Finance
NFL distributes record $14.5B to teams, but Packers see challenges ahead
It is, as always, good to be an NFL team owner.
Peacock posts first quarterly profit
Peacock has hit its “first-ever quarterly profit” of $189M during Comcast’s Q2 on Thursday, “swinging from a loss” of $101M in the prior-year period, according to Lucas Manfredi of THE WRAP. It also added “2 million paid subscribers for a total of 48 million,” driven by the NBA playoffs, the World C...
MLB issues $40M of new debt, raises team borrowing limit
MLB issued around $40M in new debt in May, according to a ratings release from Fitch. The funds will support team-level borrowing through MLB Club Trust Securitization, a league-controlled credit facility. Fitch assigned an A rating and stable outlook for the new term notes.
Report: Mark Walter’s insurance companies, Guggenheim face federal probe
Dodgers and Lakers owner Mark Walter’s “sprawling investment empire” is “facing scrutiny” from U.S. prosecutors, who have been “investigating potential financial improprieties at two of his insurance companies and at Guggenheim Partners LLC,” according to sources cited by BLOOMBERG NEWS. Last year, ...
Netflix reports revenue bump in Q2 behind advertising, subscriber growth
Netflix on Thursday reported Q2 revenue of $12.56B, up more than 13% from the same period a year earlier, while net income rose almost 9% to $3.4B -- both results that “were roughly in line with analysts’ expectations.” Netflix attributed the Q2 gains “in part to recent price increases and growth in...
TKO’s Shapiro on UFC Freedom 250: ‘We’re never doing that again’
TKO Group Holdings President & COO Mark Shapiro has hailed UFC Freedom 250 as a massive success. He’s also emphatic about the likelihood of a sequel event on the White House lawn: “We’re never doing that again.”
Seahawks sale unlikely to force big policy changes, insiders say
For more than a decade, NFL leaders and sports finance experts have questioned whether the league’s famously risk-averse policies around ownership are costing owners money by artificially limiting the supply of wealthy bidders for teams, thereby depressing valuations.
Knicks’ Jalen Brunson discusses media brand, equity deals, possible team ownership at WSJ event
Knicks G Jalen Brunson said that he is “in the process” of building more of a media brand while discussing his off-court business at a Wall Street Journal Sports conference on Thursday in N.Y. Brunson said the past month has been long and busy after leading the franchise to its first NBA championshi...
Report: Ares Management looking to invest in NRL’s Melbourne Storm
Ares Management has been “floating around … as a potential investor” in the National Rugby League’s Melbourne Storm, as the owners of the Australian rugby club are putting a partial stake for sale, according to sources cited by the AUSTRALIAN FINANCIAL REVIEW. Sources said that N.Y.-based bank Jeffe...
Rogers looking to sell part of MLSE after deal to acquire 100% of company
Rogers Communications recently agreed to acquire the remaining 25% of MLSE in a deal with Larry Tanenbaum’s Kilmer Sports, and the company now is “looking to shed a similar sized chunk of their sports and media holdings,” according to Josh Rubin of the TORONTO STAR. The move is partly designed to “p...
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Quote of the Day
Promoters are understanding that colleges are trying to find more revenue, so you’re finding more tours are tailoring to college venues for that reason.-- Univ. of Louisville Athletic Association CFO Heidi Huebner, on the 'domino effect' of hosting non-athletic events.
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