Moag & Company Sports Notes (02 Sept 2022)

Date: Sep 2022


Who pitched the only no-hit game in World Series history?

Last Week’s Answer: Cricket used the term ‘home run’ long before baseball.


The city of Santa Clara has agreed to a settlement with the 49ers that lets the team “continue to manage the publicly-owned Levi’s Stadium,” bringing a "dramatic end to an acrimonious and long-running legal battle," according to the San Jose Mercury News. The settlement concludes the 2019 lawsuit filed by the 49ers against the city over the council’s decision to “remove the team as the manager of non-NFL events" at Levi’s Stadium. The 49ers will pay $1.675M "directly to the city’s general fund.” There will be a $650,000 "transfer from the Stadium Authority’s discretionary fund to the general fund," as well as an additional $650,000 from the "Stadium Authority’s discretionary fund to its operating fund.” The 49ers also will waive $350,000 in "accrued interest” and pay $2M for "public safety costs.” Santa Clara Councilmember Anthony Becker called the agreement “fair” and said that it would “move the city’s relationship with the 49ers in a 'positive direction' -- especially at a time when the city is in dire straits with its finances." The stadium management lawsuit was the “last piece of litigation” between the 49ers and Santa Clara, who have been "locked in legal battles for years now." 49ers Chief Communications & Public Affairs Officer Rahul Chandhok said that there are "two mediated disputes that have yet to be resolved,” but those are "expected to be finished by the end of the year".


The Sacramento Kings have “finalized an agreement to purchase majority interest" in the Triple-A Pacific Coast League Sacramento River Cats, according to the Sacramento Bee. The Kings, River Cats and Arctos Sports Partners announced the new partnership, establishing the Kings as "majority owners of the River Cats." The River Cats will remain the Triple-A affiliate of the San Francisco Giants and Susan Savage, whose family brought the team to Sacramento more than 20 years ago, “will stay onboard as a strategic business advisor and member of the ownership group.” In July, sources said that the Kings and River Cats were “in advanced talks after engaging in discussions in late 2021.” Sources described the framework of a deal “with a purchase price approaching $100 million”. It was “not clear what role Jeff Savage, Susan's son who's taken on more of a public face for the River Cats in recent years, has after the acquisition.” On the surface, the two teams would “seem to have little in common other than geography.” The River Cats play the bulk of their season while the NBA is off. The two teams also “compete at different levels of their respective sports and arguably to different audiences," with MiLB "typically focused on local markets while the NBA has a global reach”.


Alex Rodriguez’s partnership with Marc Lore to buy the Minnesota T’Wolves “appears to be in jeopardy,” as the former MLBer is struggling to come up with his part of the money, according to the N.Y. Post. Rodriguez and Lore were “supposed to be equal partners” when they put down $250M in 2021 for a 20% stake in the team. However, sources said that Rodriguez “at the time had failed to come up with his full share, leaving Lore to cover the balance." Due to that, Lore now has a “roughly 13% share in the Timberwolves while A-Rod has amassed a mere 7%.” Sources said that the deal calls for Rodriguez and Lore “to make the next 20% payment by year’s end, and A-Rod is scrambling to raise his half in addition to the cash he needs for the down payment.” Lore indicated that he “owns a bigger stake than A-Rod,” but that the two “still make all decisions together.” The pair will have a chance to “buy an additional 40% and take control of the team by the end of 2023” should they make the next payment by the end of this year.


New York Yankees Managing General Partner Hal Steinbrenner “acquired a little less than a 10% stake" in Serie A club AC Milan as part of the investment led by RedBird Capital and “may showcase repeats of their games" on YES Network, according to the N.Y. Post. YES has a partnership to televise reruns of games played by the Premier League’s Manchester City, which owns NYCFC. Sources said that Steinbrenner “will be a minority owner to Gerry Cardinale’s RedBird Capital Partners, which is buying AC Milan for $1.19 billion.” Sources added that LeBron James’ Main Street Advisors is “also a minority investor.” Cardinale “has a long relationship with the Steinbrenners.” He was a Goldman Sachs banker who “helped them launch the YES Network in 2002. Yankees President Randy Levine said of why the team made the investment in AC Milan: “We have had a very long and successful relationship with RedBird and we believe we can help grow AC Milan’s brand and commercial presence.” Some ideas “include soccer friendlies at Yankee Stadium”.

Sources: SportsBusiness Daily;; San Jose Mercury News; Sacramento Bee; N.Y. Post

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