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

| by Doug Greenberg

Tom Brady, Kim Clijsters Buy Major League Pickleball Team

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 investments over the last few months include the Premier Lacrosse League and Athletes Unlimited.
• Durant invested 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, Tom Brady and Kim Clijsters led an ownership group that bought another one of the expansion teams. Two weeks earlier, 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 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 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 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 three cruise ships to operate as hotels for the tournament. 

Making the Cut

Qatar Airways has cut 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.

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 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 $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 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 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 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 to the Financial Times.

Some reports suggest the current owners have a $1 billion asking price — the same figure at which Forbes last valued the club.

Suning Holdings purchased a majority stake in the team in 2016 for $306 million but has struggled financially – it recorded a $6.6 billion loss for 2021.

• In February 2021, Suning received a $275 million loan from Oaktree Capital.
• In July 2021, Suning secured a $1.36 billion bailout from the local government and Alibaba.

Last year, Suning injected 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 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.