Sports Owners ‘Laugh Off’ Lowball Offers as Leagues Remain Shut

Wall Street knows a distressed situation when it sees one, and right now it sees one in professional sports teams. With leagues shuttered from the Covid-19 pandemic, bargain hunters including private equity firms have been keeping investment bankers’ phones ringing with offers to buy or take stakes in teams in minor and major league baseball, hockey and soccer franchises. While […]

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Brown Thins Varsity Sports Teams in Effort to Find More Winners

Brown University is revamping its sports program and cutting varsity sports teams, as the school seeks to contend with earning just 2.8% of titles in the Ivy League over the last decade. The changes don’t relate to the pandemic, but date back to a review started in the last school year, which found that the high number of varsity sports […]

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UFC Bans Fighters From Criticizing its Safety Protocols

Even as the UFC downplays the health risks of holding bouts during a pandemic, it has been working to eliminate legal risk for itself. In legal waivers presented to mixed martial artists by the sports entertainment company and viewed by Bloomberg News in advance of its multi-bout event on May 9 in Jacksonville, Florida, UFC fighters were required to acknowledge that hospital services in the area […]

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Sports tech group Catapult shares crunched after CEO ejected

Catapult, the company behind the GPS-based performance tracking device used by Australia’s top NRL and AFL teams, is in turmoil after revealing its chief executive Joe Powell resigned one week after the company pulled back on its underperforming mass market business. “The board and Mr Powell agreed that now is the right time for a new CEO to lead Catapult […]

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Ferrari Halts Output for Two Weeks as Virus Spreads in Italy

Want the lowdown on European markets? In your inbox before the open, every day. Sign up here. Ferrari NV has temporarily halted the production of its sports cars in Italy because of the spread of the coronavirus. The Italian supercar maker is experiencing its “first serious supply chain issues, which no longer allow for continued production,” it said in a […]

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What Drives a Bronx Billionaire to Buy a Sports Team in Europe

“Rocco! Rocco! Rocco!” The shouts echoed around ACF Fiorentina’s 88-year-old stadium on Sunday evening as the home crowd celebrated a narrow win that may prove crucial in keeping their team in Italy’s top soccer league. The adulation wasn’t for a star player or coach, but for the club’s new owner, Rocco Commisso, the billionaire founder of American cable company Mediacom. […]

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Lionel Messi, Megan Rapinoe win Ballon d’Or awards

PARIS (AP) — Lionel Messi won a record sixth Ballon d’Or while World Cup winner Megan Rapinoe earned the women’s prize on Monday. A day after scoring his 614th career goal for Barcelona, Messi reclaimed the trophy he last won in 2015. Liverpool defender Virgil van Dijk was second in the polling, followed by Cristiano Ronaldo, who shared the record […]

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