On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, such as the potential sale of the Los Angeles Angels, which Sportico values at $2.5 billion.
Owner Arte Moreno announced Tuesday that he had hired Galatioto Sports Partners to explore strategic options for the club, including possibly selling the team. The announcement comes a few months after the team’s bid for a new stadium fell through in dramatic fashion. The Angels could fetch more than the MLB-record $2.4 billion that Steve Cohen paid for the New York Mets.
The hosts also talk about two big new announcements from the PGA Tour as it continues to reshape its business in the wake of LIV Golf. PGA Tour commissioner Jay Monahan told golfers Wednesday that their compensation would increase via a handful of new changes, including boosted prize pools at some events, a minimum pay for full Tour members, a travel stipend and expanded bonus programs. Hours later, the new venture launched by Tiger Woods and Rory McElroy announced that it was working with the PGA Tour on a new golf league that will feature teams and shorter rounds in a tech-heavy environment.
Lastly, the pair discusses the Big Ten’s new media deals, worth a combined $7 billion over seven years. It will see the Big Ten make more money annually than the NCAA.
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