March 10, 2023
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After its legalization [[link removed]] in August and a lengthy preparation period, online sports betting is officially live in Massachusetts. The state carries a “very competitive” sports betting tax rate of 15% in-person and 20% online.
Teams Potential Qatari Buyer Won’t ‘Overpay’ for Manchester United [[link removed]]
Manchester United FC
If the Glazers want to sell Manchester United to Qatari Sheikh Jassim bin Hamad Al Thani, they’ll need to lower their price tag.
Sky Sports reported [[link removed]] that Sheikh Jassim is willing to buy the Premier League club, but won’t overpay.
The Glazers are reportedly looking to sell for around $7.2 billion, a significant jump from its $4.2 billion valuation by the New York Stock Exchange and a $4.6 billion valuation from Forbes.
Sheikh Jassim is reportedly only open to a full takeover of Manchester United, but there’s been speculation that the Glazers are only open to selling a minority stake. When the family hired the Raine Group in November, they said they were looking at alternative strategies.
It was reported [[link removed]] earlier this month that the team’s staff is expected to receive “clarity” on its ownership situation before the season ends in May. Days before, it was reported that a sale could be in jeopardy if a deal wasn’t reached by that time.
Sky Sports claimed that at least three bidders have been invited to Manchester in the coming weeks for meetings and access to financial information. The only other public bid is a consortium led by British billionaire Jim Ratcliffe.
Law Former Fox Exec Convicted in FIFA Bribery Case [[link removed]]
FIFA
A former Fox exec faces up to 40 years in prison after Thursday’s verdict by a Brooklyn federal jury in a bribery trial that saw jurors acquit another former network official.
Hernan Lopez, the ex-CEO of Fox International Channel, was found guilty of wire fraud and money-laundering charges related to a scheme that funneled millions of dollars to soccer officials to bolster Fox’s chances of securing World Cup and other soccer media rights.
Carlos Martinez, the head of another Fox subsidiary, was acquitted at the conclusion of the same seven-week trial.
The verdict was the latest twist in a federal corruption investigation into international soccer that led to the ouster of longtime FIFA president Sepp Blatter [[link removed]] after the first indictments were unsealed in 2015.
More than 50 defendants have been charged from around the globe, with more than 30 [[link removed]] guilty pleas by individuals and corporations.
At the same trial, Full Play Group S.A. was also convicted for its role in a conspiracy that alleged the Argentine sports marketing company paid bribes to acquire media and marketing rights for Copa America and World Cup qualifying matches. The firm, like Lopez, faces millions in financial penalties.
“The defendants cheated by bribing soccer officials to act in their own greedy interests rather than in the best interests of the sport,” said U.S. Attorney for the Eastern District of New York Breon Peace. “The verdict … reflects this office’s ongoing commitment to rooting out corruption at the highest levels.”
Fox Corp. was not implicated in the case.
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Markets Genius Sports Reports Mixed Results for Quarter [[link removed]]
Genius Sports
Genius Sports’ revenue increases didn’t save it from more than doubling its net loss for the quarter.
The technology company reported [[link removed]] a 25.4% year-over-year increase in fourth-quarter group revenue to $105.3 million, but widened its group net loss by 129.7% to $127.7 million from $53.3 million.
Its betting technology, content, and services segment recorded a Q4 revenue increase of 21.5% to $65.5 million. Revenue for the media technology, content, and services segment jumped 50.4% to $25.6 million, in addition to a 8.6% increase to $14.2 million for the sports technology and services segment.
During the three months ending Dec. 31, 2022, Genius launched NFL “Watch & Bet” video streams in the U.S. and Canada, extended its partnership with bet365, developed “In-Play MultiBet” for players to place same-game parlays, and launched a three-point shot tracker for the NBA on ESPN.
For the full year, Genius reported a 29.8% increase in group revenue to $341 million.
Revenue rose 18.1% for its betting technology, content, and services segment to $209.3 million, 71.2% for its media technology, content, and services segment to $82.7 million, and 31.9% for its sports technology and services segment to $49.1 million.
Genius expects group revenue for 2023 to reach $341 million.
Conversation Starters Preparing to return as head coach of the Carolina Panthers, Frank Reich recently closed [[link removed]] on a 7,637-square-foot estate for $3.45 million in Charlotte’s Foxcroft neighborhood. The New York Jets flew [[link removed]] to Malibu to pitch Aaron Rodgers on a stint in green, paying a visit to his $28 million mansion. The Czech Republic’s World Baseball Classic team, which upset [[link removed]] China on Thursday night, is the only squad of non-professional ballplayers. Their ranks include firefighters, sales reps, and a high school geography teacher — and their manager is a neurologist.
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The Pickleball Club will open its first club in Sarasota, FL in April, and it’s second in Port St. Lucie is under construction. Their plan for Florida alone includes 15+ clubs. Now is the time to invest in the future of pickleball [[link removed]] and The Pickleball Club is leading the way.
What to Watch
The Kansas Jayhawks (26-6) take on the Iowa State Cyclones (19-12) on Friday in one of the Big 12 conference tournament semifinals at T-Mobile Center.
How to Watch: 7 p.m. ET on ESPN
Betting Odds: Jayhawks -4.5 || ML -195 || O/U 130
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