Disney paid $900 million to acquire the final chunk of BAMTech, the technological backbone for ESPN+ and the entertainment giant’s other streaming efforts. 

MLB — which founded BAMTech — sold the 15% stake to Disney this month, according to Disney’s latest annual report made public on Tuesday. That puts the valuation of the subsidiary, now known as Disney Streaming, at $6 billion, a 40% jump over the last 15 months.

The move was one that Disney had the right to trigger this year, and comes days after Bob Iger returned as CEO after the company was led by Bob Chapek for two years.

Iger championed Disney’s emphasis on streaming during the latter part of his 15-year tenure atop the company as subscriber losses increased at ESPN, Disney Channel, and other cable properties. 

• Created in 2015 as part of Major League Baseball Advanced Media, BAMTech was a streaming pioneer. The NHL was among the other investors outside of MLB.
• Disney purchased its first stake (33%) in 2016 for about $1 billion.
• In 2017, Disney paid $1.58 billion to increase its total ownership in BAMTech to 75%. 
• The NHL sold its 10% stake to Disney last year for $350 million.

Linear Troubles

Consumer cord-cutting continues to hammer legacy media companies, and Disney is no exception.

Disney’s largest cable networks, ESPN and Disney Channel, each lost 2 million subscribers during the company’s year ending Oct. 1, 2022.

A four-time World Cup-winning team is finally getting a taste of what it feels like to be paid like one.

With the U.S. men’s national soccer team squeaking into the knockout stage after their 1-0 win over Iran on Tuesday, they will split at least $13 million in prize money with the U.S. women’s team, which won the World Cup in 1991, 1999, 2015, and 2019.

• The USWNT earned $6 million combined for their two most recent World Cup championships.
• They are currently set to earn $6.5 million from splitting prize money with the men’s team in the ongoing tournament.
• That figure will bump to $8.5 million for each team if the U.S. prevails over the Netherlands in Saturday’s matchup, and at least $12.5 million if they win the subsequent round.

In total, FIFA will pay out $440 million in prizes to the 32 World Cup teams. The governing body paid out a total of $30 million to women’s teams over the 2019 tournament.

Tilted Field

In February the USWNT agreed to a settlement with the U.S. Soccer Federation, ending a six-year lawsuit.

The settlement included a $24 million payment, $22 million of which went to players, and adjustments to how players are compensated going forward, including splitting World Cup prizes and equal pay for USSF-controlled matches.

Following the settlement, USWNT star and former captain Megan Rapinoe turned her attention to FIFA, saying, “You know what? You’re next.”

The Glazer family is showing more interest in selling Manchester United — and investors are taking notice.

The publicly traded team’s stock price has surged more than 70% over the past week. 

• The Glazers are reportedly looking for a price above $7.2 billion, which would be a world record for a sports team sale.
• The family is retaining The Raine Group as its exclusive financial advisor. Raine handled the sale of Premier League rival Chelsea.
• The Glazers have not committed to a full sale — perhaps to retain leverage — and Raine has not defined a timeline.

The Glazers, who also own the Tampa Bay Buccaneers, have faced fan protests calling on them to sell the team since the beginning of the Premier League’s season.

Whoever purchases the team will not have its most famous star: Cristiano Ronaldo will depart by mutual agreement after being highly critical of the team in a recent interview.

Buyers Lining Up

Billionaire Jim Ratcliffe, a boyhood fan of Manchester United who made a late bid for Chelsea, has shown interest in buying the team. Zara founder Amancio Ortega is reportedly interested as well. 

Inter Miami part-owner David Beckham could join a consortium looking to buy the team.
Last week, a report signaled that Apple could make a stunning play for Manchester United, but subsequent reports have disputed that notion.

Analysts are expecting a massive increase in sports betting on this year’s World Cup compared to the 2018 tournament.

Barclays analysts claim the tournament is expected to see $35 billion in wagers. That figure would be a 65% increase from four years ago.

The tournament’s nine draws to date have been favorable to sportsbooks since most bettors pick one team to win.

High Stakes for U.S.

While Europe is likely the bigger hub for World Cup bets, the U.S. is enjoying its first tournament since legal sports betting became widespread in the country.

• During the 2018 World Cup — for which the U.S. did not qualify — sports betting was legal for around 10 million Americans.
• It is currently legal for roughly 132 million. 

According to the American Gaming Association, 20.5 million Americans planned before the tournament to place a total of $1.8 billion in World Cup bets.

With the U.S. advancing to the knockout stage after its 1-0 victory over Iran on Tuesday, U.S. bettors will be able to bet on the national team for at least one more game.