FOS PM: NHL Penguins sell for $ 900 million


Three-time Cy Young winner and World Series champion Max Scherzer has reportedly agreed to a three-year, $ 130 million contract with the New York Mets. At $ 43.3 million per year, this is the highest average annual value in MLB history.

In addition to his new contract, the Nationals still owe Scherzer $ 15 million a year until 2024.

Fenway Sports Group adds a major franchise to its roster: The group has agreed to buy a controlling stake in the Pittsburgh Penguins of the NHL.

The deal, announced on Monday, must now be approved by league owners, who will meet in December. Fenway also owns the Boston Red Sox and Liverpool fc

Terms were not disclosed, but The Athletic reported that the sale was for approximately $ 900 million.

  • Current owners, billionaire Ron Burkle and Mario Lemieux, will retain minority stakes in the club.
  • Lemieux, a Penguins legend, will continue to oversee the team’s hockey operations, and the team’s core leadership will remain intact.
  • Lemieux and Burkle bought the Penguins in 1999 for $ 107 million.

It’s the first major addition to Fenway’s list in over a decade. The group bought the Red Sox in 2002 for $ 700 million and Liverpool in 2010 for $ 440 million.

In March, RedBird Capital Partners invested $ 750 million in Fenway at a $ 7.35 billion Evaluation. LeBron James and Maverick Carter bought Fenway the same month.

The Penguins achieved the best ratings on local television of any team in the NHL or NBA during the 2020-2021 season. They have sold 600 straight games, according to the team.

Japan is once again a favorite to host the Olympics as it contemplates cost-cutting possibilities for the 2030 Winter Games.

Sapporo city officials estimate that hosting the event would cost up to $ 2.65 billion – apparently 20% less than the 2019 estimates. About $ 700 million would be taxpayer dollars.

Sapporo, which hosted the 1972 Winter Olympics, could use 92% of the city’s existing structures, according to Mayor Katsuhiro Akimoto. But almost 60 years old by the time the Games take place, these venues are in need of updating.

It is difficult to know how precise the numbers are.

  • Tokyo ended up spending $ 15.4 billion for the 2020 Games.
  • When the city bid for the event in 2013, it believed it would only spend $ 7.3 billion, and some believe the cost was higher than advertised.
  • A study from the University of Oxford found that since 1960 all the Olympic Games have recorded “cost overruns of 172% on average”.

The mayor said he would conduct a public opinion poll on accommodation in early 2022, although a statement from the organizers has already referred to ideas for a nomination.

The IOC has yet to reveal when Host City 2030 will be announced. Ukraine, Vancouver, Salt Lake City and the Spanish regions of Aragon and Catalonia are other cities that have expressed interest.

Solana Ventures, FTX, and Lightspeed Venture Partners have teamed up to launch a $ 100 million gaming fund called GameFi.

The fund will facilitate investments in video game developers, technology companies and other projects at “the intersection of blockchain and gaming. “

Earlier this month, the trio led a $ 21 million fundraiser at Miami-based studio Faraway Games, the fund’s first investment.

The video game market is expected to reach $ 219 billion in 2024.

  • Lightspeed has invested in gaming companies including Epic games, Hidden Sheet, 1017 Games, and Triplepoint Workshops.
  • In June, FTX acquired the naming rights for an esports organization TSM Esports as part of a 10-year, $ 210 million deal that included cryptocurrency for all TSM players and employees.
  • Earlier this month, Solana took part in a $ 725 million Series B round at a crypto games startup Strong which included Andreessen Horowitz and Warner Music Group.

In October, FTX closed a $ 420.7 million funding round, valuing the crypto exchange at $ 25 billion, while LightSpeed ​​has over 400 active investments with $ 10.5 billion in committed capital. .

Solana has raised around $ 335.8 million in total funding and made eight investments, including her stake in last week’s $ 21 million round of funding in BetDex, a blockchain-based sports betting platform.

  • In today’s Leadoff, UEFA and football leagues could lose $ 9 billion in biennial World Cups, Rams relocation lawsuit sets in for record amount, Formula 1 sees audience increase in the United States and Dream Sports raises $ 840 million for a valuation of $ 8 billion. Click here to listen.
  • Twitter CTO Parag Agrawal a replaced Jack Dorsey as CEO of the social media company following Dorsey’s resignation on Monday. This follows a significant increase in engagement for NFL and college football tweets this season as the platform ramps up its monetization efforts.
  • To smoke reported an all-time high of 27.4 million simultaneous players on its service over Thanksgiving weekend. The peak, which was reached on Sunday, November 28, surpasses the previous February record of 26 million.
  • They are traditionally silent during the offseason, but the Blue Jays continue to rock the MLB free agency. Toronto signed RHP Kevin Gausman to a five-year, $ 110 million contract on Sunday, just hours after letting infielder Marcus Semien leave on a seven-year, $ 175 million pact with the Rangers. To learn more about the free MLB agency, subscribe to the Sports section.

(Note: All at market close on 11/29/21)

The Seattle Seahawks (3-7) take on the Washington football team (4-6) tonight at FedEx Field.

How to watch: 8:15 p.m. ET on ESPN

Betting odds: Seahawks -1 || ML -115 || O / U 47 *

To take: Expect Russell Wilson to get back on track after two straight losses. Take Seattle to cover.

Who do you have? Respond to this newsletter with your prediction for the Seattle-Washington winner and the final score.

* Dimensions / lines subject to change. The T & Cs apply. See for details.

Ready to represent your favorite newsletter? Refer your friends and colleagues to Front Office Sports and you could win FOS products.

It’s easy to spread the word. Copy and paste your unique link below and share it in an email or on your journal.

Your personalized referral link: [RH_REFLINK]

Or use these one-click sharing methods:

Source link


About Author

Comments are closed.