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Glen Taylor pulls T'Wolves, Lynx off the market...Steve Cohen's Point72 takes Fox stake...David Rubenstein joins MASN booth at Orioles opener

Glen Taylor pulls T'Wolves, Lynx off the market

By Tom Friend

It is believed Glen Taylor (l) has had a change of heart regarding the sale of the T’Wolves and Lynx after the breakdown of the $1.5B Alex Rodriguez-Marc Lore dealBruce Kluckhohn/USA TODAY NETWORK

 

It is believed Glen Taylor has had a change of heart regarding the sale of the T’Wolves and Lynx after the breakdown of the $1.5B Marc Lore-Alex Rodriguez deal, which led to his statement today that the teams are no longer available. The T’Wolves currently are the No. 2 seed in the Western Conference, only a 1/2 game out of first place, and have broken attendance and viewership records this season. Indications are even if the valuation of his two franchises continue to rise -- and recent projections have them at $2.5B -- Taylor will not sell.

A joint statement today from Lore and Rodriquez took issue with Taylor’s decision, saying the group was ready to complete the purchase before Taylor had "seller’s remorse." Their statement in full read: "We are disappointed with Glen Taylor's public statement today. We have fulfilled our obligations, have all necessary funding and are fully committed to closing our purchase of the team as soon as the NBA completes its approval process. Glen Taylor’s statement is an unfortunate case of seller's remorse that is short sighted and disruptive to the team and the fans during a historic winning season."

Click here to see the entire story about Taylor taking the teams off the market.

Cohen's Point72 takes Fox stake

By Chris Smith

Mets owner Steve Cohen’s Point72 Asset Management has acquired a 5% stake in Fox Corporation, according to an SEC filing this week. That position of some 12 million shares, including 2.37 million shares that are “issuable upon exercise of options,” is worth around $376.9M at Fox’s stock price of $31.29 per share as of presstime. Fox, which is an MLB rightsholder, is in the process of launching a new sports streaming platform alongside ESPN and Warner Bros. Discovery; the joint venture earlier this month named Pete Distad, formerly an exec overseeing the business and operations of Apple’s video, sports and TV+ verticals, to be its CEO. The Fox investment follows SEC filings last month that revealed Point72 had amassed a 5% position worth around $54M in Liberty Live, a tracking stock for Liberty Media’s stake in Live Nation, and a 5.6% stake now worth some $91M in Madison Square Garden Entertainment, which manages venues including MSG. Institutional Investor first reported news of Point72’s Fox investment.

Rubenstein joins MASN booth at O's opener

New Orioles owner David Rubenstein was at Camden Yards this afternoon for the team’s season opener against the Angels and made an appearance in the MASN booth during the second inning. He talked about wanting to help him hometown of Baltimore and said those roots could help on the business side of the operation. He said, “We can help with sponsorships. We can help with getting suites sold, more season-tickets sold. I think we can help in the community.” Baseball HOFer Cal Ripken Jr. is a member of the ownership group, and Rubenstein said, “He and I will do a number of presentations around the community to see what we can do to get more interest (in the team).”

Rubenstein is heading an 18-person ownership group, and he explained why the group is that large. He said, “I thought a diverse group would be more representative of the city. The city of Baltimore is roughly 60% African-American, and I thought it would be good to have some diversity in the group. Also would be good to have some women in the group. I think that represents America much better.” He was asked how he attracted people like Michael Bloomberg, Michele Kang and Grant Hill to join the group, to which he replied, “I’ve been in the financial service world for 30-40 years, so I know a lot of people that have money to invest and I know a lot of people around the country, so it wasn’t that difficult for me to do that” (“Angels-Orioles,” MASN, 3/28).

Georgia sports betting bills may be in limbo

The Georgia House Higher Education Committee today passed out both a proposed state constitutional amendment and authorizing legislation "that would let Georgians bet legally on pro and college sports," but Democratic House Minority Whip Sam Park said his party "still wants to see changes in how state taxes on sports betting would be spent." Without Democratic votes and with Republicans "far from unified," a constitutional amendment "can't achieve the two-thirds majorities" needed to pass the House and Senate. Time is "short" to reach any agreement, as lawmakers will conclude their 2024 annual session after sundown today. Park said he and other Democrats "don’t support the bills passing as they’re currently written" because the House committee "changed the measure." There’s "still a chance Georgians could vote" on authorizing sports betting in November, but "the odds may be poor" (AP, 3/28).

777 pledges more funds as it awaits Everton sale

U.S.-based 777 Partners has "committed to a further month of support" for Premier League club Everton as it awaits approval of its purchase of the club from owner Farhad Moshiri. A plan for support through April has "now been signed off," which will take the firm's total commitment towards Everton so far to just above $200M. 777'’s bid to purchase Moshiri's 94.1% stake "sparked the beginning of lengthy scrutiny" by regulatory bodies, including the Financial Conduct Authority, Football Association and the EPL. Representatives of both the league and 777 recently met for discussions "widely perceived to have marked the beginning of the end of the process" (LIVERPOOL ECHO, 3/28).

Meanwhile, with Everton’s new stadium "on schedule to be finished by the end of this year," a new "stunning design feature" has been unveiled that will "make a splash on the former dock that has been transformed into Everton Stadium." A "30,000m sq fan plaza" will "serve as the spacious entrance to the Blues' spectacular new home." The dock walls "will remain exposed as a feature of the plaza and a geographical nod to the rich heritage of the site" (LIVERPOOL ECHO, 3/28).

ManU to appoint new head of women's operation

Manchester United is "set to appoint a new head of women’s football" as Ineos makes its "first significant change" to the women’s team since taking over the club’s football operations. Manchester United Foundation Operations Dir Matt Johnson "will take on the role in an interim capacity" at the start of May and will "serve in the role for six months" while ManU decides on its long-term strategy. Johnson replaces Polly Bancroft, who has been named CEO of League Two club Grimsby Town. Johnson’s new position indicates that the overhaul of ManU's football operations "will spread directly to the women’s side." He joined ManU in 2014, initially serving as the director for the club’s girls' youth phase. Although his role is "set to be temporary," Johnson "will have a busy summer which could define the team’s long-term future" (London TIMES, 3/28).

Tixr inks several golf ticketing partnerships

By Bret McCormick

Tixr announced a handful of new exclusive ticketing provider partnerships with golf events this morning. The upstart primary ticketing and event commerce marketplace is now handling event ticketing services for:

  • The Aramco Team Series, operated by Performance 54, a four-year-old series of five women’s golf events played across three continents with a $5M purse.
  • The Aramaco Saudi Ladies International, operated by Performance 54, a Ladies European Tour event hosted by Riyadh Golf Club and sporting a $5M purse. 
  • The Sanford International, operated by Pro Links Sports, a 6-year-old PGA Tour Champions event in South Dakota with a $2M purse.
  • The Veritex Bank Championship, operated by Sportfive, a Korn Ferry Tour event held in Arlington, Texas.

Speed Reads....

MLB Commissioner Rob Manfred said today the league is "committed to its investigation" of the scandal surrounding Dodgers P/DH Shohei Ohtani and hopes it will take a "short" time to resolve (ESPN.com, 3/28).

George Mason Univ. will not move forward with Major League Cricket club Washington Freedom on negotiations to build a temporary baseball and cricket stadium on the West Campus (GMU).

Panasonic has added U.S. Paralympic sprinter Noah Malone to its roster of North American Olympians and Paralympians leading up to the Paris Games (Panasonic).

The USL Super League named Bellevue Univ. the league’s Official Education Partner. Through the partnership, Bellevue will offer USL Super League players, staff and fans opportunities to further their undergraduate and graduate education (USL).

The Soccer Tournament named Ally Financial the official retail banking partner of the event. As part of its sponsorship, Ally will again sponsor former USWNT player Heather O’Reilly and her TST team US Women (TST).

UFC has signed a multiyear partnership with Tourism Western Australia which will see the promotion return to Perth with two events starting with UFC 305 at RAC Arena on August 18. This marks the third time Perth has hosted a UFC PPV event following UFC 221 in Feb. 2018 and UFC 284 Feb. 2023 (UFC).

Fanatics Sportsbook has been named the title sponsor of the PPA Tour's North Carolina Cup. The Fanatics Sportsbook North Carolina Cup will be held at Cary Tennis Park April 1-7 (PPA Tour).

Around the World....

Premier League club Chelsea owner Clearlake Capital will have a new chair in 2027, replacing Todd Boehly. Clearlake said it is "not put off by the criticism and scrutiny" Boehly has faced in the position, and the switch is "not said to represent a vote of no-confidence in the work Boehly is doing" (London TELEGRAPH, 3/28).

IOC Commission Chair Kirsty Coventry "poured water on the chaos engulfing" the Queensland government over the 2032 Games and its shifting venues, declaring the IOC remained "very positive" about Brisbane at its second annual meeting of the Coordination Commission for Brisbane 2032 (Brisbane COURIER-MAIL, 3/28).

The Football Association has charged Newcastle MF Sandro Tonali with 50 alleged gambling offenses "relating to bets" he placed. Tonali is partway through a 10-month worldwide suspension imposed by Italy’s football federation after being "found guilty of betting on matches featuring Milan and his previous club, Brescia" (London GUARDIAN, 3/28).

Women's Super League club Leicester City has "sacked" its women’s team manager, Willie Kirk, after an "investigation into an alleged relationship with a player" (London GUARDIAN, 3/28).

Social Scoop....

Daily Download....

Prime Video and NHL Productions today revealed the trailer for the upcoming documentary "Saving Sakic," premiering on April 16 on Prime Video in Canada and April 17 on ESPN+ in the U.S. The doc follows the attempt by the Rangers to sign away Joe Sakic from the Avalanche.

Daily Digit....

16-0-2 -- The Predators record since their 9-2 loss to the Stars on Feb. 15 which led to the cancellation of a team trip to see U2 perform at the Sphere in Las Vegas. It is the longest point streak in franchise history or of anyone in the NHL this season (AP, 3/27).