Finance & Law
Manhattan West closes PE fund in part targeting sports industry
Latest effort builds upon prior investment in the Formula 1 Exhibition
Fanatics valued at $31bn after $700m funding round
Global sports merchandising company Fanatics is now valued at $31bn (€29.6bn) after raising approximately $700m in a new funding round which was led by private equity firm Clearlake Capital.
Opendorse raises $20m in latest funding round
Athlete marketing platform Opendorse has raised $20m (€19.07m) in a funding round towards name, image and likeness (NIL) opportunities for more than 500,000 student-athletes.
CAS hearing begins into challenge to Eliasch’s FIS presidency
The Court of Arbitration for Sport (CAS) inquiry into the controversial re-election of Johan Eliasch as president of the International Ski and Snowboard Federation (FIS) is expected to roll into 2023 following…
DFL ‘delays talks’ on Bundesliga rights equity sale
The German Football League (DFL), organising body of the top two divisions of the domestic game, has delayed talks over the potential sale of a stake in its media rights business to next year amid a lack…
World Cup rights-holder New World TV hit by cyber attacks
New World TV, the Togo-based satellite broadcaster that holds free-to-air and pay-television rights to the 2022 Fifa World Cup in French-speaking sub-Saharan Africa, has claimed it has suffered a series…
Whisler to sell Chicago Red Stars majority stake
Arnim Whisler has confirmed plans to sell his majority stake in National Women's Soccer League club Chicago Red Stars amid the ongoing sexual abuse scandal which continues to rock the league
Textor handed final deadline for Lyon takeover
OL Groupe, the holding company of Olympique Lyonnais, has given American investor John Textor a deadline of this Wednesday, December 7, to complete his takeover of the Ligue 1 club
Amendment proposed for five-year domestic Serie A deals
An amendment has been filed to the Melandri Law, the 2008 legislation which imposed the collective selling of media rights on professional sport in Italy, to extend the maximum duration of domestic broadcast…
Adam Davis on forging new opportunities for Two Circles
In this week’s episode, podcast co-hosts Eric Fisher and Chris Russo interview Adam Davis, managing director of North America for Two Circles. Fisher and Russo also discuss Merritt Paulson’s move to sell the National Women’s Soccer League’s Portland Thorns, the National Basketball Association’s embrace of new sources of team investor capital, accelerated plans to expand the College Football Playoff, Major League Baseball’s sale of its BAMTech equity stake, the Boston Red Sox’s jersey patch sale, and the departure of Lenny Daniels from Warner Bros. Discovery.
Super League could cut domestic league revenues ‘by up to 55 per cent’
A European Super League (ESL) would lead to a decline in domestic league revenues of up to 55 per cent and have a detrimental effect on leagues across the continent, according to a report from professional…
Arsenal losses more than halved to £45.5m
Arsenal has more than halved its losses for the 2021-22 season, with the English Premier League football club reporting both positive and negative impacts to its revenue streams
Uefa launches new investigation into Juventus for financial rule breaches
European football’s governing body Uefa has opened a formal investigation into Italian Serie A club Juventus for potential breaches of its licensing and Financial Fair Play (FFP) regulations.
NBA to allow investment from sovereign wealth, pension funds
League expands its embrace of institutional money as franchise values soar
WTT eyes full slate of Grand Smashes by 2024, revenues recover to reach $29m
World Table Tennis, the commercial arm of the International Table Tennis Federation, is confident that a full quota of four ‘Grand Smash’ tournaments will be in place by 2024, when it will look to rol…
FIGC opens investigation into Juventus, LaLiga calls for sanctions
The Italian Football Federation (FIGC) has opened an investigation into Juventus over alleged salary irregularities, while Spain's LaLiga has become the first international body to call for immediate sanctions…
Disney pays MLB $900m for remaining stake in BAMTech
ESPN parent completes series of transactions for streaming technology entity
Skoll acquires Monumental Sports minority stake
Jeff Skoll, the Canadian billionaire businessman, has joined Monumental Sports & Entertainment as a minority investor.