March 22, 2023
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The first two rounds of March Madness are history. In the latest episode of Front Office Sports Today, we break down the highlights of the men’s and women’s NCAA tournaments so far — and chat with ESPN analyst Jay Williams on his playing career, working with Stephen A. Smith, and the current media landscape.
Listen and subscribe on Apple [[link removed]], Google [[link removed]], and Spotify [[link removed]].
Teams Manchester United Finalists Submit Record Bids at Deadline [[link removed]]
Manchester United
Qatar’s Sheikh Jassim bin Hamad Al Thani and British billionaire Jim Ratcliffe have reportedly submitted world-record bids at Wednesday’s deadline to purchase Manchester United from the Glazer family.
Sky Sports reports [[link removed]] that Sheikh Jassim is submitting a bid in excess of $6.2 billion, while the Financial Times reports [[link removed]] that Ratcliffe is doing the same. Some sources [[link removed]] are pegging both bids at around $6.8 billion.
Either way, if the Glazers accept one of the two, it would far eclipse the world record for a sports team purchase set last summer [[link removed]] when Rob Walton bought the Denver Broncos for $4.65 billion.
The new sky-high bids for United would still fall short of the $7.2 billion valuation the Glazers said they were looking for when they began exploring a sale of the club — but they’re still more than the reported first bids, which came in around $5.5 billion.
Sheikh Jassim and Ratcliffe made visits to Old Trafford last week [[link removed]] and began preparing [[link removed]] their next round of bids after walking away from the grounds with positive momentum.
They may have some company, however: Sky also reports that there will be at least five bids and as many as eight in total — though not all seek to buy the club outright. In fact, at least half will be for a minority stake or financing options for other parties.
Markets Nike Q3 Earnings Solid Despite Supply Chain Shortages [[link removed]]
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Nike posted a solid increase in third-quarter revenue driven by robust demand in North America.
But the company’s net income fell amid the financial impact from inflation, supply chain shortages, and Russia’s invasion of Ukraine.
The Swoosh announced encouraging results for its fiscal third quarter ending Feb. 28.
Revenues rose 14% from the year prior to $12.4 billion. North American revenue rose double-digits, but revenue from China dropped 8% due to a change in the nation’s COVID policies. Net income slid 11% to $1.2 billion. Diluted earnings per share were $0.79, off 9%. The Nike brand’s digital sales were another strong point, rising 20%.
The Swoosh’s third-quarter results topped analyst expectations, noted [[link removed]] CNBC, and could’ve been even better if not for the global supply chain crises.
Nike told financial analysts it would’ve had a stronger holiday selling season had there been enough merchandise [[link removed]] on hand. To tackle the problem, it’s moving up buying timelines.
But with so much global uncertainty, Nike held off on giving an outlook for the year.
“We are focused on what we can control,” said Matthew Friend, Nike’s chief financial officer, on a post-earnings conference call. “There are several new dynamics creating higher-levels of volatility.”
PRESENTED BY PITCHBOOK
Bringing the NWSL to the Bay
When Leslie Osborne [[link removed]] learned that Los Angeles would be getting its very own NWSL team – now Angel City FC – she knew if L.A. was getting a team, she had to do everything she could to bring a team to the Bay Area.
So for the last two and a half years, Osborne and her co-leaders of #NWSLToTheBay have been partnering with investors in Silicon Valley to make this dream a reality.
In the third and final episode of Driven with Michelle Wie West [[link removed]], in partnership with PitchBook, learn about Osborne’s experience attracting investors, raising funds, and bidding for an NWSL expansion team. Plus, Osborne’s own experience as an entrepreneur of Hustle Beauty and as an angel investor.
Watch the full episode [[link removed]] now.
Athletes Shohei Ohtani’s Legend, Future Asking Price Grow at WBC [[link removed]]
Sam Navarro-USA TODAY Sports
You couldn’t script a better ending to a game-changing [[link removed]] World Baseball Classic — or for its MVP.
With two outs in the top of the ninth of a one-run championship game between the U.S. and Japan, Mike Trout stepped into the box to face Los Angeles Angels teammate Shohei Ohtani.
After working the count full with multiple 100-mph fastballs, Ohtani put Trout away with a killer slider for the save, lifting Japan to its third WBC title — two more than any other nation.
The Japanese phenom — who finished the WBC hitting .435 with a 1.345 OPS, four doubles, and a homer while pitching a 1.86 ERA with a 0.72 WHIP and 11 strikeouts in 9.2 innings — was awarded tournament MVP.
His triumph will only amplify speculation as to where he could sign as a free agent in 2024, assuming the Angels again fail to capitalize on his generational talent.
The 2021 American League MVP will make $30 million this year — the largest salary ever for an arbitration-eligible player.
This season, MLB’s top-paid pitchers, Max Scherzer and Justin Verlander, will each make $43.3 million. The top hitter, Aaron Judge, will make $40 million.
Considering Ohtani’s immense talent on both sides of the ball, a record salary extrapolated over a long-term contract could easily make him baseball’s first $500 million man.
Teams in the mix could include [[link removed]] the big-spending New York Mets, Los Angeles Dodgers, San Diego Padres, and New York Yankees.
Conversation Starters Canadian billionaire and founder of Six Ventures Inc. Steve Apostolopoulos has entered [[link removed]] the bidding for the Washington Commanders, per ESPN, after touring the team’s stadium and facility. Team USA’s starting lineup [[link removed]] for its loss to Japan in the World Baseball Classic Final is worth $1.7 billion. The Cleveland Guardians hosted [[link removed]] a high school graduation ceremony for 32 of the team’s players who finished their education while playing.
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Each course includes video lessons followed by a brief quiz and provides a deep understanding from top brands and experts in the field across various subjects. Upon completion, you’ll earn a digitally verified badge to share on social media.
Check out the current course lineup, which includes:
Metaverse Essentials: Building the Future [[link removed]] Crypto in Sports Essentials [[link removed]] Modern Ticketing Essentials: Beyond the Ticket [[link removed]] Athlete Marketing Essentials: NIL Certification [[link removed]] Sports Marketing Essentials [[link removed]]
With online learning, you can manage lessons at your own pace, on your own time.
Enroll now [[link removed]].
PRESENTED BY POINTSBETWhat to Watch
The Golden State Warriors will take on the Dallas Mavericks at American Airlines Center on Wednesday night.
How to watch: 7:30 p.m. ET, ESPN
Betting odds [[link removed]]: Warriors -1.5 || ML Warriors -122 || O/U 228.5
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