October 26, 2021

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Fanatics stunned the trading card world when it announced licensing deals across MLB, NBA, and the NFL back in August. Now we know why the NHL was missing: They’ve agreed to a long-term extension with Upper Deck to be their exclusive trading card producer.

Bezos Reportedly Not Interested in Buying Denver Broncos

Ron Chenoy-USA TODAY Sports/Design: Alex Brooks

Should the Denver Broncos hit the market in 2022, they likely won’t be sold to the world’s second-richest person.

Jeff Bezos, who recently stepped down as Amazon CEO, is reportedly not interested in buying the NFL team. Bezos, who is worth $193.8 billion as of Monday, is second only to Elon Musk ($247.8 billion) in net worth.

The Broncos ownership situation has been in flux since 2014, when previous owner Pat Bowlen surrendered control of the team to a trust that would either sell the team or pass it along to one or more of his seven children. Bowlen passed away in June 2019.

A potential sale of the team was stalled until July, when a judge dismissed a lawsuit brought by two of Bowlen’s daughters, Amie Bowlen Klemmer and Beth Bowlen Wallace, who claimed that the trustees had unduly influenced their father.

  • While the team is not currently for sale, Front Office Sports reported in September that internal differences in the family could lead to an ownership transition.
  • The price for the Broncos is predicted to be around $4 billion.
  • Bezos had previously looked into purchasing 40% of the Washington Football Team and is reportedly still interested in NFL ownership.

New England Patriots owner Robert Kraft and Dallas Cowboys owner Jerry Jones have both been vocal in their support for Bezos joining their ranks as team owners, with Jones claiming in 2018 that he’d “carry [Bezos] piggyback to get him to the NFL.”

CVC, Mogul Buy New IPL Teams for Combined $1.7B

BCCI/Design: Alex Brooks

CVC Capital Partners and RPSG, a conglomerate owned by business mogul Sanjiv Goenka, have paid a combined $1.7 billion to win bids for two new Indian Premier League teams.

The cricket league is expanding from eight to 10 teams for the 2022 season.

  • India’s Board of Control for Cricket expected a combined bid of $1.3 billion.
  • CVC shelled out roughly $736 million for the Ahmedabad franchise.
  • RPSG paid about $964 million for the Lucknow team.

“We had bids from different parts of the world and from parties with diverse portfolios wanting to make a foray into the world of sports,” said IPL chairman Brijesh Patel. 

The bids included Manchester United and Tampa Bay Buccaneers owners Kevin and Edward Glazer, who offered less than $688 million for the Ahmedabad team. 

  • CVC has stakes in La Liga, United Rugby Championship, Six Nations Rugby, and the International Volleyball Federation.
  • RPSG owned the IPL’s now-defunct Rising Pune Supergiant franchise from 2016-17, replacing the Chennai Super Kings and Rajasthan Royals after their respective owners received two-year bans for illegal betting. 

A new combined company that comprises Sony India and Zee Entertainment is reportedly bidding for IPL media rights. Star India purchased rights for $2.6 billion in a five-year deal in 2017. The new asking price is estimated to increase by 25%.

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5G is Taking Fandom to New Heights

T-Mobile is changing the MLB fan experience, and they’re doing it in a way you probably wouldn’t expect: With 5G wireless.

The Un-carrier has been exploring advanced technology powering all kinds of new fan engagement plays at the eponymous T-Mobile Park — we’re talking everything from augmented reality experiences that put you in the game, to first-person cameras that let you see everything from the players’ perspectives, to holograms that let you interact with players and virtual fireworks that celebrate every home run. 

At the core of all these innovations is T-Mobile’s 5G wireless network. Independently verified as the largest, fastest, and most reliable 5G network in the U.S., T-Mobile is rapidly showing fans worldwide how technology can power experiences they never thought possible. 

Read the full article here.

More Than 100 Soccer Clubs Line Up for $2.3B Credit Line

UEFA/Design: Alex Brooks

Up to 100 European soccer clubs are lining up for a credit facility that UEFA is setting up to help teams recover financially from the pandemic.

European soccer’s governing body is finalizing a $2.3 billion credit line that will initially help clubs pay for unsettled transfer fees. Those fees typically go to lower-revenue clubs renting out players to more lucrative squads in leagues higher up the pyramid.

  • The credit facility is the first step in a three-part plan that seeks to stabilize European soccer’s long-term financial picture.
  • UEFA plans to set up a separate fund to buffer against future crises.
  • The organization could rewrite its financial rules to increase the timeline in which teams may restructure debts from five to seven years and introduce a luxury tax on teams that spend over a certain percentage of revenue — perhaps 70% — on player salaries.

UEFA is now selecting banks to help fund the credit facility. Loans will be secured against broadcast income, and teams will receive a lower interest rate than what would otherwise be available.

The organization earns nearly $4 billion annually in broadcast rights for all of its competitions — namely the Champions League, which tallied $2.37 billion in media rights in the 2018-2019 season.

Roblox Selling $1B in Junk Bonds

Roblox/Design: Alex Brooks

Roblox plans to sell $1 billion of junk bonds in what’s already been a popular year for high-yield borrowing.

The proceeds will be used to assist with “general corporate purposes,” including capital expenditures, production and development, potential acquisitions, and working capital.

The video game developer is the 85th first-time high-yield borrower in 2021, as more technology companies — especially those newly public — look to fund growth with debt, according to Bloomberg.

Roblox went public in March, reaching a $45 billion valuation on the day of its public market debut.

  • Second-quarter revenue was $454.1 million, a 127% increase year-over-year.
  • Daily active users hit 43.2 million in the quarter, a 29% increase from the same period in 2020.
  • Roblox announced a partnership with Sony Music Entertainment in July, bringing Sony recording artists to the Roblox metaverse.
  • In August, it acquired Discord competitor Guilded.

Goldman Sachs, Morgan Stanley, and JPMorgan Chase are leading the sale.

So far in 2021, Goldman Sachs has “done almost as much debut high-yield issuance for technology companies versus the last four years combined,” Anne Russ, head of technology, media, and telecom-leveraged finance at Goldman Sachs, told Bloomberg.

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Conversation Starters

Conversation Starters

  • Best Employers in Sports is back! Whether it’s great leadership, commitment to D&I, employee wellbeing, or social endeavors, the BES Award looks to recognize organizations that do right by their teams. The survey is open now through 11/12! Click here to submit an application.
  • Ken Griffey Jr. has joined the Seattle Mariners Partnership Group after purchasing shares in the franchise.
  • The owners of FC Porto are considering selling a minority stake in the team after receiving interest from outside investors. 
  • Baseball equipment company Marucci Sports announced it is acquiring Lizard Skins, a manufacturer of grip tape used in sports. The deal is worth around $50 million.
  • 2021 has brought an explosion in the mainstream adoption of cryptocurrencies, NFTs, and blockchain technology. Join us Thursday, Oct. 28, at 1 p.m. ET as we sit down with FTX’s head of brand partnerships to discuss how they have become one of the leaders in the sports and crypto landscape.

Question of the Day

Do you think Jeff Bezos will end up buying an NFL team?

 Yes   No 

Monday’s Answer
34% of respondents are planning to attend the Super Bowl at SoFi Stadium or know someone who is.

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Written by Owen Poindexter, Justin Byers, Abigail Gentrup

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