DAZN was locked out of the most recent negotiations for Premier League media rights, so it may buy its way in instead.

The sports streaming service is in advanced talks to acquire BT Sport, the sports media wing of British telecommunications and broadcasting giant BT. BT has been in discussions with various parties for over six months and could wrap up a deal in the coming weeks. 

In May, the Premier League extended its existing broadcast deals with BT, Sky, BBC, and Amazon to 2025. The deals are collectively worth $7 billion.

• The price for BT Sport is likely to reach at least nine figures.
• In addition to the coveted top U.K. soccer league, DAZN would gain rights in cricket, rugby, and Australian rules football.
• Due to a partnership between BT Sport and Sky, any deal would need Sky’s approval. 

DAZN won out over Sky in its three-year, $2.96 billion deal for Serie A rights in March and its $100 million, five-year deal for boxing property Matchroom. In June, DAZN rejected a $1.8 billion offer from Sky to share Serie A broadcasting rights.

BT Sport was launched in August 2013 and lost around $546 million annually in its early years, but now breaks even with over 2 million subscribers. 

Similarly to AT&T, BT is seeking to offload its media properties to focus on telecommunications and 5G.

Kansas City Chiefs star Travis Kelce and activewear brand Fabletics are investing in at-home rowing machine maker Hydrow. 

The company’s latest funding round brought in comedian Whitney Cummings and recording artists Justin Timberlake and Lizzo, adding to a list of investors that includes Kevin Hart, who was named creative director of the Hydrow last October. Hydrow launched a partnership with Fabletics the same month.

While specific financial terms were not disclosed, the new funding brings Hydrow’s total amount raised to nearly $200 million.

• Hydrow’s sales grew by 500% in 2020, according to Bloomberg. Founder and CEO Bruce Smith said sales rose 300% through June of this year compared to the same period in 2020.
• The company is in talks to go public via a SPAC merger with Sandbridge X2 Corp., which would value the combined company at more than $1 billion.
• Last year, Hydrow raised $25 million in a round that included private equity firm L Catterton and Rx3 Growth Partners, co-founded by Aaron Rodgers.

Smith says some of the funding will be used to meet product demand during the holiday season and create more content for users. 

Hydrow sells its rowing machines for $2,295 and offers 3,000 live and on-demand workouts.

Activision Blizzard’s sexual harassment and toxic workplace issues are receiving federal attention: The company is being investigated by the Securities and Exchange Commission.

The SEC has subpoenaed the company and several top executives, including CEO Bobby Kotick, seeking minutes from board meetings, personnel files, and separation agreements, according to the Wall Street Journal.

The agency has also asked for communications between Kotick and other senior executives regarding sexual harassment and discrimination complaints. It is seeking to determine if investors should have been contacted earlier about certain complaints.

The $57 billion market cap company is now facing legal action from at least three government agencies.

• The Equal Employment Opportunity Commission has been investigating gender-based harassment claims at the company since at least May 2020.
• The company is discussing a settlement with the EEOC that would likely cost it millions of dollars.
• In July, the California Department of Fair Housing and Employment filed a lawsuit alleging that women at the company were paid less than men for similar work. 

The legal action coincides with a 26% drop in Activision Blizzard’s stock price from mid-June to market close on Tuesday, despite a second quarter that saw company revenues rise 18.8% to $2.3 billion.

The NHL’s Arizona Coyotes have submitted a proposal for a $1.7 billion arena and entertainment complex in Tempe, Arizona.

The Coyotes’ plan calls for roughly $200 million from taxpayers, but the team reportedly plans to pay for the remaining costs.

A 16,000-seat arena, the team’s headquarters, and a practice rink would all be located within the complex. There are also plans to add hotels, retail stores, apartments, and a theater.

The team has called Glendale home since the 2003-04 season but lost its lease at Gila River Arena when the city decided to not renew.

In August, Glendale city manager Kevin Phelps said that the Coyotes owe more than $1.4 million to the arena as of July 17.

In addition to the Coyotes’ potential new home, the franchise announced a rebrand. 

• The team will change its primary logo back to the popular “Kachina” graphic.
• It will also wear red Coyotes head jerseys for eight games during the 2021-22 season.

Real estate and media mogul Alex Meruelo purchased the Coyotes for a reported $300 million in July 2019. As of December 2020, the team is valued at $285 million — the least valuable franchise in the NHL, per Forbes.