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 pending sale of the Washington Commanders. The complex sale process appears to be winding down, with a group led by Josh Harris having entered a signed agreement to purchase the NFL team for $6 billion.
It’s the highest price ever paid for a sports team, and the latest in a string of NFL sales that have each set successive records. The league has been resistant to changing its debt limits, or allowing institutional investors, largely because it hasn’t yet been forced to confront the potential downsides of soaring valuations. The average NFL team is now worth $4.14 billion, according to Sportico‘s numbers.
Next they discuss the latest in the ongoing sale of the Ottawa Senators. There were four bidders at the end of this week’s deadline, with at least one bid coming in over $1 billion. They also talk about the end of a long-delayed MLS expansion process. A group of investors will pay the league a record $500 million expansion fee to bring a franchise to San Diego.
Lastly, they discuss Fanatics buying PointsBet’s U.S. business for $150 million in cash. Michael Rubin’s company is moving into sports betting under the belief that its 95 million-person database and its ability to package apparel, bets and trading cards will make up for the late start.
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