Finance

The California state auditor is “set to launch an investigation into the failed Angel Stadium sale ” and whether the Angels “have complied with the current stadium lease,” according to Bill Shaikin of the L.A. TIMES. The audit request from state Sen. Tom Umberg and Assemblyman Avelino Valencia...

Lightning minority owner Arctos Partners is expected to exit some or all of its 30% stake in the team as part of the Lightning’s ongoing sale process , according to a source familiar with the deal. Lightning owner Jeff Vinik confirmed yesterday that he...

Sphere in Las Vegas saw a revenue gain of $151.2M for the fourth quarter of its fiscal year. That was down compared to the previous $170.4M of revenue generated in the previous quarter. The venue closed its 12-month financial year ending on June 30 at $497.2M in revenue. Q4...

Range Media Partners has secured a minority investment from Verance Capital, a N.Y.-based growth investment firm focused on sports, media and entertainment. Verance joins Range’s recently announced new strategic investor group of Liberty Global, N.Y.-based family office Wildcat Capital Management and family entertainment company Playground Productions to...

Madison Square Garden Sports Corp. booked $1.03B in FY 2024 revenue, a 16% increase over FY23, according to the company’s annual report released today. Increases in playoff-related revenues ($71.9M more than FY23); season ticket-related revenues ($25.6M more); league distribution revenues ($22.4M); suite revenues ($11.2M); food and beverage and merchandise...

Marc Lasry’s Avenue Sports Fund and the Viola family's VSV ITFC have partnered with Bright Path Sports Partners as additional capital investors in Premier League club Ipswich Town. This comes following Bright Path's 44% acquisition of Gamechanger 20 Ltd, the club's owner. Lasry joins the Ipswich Town BOD and...

The landscape of collegiate sports is undergoing a profound transformation, spurred by the increasing involvement of private equity firms. The shifting landscape is raising a host of legal implications ranging from antitrust concerns to ensuring compliance with existing NCAA regulations. Antitrust concerns One of the most significant legal...

Sportradar booked €278.4M ($305M) in revenue in Q2 FY24, a new quarterly record for the company and a 29% increase from the same period last year. The company’s Betting Technology & Solutions category (€229.1/$251M, up 30% year-over-year) accounted for 82% of that revenue and its Sports Content,...

The U.S. District Court for the Southern District of New York dismissed investment bank Inner Circle Sports’ lawsuit against private equity firm Bluestone Equity Partners on Monday. Senior U.S. District Judge Loretta A. Preska dismissed the case with prejudice, meaning Inner Circle cannot refile its lawsuit. Bluestone debuted...

Two businessmen have each purchased a half percent of the WNBA’s Wings for $1.04M apiece, SBJ has learned, raising the franchise’s total enterprise value to a purported league record of $208M.   Earlier reports this summer had valued the Las Vegas Aces at a league-high $140M,...