FOS PM: Inter Miami’s $ 1 billion stadium

The NFL is still the king of American sport. In 2021, 75 of the 100 most watched shows were NFL games. The majority were “Sunday Night Football” games and 29 were broadcast in prime time.

Miami Freedom Park / Design: Alex Brooks

Miami is within a city council vote of a dedicated MLS football stadium.

Inter Miami CF and the city have reached an agreement on a $ 1 billion project to redevelop the Melreese Golf Course and Country Club into a stadium and surrounding shopping area.

The deal, which has the backing of Mayor Francis Suarez, must now pass ahead of a city committee vote, which could take place later this month.

  • The project is designed around a football stadium of around 27,000 seats.
  • It would also include a shopping center, a hotel and a park.
  • Majority owner of the team, Jorge Mas, said in 2018 that the team would cover the cost of the land, estimated at $ 35 million, and that the city would receive operating income.

The team are currently playing at DRV PNK Stadium in Fort Lauderdale, which Mas says will host a second team and continue to serve as a training center. Mas, his brother José Mas, co-owner David Beckham, and others have invested more $ 100 million to build “Drive Pink” as it is often called.

Silver infusion

In September, the team received a $ 150 million investment of Arès management. The funds were linked to the buyout the previous month of Softbank CEO Masayoshi Son and international CEO Marcelo Claure, who collectively owned around 48% of the team.

Inter Miami was valued around $ 600 million at $ 650 million at the time of redemption.

Game Technology / Design: Alex Brooks

London-based gaming software development company Playtech has delayed a $ 3.7 billion takeover by slots maker Aristocrat.

The potential acquisition was announced in October, with plans for Australia-based Aristocrat to increase $ 964.2 million in a sale of shares to help finance the purchase.

Playtech instead launches bidding war after Aristocrates’ rival JKO play expressed interest in buying the business last November.

The UK Takeover Panel gives JKO Play until January 26 to make an offer to buy Playtech.

Over the past year, Playtech has unloaded several properties.

  • In January 2021, the company finalized the sale of the UK software developer Yoyo games to Opera for $ 10 million.
  • He sold his financial trading division Finalto to Gopher Investments in September in a $ 250 million cash transaction.

Sports betting links

In October 2020, Aristocrat CEO Trevor Crocker said the company was looking to either “buy or build” its way into sports betting.

The company wasted no time participating in a $ 15 million funding round for sports betting tech startup Simplebet last March.

Vincent Carchietta-USA TODAY Sports / Design: Alex Brooks

One of the New York NFL teams sued by a Manhattan resident for using “New York” on behalf of their club has overturned the lawsuit filed in federal court this week.

Abdiell Suero is asking for $ 6 billion in damages and that the New York Giants and New York Jets return to a stadium in New York by the start of the 2026 season – or change their team names, according to the federal complaint. The two teams have played in New Jersey for decades and currently share MetLife Stadium in East Rutherford, New Jersey.

“This case has no merit and we will defend it vigorously,” the Giants said in a statement. The Jets and the NFL declined to comment.

The Giants have played in New Jersey since 1976, with the Jets joining them there in 1984.

The lawsuit, which seeks class action status, alleges false advertising, deceptive practices and even interstate wire fraud.

New town, same name

The Jets and Giants aren’t the only NFL teams playing out of town on their behalf.

  • The San Francisco 49ers moved to Levi Stadium in Santa Clara in 2014.
  • The Washington football team is headquartered in Ashburn, Va., And the team has played in Landover, Md., Since 1997.
  • The Dallas Cowboys haven’t competed in Dallas since 1971.
  • The Buffalo Bills have been playing Orchard Park, New York, since 1973.

Darren Heitner, founder of Heitner Legal and professor of sports law at the University of Florida, told Front Office Sports that a “statute of limitations will be one of many defenses put forward in an upcoming nonsuit motion.” .

  • In The Leadoff, NCAA Athletes Cash In First Six Months Of NIL Era, China Seeks To Bounce Back From Sports Industry’s $ 33 Billion Drop, Drone Racing League Plans Video Game crypto-based and Mojo Vision raises $ 45 million and partners with Adidas. Click here to listen.
  • The NFL will keep plans in place for Super Bowl LVI at SoFi Stadium on February 13, despite an increase in COVID-19 cases in Los Angeles, through spokesperson Brian McCarthy.
  • ESPN plans to broadcast a ManningCast-like broadcast of “Sunday Night Baseball” with Alex Rodriguez and commentator Michael Kay. All eight broadcasts will be on ESPN2.
  • College GameDay co-host Desmond Howard had a remarkable college career in Michigan and played 11 seasons in the NFL, winning the 1991 Heisman Trophy and Super Bowl XXI MVP. The sports section sat down with Howard to talk about Monday’s CFP Championship, his career in Michigan and that legendary punt return. Subscribe to the Sports section for more conversations with prominent sports figures.

Find out exactly what’s happening in the private markets each week with highlights from our Front Office Sports Insights Deal Tracker.

We carefully monitor public and private market data to capture a picture of what the sports landscape looks like.

Insights Deal Tracker Highlights This Week:

  • the Atlanta Hawks had a 6% stake purchased by Blue Owl Capital for an undisclosed amount.
  • Zupee, the developer of a real money gaming platform to bring quiz tournaments to users and help them make money online, has raised a $ 102 million Series B round from WestCap Group .
  • Topps, a maker of collectible sporting goods, confectionery and other memorabilia, was acquired by Fanatics for $ 500 million.
  • Mojo Vision, a AR contact lens developer, raised a $ 45 million Series B round from Amazon Alexa Fund, PTC, Edge Investments and HiJoJo Partners.
  • Real salt lake, the MLS franchise based in Salt Lake City, Utah, was acquired by David Blitzer and partners of Arctos Sports for $ 400 million.
  • Athleticism, a subscription-based sports media platform, was acquired by The New York Times for $ 550 million.

Try the full Deal Tracker here.

(Note: All at market close on 1/7/22)

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The Milwaukee Bucks (25-15) take on the Brooklyn Nets (24-12) tonight at Barclays Center.

How to watch: 7:30 p.m. ET on ESPN

Betting odds: Threads -5 || ML -195 || O / U 232 * (Bet on DraftKings)

Take: Expect the Bucks to continue their dominance over the Nets. Take Milwaukee to cover.

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

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

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