On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, including the record-breaking $850 million public subsidy secured by the Buffalo Bills for a new NFL stadium in Western New York.
That money—$600 million of which is coming from the state, $250 million from the county—eclipses the previous record of $750 million secured by the Raiders for their new Las Vegas venue. The entire Bills project is expected to cost $1.4 billion, meaning the team and NFL are only footing about 31% of the overall cost. The timing here worked out especially well for the NFL club—New York State has a lot of federal funds coming out of the COVID-19 pandemic, and politicians are typically hesitant to rock the boat when it comes to local sports franchises.
The hosts also discuss the NCAA tournament, which is down to four teams: Duke, UNC, Villanova and Kansas. It’s a high-profile foursome, punctuated by the fact that Duke and UNC, one of the sport’s best rivalries, will meet for the first time in the NCAA tournament, in the Final Four, in Duke coach Mike Krzyzewski’s final season. The tournament has played out well for TV partners CBS and Turner, which typically root for fun upset stories (like the Saint Peter’s Peacocks) to give way to a Final Four packed with the sport’s most popular programs.
Lastly, the hosts discuss the latest in the Chelsea sale. The process has been narrowed to four bid groups, all of which are led by U.S. sports team owners. As if the sale couldn’t become more complex, the Wall Street Journal reported Monday that current Chelsea owner Roman Abramovich is suffering from signs of having been poisoned.
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