Juan Soto has new employers — and by next season, his former teammates may, too.

The Washington Nationals are expecting bids to purchase the team before the end of the regular season on Oct. 5. 

• At least five parties have reviewed the team’s financial reports and met with team personnel, per the Washington Post.
• Washington Capitals, Wizards, and Mystics owner Ted Leonsis, former CEO of three MLB teams Larry Lucchino, Freedom Mortgage CEO Stanley Middleman, and co-founder of private equity firm MBK Partners Michael B. Kim have all shown interest.
• Forbes valued the Nationals at $2 billion in March. The New York Mets were sold for $2.4 billion in November 2020. 

The team owes $200 million to the injured Stephen Strasburg and ace Max Scherzer, now with the Mets. The potential sale was not a factor in the trade of Soto to the San Diego Padres, according to Nationals general manager Mike Rizzo.

O’s Staying in the Family?

Meanwhile, the neighboring Baltimore Orioles have a similarly uncertain ownership future. 

Team chairman and CEO John Angelos reportedly wants his family to retain majority ownership, while his brother Louis Angelos sued John and their mother, Georgia Angelos, in June, alleging that John blocked a plan to sell the team.

Legal filings from Georgia indicated that she had retained Goldman Sachs and Jones Day to provide services connected to the planned sale of the team. Forbes valued the Orioles at $1.4 billion.

Signa Sports United reported major revenue growth in its fiscal third quarter — but also a modest loss — as it restructures into a larger business.

The bicycle and tennis equipment company saw net revenue grow 29.2% to $329.7 million, reflecting the addition of two new companies under Signa’s umbrella. 

• In December, Signa went public through a SPAC merger and closed the acquisitions of British bike retailer Wiggle and Tennis Express.
• The merger with Yucaipa Acquisition Corporation, run by former Pittsburgh Penguins owner Ron Burkle, valued Signa at $3.2 billion and raised $645 million.
• Wiggle had around $500 million in annual sales at the time of the acquisition.

The acquisitions helped push back against weaker consumer demand to push user traffic up 16% year-over-year. Signa also owns Chain Reaction Cycles, Fahrrad, Bikester, Probikeshop, CAMPZ, Addnature, Tennis-Point, TennisPro, and OUTFITTER.

Signa’s stock was essentially flat following the earnings release on Tuesday — and is down over 25% in its time as a public company.

Changing Gears

The company took a $13.2 million adjusted EBITDA loss in the quarter, compared to a gain of the same amount a year prior. Signa chalked up the loss to one-time expenses related to its public listing.

Signa secured a $152.6 million credit line to power growth, with CFO Alex Johnstone naming its logistics and technology platform as a target for investment, plus an additional $203.5 million option for acquisitions.

This year’s UEFA Women’s Euro tournament, which featured a thrilling final between England and Germany, drew record numbers from both a viewership and attendance standpoint.

But the organization has released a report suggesting the women’s game has even more room to grow.

In the next 10 years, European women’s soccer could reach about $698 million in annual commercial value, the report found — six times its current value.

“The rapidly expanding fanbase of women’s football is resulting in new revenue opportunities for leagues and clubs, driving the commercial growth of the women’s game and providing the momentum towards further professionalization of the sport,” the report said. 

The report surveyed 42 leagues, 162 teams, and 11 commercial partners to arrive at this staggering number.

The Breakdown

All major categories in the business of women’s soccer are expected to skyrocket.

• Sponsorships could increase sixfold for up to $300 million each year.
• Media rights could be worth more than $260 million each year by 2033.
• Matchday revenue is also expected to go up to more than $137 million each year. It currently totals just over $12 million. 

“The future of the women’s game is incredibly promising,” UEFA’s director of football Giorgio Marchetti wrote in the report.

Genius Sports sees profitability on the horizon after revenue growth across all its core segments.

The sports data and technology company notched $71.1 million in revenue, up 27.3% from last year. 

The London-based company with a growing U.S. presence was affected by a strengthening dollar: Revenue was up 42% year-over-year when measured using constant currency.

• The company absorbed a net loss of $4.8 million, a massive improvement from a $464 million loss in the same period last year.
• Revenue related to sports betting rose 10% year-over-year to $44.8 million.
• Genius’ smaller segments showed massive growth: Its media-related revenue increased 88% to $15 million, and its sports technology and services division went up 57% to hit $11.3 million.

International Approach

Genius has betting, media, and technology relationships across the globe. 

In the second quarter, it developed free-to-play games for FIFA’s new FIFA+ streaming platform, struck a partnership with Brazilian sportsbook Betsul, and secured a data and broadcast augmentation deal with Portuguese soccer club S.L. Benfica. 

The U.S., where Genius works with the NFL, MLB, NCAA, and the PGA Tour, remains a central focus. U.S. revenue nearly quadrupled in Q2 from the previous year.

Genius also has partnerships with the Premier League, Euroleague Basketball, Liga MX, the CFL, and FIBA.