| From | Front Office Sports <[email protected]> |
| Subject | Durant Latest Pickleball Investor |
| Date | October 20, 2022 11:06 AM |
Links have been removed from this email. Learn more in the FAQ.
Links have been removed from this email. Learn more in the FAQ.
October 20, 2022
Read in Browser [[link removed]]
SPONSORED BY
Big East basketball is split [[link removed]] on the NCAA’s idea for preseason exhibition games, which some feel would overtax college athletes and administration. “I’m not a fan of it,” said Marquette coach Shaka Smart, who fears “collateral damage” for athletes.
Thirty Five Ventures Latest to Invest in Major League Pickleball [[link removed]]
Jessica Alcheh-USA TODAY Sports
The parade of celebrity pickleball investors rolls on.
Thirty Five Ventures — the investment firm founded by NBA superstar Kevin Durant and entrepreneur Rich Kleiman — has purchased a Major League Pickleball expansion team that will compete in the 2023 MLP season.
Deals [[link removed]] | by Doug Greenberg [[link removed]] Tom Brady, Kim Clijsters Buy Major League Pickleball Team [[link removed]] Brady and Clijsters are the latest stars to buy into Major League… October 12, 2022
“35V is committed to investing in the future of sports and emerging opportunities, and Major League Pickleball is a league we are incredibly excited about,” said Kleiman. “As an avid pickleball player and fan, the interest in the sport was a natural fit.”
MLP is the latest addition to 35V’s portfolio.
The company’s recent [[link removed]] investments over the last few months include [[link removed]] the Premier Lacrosse League and Athletes Unlimited.Durant invested [[link removed]] in League One Volleyball last month.Thirty Five Ventures also counts Goldin Auctions, Just Women’s Sports, Overtime, the Philadelphia Union, SeatGeek, Sleeper, The Players Tribune, and WHOOP among its sports investments. League of Stars
Durant and Kleiman are the newest members of what’s becoming a large club of celebrity athlete investors in MLP.
Last week [[link removed]], Tom Brady and Kim Clijsters led an ownership group that bought another one of the expansion teams. Two weeks earlier [[link removed]], LeBron James and other NBA stars invested in one.
The league is expected to add four teams before the 2023 season — bringing the league total to 16. It is also increasing player prize money and payouts to over $2 million.
FIFA Criticized for Not Establishing $440M Fund for World Cup Workers [[link removed]]
FIFA
FIFA has received backlash for failing to create a compensation fund for migrant workers harmed or killed during preparations for the 2022 FIFA World Cup in Qatar.
“FIFA is failing in its human rights responsibilities and showing its disdain for the migrant workers who built the Qatar tournament infrastructure that will fuel its profits,” said [[link removed]] Michael Page, deputy Middle East and North Africa director at Human Rights Watch.
FIFA has been asked by human rights groups — including Amnesty International, FairSquare, and Human Rights Watch — to match $440 million of World Cup prize money for the proposed fund.
FIFA said that it was “assessing” the fund but has yet to provide an update.The potential fund has been backed by American, French, and English football associations.It has also garnered support from World Cup sponsors, including Adidas.
The 2022 World Cup — which runs Nov. 20 through Dec. 18 — has been marred by other controversies, particularly Qatar’s race to accommodate the anticipated influx of international soccer fans. The host nation has sold [[link removed]] 2.9 million tickets and expects to have over 1 million foreign visitors, but in June, only 90,000 hotel rooms were available throughout host city Doha.
MSC Cruises plans to provide [[link removed]] three cruise ships to operate as hotels for the tournament.
Making the Cut
Qatar Airways has cut [[link removed]] flights to 18 destinations to make room for international airlines carrying fans to Hamad International Airport in Doha. Qatar expects roughly 500 daily shuttle flights.
SPONSORED BY CITI®
The Credit Card That Adapts to You
[[link removed]]
Whether you’re shopping for this week’s groceries or you’re traveling around the world, the Citi Custom Cash [[link removed]] SM [[link removed]] Card [[link removed]] automatically adjusts to fit your lifestyle.
With the Citi Custom CashSM Card, you earn extra cash back [[link removed]] in your top eligible spend category during each billing cycle. You don’t have to keep tabs on rotating categories, or remember to opt in! Your cash back automatically adjusts for you.
Learn more [[link removed]] and apply today.
Memphis’ $684M Plan to Keep Sports Teams [[link removed]]
Memphis 901 FC
Memphis is ramping up its sports investments with a $684 million project.
The city wants to renovate FedExForum, Simmons Bank Liberty Stadium, and AutoZone Park, as well as build [[link removed]] a new soccer-specific stadium for USL Championship club Memphis 901 FC.
Mayor Jim Strickland is proposing that Tennessee contribute $350 million of the total figure.
The goal of the project is reportedly to keep professional teams in the city and boost the University of Memphis’ position when it comes to conference realignment.
The NBA’s Memphis Grizzlies and the Memphis Tigers men’s basketball team play at FedExForum, which cost [[link removed].] $250 million to build. The Grizzlies’ contract expires in 2029.The Memphis Tigers football team plays at Simmons Bank Liberty Stadium.The Memphis Redbirds, the Triple-A affiliate of the St. Louis Cardinals, play at AutoZone Park — as does Memphis 901 FC. Strickland said [[link removed]] having both the Redbirds and Memphis 901 FC at AutoZone Park has damaged the field.
Strickland’s plan referenced more than $21 billion in economic activity over 15 years. It also listed “necessary state legislative action,” including a 5% hotel/motel tax.
901 Construction
The proposed [[link removed]] stadium for Memphis 901 FC would take the place of the Mid-South Coliseum — though the new project would incorporate it in the design — and is planned to open in time for the 2025 season with 7,500-10,000 fixed seats.
The facility is being designed by Odell Sports & Entertainment Group.
Inter Milan For Sale With Reported $1B Price Tag [[link removed]]
Inter Milan
Inter Milan is the latest soccer club to land on the market.
The Raine Group, the bank that handled the $5.2 billion sale of Chelsea, will begin searching for a buyer for the Serie A club with Goldman Sachs, according [[link removed]] to the Financial Times.
Some reports suggest [[link removed]] the current owners have a $1 billion asking price — the same figure at which Forbes last valued [[link removed]] the club.
Suning Holdings purchased [[link removed].] a majority stake in the team in 2016 for $306 million but has struggled financially – it recorded [[link removed]] a $6.6 billion loss for 2021.
In February 2021, Suning received a $275 million loan from Oaktree Capital.In July 2021, Suning secured [[link removed]] a $1.36 billion bailout from the local government and Alibaba.
Last year, Suning injected [[link removed]] a shareholder loan of $71.8 million into Inter and is reportedly set to add another $95.7 million to “add more breathing room to the budget.”
Last month, the club reported $420.7 million in revenue for the 2021-22 financial year. In its earnings announcement, Inter claimed its majority shareholder is committed to “backing the group by ensuring asset support.”
Milan Merchandise
Although an announcement has yet to be made, eBay is reportedly [[link removed]] the club’s new official marketplace through the 2023-24 season. The company will launch an Inter store with original products, and its logo has already appeared on its women’s team jerseys and LED advertising over the past few weeks.
SPONSORED BY NETSUITE
The Life of a College Football Superstar
My Other Passion, presented by NetSuite [[link removed]], brings you conversations with the most influential athletes, celebrities, and executives about what drives them – beyond the sports or businesses they’re famous for.
In our latest episode, Ernest Baker, editor in chief of Front Office Sports, sits down with Ohio State quarterback CJ Stroud to talk about the Heisman Trophy race, how much money he’s making from NIL deals, NCAA conference realignment, his NFL dreams, the TV shows he’s watching when he’s not on the field, and much more.
Listen now [[link removed]] or watch on YouTube [[link removed]] for future episodes releasing every Wednesday.
If you or someone you know is an athlete, celebrity, or business leader, reach out [[link removed]] to be featured on an upcoming episode.
Conversation Starters From big runs to home runs, Atmosphere Sports is bringing sports back to the center with scores, highlights, and more. Learn more [[link removed]].* Indianapolis Colts owner Jim Irsay became the first NFL owner to back [[link removed]] the removal of Washington Commanders owner Dan Snyder. For the upcoming American League Championship Series between the Houston Astros and the New York Yankees, Warner Bros. Discovery will stream [[link removed]] an exclusive alt-cast featuring current and former MLB players on the Bleacher Report app as part of a push to find its digital fanbase. Today's Action
NFL
08:15 PM
Saints (+120) at Cardinals (-140)
Bet Now [[link removed]]
MLB
07:37 PM
Yankees (+135) at Astros (-155)
Bet Now [[link removed]]
NCAA
07:30 PM
Troy (+135) at South Alabama (-155)
Bet Now [[link removed]]
*All times are EST unless otherwise noted.
*Odds/lines subject to change. T&Cs apply. See [[link removed]] for details.
Question Of The Day
Do you regularly follow any sports leagues that are primarily outside of the U.S.?
Yes [[link removed]] No [[link removed]]
Wednesday’s Answer
67% of respondents travel for vacation 1-3 times a year and 23% travel 4+ times.
*Sponsored Content
If this email was forwarded to you, you can subscribe here [[link removed]].
Written by Doug Greenberg [[link removed]], Justin Byers [[link removed]], Abigail Gentrup [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[link removed]]
MORE FROM FRONT OFFICE SPORTS:
The Leadoff [[link removed]] - Daily business of sports podcast
Front Office Sports Pro [[link removed]] - The most promising opportunities where sports meets industry
Front Office Sports Learning [[link removed]] - Professional education at the speed of culture
Copyright © 2022 Front Office Sports. All rights reserved.
80 Pine Street Suite 3202 New York, NY 10005
Advertise [[link removed]] / Update your preferences [link removed] / Unsubscribe [link removed]
Read in Browser [[link removed]]
SPONSORED BY
Big East basketball is split [[link removed]] on the NCAA’s idea for preseason exhibition games, which some feel would overtax college athletes and administration. “I’m not a fan of it,” said Marquette coach Shaka Smart, who fears “collateral damage” for athletes.
Thirty Five Ventures Latest to Invest in Major League Pickleball [[link removed]]
Jessica Alcheh-USA TODAY Sports
The parade of celebrity pickleball investors rolls on.
Thirty Five Ventures — the investment firm founded by NBA superstar Kevin Durant and entrepreneur Rich Kleiman — has purchased a Major League Pickleball expansion team that will compete in the 2023 MLP season.
Deals [[link removed]] | by Doug Greenberg [[link removed]] Tom Brady, Kim Clijsters Buy Major League Pickleball Team [[link removed]] Brady and Clijsters are the latest stars to buy into Major League… October 12, 2022
“35V is committed to investing in the future of sports and emerging opportunities, and Major League Pickleball is a league we are incredibly excited about,” said Kleiman. “As an avid pickleball player and fan, the interest in the sport was a natural fit.”
MLP is the latest addition to 35V’s portfolio.
The company’s recent [[link removed]] investments over the last few months include [[link removed]] the Premier Lacrosse League and Athletes Unlimited.Durant invested [[link removed]] in League One Volleyball last month.Thirty Five Ventures also counts Goldin Auctions, Just Women’s Sports, Overtime, the Philadelphia Union, SeatGeek, Sleeper, The Players Tribune, and WHOOP among its sports investments. League of Stars
Durant and Kleiman are the newest members of what’s becoming a large club of celebrity athlete investors in MLP.
Last week [[link removed]], Tom Brady and Kim Clijsters led an ownership group that bought another one of the expansion teams. Two weeks earlier [[link removed]], LeBron James and other NBA stars invested in one.
The league is expected to add four teams before the 2023 season — bringing the league total to 16. It is also increasing player prize money and payouts to over $2 million.
FIFA Criticized for Not Establishing $440M Fund for World Cup Workers [[link removed]]
FIFA
FIFA has received backlash for failing to create a compensation fund for migrant workers harmed or killed during preparations for the 2022 FIFA World Cup in Qatar.
“FIFA is failing in its human rights responsibilities and showing its disdain for the migrant workers who built the Qatar tournament infrastructure that will fuel its profits,” said [[link removed]] Michael Page, deputy Middle East and North Africa director at Human Rights Watch.
FIFA has been asked by human rights groups — including Amnesty International, FairSquare, and Human Rights Watch — to match $440 million of World Cup prize money for the proposed fund.
FIFA said that it was “assessing” the fund but has yet to provide an update.The potential fund has been backed by American, French, and English football associations.It has also garnered support from World Cup sponsors, including Adidas.
The 2022 World Cup — which runs Nov. 20 through Dec. 18 — has been marred by other controversies, particularly Qatar’s race to accommodate the anticipated influx of international soccer fans. The host nation has sold [[link removed]] 2.9 million tickets and expects to have over 1 million foreign visitors, but in June, only 90,000 hotel rooms were available throughout host city Doha.
MSC Cruises plans to provide [[link removed]] three cruise ships to operate as hotels for the tournament.
Making the Cut
Qatar Airways has cut [[link removed]] flights to 18 destinations to make room for international airlines carrying fans to Hamad International Airport in Doha. Qatar expects roughly 500 daily shuttle flights.
SPONSORED BY CITI®
The Credit Card That Adapts to You
[[link removed]]
Whether you’re shopping for this week’s groceries or you’re traveling around the world, the Citi Custom Cash [[link removed]] SM [[link removed]] Card [[link removed]] automatically adjusts to fit your lifestyle.
With the Citi Custom CashSM Card, you earn extra cash back [[link removed]] in your top eligible spend category during each billing cycle. You don’t have to keep tabs on rotating categories, or remember to opt in! Your cash back automatically adjusts for you.
Learn more [[link removed]] and apply today.
Memphis’ $684M Plan to Keep Sports Teams [[link removed]]
Memphis 901 FC
Memphis is ramping up its sports investments with a $684 million project.
The city wants to renovate FedExForum, Simmons Bank Liberty Stadium, and AutoZone Park, as well as build [[link removed]] a new soccer-specific stadium for USL Championship club Memphis 901 FC.
Mayor Jim Strickland is proposing that Tennessee contribute $350 million of the total figure.
The goal of the project is reportedly to keep professional teams in the city and boost the University of Memphis’ position when it comes to conference realignment.
The NBA’s Memphis Grizzlies and the Memphis Tigers men’s basketball team play at FedExForum, which cost [[link removed].] $250 million to build. The Grizzlies’ contract expires in 2029.The Memphis Tigers football team plays at Simmons Bank Liberty Stadium.The Memphis Redbirds, the Triple-A affiliate of the St. Louis Cardinals, play at AutoZone Park — as does Memphis 901 FC. Strickland said [[link removed]] having both the Redbirds and Memphis 901 FC at AutoZone Park has damaged the field.
Strickland’s plan referenced more than $21 billion in economic activity over 15 years. It also listed “necessary state legislative action,” including a 5% hotel/motel tax.
901 Construction
The proposed [[link removed]] stadium for Memphis 901 FC would take the place of the Mid-South Coliseum — though the new project would incorporate it in the design — and is planned to open in time for the 2025 season with 7,500-10,000 fixed seats.
The facility is being designed by Odell Sports & Entertainment Group.
Inter Milan For Sale With Reported $1B Price Tag [[link removed]]
Inter Milan
Inter Milan is the latest soccer club to land on the market.
The Raine Group, the bank that handled the $5.2 billion sale of Chelsea, will begin searching for a buyer for the Serie A club with Goldman Sachs, according [[link removed]] to the Financial Times.
Some reports suggest [[link removed]] the current owners have a $1 billion asking price — the same figure at which Forbes last valued [[link removed]] the club.
Suning Holdings purchased [[link removed].] a majority stake in the team in 2016 for $306 million but has struggled financially – it recorded [[link removed]] a $6.6 billion loss for 2021.
In February 2021, Suning received a $275 million loan from Oaktree Capital.In July 2021, Suning secured [[link removed]] a $1.36 billion bailout from the local government and Alibaba.
Last year, Suning injected [[link removed]] a shareholder loan of $71.8 million into Inter and is reportedly set to add another $95.7 million to “add more breathing room to the budget.”
Last month, the club reported $420.7 million in revenue for the 2021-22 financial year. In its earnings announcement, Inter claimed its majority shareholder is committed to “backing the group by ensuring asset support.”
Milan Merchandise
Although an announcement has yet to be made, eBay is reportedly [[link removed]] the club’s new official marketplace through the 2023-24 season. The company will launch an Inter store with original products, and its logo has already appeared on its women’s team jerseys and LED advertising over the past few weeks.
SPONSORED BY NETSUITE
The Life of a College Football Superstar
My Other Passion, presented by NetSuite [[link removed]], brings you conversations with the most influential athletes, celebrities, and executives about what drives them – beyond the sports or businesses they’re famous for.
In our latest episode, Ernest Baker, editor in chief of Front Office Sports, sits down with Ohio State quarterback CJ Stroud to talk about the Heisman Trophy race, how much money he’s making from NIL deals, NCAA conference realignment, his NFL dreams, the TV shows he’s watching when he’s not on the field, and much more.
Listen now [[link removed]] or watch on YouTube [[link removed]] for future episodes releasing every Wednesday.
If you or someone you know is an athlete, celebrity, or business leader, reach out [[link removed]] to be featured on an upcoming episode.
Conversation Starters From big runs to home runs, Atmosphere Sports is bringing sports back to the center with scores, highlights, and more. Learn more [[link removed]].* Indianapolis Colts owner Jim Irsay became the first NFL owner to back [[link removed]] the removal of Washington Commanders owner Dan Snyder. For the upcoming American League Championship Series between the Houston Astros and the New York Yankees, Warner Bros. Discovery will stream [[link removed]] an exclusive alt-cast featuring current and former MLB players on the Bleacher Report app as part of a push to find its digital fanbase. Today's Action
NFL
08:15 PM
Saints (+120) at Cardinals (-140)
Bet Now [[link removed]]
MLB
07:37 PM
Yankees (+135) at Astros (-155)
Bet Now [[link removed]]
NCAA
07:30 PM
Troy (+135) at South Alabama (-155)
Bet Now [[link removed]]
*All times are EST unless otherwise noted.
*Odds/lines subject to change. T&Cs apply. See [[link removed]] for details.
Question Of The Day
Do you regularly follow any sports leagues that are primarily outside of the U.S.?
Yes [[link removed]] No [[link removed]]
Wednesday’s Answer
67% of respondents travel for vacation 1-3 times a year and 23% travel 4+ times.
*Sponsored Content
If this email was forwarded to you, you can subscribe here [[link removed]].
Written by Doug Greenberg [[link removed]], Justin Byers [[link removed]], Abigail Gentrup [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[link removed]]
MORE FROM FRONT OFFICE SPORTS:
The Leadoff [[link removed]] - Daily business of sports podcast
Front Office Sports Pro [[link removed]] - The most promising opportunities where sports meets industry
Front Office Sports Learning [[link removed]] - Professional education at the speed of culture
Copyright © 2022 Front Office Sports. All rights reserved.
80 Pine Street Suite 3202 New York, NY 10005
Advertise [[link removed]] / Update your preferences [link removed] / Unsubscribe [link removed]
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