March 23, 2023

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There will be a lot to talk about when Angels owner Arte Moreno meets with Anaheim mayor Ashleigh Aitken over the future of the team’s ballpark. On the latest episode of Front Office Sports Today, we discuss the ongoing saga, then talk to MLS Next Pro president Charles Altchek about the future of American pro soccer.

Listen and subscribe on Apple [[link removed]], Google [[link removed]], and Spotify [[link removed]].

Teams Manchester United Extends Sale Deadline, New Bidder Emerges [[link removed]]

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The Manchester United sale saga will last at least a bit longer — and may have a new protagonist.

The Raine Group, the New York-based investment bank handling the sale of the legendary club, had set a deadline of 9 p.m. Manchester local time on Wednesday for any interested parties to submit bids — only to extend the deadline to an unspecified time in the closing hours, per multiple reports.

It’s reportedly [[link removed]] unclear which of the two central finalists — Qatar’s Sheikh ­Jassim bin Hamad Al Thani and British billionaire Jim Ratcliffe — asked for the extension first. Flexibility talks appear to have taken place at least 24 hours before the initial deadline.

Sheikh Jassim and Ratcliffe were reportedly set to submit [[link removed]] bids in excess of $6.2 billion — a world-record sale price for a sports team. There were projected to be up to eight offers for the club, though not all were for outright ownership.

The deadline extension has also opened the door for a new bidder to enter the fray: On Thursday, Finnish entrepreneur Thomas Zilliacus announced his bid for Man United.

In a phone interview with Bloomberg [[link removed]], Zilliacus would not disclose the value of his offer, but said he had the means to finance “whatever the number is that we agree to.” He also expressed a desire to meet the Glazer family closer to their initial asking price for the club.

“I am not surprised if they say they won’t sell for less than £6 billion ($7.4 billion),” said Zilliacus.

Teams MLB Team Values: There’s the Yankees and Then Everybody Else [[link removed]]

Wendell Cruz-USA TODAY Sports

Baseball’s media ecosystem is undergoing huge changes, but that hasn’t stopped team values from soaring.

The New York Yankees’ lofty perch became even loftier as the team’s valuation rocketed [[link removed]] 18% from last year to $7.1 billion, per Forbes’ latest tally.

Using 2022’s NFL team valuations, that would make the Yankees the second-most valuable sports team in the world after the $8 billion Dallas Cowboys.

After the Yankees, there’s a steep dropoff to the second-place Los Angeles Dodgers ($4.8 billion), followed by other major-market teams like the Boston Red Sox ($4.5 billion), Chicago Cubs ($4.1 billion), and San Francisco Giants ($3.7 billion).

The bankruptcy of Diamond Sports Group, which broadcasts 14 MLB teams, presents challenges for many teams outside the biggest media markets. The top teams are generally insulated from that issue — many have standalone sports networks, such as the Yankees’ YES Network.

The average team value grew 12%, despite 10 teams registering an operating loss — led by the free-spending New York Mets (sixth at $2.9 billion), who took a $138.5 million hit.

Success on the field was rewarded as well: The Seattle Mariners, who made the playoffs last year for the first time since 2001, saw their valuation leap 29% to $2.2 billion.

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The Upside to the Sports Betting Market

The sports betting market [[link removed]] had about $3.8 billion in revenue in 2021 and will grow to almost $6 billion by the end of 2023. Needless to say, there is massive upside for the industry.

In the same way fantasy sports changed the sports business by engaging fans in player performance outside of their favorite teams, U.S. sports betting will engage a new generation of fans, generating billions in betting revenue, and millions in additional ad and sponsorship revenue.

Live and in-game betting opportunities for fans are creating new levels of engagement. Micro-betting should play a huge role in the adoption of sports betting as real-time content delivery and the Artificial Intelligence capabilities required to quickly deliver smart betting opportunities to fans matures.

For more on the impact of Sports Betting on the sports technology industry, download Next League [[link removed]]’s report exclusively on this topic here [[link removed]].

Deals Potential Sale of Charlotte Hornets Remains Uncertain [[link removed]]

Kyle Terada-USA TODAY Sports

Michael Jordan’s management company didn’t add much clarity to last week’s report that the NBA legend wants to offload his majority stake in the Charlotte Hornets.

ESPN reported [[link removed]] that Jordan was in serious talks to sell his controlling interest in the franchise he acquired for $275 million in 2010 to a group led by Hornets minority owner Gabe Plotkin.

The Hornets haven’t made a public statement since the story was published last Thursday.

But on Wednesday, Jump Management issued a statement about the discussions.

“Four years ago, Michael Jordan sold a stake in the Charlotte Hornets to a Gabe Plotkin-led group,” the statement [[link removed]] noted. “As a natural step in a process due to that transaction, Michael and Gabe are in discussions about his group potentially buying an additional stake. At this time, it is unclear whether an additional sale will take place.”

Plotkin, founder of Melvin Capital, and D1 Capital founder Daniel Sundheim in 2019 bought the minority stake from Jordan in 2019.

ESPN reported the deal was imminent and that Jordan was expected to keep a minimum stake.

The Hornets are valued at $1.7 billion — the 27th-most-valuable of 30 NBA teams, according to Forbes [[link removed]].

Conversation Starters MLB is turning to Hollywood heavy hitters Bryan Cranston and Sebastian Maniscalco for a new ad campaign advocating for the league’s new rule changes, which, as Front Office Sports senior writer Michael McCarthy explains [[link removed]], are designed to streamline games. Michigan State vs. Marquette was the most-watched [[link removed]] men’s March Madness game through the first two rounds at 10.9 million viewers — over a million more than the next-closest, Arkansas vs. Kansas, which drew an audience of 9.5 million. Utah Valley’s president, Dr. Astrid Tuminez, went above and beyond [[link removed]] supporting her school at its men’s basketball team’s first nationally televised game, an NIT quarterfinal win over Cincinnati.

SPONSORED BY SPONSORUNITED

The NIL Effect

The NIL industry [[link removed]] has exploded in the nearly two years since the NCAA’s landmark decision to allow college athletes to profit off of their name, image, and likeness.

Since then, brands have partnered with athletes, universities are building out infrastructure and educational programs and new trends have emerged.

Join Front Office Sports on March 28 at 1 p.m. ET for an inside look at NIL — and what’s next for college sports, athletes and brands. The virtual event [[link removed]], presented by SponsorUnited, will cover:

How brands are creating partnerships and standing out in a changing NIL landscape. An inside look at collectives and how they have grown to become an essential part of college athletics economics. What brands and athletes need to know to build successful partnerships.

Grab your spot and register now [[link removed]]!

What to Watch

The Arkansas Razorbacks will take on the Connecticut Huskies in the NCAA men’s West Region semifinal at T-Mobile Arena in Las Vegas on Thursday night.

How to watch: 7:15 p.m. ET, CBS

Betting odds: Razorbacks +4 || ML Razorbacks +155 || O/U +139.5

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