Also: Manchester United bidders to reportedly meet with the club for the first time. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌
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Formula 1 kicks off its 2023 season with the Bahrain Grand Prix on Sunday — at a time when the sport’s popularity is surging in America. Senior writer Owen Poindexter discusses how teams are racing to capture the U.S. audience. Plus — Troy Aikman sits down with Front Office Sports to talk about his first year at ESPN, Tom Brady calling games, and more in the latest episode of Front Office Sports Today.

Listen and subscribe on Apple, Google, and Spotify.

Teams

RFK Stadium May Be in Play for Washington Commanders

Patrick McDermott-USA TODAY Sports

There’s still a chance the Washington Commanders could call RFK Stadium home.

NFL commissioner Roger Goodell told Washington, D.C., Mayor Muriel E. Bowser in December that the league supported her efforts to obtain the venue from the federal government as he wants D.C. to be involved, according to the Washington Post. 

Goodell also reportedly offered lobbying assistance from the league.

The Commanders played at RFK Stadium in Washington, D.C., for 36 seasons before moving to FedEx Field in Maryland in 1997.

“The league and Mayor Bowser agree that Washington, D.C., should be at the table when a new site is considered,” an NFL spokesperson said. 

“We will continue to work with the mayor’s office, the Commanders, and Congress to that end — just like we are in contact with local officials in Maryland and Virginia as they review site and stadium options.” 

Last year, Maryland proposed a $400 million package to improve the area surrounding FedEx Field, which would not include a new stadium.

The stadium discussions come as Dan Snyder looks to sell the team. Sources previously told Front Office Sports he’s seeking $7 billion in a sale, and was disappointed when the highest bid in the first round of bidding in December was $6.3 billion.

Amazon founder Jeff Bezos, Philadelphia 76ers owner Josh Harris, and Houston Rockets owner Tilman Fertitta are all reportedly interested in the team.

Teams

Manchester United Bidders to Meet With Club

Manchester United FC

Bidders for Manchester United are expected to hold first meetings with the team in the next couple weeks to discuss the sale of the Premier League club.

Qatari Sheikh Jassim bin Hamad Al Thani and British billionaire Jim Ratcliffe’s INEOS have the only two public bids, with the former interested in a full takeover and the latter reportedly interested in a 69% stake. 

The initial bid proposals, which had a soft deadline of Feb. 17, reportedly only required the amount of their bid and proof of funds.

If no deal is reached by the season’s end, any potential sale may be in jeopardy, according to The Guardian. 

It’s been reported that the Glazers — who purchased the team for $942 million in 2005 and have been heavily criticized for their ownership — are holding out for a price of around $7.2 billion, but the two bids reportedly aren’t more than roughly $5.4 billion. 

Forbes last valued the club at $4.6 billion.

Elliott Management, Ares Management, and Oaktree Capital have all reportedly offered funding to bidders.

Joel and Avram Glazer are thought to be reluctant to sell, according to The Athletic, but are unable to buy out the other four family members who do not want to sell.

Markets

Xponential Fitness Revenue Surges 58%

Xponential Fitness

The owner of Pure Barre, Club Pilates, Rumble, and Cyclebar had another impressive year.

Xponential Fitness, which claims it’s the largest global franchisor of boutique fitness brands, reported a 44% year-over-year increase in fourth-quarter revenue to $71.3 million and a 58% increase in full year revenue to $245 million.

The company posted a net loss of $400,000 for the three months that ended Dec. 31, 2022. For the year, Xponential Fitness reported net income of $2.9 million. 

“During 2022, we opened a new studio approximately every 17 hours, and system-wide sales surpassed $1 billion for the first time,” said Anthony Geisler, Xponential Fitness CEO.

Xponential sold 1,026 franchise licenses and opened 511 new studios during the year and had double-digit growth in same-store sales and memberships. In North America, system-wide sales jumped 46% to $1.03 billion.

In January, Xponential’s membership base reached 600,000.

For 2023, Xponential Fitness expects revenue to land between $285 million and $295 million, up 18%, and system-wide sales in North America to reach between $1.34 billion to $1.35 billion, up 30%. 

It also anticipates new studio openings in the range of 540 to 560 — an 8% increase.

Conversation Starters

  • Rosalyn Durant is emerging as one of the most powerful Black women in sports after a sweeping reorganization at Walt Disney Co.’s ESPN that makes her executive vice president of programming and acquisitions. 
  • The Indiana University athletic department reportedly received $38 million as part of a gift to the university from the IU Foundation.
  • Demolition has begun on the Carolina Panthers’ failed $800 million headquarters in Rock Hill, South Carolina.

What to Watch

The Memphis Grizzlies (38-23) take on the Denver Nuggets (44-19) at Ball Arena on Friday.

How to Watch: 10 p.m. ET on ESPN

Betting Odds: Nuggets -5 || ML -195 || O/U 234

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