Also: FanDuel’s parent company could go public in the U.S. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌
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Front Office Sports

POWERED BY

In the second episode of Driven with Michelle Wie West, a new video series from Front Office Sports and PitchBook, the five-time LPGA Tour winner, angel investor, and PitchBook partner sits down with beach volleyball pro Kerri Walsh Jennings, winner of three straight gold medals for the U.S. in 2004, 2008, and 2012.

See why the five-time Olympian launched athlete-focused company p1440 and how running a new business changed her perspective.

Watch the full episode now.

Teams

MSP Sports Capital Prepares $3.75B Tottenham Bid

THFC

MSP Sports Capital is interested in another Premier League team.

Jahm Najafi, chair of MSP Sports Capital and Phoenix Suns co-owner, is reportedly set to launch a $3.75 billion takeover bid for Tottenham Hotspur. Last month, MSP reportedly held preliminary discussions for a minority stake in Everton.

The takeover would value the Premier League club at $3 billion and add $750 million in debt to the team’s books. Forbes last valued Tottenham — which reported $534 million in revenue in the fiscal year ending June 2022 — at $2.35 billion.

The Financial Times reported that Najafi is working with a consortium of investors to present a formal bid in the coming weeks. 

  • MSP would put forward 70% of the bid. 
  • Investors from the Gulf, mainly from Abu Dhabi, would take care of the other 30%.

MSP already has stakes in the X Games, McLaren Racing, and several other soccer teams including Portugal’s Estoril Praia, Spain’s AD Alcorcon, Belgium’s SK Beveren, and Germany’s FC Augsburg.

Current Ownership

ENIC Group, which is owned by British billionaire Joe Lewis, purchased a stake in Tottenham in 2000. Businessman Daniel Levy serves as the club’s chairman and has reportedly indicated he wouldn’t like to stay on if new ownership comes in.

Fans have criticized the club’s current ownership over on-the-field performance.

Sports Betting

FanDuel’s Parent Considers U.S. Public Listing

Albert Cesare / USA TODAY NETWORK

FanDuel’s parent company is interested in going public.

On Tuesday, Flutter Entertainment said its board is consulting with shareholders to gauge their interest in a listing on the U.S. stock exchange. The company’s board reached the view that “an additional U.S. listing of Flutter’s ordinary shares will yield a number of long-term strategic and capital market benefits,” according to the Financial Times.

After consulting shareholders, the company would take a vote at its annual meeting in April, requiring 75% approval.

Flutter’s stock is traded in Europe. The Ireland-based company said a public listing would allow the company to expand its profile in the U.S., helping attract and retain talent.

  • The U.S. is now Flutter’s largest country by revenue
  • FanDuel, which makes up the biggest segment of Flutter’s overall business with $3 billion in annual revenue, leads the nation’s sports betting market.

Flutter also owns Paddy Power and Betfair.

FanDuel’s Favor

Flutter acquired FanDuel, which was reportedly valued at $22 billion in November, in 2018 for $158 million. 

During the Super Bowl, FanDuel accepted 50,000 bets per minute at its peak and averaged 2 million active users during the game. It expects to be profitable by its full-year 2023 earnings.

Retail

Super-Agent Rich Paul Launches Klutch Athletics with New Balance

Klutch Athletics

One of the NBA’s most powerful agents is getting into athletic apparel.

On Wednesday, Rich Paul announced the creation of Klutch Athletics — a new Black-owned apparel brand “co-authored” with New Balance.

“There’s a gap right now that we can fill — creating training product that is functional, but with style,” Paul said in a news release. “We’ve seen other brands moving away from youth sports and training, so we’re focused on bringing the new look of training for the next generation. And there’s no one better than New Balance to build this with.”

The clothing line — which New Balance emphasizes is not a one-off collaboration — seeks to provide for athletes across youth, collegiate, and professional sports.

  • The apparel’s color palette will draw from New Balance’s range of grays with a green accent representing the field of play.
  • “We designed the line to help athletes perform their best and look good while doing it,” said New Balance Chief Design Officer David Creech. “It will deliver products for all athletes, regardless of sport or gender.”

Klutch Athletics apparel will be available for purchase online and in select retailers starting April 27. T-shirts will carry a $40 suggested retail, while hoodies will be $120.

New Balance Renaissance

Klutch Athletics is the latest in New Balance’s cultural resurgence.

In late January, the athletic apparel company signed baseball superstar Shohei Ohtani to a long-term endorsement partnership.

The Boston-based company also recently launched the third edition of Kawhi Leonard’s signature shoe, the KAWHI III.

Conversation Starters

  • The first four episodes of “Power Slap” have averaged 275,000 viewers, and UFC president Dana White has called the show “a winner.”
  • Johnson vs. NCAA began oral arguments on Wednesday. The federal class-action case sees a group of athletes suing several schools and the NCAA for the right to be considered university employees.
  • Despite competing with the Super Bowl’s second-highest TV audience ever, other sports’ broadcasts on Sunday brought in millions of viewers.

What to Watch

The Colorado Avalanche (28-19-5) take on the Minnesota Wild (28-20-5) on Wednesday at Xcel Energy Center.

How to Watch: 9:30 p.m. ET on TNT

Betting Odds: Wild -1.5 || ML -140 || O/U 6

Win A Vegas VIP Hoops Package

We have teamed up with the Pac-12 Conference to provide a VIP experience to the Pac-12 Men’s Basketball Tournament in Las Vegas from March 8 to March 11, 2023.

One lucky winner will receive two (2) all tournament passes with club access to the tournament at T-Mobile Arena. The winner will also receive a hotel room at an MGM Resorts property for four (4) nights in Las Vegas, a $300 food and beverage voucher valid at MGM restaurants, and two (2) tickets to Cirque du Soleil’s Mad Apple show. For more information on the Pac-12 Men’s Basketball Tournament, visit Pac-12.com. Deadline for entry is February 22, 2023. See Official Rules for details.

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