You Get a Team, You Get a Team!
All it takes is skimming the sports section in any news publication to feel like every team is up for sale or moving around. Here is a rundown of some of the biggest headlines in the fluid sports market.
Perhaps no other sale is as anticipated as that of the Washington Commanders. A column in the Washington Post from late April reads, Commander’s owner, “Daniel Snyder's exit will be a relief, but it doesn't feel like justice.” No matter where opinions land on justice, the Snyder era is nearly over. The asking price is $6 billion, and allegedly multiple parties have met that offer. While headlines have focused on the bid by Philadelphia 76ers and New Jersey Devils owner Josh Harris, “Canadian businessman Steve Apostolopoulos says he’s still in the hunt for the Washington Commanders” (CNBC).
As written by the New York Times, “After years of tense negotiations to remain in the Bay Area, the [Oakland] A’s said they had reached a deal to acquire a stadium site near the Las Vegas Strip” (NYT). After spending more than 50 years in Oakland, this departure is reminiscent of the then-San Diego Chargers move after 56 years, and their fan base is likely reeling. On the bright side, here comes soccer! On the same day that the A’s announced their move to Los Angeles, the USL’s Oakland Roots Soccer Club and the USL W Oakland “announced an official proposal to lease a lot adjacent to the Oakland Coliseum to build a stadium” (KRON). Just like the San Diego State Aztecs and Snapdragon Stadium filled the space left by the Chargers, perhaps this Oakland land will flourish as a soccer hub.
The NHL’s Ottawa Senators were put up for sale on November 5, 2022, seven months after Eugene Melnyk, their long-time owner, passed away (Forbes). On April 24, 2023, news broke that the bidding for the NHL team could eclipse $1 billion, which would set an NHL record (Front Office Sports). The previous record is set by the $900 million the Fenway Sports Group paid for the Pittsburgh Penguins in 2021. According to Front Office Sports and other reports, there are 12 groups who put in a bid for the Senators ahead of a May 15 deadline. Notably, The Remington Group includes Wrexham co-owner Ryan Reynolds. The Ottawa Sun reported on April 28, 2023, that “Ryan Reynolds and Remington Group [are] prepping billion dollar bid for Senators.” On May 11, 2023, ESPN reported that the “Ryan Reynolds' bid for Senators won't move forward.”
Across the pond, Manchester United accepted third and final bids for the famed soccer club on April 28, 2023. According to reports, “British billionaire Jim Ratcliffe has reportedly emerged as the highest bidder for Manchester United” (Front Office Sports). He is up against the Qatari banker Sheikh Jassim bin Hamad Al Thani “whose final offer reportedly also eclipsed $6.2 billion and promised to erase Manchester United’s $620 million in debt” (The Times of India). Despite these high bids, the Glazer family, the current American owners, are seeking $7 billion for the club (Sports Illustrated). The club’s potential sale to an international Qatar owner is drawing some harsh criticism, including an article titled “Qatar takeover of Man United would be new low for English football.” On May 10, 2023, the Sun reported that after three rounds of bidding, Sir Jim Ratcliffe is the preferred bidder.
As evidenced by the onslaught of media reporting on these sales and moves, not everyone is a fan of the changing sports landscape. But whether fans and bystanders approve or not, these moves are bound to happen at any given moment. Stay tuned!