Closing Bell

The NBA has received “signs of interest from multiple investor groups for new teams in Las Vegas and Seattle that the league plans to sell for as much” as $10B, according to sources cited by BLOOMBERG NEWS. The sources said that early indications show Las Vegas is “drawing more interest than Seattle.” A source said that while “no formal bids have been submitted, there’s been substantial outreach from investors.” The NBA’s adviser, PJT Partners, is “canvassing the landscape to identify and vet potential ownership groups ahead of a formal bidding phase expected later this year.” The league’s board of governors is expected to vote later this year on “whether to approve the addition of one or two new clubs” (BLOOMBERG NEWS, 4/27).

The Pac-12 on Monday unveiled a “new conference logo” ahead of the reconstituted league’s official launch on July 1. The logo was “on display last weekend during the spring football games for its members.” Vancouver-based Lincoln Design Co. developed the new logo, which “does not have any boundaries, bolder lettering and a new ‘A’ in the form of an arrow.” Alternative logos and additional design elements are “planned to be announced when the league officially launches” (Portland OREGONIAN, 4/27).

The Pac-12 will welcome Colorado State, Boise State, Fresno State, San Diego State, Utah State, Texas State and Gonzaga as new members to join Oregon State and Washington State. The nine-team conference is keeping the Pac-12 name with the conference’s description of the new logo saying the 12 marks “our eras. With room for more” (Fort Collins COLORADOAN, 4/27).

N.Y. Mayor Zohran Mamdani and New York Gov. Kathy Hochul announced Monday that each of the city’s five boroughs will host an official FIFA fan fest for the World Cup, featuring “live viewings, local food offerings and more, with no cost to enter.” The fan fests will be held at the Billie Jean King National Tennis Center in Queens from June 11-27, Rockefeller Center in Manhattan from July 6-19, Bronx Terminal Market from June 13-14, Staten Island University Hospital Community Park from June 29-July 2 and Brooklyn Bridge Park from June 13-July 19. Tickets to enter each fan zone will be available on the FIFA NY/NJ website. Hochul said that there will be “more free World Cup viewing events throughout the state,” including at Stony Brook Univ. on Long Island beginning June 12 and Kensico Dam Plaza in Valhalla on June 19 (CBSNEWS.com, 4/27).

Meanwhile, Toronto unveiled details of its Fan Festival days after the city council “voted down a controversial proposal to charge an entry fee to the event that had previously been billed as free.” The festival will be held at Fort York and the Bentway during the 22 days of the tournament. That was made possible after the mayor and city “reversed course on a last-minute plan to charge $10 general admission to the festival,” a proposal that “angered some councillors and members of the public.” Among the highlights of the festival will be “live broadcasts of 46 matches ... live music, cultural showcases and community programming.” While general admission will be free, “attendees will have to reserve spots online through Ticketmaster.” There are also premium tickets, which the city has previously said that will “cost between $100 and $300” (TORONTO STAR, 4/27).

Division Street Events, in partnership with the Japan Gridiron Association, will stage the Tokyo Oregon Football Showcase presented by Flight Club on June 25-27 in Tokyo, which will bring the Univ. of Oregon football team to Japan. The inaugural showcase at The American School in Japan will focus on introducing 7-on-7 American football within the Japanese football community. Participating UO athletes will conduct a live exhibition to demonstrate fundamental skills, core concepts and techniques. Division Street plans to engage with stakeholders to explore the potential for launching a more permanent league concept for youth and high school players (Univ. of Oregon). The trip provides an “opportunity for Oregon football to grow its brand” (Portland OREGONIAN, 4/27).

Rogers Communications is “offering voluntary departure packages” to 50% of its employees, “excluding Maple Leaf Sports & Entertainment.” Rogers said that “about half of its employees across numerous business divisions will be offered packages,” but “did not say whether it had a reduction target.” Rogers had 25,000 employees at the end of 2025 -- which includes about 3,000 MLSE employees now that Rogers is the company’s majority owner, but “these MLSE employees will not be offered buyouts.” Some “teams in the company’s business units and corporate functions are eligible, though others are not eligible, including on-air talent, Sportsnet employees at Rogers Sports and Media, Toronto Blue Jays and union employees.” The company over the past year-plus has purchased Bell’s stake of MLSE, re-signed its Canadian media deal with the NHL and plans to buy the remaining stake of MLSE later this year (GLOBE & MAIL, 4/27).

Adidas’ shares “rose ​on Monday” after Kenya’s Sabastian Sawe became the first person to run a marathon in under two hours in an official race, accomplishing his feat “wearing the ‌brand’s Adizero Adios Pro Evo 3 trainers.” Sawe finished the London Marathon on Sunday in one hour 59 minutes and 30 seconds. The sub-two-hour marathon has been “one of sport’s biggest goals for years.” The win is a “boost for Adidas against arch-rival Nike” after years of “lab‑backed experiments and near‑misses looking to build a so-called ‘supershoe’ to break the record.” Tigst Assefa broke her own women-only world record in London “also wearing Adizero ​Adios Pro Evo 3 trainers” (REUTERS, 4/27).

Adidas gained “nearly 2% in the early afternoon in Frankfurt, before paring gains to trade 1.4% higher” at $162 a share. The stock is “down more than 18% this year,” however, as the brand “contends with US tariffs and fewer sales in its Middle East stores.” The London Marathon results are “important for Adidas” after “several difficult years for the company” (CNN.com, 4/27).

Sawe’s result cemented Adidas’ “return to the pinnacle of the sport.” It follows a “multiyear investment by Adidas to rebuild its credibility in the marathon category.” Sales in Adidas’ running category have “grown more than 30 per cent over the year, helping drive record revenues” of $29B in 2025 (FINANCIAL TIMES, 4/27).

Next year’s NFL Draft, set to be held in D.C., has a “goal of having a combined three-day attendance figure of 1 million fans on the National Mall.” The draft will be in the nation’s capital for the first time since 1940. Pittsburgh drew a record attendance of more than 805,000 attendees over three days (REUTERS, 4/27).