February 27, 2023

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The NFT industry is still alive, but it could be facing a seismic change if a judge rules that they must be treated as securities. LG Doucet, founder of web3 sports community The First Mint, joins senior writer Owen Poindexter to break it all down on Front Office Sports Today.

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Amazon Founder Jeff Bezos Still In Mix For Commanders

Syndication: Louisville Courier-Journal

NFL owners have grown increasingly concerned over the pace of the Washington Commanders sale, fueled by reports that owner Dan Snyder won’t allow Amazon founder Jeff Bezos bid for the franchise.

Bezos, however, remains in the mix for the franchise, two sources with knowledge of the situation told Front Office Sports. One of those sources said reports that Snyder wouldn’t sell to Bezos amounts to a ploy to get a high bid out of the Amazon founder. 

There are indications that the sales process is at a critical juncture. Snyder and Bank of America — the firm hired to facilitate a sale — have narrowed the list of bidders down. 

There’s another option: Snyder could decide to keep the team, something one source said has vexed some NFL owners.

It’s still believed that Snyder will sell, but bids haven’t come close to the $7 billion sources previously told FOS he is seeking. 

FOS reported that the highest bid when the first round of bidding closed in December was $6.3 billion. But it’s unclear who bid that amount and what the bid’s status is now. 

The Washington Post reported last week that Allen & Co. is advising Bezos.

That’s been recognized by those around the league, who one source said have encouraged Bezos and his representatives to remain engaged in the process. 

Josh Harris — the owner of the New Jersey Devils and Philadelphia 76ers — and Houston Rockets owner Tilman Fertitta are also interested in the Commanders. 

The Washington Post reported on Saturday that Fertitta’s bid was for slightly more than $5.5 billion. Harris’ bid hasn’t been made public. 

Browns Owners Agree to Buy Marc Lasry’s Bucks Stake

Ken Blaze-USA TODAY Sports

Marc Lasry is selling his stake in the Milwaukee Bucks to Cleveland Browns owners Jimmy and Dee Haslam, a source confirmed to Front Office Sports.

Pending league approval, the stake sale would put the 2021 NBA champions at a $3.5 billion valuation — the third-highest for a U.S. pro sports team and the second-highest for an NBA team. 

The valuation trails only the Phoenix Suns in the NBA, which Mat Ishbia purchased from Robert Server earlier this month at a $4 billion valuation. Lasry reportedly previously considered selling his stake to Ishbia before the latter purchased the Suns in December 2022. 

The Bucks were last valued at $2.3 billion by Forbes, making it the 15th-most-valuable NBA franchise.

Lasry and Wes Edens bought the team for roughly $550 million in 2014 from former U.S. Sen. Herb Kohl and then led the building of the $524 million Fiserv Forum and the surrounding Deer District. 

Lasry, who is also an investor in Major League Pickleball, reportedly plans to keep downtown Milwaukee real estate holdings and, within his investment firm Avenue Capital, is in discussions to create a sports investment fund.

Jimmy Haslam purchased the Browns in 2012 for a reported price of $1 billion. The Haslams also own Major League Soccer’s Columbus Crew.

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SeatGeek Takes StubHub’s Spot in $100M Deal with MLB

Soobum Im-USA TODAY Sports

SeatGeek is linking up with Major League Baseball in a reported $100 million deal. 

The New York-based company will be MLB’s official ticket reseller, in a five-year pact worth an average of $20 million per season, according to Forbes. The deal was announced on Monday.

“Baseball is the largest spectator sport in the world in terms of total attendance, and the nature of the league’s 162-game season makes it ripe for innovation on the ticket resale side of the business,” said SeatGeek co-founder Russ D’Souza.

The tie-up will facilitate ticket reselling through SeatGeek’s marketplace using barcode integration.

“The league is looking to get younger sports fans and harness technology more effectively, and our platform is a perfect solution,” D’Souza told Front Office Sports. 

“We’re eager to tap into SeatGeek’s extensive user base across numerous categories to reach an even wider audience of potential attendees,” said MLB chief revenue officer Noah Garden.

SeatGeek also partners with a handful of NFL and NBA teams, and has MLS and NASCAR in their portfolio.

The deal with MLB is the second in February in which SeatGeek has stepped in for StubHub. Earlier this month, the company announced a deal with major college athletics reseller Paciolan. That deal begins in July.

MLB also announced on Monday that its London series in June between the Chicago Cubs and St. Louis Cardinals will air in the U.S. on ESPN and Fox Sports.

Conversation Starters

  • The Professional Bull Riders are tapping Cole Hauser, star of the Kevin Costner-led series “Yellowstone,” to be the face of the league, Front Office Sports reported.
  • Two MLS clubs, Charlotte FC and Atlanta United, had attendances topping 65,000 on the same day, marking the first time that has ever happened in MLS history.
  • TGL, the tech-forward, stadium-based golf league started by Tiger Woods and Rory McIlroy, has broken ground on its new arena at Palm Beach State College.

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What To Watch

The Miami Heat (32-29) travel to Philadelphia to face the 76ers (39-20) at Wells Fargo Arena.

How to Watch:  7 p.m. ET, on NBA TV

Betting Odds: 76ers -6 || ML -225 || O/U 217

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Written by A.J. Perez, Abigail Gentrup, Owen Poindexter
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