07:10 PM

Angels (+175) at Rays (-205)

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MLB

10:10 PM

Brewers (+205) at Dodgers (-245)

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*All times are EST unless otherwise noted.

*Odds/lines subject to change. T&Cs apply. See [[link removed]] for details.

Question Of The Day

Where do you fill your prescriptions?

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Friday’s Answer

76% of respondents purchase team apparel for their favorite teams.

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

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