Boston Red Sox majority owner John Henry has agreed to sell a roughly 11% stake in the team's parent company to RedBird Capital Partners, Axios has confirmed with a source close to the situation. Separately, LeBron James has acquired around a 1% stake in the club, although without investing any new money.
Why it matters: It's a massive return on investment for Henry, who in 2001 paid what was then a record $700 million for the Red Sox. This deal values its parent company, Fenway Sports Group, at around $7.3 billion.
The Olympic torch relay kicks off next week at a spectator-free "Grand Start" in Japan, with organizers hoping to avoid a cancellation after last year's delay.
The big picture: The Tokyo Olympics start in four months, and there's considerable opposition to the Games in Japan, AP reports.
"The Volume," a sports podcast network from Colin Cowherd — the veteran sports talk radio host — has struck a comprehensive content deal with the Action Network, a subscription sports betting media company, executives tell Axios.
Why it matters: It's a rare talent partnership between two upstart media companies, both focused on sports.
Front Office Sports, the sports media company centered around newsletters, expects to be profitable this year on high 7-figures in revenue, its CEO Adam White tells Axios.
Driving the news: The company moving forward lean into the branding "FOS" as it starts to build more newsletter products for general sports consumers, in addition to its core products catered to professional business audiences.
Joe Montana, Jerry Rice and Charles Woodson have joined the growing roster of athletes to exclusively partner with Fanatics Authentic, the online retail giant's collectibles and memorabilia arm.
The state of play: Known primarily for apparel, Fanatics also deals in memorabilia, which occupies an important corner of the exploding sports fandom investing complex.
Nearly two years in the making, the Big Dance is finally returning from its pandemic-induced hiatus. Ladies and gentlemen, it's time to fill out your bracket.
Driving the news: 68 teams have been invited to the men's NCAA Tournament in Indianapolis — a bubbled basketball extravaganza unlike anything college sports has ever seen.
The rule changes ... No defensive shifts: In Double-A, all four infielders must have their cleats on the infield dirt when the pitch is thrown. That means no "rover" in shallow right field taking singles away from lefties.
Disney+ last week surpassed 100 million subscribers, meaning its audience is already half the size of Netflix's just 16 months after launch.
Between the lines: Roughly 30% of those 100 million subscribers (28 million) are from Disney+ Hotstar, an India-based streaming service known for its live cricket coverage.
