February 21, 2023

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FOS is teaming up with the Pac-12 to give you the VIP experience at the Pac-12 Men’s Basketball Tournament in Las Vegas from March 8-11. One lucky winner gets two all-tournament passes, a four-night stay at an MGM Resorts hotel, and much more. Get all the details here [[link removed]].

Leagues NBA Teams Drawing Interest From Qatar, Abu Dhabi [[link removed]]

Vincent Carchietta-USA TODAY Sports

The NBA has opened the door to sovereign wealth funds — and some of the world’s biggest want to buy in.

Qatar Investment Authority and Abu Dhabi’s fund Mubadala Capital have both shown interest in NBA teams, according [[link removed]] to Bloomberg. The funds have a respective $450 billion and $284 billion in assets under management.

The league’s board of governors voted in December to allow sovereign wealth funds to buy up to 20% of a team, subject to league approval.

The New York Knicks could be a potential match. The team has signaled openness to selling a minority stake and has a connection to Abu Dhabi through Mubadala’s investment in equity group Silver Lake, which is an investor in Knicks owner Madison Square Garden Sports.

The NBA is also planning multiple preseason games in Abu Dhabi this September.

Last year, Mubadala bought 20% of the media rights of the Brazilian Football League for $971 million and invested $50 million in the Supercross World Championship. Meanwhile, the QIA helped fund the 2022 World Cup and owns French soccer giants Paris Saint-Germain.

NBA teams have already welcomed private equity investors, which can own up to 30% of individual teams. The San Antonio Spurs, Sacramento Kings, and Golden State Warriors are among those teams part-owned by private equity firms.

Deals Vince McMahon Reportedly Wants $9B for WWE [[link removed]]

Joe Camporeale-USA TODAY Sports

When Vince McMahon decided to reinstate [[link removed]] himself as executive chairman of WWE in January, after resigning due to sexual misconduct allegations over the summer, he had one thing in mind: Maximize WWE’s value as the entertainment brand explores an acquisition.

On Friday, Bloomberg reported [[link removed]] that the 77-year-old is seeking at least $9 billion for the empire, and he may have suitors lined up to take him up on his request.

Front Office Sports previously reported Saudi Arabia’s Public Investment Fund [[link removed]] leads the list of possible bidders for the WWE. The deep-pocketed fund has upended the golf industry with its financial backing of rebel LIV Golf’s challenge to the PGA Tour.

But the Saudis will have plenty of competition if they want the WWE. According to Bloomberg, other bidders could include Endeavor Group, which bought a controlling interest in the UFC for $4 billion in 2016, Amazon, and Disney.

Also potentially in play are Comcast’s NBCUniversal Media and Fox Corp., which already boast media deals for “Monday Night Raw” and “Friday Night Smackdown,” respectively.

SPONSORED BY TEMPLE UNIVERSITY'S STHM

How NIL Is Impacting College Education in Sports

Since the NCAA passed its landmark ruling in July 2021 allowing college athletes to profit off their Name, Image and Likeness (NIL) the impact has been great and far reaching.

One area within this new frontier that has not been widely discussed, however, is how universities are creating opportunities within the classroom to learn more about NIL.

In our latest webinar, Owen Poindexter (Front Office Sports) sits down with professors Thilo Kunkel and Amy Giddings (Temple University), along with recent graduate and current NIL Agent, Matt Lupi, to discuss The NIL Effect: Inside & Outside the Classroom [[link removed]].

Learn how Temple’s School of Sport, Tourism and Hospitality Management (STHM) is leading NIL research, reimagining course curriculum, and giving students new tools to pursue a career in the ever-changing, billion-dollar industry of sports.

Register now [[link removed]].

Teams Liverpool FC Owner Says Club Not for Sale [[link removed]]

Liverpool FC

One of the Premier League’s most storied clubs had reportedly been on the market [[link removed]] for months, but it looks like Fenway Sports Group will hold onto majority control of Liverpool FC.

Liverpool principal owner John W. Henry has ruled out a full franchise sale, but said that FSG will have conversations with suitors about possibly selling a minority stake in the club.

Speaking with Boston Sports Journal [[link removed]] before the start of Boston Red Sox spring training, the owner discussed the chatter surrounding the football club.

“Yes. I know there has been a lot of conversation and quotes about LFC, but I keep to the facts: We merely formalized an ongoing process,” Henry said. “Will we be in England forever? No. Are we selling LFC? No. Are talking with investors about LFC? Yes. Will something happen there? I believe so, but it won’t be a sale.”

A stake sale was discussed with the Qatar Investment Authority, but the sovereign wealth fund would reportedly prefer to hold a controlling stake in Liverpool rather than a minority one.

FSG also owns the Boston Red Sox, Fenway Park, the Pittsburgh Penguins, RFK Racing, and the regional sports network NESN.

World Brisbane Gets $4.9B Infrastructure Budget for 2032 Olympics [[link removed]]

IOC

Brisbane has big plans ahead of hosting its first Olympics.

On Friday, the Australian federal government and Queensland state government announced [[link removed]] that they would spend a combined $4.9 billion on infrastructure before the city hosts the 2032 Summer Olympics.

The federal government will provide $1.7 billion to construct the proposed 17,000-seat Brisbane Arena, while the state will add $1.9 billion to renovate the Gabba Cricket Ground.

The remaining $1.3 billion will be used to build new venues or upgrade existing ones — Queensland premier Annastacia Palaszczuk says the state already has 80% of the venues needed to host the Games.

Brisbane was awarded [[link removed]] the 2032 Games in July 2021. It will be the third Australian city to host an Olympics after Melbourne in 1956 and Sydney in 2000.

“I know, as a Sydneysider, the difference that a Games can make, and here in Queensland, this will consolidate this great city as a global city, as a global powerhouse,” prime minister Anthony Albanese said [[link removed]] at a press conference.

This summer, Australia will co-host the FIFA Women’s World Cup with neighboring New Zealand. Over a half-million [[link removed]] tickets have already been sold for the event.

SPONSORED BY PARAMOUNT+

UEFA Champions League on Paramount+

The first leg of the Round of 16 [[link removed]] finishes with marquee matchups today and tomorrow!

Today’s headliner is a rematch of last season’s final with Liverpool looking to avenge the 1-0 loss against Real Madrid that saw them miss out on a trophy. On Wednesday, Erling Haaland and Manchester City travel to Germany to take on Leipzig as their knockout stage gets underway.

Kick off for all four matches is 3 p.m. ET. Stream every match throughout the tournament live exclusively on Paramount+ [[link removed]]. Try it free for a month with promo code: ADVANCE!

Conversation Starters Nobody’s had a better week [[link removed]] than the NBA’s 2023 Slam Dunk Contest winner Mac McClung. Find out how beach volleyball star Kerri Walsh Jennings became an entrepreneur and what she learned as a first-time CEO in the latest episode [[link removed]] of Driven With Michelle Wie West.* NASCAR dominated American motorsports for years. Now it has competition [[link removed]]. From the wildest passes and the biggest dunks to the final serve, Atmosphere Sports is streaming sports back to the center with live scores, highlights, and more. Learn more [[link removed]].* Front Office Sports Today They Said What?

Kelley L Cox-USA TODAY Sports

“We are running out of time, and we really need to have a solution. This has been going on for almost 20 years in Oakland, trying to find a ballpark for the A’s.”

-Oakland A’s president Dave Kaval on exploring Las Vegas as a future home for the MLB club.

Listen to Front Office Sports Today on Apple [[link removed]], Google [[link removed]], and Spotify [[link removed]].

Today's Action

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Blues (+275) at Hurricanes (-330)

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Maple Leafs (-170) at Sabres (+145)

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Ducks (+400) at Lightning (-500)

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Question Of The Day

Do you own or rent your current residence?

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Friday’s Answer

49% of respondents plan on watching at least some of the Women’s March Madness college basketball tournament.

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