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Flutter secures 100% ownership of FanDuel through new agreement with Boyd
Globenewswire· 2025-07-10 20:50
Core Viewpoint - Flutter Entertainment has announced the extension of its strategic partnership with Boyd Gaming Corporation to 2038 and the acquisition of Boyd's 5% stake in FanDuel for approximately $1.755 billion, increasing Flutter's ownership in FanDuel to 100% at an implied valuation of around $31 billion [1][2][3]. Group 1: Strategic Partnership and Acquisition - The acquisition involves a payment of approximately $1.755 billion, which includes $1.55 billion for the stake in FanDuel and $205 million for revised commercial terms [2][12]. - The strategic partnership extension with Boyd will lead to significantly reduced market access costs, expected to save Flutter approximately $65 million annually starting July 1, 2025 [2][6][12]. Group 2: Market Position and Financial Impact - FanDuel holds a 43% market share in sports betting and 27% in iGaming in the US, making it the clear market leader [6][12]. - The transaction is anticipated to enhance Flutter's long-term profitability profile and mitigate potential tax increases, with the expected annual savings contributing to a more favorable adjusted EBITDA margin [6][12]. Group 3: Financial Arrangements - Flutter has entered into a bridge credit agreement for a senior secured first lien term loan of $1.75 billion to finance the acquisition [5][7]. - The leverage ratio is expected to increase initially but is projected to decrease due to visible profitable growth opportunities, with a commitment to maintain a medium-term leverage ratio of 2.0-2.5x [3][6].
UFC GYM Selects MMA.INC's BJJLink.com Software as the Technology Engine to Power its Global Brazilian Jiu Jitsu (BJJ) Franchise Growth
Globenewswire· 2025-07-10 20:05
Core Insights - Mixed Martial Arts Group Limited (MMA) has expanded its strategic technology partnership with UFC Gym Group, selecting BJJLink.com as the official gym management software for new UFC GYM BJJ franchise studios [2][3] - This partnership aligns with UFC GYM's global expansion and the growth of its Brazilian Jiu-Jitsu (BJJ) program, supported by the recent launch of UFC's BJJ live event series [3][6] Company Developments - The expanded Software-as-a-Service (SaaS) agreement enhances the operational capabilities of UFC GYM's BJJ franchise studios, providing franchisees with a comprehensive platform for member management and revenue generation [4][6] - UFC GYM plans to open over 45 new gyms in 2025, with BJJ-first models designed to cater to modern athletes, featuring advanced facilities [5][6] Technology and Features - BJJLink.com will serve as the digital backbone for UFC GYM's BJJ studios, offering features such as streamlined class scheduling, automated billing, and digital curriculum tools [4][7] - The platform includes mobile check-in, self-service kiosks, and a built-in CRM for enhanced member engagement and operational efficiency [7][8] Market Position and Growth - BJJLink is already utilized by hundreds of martial arts academies globally, indicating strong demand for its features among franchise operators [8] - MMA.INC is also expanding BJJLink into Latin America and has formed a partnership with Gracie Allegiant HQ, further solidifying its market presence [9][10]
Sports betting industry braces for Trump's 'Big, Beautiful Bill'
Yahoo Finance· 2025-07-10 19:12
Sports Betting Industry - Trump's "One, Big, Beautiful Bill" signals a bold pivot in the politics of sports gambling, impacting the sports betting industry [1] Revenue & Financial Deals - Texas Tech's football recruit deal involves $5.1 million in revenue sharing [1] - The financial plays shaping the sports business, including the money behind the Tour de France, are ones to watch [1] Media & Partnerships - Matchroom Sport's partnership with DAZN focuses on the global growth of professional fighting [1] - Yahoo Finance and Yahoo Sports produce the "Yahoo Finance Sports Report" vodcast [1] MLB & Collective Bargaining - MLB collective bargaining agreement negotiations are a key topic [1]
X @Bloomberg
Bloomberg· 2025-07-10 16:48
Industry Positioning - The article questions whether Red Bull is primarily an energy drink or a sports empire [1]
WNBA Commissioner: Our teams are seeing valuations go up from $5M to $260M on average
CNBC Television· 2025-07-10 16:00
WNBA Expansion and Growth - WNBA is capitalizing on growing popularity and high demand, entering an expansion phase [3][4] - The league aims for 18 teams by the end of the decade, adding Cleveland, Detroit, and Philadelphia in 2028, 2029, and 2030 respectively, and Toronto and Portland next year [4][5] - Expansion balances game quality, player opportunities, and strategic city selection [5] Financial Performance and Valuation - WNBA is experiencing tailwinds for women's sports and sports in general, particularly in team valuations [6] - Positive elements like uniform patch valuations, media ad spots, and franchise valuations are driven by revenue and revenue multiples [7] - Capital raised in February 2022 helped the WNBA transition into a hypergrowth phase [8] - Team revenues are increasing from gate receipts, corporate partnerships, and local media deals [9] - Team valuations have significantly increased from $5 million to $260-270 million [9] Media and Partnerships - WNBA has signed a significant national media deal, including with NBC, starting next year [9] - Corporate partners and NBA/former NBA players are strong supporters of the WNBA [2]
X @Bloomberg
Bloomberg· 2025-07-10 14:54
Goldman Sachs is working on plan to raise as much as €250 million in debt to fund the refurbishing of the stadium for Spanish football club Real Betis https://t.co/weid3tPcWM ...
X @Bloomberg
Bloomberg· 2025-07-10 14:26
The Port of Vancouver, Canada’s main trade gateway to Asia, kicked off the search for a company to build a new wharf to handle 70% more cargo https://t.co/pJNqt40pg8 ...
Eli Manning says he's no longer interested in buying a piece of the NFL's Giants
CNBC Television· 2025-07-10 13:51
basically it's too expensive for me. I mean the these these numbers are getting uh very big and even a one% stake. Yeah.A 1% stake is something valued at 10 billion dollars. You know it turns into a very big number. So um you know I I love the Giants and I think it you know is deserving of that valuation and um there'll be people that want to go for it and I was kind of along the ride but it really is a matter of just some um complications with the fact that I'm doing broadcasting.I wouldn't be able to talk ...
Gray Telemundo Stations to Air Carolina Panthers Preseason Games in Spanish for the First Time
Globenewswire· 2025-07-10 13:30
Core Viewpoint - Gray Media and the Carolina Panthers have formed a partnership to broadcast all three Panthers preseason games live in Spanish, targeting Spanish-speaking audiences across the Carolinas [1][5]. Group 1: Partnership Details - The partnership will allow Spanish-speaking fans to watch every Panthers preseason game on six Gray Telemundo affiliate stations in South Carolina and Eastern North Carolina starting this August [2]. - The Spanish-language broadcasts will feature experienced sportscasters Carlos Ramirez and Ariana Figueroa, enhancing the viewing experience for fans [4]. - This initiative is part of a broader effort to build inclusive experiences for Spanish-speaking viewers and strengthen connections with Latino fans in the region [5][6]. Group 2: Broadcast Schedule - The 2025 Panthers preseason schedule includes games against the Cleveland Browns, Houston Texans, and Pittsburgh Steelers, with specific dates and times outlined [7]. - The broadcasts will be available on various Telemundo stations, including WDKT, WTES, WZCH, WXIV, WTWL, and WTGC [3][7]. Group 3: Company Background - Gray Media, the parent company, is the largest owner of local television stations in the U.S., reaching approximately 37% of U.S. television households [6][8]. - Tepper Sports & Entertainment, which owns the Carolina Panthers, aims to make the greater Charlotte metro area a premier destination for sports and entertainment [9].
Whirlpool Brand and Premier Lacrosse League Announce Chicago River Stunt in Celebration of the League's Highly-Anticipated Return
Prnewswire· 2025-07-10 13:02
Group 1: Event Overview - The Premier Lacrosse League (PLL) is returning to Chicago for the first time since 2019, featuring a two-day game series on July 11-12 at Northwestern Medicine Field [1] - The event will include the first-ever professional lacrosse game played on a river, with a field constructed on a Chicago River Tour Boat [2] Group 2: Sponsorship and Community Engagement - Whirlpool brand is a proud sponsor of the PLL and is committed to expanding access to lacrosse in local communities, having also announced support for the Women's Lacrosse League (WLL) [3] - The partnership between Whirlpool brand and PLL began in 2023, focusing on community engagement through equipment restoration and social responsibility initiatives [4] Group 3: Company Profile - Whirlpool Corporation is a leading home appliance company with approximately $17 billion in annual sales in 2024, primarily in the Americas, and employs around 44,000 people [7] - The company operates 40 manufacturing and technology research centers and has a diverse brand portfolio including Whirlpool, KitchenAid, and Maytag [7] Group 4: League Profile - The PLL is a men's professional lacrosse league in North America, co-founded by Paul Rabil and Mike Rabil, and backed by a prominent investment group [8] - The league has been recognized for its workplace culture and has exclusive media rights agreements with major networks like ABC and ESPN [8][9]