December 8, 2022
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Brittney Griner is finally [[link removed]] coming home. After 294 days in Russian custody for allegedly possessing vape canisters with cannabis oil, the WNBA star’s freedom was secured by the Biden administration as part of a prisoner swap. Griner will fly to San Antonio to receive care.
FTC Says Microsoft’s $69B Activision Blizzard Deal Would ‘Harm Competition’ [[link removed]]
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The biggest deal in gaming history was dealt a major blow on Thursday.
The Federal Trade Commission sued [[link removed]] to block Microsoft’s $69 billion acquisition of Activision Blizzard, saying the sale would give the tech giant “both the means and motive to harm competition.”
The regulator raised concerns about Microsoft raising prices, directing gamers to purchase its platforms — namely Xbox and Windows — and holding undue sway over the cloud gaming sector.The FTC cited Microsoft’s 2021 acquisition of Bethesda parent ZeniMax Media, noting that the tech giant assured European regulators that games would continue to be available on competitors’ platforms but made several exclusive anyway.Activision Blizzard owns many of the most popular gaming franchises, including “Call of Duty” and “World of Warcraft.”
The deal is also under regulatory scrutiny in the U.K., the European Union, and Australia.
Far From Dead
“We have been committed since Day 1 to addressing competition concerns, including by offering earlier this week proposed concessions to the FTC,” said Microsoft president Brad Smith, adding “we have complete confidence in our case and welcome the opportunity to present our case in court.”
Microsoft and Activision Blizzard sought to preempt regulators’ concerns with a string of deals, including one announced [[link removed]] earlier this week to bring “Call of Duty” to Nintendo.
While Activision’s stock dropped 1.5% on Thursday, its price, which has hovered between $72 and $77, already hinted at skepticism that Microsoft’s $95-per-share offer would be completed. Microsoft’s stock rose 1.2%.
Panthers To Pay Back Money As Failed $800M HQ Saga Nears End [[link removed]]
Bob Donnan-USA TODAY Sports
The dispute surrounding a failed $800 million team headquarters for the NFL’s Carolina Panthers in Rock Hill, South Carolina, may have finally come to an end.
Panthers owner David Tepper and his development arm GT Real Estate have reached a $21 million settlement with Rock Hill’s York County over sales tax money allocated toward the project, which began construction in 2020 and was halted in March.
Rock Hill had agreed to pay a portion of infrastructure costs for the facility.Plans for the facility included a 5,000-seat stadium and indoor practice center.The project was paused when Rock Hill missed a payment.In November, Rock Hill agreed [[link removed]] to its own $20 million settlement with GT Real Estate.
The settlement between York County, Tepper, and GT Real Estate follows an investigation [[link removed]] by the York County’s sheriff’s office over the use of public money for the now-defunct project. It is unclear whether the settlement impacts the investigation, but county officials believe that the matter hasn’t been resolved, despite Tepper and GT Real Estate having “acted in good faith.”
Payment Plan
GT Real Estate filed for bankruptcy in June after investing more than $170 million in the project.
Two months later, the development arm submitted a plan to the U.S. Bankruptcy Court to repay creditors and resolve all claims. GT Real Estate plans [[link removed]] to put $60 million into a trust dedicated to paying back contractors and subcontractors, as well as $500,000 from the trust for unsecured claims.
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Textor Closer to Lyon Takeover, Valuing French Club at $842M [[link removed]]
Olympique Lyonnais
An American investor is one step closer to a takeover deal for a top French soccer club.
Former FuboTV executive John Textor has given Ligue 1’s Olympique Lyonnais assurance that he will complete a deal for the club after being given a Dec. 7 deadline [[link removed]] to reach a final agreement.
The pending deal will be through Textor’s investment vehicle, Eagle Football Holdings.EFH will pay [[link removed]] $344.2 million for 39.2 million shares and 789,824 subordinated bonds.The company will submit a tender offer for Lyon’s remaining shares.A finalized deal would value [[link removed]] Lyon at roughly $842 million.
Textor and Lyon were expected to complete a deal earlier this year but hit a series of snags.
In September, the deal was delayed over financing, and a month later it was postponed again as the two parties failed to reach a deal despite “substantial progress” in initial negotiations.
Dedicated to Soccer
A deal for Lyon would add to a growing portfolio of soccer-related investments for Textor.
He is the majority owner of Brazilian club Botafogo and Belgium’s RWD Molenbeek, as well as the co-owner of the Premier League’s Crystal Palace. The club’s investors had attempted to block Textor’s deal for Lyon as they questioned personnel changes to EFH’s ownership group.
A completed acquisition of Lyon would give Textor’s soccer holdings [[link removed]] a roughly $1 billion value.
Conversation Starters In The Leadoff: The IOC is facing the realities of a changing planet, an MLB team could change hands before the 2023 season, Microsoft and Nintendo secure a deal for “Call of Duty,” and the largest sporting goods retailer in China is considering taking one of its brands public. Click here to listen [[link removed]]. The XFL has unveiled [[link removed]] its team uniforms — and its accompanying equipment partnership with Under Armour — ahead of its February 2023 relaunch. Riot Games announced [[link removed]] details surrounding its new 2023 Season Kickoff event for the 13th season of League of Legends Esports that will begin on Jan. 10, 2023.*
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What to Watch
The Las Vegas Raiders (5-7) face the Los Angeles Rams (3-9) on “Thursday Night Football” at SoFi Stadium.
How to Watch: 8:15 p.m. ET on Amazon Prime Video
Betting Odds: Raiders -7 || ML -275 || O/U 42
Pick: Expect the Raiders to overwhelm the shorthanded Rams. Take Las Vegas to cover.
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