April 1, 2021

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Jeff Bezos wants to purchase something that you can’t get on Amazon.

L.A. Chargers Co-Owner Files to Force Sale

Amazon, USA TODAY Sports/Design: Alex Brooks

The fate of an NFL team — and maybe Jeff Bezos’ potential future in the league — hangs on a family dispute.

Dea Spanos Berberian, sister of L.A. Chargers controlling owner Dean Spanos, filed a petition in Los Angeles County Superior Court on Thursday to force a sale of the team, saying there is no way it can pay off its debts. Berberian, Spanos, and two of their siblings each own 15% of the team, with another 36% in a family trust. The family has owned the team since 1984.

The petition mentions a potential new owner: Amazon CEO Jeff Bezos. Bezos is known to be interested in purchasing an NFL team and was linked to sale talks surrounding the Washington Football Team, a fact that the petition noted — citing Front Office Sports reporting. The petition says that “the Chargers could be a perfect opportunity” for Bezos.

Berberian claims that the trust’s debts and expenses top $353 million, and that there is no plan for how it will pay the more than $22 million that it pledged to charities.

Spanos and the other two siblings with a stake in the team fired back with a letter on Thursday sent to FOS and other outlets calling Berberian’s plan a “misguided personal agenda” and saying they were prepared to purchase her stake in the team if she no longer wanted it.

The team’s 2017 move from San Diego to L.A. came with substantial challenges. The team had to pay the NFL a $650 million relocation fee, share a stadium with the Rams, leave a fanbase it had developed over 56 years, and start fresh with a city that already had an NFL team.

Endeavor to Buy Rest of UFC, Elon Joins Board

Handout Photo-USA TODAY Sports/Design: Alex Brooks

Endeavor said in a filing with the SEC that it plans to use proceeds from an IPO to raise “at least $1.75 billion” to purchase the chunk of UFC it doesn’t already own.

The media and entertainment conglomerate tapped UFC’s $150 million revolving credit line last year, as the pandemic had a “significant impact” on operations. Endeavor also highlighted how UFC and Professional Bull Riders, another entity it owns, “were two of the first sports organizations to responsibly return” to action last spring. The company owns sports/entertainment powerhouse IMG as well.

No date or price for the IPO was listed in the filing, although the stock is set to be traded on the New York Stock Exchange under the ticker “EDR.” 

Endeavor currently owns 50.1% of UFC. Private equity firms Silver Lake and Kohlberg Kravis Roberts —  companies that were part of the $4 billion purchase from brothers Frank and Lorenzo Fertitta in 2016 — hold the rest. 

Endeavor’s current debt load is $5.7 billion, according to the filing. In 2020, the company saw revenues of $3.47 billion with a net loss of $625.3 million.

In another major reveal, Tesla CEO Elon Musk is set to join Endeavor’s board of directors. Musk was selected “because of his professional background and experience running a public company,” the filing read.

Headed by Hollywood super-agent Ari Emanuel, Endeavor planned an IPO in 2019, but the effort was halted after other companies like Uber and Peloton faltered when they went public.

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A-Rod: More Mic’d Up Players a ‘Game-Changer’

Mark J. Rebilas-USA TODAY Sports/Design: Alex Brooks

Major League Baseball’s challenge is attracting a younger fanbase. ESPN analyst Alex Rodriguez has pinpointed a ”game-changer” for the Grand Old Game: putting microphones on players during live play.

“One of the things people would always ask me is, ‘Hey, what were you and Mariano [Rivera] talking about?’ Or ‘What were you and [Andy] Pettitte, what were you and [Derek] Jeter, talking about?’” said Rodriguez, a 14-time MLB All-Star.

Rodriguez called a Philadelphia Phillies-Atlanta Braves game last August where Bryce Harper wore a mic. Harper didn’t just talk to ESPN announcers between innings or from the dugout — he joined their discussion during live play. 

Rodriguez, who starred for the Mariners, Rangers, and Yankees, was blown away. If A-Rod had his way, he’d mic up players in batting cages, in the clubhouse, and even in their cars.

“I want to see them driving home and coming to the stadium,” A-Rod said. “The more, the better. The young people don’t just want generic content. They want the things behind the scenes they can’t get anywhere else.”

With an estimated net worth of $350 million, Rodriguez knows baseball and business. Warren Buffett is his financial mentor and he calls George Steinbrenner, the late Yankees owner, his “North Star.” 

Rodriguez led an investment group that almost bought the New York Mets, and he’s a player in CGI Merchant Group, a $650 million hospitality fund looking to acquire hotels. The Rodriguez-backed SPAC Slam Corp. went public via a $500 million IPO last month.

Conversation Starters

Conversation Starters

  • Legendary announcer Dick Vitale and ESPN agreed to a contract extension that will keep him on air through the 2023-2024 college basketball season for his 45th year at the network. The 81-year-old hopes to one day call a basketball game at age 100.
  • Roy Williams is retiring after 33 seasons as a men’s college basketball coach. He spent 18 seasons with North Carolina and led the Tar Heels to three national championships.
  • With NBA superstar LeBron James and RedBird Capital’s recent investments in Fenway Sports Group now official, the parent company of Liverpool FC and the Boston Red Sox is now valued at $7.4 billion. James acquired a 1% stake; RedBird has an 11% stake.
  • All-Star shortstop Francisco Lindor agreed to a 10-year, $341 million deal with the New York Mets, hours before Lindor’s self-imposed Opening Day deadline. The deal, which begins in 2022, is the third-largest in MLB history in terms of total value, behind the Angels’ Mike Trout ($426.5 million) and the Dodgers’ Mookie Betts ($365 million). Get more stories like this in Sports Section — a free, daily newsletter. Click here to subscribe.

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Market Movers

Market Movers

U.S. stocks extended gains on Thursday with the S&P 500 breaking above 4,000 points for the first time ever. Here’s a look at how sports-related stocks performed:

Up:

Gravity Co., Ltd. (NASDAQ: GRVY) gained 6.97%

Big 5 Sporting Goods Corporation (NASDAQ: BGFV) gained 4.97%

MGM Resorts International (NYSE: MGM) gained 4.92%

Down:

Dave & Buster’s Entertainment, Inc. (NASDAQ: PLAY) dropped 5.41%

Lululemon Athletica Inc. (NASDAQ: LULU) dropped 1.84%

Columbia Sportswear Company (NASDAQ: COLM) dropped 1.04%

(Note: All as of market close on 4/1/21)

What to Watch

What to Watch

The Los Angeles Clippers (32-17) host the Denver Nuggets (29-18) tonight. The teams haven’t met since the Clippers beat the Nuggets by 13 points in December. L.A. lost to the Orlando Magic by double digits on Tuesday but blew out the Milwaukee Bucks the night before.

How to Watch:

10 p.m. ET on TNT

Betting Odds:

Clippers -1 || ML -125 || O/U 220.5

Pick: This is an important matchup for both teams, with only three games separating the two in the Western Conference standings. Despite being 7-1 in their last eight games on the road, the Nuggets face a Clippers team that is starting to roll, going 6-1 in their last seven games. Coming off a 28-point performance, Kawhi Leonard will look to bring his team closer to the top spot in the West. Take Los Angeles to cover and lean over.

Who ya got? Reply to this newsletter with your prediction for the Nuggets-Clippers winner, final score, and high scorer. Nail it, and you get a mention in Friday’s FOS PM. Don’t forget to include your Twitter handle.

Shoutout: On Wednesday, we asked FOS readers to pick the winner, final score, and high scorer of the Bucks-Lakers tilt. The Bucks defeated the Lakers 112-97. FOS reader David Nagelberg (@SportsGuruDave) was nearly spot on picking the Bucks to win 114-99. No one predicted Jrue Holiday would outscore Giannis with a game-high 28 points.

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