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Monumental's Virginia arena plan reportedly dead...Rangers sign Energy Transfer as jersey patch sponsor...Liberty Media close to $4.3B deal for MotoGP

Monumental reaches deal to stay in D.C. through 2050

By Tom Friend

Hours after the city of Alexandria ended negotiations to build a $2B arena to house the Wizards and Capitals, the District of Columbia struck a tentative deal with Monumental Sports and Entertainment owner Ted Leonsis to keep the teams in the nation’s capital through 2050. Pending approval by the 13-member D.C. Council next Tuesday, the agreement between Leonsis and Mayor Muriel E. Bowser has the city contributing $515M over three years to renovate Capital One Arena and a greenlight to expand Leonsis’ Monumental Sports and Entertainment business downtown.

Other provisions in the term sheet -- which was signed on the basketball court of Capital One Arena prior to Wednesday night’s game against the Nets -- include an increased police presence surrounding the venue, a new downtown Wizards practice facility, parking for Monumental staffers at various D.C. buildings and the city overseeing the WNBA Mystics’ training facility in SE Washington. The financing will come out of D.C.’s Capital Fund budget, with $500M going to upgrade the arena and $15M going toward the expansion of MSE’s downtown footprint.

“It’s a great day, and I’m really relieved,” Leonsis said at a news conference Wednesday evening. “... I had a difficult conversation [with Bowser and D.C. Council Chairman Phil Mendelson] and said, ‘We can still be friends. Let’s take the high road.’”

SCALED-DOWN DISTRICT: Leonsis’ agreement three months ago with Virginia Gov. Glenn Youngkin for an arena at the Potomac Yard section of Alexandra included a mixed-use district -- a trend in the NBA that cities such as Cleveland and Orlando are pursuing. But with the teams staying in D.C., Leonsis’ hopes of an entertainment district are slightly more modest.

“In major metro areas, you’re in an arms race to build bigger and better and higher quality, and we’ve been running out of space.” Leonsis said. “We now have 200,000 square feet [in D.C.] that we can expand to. It’s not 12 acres [like Virginia], but it’s enough.”

POLITICAL MANEUVERING: Leonsis said Wednesday that since his announced intentions to move to Northern Virginia, he remained in contact with Bowser and was further encouraged by a new crime bill -- passed by the council -- that helped convince him to keep the team downtown.

“This is really the mayor’s day,” Leonsis said. “She did the right thing as a businessperson.”

Bowser, who also is trying to lure the NFL’s Commanders back to the city’s RFK Stadium site, said there will be safeguards to prevent MSE from leaving the lease prematurely. In an interview with the Washington Post, she said of Leonsis: “We appreciated our discussions about how we could grow together.” Following Leonsis’ initial announcement that he was taking the teams across the border to Alexandria, both the city and the owner were flooded with negative reaction, with both sides realizing how much the Wizards and Capitals mean to D.C.

“We’re not politicians,” Leonsis said. “D.C. did everything right from December on. Every single move that they made, we would put on the board and say, ‘That’s impressive.’ And when we looked at the other side of the board [at Virginia], some of them weren’t scoring as high.

“We are an incredibly valuable company. And we should be treated with that kind of respect. The city treated us that way, and that really was what the game-changer was for us.”

SBJ's Wes Sanderson contributed to this report.

Rangers sign Energy Transfer as patch sponsor

By Erik Bacharach

Rangers

The Texas Rangers have tabbed Energy Transfer as their first jersey patch sponsor as part of a multiyear deal. The Dallas-based energy infrastructure company, which was co-founded 30 years ago by Rangers owner Ray Davis, has been a sponsor of the Rangers since 2018. Energy Transfer will also be expanding its marketing presence with the Rangers, which has included ballpark signage and radio network inventory since 2018. The circle patch, which will debut with the Rangers’ season opener against the Cubs at Globe Life Field on Thursday, will be located on the right sleeve of all six of the Rangers’ jerseys. The patch will be in Rangers blue on the four home jerseys, while it will be in white on the two road jerseys.

MLB now has 19 teams heading into the upcoming season with jersey patch deals, which are required to have a minimum three-year commitment.

Liberty Media close to $4.3B deal for MotoGP

Getty Images

F1 owner Liberty Media is in "exclusive talks" to buy the company that owns MotoGP for more than $4.3B in a deal that "would unite the elite car and motorcycle racing series," according to sources. Liberty is "poised to agree" to the takeover of Dorna Sports after "seeing off a rival bid from TKO." Qatar Sports Investments, the state-backed group that owns French football club Paris Saint-Germain, "had also expressed interest in Dorna and held talks with its owner," private equity firm Bridgepoint. For Liberty, Dorna "represents a rare opportunity to buy into a global sport with lucrative commercial rights." Any deal, however, is "likely to face regulatory scrutiny." PE firm CVC Capital Partners once owned both F1 and MotoGP but was forced to sell the motorcycle series in 2006 as a condition of buying F1 after EU competition regulators raised concerns (FINANCIAL TIMES, 3/27).

O's sale to Rubenstein approved by MLB owners

The transaction, which includes MASN, the regional TV home of the Orioles and Nationals, values the club and its assets at $1.725BTommy Gilligan/USA TODAY NETWORK

MLB's owners today unanimously approved the transfer of a controlling stake in the Orioles from the Angelos family to a group led by Carlyle Group co-founder David Rubenstein. The vote was the "final step in a weekslong process, making Rubenstein the team’s control person" and taking the team out of the Angelos family’s hands for the first time since 1993. The transaction, which includes MASN, the regional TV home of the Orioles and Nationals, values the club and its assets at $1.725B. Rubenstein's group will initially assume a roughly 40% ownership stake in the club with an "agreement to purchase the remaining equity over time." The new owners inherit a lease negotiated with the stadium authority and approved by the Board of Public Works in December which keeps the club at state-owned Camden Yards for a "minimum of 15 years and frees up" roughly $400M in state investment to the ballpark (BALTIMORE SUN, 3/27).

NCAA looking to ban player prop bets

The NCAA will "lobby state gambling boards" to ban player proposition bets in "an effort to curb harassment against individual student athletes." As March Madness rolls on, the NCAA said prop bets -- those made on the specific stat lines of players, like how many points, rebounds or turnovers they make in a game -- are "harmful to the sport." NCAA President Charlie Baker said, "The NCAA is drawing the line on sports betting to protect student-athletes and to protect the integrity of the game -- issues across the country these last several days shows there is more work to be done." College prop bets are already banned in a dozen states, with Ohio and Maryland banning the practice last month (THE HILL, 3/27).

Lease talks underway between Bengals, county

Negotiations are "underway" between the Bengals and Hamilton County on a new lease for Paycor Stadium. Bengals EVP Katie Blackburn said there is "not a fixed timeline that anyone has played out on this," though they "just keep working on it and hope to make progress." Blackburn added an extension is "still something on our radar" and it is "pretty important thing to us to get figured out at some point." The current lease between the Bengals and Hamilton County goes through 2026 (CINCINNATI ENQUIRER, 3/27).

Boldyn expands partnership with ASM Global

By Bret McCormick

ASM Global and Boldyn Networks announced earlier today a partnership expansion to provide 5G, next-generation Wi-Fi, and private networks at their more than 350 global properties. ASM Global previously had a similar deal with Mobilitie, which became part of Boldyn in a roll-up completed in March 2023.

Boldyn’s neutral host distributed antenna system (DAS), Wi-Fi, and private network solutions will enable critical ubiquitous 5G connectivity throughout ASM venues, while its network solutions connect mobile point-of-sale devices, ticketing, digital screens, energy management systems, interactive installments, back of house operations and their private 5G networks and Wi-Fi are essential for enhanced security and to control devices such as locks, cameras, and alert systems.

MBJ's Mark Kass to join Milwaukee marketing firm

Milwaukee Business Journal editor-in-chief Mark Kass is "leaving the paper in mid-April to join a prominent Milwaukee sports marketing, events and media firm." Kass was named SVP & Chief Content Officer for Team Lammi and Exec Dir of the Wisconsin Athletic HOF. Kass has been in his role at the Milwaukee Business Journal since 2003 (MILWAUKEE BUSINESS JOURNAL, 3/27).

Kass will work closely with the Wisconsin Athletic HOF board; board chair and former NFLer Donald Driver; and Team Lammi founder & President Brian Lammi, co-owners of the HOF. Kass will "focus on growing the prominence and interest in the institution," the oldest state athletic HOF in the U.S., and "implementing a plan to dramatically upgrade the Wisconsin Athletic Hall of Fame Walkway adjacent to the UW-Milwaukee Panther Arena in downtown Milwaukee" (WTMJ.com, 3/27).

Introducing the revamped SBJ iOS app

We are excited to announce the release of Sports Business Journal’s enhanced iOS app, designed to give SBJ subscribers easier access to the stories that help you stay informed. The app is free to download but requires a subscription to login and access content.

With the app, you’ll have access to SBJ’s expert and extensive industry reporting at your fingertips. In addition, the app makes it easier for subscribers to:

  • Access SBJ’s Daily issue as well as the Morning Buzz, Closing Bell and Weekend Rap editions.
  • Dive into the digital version of SBJ’s Weekly issue
  • Customize your news feeds with the topics and reporters that are most relevant to you
  • Browse SBJ’s subscriber newsletters to get the inside scoop on Marketing, Media, Tech, Football, College, Betting and Esports.

If you already have the app, you'll want to ensure that you have the latest version installed. If you do not have it downloaded to your device, you can do so from the Apple app store.

If you’re not yet a SBJ subscriber, you can purchase a subscription here.

Speed Reads....

Bosch Power Tools signed a new sponsorship agreement with the Cubs, with the brand becoming the club’s Official Power Tools, Power Tool Accessories and Measuring Tools Partner. Bosch will have in-ballpark signage for the 2024 season (Bosch).

Barclays signed a new multiyear partnership with the N.Y. Liberty in which Barclays will become the team’s Official Banking Partner along with receiving jersey patch placement beginning with the 2024 WNBA season (Liberty).

Inter Miami CF has signed a multiyear partnership with watch brand Tudor, which becomes the club’s first-ever Official Timekeeper. As an Exclusive Partner of Inter Miami CF, Tudor will have the highest level of visibility at Chase Stadium and the Club’s digital channels (Inter Miami).

WNBA Golden State has eclipsed 5,000 season ticket deposits since the franchise was announced in Oct. The expansion franchise in the S.F. Bay Area will begin play in the 2025 WNBA season (WNBA Golden State).

The USTA became the first National Governing Body to partner with the President’s Council on Sports, Fitness, and Nutrition, the federal advisory committee that aims to promote nutrition and physical activity (USTA).

Middle Tennessee State Athletics and Taymar Sales U. have signed a multiyear agreement for the firm to handle outbound ticket sales (Taymar Sales U.).

Around the World....

Istanbul has been selected to host the 2027 European Games, "giving the Turkish capital a chance to show it can stage an international multi-sports event as it eyes the 2036 Olympics." The European Olympic Committees group said today that its exec committee "unanimously picked" Istanbul as the host, although the decision "still needs to be approved by national members" at a meeting in June (AP, 3/27).

Spanish prosecutors are seeking "two-and-a-half years jail for disgraced ex-football chief Luis Rubiales," who is facing a trial for kissing Spain MF Jenni Hermoso on the lips "against her will." Prosecutors also want Rubiales, who has been "charged with sexual assault and coercion," to pay at least $54,000 "in compensation to Hermoso" (LE MONDE, 3/26).

The Australian Football League has "denied it has a cocaine problem," after whistleblowers "claimed abuse of the drugs is widespread in the sport" (BBC.com, 3/27).

Ulster Rugby names former South Eastern Health and Social Care Trust CEO Hugh McCaughey interim CEO. This move follows Jonny Petrie leaving the club on Monday "by mutual consent." McCaughey coached Ulster and Ireland players at youth level and managed Ulster Rugby and the Irish Sevens team at the 2009 World Cup (BBC.com, 3/27).

More:

Social Scoop....

Daily Digit....

$198,102,112.20 -- The total wagering revenue brought in by the state of North Carolina in its first week of mobile sports betting. After paying out $141,588,678.04 in winnings, the state earned a gross wagering revenue of $42,683,281.73 in the first week (N.C. Gaming and Lottery Commission).