Jul 12, 2019

Oklahoma City Thunder rides out MVP trade and pending transaction

The estate of late oilman Aubrey McClendon is seeking to sell its 22% stake in the Oklahoma City Thunder, an NBA franchise valued by Forbes at around $1.5 billion, per Bloomberg.

Why it matters: Because this comes just as the Thunder traded away its most valuable asset, former league MVP Russell Westbrook. Can't imagine that move went over too well at Inner Circle Sports, the boutique investment bank managing the sale.

  • The bottom line:
"It’s difficult to pinpoint a value for McClendon’s stake, which comes with voting rights but few other perks, according to sources. There’s no representation on the board or decision-making authority. In such cases, buyers will often seek to apply what’s called an LP discount... Such discounts usually range from 10% to 20%."
Scott Soshnick, Bloomberg

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The Dallas Cowboys are the world's most valuable sports franchise

Data: Forbes; Chart: Harry Stevens/Axios

The numbers are in from Forbes' analysis of the world's most valuable sports teams — your annual reminder of just how lucrative the sports industry has become.

The big picture: Seven years ago, Manchester United was the world's only pro sports franchise worth more than $2 billion. Today, every franchise in the top 50 is now worth at least $2 billion.

Go deeperArrowJul 23, 2019

Arena Football League seeks major capital raise

Photo: Frank Jansky/Icon Sportswire via Getty Images

The Arena Football League is in the middle of a major capital raise, Axios has learned.

Why it matters: This comes on the heels of the AFL switching to a single-entity structure, which makes it a more attractive investment opportunity (investing in a league rather than a single team).

Go deeperArrowJul 17, 2019

London Stock Exchange in talks to buy financial data provider Refinitiv

Illustration: Sam Jayne/Axios

The London Stock Exchange said it's in talks to buy Refinitiv, the financial data provider that The Blackstone Group just last year carved out of Thomson Reuters (which retained a 45% stake).

Why it matters: This would put the British bourse in direct competition with Bloomberg's terminals business.

Go deeperArrowJul 29, 2019